Leidos

Leidos Holdings, Inc. stands as one of America's premier defense, aviation, information technology, and biomedical research companies, headquartered in Reston, Virginia. As a Fortune 500 company ranked 266 in 2024, Leidos has established itself as the largest enterprise in the federal technology sector, serving critical missions across national security and health. With fiscal year 2024 revenues reaching $16.7 billion and a market capitalization of approximately $22 billion, the company has demonstrated remarkable growth and resilience in the competitive government contracting landscape.

The company's transformation into "New Leidos" represents one of the most significant corporate restructurings in the defense industry. Following the 2013 separation from its original parent Science Applications International Corporation (SAIC), Leidos doubled in size through its 2016 merger with Lockheed Martin's Information Systems & Global Solutions (IS&GS) business—a $5 billion transaction that created a workforce of 33,000 employees and positioned the company as the defense industry's dominant IT services provider. Today, with 48,000 employees operating across approximately 50 countries, Leidos maintains an impressive backlog of $43.6 billion, signaling robust future revenue potential and strong customer confidence.

Leidos operates through four central divisions that address the most complex challenges facing government and select commercial customers. The Defense & Intelligence division provides advanced cyber operations, intelligence analysis, biometrics, and mission-critical IT solutions to military and intelligence agencies. The Civil division integrates aviation systems, secures transportation infrastructure, and modernizes IT systems for civilian government agencies. The Health division optimizes medical enterprises, secures healthcare data, and supports life science research for organizations like NASA and the Department of Health and Human Services. The Advanced Solutions division, which includes the Dynetics subsidiary acquired in 2018, focuses on hypersonics, directed energy, space systems, and advanced defense technologies. This diversified portfolio allows Leidos to serve the Department of Defense, Department of Homeland Security, Intelligence Community, and other federal agencies while maintaining select commercial market presence.

The company's commitment to innovation and employee ownership traces back to its founding philosophy established by Dr. J. Robert Beyster in 1969. This culture of entrepreneurship, combined with strategic acquisitions including the $1 billion purchase of L3Harris Technologies' Security Detection and Automation businesses in 2020 and the $305 million acquisition of Cobham Special Mission in 2023, has enabled Leidos to continuously expand its technological capabilities. With strong fiscal 2024 performance including $1.24 billion in free cash flow and net bookings of $23.4 billion representing a 1.4 book-to-bill ratio, Leidos continues to execute its NorthStar 2030 strategy focused on portfolio optimization, operational excellence, and delivering mission outcomes that make the world safer, healthier, and more efficient.