Leidos (LDOS)
Market Price (4/5/2026): $158.81 | Market Cap: $19.9 BilSector: Industrials | Industry: Diversified Support Services
Leidos (LDOS)
Market Price (4/5/2026): $158.81Market Cap: $19.9 BilSector: IndustrialsIndustry: Diversified Support Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 8.2% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Artificial Intelligence, Cybersecurity, and Digital Health & Telemedicine. Themes include AI Software Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -1.6% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.6% Key risksLDOS key risks include its [1] significant dependence on U.S. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 8.2% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Cybersecurity, and Digital Health & Telemedicine. Themes include AI Software Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -1.6% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.6% |
| Key risksLDOS key risks include its [1] significant dependence on U.S. Show more. |
Qualitative Assessment
AI Analysis | Feedback
Leidos (LDOS) stock has lost about 10% since 12/31/2025 because of the following key factors:
1. Leidos experienced a year-over-year revenue decline of 3.6% in the fourth quarter of 2025, reporting $4.2 billion, which missed some analyst estimates.
This decline was partly attributed to an extra week in Q4 2024 and a six-week government shutdown in 2025.
2. Anticipated headwinds in the Health segment, with expectations of modestly lower revenue and margins due to increased vendor competition and program transitions, raised concerns among investors.
Show more
1. Leidos experienced a year-over-year revenue decline of 3.6% in the fourth quarter of 2025, reporting $4.2 billion, which missed some analyst estimates.
This decline was partly attributed to an extra week in Q4 2024 and a six-week government shutdown in 2025.
2. Anticipated headwinds in the Health segment, with expectations of modestly lower revenue and margins due to increased vendor competition and program transitions, raised concerns among investors.
Show more
Stock Movement Drivers
Fundamental Drivers
The -11.7% change in LDOS stock from 12/31/2025 to 4/4/2026 was primarily driven by a -16.4% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 179.95 | 158.82 | -11.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,332 | 17,174 | -0.9% |
| Net Income Margin (%) | 8.1% | 8.4% | 4.0% |
| P/E Multiple | 16.4 | 13.7 | -16.4% |
| Shares Outstanding (Mil) | 128 | 125 | 2.4% |
| Cumulative Contribution | -11.7% |
Market Drivers
12/31/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| LDOS | -11.7% | |
| Market (SPY) | -5.4% | 12.4% |
| Sector (XLI) | 5.6% | 19.1% |
Fundamental Drivers
The -15.6% change in LDOS stock from 9/30/2025 to 4/4/2026 was primarily driven by a -20.8% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 188.07 | 158.82 | -15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,053 | 17,174 | 0.7% |
| Net Income Margin (%) | 8.2% | 8.4% | 2.6% |
| P/E Multiple | 17.3 | 13.7 | -20.8% |
| Shares Outstanding (Mil) | 129 | 125 | 3.2% |
| Cumulative Contribution | -15.6% |
Market Drivers
9/30/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| LDOS | -15.6% | |
| Market (SPY) | -2.9% | 19.4% |
| Sector (XLI) | 6.5% | 28.8% |
Fundamental Drivers
The 18.8% change in LDOS stock from 3/31/2025 to 4/4/2026 was primarily driven by a 12.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 133.65 | 158.82 | 18.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,662 | 17,174 | 3.1% |
| Net Income Margin (%) | 7.5% | 8.4% | 12.0% |
| P/E Multiple | 14.0 | 13.7 | -1.8% |
| Shares Outstanding (Mil) | 131 | 125 | 4.8% |
| Cumulative Contribution | 18.8% |
Market Drivers
3/31/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| LDOS | 18.8% | |
| Market (SPY) | 16.3% | 31.2% |
| Sector (XLI) | 26.3% | 38.6% |
Fundamental Drivers
The 78.6% change in LDOS stock from 3/31/2023 to 4/4/2026 was primarily driven by a 77.2% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 88.90 | 158.82 | 78.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,396 | 17,174 | 19.3% |
| Net Income Margin (%) | 4.8% | 8.4% | 77.2% |
| P/E Multiple | 17.8 | 13.7 | -22.9% |
| Shares Outstanding (Mil) | 137 | 125 | 9.6% |
| Cumulative Contribution | 78.6% |
Market Drivers
3/31/2023 to 4/4/2026| Return | Correlation | |
|---|---|---|
| LDOS | 78.6% | |
| Market (SPY) | 63.3% | 28.4% |
| Sector (XLI) | 68.8% | 39.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LDOS Return | -14% | 20% | 5% | 35% | 27% | -13% | 59% |
| Peers Return | 14% | 27% | 8% | 5% | 9% | 5% | 88% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -4% | 75% |
Monthly Win Rates [3] | |||||||
| LDOS Win Rate | 58% | 58% | 58% | 67% | 75% | 50% | |
| Peers Win Rate | 55% | 62% | 57% | 65% | 52% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LDOS Max Drawdown | -19% | -5% | -27% | -1% | -12% | -14% | |
