Amentum Holdings, Inc.
AMTM NYSE Services-Business Services, Nec Financials FY2022–FY2025
Revenue
Total sales reported in the income statement.
$14.4B
71.6%
vs prior year
Operating margin
Operating income as a share of revenue.
3.3%
0.1 pts
Net income
Profit after all expenses, interest and tax.
$66.0M
Free cash flow
Cash from operations minus capital spending.
$516M
1,333.3%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
3.9%
1.2 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.83 EPS (TTM)
What Amentum Holdings, Inc. does
No business description yet.
- Legal name
- Amentum Holdings, Inc.
- Fiscal year ends
- October 3, 2025
- Latest annual report
- 10-K · Nov 25, 2025
- Accession · CIK
- 0001628280-25-053993
0002011286
Revenue and margins
Amentum Holdings, Inc. had $14.4B of revenue in fiscal 2025, up 71.6% on the year before.
FY22
Revenue $7.7B
FY23
Revenue $7.9B
FY24
Revenue $8.4B
FY25
Revenue $14.4B
Q1 '24
Revenue $2.0B
Q2 '24
Revenue $2.1B
Q3 '24
Revenue $2.1B
Q4 '24
Revenue $2.2B
Q1 '25
Revenue $3.4B
Q2 '25
Revenue $3.5B
Q3 '25
Revenue $3.6B
Q4 '25
Revenue $3.9B
Q1 '26
Revenue $3.2B
Q2 '26
Revenue $3.5B
Q3 '26
Revenue $3.5B
FY22
Gross 10.0%
Operating 1.6%
Net −1.1%
FCF 1.4%
FY23
Gross 9.9%
Operating 0.7%
Net −4.0%
FCF 0.7%
FY24
Gross 9.5%
Operating 3.5%
Net −1.0%
FCF 0.4%
FY25
Gross 10.5%
Operating 3.3%
Net 0.5%
FCF 3.6%
Gross
Operating
Net
FCF
Q1 '24
Gross 9.8%
Operating 4.3%
Net −2.1%
FCF −4.3%
Q2 '24
Gross 9.8%
Operating 4.3%
Net −2.0%
FCF 0.1%
Q3 '24
Gross 9.6%
Operating 4.2%
Net −1.2%
FCF 11.0%
Q4 '24
Gross 9.0%
Operating 1.2%
Net 1.2%
FCF −5.3%
Q1 '25
Gross 10.6%
Operating 3.9%
Net 0.4%
FCF 3.0%
Q2 '25
Gross 10.5%
Operating 3.2%
Net 0.1%
FCF 1.5%
Q3 '25
Gross 10.3%
Operating 2.9%
Net 0.3%
FCF 2.8%
Q4 '25
Gross 10.6%
Operating 3.4%
Net 1.0%
FCF 6.6%
Q1 '26
Gross 10.1%
Operating 4.3%
Net 1.4%
FCF −4.4%
Q2 '26
Gross 9.9%
Operating 4.3%
Net 1.6%
FCF 6.3%
Q3 '26
Gross 10.3%
Operating 4.9%
Net 1.9%
FCF 3.9%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income −$84.0M
FY23
Net income −$314M
FY24
Net income −$82.0M
FY25
Net income $66.0M
Q1 '24
Net income −$41.0M
Q2 '24
Net income −$41.0M
Q3 '24
Net income −$26.0M
Q4 '24
Net income $26.0M
Q1 '25
Net income $12.0M
Q2 '25
Net income $4.0M
Q3 '25
Net income $10.0M
Q4 '25
Net income $40.0M
Q1 '26
Net income $44.0M
Q2 '26
Net income $54.0M
Q3 '26
Net income $66.0M
FY22
Diluted EPS −$0.93
FY23
Diluted EPS −$3.49
FY24
