Parsons Corporation
- Open
- 53.23
- Day high
- 54.26
- Day low
- 52.98
- Prev close
- 52.39
- Volume
- 283K
- Mkt cap
- $5.8B
- P/E (TTM)
- 25.4
- EPS (TTM)
- $2.13
- P/B
- 2.2
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▲Insiders net buying $2.1M over the last 3 months (6 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
Parsons Corporation (PSN) is a Industrials company listed on NYSE. The stock is down 28% over the past year. Over the trailing 3 months, insiders filed 6 open-market buys and 0 sales (SEC Form 4).
Parsons Corporation (PSN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PSN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.70 | $0.79 | +12.9% | $1.5B | -0.6% |
| Nov 5, 2025 | $0.72 | $0.86 | +19.4% | $1.6B | -3.5% |
| Aug 6, 2025 | $0.74 | $0.78 | +5.4% | $1.6B | -5.3% |
| Apr 30, 2025 | $0.74 | $0.78 | +5.4% | $1.6B | -11.7% |
| Feb 19, 2025 | $0.92 | $0.78 | -15.2% | $1.7B | +2.1% |
| Oct 30, 2024 | $0.79 | $0.95 | +20.3% | $1.8B | +3.9% |
| Jul 31, 2024 | $0.69 | $0.84 | +21.7% | $1.7B | +8.2% |
| May 1, 2024 | $0.62 | $0.70 | +12.9% | $1.5B | -0.5% |
| Feb 14, 2024 | $0.63 | $0.69 | +9.5% | $1.5B | +13.0% |
| Nov 1, 2023 | $0.60 | $0.69 | +15.0% | $1.4B | +12.1% |
| Aug 2, 2023 | $0.49 | $0.63 | +28.6% | $1.4B | +20.2% |
| May 3, 2023 | $0.43 | $0.43 | +0.0% | $1.2B | +10.8% |
PSN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 14, 2026 | Ball George L.director | Buy | 10,000 | $50.00 |
| May 13, 2026 | Holdsworth Mark Keithdirector | Buy | 6,754 | $51.54 |
| May 13, 2026 | Holdsworth Mark Keithdirector | Buy | 3,246 | $50.70 |
| May 12, 2026 | McMahon Harry T.director | Buy | 10,000 | $49.14 |
| May 11, 2026 | Smith Carey A.director, officer: President & CEO | Buy | 500 | $50.73 |
| May 11, 2026 | Smith Carey A.director, officer: President & CEO | Buy | 12,000 | $49.94 |
| Apr 15, 2026 | Lord Ellen M.director | Grant | 2,947 | — |
| Apr 15, 2026 | McDew Darren Wdirector | Grant | 2,947 | — |
| Apr 15, 2026 | McMahon Harry T.director | Grant | 2,947 | — |
| Apr 15, 2026 | MITCHELL M CHRISTIANdirector | Grant | 2,947 | — |
| Apr 15, 2026 | Smith Robert Hansondirector | Grant | 2,947 | — |
| Apr 15, 2026 | Vautrinot Suzanne Mdirector | Grant | 2,947 | — |
| Apr 15, 2026 | WAJSGRAS DAVID Cdirector | Grant | 2,947 | — |
| Apr 15, 2026 | Ball George L.director | Grant | 2,947 | — |
| Apr 15, 2026 | Holdsworth Mark Keithdirector | Grant | 2,947 | — |
Source: PSN SEC Form 4 filings, latest May 14, 2026. For informational purposes only — not investment advice.
See the full PSN insider & 13F page →Parsons Corporation company profile
Overview
Parsons Corporation (NYSE:PSN) is a technology-focused defense contractor and critical infrastructure solutions provider founded in 1944 and headquartered in Centreville, Virginia. The company went public in May 2019 and has since transformed from a traditional engineering services firm into a high-value solutions provider specializing in advanced technologies including cybersecurity, artificial intelligence, space systems, and missile defense. Parsons operates globally with significant presence in North America, the Middle East, and other international markets, serving both government and commercial clients through its integrated approach to complex national security and infrastructure challenges.
