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Parsons Corporation

PSN

Parsons Corporation • NYSE
$84.68 ▲ 0.65% (+0.55)
Market Cap $9.04 B
52w High $101.92
52w Low $54.56
Dividend Yield 0%
P/E 39.02
Volume 535.42K
Outstanding Shares 106.76M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.622B ▲ $251.9M ▼ $64.123M ▲ 3.954% ▲ $0.6 ▲ $141.213M ▲
Q2-2025 $1.584B ▲ $252.692M ▲ $55.23M ▼ 3.486% ▼ $0.52 ▼ $130.34M ▼
Q1-2025 $1.554B ▼ $244.75M ▼ $66.203M ▼ 4.259% ▼ $0.62 ▲ $140.413M ▼
Q4-2024 $1.734B ▼ $269.94M ▲ $201.285M ▲ 11.606% ▲ $0.51 ▼ $319.036M ▲
Q3-2024 $1.81B $245.297M $71.951M 3.975% $0.68 $145.683M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $422.554M ▲ $5.737B ▲ $3.072B ▼ $2.558B ▲
Q2-2025 $411.327M ▲ $5.721B ▲ $3.1B ▲ $2.516B ▲
Q1-2025 $269.745M ▼ $5.449B ▼ $2.903B ▼ $2.454B ▲
Q4-2024 $453.548M ▼ $5.488B ▲ $2.953B ▼ $2.416B ▲
Q3-2024 $558.823M $5.443B $3.029B $2.312B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $64.123M ▲ $162.85M ▲ $-22.83M ▲ $-128.439M ▼ $11.227M ▼ $149.729M ▼
Q2-2025 $55.23M ▼ $159.801M ▲ $-102.571M ▼ $81.604M ▲ $141.582M ▲ $150.365M ▲
Q1-2025 $81.787M ▼ $-11.787M ▼ $-61.67M ▲ $-110.864M ▼ $-183.803M ▼ $-25.26M ▼
Q4-2024 $216.469M ▲ $126.766M ▼ $-212.101M ▲ $-15.217M ▼ $-105.275M ▼ $107.999M ▼
Q3-2024 $71.951M $299.033M $-255.899M $-13.099M $30.361M $287.285M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Critical Infrastructure Segment
Critical Infrastructure Segment
 $730.00M ▲$710.00M ▼$780.00M ▲$830.00M ▲
Federal Solution Segment
Federal Solution Segment
 $1.00Bn ▲$840.00M ▼$810.00M ▼$790.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Parsons’ revenue has grown steadily over the last five years, with particularly strong acceleration in the most recent years. Profitability has also improved: gross profit has expanded along with sales, and operating and net income have moved up consistently from relatively low levels. Earnings per share have climbed meaningfully as the business has scaled, suggesting better use of fixed costs and a shift toward higher‑value, technology-heavy work. That said, this is still more of a “steady grinder” than a high-margin software company, so profitability, while improving, remains an area to watch rather than a fully mature strength.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown its asset base while maintaining a solid equity cushion. Debt has increased over time, likely tied to acquisitions and growth investments, but shareholders’ equity has also risen, which helps keep leverage in a reasonable range. Cash balances are healthy and have generally been stable to improving, giving Parsons flexibility to pursue contracts and acquisitions. Overall, the company looks more like a disciplined grower than an overleveraged one, but the upward drift in debt means ongoing balance-sheet discipline will be important.

Cash Flow

Cash Flow Parsons is converting its accounting profits into cash effectively. Operating cash flow has trended higher in line with earnings, and free cash flow has grown at a similar pace, helped by relatively modest capital spending needs for this type of business. The company appears to generate reliable surplus cash after its investment in property and equipment, which can support debt service, acquisitions, and selective shareholder returns. The pattern suggests a business model that is capital-light and increasingly cash generative, as long as contract execution and working-capital management remain tight.

Competitive Edge

Competitive Edge Parsons benefits from long-standing relationships with U.S. federal agencies and critical infrastructure customers, which are not easy for new entrants to displace. Its strength lies in combining traditional engineering and project expertise with advanced technologies in cybersecurity, intelligence, space, and smart infrastructure. A large, security-cleared workforce, a track record of delivering on complex government contracts, and a sizable contracted backlog all reinforce its position. Competition remains intense across defense and engineering markets, but Parsons’ mix of federal, infrastructure, and cyber-physical capabilities gives it a differentiated, integrated offering.

Innovation and R&D

Innovation and R&D The company has clearly leaned into a technology-first positioning. Initiatives like Parsons X unify its digital capabilities, while it invests in AI and machine learning, digital twins, cyber-physical security, and proprietary platforms for infrastructure and transportation. Strategic acquisitions have been used to bolt on high-end capabilities in cybersecurity, space, and environmental remediation. Internal innovation labs and solutions like Domain6, iNET, and the Joint Cyber Hunt Kit illustrate a shift from pure services to more scalable, tech-enabled solutions. Future performance will depend on sustaining this innovation pipeline and successfully integrating acquired technologies into cohesive, high-margin offerings.

Summary

Parsons has transitioned from a traditional engineering firm toward a technology-enabled solutions provider focused on defense, intelligence, and critical infrastructure. Financially, it shows a clear pattern of rising revenue, improving profitability, and strengthening cash generation, supported by a growing asset base and manageable leverage. Strategically, its advantages come from deep government ties, a cleared and specialized workforce, and a growing suite of digital and cyber capabilities that span both federal and civilian infrastructure markets. The main opportunities lie in further expanding higher-margin tech solutions and converting its strong backlog into profitable, cash-rich growth, while key risks center on continued dependence on government budgets, integration of acquisitions, and maintaining its edge in fast-moving areas like cybersecurity and AI.

NEWS

November 25, 2025 · 7:30 AM UTC

Parsons to Present at Goldman Sachs Industrials and Materials Conference

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November 21, 2025 · 12:44 PM UTC

Zephyr Releases PSN Top Guns List for Q3 2025, Highlighting Best-In-Class Separate Accounts, Managed Accounts and Managed ETF Strategies

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November 11, 2025 · 4:30 PM UTC

Parsons Awarded Position On $15 Billion Pacific Deterrence Initiative Infrastructure Contract

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November 10, 2025 · 6:30 AM UTC

Parsons Awarded Contract to Modernize U.S. Coast Guard Biometrics System

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November 5, 2025 · 6:30 AM UTC

Parsons Reports Third Quarter 2025 Results

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