Diluted EPS −$0.90
FY25
Diluted EPS $0.27
Q1 '24
Diluted EPS −$0.46
Q2 '24
Diluted EPS −$0.46
Q3 '24
Diluted EPS −$0.29
Q4 '24
Diluted EPS $0.31
Q1 '25
Diluted EPS $0.05
Q2 '25
Diluted EPS $0.02
Q3 '25
Diluted EPS $0.04
Q4 '25
Diluted EPS $0.16
Q1 '26
Diluted EPS $0.18
Q2 '26
Diluted EPS $0.22
Q3 '26
Diluted EPS $0.27
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity −11.9%
Return on assets —
FY23
Return on capital 1.1%
Return on equity −58.1%
Return on assets −4.9%
FY24
Return on capital 2.6%
Return on equity −3.4%
Return on assets −0.9%
FY25
Return on capital 3.9%
Return on equity 1.5%
Return on assets 0.6%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $516M in fiscal 2025, 3.6% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow $108M
FY23
Free cash flow $55.0M
FY24
Free cash flow $36.0M
FY25
Free cash flow $516M
Q1 '24
Free cash flow −$85.0M
Q2 '24
Free cash flow $2.0M
Q3 '24
Free cash flow $236M
Q4 '24
Free cash flow −$117M
Q1 '25
Free cash flow $102M
Q2 '25
Free cash flow $53.0M
Q3 '25
Free cash flow $100M
Q4 '25
Free cash flow $261M
Q1 '26
Free cash flow −$142M
Q2 '26
Free cash flow $220M
Q3 '26
Free cash flow $135M
FY22
Cash from operations $126M
Capital spending $18.0M
FY23
Cash from operations $67.0M
Capital spending $12.0M
FY24
Cash from operations $47.0M
Capital spending $11.0M
FY25
Cash from operations $543M
Capital spending $27.0M
Cash from operations
Capital spending
Q1 '24
Cash from operations −$83.0M
Capital spending $2.0M
Q2 '24
Cash from operations $5.0M
Capital spending $3.0M
Q3 '24
Cash from operations $238M
Capital spending $2.0M
Q4 '24
Cash from operations −$113M
Capital spending $4.0M
Q1 '25
Cash from operations $110M
Capital spending $8.0M
Q2 '25
Cash from operations $57.0M
Capital spending $4.0M
Q3 '25
Cash from operations $106M
Capital spending $6.0M
Q4 '25
Cash from operations $270M
Capital spending $9.0M
Q1 '26
Cash from operations −$136M
Capital spending $6.0M
Q2 '26
Cash from operations $225M
Capital spending $5.0M
Q3 '26
Cash from operations $146M
Capital spending $11.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Amentum Holdings, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 168.1%.
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY22
Diluted shares 0.09B
FY23
Diluted shares 0.09B
FY24
Diluted shares 0.09B
FY25
Diluted shares 0.24B
Balance sheet
Cash, debt and the ratios that show how comfortably Amentum Holdings, Inc. can carry it.
