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Stocks / United States / LDOS · Services-Computer Integrated Systems Design · NYSE

Leidos Holdings, Inc. (LDOS)

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Leidos Holdings, Inc. (LDOS) reported revenue of $4.6 billion for Q2 FY2026, the quarter ended 3 July 2026, up 7.2% on the same quarter a year earlier. Net income was $354 million, down 9.5% on the year, and diluted earnings per share $2.81. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$4.6 billionup 7.2%
Net income$354 milliondown 9.5%
Diluted EPS$2.81
QuarterQ2 FY2026ended 3 July 2026

Ratios

From the filings

ROE26.0%
ROCE18.0%
Operating margin11.5%
Net margin7.8%
FCF marginn/a
Interest covern/a
Debt to equity1.14
Cash conversionn/a
Share count, 1 year-2.2%
Sales CAGR, 3 years6.1%
Profit CAGR, 3 years28.3%
EPS, TTM$10.73

At the close of 21 September 2026

Price$128.23
Market cap$16.1 billion
Stock P/E11.95
Price to book3.05
EV / EBITDA9.16
Dividend yield1.3%
Market cap / sales0.91
52-week high$199.55
52-week low$100.00
Price, 1 year-31.6%
Price CAGR, 3 years12.1%
Price CAGR, 5 years6.8%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure Leidos Holdings, Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LDOS

Filings20 in twelve months: 10 current reports (8-K), about 4 results of operations; 4 material agreement; 4 regulation fd disclosure; 2 new financial obligation; 1 officer or director change
Planned insider sales6 Form 144 notices in twelve months, $3.2 million; latest 1 September 2026
Options tapeput/call 0.36 by open interest on 23 September 2026; the straddle prices a 7.0% move to 16 October 2026
Holders8 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading6 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest3.6 million shares short, 3.38 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,9213,9803,9754,1324,1904,3654,2454,2534,4694,2074,4004,558
Cost of revenue3,3343,3853,3373,4273,4283,6723,4883,4713,6483,4683,6393,741
Gross profit587595638705762693757782821739761817
Gross margin15%15%16%17%18%16%18%18%18%18%17%18%
SG&A239233226231247279230217286266223283
Operating income-336361415475516421530571535473508514
Operating margin-9%9%10%11%12%10%12%13%12%11%12%11%
Pre-tax income-388310368426470375478518484429429451
Tax raten/a26%23%24%23%25%24%24%24%22%22%21%
Net income-399229284322364284363391367327328354
Net margin-10%6%7%8%9%7%9%9%8%8%7%8%
Diluted EPS-$2.91$1.68$2.07$2.37$2.68$2.10$2.77$3.01$2.82$2.54$2.56$2.81
Operating cash flow79530463.037465629958.0486711n/a301793
Capital expenditure50.078.017.023.023.086.022.029.031.043.031.032.0
Free cash flow74522646.035163321336.0457680n/a270761
Buybacks0.02001501002004000.00.010030020066.0
Shares outstanding138m136m135m135m133m131m129m128m128m126m126m125m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* 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. 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.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025TTM
Revenue7,04310,17010,19411,09412,29713,73714,39615,43816,66217,17417,634
Cost of revenue6,1038,7388,6909,54610,56011,72312,31213,19413,86414,07514,496
Gross profit8521,2471,5041,5481,7372,0142,0842,2442,7983,0993,138
Gross margin12.1%12.3%14.8%14.0%14.1%14.7%14.5%14.5%16.8%18.0%17.8%
Research and development44.042.046.049.073.0109116128150187n/a
Selling, general and administrative4227377296897708519509429839991,058
Operating income4175597499129981,1521,0886211,8272,1092,030
Operating margin5.9%5.5%7.3%8.2%8.1%8.4%7.6%4.0%11.0%12.3%11.5%
Interest expense96.0148145147182185n/an/an/an/an/a
Pre-tax income3183936108667819678864031,6391,9091,793
Income tax72.029.028.0196152208193195388447398
Effective tax rate22.6%7.4%4.6%22.6%19.5%21.5%21.8%48.4%23.7%23.4%22.2%
Net income2443665816676287536851991,2541,4481,376
Net margin3.5%3.6%5.7%6.0%5.1%5.5%4.8%1.3%7.5%8.4%7.8%
Diluted EPS$2.35$2.38$3.80$4.60$4.36$5.27$4.96$1.44$9.22$11.14$10.73
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four 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. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025TTM
Operating cash flown/a5267689921,3341,0319921,1871,4351,750n/a
Capital expenditure29.081.073.0121183104129207149125137
Free cash flown/a4456958711,1519278639801,2861,625n/a
Free cash flow marginn/a4.4%6.8%7.9%9.4%6.7%6.0%6.3%7.7%9.5%n/a
Depreciation and amortisation122336257234282325333331290290302
Share-based compensation35.043.044.052.062.067.073.077.085.095.0100
Buybacks0.00.016725.067.02370.0225850400666
Dividends paid9930.00.0n/an/an/an/an/an/an/an/a
Dividend per share$1.28$1.28$1.28$1.32$1.36$1.40$1.44$1.46$1.54$1.63n/a
Diluted shares, weighted104m154m153m145m144m143m138m138m136m130m126m
Shares outstanding at period end150m151m146m141m142m140m137m136m131m126m125m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025TTM
Total assets9,1328,9908,7709,36712,51113,26113,07112,69513,01013,49315,632
Cash and equivalents3763903276685247275166418491,108748
Receivables1,6571,8311,8771,7342,1372,1892,3502,4292,6452,7082,968
Inventory67.076.0n/a72.027627428731031534294.0
Goodwill4,6224,9744,8604,9126,3136,7446,6966,1126,0846,3427,663
Total debt, as filedn/an/an/an/an/a5,0764,9204,6824,6704,648n/a
Long-term debt including finance leases3,2253,0563,0522,9254,6444,5933,9284,6644,0524,6286,009
Borrowings, as the company tags them3,3393,1293,0733,0044,7825,065n/an/an/an/an/a
Operating lease liabilitiesn/an/a0.0326564589570516621587547
Finance lease liabilitiesn/an/an/a2.05.043.038.073.054.034.0n/a
Shareholders' equity3,1353,3703,3083,4133,8624,2914,2994,2014,4124,9165,284
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a6.9%6.1%3.4%
Profit growth, compoundedn/a18.2%28.3%-1.9%
Return on equity, average16.8%19.2%20.9%29.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Services-Computer Integrated Systems Design

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Leidos Holdings, Inc. LDOS$16.1 billion11.9526.0%11.5%3.4%1.141.3%
GoDaddy Inc. GDDY$13.3 billion15.5713,586.6%24.8%7.4%561.10n/a
Jack Henry & Associates Inc. JKHY$10.6 billion21.7124.5%25.0%7.1%0.021.6%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q3 July 20264 August 2026EDGAR
10-Q3 April 20265 May 2026EDGAR
10-K2 January 202617 February 2026EDGAR
10-Q3 October 20254 November 2025EDGAR
10-Q4 July 20255 August 2025EDGAR
10-Q4 April 20256 May 2025EDGAR
10-K3 January 202511 February 2025EDGAR
10-Q27 September 202429 October 2024EDGAR
10-Q28 June 202430 July 2024EDGAR
10-Q29 March 202430 April 2024EDGAR

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