What is Parsons' operating income?

Parsons' total operating income in 2025 was $418.07 million, based on the following breakdown: Total Gross Profit: $1.43 billion Total Operating Expenses: $1.01 billion

Parsons (PSN) Financials

$47.60 +3.39 (+7.67%)

Closing price 08/3/2026 03:59 PM Eastern

Extended Trading

$46.66 -0.95 (-1.99%)

As of 08/3/2026 07:59 PM Eastern

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Annual Income Statements for Parsons

This table shows Parsons' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	97	222	121	99	64	97	161	235	241
Consolidated Net Income / (Loss)	112	239	137	119	89	127	208	291	309
Net Income / (Loss) Continuing Operations	112	239	137	119	89	127	208	291	309
Total Pre-Tax Income	133	260	67	161	113	166	264	368	383
Total Operating Income	151	205	92	178	132	186	288	428	418
Total Gross Profit	617	766	832	877	853	947	1,206	1,406	1,432
Total Revenue	3,017	3,561	3,955	3,919	3,661	4,195	5,443	6,751	6,364
Operating Revenue	3,017	3,561	3,955	3,919	3,661	4,195	5,443	6,751	6,364
Total Cost of Revenue	2,400	2,795	3,123	3,042	2,808	3,249	4,237	5,344	4,933
Operating Cost of Revenue	2,400	2,795	3,123	3,042	2,808	3,249	4,237	5,344	4,933
Total Operating Expenses	466	560	740	699	720	761	918	978	1,013
Selling, General & Admin Expense	506	597	781	729	757	777	870	955	1,016
Other Operating Expenses / (Income)	-40	-37	-42	-30	-37	-16	48	23	-2.58
Total Other Income / (Expense), net	-18	55	-25	-16	-20	-19	-24	-60	-36
Interest Expense	16	21	24	21	18	23	31	52	51
Interest & Investment Income	2.47	2.71	1.30	0.79	0.40	0.97	2.19	11	6.88
Other Income / (Expense), net	-4.37	73	-2.39	3.77	-2.56	2.78	5.00	-20	8.86
Income Tax Expense	21	20	-70	42	24	40	56	77	74
Net Income / (Loss) Attributable to Noncontrolling Interest	14	17	17	20	25	30	47	56	68
Basic Earnings per Share	$1.16	$2.78	$1.30	$0.98	$0.62	$0.93	$1.53	$2.21	$2.26
Weighted Average Basic Shares Outstanding	-	-	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M
Diluted Earnings per Share	$1.16	$2.78	$1.30	$0.97	$0.59	$0.87	$1.42	$2.12	$2.20
Weighted Average Diluted Shares Outstanding	-	-	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M
Weighted Average Basic & Diluted Shares Outstanding	-	-	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M

This table shows Parsons' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	45	40	69	72	201	66	55	64	56	53	-15
Consolidated Net Income / (Loss)	58	55	81	86	216	82	70	82	75	65	-0.47
Net Income / (Loss) Continuing Operations	58	55	81	86	216	82	70	82	75	65	-0.47
Total Pre-Tax Income	72	68	103	108	281	101	89	98	95	81	3.76
Total Operating Income	77	102	111	115	100	109	96	108	105	96	1.30
Total Gross Profit	367	325	352	360	370	354	348	360	369	357	295
Total Revenue	1,494	1,536	1,670	1,810	1,734	1,554	1,584	1,622	1,604	1,491	1,576
Operating Revenue	1,494	1,536	1,670	1,810	1,734	1,554	1,584	1,622	1,604	1,491	1,576
Total Cost of Revenue	1,127	1,211	1,319	1,450	1,365	1,200	1,236	1,262	1,234	1,134	1,281
Operating Cost of Revenue	1,127	1,211	1,319	1,450	1,365	1,200	1,236	1,262	1,234	1,134	1,281
Total Operating Expenses	290	223	240	245	247	245	253	252	264	262	294
Selling, General & Admin Expense	238	221	223	246	265	244	252	260	260	268	260
Other Operating Expenses / (Income)	52	2.06	17	-0.87	-	0.69	0.64	-8.27	4.35	-6.16	34
Total Other Income / (Expense), net	-5.19	-34	-8.29	-6.88	158	-8.47	-6.48	-10	-10	-14	2.46
Interest Expense	9.13	13	13	13	-180	12	13	14	13	16	16
Interest & Investment Income	0.60	1.15	3.83	4.23	-21	2.14	1.07	1.84	1.83	1.81	0.57
Other Income / (Expense), net	3.34	-22	0.90	1.92	-1.40	1.64	5.02	1.57	0.64	-0.19	18
Income Tax Expense	14	13	22	23	64	19	19	16	20	16	4.22
Net Income / (Loss) Attributable to Noncontrolling Interest	13	15	12	14	15	16	15	18	19	12	15
Basic Earnings per Share	$0.43	$0.37	$0.65	$0.68	$1.89	$0.62	$0.52	$0.60	$0.52	$0.49	($0.14)
Weighted Average Basic Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M
Diluted Earnings per Share	$0.39	$0.37	$0.63	$0.65	$1.85	$0.60	$0.50	$0.59	$0.51	$0.49	($0.14)
Weighted Average Diluted Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M
Weighted Average Basic & Diluted Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M

This table details how cash moves in and out of Parsons' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	53	-165	-86	292	-143	-81	10	181	13
Net Cash From Operating Activities	265	285	220	289	206	238	408	524	478
Net Cash From Continuing Operating Activities	265	285	220	289	206	238	408	524	478
Net Income / (Loss) Continuing Operations	112	239	137	119	89	127	208	291	309
Consolidated Net Income / (Loss)	112	239	137	119	89	127	208	291	309
Depreciation Expense	35	70	126	128	144	121	120	99	116
Amortization Expense	-6.78	-6.53	0.97	5.19	2.82	3.03	2.84	7.80	5.06
Non-Cash Adjustments To Reconcile Net Income	59	-364	27	60	65	60	154	237	22
Changes in Operating Assets and Liabilities, net	66	346	-71	-23	-95	-72	-77	-112	26
Net Cash From Investing Activities	-53	-503	-571	-346	-241	-417	-376	-557	-256
Net Cash From Continuing Investing Activities	-53	-503	-571	-346	-256	-417	-376	-557	-256
Purchase of Property, Plant & Equipment	-28	-29	-68	-34	-21	-31	-40	-49	-68
Acquisitions	-29	-486	-519	-314	-237	-397	-342	-563	-229
Sale of Property, Plant & Equipment	2.25	0.44	3.79	1.55	1.33	0.77	0.55	0.18	0.84
Divestitures	-	-	0.00	0.00	0.00	0.00	0.38	0.00	0.00
Sale and/or Maturity of Investments	1.97	11	12	0.05	0.77	9.44	5.02	55	40
Net Cash From Financing Activities	-160	55	266	348	-107	100	-22	219	-214
Net Cash From Continuing Financing Activities	-160	55	266	348	-102	100	-22	219	-214
Repayment of Debt	-1.95	-81	-777	-223	-50	-1,171	-621	-172	-596
Repurchase of Preferred Equity	-	-	-	-	-	0.00	0.00	-498	-113
Repurchase of Common Equity	-	-	-6.27	0.00	-22	-33	-11	-25	-125
Payment of Dividends	-51	-19	-94	-5.82	-38	-24	-12	-29	-63
Issuance of Debt	0.00	260	597	613	0.00	1,320	621	953	694
Issuance of Common Equity	7.48	21	547	20	7.31	16	8.93	10	10
Other Financing Activities, net	-114	-126	0.00	-56	0.00	-7.04	-7.30	-20	-20
Effect of Exchange Rate Changes	1.24	-1.70	-1.29	0.82	-1.50	-1.77	0.55	-5.04	4.14
Cash Interest Paid	13	17	23	14	15	21	30	34	44

