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Consulting services · Industrials · Fiscal year ends Mar 31
Booz Allen Hamilton reported revenue of $11.2B in the fiscal year ended Mar 2026, down 6.4% from the year before. Operating income was $1B, an operating margin of 9.2%, and net income was $851M. Operating cash flow of $1B less capital expenditure of $90M left free cash flow of $951M. Net debt was $3.2B.
Ranks among the 10 consulting services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 8,364 | 9,259 | 10,662 | 11,980 | 11,217 |
| Cost of revenue | 3,900 | 4,305 | 4,921 | 5,419 | 5,305 |
| Gross profit | 4,464 | 4,954 | 5,741 | 6,561 | 5,912 |
| Operating income | 685 | 447 | 1,014 | 1,370 | 1,033 |
| Interest expense | 92.4 | 120 | 173 | 186 | 212 |
| Pre-tax income | 604 | 368 | 854 | 1,219 | 862 |
| Income tax | 137 | 97.0 | 248 | 284 | 11.0 |
| Net income | 467 | 272 | 606 | 935 | 851 |
| Diluted EPS | 3.44 | 2.03 | 4.59 | 7.25 | 6.90 |
| Diluted shares | 135 | 133 | 131 | 128 | 122 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 696 | 405 | 554 | 885 | 728 |
| Receivables | 1,623 | 1,775 | 2,047 | 2,271 | 2,063 |
| Current assets | 2,446 | 2,288 | 2,739 | 3,313 | 2,961 |
| Net PP&E | 202 | 195 | 188 | 177 | 171 |
| Goodwill | 2,022 | 2,338 | 2,344 | 2,405 | 2,399 |
| Total assets | 6,026 | 6,551 | 6,564 | 7,312 | 7,118 |
| Payables | 540 | 598 | 653 | 693 | 594 |
| Deferred revenue | 26.7 | 19.0 | 16.0 | 18.0 | 28.0 |
| Current liabilities | 1,534 | 1,897 | 1,692 | 1,846 | 1,663 |
| Short-term debt | 68.4 | 41.3 | 62.0 | 83.0 | 19.0 |
| Long-term debt | 2,732 | 2,771 | 3,350 | 3,915 | 3,921 |
| Total liabilities | 4,979 | 5,559 | 5,517 | 6,309 | 6,013 |
| Shareholders' equity | 1,046 | 992 | 1,047 | 1,003 | 1,105 |
| Backlog (remaining obligations) | 7,400 | 7,900 | 8,700 | 9,500 | 10,700 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 737 | 603 | 259 | 1,009 | 1,041 |
| Capital expenditure | 80.0 | 76.0 | 67.0 | 98.0 | 90.0 |
| Free cash flow | 657 | 527 | 192 | 911 | 951 |
| Depreciation & amortisation | 146 | 165 | 164 | 165 | 163 |
| Stock-based compensation | 69.8 | 80.0 | 95.0 | 94.0 | 69.0 |
| Acquisitions | 780 | 440 | 0.0 | 97.0 | – |
| Share buybacks | 419 | 224 | 404 | 812 | 598 |
| Dividends paid | 209 | 236 | 254 | 268 | 276 |
| Dividend per share | 1.54 | 1.76 | 1.92 | 2.08 | 2.24 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.7% | 15.2% | 12.4% | −6.4% |
| Operating income growth (YoY) | – | −34.8% | 126.8% | 35.1% | −24.6% |
| EPS growth (YoY) | – | −41.0% | 126.1% | 58.0% | −4.8% |
| Gross margin | 53.4% | 53.5% | 53.8% | 54.8% | 52.7% |
| Operating margin | 8.2% | 4.8% | 9.5% | 11.4% | 9.2% |
| Net margin | 5.6% | 2.9% | 5.7% | 7.8% | 7.6% |
| Return on equityBlank when equity is negative | 44.6% | 27.4% | 57.9% | 93.2% | 77.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 15.3% | 9.6% | 20.8% | 25.1% | 18.9% |
| Free cash flow margin | 7.9% | 5.7% | 1.8% | 7.6% | 8.5% |
| Cash conversion (CFO ÷ net income) | 1.58x | 2.22x | 0.43x | 1.08x | 1.22x |
| Receivable days | 71 | 70 | 70 | 69 | 67 |
| Payable days | 50 | 51 | 48 | 47 | 41 |
| Interest cover | 7.42x | 3.73x | 5.86x | 7.37x | 4.87x |
| Debt ÷ equity | 2.68x | 2.83x | 3.26x | 3.99x | 3.57x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,104 | 2,407 | 2,858 | 3,113 | 3,212 |
| Current ratio | 1.59x | 1.21x | 1.62x | 1.79x | 1.78x |
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.