Leidos Holdings, Inc.LDOS
NYSE•Technology•Information Technology Services
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.
Leidos Holdings, Inc. (LDOS) reported trailing twelve months revenue of $17.33B as of April 2026, a 2.3% increase year-over-year. Quarterly revenue reached $4.40B, reflecting continued top-line momentum.
Leidos Holdings, Inc. generated $1.41B in TTM net income, with quarterly EBITDA of $580.00M. The operating margin contracted from 12.5% to 11.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (11.5%) and net margin (7.5%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 8.6% a year ago, reflecting increased costs or interest expense.
LDOS trades at a P/E of 14.2x (below the broader market average) and a P/S of 1.2x. The price-to-book ratio of 4.0x reflects a moderate premium to book value.
The company generated $270.00M in free cash flow over the trailing twelve months, a 650.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $15.39B in total assets with $6.01B in long-term debt against $5.01B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~11.8%, suggesting durable pricing power and cost discipline.
ROE averages 26.5% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~8.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~12.0% — no sign of cost or pricing stress.
FCF covers net income by 1.1x on average — earnings are well-supported by cash generation.
D/E ratio is 1.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 6.7% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation