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Evergreen Compounders长期复利公司

Leidos Holdings, Inc.

LDOS 8

Information Technology Services · 16.4B market cap · site

Price and target zones价格与目标区间

In the buy zone在买入区间内

$130.60
$115–135 entry买入$183.45+ trim减仓 · 14× fwd52wk52周 $99–$206-37% off the high距高点

What the company does公司做什么

Leidos is a US company that builds and runs computer systems for the government. Its main customers are the US military, US spy agencies, and health agencies. It does not sell off-the-shelf products. Instead, it wins long contracts, often for many years, to build, run, and guard large computer systems for these customers.Leidos是一家为政府建设和运行计算机系统的美国公司。它的主要客户是美国军方、美国情报机构和卫生机构。它不卖现成的产品,而是靠赢得长期合同——往往一签就是很多年——来为这些客户建设、运行和守卫大型计算机系统。

Earns from营收来源 the government signs a multi-year contract, then pays Leidos on a regular schedule as it builds, runs, or protects a computer system.政府签一份多年合同,然后在Leidos建设、运行或保护一套计算机系统的过程中按固定时间表付款。

Read the full description查看完整介绍

Leidos Holdings, Inc., together with its subsidiaries, provides services and solutions for government and commercial customers in the United States and internationally. The National Security & Digital segment provides national security software; services by using artificial intelligence and machine learning to coordinate sea, ground, air, and space to help warfighters; offensive, defensive, and physical cyber operation solutions; intelligence analysis, operational support, logistics operations, security, linguistics, force production, biometrics, chemical, biological, radiological, nuclear, and explosives, energetics, training, and other services; and Digital Modernization and transformation services. The Health & Civil segment offers air traffic control systems; health mission software; managed health services; infrastructure management and operation; logistical operations and information technology support; and life science research and development support services. The Commercial & International segment provides power grid engineering and design, grid modernization, utility planning and consulting, energy management and efficiency, technology-driven innovation, and software and application development; people scanners, computed tomography carry-on baggage scanners, checked baggage scanners, and explosive trace detectors; mobile, non-intrusive ports and borders inspection systems; and open-architecture platform that transforms airport security by integrating disparate devices and technologies into a unified management system. The Defense Systems segment offers air and missile defense, maritime, aerospace, and cyber and threat systems; offers airborne training, intelligence, surveillance, and reconnaissance missions; and provides space-based electro-optic infrared systems, multi/hyperspectral, electronic warfare and signals intelligence, and communications payloads. Leidos Holdings, Inc. was founded in 1969 and is headquartered in Reston, Virginia.

What the company sells公司卖什么share of revenue营收占比

National Security & Digital国家安全与数字

44%

This segment works for US spy agencies and the military. It builds and protects the computer systems these agencies use every day.这个部门为美国情报机构和军方服务。它建设并保护这些机构每天使用的计算机系统。

Cybersecurity and secure networks网络安全与安全网络
Leidos builds digital locks and alarms for government computers, so outside attackers cannot steal secret data.Leidos 为政府计算机打造数字锁和警报,让外部攻击者无法窃取机密数据。
Cloud computing services云计算服务
Leidos moves old government computer systems onto shared, internet-based systems (called "the cloud"), so agencies work faster and pay less to store data.Leidos 把老旧的政府计算机系统迁移到共享的、基于互联网的系统(称为“云”)上,让各机构工作更快、存储数据花费更少。

Health & Civil健康与民政

30%

This segment runs computer systems for health agencies and everyday civilian government agencies, not the military.这个部门为卫生机构和日常的民政政府机构运行计算机系统,而不是军方。

Veteran and public health records退伍军人和公共卫生记录
Leidos manages the systems that store patient health records for agencies that care for former soldiers, so doctors find a patient's history fast.Leidos 为照护退伍军人的机构管理存储病人健康记录的系统,让医生能快速找到病人的病史。
Air traffic and border systems空中交通和边境系统
Leidos runs the computer systems that guide airplanes for the US air-traffic agency, and builds scanners that check travelers and cargo at borders.Leidos 为美国空中交通机构运行引导飞机的计算机系统,并制造在边境检查旅客和货物的扫描仪。

