Leidos Holdings Inc (LDOS)
UndervaluedFundamental
78
Price
$121.83
Market Cap
$15.39B
Part 1 · What the company is worth
Overview
Leidos Holdings, Inc., together with its subsidiaries, provides services and solutions for government and commercial customers in the United States and internationally. The National Security & Digital segment provides national security software; services by using artificial intelligence and machine learning to coordinate sea, ground, air, and space to help warfighters; offensive, defensive, and physical cyber operation solutions; intelligence analysis, operational support, logistics operations, security, linguistics, force production, biometrics, chemical, biological, radiological, nuclear, and explosives, energetics, training, and other services; and Digital Modernization and transformation services. The Health & Civil segment offers air traffic control systems; health mission software; managed health services; infrastructure management and operation; logistical operations and information technology support; and life science research and development support services. The Commercial & International segment provides power grid engineering and design, grid modernization, utility planning and consulting, energy management and efficiency, technology-driven innovation, and software and application development; people scanners, computed tomography carry-on baggage scanners, checked baggage scanners, and explosive trace detectors; mobile, non-intrusive ports and borders inspection systems; and open-architecture platform that transforms airport security by integrating disparate devices and technologies into a unified management system. The Defense Systems segment offers air and missile defense, maritime, aerospace, and cyber and threat systems; offers airborne training, intelligence, surveillance, and reconnaissance missions; and provides space-based electro-optic infrared systems, multi/hyperspectral, electronic warfare and signals intelligence, and communications payloads. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.
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Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
CACI bids against Leidos for the same U.S. Department of Defense and Intelligence Community contracts in cyber operations, mission software and intelligence analysis, staffed by the same pool of security-cleared engineers.
Booz Allen competes for the same federal digital-modernization, data and cyber task orders, selling to the same defense, intelligence and civilian agency budgets that account for most of Leidos' revenue.
SAIC, spun off from the same original company as Leidos, is a direct rival in federal systems integration and IT services for defense and civilian agencies.
Through its GDIT division, General Dynamics goes head to head with Leidos on large federal IT, network and health-agency contracts.
Parsons pursues the same national-security, critical-infrastructure and transportation programs that Leidos serves for U.S. and allied government customers.
Peraton, privately held by Veritas Capital, bids on the same classified intelligence, space and defense IT contracts and is named by Leidos among its principal competitors.
Balance Sheet & Liquidity
Revenue
$17.58B
Trailing 12 months (through 7/3/2026)
Net Income
$1.38B
Trailing 12 months (through 7/3/2026)
Free Cash Flow
$1.62B
Total Equity
$4.92B
Total Liabilities
$8.53B
Current Ratio
1.63
Interest Coverage
10.39
Debt/EBITDA
2.74
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$267.32
Current Price
$121.83
Margin of Safety
+54.4%
Fair Value Range
$173.76 - $360.88
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
11.35
ROE
29.5%
P/B Ratio
2.89
P/FCF
7.07
Gross Margin
17.5%
ROIC
12.9%
Profitability Radar
Value Creation (Economic Moat)
ROIC
12.9%
WACC
6.3%
ROIC − WACC
+6.6 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (21)
- EPS shows upward trend
- EPS CAGR 13.78%
- Price CAGR 9.68%
- ROIC 12.9%
- P/FCF 7.07
- P/B Ratio 2.89
- Debt/Equity ratio
- Operating Margin 11.5%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 27.4%
- Revenue Growth 5Y 6.9%
- Earnings Surprise avg 7.5%
- PEG Ratio 0.63
- Earnings Quality (OCF/NI) 1.67
- Share Dilution -4.4%
- Piotroski F-Score 8/9
Failed (6)
- Gross Margin 17.5%
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Analyst Consensus 48% Buy
- Net Margin Trend 7.8% vs 8.3%
Unavailable (1)
- Dividend Payout NaN%
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Thomas A. Bell | CEO & Director | 64 |
| Mr. Christopher R. Cage | Executive VP & CFO | 53 |
| Mr. Daniel J. Antal | Executive VP & General Counsel | 53 |
| Ms. Leslie K. Fautsch | Chief Human Resources Officer | 52 |
| Ms. Cynthia A. Gruensfelder | President of Defense Sector | 59 |
| Mr. Daniel A. Atkinson IV | SVP, Chief Accounting Officer & Corporate Controller | 46 |
| Mr. Theodore Tanner Jr. | Chief Technology Officer | 60 |
| Mr. M. Stuart Davis | Senior Vice President of Investor Relations | 66 |
| Mr. Thomas J. Downey | Executive VP, Chief Communications & Marketing Officer | 61 |
| Ms. Kimberly S. Rupert | Senior VP & Chief Risk Officer | - |
Audit Risk
4
Board Risk
1
Compensation Risk
5
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-17
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-04
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-04
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for LDOS, sourced from Markets Gazette.