Stocks PSN Financial statements
Financial statementsPARSONS CORP financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data PARSONS CORP 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
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,017 | 3,561 | 3,955 | 3,919 | 3,661 | 4,195 | 5,443 | 6,751 | 6,364 |
| Cost of revenue | 2,400 | 2,795 | 3,123 | 3,042 | 2,808 | 3,249 | 4,237 | 5,344 | 4,933 |
| Gross profit | 617 | 766 | 832 | 877 | 853 | 947 | 1,206 | 1,406 | 1,432 |
| Selling, general and administrative | 781 | 729 | 757 | 777 | 870 | 955 | 1,016 | ||
| General and administrative | 506 | 597 | 781 | 729 | |||||
| Operating income | 151 | 205 | 92.1 | 178 | 132 | 186 | 288 | 428 | 418 |
| Interest expense | 15.8 | 20.8 | 23.7 | 21 | 17.7 | 23.2 | 31.5 | 51.6 | 51.3 |
| Interest income | 2.47 | 2.71 | 1.3 | 0.79 | 0.4 | 0.97 | 2.19 | 11.4 | 6.88 |
| Other non-operating income | 5.66 | -1.65 | -2.39 | 3.77 | -2.56 | 2.78 | 5 | -1.91 | 8.86 |
| Pre-tax income | 133 | 260 | 67.2 | 161 | 113 | 166 | 264 | 368 | 383 |
| Income tax | 21.5 | 20.4 | -69.9 | 42.5 | 23.6 | 39.7 | 56.1 | 77 | 73.6 |
| Net income to minority interests | 14.2 | 17.1 | 16.6 | 20.4 | 24.9 | 29.9 | 46.8 | 55.6 | 67.7 |
| Net income | 97.3 | 222 | 121 | 98.5 | 64.1 | 96.7 | 161 | 235 | 241 |
| EBITDA | 186 | 275 | 218 | 306 | 277 | 306 | 408 | 527 | 535 |
| EPS, basic | 1.16 | 2.78 | 1.30 | 0.98 | 0.62 | 0.93 | 1.53 | 2.21 | 2.26 |
| EPS, diluted | 1.16 | 2.78 | 1.30 | 0.97 | 0.59 | 0.87 | 1.42 | 2.12 | 2.20 |
| Shares, basic (weighted) | 83.6 | 80 | 92.4 | 101 | 103 | 104 | 105 | 106 | 107 |
| Shares, diluted (weighted) | 83.6 | 80 | 92.8 | 101 | 112 | 113 | 115 | 112 | 110 |
Balance sheet
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 446 | 280 | 183 | 484 | 343 | 263 | 273 | 454 | 466 |
| Receivables | 623 | 671 | 699 | 598 | 717 | 916 | 1,100 | 1,124 | |
| Other current assets | 69 | 84.5 | 80.8 | 111 | 106 | 191 | 167 | 177 | |
| Total current assets | 1,489 | 1,526 | 1,843 | 1,632 | 1,720 | 2,138 | 2,462 | 2,684 | |
| Property, plant and equipment | 87.6 | 91.8 | 123 | 121 | 104 | 96.1 | 99 | 112 | 151 |
| Lease right-of-use assets | 0 | 233 | 210 | 183 | 155 | 159 | 153 | 127 | |
| Goodwill | 497 | 737 | 1,047 | 1,262 | 1,413 | 1,662 | 1,793 | 2,083 | 2,187 |
| Intangible assets | 180 | 260 | 246 | 208 | 254 | 276 | 350 | 326 | |
| Other non-current assets | 46.2 | 61.5 | 56 | 46.1 | 66.1 | 71.8 | 56.1 | 58.8 | |
| Total assets | 2,613 | 3,450 | 3,938 | 3,831 | 4,198 | 4,804 | 5,488 | 5,770 | |
| Accounts payable | 226 | 217 | 226 | 196 | 201 | 243 | 208 | 251 | |
| Deferred revenue | 209 | 231 | 202 | 172 | 213 | 301 | 290 | 340 | |
| Short-term debt | 0 | 0 | 50 | 0 | 0 | 463 | 0 | ||
| Total current liabilities | 1,006 | 1,144 | 1,187 | 1,031 | 1,108 | 1,411 | 1,916 | 1,532 | |
| Long-term debt | 249 | 540 | 592 | 744 | 746 | 784 | 1,238 | ||
| Lease liabilities | 0 | 204 | 182 | 149 | 111 | 118 | 114 | 94 | |
| Other non-current liabilities | 128 | 126 | 132 | 94.8 | 109 | 120 | 96.5 | 95.3 | |
| Total liabilities | 1,657 | 1,790 | 2,076 | 1,894 | 2,102 | 2,427 | 2,953 | 3,002 | |
| Total debt | 429 | 249 | 540 | 592 | 744 | 746 | 784 | 1,238 | |
| Paid-in capital | 2,650 | 2,701 | 2,685 | 2,717 | 2,779 | 2,685 | 2,649 | ||
| Retained earnings | 12.4 | -218 | -121 | -53.5 | 43.1 | 204 | 427 | 661 | |
| Treasury stock | -957 | -934 | -899 | -867 | -845 | -827 | -815 | -793 | |
| Other comprehensive income | -23 | -14.3 | -13.9 | -9.57 | -17.8 | -14.9 | -26.6 | -20.9 | |
| Shareholders' equity | -968 | 1,630 | 1,814 | 1,901 | 2,044 | 2,287 | 2,416 | 2,642 | |
| Minority interests | 46.5 | 30.9 | 47.6 | 36.3 | 52.4 | 89.5 | 118 | 126 | |
| Total equity | -1,050 | -921 | 1,661 | 1,861 | 1,937 | 2,096 | 2,377 | 2,534 | 2,768 |
| Total liabilities and equity | 2,613 | 3,450 | 3,938 | 3,831 | 4,198 | 4,804 | 5,488 | 5,770 | |
