Leidos Holdings
27 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
U.S. government
earns from · 87% of revenuesnamed as a riskOur revenues from contracts with the U.S. government (including all branches of the U.S. military), either as a prime contractor or a subcontractor to other contractors engaged in work for the U.S. government, generated approximately 87% of our total revenue in fiscal 2025, 2024 and 2023.Risk factors (Item 1A)
Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more
U.S. Department of War (DoW) and U.S. Intelligence Community
earns from · approximately 49% of our total revenuesnamed as a riskRevenues under contracts with the DoW and U.S. Intelligence Community, either as a prime contractor or subcontractor to other contractors, represented approximately 49% of our total revenues for fiscal 2025 and 2023, and 48% of our total revenues for fiscal 2024.Risk factors (Item 1A)
U.S. Department of Energy (DoE) Hanford Site
operates innamed as a riskFor example, we provide infrastructure and site services necessary to accomplish critical waste management and the continued environmental cleanup of the Hanford Site in southeastern Washington.Risk factors (Item 1A)
Federal Aviation Administration (FAA)
earns fromLeidos is a trusted systems developer, service provider and integrator for air navigation service providers around the world, including the FAA.Business (Item 1)
Also named by ACHR, AIR, ALK, AMT, AVAV, BA, BRK/B, CCI and 27 more
U.S. Department of Veterans Affairs (VA)
earns fromWe deploy a national footprint of health clinics and health providers to support care delivery services, including medical disability and behavioral health examinations for the VA, as well as serving other independent medical exam markets.Business (Item 1)
UK Ministry of Defence
earns fromOur consolidated revenues are largely attributable to prime contracts or to subcontracts with other contractors engaged in work for the U.S. government, with the remaining attributable to international customers, including the UK Ministry of Defence, the Australian Department of Defence, NATO and customers across a variety of commercial markets.Business (Item 1)
Australian Department of Defence
earns fromOur consolidated revenues are largely attributable to prime contracts or to subcontracts with other contractors engaged in work for the U.S. government, with the remaining attributable to international customers, including the UK Ministry of Defence, the Australian Department of Defence, NATO and customers across a variety of commercial markets.Business (Item 1)
Other companies
Security Enterprise Solutions (SES) reporting unit goodwill
$596 millionnamed as a riskAccordingly, we recognized a non-cash goodwill impairment charge of $596 million in fiscal 2023.Risk factors (Item 1A)
Competitors
Booz Allen Hamilton Inc.
competes withOur principal competitors currently include the following companies: Accenture Federal Services LLC, Amentum Services Inc., KBR, Inc., BAE Systems, Booz Allen Hamilton Inc., CACI International Inc., Deloitte, General Dynamics Corporation, GovCIO, IBM, KBR Inc., L3Harris Technologies, Inc., Lockheed Martin Corporation, ManTech, Northrop Grumman Corporation, Optum, Parsons Corporation, Peraton Inc., RTX Corporation and SAIC.Business (Item 1)
Places
International operations (United Kingdom and Australia)
earns from · approximately 8% of our total revenuenamed as a riskDuring fiscal 2025, revenue attributable to our services provided outside of the United States to non-U.S. customers was approximately 8% of our total revenue.Risk factors (Item 1A)
Also named by APG, AXP, CARR, COP, COST, DD, ECL, EQIX and 14 more
Hazards
Russia-Ukraine conflict
named as a riskThese potential sanctions and export controls, as well as any responses from Russia, could adversely affect us and/or our supply chain, business partners, or customers.Risk factors (Item 1A)
Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FDX and 14 more
Alabama, Florida, California and Texas natural disasters
concentrated innamed as a riskWe have significant operations, including infrastructure, information technology systems, research facilities, and centers of excellence, located in regions that may be exposed to physical risks, such as hurricanes, earthquakes, other damaging storms, water levels, wildfires and other natural disasters, including places such as Alabama, Florida, California, and Texas.Risk factors (Item 1A)
Commodities and inputs
SOFR
exposed to its price · $500 millionAs of January 2, 2026, and January 3, 2025, we had $4.6 billion and $4.7 billion of debt, respectively, which included $500 million related to our senior unsecured term loans that have a variable stated interest rate that is determined based on the Secured Overnight Financing Rate (“SOFR”) plus a margin.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