| Peers Max Drawdown | -10% | -7% | -15% | -6% | -19% | -6% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BAH, CACI, SAIC, GD, NOC. See LDOS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/2/2026 (YTD)
How Low Can It Go
| Event | LDOS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -30.4% | -25.4% |
| % Gain to Breakeven | 43.6% | 34.1% |
| Time to Breakeven | 202 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -42.5% | -33.9% |
| % Gain to Breakeven | 74.0% | 51.3% |
| Time to Breakeven | 1,425 days | 148 days |
| 2018 Correction | ||
| % Loss | -29.8% | -19.8% |
| % Gain to Breakeven | 42.4% | 24.7% |
| Time to Breakeven | 127 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -21.0% | -56.8% |
| % Gain to Breakeven | 26.6% | 131.3% |
| Time to Breakeven | 3,752 days | 1,480 days |
Compare to BAH, CACI, SAIC, GD, NOC
In The Past
Leidos's stock fell -30.4% during the 2022 Inflation Shock from a high on 12/2/2022. A -30.4% loss requires a 43.6% gain to breakeven.
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About Leidos (LDOS)
Leidos Holdings, Inc., together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. It operates through three segments: Defense Solutions, Civil, and Health. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S. Intelligence Community, the Department of Defense, the National Aeronautics and Space Administration, military services, and government agencies of U.S. allies abroad, as well as other federal and commercial customers in the national security industry. Its solutions include technology, large-scale systems, command and control platforms, data analytics, logistics, and cybersecurity solutions, as well as intelligence analysis and operations support services to critical missions. The Civil segment provides systems integration services to air navigation service providers, including the federal aviation administration, the En route automation modernization, advanced technology oceanic procedure, time based flow management, terminal flight data management, geo-7, and future flight services, as well as enterprise-information display systems; and security detection and automation services. It also offers information technology (IT) solutions in cloud computing, mobility, application modernization, DevOps, data center, network modernization, asset management, help desk operations, and digital workplace enablement; and environment, energy, and infrastructure services. The Health segment offers solutions to federal and commercial customers responsible for health and well-being of people worldwide, including health information management, managed health, digital transformation, and life sciences research and development services. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.
AI Analysis | Feedback
Analogy 1: Leidos is like Accenture or IBM Consulting, but specialized in complex technology and systems for the U.S. government, defense, and intelligence agencies.
Analogy 2: Leidos is like a larger, more systems-focused version of Booz Allen Hamilton, providing critical technology, cybersecurity, and operational support to national security and civil infrastructure.
AI Analysis | Feedback
Leidos provides the following major services:
- Defense & National Security Solutions: Delivers advanced technology, large-scale systems, command and control platforms, data analytics, logistics, cybersecurity, intelligence analysis, and operations support for defense, intelligence, and national security missions.
- Civil Aviation Systems Integration: Provides systems integration services for air navigation service providers, including air traffic management and modernization projects.
- Security Detection & Automation Services: Offers services related to security detection and automation technologies for various civil applications.
- Information Technology (IT) Solutions: Delivers comprehensive IT services, including cloud computing, mobility, application modernization, network modernization, and digital workplace enablement.
- Environment, Energy, & Infrastructure Services: Provides specialized services in environmental management, energy solutions, and infrastructure development and support.
- Health Systems & Digital Transformation: Offers health information management, managed health services, and digital transformation solutions for federal and commercial health customers.
- Life Sciences Research & Development Services: Provides specialized support for research and development initiatives within the life sciences sector.
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Major Customers of Leidos (LDOS)
Leidos primarily provides services and solutions to government agencies and other commercial entities. Its major customers, as identified in the company description, include:
- U.S. Intelligence Community
- Department of Defense (DoD)
- National Aeronautics and Space Administration (NASA)
- Federal Aviation Administration (FAA)
- Various U.S. military services
- Government agencies of U.S. allies abroad
- Other federal government customers in the U.S.
