Leidos
LDOS NYSE· Diversified Support Services
Last close · Oct 26, 2026
$139.86
KIRA · Stoqly’s AI analyst, in plain words
- Leidos had $17.2B of revenue in fiscal 2025, up 3.1% on the year before. Over five years, revenue changed +6.9% a year on average.
- Its operating margin was 12.3%, up 1.3 pts: of every 100 in sales, about 12 is left after running the business.
- Leidos made $1.4B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 18.9% a year.
- Free cash flow was $1.6B in fiscal 2025, 9.5% of revenue.
- Leidos returned $611M to shareholders in fiscal 2025, 38% of free cash flow. The diluted share count fell 4.4%.
- Leidos owes $3.5B more than it holds in cash, about 1.5 years of operating profit.
Market cap
$17.6B
P/E
13.1x
Revenue
$17.2B
Net income
$1.4B
Free cash flow
$1.6B
Operating margin
12.3%
Leidos in 30 seconds · fiscal 2025
Are sales growing?
+3.1%
Only a little. Sales grew 3.1% last year.
Does it make a profit?
8.4%
A little. It keeps 8.4% of every sale as profit.
Does profit turn into cash?
9.5%
Partly. 9.5% of sales ends up as free cash.
Is debt under control?
1.5x
Keep an eye on it. Repaying its debt would take 1.5 years of operating profit.
How healthy are the accounts?
9 / 9
Solid. It passes 9 of 9 health tests.
How is the share priced?
13.1x
One share costs 13.1 times its yearly profit per share. Typical for its sector: 26.0x.
What Leidos does
Leidos provides science, engineering and technology services and solutions, mostly to the U.S. government. Its customers include the Department of War, the intelligence community, the Department of Homeland Security, the Federal Aviation Administration and the Department of Veterans Affairs, plus state and foreign governments and some commercial businesses. It is based in Reston, Virginia, and has about 47,000 employees. It reports four segments. In fiscal 2025, National Security & Digital was 44% of revenue, Health & Civil 30%, Commercial & International 13% and Defense Systems 13%. In that year Leidos got 87% of its revenue from U.S. government contracts, as a prime contractor or as a subcontractor to others. It says it is focused on five areas for growth: space and maritime, energy infrastructure, digital modernization and cyber, mission software, and managed health services. Leidos describes its competition as intense and says winning contracts is a competitive process.
Biggest risks, in its own words
- Depending on government agencies as its main customers, so harm to those relationships would hurt future revenue.
- Cuts or delays in the U.S. government budget and contract awards.
- The government can end, change or cut back contracts at any time, and rivals can protest awards.
- Intense competition for contracts.
- Fiscal year ends
- January 2, 2026
- Latest annual report
- 10-K · Feb 17, 2026
- Legal name
- Leidos Holdings, Inc.
- CIK
- 0001336920
Leidos · LDOS
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $13.7B | $14.4B | $15.4B | $16.7B | $17.2B |
| Revenue growth | 11.7% | 4.8% | 7.2% | 7.9% | 3.1% |
| Gross margin | 14.7% | 14.5% | 14.5% | 16.8% | 18.0% |
| Operating margin | 8.4% | 7.6% | 4.0% | 11.0% | 12.3% |
| Net income | $753M | $685M | $199M | $1.3B | $1.4B |
| Net margin | 5.5% | 4.8% | 1.3% | 7.5% | 8.4% |
| Diluted EPS | $5.27 | $4.96 | $1.44 | $9.22 | $11.14 |
| Cash | |||||
| Cash from operations | $1.0B | $992M | $1.2B | $1.4B | $1.8B |
| Capital expenditure | $104M | $129M | $207M | $149M | $125M |
| Free cash flow | $929M | $863M | $980M | $1.3B | $1.6B |
| FCF margin | 6.8% | 6.0% | 6.4% | 7.7% | 9.5% |
| Dividends paid | $199M | $199M | $201M | $208M | $211M |
| Share buybacks | $237M | $0.0M | $225M | $850M | $400M |
| Share count change | −0.7% | −3.5% | 0.0% | −1.5% | −4.4% |
| Debt and strength | |||||
| Cash and short-term investments | $727M | $516M | $641M | $849M | $1.1B |
| Debt incl. finance leases | $5.2B | $5.6B | $4.7B | $4.7B | $4.6B |
| Shareholders' equity | $4.3B | $4.3B | $4.2B | $4.4B | $4.9B |
| Net debt / EBITDA | 3.0x | 3.6x | 4.3x | 1.8x | 1.5x |
| Current ratio | 1.1x | 0.9x | 1.3x | 1.2x | 1.7x |
| Interest coverage | 6.2x | 5.6x | 3.0x | 8.1x | 9.6x |
| Returns and quality | |||||
| Return on capital | 10.7% | 9.3% | 3.6% | 16.8% | 19.3% |
| Return on equity | 18.5% | 16.0% | 4.7% | 29.1% | 31.1% |
| Piotroski F-score | 6 | 4 | 8 | 8 | 9 |
| Altman Z'' | 1.8 | 1.5 | 2.0 | 2.7 | 3.8 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$3.2M
3 insiders
Of sales under plans
45%
$1.4M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Leidos · LDOS
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Leidos LDOS | $17.6B | 3.1% | 12.3% | 9.5% | 19.3% | 13.1x | 9 |
| Cintas CTAS | $91.3B | 8.9% | 23.1% | 16.7% | 31.7% | 44.6x | 8 |
| CACI International CACI | $14.8B | 10.9% | 9.6% | 8.2% | 8.8% | 27.3x | 5 |
| KBR KBR | $5.1B | 1.0% | 10.0% | 6.6% | 15.8% | 12.0x | 7 |
| Science Applications Intl SAIC | $6.4B | −2.9% | 7.2% | 8.0% | 12.8% | 17.3x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $139.86 a share, the company is worth $17.6B: 13.1 times its earnings of the last four quarters.
Leidos grew sales faster than 2 of its 4 similar companies. Its P/E is higher than 1 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001336920). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.