This table details how cash moves in and out of Parsons' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	68	150	105	30	-105	-184	142	11	44	-182	-18
Net Cash From Operating Activities	190	-63	161	299	127	-12	160	163	168	-3.70	58
Net Cash From Continuing Operating Activities	190	-63	161	299	127	-12	160	163	168	-3.70	58
Net Income / (Loss) Continuing Operations	58	55	81	86	216	82	70	82	75	65	-0.47
Consolidated Net Income / (Loss)	58	55	81	86	216	82	70	82	75	65	-0.47
Depreciation Expense	33	25	24	25	26	27	29	30	31	36	37
Amortization Expense	0.72	4.10	1.23	1.24	1.24	1.22	1.39	1.22	1.22	1.21	1.23
Non-Cash Adjustments To Reconcile Net Income	179	53	11	60	-90	-36	22	45	-8.11	-62	-10
Changes in Operating Assets and Liabilities, net	-80	-200	44	128	-27	-86	37	5.04	69	-44	30
Net Cash From Investing Activities	-49	-46	-43	-256	-212	-62	-103	-24	-67	-365	-22
Net Cash From Continuing Investing Activities	-49	-46	-43	-256	-212	-62	-103	-24	-67	-365	-22
Purchase of Property, Plant & Equipment	-9.52	-9.44	-9.26	-12	-19	-13	-9.44	-13	-32	-15	-16
Acquisitions	-44	-36	-34	-244	-248	-48	-105	-27	-48	-357	-30
Sale and/or Maturity of Investments	4.95	-	-	-	55	0.00	-	16	12	7.54	0.04
Net Cash From Financing Activities	-74	260	-12	-13	-15	-111	82	-127	-58	186	-53
Net Cash From Continuing Financing Activities	-74	260	-12	-13	-15	-111	82	-127	-58	186	-53
Repayment of Debt	-184	-172	-0.24	-	800	-146	-450	-	-	-76	-145
Repurchase of Common Equity	-3.00	0.00	-10	-	-15	-25	-15	-25	-60	-35	-15
Payment of Dividends	-0.34	-11	-3.99	-14	-0.19	-42	-3.05	-18	-0.45	-34	-2.95
Issuance of Debt	109	953	-	-	-800	146	548	-	-	350	105
Issuance of Common Equity	4.45	0.00	3.82	0.96	5.33	0.26	4.86	1.18	4.16	0.81	5.13
Other Financing Activities, net	-0.36	-15	-2.03	-0.29	-3.33	-16	-2.57	-0.75	-1.36	-20	-0.23
Effect of Exchange Rate Changes	0.38	-0.40	-0.24	0.33	-4.72	0.52	2.75	-0.35	1.23	-0.67	-0.50

This table presents Parsons' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,613	3,450	3,938	3,831	4,198	4,804	5,488	5,770
Total Current Assets	1,489	1,526	1,843	1,632	1,720	2,138	2,462	2,684
Cash & Equivalents	280	183	484	343	263	273	454	466
Accounts Receivable	623	671	699	598	717	916	1,100	1,124
Prepaid Expenses	69	84	81	111	106	191	167	177
Other Current Assets	515	575	577	579	634	758	742	916
Other Current Nonoperating Assets	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	92	123	121	104	96	99	112	151
Total Noncurrent Assets	1,032	1,801	1,974	2,094	2,382	2,568	2,914	2,935
Long-Term Investments	64	69	69	111	107	128	139	149
Goodwill	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
Noncurrent Deferred & Refundable Income Taxes	5.68	130	130	134	138	140	133	88
Other Noncurrent Operating Assets	46	295	266	229	221	231	209	186
Total Liabilities & Shareholders' Equity	2,613	3,450	3,938	3,831	4,198	4,804	5,488	5,770
Total Liabilities	1,657	1,790	2,076	1,894	2,102	2,427	2,953	3,002
Total Current Liabilities	1,006	1,144	1,187	1,031	1,108	1,411	1,916	1,532
Short-Term Debt	-	0.00	50	-	59	0.00	463	45
Accounts Payable	226	217	226	196	201	243	208	251
Accrued Expenses	560	640	651	599	630	801	894	884
Current Deferred Revenue	209	231	202	172	213	301	290	340
Current Deferred & Payable Income Tax Liabilities	12	7.23	4.98	7.84	4.29	6.98	7.70	11
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	651	645	889	863	994	1,016	1,038	1,470
Long-Term Debt	429	249	540	592	744	746	784	1,238
Capital Lease Obligations	46	-	-	149	111	118	114	94
Noncurrent Deferred & Payable Income Tax Liabilities	6.24	9.62	12	11	12	9.78	11	12
Other Noncurrent Operating Liabilities	170	386	337	111	127	143	128	126
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-921	1,661	1,861	1,937	2,096	2,377	2,534	2,768
Total Preferred & Common Equity	-968	1,630	1,814	1,901	2,044	2,287	2,416	2,642
Total Common Equity	-968	1,630	1,814	1,901	2,044	2,287	2,416	2,642
Common Stock	0.00	2,796	2,848	2,831	2,863	2,926	2,831	2,794
Retained Earnings	12	-218	-121	-54	43	204	427	661
Treasury Stock	-957	-934	-899	-867	-845	-827	-815	-793
Accumulated Other Comprehensive Income / (Loss)	-23	-14	-14	-9.57	-18	-15	-27	-21
Noncontrolling Interest	46	31	48	36	52	90	118	126

