LDOS · 10-Q · 2026Q3

Leidos Holdings, Inc.

Filed 2026-08-04 · Technology · View original filing on EDGAR

Ranked Events

• Interest Rate and Refinancing ExposureImportance 84 · Surprise 74
  Outstanding debt increased to $6.0 billion at July 3, 2026, from $4.6 billion at January 2, 2026. In March 2026, Leidos issued $600 million of 4.10% senior notes due March 2029 and $800 million of 5.00% senior notes…
• Liquidity and Debt PositionImportance 84 · Surprise 74
  Leidos held $748 million of cash and cash equivalents as of July 3, 2026, with no borrowings under its $1.5 billion revolving credit facility and no commercial paper outstanding. Outstanding debt increased to $6.0…
• Order Backlog and Book-to-BillImportance 76 · Surprise 56
  Leidos recorded estimated net bookings of $4.9 billion in the second quarter and $8.2 billion year to date, versus $3.9 billion and $6.0 billion, respectively, in the prior-year periods. Total backlog increased to…
• Order Backlog and BookingsImportance 71 · Surprise 48
  Leidos recorded estimated net bookings of $4.9 billion in the quarter and $8.2 billion in the six months ended July 3, 2026, compared with $3.9 billion and $6.0 billion in the comparable 2025 periods. Total backlog…
• Acquisitions and DivestituresImportance 71 · Surprise 60
  Leidos recognized $141 million of Homeland revenue from the Entrust acquisition during the three months ended July 3, 2026, and $152 million during the six-month period. The Entrust acquisition added $371 million of…
• U.S. Government Funding OutlookImportance 64 · Surprise 42
  Leidos generated approximately 83% of revenue in the three months and 85% in the six months ended July 3, 2026, from U.S. government contracts. Congress was advancing fiscal 2027 appropriations bills, but management…
• Revenue Concentration RiskImportance 61 · Surprise 32
  U.S. government contracts represented approximately 83% of total revenue in the quarter ended July 3, 2026, down from 87% in the comparable 2025 quarter. U.S. government contracts represented 85% of six-month revenue,…
• Geographic Market CommentaryImportance 60 · Surprise 40
  International customers, including foreign governments and their agencies, represented approximately 9% of second-quarter revenue and 8% of year-to-date revenue. This compares with 8% of revenue for both comparable…
• Capital Return ProgramImportance 51 · Surprise 38
  Leidos repurchased $66 million of common stock in the open market during the three months ended July 3, 2026, and $266 million during the six-month period. The company made no open-market repurchases in the comparable…
• End-Market Demand TrendsImportance 49 · Surprise 32
  Leidos generated approximately 83% of second-quarter and 85% of year-to-date revenue from U.S. government contracts, with demand tied primarily to national security, homeland security and intelligence spending.…
• Revenue Performance and MixImportance 49 · Surprise 32
  Leidos generated $4.558 billion of revenue in the three months ended July 3, 2026, up 7.2% from $4.253 billion, and $8.958 billion in the six months, up 5.4% from $8.498 billion. Intelligence & Digital revenue…
• Income Tax Rate ChangesImportance 47 · Surprise 48
  Leidos' effective tax rate decreased to 21.1% from 24.1% for the three months ended July 3, 2026. The six-month effective tax rate decreased to 21.5% from 23.9% in the prior-year period. The reductions in both periods…
• Operating Cash Flow TrendsImportance 38 · Surprise 24
  Net cash provided by operating activities increased $307 million in the quarter and $550 million for the six months ended July 3, 2026, versus the comparable 2025 periods. The improvement primarily reflected favorable…
• Operating Margin DriversImportance 36 · Surprise 40
  Consolidated operating margin decreased to 11.3% from 13.4% in the quarter and to 11.4% from 13.0% for the six months ended July 3, 2026. Intelligence & Digital's six-month operating margin improved to 9.6% from 9.5%…
• Trade Policy and TariffsImportance 17 · Surprise 24
  Leidos stated that higher tariffs on imported goods and materials could increase the cost of goods needed to fulfill customer contracts and for internal purposes. The company expects to recover certain portions of…

Revenue by Product (in millions)

Revenue by Geography (in millions)