Leidos

Industrials Diversified Support Services Reston, Virginia Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$17.2B
                    3y CAGR +6.1%
                    
                    P56
                    
                    +3.1%
                    
                    Net income
                    FY2025
                
$1.4B
                    Net margin +8.4%
                    
                    P30
                    
                    +15.5%
                    
                    Total assets
                    FY2025
                
$13.5B
                    ROA +10.7%
                    
                    P68
                    
                    +3.0%
                    
                    Operating cash flow
                    FY2025
                
$1.8B
                    FCF margin +9.5%
                    
                    P37
                    
                    +22.0%

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $13.5B

Total liabilities $8.5B

Shareholders equity $4.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$1.1B 17.5%	$943.0M 21.4%	$777.0M
Accounts Receivable	$2.7B 2.4%	$2.6B 8.9%	$2.4B
Inventory	$342.0M 8.6%	$315.0M 1.6%	$310.0M
Other Current Assets	$656.0M 25.0%	$525.0M 7.4%	$489.0M
Total Current Assets	$4.8B 8.7%	$4.4B 10.6%	$4.0B
Property,Plant and Equipment	$961.0M -3.0%	$991.0M 3.1%	$961.0M
Operating Lease Assets	$526.0M -6.1%	$560.0M 9.4%	$512.0M
Goodwill	$6.3B 4.2%	$6.1B -0.5%	$6.1B
Intangible Assets	$458.0M -11.4%	$517.0M -22.5%	$667.0M
Deferred Tax Assets	$48.0M	—	—
Other Noncurrent Assets	$344.0M -34.4%	$524.0M 19.6%	$438.0M
Total Assets	$13.5B 3.0%	$13.1B 3.2%	$12.7B
Liabilities
Accounts Payable	$2.0B -10.7%	$2.2B -2.3%	$2.3B
Accrued Liabilities	$819.0M 1.0%	$811.0M 16.7%	$695.0M
Current Portion of Long Term Debt	$20.0M -96.8%	$618.0M 3333.3%	$18.0M
Total Current Liabilities	$2.8B -22.6%	$3.7B 22.2%	$3.0B
Long Term Debt	$4.6B 14.2%	$4.1B -13.1%	$4.7B
Operating Lease Liabilities Noncurrent	$587.0M -5.5%	$621.0M 20.3%	$516.0M
Deferred Tax Liabilities	$221.0M	—	—
Other Noncurrent Liabilities	$268.0M -15.5%	$317.0M 18.7%	$267.0M
Total Liabilities	$8.5B -1.3%	$8.6B 2.5%	$8.4B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$0	$0	$0
Additional Paid In Capital	$319.0M -71.3%	$1.1B -41.0%	$1.9B
Retained Earnings	$4.6B 36.3%	$3.4B 44.2%	$2.4B
Accumulated Other Comprehensive Income	$-50.0M 54.5%	$-110.0M -129.2%	$-48.0M
Total Stockholders Equity	$4.9B 11.4%	$4.4B 5.0%	$4.2B
Noncontrolling Interest	$46.0M -4.2%	$48.0M -15.8%	$57.0M
Total Liabilitiesand Equity	$13.5B 3.0%	$13.1B 3.2%	$12.7B

