Leidos Holdings, Inc.

Listed Company

LDOSCIK 0001336920NYSELarge AcceleratedServices-Computer Integrated Systems DesignFY ends Jan 1

Period

FY 2025

Revenue

$17.17B

Net Income

$1.45B

Total Assets

$13.49B

Equity

$4.92B

Shares Out

126.39M

Op. Cash Flow

$1.75B

Business

Leidos Holdings, Inc. is a holding company whose principal operating subsidiary provides scientific, engineering and technical services and solutions that deliver digital and mission innovations for government and commercial customers. It offers mission software, cyber operations, digital modernization, integrated systems, rapid prototyping and manufacturing, transportation and health solutions, security detection products, airborne, land, maritime and space systems, and managed health and life sciences services. The company operates four reportable segments: National Security & Digital, Health & Civil, Commercial & International and Defense Systems, with corporate functions presented separately. It serves primarily U.S. federal and defense agencies and also sells products and services to international governments and commercial customers through direct contracts, subcontracting and global deployments.

Summary from filing dated 2025-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	17,174	16,662	15,438	14,396	13,737
Cost of revenues	14,075	13,864	13,194	12,312	11,723
Selling, general and administrative expenses	999	983	942	951	851
Acquisition, integration and restructuring costs	18	16	24	17	27
Goodwill impairment charges	0	0	596	0	0
Asset impairment charges	5	11	91	40	4
Equity earnings of non-consolidated subsidiaries	−32	−39	−30	−12	−20
Operating income	2,109	1,827	621	1,088	1,152
Interest expense, net	−203	−193	−212	−199	—
Other income (expense), net	3	5	−6	−3	−1
Income before income taxes	1,909	1,639	403	886	967
Income tax expense	−447	−388	−195	−193	−208
Net income	1,462	1,251	208	693	759
Less: net income (loss) attributable to non-controlling interest	14	−3	9	8	6
Net income attributable to Leidos common stockholders	1,448	1,254	199	685	753
Basic (in dollars per share)	11.31	9.36	1.45	5	5.34
Diluted (in dollars per share)	11.14	9.22	1.44	4.96	5.27

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,108	849	641	516	727
Receivables, net	2,708	2,645	2,429	2,350	2,189
Inventory, net	342	315	310	287	274
Other current assets	656	525	489	490	429
Total current assets	4,814	4,334	4,005	3,643	3,619
Property, plant and equipment, net	961	991	961	847	670
Intangible assets, net	458	517	667	952	1,177
Goodwill	6,342	6,084	6,112	6,696	6,744
Operating lease right-of-use assets, net	526	560	512	545	612
Deferred tax assets	48	203	—	—	—
Other long-term assets	344	321	438	388	439
Total assets	13,493	13,010	12,695	13,071	13,261
Accounts payable and accrued liabilities	1,988	2,131	2,277	2,254	2,141
Accrued payroll and employee benefits	819	811	695	701	605
Current portion of long-term debt	20	618	18	992	483
Total current liabilities	2,827	3,560	2,990	3,947	3,229
Long-term debt, net of current portion	4,628	4,052	4,664	3,928	4,593
Operating lease liabilities	587	621	516	570	589
Deferred tax liabilities	221	2	3	40	239
Other long-term liabilities	268	315	267	233	267
Total liabilities	8,531	8,550	8,437	8,718	8,917
Commitments and contingencies (Note 21)	—	—	—	—	—
Preferred stock, $0.0001 par value, 10,000,000 shares authorized and no shares issued and outstanding at January 2, 2026 and January 3, 2025	0	0	0	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 126,380,657 and 131,163,899 shares issued and outstanding at January 2, 2026, and January 3, 2025, respectively	0	0	0	0	0
Additional paid-in capital	319	1,112	1,885	2,005	2,423
Retained earnings	4,647	3,410	2,364	2,367	1,880
Accumulated other comprehensive loss	−50	−110	−48	−73	−12
Total Leidos stockholders equity	4,916	4,412	4,201	4,299	4,291
Non-controlling interest	46	48	57	54	53
Total stockholders equity	4,962	4,460	4,258	4,353	4,344
Total liabilities and stockholders equity	13,493	13,010	12,695	13,071	13,261

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	290	290	331	333	325
Stock-based compensation	95	85	77	73	67
Deferred income taxes	369	−98	−109	—	—
Other	9	44	28	26	−7
Receivables	−46	−220	−65	−174	−5
Other current assets and other long-term assets	19	96	140	160	143
Accounts payable and accrued liabilities and other long-term liabilities	−308	−117	53	−143	−210
Accrued payroll and employee benefits	1	121	−5	98	−32
Income taxes receivable/payable	−146	−28	−158	97	15
Net cash provided by operating activities	1,750	1,435	1,187	992	1,033
Acquisitions of businesses, net of cash acquired	−293	0	−6	−192	−622
Payments for property, equipment and software	−125	−149	−207	−129	−104
Proceeds from disposition of businesses	9	0	2	15	0
Other	4	7	0	−13	−4
Net cash used in investing activities	−405	−142	−211	−313	−730
Proceeds from debt issuance	997	0	1,743	380	380
Repayments of borrowings	−1,019	−18	−2,045	−545	−106
Payments for debt issuance and modification costs	−7	0	−7	0	0
Dividend payments	−211	−208	−201	−199	−199
Repurchases of stock and other	−944	−906	−246	−542	−270
Proceeds from issuances of stock	62	55	50	48	44
Net capital distributions to non-controlling interests	−16	−6	−9	−7	38
Other	−7	−1	0	0	0
Net cash used in financing activities	−1,145	−1,084	−715	−865	−113
Effect of foreign exchange rate changes on cash and cash equivalents	13	−10	6	−6	−2
Net increase in cash, cash equivalents and restricted cash	213	199	267	−192	188
Cash paid for interest	220	226	207	195	182
Cash paid for income taxes, net of refunds	276	460	435	217	221
Property, plant and equipment additions	5	72	2	7	4
Finance lease obligations	0	0	65	1	51

Filings

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