Logotype for Leidos Holdings Inc

Leidos (LDOS) investor relations material

Leidos Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Leidos Holdings Inc
Q3 2025 earnings summary4 Nov, 2025

Executive summary

  • Achieved record Q3 2025 revenues of $4.47 billion, up 7% year-over-year, with 6% organic growth and strong performance across all segments.

  • Adjusted EBITDA margin reached 13.8%, with adjusted EBITDA of $616 million and operating cash flow of $711 million.

  • Net income attributable to common stockholders was $369 million ($2.82 per diluted share), up 2% year-over-year; non-GAAP diluted EPS was $3.05, up 4%.

  • Raised 2025 guidance for the second time, reflecting confidence in continued growth and portfolio alignment with customer priorities.

  • Strategic focus on innovation, AI deployment, and outcome-based contracting is driving business momentum.

Financial highlights

  • Q3 revenues were $4.47 billion, up 7% year-over-year and 6% organically; net income was $369 million.

  • Adjusted EBITDA for Q3 was $616 million, margin 13.8%; non-GAAP diluted EPS grew 4% to $3.05.

  • Free cash flow for Q3 was $680 million, with a conversion ratio of 171%; operating cash flow was $711 million.

  • Ended the quarter with $4.7 billion in debt and $974 million in cash.

  • Book-to-bill ratio was 1.3x for the quarter; backlog reached $47.7 billion, up 5% year-over-year.

Outlook and guidance

  • Fiscal year 2025 revenue guidance maintained at $17.00–$17.25 billion.

  • Adjusted EBITDA margin guidance raised to high 13% range; non-GAAP EPS guidance increased to $11.45–$11.75.

  • Operating cash flow guidance reaffirmed at approximately $1.65 billion.

  • Guidance ranges widened to hedge against government environment unpredictability.

  • Effective tax rate expected between 23.5%–24.0%; anticipates lower tax payments in fiscal 2025 due to new legislation.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Leidos earnings date

Logotype for Leidos Holdings Inc
Q4 202510 Feb, 2026
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Leidos earnings date

Logotype for Leidos Holdings Inc
Q4 202510 Feb, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Leidos Holdings, Inc., provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through three segments: Aerospace, Defense and Intelligence Solutions; Health, Engineering and Operations; and Enterprises. The Aerospace, Defense and Intelligence Solutions segment engages in providing command, control, communications systems. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage