Parsons (PSN) financial statements
Parsons reported revenue of $6.4B in fiscal 2025, up 9.8% a year over 8 years.
Net income was $241M and the operating margin 6.6%, against 5.0% in 2017.
Free cash flow was $410M, and the company returned $125M in net buybacks.
The diluted share count rose 31% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Parsons's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.6B | $4.0B | $3.9B | $3.7B | $4.2B | $5.4B | $6.8B | $6.4B |
| Cost of revenue | $2.4B | $2.8B | $3.1B | $3.0B | $2.8B | $3.2B | $4.2B | $5.3B | $4.9B |
| Gross profit | $617M | $766M | $832M | $877M | $853M | $947M | $1.2B | $1.4B | $1.4B |
| Selling, general and admin | $506M | $597M | $781M | $729M | $757M | $777M | $870M | $955M | $1.0B |
| Operating income | $151M | $205M | $92M | $178M | $132M | $186M | $288M | $428M | $418M |
| Interest expense | $16M | $21M | $24M | $21M | $18M | $23M | $31M | $52M | $51M |
| Pre-tax income | $133M | $260M | $67M | $161M | $113M | $166M | $264M | $368M | $383M |
| Income tax | $21M | $20M | -$70M | $42M | $24M | $40M | $56M | $77M | $74M |
| Net income | $97M | $222M | $121M | $99M | $64M | $97M | $161M | $235M | $241M |
| EPS (diluted) | $1.16 | $2.78 | $1.30 | $0.97 | $0.59 | $0.87 | $1.42 | $2.12 | $2.20 |
| Diluted shares | 84M | 80M | 93M | 101M | 112M | 113M | 115M | 112M | 110M |
| Gross margin | 20.4% | 21.5% | 21.0% | 22.4% | 23.3% | 22.6% | 22.2% | 20.8% | 22.5% |
| Operating margin | 5.0% | 5.8% | 2.3% | 4.5% | 3.6% | 4.4% | 5.3% | 6.3% | 6.6% |
| Net margin | 3.2% | 6.2% | 3.0% | 2.5% | 1.8% | 2.3% | 3.0% | 3.5% | 3.8% |
Balance sheet
Fiscal years, from Parsons's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $446M | $280M | $183M | $484M | $343M | $263M | $273M | $454M | $466M |
| Receivables | — | $623M | $671M | $699M | $598M | $717M | $916M | $1.1B | $1.1B |
| Total current assets | — | $1.5B | $1.5B | $1.8B | $1.6B | $1.7B | $2.1B | $2.5B | $2.7B |
| Property, plant and equipment | $88M | $92M | $123M | $121M | $104M | $96M | $99M | $112M | $151M |
| Goodwill | $497M | $737M | $1.0B | $1.3B | $1.4B | $1.7B | $1.8B | $2.1B | $2.2B |
| Total assets | — | $2.6B | $3.5B | $3.9B | $3.8B | $4.2B | $4.8B | $5.5B | $5.8B |
| Total current liabilities | — | $1.0B | $1.1B | $1.2B | $1.0B | $1.1B | $1.4B | $1.9B | $1.5B |
| Long-term debt | — | — | $249M | $540M | $592M | $744M | $746M | $784M | $1.2B |
| Total liabilities | — | $1.7B | $1.8B | $2.1B | $1.9B | $2.1B | $2.4B | $3.0B | $3.0B |
| Shareholders' equity | -$1.0B | -$968M | $1.6B | $1.8B | $1.9B | $2.0B | $2.3B | $2.4B | $2.6B |
| Net debt | -$446M | -$280M | $67M | $106M | $249M | $481M | $473M | $794M | $771M |
Cash flow
Fiscal years, from Parsons's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $265M | $285M | $220M | $289M | $206M | $238M | $408M | $524M | $478M |
| Capital spending | $28M | $29M | $68M | $34M | $21M | $31M | $40M | $49M | $68M |
| Free cash flow | $237M | $255M | $153M | $255M | $184M | $207M | $367M | $474M | $410M |
| Stock-based compensation | $0 | $0 | $8M | $15M | $20M | $23M | $34M | $56M | $43M |
| Dividends paid | $0 | $0 | $52M | $0 | $0 | — | — | — | — |
| Share buybacks (net) | — | — | -$6M | $0 | -$22M | -$22M | -$11M | -$25M | -$125M |
| Free cash flow margin | 7.9% | 7.2% | 3.9% | 6.5% | 5.0% | 4.9% | 6.7% | 7.0% | 6.4% |
| Dividends per share | — | — | $0.56 | — | — | — | — | — | — |
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Open PSN in InvestinglyQuestions
What was Parsons's revenue in 2025?
$6.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Parsons generate?
$410M in fiscal 2025 (operating cash flow minus capital spending).
From Parsons's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.