Commercial & International商业与国际

13%

This segment sells Leidos technology to friendly foreign governments and some private companies, outside the core US federal government.这个部门把 Leidos 的技术卖给友好的外国政府和一些私营公司,在美国核心联邦政府之外。

Security scanners for allies面向盟友的安检扫描仪
Leidos sells airport and border scanners, which use X-rays to see inside bags and containers, to governments such as the UK and Australia.Leidos 把用X射线看清箱包和集装箱内部的机场和边境扫描仪,卖给英国、澳大利亚等国家的政府。
Energy and engineering services能源和工程服务
Leidos gives technical help to energy companies, using skills it first built for government work.Leidos 用最初为政府工作练就的技能,为能源公司提供技术帮助。

Defense Systems国防系统

13%

This segment builds physical defense equipment, not just software.这个部门制造实体国防装备,而不只是软件。

Missile-defense sensors导弹防御传感器
Leidos builds sensors that spot and track missile threats from space, so the military can react faster to an attack.Leidos 制造从太空发现并追踪导弹威胁的传感器,让军方能更快地对攻击做出反应。
Surveillance planes and sea drones侦察飞机和海上无人器
Leidos builds and repairs spy planes, and unmanned boats and submarines, that the military uses to watch and patrol land and sea.Leidos 制造和维修侦察飞机,以及军方用来监视和巡逻陆地与海洋的无人船和无人潜航器。

Company facts公司资料

Founded成立时间
1969
Headquarters总部
Reston, Virginia
Employees员工人数
50,000
Industry行业
Information Technology Services
Country国家
United States

Investment thesis投资逻辑 from the watchlist来自关注列表

IN ZONE $115-135. All three break triggers tested and cleared on the 8/4 print — guide raised, book-to-bill 1.1x total / 2.2x Defense, Q2-record OCF ~$800M. Op income +86% in 3yr (margin 7.8%→12.2%), FCF CAGR 23.5%, debt flat, buyback cash-funded. 10.6x fwd on $12.20-12.50 FY26 EPS. Backlog $48.7B (2.66x rev). VA MDE incentive suspension is dated and in guidance; ex-Health ~7% rev / ~19% EBITDA growth. FV $148-173. Trim 14x fwd. Preferred over BAH — don't need both. Break: FY26 guide cut, book-to-bill <1.0x 2Q, FCF margin rollback, or loss of the VA MDE recompete. A2026-08-04

处于买入区间 $115-135。 8/4 财报对三个中断触发条件全部作了检验并全部通过 — 指引上调、订单出货比 1.1x(国防 2.2x)、经营现金流创 Q2 纪录约 $800M。过去 3 年营业利润 +86%(利润率 7.8%→12.2%),自由现金流年复合增速 23.5%,债务持平,回购完全由现金流支撑。按 FY26 每股收益 $12.20-12.50 计算为 10.6x 前瞻市盈率。在手订单 $48.7B(相当于收入的 2.66 倍)。退伍军人事务部暂停 MDE 激励付款一事有明确时限且已计入指引;剔除健康板块后收入增长约 7%、EBITDA 增长约 19%。合理价值 $148-173。减持 14x 前瞻市盈率。优于 BAH — 两者不必都持有。

Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动

Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例

Gross profit毛利润
18%
Operating profit营业利润
12%
Net profit净利润
8%

of every $1 of revenue每 $1 营收中的占比

Return on equity净资产收益率
31%
Revenue growth营收增长
+4%
Dividend yield股息率
1.49%

Competitors竞争对手

Booz Allen HamiltonSAICCACI InternationalGeneral Dynamics Information Technology

Why customers stay客户为什么留下

Leidos holds the security clearances (government approval to see secret information) and the long track record needed to run classified programs, so it is hard and costly for the government to switch to a new company mid-contract.Leidos握有运行机密项目所需的安全许可(政府批准其查看机密信息的资格)和长期的业绩记录,所以政府在合同中途换一家新公司既难又费钱。

Related companies相关公司 🟡 Govt / defense services

Federal budget + DOGE-style program risk.

LDOS is the upgrade over BAH — don't hold both.

Recent news近期新闻 last 7 days近7天

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