Leidos Holdings, Inc. logo LDOS - Leidos Holdings, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 18
HOLD 9
SELL 0
STRONG
SELL 0
| PRICE TARGET: $200.80 DETAILS
HIGH: $215.00
LOW: $185.00
MEDIAN: $204.00
CONSENSUS: $200.80
UPSIDE: 59.35%
Annual Quarterly
Metric 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 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3
Revenue
Revenue 4,400 4,207 4,469 4,253 4,245 4,365 4,190 4,132 3,975 3,980 3,921 3,838 3,699 3,697 3,608 3,597 3,494 3,491 3,483 3,448 3,315 3,252 3,242 2,914 2,889 2,954 2,835 2,728 2,577 2,647 2,575 2,529 2,443 2,516 2,503 2,571 2,580 2,575 1,868 1,288 1,312 1,281 1,302 1,257 1,246 1,169 1,276 1,306 1,320 1,286 1,420 2,474 2,707 2,711 2,870 2,848 2,782 2,492 2,811 2,596 2,688 2,769 2,869 2,794 2,685 2,683 2,765 2,749 2,649 2,518 2,631 2,555 2,369 2,337 2,365 2,222 2,068 2,147 2,142 1,994 1,954 1,977 2,024
Cost of Revenue 3,639 3,533.9 3,648 3,471 3,488 3,672 3,428 3,427 3,337 3,385 3,334 3,271 3,204 3,176 3,095 3,059 2,982 2,983 2,942 2,950 2,848 2,761 2,774 2,531 2,494 2,527 2,450 2,348 2,221 2,278 2,174 2,152 2,086 2,231 2,189 2,233 2,270 2,266 1,630 1,141 1,154 1,124 1,138 1,113 1,093 1,017 1,115 1,119 1,147 1,103 1,224 2,217 2,378 2,380 2,509 2,504 2,448 2,496 2,495 2,258 2,357 2,411 2,481 2,388 2,352 2,301 2,378 2,369 2,295 2,163 2,277 2,202 2,053 2,015 2,027 1,910 1,797 1,874 1,862 1,714 1,684 1,708 1,793
Gross Profit 761 673.1 821 782 757 693 762 705 638 595 587 567 495 521 513 538 512 508 541 498 467 491 468 383 395 427 385 380 356 369 401 377 357 285 314 338 310 309 238 147 158 157 164 144 153 152 161 187 173 183 196 257 329 331 361 344 334 (4) 316 338 331 358 388 406 333 382 387 380 354 355 354 353 316 322 338 312 271 273 280 280 270 269 231
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 223 201.9 286 217 230 279 247 231 226 233 239 237 233 223 232 262 236 235 233 224 159 187 200 195 197 171 177 175 166 182 194 174 178 124 194 186 181 131 88 56 60 0 53 51 75 71 72 87 84 82 113 105 128 148 139 152 123 107 333 129 101 138 124 126 116 173 154 159 150 147 149 167 143 151 152 139 131 129 133 129 128 131 125
Other Expenses 30 0 0 (6) (3) (7) (1) (1) (3) 1 684 (1) (3) 33 0 5 5 3 3 5 0 5 10 (61) 6 (5) (41) (5) (2) (1) 4 4 20 60 22 29 25 26 49 16 9 0 17 29 40 44 17 510 0 6 87 49 16 38 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 253 201.9 286 211 227 272 246 230 223 234 923 236 230 256 232 267 241 238 236 229 159 192 210 134 203 166 136 170 164 181 198 178 198 184 216 215 206 157 137 72 69 0 70 80 115 115 89 597 84 88 200 154 144 186 139 152 123 107 333 129 101 138 124 126 116 173 154 159 150 147 149 167 143 151 152 139 131 129 133 129 128 131 125
