Israel’s Elbit Systems hits record revenue as military demand rockets

JERUSALEM – Elbit Systems, Israel’s largest defence firm, reported a sharp rise in 2025 profit, boosted by strong demand from the military during the Gaza war, and hinted at further gains from the US-Israeli war on Iran.

Elbit said on Tuesday it earned $12.75 per diluted share, excluding one-time items, last year, up from $8.76 in 2024. Revenue rose 16 percent to $7.9 billion.

In the fourth quarter alone, it earned an adjusted $3.56 per diluted share, versus $2.66 a year earlier. Revenue rose 11 percent to $2.1 billion, the first time quarterly revenue has crossed the $2 billion mark.

Elbit’s order backlog rose to $28.1 billion at the end of 2025 from $22.6 billion in 2024, with 72 percent attributable to orders outside Israel and more than half slated to be performed in 2026 and 2027.

Since the start of the Gaza war in October 2023, Elbit has experienced a “continued material increase in the demand for its products and solutions” from the Israeli military, it said.

“Elbit Systems and its employees are playing a key role in providing the Israel Defence Ministry and the IDF capabilities during the Operation Roaring Lion and will continue to serve as a strategic partner to its global customers,” Elbit said, referring to Israel’s air strikes against Iran that began on February 28.

The company said it will pay a quarterly dividend of $1.00 per share.