| Shares outstanding | 0 | 21.8 | 25.7 | 33.3 | 41 | 46 | 52.7 | 56.1 |
Cash flow statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | 112 | 239 | 137 | 119 | 89 | 127 | 208 | 291 | 309 |
| Depreciation and amortization | 35.2 | 69.9 | 126 | 128 | 144 | 121 | 120 | 99.3 | 116 |
| Stock-based compensation | 0 | 0 | 8.27 | 15.2 | 20.2 | 23 | 34.4 | 56.1 | 43.2 |
| Deferred income tax | 5.4 | -1.42 | -123 | 1.27 | -3.47 | -0.84 | -8.91 | 6.1 | 44.3 |
| Change in receivables | -2.96 | 461 | -30.2 | -8.62 | 99.9 | -117 | -176 | -163 | 10.9 |
| Change in payables | 27.3 | 5.57 | -17.1 | 1.49 | -31.8 | -0.72 | 24.5 | -42.7 | 23.3 |
| Cash from operations | 265 | 285 | 220 | 289 | 206 | 238 | 408 | 524 | 478 |
| Capital expenditures | -27.9 | -29.3 | -67.6 | -34 | -21.1 | -30.6 | -40.4 | -49.2 | -68 |
| Acquisitions | -25.7 | -481 | -495 | -303 | -198 | -379 | -222 | -429 | -145 |
| Cash from investing | -53 | -503 | -571 | -346 | -241 | -417 | -376 | -557 | -256 |
| Stock issued | 0 | 537 | 4.39 | 5.56 | 5.38 | 6.06 | 7.94 | 8.88 | |
| Share buybacks | -6.27 | 0 | -21.7 | -22 | -11 | -25 | -125 | ||
| Dividends paid | 0 | 0 | -52.1 | 0 | 0 | ||||
| Cash from financing | -160 | 55.4 | 266 | 348 | -107 | 100 | -21.9 | 219 | -214 |
| Exchange rate effect | 1.24 | -1.7 | -1.29 | ||||||
| Net change in cash | 53.1 | -165 | -85.8 | 292 | -143 | -81.3 | 10.4 | 181 | 12.8 |
| Free cash flow | 237 | 255 | 153 | 255 | 184 | 207 | 367 | 474 | 410 |
| Interest paid | 12.9 | 16.8 | 23.3 | 14.2 | 15 | 20.8 | 30.3 | 34.4 | 43.8 |
| Income taxes paid | 14.4 | 17.1 | 60.5 | 55.4 | 22.5 | 32.2 | 74.1 | 59.8 | 30.8 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 22.8% | Gross profit / revenue. |
| Operating margin | 6.4% | Operating income / revenue. |
| EBITDA margin | 8.4% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 5.8% | Pre-tax income / revenue. |
| Net margin | 3.6% | Net income / revenue. |
| FCF margin | 6.6% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 7.7% | Cash from operations / revenue. |
| Effective tax rate | 19.5% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 8.6% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 3.8% | Net income / average total assets. |
| Return on invested capital (ROIC) | 8.4% | 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 | 16.5% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.7% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 1.1% | Capital expenditures / revenue. |
| D&A / revenue | 2.0% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -5.7% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 14.9% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 10.2% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 1.8% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 14.8% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 10.3% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | -2.3% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | 31.1% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | 18.6% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 1.4% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | 20.4% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 11.8% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 2.6% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 35.6% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 19.6% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 3.8% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 36.2% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 17.8% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -8.6% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 26.3% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 10.6% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -13.5% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | 