Leidos Holdings, Inc.

Company facts

Industry

Services-Computer Integrated Systems Design

Headquarters

Reston, Virginia

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

N/A

Filings on record

1,000+ filings

On EDGAR

CIK 1336920

Fiscal year ends

January

Filer status

Large accelerated filer

What to read: Oct 2026 10-Q

SECSift found 4 of 13 sections worth reading, with 0 positive, 14 notable, and 0 negative flags.

• Financial Statements (Item 1)

  Large acquisition and divestiture, debt issuance, and a $100M gain. Material balance sheet changes.
  Notable

  • Remaining performance obligations (RPO) of $21B as of Oct 2, 2026; 64% expected in next 12 months.
  • Acquired Entrust for $2.4B cash in March 2026, adding $1.7B goodwill and $630M intangibles.
  • Issued $600M notes due 2029 and $800M notes due 2036 to fund Entrust acquisition.
  • UK pension plan fully bought out in Feb 2026; recognized $23M settlement loss in other expense.
  • Effective tax rate dropped to 14.3% in Q3 2026 from 23.8% a year ago, due to R&D tax credit.
  • DOJ antitrust investigation ongoing; subpoena received Aug 2022 for three procurements.
  • Divested SES business in Oct 2026; expects ~$100M non-operating gain in Q4 2026.

• Management's Discussion (Item 2)

  Segment divergence, debt jump, big buyback, and a divestiture closing after period end.
  Notable

  • SES business divested on October 5, 2026; Leidos retained a 41.5% non-controlling interest. Q4 revenues will be lower.
  • Net bookings were $5.5B in Q3 2026, down from $5.9B a year ago, but total backlog rose to $49.6B from $47.7B.
  • Debt rose to $6.0B from $4.6B after issuing $1.4B in senior notes in March 2026 to fund the Entrust acquisition.
  • Stock repurchases totaled $500M in Q3 2026, up from $100M a year ago, and $766M year-to-date.

• Legal Proceedings (Item 1)

  Cross-references a note with quantified legal contingencies; reader must check that note.
  Notable

  • Section defers entirely to Note 11; no legal proceedings described here.

• Unregistered Sales and Repurchases (Item 2)

  New buyback authorization in July 2026, plus 3.6M shares repurchased in Q3 2026 at $137.44 avg.
  Notable

  • Board authorized a new 20M share repurchase program in July 2026, replacing the 2022 program with same terms.
  • Board ratified one share inadvertently purchased in excess of prior authorization on July 31, 2026.

What changed: Oct 2026 vs. Jul 2026

About 3% of LDOS's Oct 2026 10-Q is new information. 9 paragraphs were added, 118 changed, and 21 removed. Below are the most important lines SECSift identified.

• Item 1 38
• Item 2 37
• Item 4 2
• Item 6 1
• Item 5 1