Wednesday 28 October 2026 Export LDOS’s income statement to Excel — free account

Leidos Holdings, Inc.

LDOS Technology Information Technology Services

Leidos Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.2 billion, up 3.07% from fiscal 2024. In the quarter to June 2026, revenue grew 7.17%, EPS fell 7.26%, free cash flow grew 67.4% and total debt rose 18.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.

139.48 0.38 −0.27%

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Market cap: $17.5B
P/E: 12.9×
Fwd P/E: 12.4×
Dividend yield: 1.23%
F-score: 7/9
Altman Z: 4.07
Beneish M: −2.59
Dividend safety: 86/100

Overview Business Profile Earnings & Analysis Segments Filings

Leidos Holdings, Inc. (LDOS) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
National Security & Digital	7,563	44.04%
Health & Civil	5,053	29.42%
Commercial & International	2,312	13.46%
Defense Systems	2,179	12.69%
Gross margin		18.04%
Operating margin		12.28%
Pre-tax margin		11.12%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2014	FY2013	FY2012	FY2011	FY2010
National Security & Digital	7,563 44.21%	7,304 44.06%	7,142 46.56%	6,701 46.90%	—	—	—	—	—	—	—	—	—	—	—
Health & Civil	5,053 29.54%	4,994 30.13%	4,202 27.39%	3,913 27.39%	—	—	—	—	—	—	—	—	—	—	—
Commercial & International	2,312 13.51%	2,248 13.56%	2,116 13.79%	1,866 13.06%	—	—	—	—	—	—	—	—	—	—	—
Defense Systems	2,179 12.74%	2,030 12.25%	1,879 12.25%	1,807 12.65%	—	—	—	—	—	—	—	—	—	—	—
Defense Solution	—	—	—	—	8,029 58.96%	7,339 60.17%	6,299 57.39%	5,778 56.68%	4,989 49.06%	3,843 54.56%	—	—	—	—	—
Civil	—	—	—	—	3,044 22.35%	2,903 23.80%	2,703 24.63%	2,599 25.50%	3,379 33.23%	2,082 29.56%	—	—	—	—	—
Health	—	—	—	—	2,544 18.68%	1,955 16.03%	1,974 17.98%	1,817 17.82%	1,802 17.72%	1,117 15.86%	—	—	—	—	—
National Security Solutions	—	—	—	—	—	—	—	—	—	—	4,049 70.36%	4,650 72.10%	4,618 79.13%	—	—
Health and Infrastructure	—	—	—	—	—	—	—	—	—	—	1,718 29.85%	1,805 27.99%	—	2,630 24.36%	2,848 26.92%
Corporate and Other	—	—	—	—	—	—	—	—	—	—	(9) (0.16%)	(1) (0.02%)	(390) (6.68%)	58 0.54%	4 0.04%
Health Energy and Engineering Group	—	—	—	—	—	—	—	—	—	—	—	—	1,612 27.62%	—	—
Defense Solutions Group	—	—	—	—	—	—	—	—	—	—	—	—	—	4,657 43.13%	4,518 42.70%
Intelligence And Cybersecurity Solutions	—	—	—	—	—	—	—	—	—	—	—	—	—	3,460 32.04%	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	(7) (0.06%)	(6) (0.06%)
Intelligence Surveillance And Reconnaissance Group	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3,216 30.40%
Eliminations	—	—	—	—	—	—	—	—	—	—	(1,068) (18.56%)	—	—	—	—
Revenue	17,107	16,576	15,339	14,287	13,617	12,197	10,976	10,194	10,170	7,043	5,755	6,449	5,836	10,798	10,580

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2014	FY2013	FY2012	FY2011	FY2010
National Security & Digital	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Health & Civil	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Defense Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Commercial & International	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Defense Solution	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Civil	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
National Security Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Health and Infrastructure	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Health Energy and Engineering Group	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Defense Solutions Group	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intelligence And Cybersecurity Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intelligence Surveillance And Reconnaissance Group	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
United States	15,703 91.79%	15,206 91.74%	14,015 91.37%	13,098 91.68%	12,469 91.57%	11,194 91.78%	10,100 92.02%	9,265 90.89%
International	1,404 8.21%	1,370 8.26%	1,324 8.63%	1,189 8.32%	1,148 8.43%	1,003 8.22%	876 7.98%	929 9.11%
Revenue	17,107	16,576	15,339	14,287	13,617	12,197	10,976	10,194

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Backlog	Q1 FY2026	$48.4B	$46.3B	+4.54%
Book-to-bill ratio	Q2 FY2026	1.1×	0.9×	+22.22%
Days Sales Outstanding (DSO)	Q3 FY2025	60.00	59.00	+1.69%
Funded backlog	Q1 FY2026	$9.6B	$7.3B	+31.51%
Net bookings	Q2 FY2026	$4.9B	—	—
Remaining performance obligations	Q2 FY2026	$20.0B	$16.0B	+25.00%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Book-to-bill ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days Sales Outstanding (DSO)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Funded backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.