- Commercial customers in the national security, IT, environment, energy, infrastructure, and health industries (no specific company names are provided in the description for these commercial customers)
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```html Tom Bell, Chief Executive OfficerTom Bell became the Chief Executive Officer of Leidos in May 2023. He brings nearly 40 years of leadership experience across prominent aerospace organizations. Prior to joining Leidos, he served as President of Rolls-Royce Defense, where he led a global team providing power, propulsion, and service solutions. He was also Chairman and CEO of Rolls-Royce North America, Inc. Before his time at Rolls-Royce, Mr. Bell held various leadership positions at The Boeing Company, including Senior Vice President of Global Sales & Marketing for Defense, Space & Security, and served as Strategy Lead for Boeing Defense and Space. He began his career at Martin Marietta (now Lockheed Martin) in human space flight and later joined McDonnell Douglas (now part of Boeing).
Chris Cage, Chief Financial Officer
Chris Cage is the Executive Vice President and Chief Financial Officer of Leidos, a role he assumed in July 2021. He oversees all financial activities, including accounting, financial reporting, treasury, tax, planning and analysis, and investor relations. Mr. Cage has held various finance and management roles since joining Leidos (formerly SAIC) in 1996. His previous positions include Senior Vice President of Operations Finance, where he led finance integration efforts for the acquisition of Lockheed Martin's IS&GS business, and Chief Financial Officer of the Health and Engineering Sector. He also played a key role in implementing the company's financial planning organization, processes, and systems to support its transition to a publicly traded company through an IPO in 2006. Mr. Cage is a licensed CPA (inactive) and holds a bachelor's degree and an MBA from San Diego State University.
Gerry Fasano, Chief Growth Officer
Gerry Fasano currently serves as the Chief Growth Officer at Leidos. In this role, he is responsible for driving the company's growth strategy, expanding its market presence, and overseeing business development, mergers and acquisitions, and strategic planning. Before becoming Chief Growth Officer, he served as President of the Defense Group at Leidos and previously as Executive Vice President and Chief of Business Development and Strategy. Mr. Fasano led the integration of Lockheed Martin's Information Systems and Global Solutions (IS&GS) business into Leidos following its divestiture from Lockheed Martin in 2016. Prior to joining Leidos, he spent over 30 years at Lockheed Martin, holding senior leadership positions including leading business development and mergers and acquisitions and serving as a defense group general manager. He also serves as a consultant to Veritas Capital Fund Management.
Carly Kimball, Chief Performance Officer
Carly Kimball is the Chief Performance Officer at Leidos, responsible for optimizing operational efficiency and driving performance improvements across the organization. She previously served as Senior Vice President, Chief Accounting Officer, and Corporate Controller at Leidos, a role she held since July 2021. Ms. Kimball has over 20 years of experience in leading large teams and possesses extensive expertise in accounting, auditing, financial reporting, acquisitions, integrations, and business operations. Before joining Leidos, she was the Chief Financial Officer of CACI Products Company Inc. and also held a significant role as a senior manager in Ernst & Young's Aerospace and Defense audit practice.
Jim Carlini, Chief Technology Officer
Jim Carlini serves as the Chief Technology Officer at Leidos. He is responsible for directing the company's technological strategy and fostering innovation. His role involves overseeing the development and implementation of advanced technologies that enhance Leidos' capabilities across various sectors. Mr. Carlini's extensive background includes founding James Carlini Consulting and co-founding Zeteo Tech, LLC. He has also held significant positions at Northrop Grumman Corporation and DARPA, bringing a wealth of experience in advanced development programs and special projects. ```
AI Analysis | Feedback
1. Dependency on U.S. Government Contracts and Funding: Leidos derives a substantial portion of its revenue from contracts with various U.S. government agencies, including the Department of Defense, the Intelligence Community, NASA, and the Federal Aviation Administration. Consequently, the company's financial performance is highly susceptible to changes in government spending levels, budget priorities, and the overall political landscape. Fluctuations in government funding, increased budgetary pressures, or changes in procurement policies could lead to reduced demand for Leidos's services, failure to win new contracts, or the termination or reduction of existing programs.
