Huntington Ingalls Industries (HII) Q4 FY2025 earnings: revenue $3.5 billion, up 15.7% on the year

Huntington Ingalls Industries, Inc. (HII) reported revenue of $3.5 billion for Q4 FY2025, the quarter ended 31 December 2025, up 15.7% on the same quarter a year earlier. Net income was $159 million, up 29.3% on the year, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2026.

Revenue

$3.5 billion

+15.7% on the year · +8.9% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

4.9%

3.7% a year earlier

Q1 FY2024Q4 FY2025

Net income

$159 million

+29.3% on the year · +9.7% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$4.04

+28.3% on the year · +9.8% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 16 new.

Full-year revenue and EPS grew: Full-year revenues were $12.5 billion, up 8.2%. Full-year diluted EPS was $15.39, up 10.2% from $13.96. Full-year operating income was $657 million, a 5.3% margin.
Quarterly segment margin reached 5.6%: Segment operating income was $195 million, a 5.6% margin, against $103 million and 3.4%. Management said the increase came from improved operating results across all business segments.
Frigate FF(X) design and build selection: Ingalls was selected by the U.S. Navy to design and build the future frigate FF(X), listed among its 2025 milestones.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	3,476	3,192	3,004	+8.9%	+15.7%
Cost of revenue	3,074	2,798	2,683	+9.9%	+14.6%
Gross profit	402	394	321	+2.0%	+25.2%
Gross margin	11.6%	12.3%	10.7%
Operating income	172	161	110	+6.8%	+56.4%
Operating margin	4.9%	5.0%	3.7%
Interest expense	26.0	23.0	27.0	+13.0%	-3.7%
Pre-tax income	198	204	131	-2.9%	+51.1%
Income tax	39.0	59.0	8.0	-33.9%	+387.5%
Effective tax rate	19.7%	28.9%	6.1%
Net income	159	145	123	+9.7%	+29.3%
Net margin	4.6%	4.5%	4.1%
Diluted EPS	$4.04	$3.68	$3.15	+9.8%	+28.3%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	650	118	391	+450.8%	+66.2%
Capital expenditure	134	102	114	+31.4%	+17.5%
Free cash flow	516	16.0	277	+3,125.0%	+86.3%
Free cash flow margin	14.8%	0.5%	9.2%
Cash from investing	-134	-96.0	-110
Cash from financing	-54.0	-53.0	540
Depreciation and amortisation	87.0	80.0	84.0	+8.8%	+3.6%
Share-based compensation	11.0	10.0	8.0	+10.0%	+37.5%
Buybacks	n/a	n/a	0.0
Dividends paid	54.0	53.0	52.0	+1.9%	+3.8%
Dividend per share	$1.38	$1.35	$1.35	+2.2%	+2.2%
Diluted shares, weighted	39m	39m	39m	0.0%	+0.8%
Shares outstanding at period end	39m	39m	39m	+0.0%	+0.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	5,073	4,984	4,666	+1.8%	+8.7%
Debt	2,700	2,698	3,203	+0.1%	-15.7%
Operating lease liabilities	223	228	205	-2.2%	+8.8%
Other liabilities	4,753	4,399	4,067	+8.0%	+16.9%
Total liabilities and equity	12,749	12,309	12,141	+3.6%	+5.0%
Fixed assets	3,726	3,635	3,450	+2.5%	+8.0%
Goodwill	2,650	2,650	2,618	0.0%	+1.2%
Intangible assets	694	720	782	-3.6%	-11.3%
Cash and equivalents	774	312	831	+148.1%	-6.9%
Receivables	339	374	212	-9.4%	+59.9%
Other assets	4,566	4,618	4,248	-1.1%	+7.5%
Total assets	12,749	12,309	12,141	+3.6%	+5.0%

Questions

What was Huntington Ingalls Industries' revenue in Q4 FY2025?

Huntington Ingalls Industries (HII) reported revenue of $3.5 billion for Q4 FY2025, the quarter ended 31 December 2025, up 15.7% on the same quarter a year earlier.

How much did Huntington Ingalls Industries earn in Q4 FY2025?

Net income for Q4 FY2025 was $159 million, up 29.3% on the year, and diluted earnings per share $4.04.

When did Huntington Ingalls Industries report Q4 FY2025 results?

Huntington Ingalls Industries filed its 10-K for the year that ended with the quarter on 5 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,677	2,576	2,662	2,626	2,812	2,674	2,787	2,816	3,177	2,805	2,977	2,749	3,004	2,734	3,082	3,192	3,476	3,099	3,418	3,537
Cost of revenue	2,304	2,227	2,272	2,264	2,473	2,324	2,398	2,400	2,686	2,430	2,545	2,427	2,683	2,340	2,687	2,798	3,074	2,691	2,987	3,057
Gross profit	373	349	390	362	339	350	389	416	491	375	432	322	321	394	395	394	402	408	431	480
Gross margin	14%	14%	15%	14%	12%	13%	14%	15%	15%	13%	15%	12%	11%	14%	13%	12%	12%	13%	13%	14%
Operating income	120	138	191	131	105	141	156	172	312	154	189	82.0	110	161	163	161	172	155	210	246
Operating margin	4%	5%	7%	5%	4%	5%	6%	6%	10%	5%	6%	3%	4%	6%	5%	5%	5%	5%	6%	7%
Interest expense	26.0	26.0	26.0	27.0	23.0	24.0	24.0	22.0	25.0	21.0	24.0	23.0	27.0	28.0	28.0	23.0	26.0	22.0	27.0	26.0
Pre-tax income	147	176	222	162	159	163	169	189	332	184	216	112	131	187	188	204	198	188	254	275
Tax rate	18%	20%	20%	15%	23%	21%	23%	22%	17%	17%	20%	10%	6%	20%	19%	29%	20%	21%	18%	21%
Net income	120	140	178	138	123	129	130	148	274	153	173	101	123	149	152	145	159	149	208	217
Net margin	4%	5%	7%	5%	4%	5%	5%	5%	9%	5%	6%	4%	4%	5%	5%	5%	5%	5%	6%	6%
Diluted EPS	$2.97	$3.50	$4.44	$3.44	$3.07	$3.23	$3.27	$3.70	$6.90	$3.87	$4.38	$2.56	$3.15	$3.79	$3.86	$3.68	$4.04	$3.79	$5.27	$5.48
Operating cash flow	271	-83.0	267	-19.0	601	-9.0	82.0	335	562	-202	-9.0	213	391	-395	823	118	650	-390	-31.0	520
Capital expenditure	115	43.0	59.0	77.0	105	43.0	68.0	53.0	128	75.0	90.0	77.0	114	67.0	93.0	102	134	74.0	119	95.0
Free cash flow	156	-126	208	-96.0	496	-52.0	14.0	282	434	-277	-99.0	136	277	-462	730	16.0	516	-464	-150	425
Buybacks	14.0	10.0	17.0	14.0	11.0	9.0	7.0	21.0	38.0	62.0	65.0	35.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	48.0	47.0	47.0	48.0	50.0	49.0	50.0	50.0	51.0	51.0	51.0	52.0	52.0	53.0	53.0	53.0	54.0	54.0	55.0	54.0
Shares outstanding	40m	40m	40m	40m	40m	40m	40m	40m	40m	40m	39m	39m	39m	39m	39m	39m	39m	39m	39m	39m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 5 February 2026: the filing.