Leidos has posted revenues of $17.2 billion for fiscal year 2025, marking a 3 percent year-over-year increase. The company said in its earnings release published Tuesday that its net bookings for the full fiscal year reached $17.5 billion.
Its adjusted EBITDA was $2.42 billion, a 14.1 percent margin, while its net bookings reached $17.5 billion, a book-to-bill ratio of 1.0.
“Our performance this quarter and throughout the year underscores the incredible resilience of our team and the power of our strategy in action,” Tom Bell, CEO of Leidos and a three-time Wash100 winner, stated. “In a dynamic market environment, we delivered solid top-line growth, outstanding earnings power, and robust cash generation, which provide a strong foundation for future investment. This success is not accidental; we are acting with urgency to advance our customers’ most critical national security priorities and proactively shaping our portfolio towards our strategic Growth Pillars—in space and maritime, energy infrastructure, digital modernization and cyber, mission software, and managed health services.”
For fiscal 2026, Leidos expects to generate between $17.5 billion and $17.9 billion and an adjusted EBITDA margin of mid-13 percent.
How Did Leidos Perform in Q4 FY2025?
Fourth-quarter revenues totaled $4.21 billion, down 4 percent year-over-year due primarily to an extra work week in the prior-year period and a six-week government shutdown during the quarter. Adjusted EBITDA reached $556 million, up by 9 percent compared to the same period in the year prior.
Leidos reported $5.6 billion in fourth-quarter net bookings, representing book-to-bill ratios of 1.3.
What Contracts Did Leidos Secure?
Notable awards included a five-year, $2.2 billion Air Force contract for the Air Base Air Defense-Missile Defense program and a potential six-year, $455 million award for the Air Force Cloud One Next initiative.
The company also received a $151 million Army contract modification for the Common Hypersonic Glide Body program and a $142 million award to support the Defense Information Systems Agency’s Compartmented Enterprise Systems Office.
Additionally, Leidos secured positions on major indefinite-delivery/indefinite-quantity vehicles, including the Missile Defense Agency’s $151 billion Scalable Homeland Innovative Enterprise Layered Defense, or SHIELD, contract and the Defense Microelectronics Activity’s $24.5 billion Advanced Technology Support Program V program.