Operating Income
Operating Income 508 471.2 535 571 530 421 516 475 415 361 (336) 331 265 265 281 271 271 270 305 269 308 299 258 249 192 261 249 210 192 188 203 199 159 101 151 166 141 152 101 75 89 102 94 64 38 37 72 (410) 89 95 (7) 75 142 145 193 191 208 (111) (17) 209 230 220 258 273 207 209 233 221 204 208 205 186 173 171 186 173 140 144 144 151 142 138 106
Interest Expense 55 48 51 55 49 47 46 51 49 49 53 56 54 51 50 50 48 46 47 46 45 46 44 41 48 34 28 33 38 34 35 35 34 38 36 36 38 39 28 13 11 12 14 14 14 17 18 20 20 24 21 19 20 20 20 24 29 29 29 28 28 23 19 19 18 19 19 19 19 27 45 4 0 14 12 0 8 8 0 0 0 4 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 1 2 2 2 3 0 0 0 0 0 0 0 0 1 0 0 5 6 4 3 2 2 2 2 2 0 1 1 0 1 0 0 1 0 1 2 4 6 0 14 14 0 14 82 0 0 0 0 0
Profitability
EBITDA 532 556 609 645 596 501 587 548 486 442 (253) 414 343 353 352 358 355 350 394 349 384 362 340 304 239 335 301 269 342 255 269 266 222 168 243 249 226 212 140 84 97 0 105 78 49 53 88 (395) 107 99 15 41 107 176 120 224 239 (79) 11 237 263 249 288 298 230 235 260 243 230 232 225 208 196 194 208 191 157 163 160 170 157 160 106
EBIT 532 471.2 535 573 527 422 516 477 417 359 (335) 330 261 269 271 275 270 269 307 269 307 294 258 233 178 275 242 212 284 191 205 200 159 71 151 169 144 144 103 75 89 181 94 66 37 41 72 (411) 89 84 2 16 81 148 103 195 212 (107) (20) 210 235 218 259 271 206 210 236 221 208 208 205 186 173 171 186 173 140 144 141 151 142 138 106
Income Before Tax 429 423.2 484 518 478 375 470 426 368 310 (388) 274 207 218 221 225 222 222 260 223 262 245 214 192 130 227 214 179 246 150 170 165 125 34 116 135 108 105 75 60 78 173 80 52 23 24 54 (430) 71 60 (21) 62 127 128 177 173 183 (136) (46) 182 207 195 246 253 189 191 217 202 189 181 174 174 170 163 178 159 129 138 155 160 147 130 111
Income Tax Expense 94 88.2 115 125 113 93 108 102 85 80 8 64 43 38 57 53 45 46 52 53 57 48 51 38 15 46 52 41 57 (38) 23 20 23 (79) 37 37 34 45 (17) 19 29 46 31 15 0 (2) 16 9 25 5 (12) 18 46 (58) 65 63 66 24 44 70 77 63 92 95 64 68 82 77 72 62 56 70 66 60 69 60 52 53 65 60 54 (6) 40
Net Income 328 335 367 391 363 284 364 322 284 229 (399) 207 162 177 162 171 175 174 205 169 205 197 163 153 115 181 161 136 189 188 147 144 102 114 82 98 72 59 91 41 49 127 49 37 41 44 34 (438) 37 44 (3) 42 81 186 112 110 117 (161) (89) 178 131 132 173 190 125 123 135 123 116 120 120 109 100 99 105 131 80 84 98 103 106 154 91
Per Share Data
