LDOS Technology

Leidos Holdings, Inc.

$134.72-6.55%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Technology
Industry: Information Technology Services
Country: United States
Market cap: 16.9B USD
Enterprise value: 21.0B USD
Full-time employees: 50,000

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: more debt relative to equity (1.14× vs a peer median of 0.25×)higher risk: more debt vs equity (1.14× vs peers 0.25×)

Ranks #587 of 1,612 technology companies (top 37%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 12% in 2025, the best of the last 6 years.
Leidos kept 12% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profits growing faster than sales. Since 2022: revenue +19%, operating profit +94%.
Since 2022, Leidos's revenue grew 19% while operating profit grew 94%: each extra dollar of sales is adding more profit.
Share count shrinking. Shares outstanding down 8.4% from December 2022 to July 2026.
Leidos had 8.4% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $12.3B in 2020 to $17.2B in 2025.
Leidos's fiscal-year revenue rose in each of the five years to 2025, from $12.3B to $17.2B.

StockQuotient Score

57/ 100

Oct 5 58 → Nov 4 57 (-1)

Valuation

Is the price right?

91/100

Strong▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 92 → 91

Share price -3.5%+1
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield
▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield8.1%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score 2.62Sector median: 0.0225 · MAD: 0.0225

EBITDA yield10.5%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score 1.74Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield12.8%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 3.66Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield31.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

40/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth0.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.35Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth5.9%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.14Sector median: 0.0483 · MAD: 0.0793

Revenue growth3.4%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.50Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

74/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin11.5%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.73Sector median: 0.0631 · MAD: 0.0710

Return on assets8.8%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.62Sector median: 0.0293 · MAD: 0.0362

Return on invested capital15.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.98Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin17.8%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity26.0%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.59

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.76Sector median: 0.8710 · MAD: 0.3700

Current ratio1.63×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.29Sector median: 1.8295 · MAD: 0.6848

Debt / equity1.14×

SEC filings · latest balance sheetReported value33% base weight · Z-score -3.93Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Leidos

Is Leidos getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 57/100 since Oct 28, 2026.
How is Leidos valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 91/100 against 1,711 technology peers. Free cash flow yield 12.8% vs a peer median of 2.7% (stronger than 93% of peers).Free cash flow yield 12.8% vs peers 2.7% (stronger than 93% of peers).
Is Leidos growing?: At about the same pace as its peers. Growth scores 40/100 against 1,711 technology peers. Revenue growth 3.4% vs a peer median of 8.5% (weaker than 65% of peers).Revenue growth 3.4% vs peers 8.5% (weaker than 65% of peers).
How profitable is Leidos?: More profitable than most of its peers. Profitability scores 74/100 against 1,711 technology peers. Return on assets 8.8% vs a peer median of 2.9% (stronger than 83% of peers).Return on assets 8.8% vs peers 2.9% (stronger than 83% of peers).
How risky is Leidos?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.59 vs a peer median of 0.87 (stronger than 72% of peers).Beta 0.59 vs peers 0.87 (stronger than 72% of peers). Debt / equity 1.14× vs a peer median of 0.25× (weaker than 85% of peers).Debt / equity 1.14× vs peers 0.25× (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 3, 2026 · filed Aug 4, 2026 · compared with the quarter ended Apr 3, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	17.3B USD	17.6B USD	+1.8%
Net income (12 months)	1.4B USD	1.4B USD	−2.6%
Operating margin	12.0%	11.5%	−0.5 pts
Free cash flow (12 months)	1.9B USD	2.2B USD	+16.4%
Debt	6.3B USD	6.0B USD	−4.8%
Cash	457.0M USD	748.0M USD	+63.7%
Shares outstanding	125.8M	125.5M	−0.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Information Technology Services · 33 companies

Valuations in Information Technology Services are near the bottom of their range since 2016.

