LDOS · Leidos Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $17.17B | $16.66B | $15.44B | $14.40B | $13.74B | $12.30B |
| Cost of Revenue | $14.07B | $13.86B | $13.19B | $12.31B | $11.72B | $10.56B |
| Gross Profit | $3.10B | $2.80B | $2.24B | $2.08B | $2.01B | $1.74B |
| R&D | $187.00M | $150.00M | $128.00M | $116.00M | $109.00M | $73.00M |
| SG&A | $999.00M | $983.00M | $942.00M | $950.00M | $860.00M | $770.00M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $290.00M | $290.00M | $331.00M | $333.00M | $325.00M | $282.00M |
| Operating Income | $2.11B | $1.83B | $621.00M | $1.09B | $1.15B | $998.00M |
| Interest Expense | - | - | - | - | $185.00M | $182.00M |
| Income Tax | $447.00M | $388.00M | $195.00M | $193.00M | $208.00M | $152.00M |
| Net Income | $1.45B | $1.25B | $199.00M | $685.00M | $753.00M | $628.00M |
| EPS - Basic | $11.31 | $9.36 | $1.45 | $5.00 | $5.34 | $4.42 |
| EPS - Diluted | $11.14 | $9.22 | $1.44 | $4.96 | $5.27 | $4.36 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.11B | $943.00M | $777.00M | $516.00M | $727.00M | $524.00M |
| Accounts Receivable | $2.71B | $2.65B | $2.43B | $2.35B | $2.19B | $2.14B |
| Inventory | $342.00M | $315.00M | $310.00M | $287.00M | $274.00M | $276.00M |
| Accounts Payable | $627.00M | $705.00M | $736.00M | $733.00M | $692.00M | $731.00M |
| Current Assets | $4.81B | $4.43B | $4.00B | $3.64B | $3.62B | $3.34B |
| Total Assets | $13.49B | $13.10B | $12.70B | $13.07B | $13.26B | $12.51B |
| Current Liabilities | $2.83B | $3.65B | $2.99B | $3.95B | $3.23B | $2.91B |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $8.53B | $8.64B | $8.44B | $8.72B | $8.92B | - |
| Stockholders' Equity | $4.92B | $4.41B | $4.20B | $4.30B | $4.29B | $3.86B |
| Retained Earnings | $4.65B | $3.41B | $2.36B | $2.37B | $1.88B | $1.33B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.75B | $1.39B | $1.17B | $986.00M | $1.03B | $1.33B |
| Investing Cash Flow | ($405.00M) | ($142.00M) | ($211.00M) | ($313.00M) | ($730.00M) | ($2.81B) |
| Financing Cash Flow | ($1.15B) | ($1.08B) | ($715.00M) | ($865.00M) | ($113.00M) | $1.45B |
| CapEx | $125.00M | $149.00M | $207.00M | $129.00M | $104.00M | $121.00M |
| Free Cash Flow | $1.63B | $1.24B | $958.00M | $857.00M | $927.00M | $1.21B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 18.0% | 16.8% | 14.5% | 14.5% | 14.7% | 14.1% |
| Operating margin | 12.3% | 11.0% | 4.0% | 7.6% | 8.4% | 8.1% |
| EBITDA margin | 14.0% | 12.7% | 6.2% | 9.9% | 10.8% | 10.4% |
| Net margin | 8.4% | 7.5% | 1.3% | 4.8% | 5.5% | 5.1% |
| Free cash flow margin | 9.5% | 7.5% | 6.2% | 6.0% | 6.7% | 9.9% |
| FCF / Net income | 1.12 | 0.99 | 4.81 | 1.25 | 1.23 | 1.93 |
| R&D / Revenue | 1.1% | 0.9% | 0.8% | 0.8% | 0.8% | 0.6% |
| SG&A / Revenue | 5.8% | 5.9% | 6.1% | 6.6% | 6.3% | 6.3% |
| Effective tax rate | 23.6% | 23.6% | 49.5% | 22.0% | 21.6% | 19.5% |
| Return on assets | 10.7% | 9.6% | 1.6% | 5.2% | 5.7% | 5.0% |
| Return on equity | 29.5% | 28.4% | 4.7% | 15.9% | 17.5% | 16.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.70 | 1.21 | 1.34 | 0.92 | 1.12 | 1.15 |
