Huntington Ingalls Industries (HII) financial statements
Huntington Ingalls Industries reported revenue of $12.5B in fiscal 2025, up 6.5% a year over 9 years.
Net income was $605M and the operating margin 5.3%, against 12.4% in 2016.
Free cash flow was $794M, and the company returned $213M in dividends.
The diluted share count fell 17% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Huntington Ingalls Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1B | $7.4B | $8.2B | $8.9B | $9.4B | $9.5B | $10.7B | $11.5B | $11.5B | $12.5B |
| Cost of revenue | $4.4B | $4.4B | — | — | — | — | — | — | — | — |
| Gross profit | $2.7B | $3.0B | — | — | — | — | — | — | — | — |
| Research and development | $19M | $17M | $25M | $23M | $31M | $34M | $40M | $35M | $27M | $26M |
| Selling, general and admin | $768M | $759M | $871M | $788M | $904M | $898M | $924M | $1.0B | $973M | $977M |
| Operating income | $876M | $881M | $951M | $736M | $799M | $513M | $565M | $781M | $535M | $657M |
| Interest expense | $74M | $94M | $58M | $70M | $114M | $89M | $102M | $95M | $95M | $105M |
| Pre-tax income | $784M | $772M | $971M | $683M | $810M | $622M | $719M | $853M | $643M | $777M |
| Income tax | $211M | $293M | $135M | $134M | $114M | $78M | $140M | $172M | $93M | $172M |
| Net income | $573M | $479M | $836M | $549M | $696M | $544M | $579M | $681M | $550M | $605M |
| EPS (diluted) | $12.14 | $10.46 | $19.09 | $13.26 | $17.14 | $13.50 | $14.44 | $17.07 | $13.96 | $15.39 |
| Diluted shares | 47M | 46M | 44M | 41M | 41M | 40M | 40M | 40M | 39M | 39M |
| Gross margin | 38.0% | 40.3% | — | — | — | — | — | — | — | — |
| Operating margin | 12.4% | 11.8% | 11.6% | 8.3% | 8.5% | 5.4% | 5.3% | 6.8% | 4.6% | 5.3% |
| Net margin | 8.1% | 6.4% | 10.2% | 6.2% | 7.4% | 5.7% | 5.4% | 5.9% | 4.8% | 4.8% |
Balance sheet
Fiscal years, from Huntington Ingalls Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $720M | $701M | $240M | $75M | $512M | $627M | $467M | $430M | $831M | $774M |
| Receivables | $1.2B | $429M | $252M | $318M | $397M | $433M | $636M | $461M | $212M | $339M |
| Total current assets | $2.1B | $2.2B | $1.7B | $1.8B | $2.4B | $2.8B | $2.7B | $2.9B | $3.2B | $3.5B |
| Property, plant and equipment | $2.0B | $2.2B | $2.5B | $2.8B | $3.0B | $3.1B | $3.2B | $3.3B | $3.5B | $3.7B |
| Goodwill | $1.2B | $1.2B | $1.3B | $1.4B | $1.6B | $2.6B | $2.6B | $2.6B | $2.6B | $2.6B |
| Total assets | $6.4B | $6.4B | $6.4B | $7.0B | $8.2B | $10.6B | $10.9B | $11.2B | $12.1B | $12.7B |
| Total current liabilities | $1.3B | $1.4B | $1.8B | $1.9B | $2.2B | $2.4B | $2.9B | $3.0B | $3.0B | $3.0B |
| Long-term debt | $1.3B | $1.3B | $1.3B | $1.3B | $1.7B | $3.3B | $2.5B | $2.2B | $2.7B | $2.7B |
| Total liabilities | $4.7B | $4.6B | $4.9B | $5.4B | $6.3B | $7.8B | $7.4B | $7.1B | $7.5B | $7.7B |
| Shareholders' equity | $1.7B | $1.8B | $1.5B | $1.6B | $1.9B | $2.8B | $3.5B | $4.1B | $4.7B | $5.1B |
| Net debt | $558M | $578M | $1.0B | $1.2B | $1.2B | $2.7B | $2.4B | $2.0B | $2.4B | $1.9B |
Cash flow
Fiscal years, from Huntington Ingalls Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $822M | $814M | $914M | $896M | $1.1B | $760M | $766M | $970M | $393M | $1.2B |
| Capital spending | $285M | $382M | $463M | $530M | $353M | $331M | $284M | $292M | $367M | $402M |
| Free cash flow | $537M | $432M | $451M | $366M | $740M | $429M | $482M | $678M | $26M | $794M |
| Stock-based compensation | $36M | $34M | $36M | $30M | $23M | $33M | $36M | $34M | $23M | $54M |
| Dividends paid | $98M | $115M | $132M | $149M | $172M | $186M | $192M | $200M | $206M | $213M |
| Share buybacks (net) | -$194M | -$286M | -$742M | -$262M | -$84M | -$101M | -$52M | -$75M | -$162M | — |
| Net borrowing | — | $0 | — | — | $400M | $1.6B | -$400M | -$480M | $771M | -$500M |
| Free cash flow margin | 7.6% | 5.8% | 5.5% | 4.1% | 7.9% | 4.5% | 4.5% | 5.9% | 0.2% | 6.4% |
| Dividends per share | $2.08 | $2.51 | $3.01 | $3.60 | $4.24 | $4.62 | $4.79 | $5.01 | $5.23 | $5.42 |
Questions
What was Huntington Ingalls Industries's revenue in 2025?
$12.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Huntington Ingalls Industries generate?
$794M in fiscal 2025 (operating cash flow minus capital spending).
From Huntington Ingalls Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.