2. Intense Competition in Government and Commercial Markets: Leidos operates in highly competitive markets across its Defense Solutions, Civil, and Health segments. The company faces significant competition from a wide array of government contractors, technology firms, and specialized service providers, some of whom may have greater resources or more established relationships. This competitive environment can exert pressure on pricing, reduce contract award opportunities, and require substantial investments in research and development and proposal efforts, potentially impacting profitability and market share.
3. Cybersecurity Threats and Data Breaches: As a provider of advanced technology solutions, cybersecurity services, and a handler of sensitive information for government and health clients, Leidos is a prime target for sophisticated cyberattacks, data breaches, and other security incidents. A successful cybersecurity breach could compromise classified information, sensitive client data, or proprietary company information. Such an event could lead to significant financial losses, reputational damage, legal liabilities, regulatory penalties, and the potential loss of future government and commercial contracts, particularly given the critical nature of its national security and health information management services.
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The increasing emphasis within government agencies on acquiring and integrating Commercial Off-the-Shelf (COTS) products, open-source solutions, and leveraging cloud-native architectures, coupled with an increasing drive for modular open system approaches (MOSA) and greater internal digital expertise, poses an emerging threat. This shift could disaggregate large systems integration contracts, reducing the demand for Leidos's traditional role in custom, large-scale systems development and integration, potentially allowing agencies to procure smaller, specialized services from agile competitors or manage more capabilities in-house.
AI Analysis | Feedback
Leidos Holdings, Inc. (LDOS) operates across defense, intelligence, civil, and health markets, serving government and commercial clients with a wide array of solutions and services. The addressable markets for its main products and services demonstrate significant scale both in the U.S. and globally.
Defense Solutions Segment
- Defense IT Spending: The global defense IT spending market was estimated at approximately USD 17.80 billion in 2024, with projections to reach USD 29.00 billion by 2032. North America is the fastest-growing region in this market, and the United States holds a dominant share. Other estimates place the global defense IT spending market at around USD 79.68 billion in 2020, projected to grow to USD 137.65 billion by 2030.
- Government and Defense Cybersecurity: The global government and defense cybersecurity market was valued at approximately USD 35.87 billion in 2025 and is expected to reach about USD 80.70 billion by 2033. North America held the largest share in this market in 2025. Another report indicates the government and public sector cybersecurity market is expected to increase from USD 75.14 billion in 2025 to USD 153.36 billion by 2031, with North America retaining a significant share. The global defense cybersecurity market specifically was valued at USD 30.23 billion in 2024, with North America accounting for 43.15% of the global revenue share in the same year.
Civil Segment
- Air Traffic Management (ATM): The global air traffic management market size was estimated at USD 9.4 billion in 2023 and is projected to grow to approximately USD 15.2 billion by 2032. North America is a key market, expected to reach USD 3.8 billion by 2032, and held a 30.80% market share in 2025.
- Airport Security: The global airport security market was estimated at USD 15.75 billion in 2024 and is projected to reach USD 25.94 billion by 2030. North America dominated the global market, holding a 33.2% revenue share in 2024. Other estimates suggest the global market was valued at USD 15.41 billion in 2024 and is projected to grow to USD 38.45 billion by 2035.
- U.S. Federal Civilian IT Spending: Federal civilian IT budgets in the U.S. are projected to be approximately $76.8 billion in fiscal year 2025. Overall federal spending on contractor-supplied IT products and services (including defense and civilian) is forecasted to grow from $131.0 billion in FY 2024 to $156.1 billion in FY 2028.
- U.S. Federal Cloud Market: The total addressable market for federal cloud solutions in the U.S. was estimated at roughly $17 billion in fiscal year 2024, with projections to rise to between $20 billion and $21 billion in fiscal year 2025, and to surpass $30 billion by fiscal year 2028.
Health Segment
- Life Sciences Research and Development Services: The global life science research services market size is calculated at USD 35.37 billion in 2025 and is predicted to increase to approximately USD 96.26 billion by 2035. North America was the dominant market in 2025. Additionally, the global life sciences consulting services market was valued at approximately USD 14.1 billion in 2024 and is projected to grow to about USD 29.6 billion by 2034.
- Healthcare IT: The global healthcare IT market size was valued at USD 375.37 billion in 2024 and is projected to grow to USD 1173.34 billion by 2033. North America leads this global market. The U.S. healthcare IT market specifically was valued at USD 104 billion in 2024, with estimates for it to reach USD 325.2 billion by 2033. Other sources estimate the U.S. healthcare IT market at USD 182.20 billion in 2024, projected to reach USD 396.82 billion by 2030, or USD 160.52 billion in 2024, projected to hit around USD 566.48 billion by 2034.