This table presents Parsons' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	4,256	4,508	4,733	5,098	5,239	5,443	5,449	5,721	5,737	6,012	6,107
Total Current Assets	1,801	1,980	2,016	2,427	2,574	2,555	2,401	2,594	2,649	2,594	2,720
Cash & Equivalents	220	179	205	423	528	559	270	411	423	284	266
Accounts Receivable	764	949	907	1,023	1,043	1,035	1,125	1,168	1,224	1,097	1,146
Prepaid Expenses	134	140	147	213	199	171	184	178	180	192	228
Other Current Assets	684	712	757	768	804	790	823	836	822	1,022	1,062
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	17
Plant, Property, & Equipment, net	95	95	99	98	98	101	122	123	126	155	160
Total Noncurrent Assets	2,360	2,432	2,618	2,573	2,567	2,787	2,926	3,005	2,962	3,263	3,227
Long-Term Investments	107	119	165	145	157	195	142	151	156	162	153
Goodwill	1,662	1,693	1,797	1,791	1,791	1,931	2,107	2,162	2,163	2,424	2,421
Intangible Assets	236	240	282	262	248	308	340	361	339	408	384
Noncurrent Deferred & Refundable Income Taxes	140	145	149	158	163	164	132	134	107	60	61
Other Noncurrent Operating Assets	214	235	225	217	208	190	205	196	196	209	207
Total Liabilities & Shareholders' Equity	4,256	4,508	4,733	5,098	5,239	5,443	5,449	5,721	5,737	6,012	6,107
Total Liabilities	2,130	2,317	2,485	2,855	2,919	3,029	2,903	3,100	3,072	3,258	3,359
Total Current Liabilities	1,140	1,295	1,394	1,354	1,427	1,650	1,865	1,608	1,588	1,480	1,637
Short-Term Debt	56	57	57	55	53	115	435	85	0.00	43	40
Accounts Payable	209	237	266	274	253	300	289	288	271	233	247
Accrued Expenses	635	694	772	739	822	877	784	848	912	832	941
Current Deferred Revenue	229	292	277	283	298	-	298	320	344	360	347
Current Deferred & Payable Income Tax Liabilities	11	15	22	2.37	1.04	4.56	7.69	13	11	13	2.10
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	61
Total Noncurrent Liabilities	990	1,022	1,091	1,502	1,492	1,379	1,038	1,492	1,484	1,778	1,722
Long-Term Debt	744	745	820	1,246	1,247	1,133	785	1,236	1,237	1,513	1,474
Capital Lease Obligations	107	129	119	107	98	98	108	100	98	121	120
Noncurrent Deferred & Payable Income Tax Liabilities	13	20	20	9.76	9.79	28	11	19	18	12	10
Other Noncurrent Operating Liabilities	126	128	131	139	137	121	133	137	132	132	118
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,126	2,191	2,248	2,243	2,320	2,414	2,546	2,622	2,665	2,754	2,748
Total Preferred & Common Equity	2,064	2,119	2,173	2,150	2,219	2,312	2,454	2,516	2,558	2,650	2,631
Total Common Equity	2,064	2,119	2,173	2,150	2,219	2,312	2,454	2,516	2,558	2,650	2,631
Common Stock	2,858	2,868	2,876	2,907	2,909	2,929	2,807	2,807	2,792	2,756	2,757
Retained Earnings	68	112	159	87	156	227	488	542	606	710	695
Treasury Stock	-845	-845	-845	-827	-827	-827	-815	-815	-815	-793	-793
Accumulated Other Comprehensive Income / (Loss)	-18	-15	-17	-17	-19	-16	-26	-18	-24	-23	-27
Noncontrolling Interest	62	71	75	93	101	102	92	106	107	105	116