EPS (Basic) 2.60 2.53 2.87 3.03 2.79 2.14 2.72 2.39 2.09 1.67 -2.91 1.51 1.18 1.29 1.18 1.25 1.26 1.24 1.45 1.20 1.44 1.39 1.15 1.08 0.81 1.27 1.13 0.94 1.30 1.27 0.97 0.95 0.67 0.75 0.54 0.65 0.48 0.39 0.81 0.56 0.68 1.76 0.68 0.51 0.56 0.60 0.47 -5.92 0.48 0.55 -0.04 0.48 0.92 2.16 1.32 1.28 1.40 -1.96 -1.08 2.04 1.48 1.52 1.84 2.00 1.28 1.31 1.36 1.24 1.16 1.22 1.24 1.12 1.00 0.99 1.04 1.28 0.80 0.83 1.16 1.24 1.28 1.78 1.04
EPS (Diluted) 2.56 2.53 2.82 3.01 2.77 2.12 2.68 2.37 2.07 1.66 -2.91 1.50 1.17 1.28 1.17 1.24 1.25 1.23 1.43 1.18 1.42 1.37 1.13 1.06 0.80 1.26 1.11 0.93 1.29 1.25 0.96 0.94 0.66 0.74 0.53 0.64 0.47 0.39 0.80 0.55 0.66 1.72 0.67 0.50 0.55 0.59 0.46 -5.92 0.47 0.55 -0.04 0.48 0.92 2.16 1.32 1.28 1.40 -1.95 -1.08 2.00 1.44 1.52 1.84 2.00 1.28 1.31 1.36 1.24 1.12 1.22 1.20 1.08 0.96 0.99 1.00 1.24 0.76 0.83 1.12 1.20 1.24 1.78 1.00
Shares Outstanding 126 132.4 127.9 129 130 133 134 135 136 137 137 137 137 137 137 137 139 140 141 141 142 142 142 142 142 142 143 144 145 148 151 152 152 152 152 151 150 150 112 73 72 72 72 73 73 73 73 74 77 80 80 84.2 84 83.5 83.0 83.2 82.5 82.2 82.1 84.5 86.8 86.8 89.8 90.8 93.8 93.8 96 96 98 98 98 98 100.5 100.5 100.5 101.2 101 101 84 82.8 84 85.5 86.5
Metric 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 2010 Q2 2010 Q1 2009 Q4 2009 Q2 2009 Q1 2007 Q3
Current Assets
Cash & Cash Equivalents 457 1,204 974 930 842 943 1,185 823 633 777 750 329 379 516 807 339 297 727 587 338 377 524 512 588 445 668 635 660 536 327 515 303 215 390 287 262 206 376 449 670 609 604 568 861 951 898 1,011
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 3,028 2,708 2,970 2,915 2,906 2,645 2,706 2,615 2,713 2,429 2,452 2,478 2,518 2,350 2,284 2,423 2,419 2,189 2,288 2,271 2,160 2,137 1,872 1,789 1,793 1,734 1,775 1,842 1,894 1,877 1,812 1,779 1,914 1,831 1,797 1,832 1,841 1,668 1,677 924 874 2,032 2,073 2,044 1,964 2,016 1,844
Inventory 336 342 360 364 347 315 323 333 318 310 295 310 300 287 286 286 279 274 268 251 268 276 292 294 0 72 0 0 0 0 456 458 506 76 487 340 348 67 430 223 225 320 306 125 327 346 217
Other Current Assets 582 560 545 572 454 525 451 458 486 489 494 459 468 490 464 478 492 429 426 403 452 402 523 381 630 338 514 412 430 635 98 99 0 233 0 0 0 175 0 0 95 0 0 108 0 0 0
Total Current Assets 4,403 4,814 4,849 4,781 4,549 4,428 4,665 4,229 4,150 4,005 3,991 3,576 3,665 3,643 3,841 3,526 3,487 3,619 3,569 3,263 3,257 3,339 3,199 3,052 2,868 2,812 2,924 2,914 2,860 2,839 2,881 2,639 2,635 2,674 2,571 2,434 2,395 2,381 2,556 1,817 1,803 2,956 2,947 3,193 3,242 3,260 3,072
Non-Current Assets
Property, Plant & Equipment 966 1,487 1,475 1,508 1,518 1,551 1,451 1,464 1,465 1,473 1,447 1,462 1,463 1,392 1,264 1,283 1,274 1,282 1,300 1,288 1,239 1,185 1,158 1,128 1,029 687 622 599 626 237 230 221 227 232 212 215 238 259 231 131 136 382 398 389 385 357 402