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $17.2B

Operating income $2.1B

Net income $1.4B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$17.2B 3.1%	$16.7B 7.9%	$15.4B
Expenses Cost of Revenue	$14.1B 1.5%	$13.9B 5.1%	$13.2B
Expenses Selling,General and Administrative	$999.0M 1.6%	$983.0M 4.4%	$942.0M
Expenses Restructuring and Asset Impairment	$0	$0 -100.0%	$596.0M
Expenses Other Operating Expenses	$-9.0M 25.0%	$-12.0M -114.1%	$85.0M
Other Income Expense Operating Income	$2.1B 15.4%	$1.8B 194.2%	$621.0M
Other Income Expense Interest Expense	$203.0M 5.2%	$193.0M -9.0%	$212.0M
Other Income Expense Other Income/expense	$3.0M -40.0%	$5.0M 183.3%	$-6.0M
Other Income Expense Income Before Tax	$1.9B 16.5%	$1.6B 306.7%	$403.0M
Income Tax Income Tax Expense	$447.0M 15.2%	$388.0M 99.0%	$195.0M
net Income Other Items Below Tax	$-14.0M -566.7%	$3.0M 133.3%	$-9.0M
net Income net Income	$1.4B 15.5%	$1.3B 530.2%	$199.0M
net Income Comprehensive Income	$1.5B 26.5%	$1.2B 432.1%	$224.0M
Earnings Per Share Basic Eps	$11 20.8%	$9 545.5%	$1
Earnings Per Share Diluted Eps	$11 20.8%	$9 540.3%	$1

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $1.8B

Investing cash flow $-405.0M

Financing cash flow $-1.1B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$1.5B 16.9%	$1.3B 501.4%	$208.0M
Operating Activities Depreciation and Amortization	$290.0M 0.0%	$290.0M -12.4%	$331.0M
Operating Activities Stock Based Compensation	$95.0M 11.8%	$85.0M 10.4%	$77.0M
Operating Activities Deferred Income Taxes	$369.0M 476.5%	$-98.0M 10.1%	$-109.0M
Operating Activities Changes In Operating Assets and Liabilities	$-480.0M -224.3%	$-148.0M -322.9%	$-35.0M
Operating Activities Other Non Cash Items	$14.0M -74.5%	$55.0M -92.3%	$715.0M
Operating Activities net Cash From Operating Activities	$1.8B 22.0%	$1.4B 20.9%	$1.2B
Investing Activities Capital Expenditures	$-125.0M 16.1%	$-149.0M 28.0%	$-207.0M
Investing Activities Business Acquisitions	$-293.0M	$0 100.0%	$-6.0M
Investing Activities Other Investing Activities	$13.0M 85.7%	$7.0M 250.0%	$2.0M
Investing Activities net Cash From Investing Activities	$-405.0M -185.2%	$-142.0M 32.7%	$-211.0M
Financing Activities Proceeds From Debt	$997.0M	$0 -100.0%	$1.7B
Financing Activities Repayment of Debt	$-1.0B -5561.1%	$-18.0M 99.1%	$-2.0B
Financing Activities Repurchase of Common Stock	$-944.0M -4.2%	$-906.0M -268.3%	$-246.0M
Financing Activities Dividends Paid	$-211.0M -1.4%	$-208.0M -3.5%	$-201.0M
Financing Activities Proceeds From Stock Issuance	$62.0M 12.7%	$55.0M 10.0%	$50.0M
Financing Activities Other Financing Activities	$-30.0M -328.6%	$-7.0M 56.3%	$-16.0M
Financing Activities net Cash From Financing Activities	$-1.1B -5.6%	$-1.1B -51.6%	$-715.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$13.0M 230.0%	$-10.0M -266.7%	$6.0M
Cash Reconciliation net Change In Cash	$213.0M 7.0%	$199.0M -25.5%	$267.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+18.0%	+16.8%	+14.5%
Operating margin	+12.3%	+11.0%	+4.0%
Net margin	+8.4%	+7.5%	+1.3%
FCF margin	+9.5%	+7.7%	+6.3%
Growth
Revenue CAGR (3y)	+6.1%	+6.6%	+7.9%
Returns
ROE	+29.5%	+28.4%	+4.7%
ROA	+10.7%	+9.6%	+1.6%
ROIC	+19.1%	+17.1%	+4.0%
Liquidity
Current ratio	1.70x	1.21x	1.34x
Quick ratio	1.35x	0.98x	1.07x
Leverage
D/E	1.74x	1.96x	2.01x
Interest coverage	10.39x	9.47x	2.93x
Efficiency
Asset turnover	1.27x	1.27x	1.22x
Cash conversion cycle	+15d	+8d	+3d

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Leidos

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