British pound and Australian dollar
exposed to its pricenamed as a riskWe conduct our business in various currencies, including the U.S. dollar, the British pound and the Australian dollar.Risk factors (Item 1A)
Regulators
Defense Contract Audit Agency (DCAA)
subject tonamed as a riskAs of January 2, 2026, indirect cost audits by the DCAA remain open for fiscal 2023 and subsequent fiscal years.Risk factors (Item 1A)
Also named by ACN, BA, CACI, CDRE, FLR, HII, KTOS, LMT and 6 more
Defense Contract Management Agency (DCMA)
subject tonamed as a riskA finding of material weakness in our business system audits or other reviews can result in the suspension of payments or lower billing rates to our U.S. government customers until the material weakness is corrected and the DCMA accepts our remediations.Risk factors (Item 1A)
Laws and programs
Small Business Administration set-aside program
subject to · maximum of 49% of the work as a subcontractornamed as a riskAs a result, we would not be eligible to perform as a prime contractor on those programs and would be restricted to a maximum of 49% of the work as a subcontractor on those programs.Risk factors (Item 1A)
Also named by KTOS
Firm-fixed-price contracts
approximately 43% of our total revenuesnamed as a riskRevenues from FFP contracts represented approximately 43% of our total revenues for fiscal 2025.Risk factors (Item 1A)
U.S. Foreign Corrupt Practices Act (FCPA)
subject tonamed as a riskViolations of any of these laws or regulations, including the FCPA and the U.K. Bribery Act, may result in whistleblower complaints, negative media coverage, investigations, imposition of significant legal fees, loss of export privileges, as well as severe criminal or civil sanctions, including suspension or debarment from U.S. government contracting.Risk factors (Item 1A)
Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more
International Traffic in Arms Regulations (ITAR)
subject tonamed as a riskThe International Trade in Arms Regulation (“ITAR”), which governs the manufacture, export, and temporary import of defense articles, the furnishing of defense services, and brokering activities involving items described on the U.S. munitions list;Business (Item 1)
Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more
Cybersecurity Maturity Model Certification (CMMC)
subject tonamed as a riskTo the extent we are unable to achieve or maintain certification at the level required for a particular contract award, we will be unable to bid on such contract awards or follow-on awards for existing work with the DoW, which could adversely impact our revenue and our profitability.Risk factors (Item 1A)
Also named by ADI, AVAV, BWXT, GE, HEI, HLIO, HON, HWM and 15 more
Federal Acquisition Regulation (FAR) and DFARS
subject tonamed as a riskthe FAR and supplements, including the DoW Federal Acquisition Regulation Supplement (“DFARS”), which regulate the formation, administration and performance of U.S. government contracts;Business (Item 1)
Also named by WCC
Executive Order "Prioritizing the Warfighter in Defense Contracting"
subject tonamed as a riskIn addition, as a result of the recent executive order titled "Prioritizing the Warfighter in Defense Contracting,” future contracts (including renewals) are expected to include provisions restricting stock buybacks and dividends during any period of underperformance.Risk factors (Item 1A)
Executive Order 14275 (FAR overhaul)
subject tonamed as a riskIn addition, proposed comprehensive reforms to the Federal Acquisition Regulations, including those contemplated under Executive Order 14275, “Restoring Common Sense to Federal Procurement,” issued on April 15, 2025, could create uncertainty in our contracting environment and impact our business.Risk factors (Item 1A)
Budget Control Act of 2011 / Fiscal Responsibility Act of 2023
subject tonamed as a riskThe budget environment, including budget caps mandated by the Budget Control Act of 2011 (the “BCA”) for fiscal years 2022 and 2023, which were reinstituted with established budget caps for 2024 and 2025 under The Fiscal Responsibility Act of 2023, and uncertainty surrounding the debt ceiling and the appropriations process, remain significant short and long-term risks for the Company.Risk factors (Item 1A)
Federal Clean Air Act / Clean Water Act
subject tonamed as a riskIf we are found to be in violation of the Federal Clean Air Act or the Clean Water Act, the facility or facilities involved in the violation could be placed by the Environmental Protection Agency on a list of facilities that generally cannot be used in performing on U.S. government contracts until the violation is corrected.Risk factors (Item 1A)