Leidos Holdings, Inc. LDOS

Technology SIC 7373 - Services-Computer Integrated Systems Design NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services derived NYSE

Leidos Holdings, Inc. ("Leidos"), a Delaware corporation, is a holding company whose direct 100%-owned subsidiary and principal operating company is Leidos, Inc. Leidos was founded in 1969 by physicist Dr. Robert Beyster. Since our founding 57 years ago, we have applied our expertise in science, research and engineering in rapidly-evolving technologies and markets to solve complex problems of global concern.

We use the terms "we," "us" and "our" to refer collectively to Leidos Holdings, Inc. and its consolidated subsidiaries. Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 47,000, global employees, we pursue strategic growth across five pillars: space and maritime; energy infrastructure; digital modernization and cyber; mission software; and managed health services. Our customers include the U.S. Department of War ("DoW"), the U.S. Intelligence Community, the U.S. Department of Homeland Security ("DHS"), the Federal Aviation Administration ("FAA"), the Department of Veterans Affairs ("VA") and many other U.S. civilian, state and local government agencies, foreign government agencies and commercial businesses. With a focus on delivering mission-critical solutions, Leidos generated 87% of revenues for the fiscal year ended January 2, 2026, ("fiscal 2025") from U.S. government contracts, either as a prime contractor or a subcontractor to others. Approximately 8% of our revenues are generated by entities located outside of the United States.

Last close 136.08 2026-10-23
Market cap $17.08B 2026-07-03 share count
52-week range 98.86 - 205.77

Valuation FY2025 figures against the last close

P/S1.0x
P/E12.2x
P/FCF10.5x
EV/EBITDA6.7x
Dividend yield—
Diluted EPS11.14

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 15.7B (91.8%) 92% United States International, FY2025: 1.4B (8.2%) 8% FY2024 United States, FY2024: 15.2B (91.7%) 92% International, FY2024: 1.4B (8.3%) 8% FY2023 United States, FY2023: 14B (91.4%) 91% International, FY2023: 1.3B (8.6%) 9%
Region FY2025FY2024FY2023
United States $15.70B $15.21B $14.02B
International $1.40B $1.37B $1.32B

