Leidos Holdings, Inc., together with its subsidiaries, provides services and solutions for government and commercial customers in the United States and internationally. The National Security & Digital segment provides national security software; services by using artificial intelligence and machine learning to coordinate sea, ground, air, and space to help warfighters; offensive, defensive, and physical cyber operation solutions; intelligence analysis, operational support, logistics operations, security, linguistics, force production, biometrics, chemical, biological, radiological, nuclear, and explosives, energetics, training, and other services; and Digital Modernization and transformation services. The Health & Civil segment offers air traffic control systems; health mission software; managed health services; infrastructure management and operation; logistical operations and information technology support; and life science research and development support services. The Commercial & International segment provides power grid engineering and design, grid modernization, utility planning and consulting, energy management and efficiency, technology-driven innovation, and software and application development; people scanners, computed tomography carry-on baggage scanners, checked baggage scanners, and explosive trace detectors; mobile, non-intrusive ports and borders inspection systems; and open-architecture platform that transforms airport security by integrating disparate devices and technologies into a unified management system. The Defense Systems segment offers air and missile defense, maritime, aerospace, and cyber and threat systems; offers airborne training, intelligence, surveillance, and reconnaissance missions; and provides space-based electro-optic infrared systems, multi/hyperspectral, electronic warfare and signals intelligence, and communications payloads. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $17.2B | $2.4B | $1.4B | $1.6B | 29.5% | 3.1% | 15.5% |
| 2024 | $16.7B | $2.1B | $1.3B | $1.3B | 28.4% | 7.9% | 530.2% |
| 2023 | $15.4B | $946M | $199M | $980M | 4.7% | 7.2% | -70.9% |
| 2022 | $14.4B | $1.4B | $685M | $863M | 15.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 14,396 | 15,438 | 16,662 | 17,174 |
| Operating Revenue | - | 14,396 | 15,438 | 16,662 | 17,174 |
| Cost Of Revenue | - | 12,312 | 13,194 | 13,864 | 14,075 |
| Gross Profit | - | 2,084 | 2,244 | 2,798 | 3,099 |
| Operating Expense | - | 951 | 942 | 983 | 999 |
| Selling General And Administration | - | 951 | 942 | 983 | 999 |
| Total Expenses | - | 13,263 | 14,136 | 14,847 | 15,074 |
| Operating Income | - | 1,133 | 1,302 | 1,815 | 2,100 |
| Total Operating Income As Reported | - | 1,088 | 621 | 1,827 | 2,109 |
| EBITDA | - | 1,418 | 946 | 2,122 | 2,402 |
| Normalized EBITDA | - | 1,475 | 1,657 | 2,149 | 2,425 |
| EBIT | - | 1,085 | 615 | 1,832 | 2,112 |
| Interest Income | 1 | - | - | - | - |
| Interest Expense | - | 199 | 212 | 193 | 203 |
| Net Interest Income | - | -199 | -212 | -193 | -203 |
| Other Non Operating Income Expenses | - | -3 | -6 | 5 | 3 |
| Other Income Expense | - | -48 | -687 | 17 | 12 |
| Interest Income Non Operating | 1 | - | - | - | - |
| Interest Expense Non Operating | - | 199 | 212 | 193 | 203 |
| Net Non Operating Interest Income Expense | - | -199 | -212 | -193 | -203 |
| Pretax Income | - | 886 | 403 | 1,639 | 1,909 |
| Tax Provision | - | 193 | 195 | 388 | 447 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -12.43 | -149.31 | -6.40 | -5.38 |
| Net Income Continuous Operations | - | 693 | 208 | 1,251 | 1,462 |
| Net Income From Continuing And Discontinued Operation | - | 685 | 199 | 1,254 | 1,448 |
| Net Income From Continuing Operation Net Minority Interest | - | 685 | 199 | 1,254 | 1,448 |
| Net Income | - | 685 | 199 | 1,254 | 1,448 |
| Net Income Common Stockholders | - | 685 | 199 | 1,254 | 1,448 |
| Net Income Including Noncontrolling Interests | - | 693 | 208 | 1,251 | 1,462 |
| Normalized Income | - | 729.57 | 760.69 | 1,274.60 | 1,465.62 |
| Diluted NI Availto Com Stockholders | - | 685 | 199 | 1,254 | 1,448 |
| Basic Average Shares | - | 137 | 137 | 134 | 128 |
| Diluted Average Shares | - | 138 | 138 | 136 | 130 |
| Reconciled Depreciation | - | 333 | 331 | 290 | 290 |
| Reconciled Cost Of Revenue | - | 12,312 | 13,194 | 13,864 | 14,075 |
| Total Unusual Items | - | -57 | -711 | -27 | -23 |
| Total Unusual Items Excluding Goodwill | - | -57 | -711 | -27 | -23 |
| Minority Interests | - | -8 | -9 | 3 | -14 |
| Special Income Charges | - | -57 | -711 | -27 | -23 |
| Gain On Sale Of Business | -3 | 0 | - | - | - |
| Write Off | - | 40 | 91 | 11 | 5 |
| Impairment Of Capital Assets | - | 0 | 596 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 17 | 24 | 16 | 18 |
| Gain On Sale Of Security | -1 | -3 | - | - | - |
| Earnings From Equity Interest | - | 12 | 30 | 39 | 32 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Leidos Holdings, Inc.this co. | LDOS | $15.7B | 10.82β discount | 3.19 | 29.5% | 8.24 |
| Broadridge Financial Solutions, Inc. | BR | $17.8B | 21.23 | 6.71 | 31.6% | 13.62 |
| CDW Corporation | CDW | $17.8B | 16.70 | 6.84 | 40.9% | 11.78 |
| PTC Inc. | PTC | $16.0B | 21.84 | 4.19 | 19.2% | 15.20 |
| Gen Digital Inc. | GEN | $16.0B |
| - |
| - |
| - |
| - |
| - |
| 16.42 |
| 6.12 |
| 37.3% |
| 9.26 |
| Semtech Corporation | SMTC | $15.8B | -390.71 | 28.70 | -7.3% | 407.08 |
| Sanmina Corporation | SANM | $15.0B | 61.06 | 6.38 | 10.4% | 30.04 |
| Trimble Inc. | TRMB | $13.0B | 30.62 | 2.22 | 7.3% | 18.02 |
| Tyler Technologies, Inc. | TYL | $12.7B | 40.17 | 3.42 | 8.5% | 22.50 |
| Peer Median | - | 21.54 | 6.25 | 14.8% | 16.61 | |