Leidos
Builds mission software, managed health services, critical infrastructure, and advanced defense systems.
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Profile
Provides mission software, cyber and IT modernization; managed health services; grid and aviation engineering; and advanced defense systems through Intelligence & Digital, Health, Homeland, and Defense. Most revenue comes from U.S. government contracts, making budgets, procurement, contract awards, and cleared technical talent structural dependencies.
Operates through Intelligence & Digital, Health, Homeland, and Defense. The portfolio covers federal IT and cyber modernization, mission software and intelligence support, managed health services, medical examinations, health technology, power-grid engineering, aviation systems, international missions, and advanced defense hardware.
Serves mainly U.S. defense, intelligence, homeland-security, health, aviation, and other civil agencies, with selected commercial and overseas programs. Combines cleared technical talent with program execution across hardware, software, and systems integration. Most revenue comes from U.S. government contracts, tying demand to federal budgets, procurement rules, contract awards, and the availability of security-cleared staff. The security-screening products business is held for sale ahead of a planned joint venture.
Company facts
Categories
Key statistics
Year to date −23.4% · Average volume (30d) 1.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Wells Fargo | Target | $125 | $165 | ||
| Aug 12, 2026 | Goldman Sachs | Reiterate | Neutral | $152 | $132 | |
| Aug 9, 2026 | Jefferies | Reiterate | Hold | $110 | $145 | |
| Aug 5, 2026 | Robert W. Baird | Target | $195 | $150 | ||
| Aug 5, 2026 | RBC Capital | Reiterate | Outperform | $215 | $170 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $2.91 | $3.26 | +12.0% | $4.44B | $4.56B | +2.7% | +10.01% |
| May 5, 2026Q1 FY26 | $2.88 | $3.13 | +8.7% | $4.28B | $4.40B | +2.8% | −1.67% |
| Feb 17, 2026Q4 FY25 | $2.61 | $2.76 | +5.7% | $4.30B | $4.21B | −2.2% | +6.19% |
| Nov 4, 2025Q3 FY25 | $2.71 | $3.05 | +12.5% | $4.28B | $4.47B | +4.5% | −2.25% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.25B | $4.25B | $4.47B | $4.21B | $4.40B | $4.56B | |
| Gross profit | $757.0M | $782.0M | $821.0M | $673.1M | $761.0M | $817.0M | |
| Operating income | $530.0M | $571.0M | $535.0M | $471.2M | $508.0M | $507.0M | |
| Net income | $363.0M | $391.0M | $367.0M | $335.0M | $328.0M | $356.0M | |
| Diluted EPS | $2.77 | $3.01 | $2.82 | $2.53 | $2.56 | $2.81 | |
| Gross margin | 17.8% | 18.4% | 18.4% | 16.0% | 17.3% | 17.9% | |
| Operating margin | 12.5% | 13.4% | 12.0% | 11.2% | 11.5% | 11.1% |
Fiscal years (4-quarter sums)FY21 $13.74B · FY22 $14.40B · FY23 $15.44B · FY24 $16.66B · FY25 $17.17B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jul 3, 2026Cash & short-term investments $748.0M · Total debt $6.58B · Total assets $15.63B · Shareholders' equity $5.28B
Dividends
Raised for 12 straight years — most recently to $0.43 from $0.40 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.43 | |
| Mar 16, 2026 | Mar 16 | Mar 31 | $0.43 | |
| Dec 15, 2025 | Dec 15 | Dec 31 | $0.43 | raised from $0.40 |
| Sep 15, 2025 | Sep 15 | Sep 30 | $0.40 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $0.40 | |
| Mar 14, 2025 | Mar 14 | Mar 28 | $0.40 | |
| Dec 16, 2024 | Dec 16 | Dec 31 | $0.40 | raised from $0.38 |
| Sep 13, 2024 | Sep 13 | Sep 27 | $0.38 |
Ownership
Shares outstanding 125.79M · Float 124.72M · 99.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 9.95M | 7.91% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 8.21M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 6.28M | 4.99% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 5.37M | 4.27% | 13F | Aug 13, 2026 |
| JPMorgan Chase & Co | 3.83M | 3.05% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Noel B. Geer | director | −10,000 | $140.66 |
| May 7, 2026 | Gary Stephen May | director | −1,484 | $132.75 |
| Apr 7, 2026 | Elizabeth A. Porter | officer: Sector President | −2,000 | $158.78 |
| Jan 20, 2026 | Elizabeth A. Porter | officer: Sector President | −3,000 | $192.21 |
| Dec 19, 2025 | Elizabeth A. Porter | officer: Sector President | −3,000 | $181.04 |
Peers
- Booz Allen Hamilton
Federal AI, cyber, and mission-tech peer
- CACI
Defense-intel IT and C5ISR overlap
- Science Applications International
Direct federal IT and mission-services rival
- General Dynamics
GDIT and C5ISR scale across federal missions
- Northrop Grumman
Advanced mission, space, and cyber systems rival
- Lockheed Martin
Defense systems and mission-command overlap
- L3Harris Technologies
Communications, ISR, EW, and mission-network rival
- Parsons
Federal cyber, space, and infrastructure rival
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Leidos | $141.00 | +0.31% | $17.69B | 13.1 | 11.6 | 1.0 | +7.2% |
| Booz Allen Hamilton | $75.24 | −0.05% | $9.05B | 11.8 | 12.0 | 0.8 | −4.2% |
| CACI | $623.04 | −0.96% | $13.88B | 26.0 | 19.1 | 1.5 | +17.6% |
| Science Applications International | $127.50 | +1.24% | $5.33B | 14.2 | 13.0 | 0.7 | +1.6% |
| General Dynamics | $376.45 | −0.75% | $102.63B | 23.1 | 21.7 | 1.9 | +8.1% |
| Northrop Grumman | $546.65 | +0.20% | $77.51B | 17.3 | 18.6 | 1.8 | +5.1% |
| Lockheed Martin | $564.08 | +0.07% | $130.13B | 20.8 | 17.9 | 1.7 | +10.5% |
| L3Harris Technologies | $262.82 | +0.01% | $48.94B | 26.5 | 21.3 | 2.1 | +8.4% |
| Parsons | $49.00 | 0.00% | $5.23B | 33.8 | 14.8 | 0.8 | −0.5% |
| Median | 21.9 | 18.2 | 1.6 | +6.6% |