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Leidos (LDOS) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market advantages:
- Strategic Acquisitions and Investments: Leidos is actively pursuing strategic acquisitions to expand its market presence and enhance capabilities. The acquisition of ENTRUST Solutions Group is anticipated to broaden its base of utility clients and strengthen its ability to innovate across diverse utility customers. Additionally, the acquisition of Kudu Dynamics is expected to bolster its cybersecurity capabilities, particularly its AI-enabled cyber offerings for defense and intelligence clients. The company also plans to triple its capital expenditures in 2026 compared to 2025, focusing on opportunities that deliver strong returns.
- Execution of NorthStar 2030 Strategy and Growth Pillars: Leidos's NorthStar 2030 strategy centers on expanding in specific high-growth areas. These "Growth Pillars" include space and maritime, energy infrastructure, digital modernization and cyber, specialized mission software, and managed health services. This strategic alignment aims to capture new market opportunities and meet critical government and commercial demands, contributing to sustained revenue growth.
- Robust Backlog and New Contract Wins: The company consistently demonstrates strong business development performance with significant net bookings and a substantial backlog. Leidos reported a backlog of $49.0 billion at the end of fiscal year 2025, with $9.7 billion funded. This large backlog, coupled with the company's ongoing ability to secure large government contracts and new awards, provides a stable foundation for future revenue streams and growth. For instance, net bookings totaled $5.6 billion in the fourth quarter and $17.5 billion for fiscal year 2025.
- Advancements in Digital Modernization, Cybersecurity, and AI: Leidos is focusing on technological advancements, particularly in digital modernization, cybersecurity, and artificial intelligence (AI). The company highlighted significant advancements in its AI and maritime autonomy sectors in Q2 2025, which bolstered its capabilities and contributed to a competitive edge in government efficiency solutions. Digital modernization is a core growth pillar within its NorthStar 2030 strategy, involving upgrading legacy systems to address complex customer needs.
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Share Repurchases
Leidos announced a $500 million accelerated share repurchase agreement (ASR) in February 2025, with an initial payment made and approximately 3 million shares received on February 20, 2025. This ASR is part of the company's ongoing share repurchase authorization. In the fourth quarter of fiscal year 2025, Leidos repurchased $305 million of its shares. The company also had a stock repurchase program authorized in February 2022, allowing for the repurchase of up to 20 million shares, superseding a prior authorization.Share Issuance
Leidos Holdings' shares outstanding saw a decline of 4.41% in 2025 from 2024, and a 1.45% decline in 2024 from 2023, indicating net share repurchases rather than significant issuances.Outbound Investments
Leidos acquired Kudu Dynamics LLC in May 2025 for $300 million, a strategic move to deepen its cyber capabilities. The company also entered into an agreement to acquire Entrust Solutions Group for $2.4 billion, with the transaction expected to close in the first half of fiscal year 2026. This acquisition is intended to broaden Leidos' utility client base and strengthen its innovation across the power delivery spectrum. The Entrust acquisition is planned to be funded by $500 million cash, $500 million in commercial paper, and $1.4 billion in new bonds.Capital Expenditures