Goodwill 8,094 6,342 6,342 6,359 6,098 6,084 6,123 6,102 6,099 6,112 6,079 6,701 6,703 6,696 6,618 6,673 6,742 6,744 6,650 6,707 6,456 6,313 6,158 6,266 5,719 4,912 4,889 4,861 4,871 4,860 4,881 4,887 4,976 4,974 4,976 4,922 4,619 4,622 4,874 1,228 1,231 1,548 1,548 1,434 1,260 1,252 1,081
Intangible Assets 993 458 496 515 489 517 558 592 629 667 713 851 902 952 977 1,038 1,109 1,177 1,321 1,329 1,234 1,216 1,335 1,260 950 530 571 571 613 652 702 749 806 856 925 1,006 1,520 1,589 1,643 0 0 130 139 106 75 79 111
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 18 0 0 0 25 0 0 0 15 0 0 0 19 0 0 0 26 0 0 0 37 0 0 0 68 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 896 344 348 386 543 321 541 522 474 336 527 436 399 342 399 367 418 414 441 448 452 443 435 437 422 407 404 382 390 156 214 274 269 217 239 292 353 197 260 218 214 71 72 70 59 50 101
Total Non-Current Assets 10,984 8,679 8,693 8,768 8,648 8,676 8,673 8,680 8,667 8,690 8,766 9,450 9,467 9,428 9,258 9,361 9,543 9,642 9,712 9,772 9,381 9,172 9,086 9,091 8,120 6,555 6,486 6,413 6,500 5,931 6,027 6,131 6,278 6,316 6,352 6,448 6,745 6,751 7,023 1,584 1,588 2,218 2,243 2,102 1,862 1,822 1,758
Total Assets 15,387 13,493 13,542 13,549 13,197 13,104 13,338 12,909 12,817 12,695 12,757 13,026 13,132 13,071 13,099 12,887 13,030 13,261 13,281 13,035 12,638 12,511 12,285 12,143 10,988 9,367 9,410 9,327 9,360 8,770 8,908 8,770 8,913 8,990 8,923 8,882 9,140 9,132 9,579 3,401 3,391 5,174 5,190 5,295 5,104 5,082 4,830
Current Liabilities
Account Payables 2,145 627 2,158 2,003 2,178 705 2,287 2,235 2,301 736 1,772 1,665 1,758 733 2,301 2,052 2,214 692 2,142 1,944 2,133 731 2,279 2,034 1,966 592 2,004 1,710 1,893 547 1,590 1,461 1,622 557 1,500 1,330 592 591 1,458 720 707 1,118 1,131 511 0 1,238 1,108
Short-Term Debt 320 127 19 119 119 618 592 567 43 18 18 219 339 992 1,027 1,153 556 483 484 481 103 100 401 854 1,793 61 77 65 66 72 56 71 81 55 64 84 84 62 42 1 2 3 3 3 3 2 139
Deferred Revenue 0 348 0 0 0 333 0 0 414 442 449 305 352 380 0 0 0 364 0 0 0 481 0 0 0 400 0 0 0 276 0 0 0 293 0 0 0 246 0 0 0 0 0 155 0 0 0
Other Current Liabilities 0 906 0 0 0 0 0 0 (414) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 23 24 22 0 0 0 0 0 125 0 0 80 0 0 0 0 0 32
Total Current Liabilities 3,152 2,827 2,986 2,948 2,961 3,654 3,782 3,505 3,084 2,990 3,040 2,855 3,161 3,947 4,141 3,906 3,494 3,229 3,347 3,108 2,920 2,907 3,398 3,429 4,290 2,333 2,527 2,246 2,322 2,059 2,093 2,015 2,103 2,202 2,021 1,910 1,983 2,016 1,980 990 1,005 1,619 1,692 1,706 1,653 1,767 1,785
Non-Current Liabilities
