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Specialty business services · Industrials · Fiscal year ends Oct 2
Amentum reported revenue of $14.4B in the fiscal year ended Oct 2025, up 71.6% from the year before. Operating income was $480M, an operating margin of 3.3%, and net income was $66M. Operating cash flow of $543M less capital expenditure of $27M left free cash flow of $516M. Net debt was $3.5B.
Ranks among the 21 specialty business services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|
| 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 & admin | 308 | 297 | 353 | 616 |
| Operating income | 121 | 57.0 | 291 | 480 |
| Pre-tax income | −64.0 | −340 | −123 | 115 |
| Income tax | 14.0 | −19.0 | −40.0 | 56.0 |
| Net income | −84.0 | −314 | −82.0 | 66.0 |
| Diluted EPS | −0.93 | −3.49 | −0.90 | 0.27 |
| Diluted shares | 90.0 | 90.0 | 91.0 | 244 |
| Fiscal year | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|
| Cash & equivalents | 366 | 305 | 452 | 437 |
| Receivables | – | 1,440 | 2,401 | 2,479 |
| Current assets | – | 1,931 | 3,084 | 3,113 |
| Net PP&E | – | 85.0 | 144 | 114 |
| Goodwill | 3,002 | 2,891 | 5,556 | 5,703 |
| Total assets | – | 6,413 | 11,974 | 11,460 |
| Payables | – | 560 | 764 | 892 |
| Deferred revenue | – | 120 | 113 | 227 |
| Current liabilities | – | 1,376 | 1,965 | 2,354 |
| Short-term debt | – | 45.0 | 36.0 | 42.0 |
| Long-term debt | – | 4,067 | 4,643 | 3,901 |
| Total liabilities | – | 5,997 | 7,422 | 6,840 |
| Shareholders' equity | 706 | 375 | 4,460 | 4,505 |
| Backlog (remaining obligations) | – | 6,200 | 12,900 | 9,900 |
| Fiscal year | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|
| Operating cash flow | 126 | 67.0 | 47.0 | 543 |
| Capital expenditure | 18.0 | 12.0 | 11.0 | 27.0 |
| Free cash flow | 108 | 55.0 | 36.0 | 516 |
| Depreciation & amortisation | 20.0 | 27.0 | 23.0 | 40.0 |
| Stock-based compensation | 3.0 | 3.0 | 18.0 | 21.0 |
| Acquisitions | 1,758 | 0.0 | −488 | 70.0 |
| Fiscal year | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 2.5% | 6.6% | 71.6% |
| Operating income growth (YoY) | – | −52.9% | 410.5% | 64.9% |
| Gross margin | 10.0% | 9.9% | 9.5% | 10.5% |
| Operating margin | 1.6% | 0.7% | 3.5% | 3.3% |
| Net margin | −1.1% | −4.0% | −1.0% | 0.5% |
| Return on equityBlank when equity is negative | −11.9% | −83.7% | −1.8% | 1.5% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 1.1% | 2.9% | 5.3% |
| Free cash flow margin | 1.4% | 0.7% | 0.4% | 3.6% |
| Cash conversion (CFO ÷ net income) | −1.50x | −0.21x | −0.57x | 8.23x |
| Receivable days | – | 67 | 104 | 63 |
| Payable days | – | 29 | 37 | 25 |
| Debt ÷ equity | – | 11.0x | 1.05x | 0.88x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 3,807 | 4,227 | 3,506 |
| Current ratio | – | 1.40x | 1.57x | 1.32x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.