Leidos' capital expenditures averaged $142.8 million for the fiscal years ending December 2021 to 2026. Capital expenditures peaked in December 2023 at $207 million and reached a five-year low of $104 million in December 2021. For 2026, Leidos plans to triple its capital expenditures to $350 million, primarily focusing on expanding production capacity in defense and classified facilities, along with supporting new co-investment agreements with government agencies.Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| 9-Day Sell-Off Sends Leidos Stock Down 8.8% | 03/31/2026 | |
| 8-Day Sell-Off Sends Leidos Stock Down 8.0% | 03/28/2026 | |
| Leidos Stock 7-Day Losing Spree: Stock Falls 6.7% | 03/27/2026 | |
| Is 11.4% Fall In Leidos (LDOS) Stock A Buying Opportunity? | 03/11/2026 | |
| How Does Leidos Stock Stack Up Against Its Peers? | 03/07/2026 | |
| Time To Buy Leidos Stock? | 03/05/2026 | |
| Would You Still Hold Leidos Stock If It Fell Another 30%? | 03/05/2026 | |
| Leidos Earnings Notes | 12/24/2025 | |
| ARTICLES | ||
| Leidos Stock Slides -8.8% With A 9-Day Losing Spree | 03/31/2026 | |
| Leidos Stock Slides -8% With A 8-Day Losing Spree | 03/28/2026 | |
| Leidos Stock Plummets -6.7% With 7-Day Losing Streak | 03/27/2026 | |
| Leidos Stock To $218? | 03/11/2026 | |
| Pay Less, Gain More: CACI, LDOS Top Thomson Reuters Stock | 03/10/2026 |
Trade Ideas
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| 03312026 | NSP | Insperity | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03312026 | TNC | Tennant | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | ADP | Automatic Data Processing | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 1.0% | 1.0% | 0.0% |
| 03272026 | HURN | Huron Consulting | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.0% | 4.0% | 0.0% |
| 03272026 | TRU | TransUnion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.2% | 5.2% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 253.95 |
| Mkt Cap | 16.3 |
| Rev LTM | 14,292 |
| Op Inc LTM | 1,572 |
| FCF LTM | 1,279 |
| FCF 3Y Avg | 991 |
| CFO LTM | 1,385 |
| CFO 3Y Avg | 1,113 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.7% |
| Rev Chg 3Y Avg | 7.2% |
| Rev Chg Q | 1.1% |
| QoQ Delta Rev Chg LTM | 0.2% |
| Op Mgn LTM | 9.7% |
| Op Mgn 3Y Avg | 9.1% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 9.3% |
| CFO/Rev 3Y Avg | 7.8% |
| FCF/Rev LTM | 7.7% |
| FCF/Rev 3Y Avg | 6.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 16.3 |
| P/S | 1.3 |
| P/EBIT | 12.4 |
| P/E | 18.0 |
| P/CFO | 14.6 |
| Total Yield | 7.2% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 5.0% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.1% |
| 3M Rtn | 0.7% |
| 6M Rtn | 0.8% |
| 12M Rtn | 31.4% |
| 3Y Rtn | 59.5% |
| 1M Excs Rtn | -1.6% |
| 3M Excs Rtn | 5.8% |
| 6M Excs Rtn | 3.4% |
| 12M Excs Rtn | 7.4% |
| 3Y Excs Rtn | -2.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| National Security & Digital | 7,365 | 7,196 | |||
| Health & Civil | 5,015 | 4,238 | |||
| Commercial & International | 2,252 | 2,126 | |||
| Defense Systems | 2,030 | 1,878 | |||
| Civil | 3,464 | 3,157 | 2,994 | ||
| Defense Solutions | 8,244 | 8,032 | 7,341 | ||
| Health | 2,688 | 2,548 | 1,962 | ||
| Total | 16,662 | 15,438 | 14,396 | 13,737 | 12,297 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Health & Civil | 1,095 | 574 | |||
| National Security & Digital | 720 | 672 | |||
| Commercial & International | 104 | -560 | |||
| Defense Systems | 94 | 65 | |||
| Corporate expense | -186 | -130 | -108 | -107 | -23 |
| Civil | 234 | 248 | 280 | ||
| Defense Solutions | 541 | 569 | 506 | ||
| Health | 421 | 442 | 235 | ||
| Total | 1,827 | 621 | 1,088 | 1,152 | 998 |
Price Behavior
Price Behavior
| Market Price | $158.82 | |
| Market Cap ($ Bil) | 19.9 | |
| First Trading Date | 10/17/2006 | |
| Distance from 52W High | -20.0% | |
| 50 Days | 200 Days | |
| DMA Price | $174.60 | $178.73 |
| DMA Trend | up | down |
| Distance from DMA | -9.0% | -11.1% |
| 3M | 1YR | |
| Volatility | 39.4% | 28.7% |
| Downside Capture | 0.53 | 0.32 |
| Upside Capture | 31.88 | 58.27 |
| Correlation (SPY) | 12.6% | 30.1% |
