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Huntington Ingalls Industries key statistics and ratios

In fiscal 2025, Huntington Ingalls Industries had return on equity of 12.4%, an operating margin of 5.3%, debt equal to 53.2% of equity and a current ratio of 1.13. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Operating margin3.4%3.6%1.5%5.3%7.5%9.4%11.0%12.4%11.8%11.6%8.3%8.5%5.4%5.3%6.8%4.6%5.3%5.8%
Net margin2.0%1.9%−1.5%2.2%3.8%4.9%5.8%8.1%6.4%10.2%6.2%7.4%5.7%5.4%5.9%4.8%4.8%5.4%
Free-cash-flow margin−4.3%2.5%5.0%2.5%1.4%8.5%9.6%7.6%5.8%5.5%4.1%7.9%4.5%4.5%5.9%0.2%6.4%2.4%
Return on equity8.7%9.2%−8.8%19.1%23.9%23.4%28.3%36.5%28.1%51.1%35.4%39.9%23.1%18.4%18.0%12.6%12.4%13.9%
Return on assets—2.5%−1.8%2.3%4.1%5.4%6.6%9.3%7.5%13.1%8.2%9.2%5.8%5.4%6.2%4.7%4.9%5.7%
Asset turnover—1.281.161.081.081.121.141.141.171.281.331.231.010.991.040.991.001.05
Current ratio—0.591.651.791.921.841.791.591.580.950.941.101.150.950.951.081.131.26
Debt to equity0.0%58.3%216.4%274.4%117.0%122.3%85.4%77.3%72.8%84.6%81.0%88.7%117.5%83.3%59.7%68.6%53.2%49.2%
Interest cover (operating income ÷ interest)5.9x6.0x1.0x3.1x4.3x4.4x5.6x11.8x9.4x16.4x10.5x7.0x5.8x5.5x8.2x5.6x6.3x7.8x
Effective tax rate29.5%34.2%—39.4%33.8%33.3%36.1%26.9%38.0%13.9%19.6%14.1%12.5%19.5%20.2%14.5%22.1%19.9%
R&D as % of revenue—0.3%0.4%0.3%0.3%0.3%0.3%0.3%0.2%0.3%0.3%0.3%0.4%0.4%0.3%0.2%0.2%—
Capital spending as % of revenue2.9%2.8%3.0%2.4%2.0%2.4%2.7%4.0%5.1%5.7%6.0%3.8%3.5%2.7%2.5%3.2%3.2%3.1%
Free cash flow ÷ net income−216.9%128.2%—116.4%37.2%174.6%166.6%93.7%90.2%53.9%66.7%106.3%78.9%83.2%99.6%4.7%131.2%44.6%
Dividends ÷ net income0.0%0.0%—3.4%9.6%14.5%20.0%17.1%24.0%15.8%27.1%24.7%34.2%33.2%29.4%37.5%35.2%29.6%
Dividends and buybacks ÷ free cash flow—0.0%431.7%3.5%148.5%31.7%46.5%54.4%92.8%193.8%112.3%34.6%66.9%50.6%40.6%>999%26.8%66.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · September 30, 2026
What it owns · $13.0bn
Short-term assets $3.5bnLonger-term assets $9.5bn
What it owes, and who funded it · $13.0bn
Short-term liabilities $2.7bnLonger-term liabilities $4.8bnShareholders' equity $5.5bn
  • Short-term assets cover short-term liabilities $3.5bn of assets due within a year against $2.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.5bn short-term assets against $4.8bn of longer-dated liabilities.
  • More cash than debt $387m of cash against $2.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 49% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 113% to 49% over five years.
  • A year's operating cash flow covers at least 20% of debt $749m of operating cash flow against $2.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $783m against $101m of interest.

From Huntington Ingalls Industries's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

62 /100

Moderate moat

How hard Huntington Ingalls Industries's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Net income has been a median 6.4% of total assets over 10 years.

  • Durability 11 / 20

    Operating margin has been a median 6.8%; its worst year was 5.0%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 10 of 10 years, at a median 4.8% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 2.2% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Huntington Ingalls Industries's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Huntington Ingalls Industries.