Amentum Holdings, Inc.
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Range $20 – $35
Price Chart
About the company
Amentum Holdings, Inc. is a provider of critical, technology-driven services, serving both governmental and commercial sectors. Its operations are structured around two distinct segments: Critical Mission Solutions and Cyber & Intelligence.
- CEO
- John E. Heller
- IPO
- 2024
- Employees
- 50,000
- HQ
- Chantilly, VA, US
AI snapshot
Six angles, distilled from the data.
AMTM is still in a young post-IPO trading regime, with the stock well below its 52-week high of 38.11 but above the 52-week low of 17.72. The 200-day average at 25.563 is the key pivot: reclaiming and holding above it would signal a healthier multi-month trend, while failure keeps the chart in repair mode.
Street sentiment is constructive but not aggressive, with a 3.5833 consensus built from 2 Buy, 6 Hold, and 1 Sell ratings. The 29.5 average target sits above the 200-day average and implies upside from current levels, but the mix still points to a cautious, wait-for-proof stance rather than broad conviction.
AMTM has a strong beat streak, going 7-for-7 on reported quarters, including recent EPS beats of 8.5%, 7.0%, and 3.8%. Next-year EPS is modeled at 2.6395 versus TTM EPS of 0.83, so shareholders should watch whether margin discipline and contract execution can support that step-up.
No notable insider buying or selling in recent quarters. With no reported transactions, the stock’s near-term signal is coming more from operating execution and contract flow than from insider conviction.
Profitability is modest but positive, with a 4.38% operating margin, 1.44% net margin, and 3.08% ROA. Revenue fell 2% year over year, but earnings still grew 5.75%, and free cash flow was strong at $570 million, or $2.33 per share.
AMTM’s edge is scale and government-services breadth, with 50,000 employees across digital solutions and global engineering. The tradeoff is thinner margins than higher-quality peers, so the setup favors a valuation that depends on execution rather than premium profitability.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $4.58B
- P/E
- 22.63
- Fwd P/E
- 7.11
- PEG
- 0.04
- P/S
- 0.32
- P/B
- 0.98
- EV/EBITDA
- 8.32
- Div Yield
- 0.00%
- Gross Margin
- 8.73%
- Op Margin
- 4.10%
- Net Margin
- 1.44%
- ROE
- 4.44%
- ROIC
- 4.71%
Latest fiscal year · YoY change
- Revenue
- $14.39B+71.6%
- Gross Profit
- $1.03B+29.6%
- Op Income
- $503.00M
- Net Income
- $66.00M+180.5%
- EPS
- $0.27+130.0%
- OCF Growth
- +1055.3%
- FCF Growth
- +1333.3%
- 52W High
- $38.11
- 52W Low
- $17.72
- 50D MA
- $20.71
- 200D MA
- $25.51
- Beta
- 0.31
- RSI (14)
- 40
- Avg Volume
- 2.01M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Amentum delivered better-than-expected profitability and cash flow in Q3, raised FY26 EBITDA/EPS guidance, and pointed to stronger long-term growth in nuclear and digital infrastructure despite near-term revenue pressure from protests, procurement delays, and NASA insourcing.· August 11, 2026
- Q3 revenue was $3.5 billion, adjusted EBITDA was $290 million, adjusted EBITDA margin was 8.3%, adjusted EPS was $0.67, and free cash flow was $135 million.
- Revenue was slightly below expectations because of protest delays and low-margin material volume, but profitability and cash were stronger than expected.
- FY26 guidance was updated to $13.8 billion-$13.95 billion of revenue, $1.115 billion-$1.14 billion of adjusted EBITDA, $2.40-$2.50 of adjusted EPS, and $525 million-$575 million of free cash flow.
- Backlog and bookings remained strong: net bookings were $3.9 billion, book-to-bill was 1.1x for the quarter and 1.3x trailing 12 months, and ending backlog was $48 billion.
- Management highlighted major wins and partnerships in nuclear, digital infrastructure, national security, and NASA, while warning that NASA insourcing will create a 3% revenue headwind in FY27.
Amentum reported Q3 FY26 revenue of $3.5 billion, up 1% on a normalized basis, adjusted EBITDA of $290 million, up 6% year over year, adjusted EBITDA margin of 8.3%, up 60 basis points, and adjusted diluted EPS of $0.67, up 20% year over year. Free cash flow was $135 million in the quarter and $213 million year to date. Business development remained solid with net bookings of $3.9 billion, quarterly book-to-bill of 1.1x, trailing 12-month book-to-bill of 1.3x, ending backlog of $48 billion, and funded backlog up 10% year over year to $6.2 billion. For FY26, the company now expects revenue of $13.8 billion-$13.95 billion, adjusted EBITDA of $1.115 billion-$1.14 billion, adjusted diluted EPS of $2.40-$2.50, and free cash flow of $525 million-$575 million. Looking to FY27, management said NASA insourcing is expected to reduce revenue by 3%, it has also chosen to exit about 1% of revenue in low- and no-margin domestic programs, and it expects mid-single-digit growth in the remaining portfolio, with a 20 basis point year-over-year margin increase.