This table displays calculated financial ratios and metrics derived from Parsons' official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	18.01%	11.07%	-0.91%	-6.59%	14.60%	29.74%	24.03%	-5.72%
EBITDA Growth	0.00%	95.29%	-36.61%	45.49%	-12.02%	12.66%	33.40%	28.12%	6.53%
EBIT Growth	0.00%	89.93%	-67.74%	102.50%	-28.47%	45.08%	55.68%	45.27%	4.69%
NOPAT Growth	0.00%	49.50%	-0.63%	-30.22%	-20.12%	35.10%	60.61%	49.05%	-0.25%
Net Income Growth	0.00%	114.67%	-42.73%	-13.28%	-25.20%	42.28%	64.28%	39.80%	6.26%
EPS Growth	0.00%	139.66%	-53.24%	-25.38%	-39.18%	47.46%	63.22%	49.30%	3.77%
Operating Cash Flow Growth	0.00%	7.40%	-22.62%	31.29%	-28.91%	15.54%	71.64%	28.43%	-8.64%
Free Cash Flow Firm Growth	0.00%	0.00%	58.43%	68.31%	-89.23%	-23.23%	110.22%	-549.69%	224.12%
Invested Capital Growth	0.00%	0.00%	51.63%	15.13%	17.31%	18.75%	7.53%	16.38%	5.46%
Revenue Q/Q Growth	0.00%	0.00%	2.82%	-1.83%	-0.37%	3.77%	7.74%	3.69%	-2.01%
EBITDA Q/Q Growth	0.00%	0.00%	6.38%	7.69%	1.73%	3.00%	5.41%	2.13%	-1.09%
EBIT Q/Q Growth	0.00%	0.00%	1.56%	12.36%	1.63%	9.59%	6.84%	4.32%	-2.49%
NOPAT Q/Q Growth	0.00%	0.00%	1.07%	3.16%	11.07%	2.64%	8.52%	0.38%	1.33%
Net Income Q/Q Growth	0.00%	0.00%	6.26%	4.02%	11.59%	0.16%	11.66%	119.78%	1.79%
EPS Q/Q Growth	0.00%	0.00%	4.00%	4.30%	9.26%	-2.25%	11.81%	221.21%	1.85%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-30.18%	42.41%	-29.46%	-0.29%	32.92%	-10.80%	9.31%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-230.99%	26.52%	25.64%	130.88%	-161.99%	297.50%
Invested Capital Q/Q Growth	0.00%	0.00%	0.94%	13.65%	7.62%	2.57%	-1.23%	9.87%	1.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	20.45%	21.50%	21.03%	22.37%	23.30%	22.57%	22.16%	20.83%	22.49%
EBITDA Margin	5.79%	9.58%	5.47%	8.03%	7.56%	7.44%	7.65%	7.90%	8.62%
Operating Margin	5.00%	5.76%	2.33%	4.54%	3.62%	4.43%	5.30%	6.34%	6.57%
EBIT Margin	4.85%	7.81%	2.27%	4.63%	3.55%	4.49%	5.39%	6.31%	6.71%
Profit (Net Income) Margin	3.70%	6.72%	3.47%	3.03%	2.43%	3.02%	3.82%	4.31%	4.85%
Tax Burden Percent	83.86%	92.16%	203.93%	73.68%	79.01%	76.14%	78.74%	79.06%	80.75%
Interest Burden Percent	90.89%	93.48%	74.99%	88.89%	86.68%	88.21%	90.01%	86.27%	89.59%
Effective Tax Rate	16.14%	7.84%	-103.93%	26.33%	20.99%	23.86%	21.26%	20.94%	19.25%
Return on Invested Capital (ROIC)	0.00%	34.81%	13.75%	7.40%	5.08%	5.81%	8.29%	11.02%	9.95%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	112.25%	-73.70%	-118.69%	-4.72%	2.25%	4.49%	3.26%	6.08%
Return on Net Nonoperating Assets (RNNOA)	0.00%	15.33%	-3.26%	-0.65%	-0.40%	0.46%	1.01%	0.82%	1.71%
Return on Equity (ROE)	0.00%	50.13%	10.48%	6.75%	4.68%	6.28%	9.30%	11.84%	11.65%
Cash Return on Invested Capital (CROIC)	0.00%	-165.19%	-27.29%	-6.67%	-10.85%	-11.33%	1.03%	-4.12%	4.63%
Operating Return on Assets (OROA)	0.00%	10.64%	2.96%	4.92%	3.34%	4.69%	6.52%	8.28%	7.58%
Return on Assets (ROA)	0.00%	9.16%	4.52%	3.22%	2.29%	3.15%	4.62%	5.65%	5.49%
Return on Common Equity (ROCE)	0.00%	-50.78%	2.65%	6.60%	4.58%	6.14%	9.00%	11.34%	11.11%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-24.75%	8.41%	6.56%	4.68%	6.19%	9.09%	12.03%	0.00%
Net Operating Profit after Tax (NOPAT)	126	189	188	131	105	141	227	338	338
NOPAT Margin	4.19%	5.31%	4.75%	3.34%	2.86%	3.37%	4.17%	5.01%	5.30%
Net Nonoperating Expense Percent (NNEP)	0.00%	-77.45%	87.44%	126.09%	9.80%	3.57%	3.80%	7.75%	3.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	4.70%	7.01%	8.69%	8.23%
Cost of Revenue to Revenue	79.55%	78.50%	78.97%	77.63%	76.70%	77.43%	77.84%	79.17%	77.51%
SG&A Expenses to Revenue	16.78%	16.78%	19.76%	18.60%	20.69%	18.53%	15.98%	14.15%	15.96%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.45%	15.74%	18.70%	17.84%	19.68%	18.14%	16.86%	14.15%	15.92%
Earnings before Interest and Taxes (EBIT)	146	278	90	182	130	188	293	426	427
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	175	341	216	315	277	312	416	533	548
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.51	2.02	1.81	2.34	2.88	4.05	2.49
Price to Tangible Book Value (P/TBV)	0.00	0.00	12.70	11.99	12.28	37.52	30.04	0.00	50.82
Price to Revenue (P/Rev)	0.17	0.14	1.04	0.94	0.94	1.14	1.21	1.45	1.03
Price to Earnings (P/E)	5.14	2.25	34.00	37.22	53.70	49.52	40.82	41.68	27.29
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	19.47%	44.47%	2.94%	2.69%	1.86%	2.02%	2.45%	2.40%	3.66%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.35	2.50	1.98	1.69	2.04	2.51	3.23	2.13
Enterprise Value to Revenue (EV/Rev)	0.00	0.72	1.04	0.96	1.03	1.28	1.31	1.58	1.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	7.48	19.02	11.91	13.59	17.26	17.13	20.04	13.53
Enterprise Value to EBIT (EV/EBIT)	0.00	9.19	45.88	20.65	28.98	28.57	24.30	25.07	17.39
Enterprise Value to NOPAT (EV/NOPAT)	0.00	13.51	21.91	28.62	35.97	38.08	31.40	31.57	21.99
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	8.97	18.68	12.96	18.31	22.67	17.49	20.40	15.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	253.23	0.00	47.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.50	0.15	0.32	0.38	0.44	0.36	0.54	0.48
Long-Term Debt to Equity	0.00	0.50	0.15	0.29	0.38	0.41	0.36	0.35	0.48
