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Leidos Holdings Balance Sheet 2026-2011 | LDOS
Brief overview of Leidos Holdings's financial position
The review uses the five latest available annual reports between 2021 and 2026.
The asset base was stable: the change from $13.3 billion to $13.5 billion does not indicate a material increase in scale.
The growth rates were balanced: assets changed +1.7%, while liabilities changed -4.3%.
The equity ratio is 36.4% versus 32.8% five periods ago. Capitalization remains workable.
The net-debt-to-equity ratio is 0.74x. Borrowed funding is already a meaningful part of the structure.
The cash reserve occupies 8.2% of the balance sheet, previously 5.5%. It is one marker of short-term resilience.
Retained earnings are $4.6 billion versus $1.9 billion initially. The direction shows how results contributed to equity.
Overall assessment
Leidos Holdings's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Leidos Holdings
| 2026 | 2025 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
3.63 B | 3.33 B | 4.16 B | 3.54 B | 4.01 B | 2.32 B | - | 2.8 B | 2.72 B | 425 M | 723 M | 903 M | 562 M | 260 M | 485 M |
Long Term Debt |
4.63 B | 4.05 B | 4.66 B | 3.93 B | 4.59 B | 2.92 B | - | 3.05 B | 3.06 B | 1.08 B | 1.16 B | 1.33 B | 1.3 B | 1.3 B | 1.85 B |
Long Term Debt Current |
107 M | 123 M | 136 M | 130 M | 140 M | 132 M | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 3.62 B | - | 3.4 B | 3.42 B | 1.26 B | 1.33 B | 1.56 B | 1.46 B | 1.46 B | 1.98 B |
Total Current Liabilities |
2.83 B | 3.56 B | 2.99 B | 3.95 B | 3.23 B | 2.33 B | - | 2.06 B | 2.2 B | 2.02 B | 951 M | 1.01 B | 1.79 B | 3.02 B | 1.75 B |
Total Liabilities |
8.53 B | 8.55 B | 8.44 B | 8.72 B | 8.92 B | 5.95 B | - | 5.46 B | 5.62 B | 2.3 B | 2.28 B | 2.57 B | 3.26 B | 4.49 B | 3.73 B |
Deferred Revenue |
348 M | 333 M | 442 M | 380 M | 364 M | - | - | 276 M | 17 M | 8 M | 2 M | 103 M | 132 M | - | 119 M |
Retained Earnings |
4.65 B | 3.41 B | 2.36 B | 2.37 B | 1.88 B | 896 M | - | 372 M | -7 M | -277 M | -424 M | 25 M | 510 M | 164 M | 434 M |
Total Assets |
13.5 B | 13 B | 12.7 B | 13.1 B | 13.3 B | 9.37 B | - | 8.77 B | 8.99 B | 3.37 B | 3.28 B | 4.16 B | 5.88 B | 6.67 B | 6.22 B |
Cash and Cash Equivalents |
1.11 B | 849 M | 641 M | 516 M | 727 M | 668 M | - | 327 M | 390 M | 376 M | 443 M | 430 M | 735 M | 1.59 B | 1.37 B |
Book Value |
4.96 B | 4.46 B | 4.26 B | 4.35 B | 4.34 B | 3.41 B | - | 3.31 B | 3.37 B | 1.07 B | 998 M | 1.6 B | 2.62 B | 2.18 B | 2.49 B |
Total Shareholders Equity |
4.92 B | 4.41 B | 4.26 B | 4.35 B | 4.34 B | 3.41 B | - | 3.31 B | 3.37 B | 3.14 B | 998 M | 1.6 B | 2.62 B | 2.18 B | 2.49 B |
All numbers in USD currency
Quarterly Balance Sheet Leidos Holdings
| 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
6.01 B | 4.63 B | 4.63 B | 4.98 B | 5.01 B | 4.05 B | 4.08 B | 4.11 B | 4.64 B | 4.66 B | 4.67 B | 4.67 B | 4.68 B | 3.93 B | 3.98 B | - | 4.57 B | 4.59 B | 4.62 B | 4.64 B | 4.66 B | 2.92 B | 4.12 B | 4.15 B | 2.44 B | - | 2.94 B | 2.95 B | 2.97 B | 2.98 B | 2.98 B | 2.98 B | 2.98 B | 3.06 B | 3.06 B | 3.06 B | 3.06 B | 3.22 B | 3.22 B | 3.22 B | 3.22 B | 1.16 B | 1.14 B | 1.13 B | 1.16 B | 1.33 B | 1.23 B | 1.33 B | 1.33 B | 1.3 B | 1.33 B | 1.33 B | 1.3 B | 1.3 B | 1.3 B | 1.3 B | 1.3 B | 1.85 B | 1.3 B | 1.3 B | 1.85 B |
Total Liabilities |