John Heller emphasized that the quarter showed strong operational execution even though revenue was a bit light. He framed the strategy around shifting toward higher-margin, technology-enabled work and said the company is seeing real momentum in nuclear energy, critical digital infrastructure, and global defense. His tone was confident and constructive, stressing that the business does not require transformational M&A to execute its growth plan.
Travis Johnson focused on the financial strength of the quarter and the revised outlook. He said margins benefited from favorable mix, strong operations, and lower interest expense from nearly $700 million of debt repayments over the last 12 months plus the April refinancing. He also pointed to free cash flow of $135 million in the quarter, $213 million year to date, $125 million of debt repayments in the quarter, and net leverage of 3x at quarter-end, with the company expecting to get below 3x in Q4 and remaining focused on capital deployment toward the highest long-term returns.
Analysts pressed on how capital will be deployed now that deleveraging is near completion, and management said it is weighing M&A, share repurchases, and continued debt reduction, but will be disciplined and value-driven. They also asked about FY27 growth by segment, backlog conversion, NASA, and portfolio shaping; management said 92% of FY27 revenue is expected to come from existing or follow-on work, NASA is now assumed to be a 3% revenue headwind, and the low-margin exits are intentional and only about 1% of revenue. On nuclear and digital infrastructure, management said both markets are seeing strong pipelines and that the Savannah River project, Rolls-Royce, and Westinghouse partnerships could become major long-term growth drivers.
The bull case is that Amentum is already converting strong bookings into better margins and cash, while building a large backlog and funded backlog base. Management is also pointing to tangible growth opportunities in nuclear energy and digital infrastructure, plus a 3x leverage milestone that opens the door to more flexible capital deployment.
The bear case is that near-term revenue is being held back by protest delays, procurement timing, low-margin material volume, and NASA insourcing, which management now estimates will hit FY27 revenue by 3%. Management also acknowledged that some growth engines, especially nuclear projects, may take years to turn into meaningful revenue, so the strongest strategic wins may not offset near-term pressure quickly.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 80.7%
- Shares Outstanding
- 244.09M
- Float Shares
- 196.90M
of shares held by institutions
514 13F filers
Buy/sell ratio 0.50. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for AMTM, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| American Securities LLC | 45.03M | 0 |
| Invesco Ltd. | 24.95M | ▲ 3.48M |
| Blackrock, Inc. | 17.91M | ▲ 65.70K |
| Vanguard Group Inc | 15.41M | ▼ 142.95K |
| Primecap Management Co | 12.29M | ▲ 200.21K |
| Legacy Advisors, LLC | 9.07M | ▲ 1.40K |
| Vanguard Portfolio Management LLC | 7.95M | ▲ 95.43K |
| Vanguard Capital Management LLC | 6.71M | ▲ 61.11K |
| Fmr LLC | 5.68M | ▲ 100.79K |
| Dimensional Fund Advisors LP | 5.54M | ▲ 1.75M |
| State Street Corp | 5.15M | ▲ 72.73K |
| Frontier Capital Management Co LLC | 4.14M | ▼ 786.24K |
Held by 369 ETFs
Biggest fund positions in AMTM by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 14, 26 | Thompson Christopher M.T. | other | 4,250 |
| May 6, 26 | Heller John E. | other | 18,145 |
| May 6, 26 | Heller John E. | other | 8,184 |
| May 6, 26 | Heller John E. | other | 18,145 |
| May 6, 26 | Mullen Sean Thomas | other | 9,072 |
| May 6, 26 | Mullen Sean Thomas | other | 2,762 |
| May 6, 26 | Mullen Sean Thomas | other | 9,072 |
| May 6, 26 | Johnson Travis Barton | other | 13,609 |
| May 6, 26 | Johnson Travis Barton | other | 4,097 |
| May 6, 26 | Johnson Travis Barton | other | 13,609 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our AMTM coverage
Recent articles, reports, and earnings notes.

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Want a deeper read on AMTM?
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Amentum Joint Venture Secures Preferred Position for Major UK Nuclear Contract
gurufocus.com · Sep 30
Amentum Joint Venture Secures Preferred Position for Major UK Nuclear Contract
businesswire.com · Sep 30
New Industry Survey Reinforces Nuclear's Growth Outlook
etftrends.com · Sep 28
Amentum Holdings, Inc. (NYSE:AMTM) Receives Average Rating of “Hold” from Brokerages
defenseworld.net · Sep 22
Amentum Selected for Projects to Upgrade and Protect the UK Energy Grid
businesswire.com · Sep 1
AWH Capital L.P. Invests $4.86 Billion in Amentum Holdings, Inc. $AMTM
defenseworld.net · Aug 28
Amentum Wins $974M Center Maintenance, Operations, and Engineering Contract at NASA Langley Research Center
businesswire.com · Aug 20
Amentum to Support Critical Infrastructure and Platforms Under New Engineering Services Framework
gurufocus.com · Aug 19
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 5, 2026 · Live quote · Not investment advice