Financial Leverage	0.00	0.14	0.04	0.01	0.08	0.21	0.23	0.25	0.28
Leverage Ratio	0.00	2.74	2.32	2.10	2.05	1.99	2.01	2.10	2.12
Compound Leverage Factor	0.00	2.56	1.74	1.86	1.77	1.76	1.81	1.81	1.90
Debt to Total Capital	0.00%	33.22%	13.05%	24.07%	27.66%	30.37%	26.65%	34.95%	32.49%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	2.04%	0.00%	1.96%	0.00%	11.89%	0.00%
Long-Term Debt to Total Capital	0.00%	33.22%	13.05%	22.03%	27.66%	28.41%	26.65%	23.06%	32.49%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	134.42%	1.62%	1.94%	1.36%	1.74%	2.76%	3.03%	3.07%
Common Equity to Total Capital	0.00%	-67.64%	85.33%	73.99%	70.98%	67.89%	70.59%	62.02%	64.45%
Debt to EBITDA	0.00	1.39	1.15	1.87	2.68	2.93	2.07	2.55	2.43
Net Debt to EBITDA	0.00	0.38	-0.07	0.11	1.03	1.74	1.11	1.44	1.31
Long-Term Debt to EBITDA	0.00	1.39	1.15	1.72	2.68	2.74	2.07	1.69	2.43
Debt to NOPAT	0.00	2.52	1.33	4.50	7.08	6.47	3.80	4.02	3.95
Net Debt to NOPAT	0.00	0.69	-0.08	0.26	2.74	3.85	2.04	2.27	2.12
Long-Term Debt to NOPAT	0.00	2.52	1.33	4.12	7.08	6.05	3.80	2.65	3.95
Altman Z-Score	0.00	2.12	2.65	2.36	2.33	2.70	3.20	3.70	3.06
Noncontrolling Interest Sharing Ratio	0.00%	201.29%	74.68%	2.23%	2.21%	2.20%	3.17%	4.23%	4.60%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.48	1.33	1.55	1.58	1.55	1.52	1.29	1.75
Quick Ratio	0.00	0.90	0.75	1.00	0.91	0.88	0.84	0.81	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-897	-373	-118	-223	-275	28	-127	157
Operating Cash Flow to CapEx	1,031.68%	986.80%	345.16%	890.00%	1,039.51%	796.48%	1,023.08%	1,067.84%	712.64%
Free Cash Flow to Firm to Interest Expense	0.00	-43.02	-15.71	-5.64	-12.63	-11.88	0.89	-1.81	3.06
Operating Cash Flow to Interest Expense	16.78	13.66	9.28	13.80	11.62	10.24	12.94	7.49	9.32
Operating Cash Flow Less CapEx to Interest Expense	15.15	12.27	6.59	12.25	10.50	8.96	11.68	6.79	8.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.36	1.30	1.06	0.94	1.05	1.21	1.31	1.13
Accounts Receivable Turnover	0.00	5.71	6.11	5.72	5.65	6.38	6.67	6.70	5.72
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	38.76	36.86	32.15	32.51	41.90	55.82	64.13	48.46
Accounts Payable Turnover	0.00	12.35	14.10	13.76	13.31	16.34	19.07	23.73	21.54
Days Sales Outstanding (DSO)	0.00	63.90	59.75	63.80	64.65	57.23	54.76	54.50	63.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	29.56	25.88	26.53	27.43	22.34	19.14	15.38	16.95
Cash Conversion Cycle (CCC)	0.00	34.34	33.86	37.27	37.23	34.89	35.62	39.12	46.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	1,086	1,646	1,895	2,223	2,640	2,839	3,304	3,485
Invested Capital Turnover	0.00	6.56	2.90	2.21	1.78	1.73	1.99	2.20	1.88
Increase / (Decrease) in Invested Capital	0.00	1,086	560	249	328	417	199	465	180
Enterprise Value (EV)	0.00	2,553	4,114	3,749	3,764	5,384	7,129	10,684	7,423
Market Capitalization	500	500	4,098	3,667	3,441	4,787	6,578	9,796	6,581
Book Value per Share	$0.00	($52.25)	$16.42	$18.01	$18.59	$19.74	$21.81	$22.76	$24.81
Tangible Book Value per Share	$0.00	($101.74)	$3.25	$3.04	$2.74	$1.23	$2.09	($0.15)	$1.22
Total Capital	0.00	1,430	1,910	2,451	2,678	3,010	3,240	3,896	4,100
Total Debt	0.00	475	249	590	741	914	863	1,362	1,332
Total Long-Term Debt	0.00	475	249	540	741	855	863	898	1,332
Net Debt	0.00	130	-15	34	286	544	462	770	717
Capital Expenditures (CapEx)	26	29	64	32	20	30	40	49	67
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	201	187	219	258	408	454	557	685
Debt-free Net Working Capital (DFNWC)	0.00	483	382	706	602	671	727	1,010	1,152
Net Working Capital (NWC)	0.00	483	382	656	602	612	727	547	1,152
Net Nonoperating Expense (NNE)	15	-50	51	12	16	15	19	48	29
Net Nonoperating Obligations (NNO)	0.00	130	-15	34	286	544	462	770	717
Total Depreciation and Amortization (D&A)	28	63	127	133	147	124	123	107	122
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	5.66%	4.72%	5.58%	7.04%	9.73%	8.34%	8.25%	10.77%
Debt-free Net Working Capital to Revenue	0.00%	13.56%	9.66%	18.01%	16.43%	15.99%	13.35%	14.96%	18.10%
Net Working Capital to Revenue	0.00%	13.56%	9.66%	16.73%	16.43%	14.58%	13.35%	8.10%	18.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.30	$0.98	$0.62	$0.93	$1.53	$2.21	$2.26
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.30	$0.97	$0.59	$0.87	$1.42	$2.12	$2.20
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	100.67M	102.36M	103.67M	104.71M	105.83M	106.78M	105.83M
Normalized Net Operating Profit after Tax (NOPAT)	126	189	64	131	105	141	227	338	338
Normalized NOPAT Margin	4.19%	5.31%	1.63%	3.34%	2.86%	3.37%	4.17%	5.01%	5.30%
Pre Tax Income Margin	4.41%	7.30%	1.70%	4.12%	3.08%	3.96%	4.85%	5.45%	6.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.26	13.34	3.78	8.66	7.34	8.13	9.31	6.09	8.32
NOPAT to Interest Expense	8.00	9.07	7.91	6.25	5.91	6.10	7.21	4.84	6.58
EBIT Less CapEx to Interest Expense	7.64	11.95	1.09	7.11	6.22	6.84	8.05	5.39	7.01
NOPAT Less CapEx to Interest Expense	6.37	7.68	5.22	4.70	4.80	4.81	5.94	4.14	5.27
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.05%	7.89%	68.82%	4.89%	42.64%	19.06%	6.01%	10.05%	20.49%
Augmented Payout Ratio	46.05%	7.89%	73.40%	4.89%	67.04%	45.33%	11.30%	18.65%	60.96%

