NYSE : LDOS
Leidos Holdings, Inc. — Financial statements
Technology · Information Technology Services · United States
Last price 142.98 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 17.94B
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Financial statements
Leidos Holdings, Inc. (LDOS) reported revenue of 17.63B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 17.63B | 17.17B | 16.66B | 15.44B | 14.40B | 13.74B |
| Cost of Revenue | 14.50B | 14.07B | 13.86B | 13.19B | 12.31B | 11.72B |
| Gross Profit | 3.14B | 3.10B | 2.80B | 2.24B | 2.08B | 2.01B |
| Selling, General & Admin | 1.06B | 999.00M | 983.00M | 942.00M | 951.00M | 851.00M |
| Operating Expenses | 1.06B | 999.00M | 983.00M | 942.00M | 951.00M | 851.00M |
| Operating Income | 2.08B | 2.10B | 1.81B | 1.30B | 1.13B | 1.16B |
| Interest Expense | -223.00M | -203.00M | -193.00M | -212.00M | -199.00M | -184.00M |
| Earnings From Equity Investments | 29.00M | 32.00M | 39.00M | 30.00M | 12.00M | 20.00M |
| Other Non Operating Income (Expenses) | -14.00M | 3.00M | 5.00M | -6.00M | -3.00M | -1.00M |
| EBT Excluding Unusual Items | 1.87B | 1.93B | 1.67B | 1.11B | 943.00M | 998.00M |
| Merger & Restructuring Charges | -74.00M | -18.00M | -16.00M | -24.00M | -17.00M | -27.00M |
| Impairment of Goodwill | -596.00M | |||||
| Asset Writedown | -5.00M | -5.00M | -11.00M | -91.00M | -40.00M | -4.00M |
| Pretax Income | 1.79B | 1.91B | 1.64B | 403.00M | 886.00M | 967.00M |
| Income Tax Expense | 398.00M | 447.00M | 388.00M | 195.00M | 193.00M | 208.00M |
| Earnings From Continuing Operations | 1.40B | 1.46B | 1.25B | 208.00M | 693.00M | 759.00M |
| Net Income to Company | 1.40B | 1.46B | 1.25B | 208.00M | 693.00M | 759.00M |
| Minority Interest in Earnings | -19.00M | -14.00M | 3.00M | -9.00M | -8.00M | -6.00M |
| Net Income | 1.38B | 1.45B | 1.25B | 199.00M | 685.00M | 753.00M |
| Net Income to Common | 1.38B | 1.45B | 1.25B | 199.00M | 685.00M | 753.00M |
| Shares Outstanding (Basic) | 126.50M | 128.00M | 134.00M | 137.00M | 137.00M | 141.00M |
| Shares Outstanding (Diluted) | 128.50M | 130.00M | 136.00M | 138.00M | 138.00M | 143.00M |
| EPS (Basic) | 10.88 | 11.31 | 9.36 | 1.45 | 5.00 | 5.34 |
| EPS (Diluted) | 10.71 | 11.14 | 9.22 | 1.44 | 4.96 | 5.27 |
| Free Cash Flow | 2.16B | 1.62B | 1.29B | 980.00M | 863.00M | 929.00M |
| Free Cash Flow Per Share | 16.83 | 12.50 | 9.46 | 7.10 | 6.25 | 6.50 |
| Dividend Per Share | 1.69 | 1.63 | 1.54 | 1.46 | 1.44 | 1.40 |
| Gross Margin | 17.79% | 18.05% | 16.79% | 14.54% | 14.48% | 14.66% |
| Operating Margin | 11.79% | 12.23% | 10.89% | 8.43% | 7.87% | 8.47% |
| Profit Margin | 7.80% | 8.43% | 7.53% | 1.29% | 4.76% | 5.48% |
| Free Cash Flow Margin | 12.27% | 9.46% | 7.72% | 6.35% | 6.00% | 6.76% |
| EBITDA | 2.38B | 2.39B | 2.10B | 1.63B | 1.47B | 1.49B |
| EBITDA Margin | 13.51% | 13.92% | 12.63% | 10.58% | 10.18% | 10.83% |
| D&A For EBITDA | 302.00M | 290.00M | 290.00M | 331.00M | 333.00M | 325.00M |
| EBIT | 2.08B | 2.10B | 1.81B | 1.30B | 1.13B | 1.16B |
| EBIT Margin | 11.79% | 12.23% | 10.89% | 8.43% | 7.87% | 8.47% |
