LeidosLDOSEarnings & Financial Report
Leidos Holdings, Inc. is an American defense, aviation, information technology, and biomedical research company headquartered in Reston, Virginia, that provides scientific, engineering, systems integration, and technical services. Founded as Science Applications International Corporation (SAIC), Leidos merged with Lockheed Martin's IT sector, Information Systems & Global Solutions, in August 2016 to create the defense industry’s largest IT services provider.
Revenue
$4.1B
Gross Profit
$680.0M
Operating Profit
$475.0M
Net Profit
$322.0M
Gross Margin
16.6%
Operating Margin
11.6%
Net Margin
7.8%
YoY Growth
7.7%
EPS
$2.37
Leidos Q2 FY2024 Financial Summary
Leidos reported revenue of $4.1B (up 7.7% YoY) for Q2 FY2024, with a net profit of $322.0M (up 55.6% YoY) (7.8% margin). Cost of goods sold was $3.4B, operating expenses totaled $205.0M.
Key Financial Metrics
| Total Revenue | $4.1B |
|---|---|
| Net Profit | $322.0M |
| Gross Margin | 16.6% |
| Operating Margin | 11.6% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Leidos Q2 FY2024 revenue of $4.1B breaks down across 7 segments, led by Health And Civil Segment at $1.3B (30.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Health And Civil Segment | $1.3B | 30.6% |
| Cost Reimbursement And Fixed Price Incentive Fee | $948.0M | 23.1% |
| Commercial And International Segment | $560.0M | 13.6% |
| Other Government Agencies | $520.0M | 12.7% |
| Other | $441.0M | 10.7% |
| Time And Materials And Fixed Price Level Of Effort | $353.0M | 8.6% |
| Commercial And Non US Customers | $28.0M | 0.7% |
Leidos Revenue by Segment — Quarterly Trend
Leidos revenue by segment across the last 4 reported quarters, showing how each business line (such as Health And Civil Segment and Cost Reimbursement And Fixed Price Incentive Fee) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Health And Civil Segment | — | — | $1.3B | — |
| Cost Reimbursement And Fixed Price Incentive Fee | $1.0B | $1.1B | $1.0B | $1.0B |
| Commercial And International Segment | $609.0M | $570.0M | $566.0M | — |
| Other Government Agencies | — | — | $507.0M | $449.0M |
| Other | $358.0M | $337.0M | $317.0M | — |
Leidos Annual Revenue by Year
Leidos annual revenue history includes year-by-year totals (for example, 2025 revenue was $17.1B).
| Year | Annual Revenue |
|---|---|
| 2025 | $17.1B |
| 2024 | $16.6B |
| 2023 | $15.3B |
Leidos Quarterly Revenue & Net Profit History
Leidos results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $4.2B | -3.5% | $327.0M | 7.8% |
| Q3 FY2025 | $4.4B | +2.3% | $367.0M | 8.2% |
| Q2 FY2025 | $4.2B | +1.5% | $391.0M | 9.2% |
| Q1 FY2025 | $4.2B | +7.0% | $363.0M | 8.6% |
| Q4 FY2024 | $4.3B | +10.1% | $284.0M | 6.5% |
| Q3 FY2024 | $4.2B | +7.0% | $364.0M | 8.7% |
| Q2 FY2024 | $4.1B | +7.7% | $322.0M | 7.8% |
| Q1 FY2024 | $4.0B | +7.4% | $284.0M | 7.2% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.95B | $4.11B | $4.17B | $4.35B | $4.23B | $4.23B | $4.45B | $4.20B |
| YoY Growth | 7.4% | 7.7% | 7.0% | 10.1% | 7.0% | 1.5% | 2.3% | -3.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $12.82B | $12.91B | $13.34B | $13.10B | $13.20B | $13.55B | $13.54B | $13.49B |
| Liabilities | $8.50B | $8.40B | $8.67B | $8.64B | $8.89B | $8.84B | $8.59B | $8.53B |
| Equity | $4.26B | $4.46B | $4.61B | $4.41B | $4.26B | $4.66B | $4.91B | $4.92B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $63.0M | $374.0M | $656.0M | $299.0M | $58.0M | $711.0M | $495.0M |