This table displays calculated financial ratios and metrics derived from Parsons' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	105,831,019.00	106,978,521.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	105,831,019.00	106,978,521.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.50	-0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.46%	30.87%	23.15%	27.60%	16.07%	1.22%	-5.16%	-10.41%	-7.52%	-4.07%	-0.53%
EBITDA Growth	22.98%	56.09%	29.64%	25.15%	9.73%	28.22%	-5.31%	-1.47%	9.84%	-4.93%	-56.03%
EBIT Growth	30.27%	87.85%	45.89%	40.60%	21.83%	38.30%	-10.36%	-6.32%	7.57%	-13.88%	-80.55%
NOPAT Growth	40.50%	84.90%	45.78%	37.03%	23.67%	8.15%	-13.29%	-0.85%	5.70%	-13.44%	-100.21%
Net Income Growth	59.73%	-361.12%	47.38%	43.10%	272.86%	48.72%	-12.67%	-4.43%	7.83%	-20.27%	-100.66%
EPS Growth	62.50%	-539.13%	65.79%	54.76%	374.36%	62.16%	-20.63%	-9.23%	8.51%	-18.33%	-128.00%
Operating Cash Flow Growth	113.25%	-605.45%	601.72%	46.89%	-33.33%	81.41%	-0.88%	-45.54%	32.15%	68.61%	-63.97%
Free Cash Flow Firm Growth	63.31%	41.45%	-0.01%	82.10%	-183.95%	1.99%	-207.24%	-669.93%	74.81%	-53.59%	-41.34%
Invested Capital Growth	7.53%	13.98%	7.38%	4.62%	16.38%	12.29%	14.78%	13.72%	5.46%	15.10%	15.12%
Revenue Q/Q Growth	5.33%	2.77%	8.78%	8.36%	-4.19%	-10.38%	1.93%	2.36%	-1.11%	-7.02%	5.68%
EBITDA Q/Q Growth	0.22%	11.27%	8.52%	3.41%	-12.12%	11.25%	-6.33%	7.61%	-2.04%	-3.71%	-56.68%
EBIT Q/Q Growth	-2.85%	21.96%	14.01%	4.09%	-15.82%	12.65%	-9.19%	8.79%	-3.34%	-9.80%	-79.50%
NOPAT Q/Q Growth	-6.33%	14.56%	22.32%	4.39%	-15.47%	15.21%	-14.72%	19.37%	-7.96%	-7.62%	-100.21%
Net Income Q/Q Growth	-2.93%	-258.66%	187.63%	6.03%	152.92%	-62.22%	-13.81%	16.04%	-8.56%	-12.81%	-100.71%
EPS Q/Q Growth	-7.14%	-358.97%	162.38%	3.17%	184.62%	-67.57%	-16.67%	18.00%	-13.56%	-3.92%	-128.57%
Operating Cash Flow Q/Q Growth	-6.61%	-133.36%	354.22%	85.47%	-57.61%	-109.30%	1,455.74%	1.91%	2.87%	-102.21%	1,656.32%
Free Cash Flow Firm Q/Q Growth	41.58%	-57.23%	60.51%	65.45%	-826.63%	25.17%	-28.26%	13.42%	69.81%	-358.07%	-18.03%
Invested Capital Q/Q Growth	-1.23%	6.40%	-1.65%	-0.82%	9.87%	4.79%	0.52%	-1.73%	1.88%	14.36%	0.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.57%	21.15%	21.04%	19.90%	21.32%	22.77%	21.99%	22.19%	23.03%	23.97%	18.74%
EBITDA Margin	7.65%	8.28%	8.26%	7.88%	7.23%	8.97%	8.25%	8.67%	8.59%	8.89%	3.65%
Operating Margin	5.18%	6.63%	6.67%	6.35%	5.76%	7.03%	6.04%	6.66%	6.56%	6.42%	0.08%
EBIT Margin	5.41%	6.42%	6.72%	6.46%	5.67%	7.13%	6.35%	6.75%	6.60%	6.40%	1.24%
Profit (Net Income) Margin	3.89%	-6.00%	4.83%	4.73%	12.48%	5.26%	4.45%	5.04%	4.66%	4.37%	-0.03%
Tax Burden Percent	80.35%	74.08%	78.27%	79.17%	77.10%	81.17%	79.04%	83.61%	78.95%	80.21%	-12.38%
Interest Burden Percent	89.44%	-126.22%	91.82%	92.47%	285.27%	90.89%	88.58%	89.32%	89.49%	85.14%	19.19%
Effective Tax Rate	19.65%	0.00%	21.73%	20.83%	22.90%	18.83%	20.96%	16.39%	21.05%	19.79%	112.38%
Return on Invested Capital (ROIC)	8.27%	9.31%	10.91%	11.13%	9.75%	11.80%	9.80%	11.25%	9.71%	8.71%	-0.02%
ROIC Less NNEP Spread (ROIC-NNEP)	7.44%	-13.71%	9.95%	10.24%	32.40%	11.02%	9.14%	9.99%	8.60%	7.63%	-0.05%
Return on Net Nonoperating Assets (RNNOA)	1.68%	-4.46%	2.97%	2.68%	8.13%	4.04%	2.91%	2.65%	2.41%	3.09%	-0.02%
Return on Equity (ROE)	9.95%	4.86%	13.88%	13.81%	17.88%	15.84%	12.70%	13.90%	12.12%	11.80%	-0.04%
Cash Return on Invested Capital (CROIC)	1.03%	-2.92%	3.67%	6.94%	-4.12%	-1.02%	-3.50%	-2.48%	4.63%	-5.29%	-7.45%
Operating Return on Assets (OROA)	6.54%	7.96%	8.44%	8.26%	7.44%	9.16%	7.75%	7.85%	7.46%	7.04%	1.32%
Return on Assets (ROA)	4.70%	-7.44%	6.07%	6.05%	16.37%	6.75%	5.43%	5.86%	5.27%	4.81%	-0.03%
Return on Common Equity (ROCE)	9.63%	4.68%	13.35%	13.29%	17.12%	15.23%	12.17%	13.33%	11.56%	11.36%	-0.03%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.75%	4.80%	5.72%	0.00%	12.94%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	62	71	87	91	77	89	76	90	83	77	-0.16
NOPAT Margin	4.16%	4.64%	5.22%	5.03%	4.44%	5.70%	4.77%	5.57%	5.18%	5.15%	-0.01%
Net Nonoperating Expense Percent (NNEP)	0.83%	23.02%	0.96%	0.89%	-22.65%	0.78%	0.65%	1.26%	1.11%	1.07%	0.03%
Return On Investment Capital (ROIC_SIMPLE)	1.92%	-	-	-	1.98%	2.29%	1.87%	2.26%	2.03%	1.73%	0.00%
Cost of Revenue to Revenue	75.43%	78.85%	78.96%	80.10%	78.68%	77.23%	78.01%	77.81%	76.97%	76.03%	81.27%
SG&A Expenses to Revenue	15.90%	14.39%	13.37%	13.60%	15.26%	15.70%	15.91%	16.04%	16.20%	17.97%	16.51%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.39%	14.52%	14.37%	13.55%	14.22%	15.75%	15.95%	15.53%	16.47%	17.55%	18.65%
Earnings before Interest and Taxes (EBIT)	81	99	112	117	98	111	101	110	106	95	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	114	127	138	143	125	139	131	141	138	133	57
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.88	4.05	5.41	4.76	4.05	2.58	3.05	3.46	2.49	2.16	2.13
Price to Tangible Book Value (P/TBV)	30.04	90.28	66.87	150.11	0.00	894.62	0.00	161.20	50.82	0.00	0.00
Price to Revenue (P/Rev)	1.21	1.50	1.96	1.69	1.45	0.93	1.15	1.36	1.03	0.91	0.89
Price to Earnings (P/E)	40.82	308.08	221.62	139.93	41.68	24.18	30.98	36.94	27.29	25.16	35.60
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.45%	0.32%	0.45%	0.71%	2.40%	4.14%	3.23%	2.71%	3.66%	3.97%	2.81%
Enterprise Value to Invested Capital (EV/IC)	2.51	3.12	4.23	3.89	3.23	2.12	2.48	2.84	2.13	1.77	1.73
Enterprise Value to Revenue (EV/Rev)	1.31	1.66	2.10	1.80	1.58	1.08	1.29	1.50	1.17	1.12	1.10
Enterprise Value to EBITDA (EV/EBITDA)	17.13	20.86	25.98	22.42	20.04	13.00	15.51	17.53	13.53	13.05	14.81
Enterprise Value to EBIT (EV/EBIT)	24.30	28.38	34.21	28.65	25.07	16.05	19.39	22.19	17.39	17.17	20.99
Enterprise Value to NOPAT (EV/NOPAT)	31.40	32.79	40.58	34.72	31.57	21.22	25.86	29.17	21.99	21.70	28.05
Enterprise Value to Operating Cash Flow (EV/OCF)	17.49	27.27	26.08	19.94	20.40	12.74	15.05	22.21	15.52	14.53	18.05
Enterprise Value to Free Cash Flow (EV/FCFF)	253.23	0.00	119.26	57.31	0.00	0.00	0.00	0.00	47.24	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.63	0.60	0.56	0.54	0.52	0.54	0.50	0.48	0.61	0.59
Long-Term Debt to Equity	0.36	0.60	0.58	0.51	0.35	0.35	0.51	0.50	0.48	0.59	0.58