5% of months since 2016 were valued lower than now.
14% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −21% and earnings +27% (medians): earnings grew faster than prices.
Median price-to-sales is −47% vs the whole market, against a usual −18%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	14.7%	14.5%	14.5%	16.8%	18.0%	▲ 1.3 pts
Operating margin	8.4%	7.6%	4.0%	11.0%	12.3%	▲ 1.3 pts
Net margin	5.5%	4.8%	1.3%	7.5%	8.4%	▲ 0.9 pts
Return on assets (ROA)	5.7%	5.2%	1.6%	9.6%	10.7%	▲ 1.1 pts
Return on equity (ROE)	17.5%	15.9%	4.7%	28.4%	29.5%	▲ 1.0 pts
Free cash flow margin	6.8%	6.0%	6.3%	7.7%	9.5%	▲ 1.7 pts
Current ratio	1.12×	0.92×	1.34×	1.22×	1.70×	▲ 40%
Quick ratio	1.04×	0.85×	1.24×	1.13×	1.58×	▲ 40%
Debt to equity	1.21×	1.30×	1.12×	1.06×	0.95×	▼ 11%
Interest coverage	6.23×	—	—	—	—	—

LDOS price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: more debt relative to equity (1.14× vs a peer median of 0.25×)higher risk: more debt vs equity (1.14× vs peers 0.25×)

Ranks #587 of 1,612 technology companies (top 37%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 12% in 2025, the best of the last 6 years.

Leidos kept 12% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profits growing faster than sales. Since 2022: revenue +19%, operating profit +94%.

Since 2022, Leidos's revenue grew 19% while operating profit grew 94%: each extra dollar of sales is adding more profit.

Share count shrinking. Shares outstanding down 8.4% from December 2022 to July 2026.

Leidos had 8.4% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $12.3B in 2020 to $17.2B in 2025.

Leidos's fiscal-year revenue rose in each of the five years to 2025, from $12.3B to $17.2B.

Questions investors ask about Leidos

Is Leidos getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 57/100 since Oct 28, 2026.

How is Leidos valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 91/100 against 1,711 technology peers. Free cash flow yield 12.8% vs a peer median of 2.7% (stronger than 93% of peers).Free cash flow yield 12.8% vs peers 2.7% (stronger than 93% of peers).

Is Leidos growing?

At about the same pace as its peers. Growth scores 40/100 against 1,711 technology peers. Revenue growth 3.4% vs a peer median of 8.5% (weaker than 65% of peers).Revenue growth 3.4% vs peers 8.5% (weaker than 65% of peers).

How profitable is Leidos?

More profitable than most of its peers. Profitability scores 74/100 against 1,711 technology peers. Return on assets 8.8% vs a peer median of 2.9% (stronger than 83% of peers).Return on assets 8.8% vs peers 2.9% (stronger than 83% of peers).

How risky is Leidos?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.59 vs a peer median of 0.87 (stronger than 72% of peers).Beta 0.59 vs peers 0.87 (stronger than 72% of peers). Debt / equity 1.14× vs a peer median of 0.25× (weaker than 85% of peers).Debt / equity 1.14× vs peers 0.25× (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

17.3B USD

17.6B USD

+1.8%

Net income (12 months)

1.4B USD

1.4B USD

−2.6%

Operating margin

12.0%

11.5%

−0.5 pts

Free cash flow (12 months)

1.9B USD

2.2B USD

+16.4%

Debt

6.3B USD

6.0B USD

−4.8%

Cash

457.0M USD

748.0M USD

+63.7%

Shares outstanding

125.8M

125.5M

−0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

14.7%

14.5%

16.8%

18.0%

▲ 1.3 pts

Operating margin

8.4%

7.6%

4.0%

11.0%

12.3%

▲ 1.3 pts

Net margin

5.5%

4.8%

1.3%

7.5%

8.4%

▲ 0.9 pts

Return on assets (ROA)

5.7%

5.2%

1.6%

9.6%

10.7%

▲ 1.1 pts

Return on equity (ROE)

17.5%

15.9%

4.7%

28.4%

29.5%

▲ 1.0 pts

Free cash flow margin

6.8%

6.0%

6.3%

7.7%

9.5%

▲ 1.7 pts

Current ratio

1.12×

0.92×

1.34×

1.22×

1.70×

▲ 40%

Quick ratio

1.04×

0.85×

1.24×

1.13×

1.58×

▲ 40%

Debt to equity

1.21×

1.30×

1.12×

1.06×

0.95×

▼ 11%

Interest coverage

6.23×

—