LDOS Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.42 | 0.06 | 0.43 | 0.52 | 0.49 | 0.52 |
| Up Beta | -4.42 | 0.59 | 0.74 | 0.45 | 0.48 | 0.51 |
| Down Beta | -0.78 | -1.06 | -0.38 | 0.05 | 0.37 | 0.40 |
| Up Capture | -76% | -18% | 41% | 50% | 53% | 37% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 19 | 29 | 61 | 135 | 404 |
| Down Capture | 64% | 86% | 103% | 93% | 65% | 78% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 23 | 34 | 65 | 115 | 342 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LDOS | |
|---|---|---|---|---|
| LDOS | 18.9% | 29.6% | 0.59 | - |
| Sector ETF (XLI) | 25.7% | 19.5% | 1.05 | 38.6% |
| Equity (SPY) | 16.1% | 19.0% | 0.67 | 31.2% |
| Gold (GLD) | 50.5% | 28.0% | 1.46 | 10.5% |
| Commodities (DBC) | 16.2% | 17.7% | 0.77 | 17.2% |
| Real Estate (VNQ) | 3.6% | 16.5% | 0.04 | 29.5% |
| Bitcoin (BTCUSD) | -21.5% | 44.0% | -0.42 | 20.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LDOS | |
|---|---|---|---|---|
| LDOS | 12.0% | 26.2% | 0.43 | - |
| Sector ETF (XLI) | 12.4% | 17.2% | 0.56 | 42.8% |
| Equity (SPY) | 11.6% | 17.0% | 0.53 | 31.8% |
| Gold (GLD) | 21.7% | 17.8% | 1.00 | 5.6% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 16.6% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 31.1% |
| Bitcoin (BTCUSD) | 3.9% | 56.5% | 0.29 | 11.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LDOS | |
|---|---|---|---|---|
| LDOS | 17.9% | 27.3% | 0.64 | - |
| Sector ETF (XLI) | 13.4% | 19.9% | 0.60 | 55.4% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 49.8% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 2.9% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 20.3% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 45.0% |
| Bitcoin (BTCUSD) | 66.2% | 66.8% | 1.06 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/17/2026 | -8.4% | -2.4% | -3.9% |
| 11/4/2025 | -2.2% | -0.7% | -6.4% |
| 8/5/2025 | 0.9% | 2.9% | 3.3% |
| 5/6/2025 | -0.0% | 0.4% | -6.1% |
| 2/11/2025 | -3.6% | -8.1% | -6.4% |
| 10/29/2024 | -0.1% | 2.3% | -11.8% |
| 7/30/2024 | -1.1% | -1.8% | 7.1% |
| 4/30/2024 | 6.5% | 8.4% | 10.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 12 | 12 |
| # Negative | 15 | 11 | 11 |
| Median Positive | 4.6% | 4.1% | 8.0% |
| Median Negative | -3.3% | -4.0% | -8.7% |
| Max Positive | 8.0% | 12.6% | 22.5% |
| Max Negative | -14.5% | -16.2% | -17.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/11/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/17/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 17.50 Bil | 17.70 Bil | 17.90 Bil | 3.4% | Higher New | Actual: 17.12 Bil for 2025 | |
| 2026 Operating Margin | 13.0% | 0 | 0 | Same New | Actual: 13.0% for 2025 | ||
| 2026 EPS | 12.1 | 12.2 | 12.4 | 5.6% | Higher New | Actual: 11.6 for 2025 | |
| 2026 Free Cash Flow | 1.75 Bil | 6.1% | Higher New | Actual: 1.65 Bil for 2025 | |||
Prior: Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 17.00 Bil | 17.12 Bil | 17.25 Bil | 0 | Affirmed | Guidance: 17.12 Bil for 2025 | |
| 2025 Adjusted EBITDA Margin | 13.0% | 0 | 0 | Affirmed | Guidance: 13.0% for 2025 | ||
| 2025 Non-GAAP Diluted EPS | 11.4 | 11.6 | 11.8 | 2.7% | Raised | Guidance: 11.3 for 2025 | |
| 2025 Cash Flows Provided by Operating Activities | 1.65 Bil | 0 | Affirmed | Guidance: 1.65 Bil for 2025 | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Porter, Elizabeth A | Sector President | Direct | Sell | 12222025 | 181.04 | 3,000 | 543,130 | 7,526,877 | Form |
| 2 | Hull, Stephen Edward | Sector President | Direct | Sell | 9042025 | 178.14 | 12,497 | 2,226,216 | 4,599,037 | Form |
| 3 | Stevens, Roy E | Sector President | Direct | Sell | 8272025 | 181.66 | 2,716 | 493,398 | 9,071,180 | Form |
| 4 | Hull, Stephen Edward | Sector President | Direct | Sell | 8222025 | 178.27 | 12,890 | 2,297,945 | 4,701,069 | Form |
| 5 | May, Gary Stephen | Direct | Sell | 8132025 | 178.05 | 2,000 | 356,104 | 1,804,915 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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