Financial Leverage	0.23	0.32	0.30	0.26	0.25	0.37	0.32	0.27	0.28	0.41	0.39
Leverage Ratio	2.01	2.14	2.16	2.18	2.10	2.20	2.22	2.20	2.12	2.16	2.20
Compound Leverage Factor	1.80	-2.70	1.98	2.02	5.98	2.00	1.96	1.97	1.90	1.84	0.42
Debt to Total Capital	26.65%	38.57%	37.61%	35.80%	34.95%	34.29%	35.15%	33.37%	32.49%	37.85%	37.30%
Short-Term Debt to Total Capital	0.00%	1.51%	1.42%	3.07%	11.89%	11.23%	2.10%	0.00%	0.00%	0.97%	0.92%
Long-Term Debt to Total Capital	26.65%	37.06%	36.19%	32.73%	23.06%	23.06%	33.05%	33.37%	32.49%	36.88%	36.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.76%	2.56%	2.72%	2.71%	3.03%	2.37%	2.62%	2.67%	3.07%	2.36%	2.65%
Common Equity to Total Capital	70.59%	58.87%	59.67%	61.49%	62.02%	63.34%	62.24%	63.96%	64.45%	59.80%	60.04%
Debt to EBITDA	2.07	3.05	2.83	2.58	2.55	2.36	2.55	2.41	2.43	3.10	3.49
Net Debt to EBITDA	1.11	1.82	1.44	1.14	1.44	1.63	1.54	1.36	1.31	2.27	2.59
Long-Term Debt to EBITDA	2.07	2.93	2.73	2.36	1.69	1.58	2.40	2.41	2.43	3.02	3.40
Debt to NOPAT	3.80	4.79	4.43	3.99	4.02	3.84	4.25	4.01	3.95	5.15	6.61
Net Debt to NOPAT	2.04	2.86	2.26	1.76	2.27	2.65	2.57	2.27	2.12	3.78	4.91
Long-Term Debt to NOPAT	3.80	4.61	4.26	3.65	2.65	2.59	4.00	4.01	3.95	5.02	6.45
Altman Z-Score	3.06	3.31	4.01	3.71	3.51	2.86	3.05	3.29	2.88	2.54	2.41
Noncontrolling Interest Sharing Ratio	3.17%	3.55%	3.82%	3.80%	4.23%	3.87%	4.19%	4.11%	4.60%	3.71%	4.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.52	1.79	1.80	1.55	1.29	1.29	1.61	1.67	1.75	1.75	1.66
Quick Ratio	0.84	1.07	1.10	0.97	0.81	0.75	0.98	1.04	1.04	0.93	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-137	-307	-121	-42	-388	-290	-372	-322	-97	-446	-526
Operating Cash Flow to CapEx	2,056.16%	-672.25%	1,750.37%	2,561.75%	677.31%	-87.49%	1,699.83%	1,241.14%	538.07%	-24.80%	356.96%
Free Cash Flow to Firm to Interest Expense	-14.97	-1.37	-9.32	-3.21	0.00	-23.71	-29.63	-23.82	-7.52	-27.88	-32.13
Operating Cash Flow to Interest Expense	20.83	-0.28	12.39	22.94	0.00	-0.96	12.71	12.03	12.93	-0.23	3.51
Operating Cash Flow Less CapEx to Interest Expense	19.82	-0.33	11.69	22.05	0.00	-2.06	11.97	11.06	10.53	-1.16	2.53
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.21	1.24	1.26	1.28	1.31	1.28	1.22	1.16	1.13	1.10	1.06
Accounts Receivable Turnover	6.67	6.50	6.14	6.71	6.70	6.30	6.05	5.75	5.72	5.67	5.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	55.82	60.07	63.25	64.93	64.13	61.47	60.49	57.21	48.46	45.60	44.59
Accounts Payable Turnover	19.07	18.74	19.51	18.03	23.73	18.96	19.40	17.71	21.54	18.68	18.35
Days Sales Outstanding (DSO)	54.76	56.19	59.43	54.43	54.50	57.92	60.37	63.47	63.80	64.34	67.11
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	19.14	19.48	18.71	20.25	15.38	19.25	18.81	20.61	16.95	19.54	19.90
Cash Conversion Cycle (CCC)	35.62	36.71	40.72	34.18	39.12	38.67	41.56	42.87	46.85	44.80	47.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,839	3,083	3,032	3,007	3,304	3,462	3,480	3,420	3,485	3,985	4,007
Invested Capital Turnover	1.99	2.01	2.09	2.21	2.20	2.07	2.05	2.02	1.88	1.69	1.68
Increase / (Decrease) in Invested Capital	199	378	208	133	465	379	448	413	180	523	526
Enterprise Value (EV)	7,129	9,634	12,819	11,704	10,684	7,331	8,635	9,718	7,423	7,068	6,936
Market Capitalization	6,578	8,701	12,005	11,009	9,796	6,322	7,670	8,855	6,581	5,733	5,605
Book Value per Share	$21.81	$14.65	$15.12	$21.78	$22.76	$22.98	$23.54	$23.95	$24.81	$25.04	$24.60
Tangible Book Value per Share	$2.09	$0.66	$1.22	$0.69	($0.15)	$0.07	($0.07)	$0.51	$1.22	($1.72)	($1.63)
Total Capital	3,240	3,651	3,718	3,761	3,896	3,874	4,042	3,999	4,100	4,431	4,382
Total Debt	863	1,408	1,398	1,346	1,362	1,328	1,421	1,334	1,332	1,677	1,635
Total Long-Term Debt	863	1,353	1,345	1,231	898	894	1,336	1,334	1,332	1,634	1,594
Net Debt	462	840	713	593	770	916	859	755	717	1,231	1,215
Capital Expenditures (CapEx)	9.25	9.43	9.21	12	19	13	9.40	13	31	15	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	454	705	671	462	557	701	660	639	685	873	857
Debt-free Net Working Capital (DFNWC)	727	1,129	1,200	1,021	1,010	971	1,071	1,061	1,152	1,157	1,123
Net Working Capital (NWC)	727	1,074	1,147	905	547	536	986	1,061	1,152	1,115	1,083
Net Nonoperating Expense (NNE)	4.17	163	6.49	5.45	-140	6.87	5.12	8.47	8.28	12	0.30
Net Nonoperating Obligations (NNO)	462	840	713	593	770	916	859	755	717	1,231	1,259
Total Depreciation and Amortization (D&A)	33	29	26	26	27	29	30	31	32	37	38
Debt-free, Cash-free Net Working Capital to Revenue	8.34%	12.15%	10.97%	7.09%	8.25%	10.35%	9.87%	9.83%	10.77%	13.86%	13.63%
Debt-free Net Working Capital to Revenue	13.35%	19.44%	19.60%	15.68%	14.96%	14.34%	16.03%	16.34%	18.10%	18.37%	17.85%
Net Working Capital to Revenue	13.35%	18.49%	18.74%	13.90%	8.10%	7.91%	14.76%	16.34%	18.10%	17.69%	17.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.43	($1.01)	$0.65	$0.68	$1.89	$0.62	$0.52	$0.60	$0.52	$0.49	($0.14)
Adjusted Weighted Average Basic Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M
Adjusted Diluted Earnings per Share	$0.39	($1.01)	$0.63	$0.65	$1.85	$0.60	$0.50	$0.59	$0.51	$0.49	($0.14)
Adjusted Weighted Average Diluted Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	105.83M	146.75M	106.19M	106.19M	106.78M	106.87M	106.79M	106.49M	105.83M	106.98M	106.81M
Normalized Net Operating Profit after Tax (NOPAT)	62	71	87	91	77	89	76	90	83	77	0.91
Normalized NOPAT Margin	4.16%	4.64%	5.22%	5.03%	4.44%	5.70%	4.77%	5.57%	5.18%	5.15%	0.06%
Pre Tax Income Margin	4.84%	-8.10%	6.17%	5.97%	16.19%	6.48%	5.63%	6.03%	5.91%	5.45%	0.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.85	0.44	8.63	8.97	0.00	9.05	8.01	8.09	8.17	5.97	1.19
NOPAT to Interest Expense	6.82	0.32	6.70	6.98	0.00	7.24	6.02	6.67	6.41	4.80	-0.01
EBIT Less CapEx to Interest Expense	7.84	0.40	7.93	8.07	0.00	7.95	7.26	7.12	5.77	5.04	0.21
NOPAT Less CapEx to Interest Expense	5.80	0.28	6.00	6.09	0.00	6.14	5.27	5.70	4.01	3.86	-0.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.01%	28.71%	23.72%	22.19%	10.05%	18.88%	19.21%	20.77%	20.49%	18.78%	24.76%
Augmented Payout Ratio	11.30%	34.92%	35.93%	32.02%	18.65%	34.63%	37.11%	47.13%	60.96%	64.96%	85.75%

