LDOSNYSEServices-Computer Integrated Systems DesignFiscal year ends January 1
Leidos Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Aug 4, 2026
$126.05+1.20 (+0.96%)
Close on Oct 19, 2026
- Market cap
- $15.88B
- P/E (TTM)
- 11.8
- Dividend yield
- 1.29%
Margins
Share of revenue, fiscal years 2010 to 2025
Gross margin
18.0%+3.9 pts over 5 years
Operating margin
12.3%+4.2 pts over 5 years
Net margin
8.4%+3.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.1% | +6.1% | +6.9% | +13.0% | |
| Gross profit | +10.8% | +14.1% | +12.3% | +16.5% | |
| Operating income | +15.4% | +24.7% | +16.1% | – | |
| Net income | +15.5% | +28.3% | +18.2% | – | |
| EPS, diluted | +20.8% | +31.0% | +20.6% | – | |
| Free cash flow | +26.4% | +23.5% | +7.1% | +16.0% | |
| Dividend per share | +5.8% | +4.2% | +3.7% | +2.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -24.9% | 17.3% | 31.0% | |
| Return on assets | -8.7% | 5.7% | 10.9% | |
| Current ratio | 1.70 | 1.15 | 1.70 | |
| Debt to equity | 1.17 | 1.23 | 0.95 | |
| Net debt to EBITDA | -4.76× | 3.17× | 1.48× | |
| Interest coverage | -2.9× | 5.5× | – | |
| Inventory turnover | 68.1× | 60.7× | 42.8× | |
| Capex to revenue | 0.6% | 1.5% | 0.7% | |
| Diluted shares | 74M | 144M | 130M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Leidos generated $6.40B from operations and spent $2.43B on capital expenditure, dividends and share buybacks. 29% of that went back into the business.
Generated
$6.40B
Used
$2.43B
Capital expenditure$714.00M29%Dividends$00%Share buybacks$1.71B71%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.4%
×Asset turnover1.30×
×Equity multiplier2.84×
=Return on equity, FY202531.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.4% | 1.30× | 2.84× | 31.0% |
| FY2024 | 7.5% | 1.30× | 2.98× | 29.1% |
| FY2023 | 1.3% | 1.20× | 3.03× | 4.7% |
| FY2022 | 4.8% | 1.09× | 3.07× | 15.9% |
| FY2021 | 5.5% | 1.07× | 3.16× | 18.5% |
| FY2020 | 5.1% | 1.12× | 3.01× | 17.3% |
| FY2019 | 6.0% | 1.22× | 2.70× | 19.8% |
| FY2018 | 5.7% | 1.15× | 2.66× | 17.4% |
| FY2015 | -6.4% | 1.36× | 2.87× | -24.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.45B
- Cash generatingOperating cash flow above zero$1.75B
- Return on assets improvedROA up on the prior year9.9% → 11.1%
- Earnings backed by cashOperating cash flow above net income$1.75B vs $1.45B
- Less leverageLong-term debt to assets fell31.1% → 34.3%
- Better liquidityCurrent ratio rose1.22 → 1.70
- No dilutionShare count did not rise136M → 130M
- Gross margin improvedGross margin up on the prior year16.79% → 18.04%
- More efficientAsset turnover rose1.31 → 1.32