| Effective Tax Rate | 22.20% | 23.41% | 23.67% | 48.39% | 21.78% | 21.51% |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 748.00M | 1.11B | 849.00M | 777.00M | 516.00M | 727.00M |
| Cash & Short-Term Investments | 748.00M | 1.11B | 849.00M | 777.00M | 516.00M | 727.00M |
| Accounts Receivable | 2.97B | 2.71B | 2.65B | 2.43B | 2.35B | 2.19B |
| Receivables | 2.97B | 2.71B | 2.65B | 2.43B | 2.35B | 2.19B |
| Inventory | 94.00M | 342.00M | 315.00M | 310.00M | 287.00M | 274.00M |
| Restricted Cash | 167.00M | 148.00M | ||||
| Other Current Assets | 1.44B | 656.00M | 525.00M | 489.00M | 323.00M | 281.00M |
| Total Current Assets | 5.25B | 4.81B | 4.33B | 4.00B | 3.64B | 3.62B |
| Property, Plant & Equipment | 1.39B | 1.49B | 1.55B | 1.47B | 1.39B | 1.28B |
| Long-Term Investments | 20.00M | 25.00M | ||||
| Goodwill | 7.66B | 6.34B | 6.08B | 6.11B | 6.70B | 6.74B |
| Other Intangible Assets | 943.00M | 458.00M | 517.00M | 667.00M | 952.00M | 1.18B |
| Long-Term Deferred Tax Assets | 48.00M | 203.00M | 102.00M | 28.00M | 13.00M | |
| Long-Term Deferred Charges | 30.00M | 16.00M | 37.00M | 74.00M | 121.00M | |
| Other Long-Term Assets | 389.00M | 314.00M | 305.00M | 299.00M | 266.00M | 280.00M |
| Total Assets | 15.63B | 13.49B | 13.01B | 12.70B | 13.07B | 13.26B |
| Accounts Payable | 1.82B | 627.00M | 611.00M | 736.00M | 733.00M | 692.00M |
| Accrued Expenses | 855.00M | 1.55B | 1.69B | 1.52B | 1.47B | 1.21B |
| Short-Term Debt | 320.00M | 380.00M | ||||
| Current Portion of Long-Term Debt | 22.00M | 599.00M | 666.00M | 94.00M | ||
| Current Portion of Leases | 127.00M | 142.00M | 154.00M | 136.00M | 149.00M | |
| Current Unearned Revenue | 359.00M | 348.00M | 333.00M | 442.00M | 380.00M | 364.00M |
| Other Current Liabilities | 163.00M | 172.00M | 181.00M | 137.00M | 239.00M | 338.00M |
| Total Current Liabilities | 3.22B | 2.83B | 3.56B | 2.99B | 3.95B | 3.23B |
| Long-Term Debt | 5.96B | 4.59B | 4.00B | 4.59B | 3.89B | 4.60B |
| Long-Term Leases | 592.00M | 621.00M | 675.00M | 589.00M | 608.00M | 632.00M |
| Long-Term Unearned Revenue | 2.00M | 6.00M | 10.00M | 21.00M | 29.00M | 24.00M |
| Long-Term Deferred Tax Liabilities | 221.00M | 2.00M | 3.00M | 40.00M | 239.00M | |
| Other Long-Term Liabilities | 518.00M | 262.00M | 305.00M | 243.00M | 204.00M | 190.00M |
| Total Liabilities | 10.30B | 8.53B | 8.55B | 8.44B | 8.72B | 8.92B |
| Additional Paid-In Capital | 88.00M | 319.00M | 1.11B | 1.89B | 2.00B | 2.42B |
| Retained Earnings | 5.22B | 4.65B | 3.41B | 2.36B | 2.37B | 1.88B |
| Comprehensive Income & Other | -23.00M | -50.00M | -110.00M | -48.00M | -73.00M | -12.00M |
| Total Common Equity | 5.28B | 4.92B | 4.41B | 4.20B | 4.30B | 4.29B |
| Minority Interest | 52.00M | 46.00M | 48.00M | 57.00M | 54.00M | 53.00M |
| Shareholders' Equity | 5.34B | 4.96B | 4.46B | 4.26B | 4.35B | 4.34B |
| Total Liabilities & Equity | 15.63B | 13.49B | 13.01B | 12.70B | 13.07B | 13.26B |
| Total Debt | 6.58B | 5.34B | 5.41B | 5.33B | 5.62B | 5.86B |
| Net Cash (Debt) | -5.83B | -4.23B | -4.57B | -4.56B | -5.10B | -5.13B |
| Net Cash Per Share | -45.37 | -32.57 | -33.57 | -33.02 | -36.99 | -35.88 |
