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Leidos: the mission-tech contractor where backlog quality has to become cash
Leidos reported FY2025 revenue of $17.17 billion and Q1 2026 revenue of $4.40 billion, putting the investment question on contract quality, margin durability and cash conversion rather than headline government demand alone.
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Leidos: the mission-tech contractor where backlog quality has to become cashLeidos reported FY2025 revenue of $17.17 billion and Q1 2026 revenue of $4.40 billion, putting the investment question on contract quality, margin durability and cash conversion rather than headline government demand alone.NYSEMay 20, 2026Research reportReadSlides