25.6% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 10.0% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 9.3% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 8.9% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 7.8% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 5.1% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 11.2% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 7.9% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -2.2% | 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 | -1.1% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 1.6% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 1.75x | Current assets / current liabilities. |
| Quick ratio | 0.93x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.19x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.57x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 25.2% | Total debt / total assets. |
| Liabilities / assets | 54.2% | Total liabilities / total assets. |
| Net debt | $1.23B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Net debt / EBITDA | 2.32x | Net debt / EBITDA (twelve months), when EBITDA is positive. |
| Interest coverage | 7.35x | Operating income / interest expense. |
| Working capital | $1.11B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 47.1% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | -$181.8M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 1.05x | Revenue / average total assets. |
| Fixed asset turnover | 40.8x | Revenue / average property, plant and equipment. |
| Receivables turnover | 5.75x | Revenue / average receivables. |
| Days sales outstanding | 64 days | 365 x average receivables / revenue. |
| Days payables | 17 days | 365 x average accounts payable / cost of revenue. |
| FCF conversion | 183.0% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 14.3% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $2.10 | 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 | $58.13 | Revenue / diluted weighted shares. |
| FCF per share | $3.85 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $4.49 | Cash from operations / diluted weighted shares. |
| Book value per share | $46.55 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | -$3.19 | Tangible book value / shares outstanding. |
| Cash per share | $4.99 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 32.4% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $4.60B | Share price x shares outstanding. |
| Enterprise value | $5.83B | Market cap + total debt - cash - short-term investments. |
| P/E | 20.2x | Market cap / net income. Only when net income is positive. |
| P/S | 0.73x | Market cap / revenue. |
| P/B | 1.74x | Market cap / shareholders' equity. Only when equity is positive. |
| P/FCF | 11.0x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 9.46x | Market cap / cash from operations, when positive. |
| EV/Sales | 0.93x | Enterprise value / revenue. |
| EV/EBIT | 14.4x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 11.0x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 14.0x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 9.1% | Free cash flow / market cap. |
| Earnings yield | 5.0% | Net income / market cap (the inverse of P/E). |
| Shareholder yield | 2.9% | (Dividends paid + share buybacks) / market cap. |
| PEG | 0.56x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was PARSONS CORP's revenue in fiscal 2025?
PARSONS CORP reported revenue of $6.36B for fiscal 2025, 5.7% lower than the year before.
Was PARSONS CORP profitable in fiscal 2025?
Yes. Net income was $241.1M, a net margin of 3.8%.
How much free cash flow did PARSONS CORP generate in fiscal 2025?
Cash from operations of $478.4M minus capital expenditures of $68.0M left free cash flow of $410.4M.