| Filing Date Shares Outstanding | 125.49M | 126.39M | 131.17M | 135.78M | 136.94M | 140.51M |
| Total Common Shares Outstanding | 125.49M | 126.38M | 131.16M | 135.77M | 137.00M | 140.00M |
| Working Capital | 2.03B | 1.99B | 774.00M | 1.01B | -304.00M | 390.00M |
| Book Value Per Share | 42.11 | 38.90 | 33.64 | 30.94 | 31.38 | 30.65 |
| Tangible Book Value | -3.32B | -1.88B | -2.19B | -2.58B | -3.35B | -3.63B |
| Tangible Book Value Per Share | -26.47 | -14.91 | -16.69 | -18.99 | -24.45 | -25.93 |
| Land | 17.00M | 17.00M | 17.00M | 17.00M | 18.00M | |
| Buildings | 137.00M | 137.00M | 137.00M | 138.00M | 140.00M | |
| Machinery | 953.00M | 872.00M | 798.00M | 673.00M | 537.00M | |
| Construction In Progress | 84.00M | 107.00M | 172.00M | 147.00M | 78.00M | |
| Leasehold Improvements | 590.00M | 567.00M | 455.00M | 404.00M | 367.00M | |
| Order Backlog | 49.03B | 48.39B |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.38B | 1.45B | 1.25B | 199.00M | 685.00M | 753.00M |
| Depreciation & Amortization | 302.00M | 290.00M | 290.00M | 331.00M | 333.00M | 325.00M |
| Asset Writedown & Restructuring Costs | 5.00M | 5.00M | 11.00M | 687.00M | 40.00M | 4.00M |
| Stock-Based Compensation | 100.00M | 95.00M | 85.00M | 77.00M | 73.00M | 67.00M |
| Other Operating Activities | 229.00M | 392.00M | -57.00M | -72.00M | -177.00M | -27.00M |
| Change in Accounts Receivable | -3.00M | -46.00M | -220.00M | -65.00M | -174.00M | -5.00M |
| Change in Accounts Payable | 49.00M | -308.00M | -117.00M | 53.00M | -143.00M | -210.00M |
| Change in Income Taxes | 123.00M | -146.00M | -28.00M | -158.00M | 97.00M | 15.00M |
| Change in Other Net Operating Assets | 119.00M | 20.00M | 217.00M | 135.00M | 258.00M | 111.00M |
| Operating Cash Flow | 2.30B | 1.75B | 1.44B | 1.19B | 992.00M | 1.03B |
| Capital Expenditures | -137.00M | -125.00M | -149.00M | -207.00M | -129.00M | -104.00M |
| Sale of Property, Plant & Equipment | 4.00M | 6.00M | ||||
| Cash Acquisitions | -2.35B | -293.00M | -6.00M | -192.00M | -622.00M | |
| Divestitures | 13.00M | 9.00M | 2.00M | 15.00M | ||
| Other Investing Activities | 4.00M | 7.00M | -13.00M | -4.00M | ||
| Investing Cash Flow | -2.47B | -405.00M | -142.00M | -211.00M | -313.00M | -730.00M |
| Long-Term Debt Issued | 997.00M | 1.74B | 380.00M | 380.00M | ||
| Long-Term Debt Repaid | -1.02B | -18.00M | -2.04B | -545.00M | -106.00M | |
| Total Debt Repaid | -470.00M | -1.02B | -18.00M | -2.04B | -545.00M | -106.00M |
| Net Debt Issued (Repaid) | 927.00M | -22.00M | -18.00M | -302.00M | -165.00M | 274.00M |
| Issuance of Common Stock | 64.00M | 62.00M | 55.00M | 50.00M | 48.00M | 44.00M |
| Repurchase of Common Stock | -722.00M | -944.00M | -906.00M | -246.00M | -542.00M | -270.00M |
| Common Dividends Paid | -216.00M | -211.00M | -208.00M | -201.00M | -199.00M | -199.00M |
| Other Financing Activities | -35.00M | -30.00M | -7.00M | -16.00M | -7.00M | 38.00M |
| Financing Cash Flow | 18.00M | -1.15B | -1.08B | -715.00M | -865.00M | -113.00M |
| Foreign Exchange Rate Adjustments | -1.00M | 13.00M | -10.00M | 6.00M | -6.00M | -2.00M |
