NYSE · LDOS
Leidos Holdings, Inc.
Technology · Information Technology Services
$143.31▲ 0.23% ($0.33)today
As of 9:39 AM ET
Valuation
Cash-flow DCF
Verdict: cheap. Price below all scenarios.
The price holds with free cash flow shrinking 21.0% a year for 5 years. Our scenarios assume −0.3–25.0%.
That's below its past 10-year pace of 14.7%.
Value per share
Base case
$1,011.75
Price used $143.31 is 86% below this
USD · TTM ending Jul 3, 2026 · Price Nov 2, 2:39 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
3 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Reported total debt includes capitalised leases (~8% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
This estimate is at least 3× the price used. Review the assumptions behind the gap.
Free cash flow each value needs
Free cash flow today $2.2B. The price needs $1B by 2036. Base case: $6.4B. At its recent pace: $8.7B. Bear to Bull: $2.6B to $12.8B.
Free cash flow today $2.2B. The price needs $1B by 2036. Base case: $6.4B. At its recent pace: $8.7B. Bear to Bull: $2.6B to $12.8B.
Free cash flow in 2036
today $2.2B
−$5.4Bless than the Base case
Value per share · Base case
$1,011.75
Price $143.31
86% below this
- Stage 1 growth, yrs 1–5
- 14.7%
- Stage 2 growth, yrs 6–10
- 8.1%
- Discount rate
- 6.4%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
3 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Reported total debt includes capitalised leases (~8% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
This estimate is at least 3× the price used. Review the assumptions behind the gap.
USD · TTM ending Jul 3, 2026 · Price Nov 2, 2:39 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock fell 25.7% over the last year. Revenue grew 3.41% over the trailing twelve months. Operating margin moved from 11.95% to 11.46%. Free cash flow grew 54.28% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 2nd percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 11.46%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Return analysis
Company profile
Leidos Holdings, Inc., along with its various subsidiaries, delivers a broad spectrum of services and innovative solutions across key markets: defense, intelligence, civil government, and health.
Market multiples
Stock splits
Every 200 shares became 81
Profitability & growth
Analyst consensus
16
Buy
12
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Nov 3, 2026
Q3 FY26 · EPS est $3.03 · Revenue est $4.7B
Same quarter, year over year
FY26 YTD +3.4%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined $6.39 vs $6.18 · all 2 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
—
FY25
FY24
FY23
—
—
—
Fiscal year totals
- FY25
- $11.99
- +17.3%
- FY24
- $10.22
- —
Q2 FY26
Reported Aug 4, 2026 · Latest
HoverTap a cell to inspect
Actual
$3.26
Estimate
$2.91
Year over year
+1.6%
Vs prior quarter
+4.2%
Institutional Sentiment
Leidos Holdings, Inc. · LDOS
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.