Amentum Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Amentum Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2022	FY2024	FY2024	FY2025
Revenue	7,676	7,865	8,388	14,393
Cost of revenue	6,905	7,083	7,590	12,880
Gross profit	771	782	798	1,513
Selling, general and administrative	308	297	353	616
Operating income	121	57	291	480
Pre-tax income	-64	-340	-123	115
Income tax	14	-19	-40	56
Net income to minority interests	6	-7	-1	-7
Net income	-84	-314	-82	66
EBITDA	141	84	314	520
EPS, basic	-0.93	-3.49	-0.90	0.27
EPS, diluted	-0.93	-3.49	-0.90	0.27
Shares, basic (weighted)	90	90	91	243
Shares, diluted (weighted)	90	90	91	244

Balance sheet

	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	366	305	452	437
Receivables		1,440	2,401	2,479
Other current assets		186	231	197
Total current assets		1,931	3,084	3,113
Property, plant and equipment		85	144	114
Lease right-of-use assets		216	250	211
Goodwill	3,002	2,891	5,556	5,703
Intangible assets		988	2,623	1,955
Other non-current assets		414	444	379
Total assets		6,413	11,974	11,460
Accounts payable		560	764	892
Accrued liabilities		369	696	705
Deferred revenue		120	113	227
Short-term debt		45	36	42
Total current liabilities		1,376	1,965	2,354
Long-term debt		4,067	4,643	3,901
Lease liabilities		167	193	157
Other non-current liabilities		413	444	325
Total liabilities		5,997	7,422	6,840
Total debt		4,112	4,679	3,943
Paid-in capital		772	4,962	4,924
Retained earnings		-445	-527	-461
Other comprehensive income		48	23	40
Shareholders' equity		375	4,460	4,505
Minority interests		41	92	115
Total equity	706	416	4,552	4,620
Total liabilities and equity		6,413	11,974	11,460
Shares outstanding		0	243	243

Cash flow statement

	FY2022	FY2024	FY2024	FY2025
Net income	-78	-321	-83	59
Depreciation and amortization	20	27	23	40
Stock-based compensation	3	3	18	21
Deferred income tax	-7	-63	-115	-47
Change in receivables	99	-68	81	-171
Cash from operations	126	67	47	543
Capital expenditures	-18	-12	-11	-27
Acquisitions	-1,758	0	488	-70
Cash from investing	-1,787	-17	475	228
Debt issued	0	0	1,000	0
Cash from financing	1,724	-112	-382	-790
Exchange rate effect	-6	1	7	4
Net change in cash	57	-61	147	-15
Free cash flow	108	55	36	516
Interest paid	208	362	373	306
Income taxes paid	27	26	95	107

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $19.19 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	10.2%	Gross profit / revenue.
Operating margin	4.2%	Operating income / revenue.
EBITDA margin	4.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.9%	Pre-tax income / revenue.
Net margin	1.4%	Net income / revenue.
FCF margin	3.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	3.6%	Cash from operations / revenue.
Effective tax rate	25.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.8%	Net income / average total assets.
Return on invested capital (ROIC)	5.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	3.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	71.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	23.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	89.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	25.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	64.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	58.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	65.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	54.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	1,055.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	62.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	1,333.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	68.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	1.0%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-4.3%	Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y	168.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	39.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.52x	Current assets / current liabilities.
Quick ratio	1.44x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.22x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.81x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.2%	Total debt / total assets.
Liabilities / assets	57.2%	Total liabilities / total assets.
Net debt	$3.37B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	5.33x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.10B	Current assets - current liabilities.
Goodwill and intangibles / assets	65.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$2.68B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.26x	Revenue / average total assets.
Fixed asset turnover	131x	Revenue / average property, plant and equipment.
Receivables turnover	5.53x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	24 days	365 x average accounts payable / cost of revenue.
FCF conversion	232.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.83	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$57.67	Revenue / diluted weighted shares.
FCF per share	$1.93	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.06	Cash from operations / diluted weighted shares.
Book value per share	$19.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$10.98	Tangible book value / shares outstanding.
Cash per share	$1.88	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$4.69B	Share price x shares outstanding.
Enterprise value	$8.06B	Market cap + total debt - cash - short-term investments.
P/E	23.0x	Market cap / net income. Only when net income is positive.
P/S	0.33x	Market cap / revenue.
P/B	1.00x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	9.90x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.29x	Market cap / cash from operations, when positive.
EV/Sales	0.57x	Enterprise value / revenue.
EV/EBIT	13.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.1%	Free cash flow / market cap.
Earnings yield	4.3%	Net income / market cap (the inverse of P/E).

What was Amentum Holdings, Inc.'s revenue in fiscal 2025?

Amentum Holdings, Inc. reported revenue of $14.39B for fiscal 2025, 71.6% higher than the year before.

Was Amentum Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $66.0M, a net margin of 0.5%.

How much free cash flow did Amentum Holdings, Inc. generate in fiscal 2025?

Cash from operations of $543.0M minus capital expenditures of $27.0M left free cash flow of $516.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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