Long-Term Debt 6,014 5,215 4,632 4,985 5,014 4,052 4,081 4,109 4,636 4,664 4,667 4,670 4,675 3,928 3,975 4,023 4,569 4,593 4,616 4,639 4,663 4,644 4,125 4,148 2,444 2,925 2,939 2,954 2,966 3,052 2,985 2,990 3,007 3,056 3,043 3,147 3,188 3,225 3,428 1,092 1,089 1,102 1,103 1,103 1,103 1,102 1,099
Deferred Tax Liabilities 280 221 122 0 0 0 0 0 0 3 6 16 14 40 24 89 182 239 254 255 243 234 216 194 176 184 196 185 194 170 232 211 221 220 337 362 564 540 867 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 267 (325) 270 311 317 317 341 299 289 264 291 253 256 233 229 198 195 267 283 285 275 291 282 296 219 182 203 295 276 178 141 136 148 79 215 222 217 147 174 195 195 173 187 195 192 187 155
Total Non-Current Liabilities 7,171 5,704 5,602 5,894 5,934 4,990 4,889 4,894 5,420 5,447 5,514 5,518 5,507 4,771 4,819 4,924 5,528 5,688 5,768 5,779 5,738 5,733 5,172 5,167 3,339 3,617 3,633 3,719 3,741 3,400 3,358 3,337 3,376 3,405 3,595 3,731 3,969 3,969 4,469 1,287 1,284 1,275 1,290 1,298 1,295 1,289 1,254
Total Liabilities 10,323 8,531 8,588 8,842 8,895 8,644 8,671 8,399 8,504 8,437 8,554 8,373 8,668 8,718 8,960 8,830 9,022 8,917 9,115 8,887 8,658 8,640 8,570 8,596 7,629 5,950 6,160 5,965 6,063 5,459 5,451 5,352 5,479 5,607 5,616 5,641 5,952 5,985 6,449 2,277 2,289 2,894 2,982 3,004 2,948 3,056 3,039
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings 4,921 4,647 4,375 4,061 3,721 3,410 3,179 2,866 2,595 2,364 2,186 2,636 2,479 2,367 2,239 2,128 2,007 1,880 1,758 1,605 1,484 1,328 1,180 1,065 961 896 764 652 562 372 231 133 37 (7) (72) (105) (154) (177) (188) (230) (251) 241 156 239 173 85 48
Accumulated Other Comprehensive Income (25) (50) (54) (49) (83) (110) (34) (65) (72) (48) (95) (63) (64) (73) (135) (79) 20 (12) (40) (15) (37) (46) (98) (127) (185) (70) (108) (73) (35) (30) 13 23 56 33 31 8 8 (4) (6) (4) (6) (38) (38) (44) (42) (43) (24)
Total Stockholders' Equity 5,013 4,916 4,909 4,662 4,257 4,412 4,614 4,455 4,258 4,201 4,146 4,597 4,409 4,299 4,086 4,004 3,955 4,291 4,115 4,099 3,933 3,862 3,706 3,538 3,355 3,413 3,246 3,359 3,294 3,308 3,454 3,416 3,431 3,370 3,294 3,224 3,177 3,135 3,116 1,124 1,102 2,280 2,208 2,291 2,156 2,026 1,791
Total Liabilities & Equity 15,387 13,493 13,542 13,549 13,197 13,104 13,338 12,909 12,817 12,695 12,757 13,026 13,132 13,071 13,099 12,887 13,030 13,261 13,281 13,035 12,638 12,511 12,285 12,143 10,988 9,367 9,410 9,327 9,360 8,770 8,908 8,770 8,913 8,990 8,923 8,882 9,140 9,132 9,579 3,401 3,391 5,174 5,190 5,295 5,104 5,082 4,830
Debt Metrics
Total Debt 6,944 5,929 5,229 5,702 5,736 5,291 5,140 5,162 5,174 5,198 5,212 5,442 5,576 5,490 5,593 5,790 5,707 5,665 5,715 5,720 5,323 5,308 5,075 5,531 4,737 3,312 3,311 3,304 3,337 3,124 3,041 3,061 3,088 3,144 3,107 3,231 3,272 3,324 3,470 1,093 1,091 1,105 1,106 1,106 1,106 1,104 1,238