| Net Cash Flow | -190.00M | 213.00M | 199.00M | 267.00M | -192.00M | 188.00M |
| Free Cash Flow | 2.16B | 1.62B | 1.29B | 980.00M | 863.00M | 929.00M |
| Free Cash Flow Margin | 12.27% | 9.46% | 7.72% | 6.35% | 6.00% | 6.76% |
| Free Cash Flow Per Share | 16.83 | 12.50 | 9.46 | 7.10 | 6.25 | 6.50 |
| Levered Free Cash Flow | 1.15B | 1.11B | 965.75M | 792.25M | 844.75M | 748.88M |
| Unlevered Free Cash Flow | 1.29B | 1.23B | 1.09B | 924.75M | 969.12M | 863.88M |
| Cash Interest Paid | 232.00M | 220.00M | 226.00M | 207.00M | 195.00M | 182.00M |
| Cash Income Tax Paid | 123.00M | 276.00M | 460.00M | 435.00M | 217.00M | 221.00M |
| Change in Working Capital | 288.00M | -480.00M | -148.00M | -35.00M | 38.00M | -89.00M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 17.94B | 23.46B | 19.63B | 14.88B | 14.38B | 12.48B |
| Enterprise Value | 23.77B | 27.76B | 23.64B | 19.40B | 19.22B | 17.73B |
| Last Close Price | 142.98 | 181.78 | 144.32 | 105.03 | 100.51 | 83.72 |
| PE Ratio | 13.35 | 16.20 | 15.66 | 74.79 | 20.99 | 16.57 |
| Forward PE | 11.82 | 15.61 | 14.37 | 14.61 | 15.37 | 12.88 |
| PS Ratio | 1.02 | 1.37 | 1.18 | 0.96 | 1.00 | 0.91 |
| PB Ratio | 3.40 | 4.73 | 4.40 | 3.50 | 3.30 | 2.87 |
| P/FCF Ratio | 8.30 | 14.44 | 15.27 | 15.19 | 16.66 | 13.43 |
| P/OCF Ratio | 7.80 | 13.40 | 13.68 | 12.54 | 14.49 | 12.08 |
| PEG Ratio | 2.13 | 1.34 | 0.93 | 2.07 | 3.01 | 1.21 |
| EV/Sales Ratio | 1.35 | 1.62 | 1.42 | 1.26 | 1.33 | 1.29 |
| EV/EBITDA Ratio | 9.98 | 11.61 | 11.23 | 11.88 | 13.11 | 11.91 |
| EV/EBIT Ratio | 11.43 | 13.22 | 13.02 | 14.90 | 16.96 | 15.24 |
| EV/FCF Ratio | 10.99 | 17.08 | 18.38 | 19.80 | 22.27 | 19.08 |
| Debt / Equity Ratio | 1.23 | 1.08 | 1.21 | 1.25 | 1.29 | 1.35 |
| Debt / EBITDA Ratio | 2.57 | 2.08 | 2.37 | 2.93 | 3.37 | 3.36 |
| Debt / FCF Ratio | 3.04 | 3.29 | 4.21 | 5.44 | 6.51 | 6.31 |
| Net Debt / Equity Ratio | 1.09 | 0.85 | 1.02 | 1.07 | 1.17 | 1.18 |
| Net Debt / EBITDA Ratio | 2.45 | 1.77 | 2.17 | 2.79 | 3.48 | 3.45 |
| Net Debt / FCF Ratio | 2.69 | 2.61 | 3.55 | 4.65 | 5.91 | 5.52 |
| Asset Turnover | 1.21 | 1.30 | 1.30 | 1.20 | 1.09 | 1.07 |
| Inventory Turnover | 63.30 | 42.85 | 44.37 | 44.20 | 43.89 | 42.63 |
| Quick Ratio | 1.15 | 1.35 | 0.98 | 1.07 | 0.73 | 0.90 |
| Current Ratio | 1.63 | 1.70 | 1.22 | 1.34 | 0.92 | 1.12 |
| Return on Equity (ROE) | 27.78% | 31.03% | 28.70% | 4.83% | 15.94% | 18.48% |
| Return on Assets (ROA) | 8.91% | 9.90% | 8.83% | 6.32% | 5.38% | 5.64% |
| Return on Invested Capital (ROIC) | 14.25% | 17.65% | 15.53% | 7.36% | 9.36% | 9.94% |
| Return on Capital Employed (ROCE) | 16.80% | 19.70% | 19.20% | 13.40% | 12.40% | 11.60% |
| Earnings Yield | 7.49% | 6.17% | 6.39% | 1.34% | 4.76% | 6.04% |
| FCF Yield | 12.05% | 6.93% | 6.55% | 6.58% | 6.00% | 7.45% |
| Dividend Yield | 1.20% | 0.88% | 1.03% | 1.33% | 1.37% | 1.57% |
| Payout Ratio | 16.06% | 14.57% | 16.59% | 101.00% | 29.05% | 26.43% |
| Buyback Yield / Dilution | 3.02% | 4.41% | 1.45% | 3.50% | 0.69% | |
| Total Shareholder Return | 4.22% | 5.29% | 2.48% | 1.33% | 4.87% | 2.27% |