Amentum vs Leidos
Leidos reported revenue of $17.2 billion in fiscal 2025, 1.2 times Amentum's $14.4 billion in fiscal 2025. Amentum's revenue grew 71.6% in its latest year, and Leidos' grew 3.1%. Amentum had an operating margin of 3.3%, against 12.3% at Leidos. Free cash flow was $516 million at Amentum and $1.6 billion at Leidos. Their fiscal years end in different months (October 3 and January 2), so the periods don't line up exactly.
Side by side
| Amentum | Leidos | |
|---|---|---|
| Latest fiscal year | FY2025, Oct 3, 2025 | FY2025, Jan 2, 2026 |
| Revenue | $14.4B | $17.2B |
| Revenue growth | 71.6% | 3.1% |
| Revenue growth a year, last 5 years | — | 6.9% |
| Gross margin | 10.5% | 18.0% |
| Operating margin | 3.3% | 12.3% |
| Net margin | 0.5% | 8.4% |
| Free cash flow | $516M | $1.6B |
| Free cash flow margin | 3.6% | 9.5% |
| Return on capital | 2.9% | 19.2% |
| Net debt to EBITDA | 3.5x | 1.5x |
| Dividends and buybacks | $0M | $611M |
| Change in diluted share count | 168.1% | −4.4% |
| Last close | $21.25 | $132.68 |
| P/E at the last close | 25.6× | 11.9× |
| Insider trades, last 12 months | — | sold $3.2 million |
| Piotroski F-score | 6 of 9 | 9 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
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Operating margin
Percent of revenue
AmentumLeidos
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AmentumLeidos