Net Debt 6,487 4,725 4,255 4,772 4,894 4,348 3,955 4,339 4,541 4,421 4,462 5,113 5,197 4,974 4,786 5,451 5,410 4,938 5,128 5,382 4,946 4,784 4,563 4,943 4,292 2,644 2,676 2,644 2,801 2,797 2,526 2,758 2,873 2,754 2,820 2,969 3,066 2,948 3,021 423 482 501 538 245 155 206 227
Metric 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
Operating Activities
Net Income 335 327 367 393 365 282 364 322 283 230 (396) 210 164 180 164 172 177 176 208 170 205 197 163 154 115 181 162 138 189 188 147 145 102 113 79 98 74 60 92 41 49
Depreciation & Amortization 72 75 74 72 69 79 71 71 69 83 82 84 82 84 81 83 85 81 87 80 77 68 82 71 61 60 59 57 58 64 64 66 63 82 92 80 82 68 37 9 8
Stock-Based Compensation 25 23 26 25 21 26 19 20 20 20 20 19 18 20 18 19 16 18 17 17 15 17 15 15 15 14 13 13 12 11 10 12 11 11 12 10 10 10 9 8 8
Change in Working Capital (156) (26) 147 (229) (372) (130) 224 (7) (278) (115) 487 (105) (324) (231) 553 (162) (128) (40) 249 (250) (50) (337) 329 160 151 (78) 96 (23) 114 (160) 143 45 (168) (86) 78 (36) (256) 18 87 19 (81)
Other Non-Cash Items 33 15 9 1 (1) 44 7 10 (6) 3 706 1 5 42 17 3 4 5 3 (3) (8) 5 4 25 28 (26) 4 1 3 (2) 7 3 7 9 8 20 2 2 45 (5) (2)
Operating Cash Flow 301 495 711 486 58 299 656 374 63 304 795 164 (98) 105 748 40 93 210 565 17 239 (52) 592 422 372 169 349 186 288 104 371 271 22 164 268 177 (88) 162 270 72 (18)
Investing Activities
Capital Expenditure (31) (43) (31) (29) (22) (86) 40 (23) (17) (78) (50) (40) (39) (53) (27) (21) (28) (33) (24) (21) (26) (63) (30) (46) (44) (54) (21) (16) (30) (20) (25) (13) (15) (39) (19) (16) (7) (9) (13) (3) (4)
Acquisitions (2,338) (8) (7) (285) 0 0 (2) 2 0 2 (2) (4) 0 (190) 0 6 7 0 (29) (375) (218) (45) 0 (968) (1,642) (5) (82) 0 171 0 0 0 (81) 0 0 0 0 0 25 23 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 10 2 2 0 0 0 (61) 0 5 0 0 0 0 (15) 1 7 0 (4) 0 0 0 7 15 0 1 5 1 0 96 0 40 0 0 1 0 7 2 1 4 (1) 2
Investing Cash Flow (2,359) (49) (36) (314) (22) (86) (23) (21) (12) (76) (52) (44) (39) (258) (26) (8) (21) (37) (53) (396) (244) (101) (15) (1,014) (1,685) (54) (102) (16) 237 (20) 15 (13) (96) (38) (19) (9) (5) (8) 16 19 (2)
Financing Activities
Net Debt Issuance 1,692 (5) (455) (30) 468 (4) (5) (5) (4) (4) (205) (125) 32 (86) (175) 48 48 (26) (27) 353 (26) 224 (477) 774 1,248 (30) (2) (17) (31) 0 (15) (27) (17) (15) (125) (47) (22) (175) (100) (1) (1)
Stock Repurchased (243) (305) (102) (9) (528) (406) (203) (114) (183) (202) (1) 0 (43) (10) (4) (2) (526) (4) (140) (3) (123) (70) (1) (2) (32) (28) (203) (5) (222) (256) (66) (94) (22) (5) (1) (19) (6) (4) (1) (10) (9)