As the company reported it, from the “Revenues (Disaggregated Revenue) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $17.11B$16.58B$15.34B$14.29B$13.62B$12.20B$10.98B$10.19B$10.17B$7.04B
Cost of revenue $14.07B$13.86B$13.19B$12.31B$11.72B$10.56B$9.55B$8.69B$8.74B$6.10B
Gross profit $3.03B$2.71B$2.15B$1.98B$1.89B$1.64B$1.43B$1.50B$1.43B$940.0M
R&D $187.0M$150.0M$128.0M$116.0M$109.0M$73.0M$49.0M$46.0M$42.0M$44.0M
SG&A $999.0M$983.0M$942.0M$951.0M$851.0M$770.0M$689.0M$729.0M$737.0M$422.0M
Operating income $2.11B$1.83B$621.0M$1.09B$1.15B$998.0M$912.0M$749.0M$559.0M$417.0M
Interest expense $203.0M$193.0M$212.0M$199.0M$184.0M$179.0M$147.0M$145.0M$148.0M$96.0M
Pre-tax income $1.91B$1.64B$403.0M$886.0M$967.0M$781.0M$866.0M$610.0M$393.0M$318.0M
Income tax $447.0M$388.0M$195.0M$193.0M$208.0M$152.0M$196.0M$28.0M$29.0M$72.0M
Net income $1.45B$1.25B$199.0M$685.0M$753.0M$628.0M$667.0M$581.0M$366.0M$244.0M
EPS, basic 11.319.361.455.005.344.424.663.852.412.39
EPS, diluted 11.149.221.444.965.274.364.603.802.382.35
Shares, diluted (wtd. avg.) 130.0M136.0M138.0M138.0M143.0M144.0M145.0M153.0M154.0M104.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.11B$849.0M$641.0M$525.0M$875.0M$687.0M$717.0M$369.0M$422.0M$396.0M
Receivables $2.71B$2.65B$2.43B$2.35B$2.19B$2.14B$1.73B$1.88B$1.83B$1.66B
Inventory $342.0M$315.0M$310.0M$287.0M$274.0M$276.0M$72.0M—$76.0M$67.0M
Total current assets $4.81B$4.33B$4.00B$3.64B$3.62B$3.34B$2.81B$2.84B$2.67B$2.38B
Property, plant and equipment ———————$237.0M$232.0M$259.0M
Goodwill $6.34B$6.08B$6.11B$6.70B$6.74B$6.31B$4.91B$4.86B$4.97B$4.62B
Other intangibles $458.0M$517.0M$667.0M$952.0M$1.18B$1.22B$530.0M$652.0M$856.0M$1.59B
Total assets $13.49B$13.01B$12.70B$13.07B$13.26B$12.51B$9.37B$8.77B$8.99B$9.13B
Accounts payable $627.0M$611.0M$736.0M$733.0M$692.0M$731.0M$592.0M$547.0M$557.0M$591.0M
Short-term debt $20.0M$618.0M$18.0M$992.0M$483.0M$100.0M$61.0M$72.0M$55.0M$62.0M
Total current liabilities $2.83B$3.56B$2.99B$3.95B$3.23B$2.91B$2.33B$2.06B$2.20B$2.02B
Total liabilities $8.53B$8.55B$8.44B$8.72B$8.92B$8.64B————
Retained earnings $4.65B$3.41B$2.36B$2.37B$1.88B$1.33B$896.0M$372.0M-$7.0M-$177.0M
Total equity $4.92B$4.41B$4.26B$4.35B$4.34B$3.87B$3.42B$3.31B$3.38B$3.15B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.75B$1.44B$1.19B$992.0M$1.03B$1.33B$992.0M$768.0M$526.0M$449.0M
Depreciation and amortisation $290.0M$290.0M$331.0M$333.0M$325.0M$282.0M$234.0M$257.0M$336.0M$122.0M
Stock-based compensation $95.0M$85.0M$77.0M$73.0M$67.0M$62.0M$52.0M$44.0M$43.0M$35.0M
Capital expenditure $125.0M$149.0M$207.0M$129.0M$104.0M$183.0M$121.0M$73.0M$81.0M$29.0M
Investing cash flow -$405.0M-$142.0M-$211.0M-$313.0M-$730.0M-$2.81B$65.0M-$114.0M-$71.0M$26.0M
Financing cash flow -$1.15B-$1.08B-$715.0M-$865.0M-$113.0M$1.45B-$709.0M-$707.0M-$429.0M-$751.0M
Dividends paid ———————$0$0$993.0M
Buybacks $400.0M$850.0M$225.0M$0$237.0M$67.0M$25.0M$167.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001336920-26-000030.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 7B Gross profit, FY2016: 940M Net income, FY2016: 244M Revenue, FY2017: 10.2B Gross profit, FY2017: 1.4B Net income, FY2017: 366M Revenue, FY2018: 10.2B Gross profit, FY2018: 1.5B Net income, FY2018: 581M Revenue, FY2019: 11B Gross profit, FY2019: 1.4B Net income, FY2019: 667M Revenue, FY2020: 12.2B Gross profit, FY2020: 1.6B Net income, FY2020: 628M Revenue, FY2021: 13.6B Gross profit, FY2021: 1.9B Net income, FY2021: 753M Revenue, FY2022: 14.3B Gross profit, FY2022: 2B Net income, FY2022: 685M Revenue, FY2023: 15.3B Gross profit, FY2023: 2.1B Net income, FY2023: 199M Revenue, FY2024: 16.6B Gross profit, FY2024: 2.7B Net income, FY2024: 1.3B Revenue, FY2025: 17.1B Gross profit, FY2025: 3B Net income, FY2025: 1.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $7.04B $10.17B $10.19B $10.98B $12.20B $13.62B $14.29B $15.34B $16.58B $17.11B
Gross profit $940.0M $1.43B $1.50B $1.43B $1.64B $1.89B $1.98B $2.15B $2.71B $3.03B
Net income $244.0M $366.0M $581.0M $667.0M $628.0M $753.0M $685.0M $199.0M $1.25B $1.45B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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