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

Each cell as a share of that year’s revenue.

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	6.5%	5.7%	5.0%
Accounts Receivable	15.8%	15.9%	15.7%
Inventory	2.0%	1.9%	2.0%
Other Current Assets	3.8%	3.2%	3.2%
Total Current Assets	28.0%	26.6%	25.9%
Property,Plant and Equipment	5.6%	5.9%	6.2%
Operating Lease Assets	3.1%	3.4%	3.3%
Goodwill	36.9%	36.5%	39.6%
Intangible Assets	2.7%	3.1%	4.3%
Deferred Tax Assets	0.3%	—	—
Other Noncurrent Assets	2.0%	3.1%	2.8%
Total Assets	78.6%	78.6%	82.2%
Liabilities
Accounts Payable	11.6%	13.4%	14.7%
Accrued Liabilities	4.8%	4.9%	4.5%
Current Portion of Long Term Debt	0.1%	3.7%	0.1%
Total Current Liabilities	16.5%	21.9%	19.4%
Long Term Debt	26.9%	24.3%	30.2%
Operating Lease Liabilities Noncurrent	3.4%	3.7%	3.3%
Deferred Tax Liabilities	1.3%	—	—
Other Noncurrent Liabilities	1.6%	1.9%	1.7%
Total Liabilities	49.7%	51.9%	54.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	1.9%	6.7%	12.2%
Retained Earnings	27.1%	20.5%	15.3%
Accumulated Other Comprehensive Income	-0.3%	-0.7%	-0.3%
Total Stockholders Equity	28.6%	26.5%	27.2%
Noncontrolling Interest	0.3%	0.3%	0.4%
Total Liabilitiesand Equity	78.6%	78.6%	82.2%

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	100.0%	100.0%	100.0%
Expenses Cost of Revenue	82.0%	83.2%	85.5%
Expenses Selling,General and Administrative	5.8%	5.9%	6.1%
Expenses Restructuring and Asset Impairment	0.0%	0.0%	3.9%
Expenses Other Operating Expenses	-0.1%	-0.1%	0.6%
Other Income Expense Operating Income	12.3%	11.0%	4.0%
Other Income Expense Interest Expense	1.2%	1.2%	1.4%
Other Income Expense Other Income/expense	0.0%	0.0%	-0.0%
Other Income Expense Income Before Tax	11.1%	9.8%	2.6%
Income Tax Income Tax Expense	2.6%	2.3%	1.3%
net Income Other Items Below Tax	-0.1%	0.0%	-0.1%
net Income net Income	8.4%	7.5%	1.3%
net Income Comprehensive Income	8.8%	7.2%	1.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%

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	8.5%	7.5%	1.3%
Operating Activities Depreciation and Amortization	1.7%	1.7%	2.1%
Operating Activities Stock Based Compensation	0.6%	0.5%	0.5%
Operating Activities Deferred Income Taxes	2.1%	-0.6%	-0.7%
Operating Activities Changes In Operating Assets and Liabilities	-2.8%	-0.9%	-0.2%
Operating Activities Other Non Cash Items	0.1%	0.3%	4.6%
Operating Activities net Cash From Operating Activities	10.2%	8.6%	7.7%
Investing Activities Capital Expenditures	-0.7%	-0.9%	-1.3%
Investing Activities Business Acquisitions	-1.7%	0.0%	-0.0%
Investing Activities Other Investing Activities	0.1%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-2.4%	-0.9%	-1.4%
Financing Activities Proceeds From Debt	5.8%	0.0%	11.3%
Financing Activities Repayment of Debt	-5.9%	-0.1%	-13.2%
Financing Activities Repurchase of Common Stock	-5.5%	-5.4%	-1.6%
Financing Activities Dividends Paid	-1.2%	-1.2%	-1.3%
Financing Activities Proceeds From Stock Issuance	0.4%	0.3%	0.3%
Financing Activities Other Financing Activities	-0.2%	-0.0%	-0.1%
Financing Activities net Cash From Financing Activities	-6.7%	-6.5%	-4.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%
Cash Reconciliation net Change In Cash	1.2%	1.2%	1.7%

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

Valuation

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FY2025 fundamentals · no price

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Leidos

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