| Quick ratio | 1.58 | 1.13 | 1.24 | 0.85 | 1.04 | 1.05 |
| Cash ratio | 0.39 | 0.26 | 0.26 | 0.13 | 0.23 | 0.18 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | 6.2x | 5.5x |
| Equity multiplier | 2.74 | 2.97 | 3.02 | 3.04 | 3.09 | 3.24 |
| Liabilities / Assets | 0.63 | 0.66 | 0.66 | 0.67 | 0.67 | - |
| Efficiency | ||||||
| Asset turnover | 1.27 | 1.27 | 1.22 | 1.10 | 1.04 | 0.98 |
| Inventory turnover | 41.15 | 44.01 | 42.56 | 42.90 | 42.78 | 38.26 |
| Days sales outstanding | 58d | 58d | 57d | 60d | 58d | 63d |
| Days inventory outstanding | 9d | 8d | 9d | 9d | 9d | 10d |
| Days payable outstanding | 16d | 19d | 20d | 22d | 22d | 25d |
| Cash conversion cycle | 50d | 48d | 46d | 46d | 45d | 48d |
| Valuation | ||||||
| P / E | 16.5x | 16.0x | 75.2x | 21.2x | 16.9x | 24.1x |
| P / B | 4.9x | 4.5x | 3.6x | 3.4x | 3.0x | 3.9x |
| P / S | 1.4x | 1.2x | 1.0x | 1.0x | 0.9x | 1.2x |
| EV / EBITDA | 9.5x | 9.0x | 14.9x | 9.9x | 8.1x | 11.4x |
| Growth | ||||||
| Revenue growth (YoY) | 3.1% | 7.9% | 7.2% | 4.8% | 11.7% | 10.8% |
| Revenue CAGR (3y) | 6.1% | 6.6% | 7.9% | 9.1% | 24.9% | 6.5% |
| Revenue CAGR (5y) | 6.9% | 8.5% | 17.0% | 7.2% | 14.3% | 19.4% |
| Gross profit growth (YoY) | 10.8% | 24.7% | 7.7% | 3.5% | 15.9% | 12.2% |
| Operating income growth (YoY) | 15.4% | 194.2% | -42.9% | -5.6% | 15.4% | 9.4% |
| Net income growth (YoY) | 15.5% | 530.2% | -70.9% | -9.0% | 19.9% | -5.8% |
| EPS growth (YoY) | 20.8% | 540.3% | -71.0% | -5.9% | 20.9% | -5.2% |
| EPS CAGR (3y) | 31.0% | 20.5% | -30.9% | 2.5% | 11.5% | 22.4% |
| EPS CAGR (5y) | 20.6% | 14.9% | -17.6% | 15.8% | 17.5% | - |
| FCF growth (YoY) | 30.7% | 29.7% | 11.8% | -7.6% | -23.6% | 39.3% |
| FCF CAGR (5y) | 6.0% | 7.4% | 6.6% | 14.0% | 17.3% | 27.0% |
| Book value growth (YoY) | 11.4% | 5.0% | -2.3% | 0.2% | 11.1% | 13.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-02.
Business segments
$9.62B totalHealth And Civil Segment$5.07B · 52.7%
Commercial And International Segment$2.31B · 24.1%
Defense Systems Segment$2.18B · 22.6%
National Security And Digital Segment$60.00M · 0.6%
Geographic
$7.56B totalUS$7.52B · 99.4%
Non Us$43.00M · 0.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.40
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Computer Integrated Systems Design
Comparing Leidos Holdings against the 5 most active filers in the same SIC group.
Dividends
$1.66/share trailing 12 months · +6.4% YoY
| Ex-date | Per share |
|---|---|
| Mar 16, 2026 | $0.4300 |
| Dec 15, 2025 | $0.4300 |
| Sep 15, 2025 | $0.4000 |
| Jun 16, 2025 | $0.4000 |
| Mar 14, 2025 | $0.4000 |
| Dec 16, 2024 | $0.4000 |
| Sep 13, 2024 | $0.3800 |
| Jun 14, 2024 | $0.3800 |
| Mar 14, 2024 | $0.3800 |
| Dec 14, 2023 | $0.3800 |
| Sep 14, 2023 | $0.3600 |
| Jun 14, 2023 | $0.3600 |
| Mar 14, 2023 | $0.3600 |
| Dec 14, 2022 | $0.3600 |
| Sep 14, 2022 | $0.3600 |
| Jun 14, 2022 | $0.3600 |
| Mar 14, 2022 | $0.3600 |
| Dec 14, 2021 | $0.3600 |
| Sep 14, 2021 | $0.3600 |
| Jun 14, 2021 | $0.3400 |
| Mar 12, 2021 | $0.3400 |
| Dec 14, 2020 | $0.3400 |
| Sep 14, 2020 | $0.3400 |
| Jun 12, 2020 | $0.3400 |