Financials Breakdown Chart

Key Financial Trends

Parsons (NYSE: PSN) has delivered strong top-line growth over the last four years, but the latest quarter shows a notable shift in cash generation and capital structure. Revenue continues to trend higher on a year-over-year basis, aided by acquisitions and ongoing demand, but margins have been somewhat uneven and the balance sheet has become more levered. The most recent quarter also showed negative operating cash flow, which is an important watch item for investors.

Revenue has grown materially over the long term. Q1 2026 revenue was $1.49 billion, up from $1.17 billion in Q1 2023, showing solid multi-year expansion.
Gross profit has generally held up despite higher costs. In Q1 2026, gross profit was $357.4 million on $1.49 billion of revenue, indicating Parsons is still converting a meaningful share of sales into gross profit.
Operating income remained positive and stable at a high level. Q1 2026 operating income was $95.7 million, versus $109.2 million in Q1 2025 and $51.1 million in Q1 2023, suggesting the business remains profitable even as growth investment continues.
Net income is still positive. Q1 2026 net income attributable to common shareholders was $52.9 million, or $0.49 per share.
The company keeps generating profits across the cycle. Across the periods provided, Parsons remained profitable in each quarter, which is a constructive sign for a government/engineering services business.
Liquidity is still adequate. As of Q1 2026, Parsons had $283.9 million of cash and equivalents.
Equity base has expanded meaningfully. Total common equity rose to $2.65 billion in Q1 2026 from $2.15 billion in Q1 2024, reflecting growth in the business and acquisition-driven expansion.
Depreciation and amortization are manageable relative to earnings. This suggests reported earnings are not being overly distorted by large non-cash charges.
Acquisitions have been a major part of the story. Parsons recorded sizable acquisition-related cash outflows in multiple quarters, including $357.2 million in Q1 2026, which likely supports growth but also adds integration risk.
Goodwill and intangibles have grown significantly. Goodwill reached $2.42 billion in Q1 2026, up from $1.66 billion in Q1 2023, meaning a larger portion of the asset base is tied to acquisition accounting.
Share count has drifted lower in recent quarters, which is mildly supportive for EPS, but the effect has been modest so far.
Operating cash flow turned negative in Q1 2026. Net cash from operating activities was -$3.7 million, compared with +$167.5 million in Q4 2025 and +$159.8 million in Q2 2025, a sharp deterioration that investors should not ignore.
Cash declined sharply in the latest quarter. Cash and equivalents fell to $283.9 million from $422.6 million in Q3 2025.
Debt increased again in Q1 2026. Short-term debt rose to $42.8 million and long-term debt increased to $1.51 billion, pushing total debt higher and increasing financial leverage.
Interest burden remains meaningful. In Q1 2026, interest expense was $16.0 million, which continues to absorb a portion of operating profit.
Margins appear to be under pressure versus the stronger 2024 period. Q1 2026 operating margin was about 6.4%, below the 2024 peaks seen in several quarters, suggesting some dilution from cost growth and mix.
Working capital was a drag in the latest quarter. Changes in operating assets and liabilities reduced cash flow, indicating that earnings have not translated cleanly into cash.

Bottom line: Parsons still looks like a growing, profitable business, but the latest quarter raises some caution flags. Revenue and earnings remain positive, yet the company’s cash flow weakened materially, debt moved higher, and goodwill has continued to build. For retail investors, the key question is whether Parsons can restore stronger operating cash conversion while continuing to grow the top line.

08/04/26 01:08 AM ETAI Generated. May Contain Errors.

Parsons Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Parsons' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Parsons' net income appears to be on an upward trend, with a most recent value of $308.86 million in 2025, rising from $111.54 million in 2017. The previous period was $290.67 million in 2024. Check out Parsons' forecast to explore projected trends and price targets.

Parsons' total operating income in 2025 was $418.07 million, based on the following breakdown:

Total Gross Profit: $1.43 billion
Total Operating Expenses: $1.01 billion

Over the last 8 years, Parsons' total revenue changed from $3.02 billion in 2017 to $6.36 billion in 2025, a change of 110.9%.

Parsons' total liabilities were at $3.00 billion at the end of 2025, a 1.6% increase from 2024, and a 81.1% increase since 2018.

In the past 7 years, Parsons' cash and equivalents has ranged from $182.69 million in 2019 to $483.61 million in 2020, and is currently $466.39 million as of their latest financial filing in 2025.

Over the last 8 years, Parsons' book value per share changed from 0.00 in 2017 to 24.81 in 2025, a change of 2,481.0%.

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Financial statements for NYSE:PSN last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Parsons (PSN) Financials

Financials Breakdown Chart

Key Financial Trends

Parsons Financials - Frequently Asked Questions

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Parsons (PSN) Financials

Annual Income Statements for Parsons

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Quarterly Cash Flow Statements for Parsons

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Quarterly Balance Sheets for Parsons

Annual Metrics And Ratios for Parsons

Quarterly Metrics And Ratios for Parsons

Financials Breakdown Chart

Key Financial Trends

Parsons Financials - Frequently Asked Questions

When does Parsons' financial year end?

How has Parsons' net income changed over the last 8 years?

What is Parsons' operating income?

How has Parsons' revenue changed over the last 8 years?

How much debt does Parsons have?

How much cash does Parsons have?

How has Parsons' book value per share changed over the last 8 years?

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