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LDOS (Leidos Holdings) Piotroski F-Score : 8 (As of Jul. 06, 2025)


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What is Leidos Holdings Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Leidos Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Leidos Holdings's Piotroski F-Score or its related term are showing as below:

LDOS' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Leidos Holdings was 8. The lowest was 5. And the median was 6.


Leidos Holdings Piotroski F-Score Historical Data

The historical data trend for Leidos Holdings's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Leidos Holdings Piotroski F-Score Chart

Leidos Holdings Annual Data
Trend Jan15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 6.00 8.00

Leidos Holdings Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 8.00 8.00 8.00

Competitive Comparison of Leidos Holdings's Piotroski F-Score

For the Information Technology Services subindustry, Leidos Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Leidos Holdings's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, Leidos Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Leidos Holdings's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 322 + 364 + 284 + 363 = $1,333 Mil.
Cash Flow from Operations was 324 + 656 + 299 + 58 = $1,337 Mil.
Revenue was 4132 + 4190 + 4365 + 4245 = $16,932 Mil.
Gross Profit was 705 + 762 + 693 + 757 = $2,917 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(12817 + 12909 + 13338 + 13104 + 13197) / 5 = $13073 Mil.
Total Assets at the begining of this year (Mar24) was $12,817 Mil.
Long-Term Debt & Capital Lease Obligation was $5,617 Mil.
Total Current Assets was $4,549 Mil.
Total Current Liabilities was $2,961 Mil.
Net Income was 207 + -399 + 229 + 284 = $321 Mil.

Revenue was 3838 + 3921 + 3980 + 3975 = $15,714 Mil.
Gross Profit was 567 + 587 + 595 + 638 = $2,387 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(13132 + 13026 + 12757 + 12695 + 12817) / 5 = $12885.4 Mil.
Total Assets at the begining of last year (Mar23) was $13,132 Mil.
Long-Term Debt & Capital Lease Obligation was $5,131 Mil.
Total Current Assets was $4,150 Mil.
Total Current Liabilities was $3,084 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Leidos Holdings's current Net Income (TTM) was 1,333. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Leidos Holdings's current Cash Flow from Operations (TTM) was 1,337. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=1333/12817
=0.1040025

ROA (Last Year)=Net Income/Total Assets (Mar23)
=321/13132
=0.02444411

Leidos Holdings's return on assets of this year was 0.1040025. Leidos Holdings's return on assets of last year was 0.02444411. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Leidos Holdings's current Net Income (TTM) was 1,333. Leidos Holdings's current Cash Flow from Operations (TTM) was 1,337. ==> 1,337 > 1,333 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=5617/13073
=0.42966419

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=5131/12885.4
=0.39820262

Leidos Holdings's gearing of this year was 0.42966419. Leidos Holdings's gearing of last year was 0.39820262. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=4549/2961
=1.5363053

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=4150/3084
=1.34565499

Leidos Holdings's current ratio of this year was 1.5363053. Leidos Holdings's current ratio of last year was 1.34565499. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Leidos Holdings's number of shares in issue this year was 131. Leidos Holdings's number of shares in issue last year was 137. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2917/16932
=0.17227734

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2387/15714
=0.15190276

Leidos Holdings's gross margin of this year was 0.17227734. Leidos Holdings's gross margin of last year was 0.15190276. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=16932/12817
=1.32105797

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=15714/13132
=1.19661895

Leidos Holdings's asset turnover of this year was 1.32105797. Leidos Holdings's asset turnover of last year was 1.19661895. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Leidos Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Leidos Holdings  (NYSE:LDOS) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Leidos Holdings Piotroski F-Score Related Terms

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Leidos Holdings Business Description

Address
1750 Presidents Street, Reston, VA, USA, 20190
Leidos Holdings Inc is a technology, engineering, and science company that provides services and solutions in the defense, intelligence, civil, and health markets, both domestically and internationally. Company customer includes the U.S. Department of Defense ("DoD"), the U.S. Intelligence Community, the U.S. Department of Homeland Security ("DHS"), the Federal Aviation Administration ("FAA"), the Department of Veterans Affairs ("VA"), and many other U.S. civilian, state and local government agencies, etc. The company is engaged in four reportable segments; National Security & Digital, Health & Civil, Commercial & International and Defense Systems. It provides a wide array of scientific, engineering and technical services and solutions across these reportable segments.
Executives
Gregory R Dahlberg director 11951 FREEDOM DRIVE, RESTON VA 20190
Kovarik Robert C Jr director C/O ALLIANCE BANKSHARES CORPORATION, 14200 PARK MEADOW DR #200S, CHANTILLY VA 20151
Noel B Williams director 1750 PRESIDENTS STREET, RESTON VA 20190
Roy E Stevens officer: Chief of Business Development 11951 FREEDOM DRIVE, RESTON VA 20190
Surya N Mohapatra director 3 GIRALDA FARMS, MADISON NJ 07940
Gary Stephen May director 11951 FREEDOM DRIVE, RESTON VA 20190
Thomas Arthur Bell director, officer: CEO 1750 PRESIDENTS STREET, RESTON VA 20190
Susan M Stalnecker director TWO N NINTHST, ALLENTOWN PA 18101
David G Fubini director D.G. FUBINI CONSULTANTS, LLC, 80 SEARS ROAD, BROOKLINE MA 02445
Miriam E John director 7011 EAST AVENUE, LIVERMORE CA 94550
James Robert Moos officer: Group President 11951 FREEDOM DRIVE, RESTON VA 20190
Cindy Gruensfelder officer: Executive Vice President 1750 PRESIDENTS STREET, RESTON VA 20190
Kraemer Harry M Jansen Jr director DENTSPLY SIRONA INC., 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277
Howe Jerald S Jr officer: Executive VP & General Counsel
Robert S Shapard director P O BOX 696000, SANANTONIO TX 782696000