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Leidos Holdings, Inc.

LDOS NYSE Categories PDF
Technology · Information Technology Services
Reston, VA 20190, United States IPO 2006 leidos.com Updated Jun 26, 11:20am
Price
$101.73
Market Cap
$12.8B
Employees
47,000
Beta
0.52
Avg Volume
1,314,312
CEO
Thomas A. Bell
Business Description

Leidos Holdings, Inc., along with its various subsidiaries, delivers a broad spectrum of services and innovative solutions across key markets: defense, intelligence, civil government, and health. The company operates both domestically within the United States and on an international scale. Its operations are organized into three principal divisions: Defense Solutions, Civil, and Health. The Defense Solutions segment is dedicated to providing national security systems and specialized support spanning air, land, sea, space, and cyberspace domains. Its extensive client base includes the U.S. Intelligence Community, the Department of Defense, NASA, various military branches, allied foreign governments, and other federal and commercial entities within the national security sector. This division's offerings encompass advanced technology, large-scale systems integration, command and control platforms, sophisticated data analytics, logistics, robust cybersecurity defenses, and crucial intelligence analysis and operational support for critical missions. The Civil segment offers systems integration capabilities primarily to air navigation service providers, such as the Federal Aviation Administration (FAA). This involves critical programs like En Route Automation Modernization (ERAM), Advanced Technology Oceanic Procedure (ATOP), Time Based Flow Management (TBFM), Terminal Flight Data Management (TFDM), GEO-7, and Future Flight Services, as well as developing enterprise-wide information display systems. Additionally, this segment provides security detection and automation services. Its portfolio further extends to comprehensive information technology (IT) solutions, covering areas like cloud computing, mobility, application modernization, DevOps, data center operations, network upgrades, asset management, help desk support, and digital workplace enablement. Environmental, energy, and infrastructure services also fall under this division. Finally, the Health segment furnishes solutions to both federal and commercial clients globally, focusing on initiatives that promote human health and well-being. This includes services such as health information management, managed healthcare programs, digital transformation projects, and support for life sciences research and development. Leidos Holdings, Inc. was established in 1969 and is based out of Reston, Virginia.

Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 21, 2026 7:57pm (5d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
9.07
Stock Price: $101.73
EPS (Diluted): 11.22
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
4.94
Stock Price: $101.73
Total Equity: $4.92B
Shares: 132,411,067
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
12.06
Market Cap: $12.80B
Total Debt: $5.34B
Cash: $1.20B
EBITDA: $2.41B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$29.0B
Market Cap: $12.80B
Total Debt: $5.34B
Cash: $1.20B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
17.7%
Gross Profit: $3.03B
Revenue: $17.17B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
12.3%
Operating Income: $2.11B
Revenue: $17.17B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
8.5%
Net Income: $1.46B
Revenue: $17.17B
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
29.6%
Net Income: $1.46B
Total Equity: $4.92B
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
17.9%
Operating Income: $2.11B
Tax Rate: 23.2%
Equity: $4.92B
Total Debt: $5.34B
Cash: $1.20B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
1.70
Current Assets: $4.81B
Current Liabilities: $2.83B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
1.09
Short-Term Debt: $127.00M
Long-Term Debt: $5.22B
Total Debt: $5.34B
Total Equity: $4.92B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$129.70
Revenue: $17.17B
Shares: 132,411,067
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$37.13
Total Equity: $4.92B
Shares: 132,411,067
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$12.27
Operating CF: $1.75B
CapEx: -$125.00M
Shares: 132,411,067
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.9%
Last Dividend: N/A
Stock Price: $101.73
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.46B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares LDOS against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:57pm (5d ago)
Metric 2021 2022 2023 2025 2026
Revenue $13.7B $14.4B $15.4B $16.7B $17.2B
Cost of Revenue $11.7B $12.3B $13.2B $13.9B $14.1B
Gross Profit $2.0B $2.1B $2.2B $2.8B $3.0B
Operating Expenses $862.0M $996.0M $1.6B $971.0M $925.9M
Operating Income $1.2B $1.1B $621.0M $1.8B $2.1B
Net Income $753.0M $685.0M $199.0M $1.3B $1.5B
EBITDA $1.5B $1.4B $946.0M $2.1B $2.4B
EPS $5.34 $5.00 $1.45 $9.36 $11.22
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:52pm (5d ago)
Metric 2021 2022 2023 2025 2026
Cash & Equivalents $727.0M $516.0M $777.0M $943.0M $1.2B
Total Current Assets $3.6B $3.6B $4.0B $4.4B $4.8B
Total Assets $13.3B $13.1B $12.7B $13.1B $13.5B
Current Liabilities $3.2B $3.9B $3.0B $3.7B $2.8B
Long-Term Debt $4.6B $3.9B $4.7B $4.1B $5.2B
Total Liabilities $8.9B $8.7B $8.4B $8.6B $8.5B
Total Equity $4.3B $4.3B $4.2B $4.4B $4.9B
Retained Earnings $1.9B $2.4B $2.4B $3.4B $4.6B
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:52pm (5d ago)
Metric 2021 2022 2023 2025 2026
Operating Cash Flow $1.0B $986.0M $1.2B $1.4B $1.8B
Capital Expenditure -$104.0M -$129.0M -$207.0M -$149.0M -$125.0M
Free Cash Flow $927.0M $857.0M $958.0M $1.2B $1.6B
Acquisitions (net) -$622.0M -$177.0M -$6.0M $0 -$300.0M
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$270.0M -$542.0M -$246.0M -$906.0M -$944.0M
Net Change in Cash $188.0M -$192.0M $245.0M $156.0M $213.0M
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:20am (21h ago)
Metric 2026 2027 2028 2029
Revenue $17.3B
$17.2B – $17.3B
 $18.2B
$17.9B – $18.5B
 $19.1B
$18.7B – $19.4B
 $20.0B
$20.0B – $20.0B
EBITDA $3.2B
$3.2B – $3.2B
 $3.4B
$3.3B – $3.4B
 $3.5B
$3.4B – $3.6B
 $3.7B
$3.7B – $3.7B
Net Income $1.6B
$1.5B – $1.6B
 $1.6B
$1.6B – $1.6B
 $1.7B
$1.7B – $1.8B
 $1.9B
$1.7B – $2.1B
EPS — — — —
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:57pm (5d ago)
Metric 2022 2023 2025 2026
Revenue Growth +4.8% +7.2% +7.9% +3.1%
Gross Profit Growth +3.5% +7.7% +24.7% +8.4%
Operating Income Growth -5.6% -42.9% +194.2% +15.3%
Net Income Growth -9.0% -70.9% +530.2% +16.1%
EBITDA Growth -3.9% -33.3% +124.3% +13.4%
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:52pm (5d ago)
Date Dividend Declaration Record Payment
2026-06-15 $0.43 2026-05-01 2026-06-15 2026-06-30
2026-03-16 $0.43 2026-02-13 2026-03-16 2026-03-31
2025-12-15 $0.43 2025-10-31 2025-12-15 2025-12-31
2025-09-15 $0.40 2025-08-01 2025-09-15 2025-09-30
2025-06-16 $0.40 2025-05-02 2025-06-16 2025-06-30
2025-03-14 $0.40 2025-02-07 2025-03-14 2025-03-28
2024-12-16 $0.40 2024-10-25 2024-12-16 2024-12-31
2024-09-13 $0.38 2024-07-26 2024-09-13 2024-09-27
2024-06-14 $0.38 2024-04-26 2024-06-14 2024-06-28
2024-03-14 $0.38 2024-02-08 2024-03-15 2024-03-28
2023-12-14 $0.38 2023-10-27 2023-12-15 2023-12-29
2023-09-14 $0.36 2023-07-28 2023-09-15 2023-09-29
2023-06-14 $0.36 2023-04-28 2023-06-15 2023-06-30
2023-03-14 $0.36 2023-02-10 2023-03-15 2023-03-31
2022-12-14 $0.36 2022-10-28 2022-12-15 2022-12-30
2022-09-14 $0.36 2022-07-29 2022-09-15 2022-09-30
2022-06-14 $0.36 2022-04-29 2022-06-15 2022-06-30
2022-03-14 $0.36 2022-02-11 2022-03-15 2022-03-31
2021-12-14 $0.36 2021-10-29 2021-12-15 2021-12-30
2021-09-14 $0.36 2021-07-30 2021-09-15 2021-09-30
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for LDOS — it's generated by the pipeline (market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30