Leidos Holdings, Inc.
LDOS
Services-Computer Integrated Systems Design
Mkt Cap
$19.98BPE
62.45Debt
$4.722BCash
$747MEV
$23.96BFCF
$1.141BP/E Ratio
62.45Debt
$4.722BCash
$747MEV
$23.96BFCF
$1.141BCharts data: {"Earnings":[{"time":"2015-01-29","value":-323000000},{"time":"2015-12-31","value":242000000},{"time":"2016-12-29","value":244000000},{"time":"2017-12-28","value":364000000},{"time":"2018-12-27","value":581000000},{"time":"2020-01-02","value":667000000},{"time":"2020-12-31","value":628000000},{"time":"2021-12-30","value":753000000},{"time":"2022-12-29","value":685000000},{"time":"2023-12-28","value":199000000}],"Sales":[{"time":"2015-01-29","value":5063000000},{"time":"2015-12-31","value":4712000000},{"time":"2016-12-29","value":7043000000},{"time":"2017-12-28","value":10170000000},{"time":"2018-12-27","value":10194000000},{"time":"2020-01-02","value":11094000000},{"time":"2020-12-31","value":12297000000},{"time":"2021-12-30","value":13737000000},{"time":"2022-12-29","value":14396000000},{"time":"2023-12-28","value":15438000000}],"Net Margins":[{"time":"2015-01-29","value":-0.06379616827967609},{"time":"2015-12-31","value":0.05135823429541596},{"time":"2016-12-29","value":0.03464432770126367},{"time":"2017-12-28","value":0.03579154375614552},{"time":"2018-12-27","value":0.05699431037865411},{"time":"2020-01-02","value":0.060122588786731566},{"time":"2020-12-31","value":0.05106936651215744},{"time":"2021-12-30","value":0.05481546189124263},{"time":"2022-12-29","value":0.04758266185051403},{"time":"2023-12-28","value":0.0128902707604612}],"Assets":[{"time":"2015-01-29","value":3281000000},{"time":"2015-12-31","value":3377000000},{"time":"2016-12-29","value":9132000000},{"time":"2017-12-28","value":8990000000},{"time":"2018-12-27","value":8770000000},{"time":"2020-01-02","value":9367000000},{"time":"2020-12-31","value":12511000000},{"time":"2021-12-30","value":13261000000},{"time":"2022-12-29","value":13071000000},{"time":"2023-12-28","value":12695000000}],"Stockholders Equity":[{"time":"2015-01-29","value":998000000},{"time":"2015-12-31","value":1068000000},{"time":"2016-12-29","value":3147000000},{"time":"2017-12-28","value":3383000000},{"time":"2018-12-27","value":3311000000},{"time":"2020-01-02","value":3417000000},{"time":"2020-12-31","value":3871000000},{"time":"2021-12-30","value":4344000000},{"time":"2022-12-29","value":4353000000},{"time":"2023-12-28","value":4258000000}],"ROE":[{"time":"2015-01-29","value":-0.32364729458917835},{"time":"2015-12-31","value":0.22659176029962547},{"time":"2016-12-29","value":0.07753415951700032},{"time":"2017-12-28","value":0.107596807567248},{"time":"2018-12-27","value":0.17547568710359407},{"time":"2020-01-02","value":0.1952004682470003},{"time":"2020-12-31","value":0.162231981400155},{"time":"2021-12-30","value":0.17334254143646408},{"time":"2022-12-29","value":0.15736273834137376},{"time":"2023-12-28","value":0.046735556599342414}],"ROA":[{"time":"2015-01-29","value":-0.007010057909174032},{"time":"2015-12-31","value":0.12081729345572993},{"time":"2016-12-29","value":0.04566360052562418},{"time":"2017-12-28","value":0.06218020022246941},{"time":"2018-12-27","value":0.08540478905359179},{"time":"2020-01-02","value":0.0973630831643002},{"time":"2020-12-31","value":0.07976980257373512},{"time":"2021-12-30","value":0.08687127667596713},{"time":"2022-12-29","value":0.0832377017825721},{"time":"2023-12-28","value":0.04891689641591178}]}
Leidos Holdings, Inc., together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. It operates through three segments: Defense Solutions, Civil, and Health. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S. Intelligence Community, the Department of Defense, the space development agency, the National Aeronautics and Space Administration, defense information systems agency, military services, and government agencies of U.S. allies abroad, as well as other federal and commercial customers in the national security industry. Its solutions include technology, large-scale systems, command and control platforms, data analytics, logistics, and cybersecurity solutions, as well as intelligence analysis and operations support services to critical missions. The Civil segment provides systems integration services to air navigation service providers, including the federal aviation administration, the En route automation modernization, advanced technology oceanic procedure, time based flow management, terminal flight data management, geo-7, and future flight services, as well as enterprise-information display systems; and security detection and automation services. It also offers information technology (IT) solutions in cloud computing, mobility, application modernization, DevOps, data center, network modernization, asset management, help desk operations, and digital workplace enablement; and environment, energy, and infrastructure services. The Health segment offers solutions to federal and commercial customers responsible for health and well-being of people, include health information management, managed health, digital modernization, and life sciences research and development services. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.
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DCF
Discounted Cash Flow Valuation of Leidos Holdings, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $1.141B | $1.288B | $1.442B | $1.603B | $1.767B | $1.933B | $2.097B | $2.257B | $2.409B | $2.551B | $2.679B | $26.79B |
| DCF | $1.12B | $1.091B | $1.054B | $1.01B | $961M | $906.7M | $848.5M | $787.7M | $725.2M | $662.1M | $6.621B | |
| Value | $15.79B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 10%
Earnings Stability 25%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 01-2020 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 5.1% | 3.5% | 3.6% | 5.7% | 6% | 5.1% | 5.5% | 4.8% | 1.3% | 2% |
| ROA | 12% | 4.6% | 6.2% | 8.5% | 9.7% | 8% | 8.7% | 8.3% | 4.9% | 6% |
| ROE | 23% | 7.8% | 11% | 18% | 20% | 16% | 17% | 16% | 4.7% | 7.4% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +4.72%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.73%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +8.03%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.62%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +15.17%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -2.13%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 01-2020 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 2.93 | 8.16 | 7.16 | 4.60 | 3.52 | 4.24 | 5.98 | 6.53 | 4.91 | 4.14 |
| Debt Equity | 1.02 | 1.08 | 0.94 | 0.97 | 0.90 | 1.26 | 1.28 | 1.28 | 1.10 | 1.09 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 100% | 100% | 100% | 100% | 29% | 29% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 4.14.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 0.35.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.29.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 12% | 8.7% | 7.9% | 7.2% | -2.2% |
| Net Income | -2.9% | -19% | -32% | -71% | -11% |
| Stockholders Equity | 4.4% | 5.2% | 3.2% | -2.2% | -9.9% |
| FCF | 13% | 6.6% | -5.9% | 12% | -1.6% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +8.65%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -2.2%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -19.29%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -11.11%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +5.16%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -9.92%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +6.63%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -1.56%.