HIGHBuilt-in & outside partyCustomer
87%
U.S. government
“10-K Item 1A: 'revenues from contracts with the U.S. government...generated approximately 87% of our total revenue in fiscal 2025, 2024 and 2023'”
LDOS · Concentration risk · 10-K extracted
Leidos Holdings (LDOS) concentration risks
Updated
The most significant concentration Leidos Holdings discloses is U.S. government at 87%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Leidos Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-in & outside partyCustomer
49%
DoW and U.S. Intelligence Community
“10-K Item 1A: 'Revenues under contracts with the DoW and U.S. Intelligence Community...represented approximately 49% of our total revenues for fiscal 2025 and 2023'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by a high-share U.S. government customer dependency that is further concentrated within a specific agency cluster. Revenues from contracts with the U.S. government generated approximately 87% of total revenue in fiscal 2025, 2024, and 2023 — a high-share, sustained exposure with a mixed character: structural in that the business model is built around government information technology and services contracts, but also a dependency in that contract awards, renewals, and funding levels are governed by federal budget appropriations and procurement decisions that the company does not control. Within that government total, revenues under contracts with the Department of Defense and the U.S. Intelligence Community represented approximately 49% of total revenues for fiscal 2025 and 2023 — a moderate share, but notable in that it represents a specific agency cluster where a budget realignment, continuing resolution, or program cancellation could affect a substantial portion of the already-concentrated revenue base. Together the two disclosures create a layered picture: the company is almost entirely dependent on U.S. government spending, and within that, roughly half of revenues are tied to defense and intelligence programs, which are subject to their own distinct appropriations and classification-level dynamics. The absence of any commercial, geographic, or product diversification alongside these exposures means that federal budget cycles, political priorities, and program continuations are the dominant variables for investors evaluating this concentration profile. Monitoring DoD and intelligence community budget trends and contract win rates are the primary watch items.
For the engine’s reasoning on LDOS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Information Technology Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CACI | CACI International, Inc. | 3 | 1 | 0 | 4 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| LDOS● | Leidos Holdings, Inc. | 1 | 1 | 0 | 2 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| APLD | Applied Digital Corporation | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.