FY22
Cash $366M
Debt —
FY23
Cash $305M
Debt $4.1B
FY24
Cash $452M
Debt $4.7B
FY25
Cash $437M
Debt $3.9B
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $366M | $305M | $452M | $437M |
| Debt incl. finance leases | — | $4.1B | $4.7B | $3.9B |
| Net debt / EBITDA | — | 45.3x | 13.5x | 6.7x |
| Debt / equity | — | 11.0x | 1.0x | 0.9x |
| Current ratio | — | 1.4x | 1.6x | 1.3x |
| Quick ratio | — | 1.4x | 1.6x | 1.3x |
| Total assets | — | $6.4B | $12.0B | $11.5B |
| Total liabilities | — | $6.0B | $7.4B | $6.8B |
| Shareholders' equity | $706M | $375M | $4.5B | $4.5B |
| Net debt (− = net cash) | — | $3.8B | $4.2B | $3.5B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | ✓ |
| Current ratio rose | — | — | ✓ | ✕ |
| Share count didn't rise | — | ✓ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✕ | ✓ |
| Revenue rose relative to assets | — | — | ✕ | ✓ |
| F-score | — / 3 | — / 5 | 5 / 9 | 7 / 9 |
| Accruals ratio | — | −5.9% | −1.4% | −4.1% |
| Altman Z'' | — | 0.47 | 1.26 | 1.28 |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $7.7B | $7.9B | $8.4B | $14.4B |
| Gross profit | $771M | $782M | $798M | $1.5B |
| Operating income | $121M | $57.0M | $291M | $480M |
| Pretax income | −$64.0M | −$340M | −$123M | $115M |
| Income tax | $14.0M | −$19.0M | −$40.0M | $56.0M |
| Net income | −$84.0M | −$314M | −$82.0M | $66.0M |
| Diluted EPS | −$0.93 | −$3.49 | −$0.90 | $0.27 |
| Diluted shares | 0.09B | 0.09B | 0.09B | 0.24B |
| Cash flow | ||||
| Cash from operations | $126M | $67.0M | $47.0M | $543M |
| Capital expenditure | $18.0M | $12.0M | $11.0M | $27.0M |
| Free cash flow | $108M | $55.0M | $36.0M | $516M |
| Depreciation and amortization | $20.0M | $27.0M | $23.0M | $40.0M |
| Stock-based compensation | $3.0M | $3.0M | $18.0M | $21.0M |
| Acquisitions | $1.8B | $0.0M | −$488M | $70.0M |
| Balance sheet | ||||
| Cash and short-term investments | $366M | $305M | $452M | $437M |
| Total debt | — | $4.1B | $4.7B | $3.9B |
| Current assets | — | $1.9B | $3.1B | $3.1B |
| Current liabilities | — | $1.4B | $2.0B | $2.4B |
| Goodwill | $3.0B | $2.9B | $5.6B | $5.7B |
| Intangible assets | — | $988M | $2.6B | $2.0B |
| Total assets | — | $6.4B | $12.0B | $11.5B |
| Total liabilities | — | $6.0B | $7.4B | $6.8B |
| Shareholders' equity | $706M | $375M | $4.5B | $4.5B |
| Margins | ||||
| Gross margin | 10.0% | 9.9% | 9.5% | 10.5% |
| Operating margin | 1.6% | 0.7% | 3.5% | 3.3% |
| EBITDA margin | 1.8% | 1.1% | 3.7% | 3.6% |
| Net margin | −1.1% | −4.0% | −1.0% | 0.5% |
| FCF margin | 1.4% | 0.7% | 0.4% | 3.6% |
| Returns | ||||
| Return on capital | — | 1.1% | 2.6% | 3.9% |
| Return on capital employed | — | 1.1% | 2.9% | 5.3% |
| Return on equity | −11.9% | −58.1% | −3.4% | 1.5% |
| Return on assets | — | −4.9% | −0.9% | 0.6% |
| Growth | ||||
| Revenue growth | — | 2.5% | 6.6% | 71.6% |
| FCF growth | — | −49.1% | −34.5% | 1,333.3% |
| Share count change | — | 0.0% | 1.1% | 168.1% |
| Financial health | ||||
| Net debt / EBITDA | — | 45.3x | 13.5x | 6.7x |
| Debt / equity | — | 11.0x | 1.0x | 0.9x |
| Current ratio | — | 1.4x | 1.6x | 1.3x |
| Quick ratio | — | 1.4x | 1.6x | 1.3x |
| Capital allocation | ||||
| Capex / revenue | 0.2% | 0.2% | 0.1% | 0.2% |
| Stock comp / revenue | 0.0% | 0.0% | 0.2% | 0.1% |
| Quality scores | ||||
| Piotroski F-score | — | — | 5.0 | 7.0 |
| Altman Z'' | — | 0.5 | 1.3 | 1.3 |
| Accruals ratio | — | −5.9% | −1.4% | −4.1% |
Source: SEC EDGAR XBRL filings (CIK 0002011286). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.