Dividends Paid (55) (55) (51) (52) (53) (53) (51) (51) (53) (51) (50) (50) (50) (50) (49) (49) (51) (50) (51) (48) (50) (48) (49) (48) (51) (97) 0 (47) (54) (47) (48) (51) (52) (48) (48) (52) (50) (48) (1,041) (23) (23)
Other Financing Activities (17) 9 (3) (8) (12) (4) 0 (2) (1) (1) (5) (2) (8) (2) (2) (1) (2) 0 (1) 1 38 (17) 0 (23) (12) 0 0 0 0 12 (10) (24) (4) 0 (4) 0 0 0 660 (2) 6
Financing Cash Flow 1,393 (341) (595) (83) (110) (440) (257) (159) (228) (245) (249) (164) (57) (135) (217) 6 (519) (69) (209) 313 (148) 98 (517) 709 1,161 (144) (204) (64) (297) (290) (134) (192) (91) (65) (175) (112) (77) (227) (463) (30) (27)
Cash Position
Net Change in Cash (666) 107 (46) 96 (160) (242) 385 194 (181) (11) 491 (43) (192) (288) 505 38 (447) 104 303 (66) (153) (55) 60 117 (152) (29) 43 106 228 (206) 252 66 (165) 61 74 262 (170) (73) (160) 61 (47)
Cash at Beginning 1,204 1,097 1,020 924 1,084 1,326 941 747 928 939 448 491 683 971 466 428 875 771 468 534 687 742 682 565 717 746 703 597 369 575 323 257 422 361 287 0 396 510 670 609 656
Cash at End 538 1,204 974 1,020 924 1,084 1,326 941 747 928 939 448 491 683 971 466 428 875 771 468 534 687 742 682 565 717 746 703 597 369 575 323 257 422 361 262 242 396 510 670 609
Free Cash Flow 270 452 680 457 36 213 696 351 46 226 745 124 (137) 52 721 19 65 177 541 (4) 213 (115) 562 376 328 115 328 170 258 84 346 258 7 125 249 161 (95) 153 213 69 (22)
Key Metrics 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 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3
Income Statement
Revenue 4,400 4,207 4,469 4,253 4,245 4,365 4,190 4,132 3,975 3,980 3,921 3,838 3,699 3,697 3,608 3,597 3,494 3,491 3,483 3,448 3,315 3,252 3,242 2,914 2,889 2,954 2,835 2,728 2,577 2,647 2,575 2,529 2,443 2,516 2,503 2,571 2,580 2,575 1,868 1,288 1,312 1,281 1,302 1,257 1,246 1,169 1,276 1,306 1,320 1,286 1,420 2,474 2,707 2,711 2,870 2,848 2,782 2,492 2,811 2,596 2,688 2,769 2,869 2,794 2,685 2,683 2,765 2,749 2,649 2,518 2,631 2,555 2,369 2,337 2,365 2,222 2,068 2,147 2,142 1,994 1,954 1,977 2,024
Gross Profit 761 673.1 821 782 757 693 762 705 638 595 587 567 495 521 513 538 512 508 541 498 467 491 468 383 395 427 385 380 356 369 401 377 357 285 314 338 310 309 238 147 158 157 164 144 153 152 161 187 173 183 196 257 329 331 361 344 334 (4) 316 338 331 358 388 406 333 382 387 380 354 355 354 353 316 322 338 312 271 273 280 280 270 269 231
Operating Income 508 471.2 535 571 530 421 516 475 415 361 (336) 331 265 265 281 271 271 270 305 269 308 299 258 249 192 261 249 210 192 188 203 199 159 101 151 166 141 152 101 75 89 102 94 64 38 37 72 (410) 89 95 (7) 75 142 145 193 191 208 (111) (17) 209 230 220 258 273 207 209 233 221 204 208 205 186 173 171 186 173 140 144 144 151 142 138 106
