# Booz Allen Hamilton Holding Corporation (BAH)

> Source: Nexqual · https://nexqual.com/BAH · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Booz Allen Hamilton Holding Corporation (BAH), nexqual.com/BAH" · informational, not investment advice.

**Price:** USD 78.57 (+4.70% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 75.04 · day 75.59–79.34 · 52w 59.5–109.1 · market cap $9.45B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $11.1B, net income $778M (7.0% margin), free cash flow $1.12B (SEC filings).
- Valuation: P/E 12.1x (avg 19.2x at the last 3 fiscal year-ends), EV/EBITDA 10.5x, net debt $3.40B.
- 2 of 80 tracked superinvestors hold BAH (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $37K; 1 not under a Rule 10b5-1 plan ($37K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.07 on a 1–5 scale) (15 analysts), mean target USD 84.31 (range 63–140).
- Total return with dividends: 1Y -19.3% vs S&P 500 +14.9%; 5Y +4.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-23, EPS estimate USD 1.48, revenue estimate $2.81B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.36B | $9.26B | $10.7B | $12.0B | $11.2B | $11.1B |
| Gross profit | $4.46B | $4.95B | $5.74B | $6.56B | $5.91B | — |
| Operating income | $685M | $447M | $1.01B | $1.37B | $1.03B | $1.05B |
| Net income | $467M | $272M | $606M | $935M | $851M | $778M |
| EPS (diluted) | $3.44 | $2.03 | $4.59 | $7.25 | $6.90 | — |
| Free cash flow | $657M | $527M | $192M | $911M | $951M | $1.12B |
| Gross margin | 53.4% | 53.5% | 53.8% | 54.8% | 52.7% | — |
| Operating margin | 8.2% | 4.8% | 9.5% | 11.4% | 9.2% | 9.5% |
| Net margin | 5.6% | 2.9% | 5.7% | 7.8% | 7.6% | 7.0% |
| Revenue growth | +6.4% | +10.7% | +15.2% | +12.4% | -6.4% | — |
| Cash + short-term investments | $696M | $405M | $554M | $885M | $728M | — |
| Total debt | $2.80B | $2.81B | $3.41B | $4.00B | $3.94B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.1x · P/S 0.8x · EV/EBITDA 10.5x · EV/Sales 1.2x · P/FCF 8.5x · P/B 7.9x · FCF yield 11.81% · Earnings yield 8.23% · Dividend yield (paid, TTM) 2.95% · Buyback yield (TTM) 5.17% · Net debt $3.40B · EV $12.8B
P/E at fiscal year-ends: Mar 2026 11.2x, Mar 2025 14.3x, Mar 2024 32.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold BAH. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Sarah Ketterer | Causeway Capital Management | 0.56% | $51.6M | Reduced -0.9% |
| Jensen Investment Management |  | 0.02% | $772K | Reduced -8.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-13 | Metzfield Dennis | VP, PAO & Controller | 469 | $37K | 8.6% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.07 on a 1–5 scale), 15 analysts; mean target USD 84.31 (low 63, high 140).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | Truist Securities | Upgrade | Hold → Buy | $70 → $85 |
| 2026-10-07 | Citigroup | Target lowered | Neutral | $82 → $77 |
| 2026-10-07 | Jefferies | Target lowered | Hold | $80 → $75 |
| 2026-10-06 | TD Cowen | Target raised | Hold | $75 → $77 |
| 2026-07-29 | Citigroup | Target raised | Neutral | $69 → $82 |
| 2026-07-27 | UBS | Target raised | Neutral | $70 → $78 |
| 2026-07-23 | Cantor Fitzgerald | Target lowered | Overweight | $160 → $140 |
| 2026-07-20 | B of A Securities | Target lowered | Underperform | $90 → $75 |
| 2026-07-14 | Goldman Sachs | Target lowered | Sell | $74 → $65 |
| 2026-07-10 | Truist Securities | Target lowered | Hold | $85 → $70 |
| 2026-07-07 | TD Cowen | Target lowered | Hold | $85 → $70 |
| 2026-07-01 | Citigroup | Target lowered | Neutral | $88 → $69 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -19.3% | +4.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -19.4% | +0.9% |
| Volatility (annualized) | 42.9% | 33.0% |
| Max drawdown | -40.7% (Jan 2026→Jun 2026) | -64.7% (Nov 2024→Jun 2026) |

## Peers (Consulting Services)
FCN (FTI Consulting, Inc.) USD 157.59 +5.50% · EFX (Equifax, Inc.) USD 187.14 +6.59% · VRSK (Verisk Analytics, Inc.) USD 203.33 +5.71% · HURN (Huron Consulting Group Inc.) USD 193.35 +5.47% · ICFI (ICF International, Inc.) USD 93.33 +3.76% · CRAI (CRA International,Inc.) USD 200.94 +9.59%

## More
Full page: https://nexqual.com/BAH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BAH's own 10-K filed 2026-05-22 (https://www.sec.gov/Archives/edgar/data/1443646/000162828026037521/bah-20260331.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | General | "Risk Factors—Legal and Regulatory Risks—Our work with government customers exposes us to additional risks inherent in the government contracting environment, which could reduce our revenue, disrupt our business, or other…" |
| Partner | Amazon (AMZN) | "To accelerate the development and deployment of transformative technologies, our engineers and technologists combine our proprietary tech and deep technical expertise with strategic partnerships, venture investments, and…" |

Other companies that name BAH in their own reports (relationship from BAH's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | PAR TECHNOLOGY CORP (PAR) | 10-K 2026-02-26 | "At closing we entered into a transition services agreement with Booz Allen Hamilton pursuant to which the Company and Booz Allen Hamilton provide certain transitional services to each other as contemp…" |

## Customer concentration

Period ended 2026-06-30: 72%, 28% of revenue from unnamed direct customers (10-Q, filed 2026-07-24).

## Company outlook (8-K filed 2026-07-24)

- "Fiscal 2027 Guidance assumes an effective tax rate of 20–23% and average diluted shares outstanding of 118–120 million. 4 Fiscal 2027 Guidance assumes capital expenditures of approximately $220 million, $105 million of which is related to our new headquarters."
- "OPERATING PERFORMANCE FISCAL YEAR 2027 GUIDANCE Revenue $11.2 - $11.7 billion Revenue Growth 0 - 4.0% Adjusted EBITDA $1,240 - $1,290 million Adjusted EBITDA Margin on Revenue ~11% Adjusted Diluted EPS3 $6.00 - $6.35 Free Cash Flow4 $825 - $925 million EARNINGS WEBCAST We will host a live conference call at 8 a.m."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.48 | $1.59 | -6.9% | $2.81B | 14 |
| Next quarter (ends 2026-12-31) | $1.48 | $1.51 | -2.4% | $2.83B | 14 |
| Current fiscal year (ends 2027-03-31) | $6.34 | $6.26 | +1.2% | $11.42B | 15 |
| Next fiscal year (ends 2028-03-31) | $6.72 | $6.81 | -1.2% | $11.95B | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-23): ±11.3%; last 8 reports averaged ±7.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 49.1% | ±11.3% |
| 2026-12-18 | 56 | 41.9% | ±13.4% |
| 2027-01-15 | 84 | 41.3% | ±16.0% |
| 2027-02-19 | 119 | 43.5% | ±20.0% |
| 2027-03-19 | 147 | 41.6% | ±22.3% |
| 2027-06-17 | 237 | 41.8% | ±26.3% |