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Leidos Holdings Business Segments

Business, geographic, and product segment breakdowns

Leidos Holdings generates $17.3B in annual revenue across 4 key segments: Defense ($883.0M), Health ($3.0B), Homeland ($816.0M), and Intelligence & Digital ($1.5B). The company-wide operating margin is 12.04%. Based on the Q1 2026 filing.

Defense$883.0MHealth (TTM)$3.0BHomeland$816.0MIntelligence & Digital$1.5B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$15.4B
P/E Ratio10.87
ROE30.49%

Geographic

Percentage of sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International2.0%2.0%2.0%2.0%2.0%—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$4B$3.9B$3.9B$4.1B$3.8B$4B
International$357M$347M$340M$345M$372M$357M

Business Segments

Goodwill, Written off Related to Sale of Business Unit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Commercial & International—$1.8M$1.8M$1.8M$1.8M—
Defense—$0$0$0$0—
Defense Systems—$0$0$0$0—
Health & Civil—$0$0$0$0—
Health—$0$0$0$0—
Homeland—$1.8M$1.8M$1.8M$1.8M—
Intelligence & Digital—$0$0$0$0—
National Security & Digital—$0$0$0$0—

Acquisition of a business

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland—$0$0$0$0$1.7B
Defense—$0$0$0$0$0
Health—$0$0$0$0$0
Intelligence & Digital—$57.8M$57.8M$57.8M$57.8M$0

Intangible Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Defense—$12M———$11M
Intelligence & Digital—$5M———$8M
Homeland—$7M———$7M
Health—$6M———$4M

Direct labor

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Intelligence & Digital—$383M———$400M
Defense—$208M———$224M
Health—$206M———$200M
Homeland—$162M———$178M

Foreign currency translation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland—$8.5M$8.5M$8.5M$8.5M$4M
Defense—$0$0$0$0$0
Health—$0$0$0$0$0
Intelligence & Digital—$0$0$0$0$0

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland$950M———$977M$2.7B
Intelligence & Digital$2B———$2.2B$2.2B
Defense$1.8B———$1.8B$1.8B
Health$1.3B———$1.3B$1.3B

Other segment expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Intelligence & Digital—$888M———$959M
Health—$688M———$700M
Homeland—$540M———$598M
Defense—$585M———$586M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Intelligence & Digital—$1.4B———$1.5B
Health—$1.2B———$1.2B
Defense—$879M———$883M
Homeland—$770M———$816M

Segment operating income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Health—$288M———$284M
Intelligence & Digital—$132M———$146M
Defense—$74M———$62M
Homeland—$61M———$33M

Accumulated goodwill impairment losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland—————$596M

Business combination, acquisition-related cost

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland—————$29M

Number of business segment from air traffic market

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Homeland—————5.00