10.3 B | 8.53 B | 8.59 B | 8.84 B | 8.9 B | 8.55 B | 8.67 B | 8.4 B | 8.5 B | 8.44 B | 8.55 B | 8.37 B | 8.67 B | 8.72 B | 8.96 B | - | 9.02 B | 8.92 B | 9.12 B | 8.89 B | 8.66 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
411 M | 348 M | 396 M | 274 M | 368 M | 333 M | 353 M | 296 M | 414 M | 442 M | 449 M | 305 M | 352 M | 380 M | 450 M | - | 382 M | 364 M | 413 M | 320 M | 433 M | 400 M | 578 M | 401 M | 420 M | - | 444 M | 338 M | 484 M | 276 M | 276 M | 276 M | 276 M | 293 M | - | 293 M | 293 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
4.92 B | 4.65 B | 4.38 B | 4.06 B | 3.72 B | 3.41 B | 3.18 B | 2.87 B | 2.6 B | 2.36 B | 2.19 B | 2.64 B | 2.48 B | 2.37 B | 2.24 B | - | 2.01 B | 1.88 B | 1.76 B | 1.6 B | 1.48 B | 896 M | 1.18 B | 1.06 B | 961 M | - | 764 M | 652 M | 562 M | 420 M | 420 M | 420 M | 420 M | -15 M | -15 M | -15 M | -15 M | -177 M | -177 M | -177 M | -177 M | -424 M | -380 M | -406 M | -419 M | 25 M | -453 M | -463 M | - | 510 M | 150 M | 182 M | 182 M | 164 M | 367 M | 296 M | 229 M | 408 M | 326 M | 437 M | 369 M |
Total Assets |
15.4 B | 13.5 B | 13.5 B | 13.5 B | 13.2 B | 13 B | 13.3 B | 12.9 B | 12.8 B | 12.7 B | 12.8 B | 13 B | 13.1 B | 13.1 B | 13.1 B | - | 13 B | 13.3 B | 13.3 B | 13 B | 12.6 B | 9.37 B | 12.3 B | 12.1 B | 11 B | - | 9.41 B | 9.33 B | 9.36 B | 8.77 B | 8.77 B | 8.77 B | 8.77 B | 8.99 B | 8.99 B | 8.99 B | 8.99 B | 9.13 B | 9.13 B | 9.13 B | 9.13 B | 3.28 B | 3.3 B | 3.21 B | 3.31 B | 4.16 B | 3.4 B | 3.48 B | 3.97 B | 5.88 B | 4.64 B | 5.52 B | 5.79 B | 6.67 B | 5.87 B | 5.58 B | 6.22 B | 6.22 B | 6.46 B | 6.11 B | 6.18 B |
Cash and Cash Equivalents |
457 M | 1.11 B | 974 M | 930 M | 842 M | 849 M | 1.1 B | 744 M | 547 M | 777 M | 750 M | 329 M | 379 M | 516 M | 807 M | 339 M | 297 M | 727 M | 587 M | 338 M | 377 M | 668 M | 512 M | 588 M | 445 M | - | 635 M | 660 M | 536 M | 327 M | 327 M | 327 M | 327 M | 390 M | 390 M | 390 M | 390 M | 376 M | 376 M | 376 M | 376 M | 459 M | 635 M | 365 M | 377 M | 430 M | 418 M | 358 M | 183 M | 735 M | 814 M | 462 M | 562 M | 1.59 B | 531 M | 756 M | 1.17 B | 1.37 B | 1.46 B | 1.34 B | 1.28 B |
Book Value |
5.06 B | 4.96 B | 4.95 B | 4.71 B | 4.3 B | 4.46 B | 4.67 B | 4.51 B | 4.31 B | 4.26 B | 4.2 B | 4.65 B | 4.46 B | 4.35 B | 4.14 B | - | 4.01 B | 4.34 B | 4.17 B | 4.15 B | 3.98 B | 9.37 B | 12.3 B | 12.1 B | 11 B | - | 9.41 B | 9.33 B | 9.36 B | 8.77 B | 8.77 B | 8.77 B | 8.77 B | 8.99 B | 8.99 B | 8.99 B | 8.99 B | 9.13 B | 9.13 B | 9.13 B | 9.13 B | 3.28 B | 3.3 B | 3.21 B | 3.31 B | 4.16 B | 3.4 B | 3.48 B | 3.97 B | 5.88 B | 4.64 B | 5.52 B | 5.79 B | 6.67 B | 5.87 B | 5.58 B | 6.22 B | 6.22 B | 6.46 B | 6.11 B | 6.18 B |
Total Shareholders Equity |
5.01 B | 4.92 B | 4.91 B | 4.66 B | 4.3 B | 4.41 B | 4.67 B | 4.51 B | 4.31 B | 4.2 B | 4.2 B | 4.65 B | 4.46 B | 4.3 B | 4.14 B | 4.06 B | 4.01 B | 4.29 B | 4.17 B | 4.15 B | 3.98 B | 3.41 B | 3.71 B | 3.54 B | 3.36 B | - | 3.25 B | 3.36 B | 3.29 B | 3.31 B | 3.31 B | 3.31 B | 3.31 B | 3.37 B | 3.37 B | 3.37 B | 3.37 B | 3.14 B | 3.14 B | 3.14 B | 3.14 B | 998 M | 954 M | 919 M | 1 B | 1.6 B | 976 M | 957 M | 1.4 B | 2.62 B | 1.88 B | 2.34 B | 2.3 B | 2.18 B | 2.46 B | 2.36 B | 2.27 B | 2.49 B | 2.33 B | 2.42 B | 2.4 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Leidos Holdings, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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