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Booz Allen Hamilton helps U.S. government agencies modernize digital systems, protect networks and develop defense technology, using capabilities such as AI and engineering. Almost all its revenue comes from the federal government, with defense and intelligence work supplying most of it. Commercial work is a small part of the business. The company usually contracts directly with agencies rather than working under another contractor.
Most revenue comes from individual work orders issued under broader government contracting arrangements. Holding one of these contracts does not guarantee work: Booz Allen must win orders, often competing against other approved contractors, and the government's stated purchasing limit is not committed spending. Most of its revenue comes from contracts that reimburse allowable project costs up to agreed limits.
The business therefore depends on federal funding and agencies continuing to award work. It also needs qualified staff with the required security clearances. Many programs require both employee and facility clearances, while defense work carries cybersecurity compliance and certification requirements; losing required approvals can prevent the company from bidding for or performing that work.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
CACI INTERNATIONAL CLA and Booz Allen both rely on U.S. agencies buying cyber, analytics, engineering and mission-support services, so federal national-security demand matters to both. Watch CACI's national-security contract wins and its ability to supply specialized personnel—the same technical expertise and security-cleared talent matter to Booz Allen.
SAIC competes with Booz Allen for federal defense, intelligence and civilian agencies' spending on IT modernization, engineering and mission services. Its Defense and Intelligence results are particularly relevant to Booz Allen, which earned 71% of fiscal 2026 revenue from defense and intelligence customers.
Leidos competes with Booz Allen for federal technology and mission contracts serving national-security, health and civilian agencies. Watch its National Security & Digital and Health & Civil results rather than its commercial business for the closest read on the government customers paying Booz Allen.
Amentum Holdings, Inc. competes with Booz Allen for federal agencies' intelligence, defense, cyber, digital-modernization and engineering work. Watch its bids for large government programs: Amentum emphasizes its ability to develop, integrate and operate systems, while both companies compete on technical capability and security-cleared staff.
Parsons' Federal Solutions business competes with Booz Allen to connect national-security systems and provide cyber, space and engineering services to government customers. That business, not its infrastructure work, is the closer comparison: Federal Solutions generated 51% of Parsons' revenue in fiscal 2025.
KBR, Inc.'s Mission Technology Solutions business competes with Booz Allen for engineering, technical, advisory and mission-support work paid for by defense, intelligence and space customers. Its U.S. government program results are the closer comparison for Booz Allen than KBR's separate business licensing industrial process technologies.
ICF International, Inc. competes with Booz Allen for government consulting, analytics, digital services and the work of putting programs into operation. Its government work in health, social programs and other civilian markets is more relevant to Booz Allen's civilian exposure than to its larger defense and intelligence business.
MAXIMUS, Inc.'s U.S. Federal Services business competes with Booz Allen for federal technology and program-management contracts. Watch that business's health and human-services operations, including helping people enroll in programs and running Medicare contact centers, for a view of civilian-program demand rather than Booz Allen's defense work.
General Dynamics competes with Booz Allen through GDIT, which supplies federal agencies with IT and mission services; the parent also builds aircraft, ships and combat systems. GDIT's contract news is therefore a closer guide to Booz Allen's competitive market than General Dynamics' aircraft or shipbuilding results.
CACI INTERNATIONAL CLA earningsCACI
CACI's report will show whether U.S. national-security agencies are awarding work and contractors can supply specialized talent, a market Booz Allen also depends on.
Look at CACI's national-security contract wins alongside its ability to supply specialized, security-cleared staff. Strong awards with staffing in place would suggest agencies are still letting work and contractors can mobilize scarce expertise, a supportive signal for Booz Allen's market. Fewer wins or strained staffing could mean fewer opportunities or tighter delivery capacity, but CACI's results alone do not establish Booz Allen's own orders or hiring conditions.
Booz Allen Hamilton Holding Corporation earningsThis company
Nearly all of Booz Allen's revenue comes from U.S. government work, and this report will show whether agencies are funding enough task orders to support billable work and operating profit.
Read revenue and operating margin together. Steady revenue with a stable or improving margin would indicate that government-funded work is supporting staff deployment without costs consuming more of the profit. Falling revenue with a narrowing margin would point to pressure on workload or staff utilization and less room to absorb costs. Together, the figures show whether government funding is turning into profitable work.
Parsons Corporation earningsPSN
Parsons' Federal Solutions results offer a focused view of how it is doing in government national-security, cyber, space, and engineering work that overlaps with Booz Allen's.
Read Federal Solutions revenue alongside contract activity. Strength in both would show Parsons winning and delivering more work in a government market the two companies share, making it a stronger competitor for Booz Allen. Weakness in both could reflect fewer opportunities or Parsons-specific execution, so it would not by itself prove that government demand is falling.