Net Income 328 335 367 391 363 284 364 322 284 229 (399) 207 162 177 162 171 175 174 205 169 205 197 163 153 115 181 161 136 189 188 147 144 102 114 82 98 72 59 91 41 49 127 49 37 41 44 34 (438) 37 44 (3) 42 81 186 112 110 117 (161) (89) 178 131 132 173 190 125 123 135 123 116 120 120 109 100 99 105 131 80 84 98 103 106 154 91
EPS (Diluted) 2.56 2.53 2.82 3.01 2.77 2.12 2.68 2.37 2.07 1.66 -2.91 1.50 1.17 1.28 1.17 1.24 1.25 1.23 1.43 1.18 1.42 1.37 1.13 1.06 0.80 1.26 1.11 0.93 1.29 1.25 0.96 0.94 0.66 0.74 0.53 0.64 0.47 0.39 0.80 0.55 0.66 1.72 0.67 0.50 0.55 0.59 0.46 -5.92 0.47 0.55 -0.04 0.48 0.92 2.16 1.32 1.28 1.40 -1.95 -1.08 2.00 1.44 1.52 1.84 2.00 1.28 1.31 1.36 1.24 1.12 1.22 1.20 1.08 0.96 0.99 1.00 1.24 0.76 0.83 1.12 1.20 1.24 1.78 1.00
Balance Sheet
Cash & Equivalents 457 1,204 974 930 842 943 1,185 823 633 777 750 329 379 516 807 339 297 727 587 338 377 524 512 588 445 668 635 660 536 327 515 303 215 390 287 262 206 376 449 670 609 604 568 861 951 898 1,011
Total Assets 15,387 13,493 13,542 13,549 13,197 13,104 13,338 12,909 12,817 12,695 12,757 13,026 13,132 13,071 13,099 12,887 13,030 13,261 13,281 13,035 12,638 12,511 12,285 12,143 10,988 9,367 9,410 9,327 9,360 8,770 8,908 8,770 8,913 8,990 8,923 8,882 9,140 9,132 9,579 3,401 3,391 5,174 5,190 5,295 5,104 5,082 4,830
Total Debt 6,944 5,929 5,229 5,702 5,736 5,291 5,140 5,162 5,174 5,198 5,212 5,442 5,576 5,490 5,593 5,790 5,707 5,665 5,715 5,720 5,323 5,308 5,075 5,531 4,737 3,312 3,311 3,304 3,337 3,124 3,041 3,061 3,088 3,144 3,107 3,231 3,272 3,324 3,470 1,093 1,091 1,105 1,106 1,106 1,106 1,104 1,238
Stockholders' Equity 5,013 4,916 4,909 4,662 4,257 4,412 4,614 4,455 4,258 4,201 4,146 4,597 4,409 4,299 4,086 4,004 3,955 4,291 4,115 4,099 3,933 3,862 3,706 3,538 3,355 3,413 3,246 3,359 3,294 3,308 3,454 3,416 3,431 3,370 3,294 3,224 3,177 3,135 3,116 1,124 1,102 2,280 2,208 2,291 2,156 2,026 1,791
Cash Flow
Operating Cash Flow 301 495 711 486 58 299 656 374 63 304 795 164 (98) 105 748 40 93 210 565 17 239 (52) 592 422 372 169 349 186 288 104 371 271 22 164 268 177 (88) 162 270 72 (18)
Capital Expenditure (31) (43) (31) (29) (22) (86) 40 (23) (17) (78) (50) (40) (39) (53) (27) (21) (28) (33) (24) (21) (26) (63) (30) (46) (44) (54) (21) (16) (30) (20) (25) (13) (15) (39) (19) (16) (7) (9) (13) (3) (4)
Free Cash Flow 270 452 680 457 36 213 696 351 46 226 745 124 (137) 52 721 19 65 177 541 (4) 213 (115) 562 376 328 115 328 170 258 84 346 258 7 125 249 161 (95) 153 213 69 (22)