Financial Performance - Annual revenues reached $14.4 billion, representing a 4% growth on a pro forma basis[1] - Annual net income was $66 million, with annual adjusted EBITDA of $1,104 million[1] - Revenues for the year ended October 3, 2025, were $14,393 million, with an operating income of $1,089 million[47] - Adjusted EBITDA for the year ended October 3, 2025, was $1,104 million, with an EBITDA margin of 7.7%[47] - Net income attributable to common shareholders for the year was $542 million, resulting in a net income margin of 3.8%[47] - Basic income per share attributable to common shareholders was $2.23 for the year ended October 3, 2025[47] - Revenues for the three months ended October 3, 2025, were $3,925 million, a 77.4% increase from $2,212 million for the same period in 2024[31] - Net income attributable to common shareholders for the three months ended October 3, 2025, was $40 million, compared to $26 million for the same period in 2024, representing a 53.8% increase[31] - Revenues for the three months ended September 27, 2024, were $3,565 million, with an operating income of $269 million[56] - For the fiscal year ended September 27, 2024, revenues reached $13,858 million, and operating income was $1,030 million[59] Backlog and Contracts - Backlog totaled $47.1 billion, with a book-to-bill ratio of 1.2x for the full year[13] - Amentum secured a $4 billion contract with the U.S. Space Force, enhancing its backlog[14] - The company reported a backlog as an operational measure, indicating future revenue potential under negotiated contracts, although specific figures were not disclosed[30] Debt and Cash Management - The company reduced net debt to $3.6 billion, achieving a net leverage ratio of 3.2x[1] - For fiscal year 2025, Net Leverage was 3.2x, with total debt of $4,008 million and cash and cash equivalents of $437 million, resulting in Adjusted EBITDA of $1,104 million[40] - Total assets decreased from $11,974 million as of September 27, 2024, to $11,460 million as of October 3, 2025[34] - Total liabilities decreased from $7,422 million as of September 27, 2024, to $6,840 million as of October 3, 2025[34] - The company had cash and cash equivalents of $437 million as of October 3, 2025, slightly down from $452 million as of September 27, 2024[34] - The company experienced a net cash provided by operating activities of $270 million for the three months ended October 3, 2025, compared to a net cash used of $113 million for the same period in 2024[35] Adjusted EBITDA and Non-Operating Expenses - Pro forma adjusted EBITDA increased by 8% for Q4 and 5% for the full year, driven by higher revenues[7] - Adjusted EBITDA for fiscal year 2025 was $516 million, with a Free Cash Flow of $516 million after deducting $27 million for property and equipment purchases[39] - Non-operating expenses for the year totaled $345 million, impacting overall income before income taxes of $744 million[47] - Acquisition, transaction, and integration costs for the year amounted to $85 million, contributing to the operating income adjustments[47] - Stock-based compensation expenses recognized for the year were $21 million, affecting the overall non-GAAP results[47] - Non-operating expenses for the three months ended September 27, 2024, totaled $(98) million, impacting overall income before income taxes[56] - Acquisition, transaction, and integration costs for the fiscal year were $62 million, contributing to the overall operating income[59] Earnings Per Share - Basic earnings per share attributable to common shareholders for the three months ended October 3, 2025, were $0.16, compared to $0.28 for the same period in 2024[31] - The reconciliation of Adjusted EBITDA to GAAP measures highlights the impact of various non-cash and one-time expenses on financial performance[51] - The company reported a diluted income per share of $2.22 for the year ended October 3, 2025[47] - Net income attributable to common shareholders for the three months ended September 27, 2024, was $(16) million, translating to a basic and diluted loss per share of $(0.06)[56] - For the fiscal year ended September 27, 2024, net income attributable to common shareholders was $487 million, with a basic and diluted income per share of $2.00[59] - The net income margin for the three months ended September 27, 2024, was (0.4)%, while for the fiscal year it was 3.5%[59]
Amentum Holdings, Inc.(AMTM) - 2025 Q4 - Annual Results