Leidos (LDOS) Stock May Be 43% Below Fair Value Despite Cyber Contract Win

Leidos Holdings has delivered a 57.6% gain over the past three years, which focuses attention on a simple question for anyone looking at the stock today: Is the current share price, with all the recent contract wins and headlines, in line with the cash the business is expected to generate over time? The stock’s 57.6% return over three years puts real weight on whether that move is supported by the underlying cash flows or mostly by changing sentiment. Fresh deals, including a US$160 million...