If you understood L-3, you'd know full well that the Company generates more than $1.1 Billion of NET FREE CASH FLOW per year.
Cash Flow is one of the greatest indicators of a Company's ability to execute.
The only thing holding this Company back is the dark "cloud" that overhangs the Defense Sector given the idiots at the Supercommittee and the proposed/perceivede budget cuts to the DoD, which most likely will never happen.
If it weren't for the current management I would tend to agree with you but LLL has gone from a savy acquiring company not willing to accept a lot of good will and a strict formula for acquisitions to a company readily willing to pay a lot of good will for companies. The Engility spin off is the results we get with the new buffons in charge!