Business
Parsons operates through two primary business segments that together generated $6.8 billion in revenue in 2024. The Federal Solutions segment represents approximately 54% of total revenue and focuses on providing advanced technology solutions to U.S. government agencies including the Department of Defense, intelligence community, and other federal entities. This segment offers cybersecurity and intelligence services, space and geospatial solutions, missile defense systems, and command and control technologies. Key offerings include offensive and defensive cybersecurity platforms, geospatial intelligence systems, satellite ground systems, integrated air and missile defense solutions, and data fusion analytics. The Critical Infrastructure segment accounts for roughly 46% of revenue and serves transportation authorities, utilities, and private sector clients with intelligent transportation systems, aviation solutions, rail and transit systems, smart city software, and infrastructure cybersecurity protection. This segment also provides environmental remediation services, program management, and engineering services for large-scale infrastructure projects. The company has particularly strong presence in Middle Eastern markets, working on major infrastructure projects in Saudi Arabia, UAE, and Qatar. Both segments emphasize software-enabled solutions and advanced technologies rather than traditional engineering services, positioning Parsons as a technology integrator that combines hardware, software, and specialized expertise to solve complex problems in national security and critical infrastructure domains.
Revenue model
Parsons generates revenue primarily through government contracts and commercial project engagements using multiple pricing models. The Federal Solutions segment operates predominantly on cost-plus and fixed-price contracts with U.S. government agencies, where the company is compensated for direct costs plus negotiated fees or margins. The Critical Infrastructure segment uses both fixed-price project contracts and time-and-materials arrangements with transportation authorities, utilities, and private clients. The company's business model has evolved toward higher-margin, technology-intensive solutions rather than traditional engineering services. Revenue streams include systems integration projects, software licensing, ongoing maintenance and support services, and program management. Parsons also generates recurring revenue through multi-year contracts and indefinite delivery/indefinite quantity (IDIQ) vehicles that provide flexibility for clients to order additional services. Key factors that positively impact margins include the company's focus on proprietary software and advanced technologies, which command premium pricing compared to commodity engineering services. The ongoing global infrastructure spending boom, estimated to peak around 2027-2030, provides substantial tailwinds for the Critical Infrastructure segment. Similarly, increasing defense budgets and emphasis on national security priorities like cybersecurity, space systems, and missile defense support Federal Solutions growth. Margin pressures can arise from intense competition for government contracts, potential budget constraints or continuing resolutions that delay contract awards, skilled labor shortages in specialized technical fields, and the need for ongoing investments in research and development to maintain technological differentiation. The company also faces project execution risks on large fixed-price contracts where cost overruns can significantly impact profitability.
Competitive moat
Parsons possesses a moderate competitive moat built primarily around specialized technical expertise, security clearances, and established client relationships rather than traditional economic moats. The company's strongest defensive position lies in its deep relationships with U.S. government agencies and the high barriers to entry created by security clearance requirements, which can take years for competitors to obtain and maintain. Many of Parsons' employees hold top-secret and compartmentalized security clearances that are essential for classified government work. The company has developed proprietary software platforms and specialized technical capabilities in areas like cybersecurity, missile defense, and geospatial intelligence that create some differentiation. However, these technological advantages are not insurmountable, as larger defense contractors like Lockheed Martin, Raytheon, and Northrop Grumman compete in similar markets with greater resources and scale. In the Critical Infrastructure segment, Parsons faces more commoditized competition from traditional engineering firms, though its focus on technology-enabled solutions and software provides some differentiation. The company's established presence in Middle Eastern markets creates regional advantages, but these relationships could be vulnerable to geopolitical changes or local competition. The primary competitive threats come from larger defense contractors that can leverage greater scale and R&D budgets, as well as specialized technology companies that may develop superior solutions in specific niches. Additionally, government clients' emphasis on cost competitiveness and the periodic recompeting of contracts limits pricing power and long-term contract security.
Risks & safety
Parsons demonstrates solid financial stability with manageable debt levels and adequate liquidity, though some seasonal cash flow volatility exists. • Liquidity and Cash Position: $270 million in cash and short-term investments as of Q1 2025, with strong free cash flow generation of $474 million in 2024, though Q1 2025 showed negative $25 million free cash flow due to seasonal working capital changes • Debt and Leverage: Debt-to-equity ratio of 0.56, indicating moderate leverage levels that are manageable for a government contractor; total liabilities of $2.9 billion against $5.4 billion in total assets • Valuation Metrics: Trading at 23.8x P/E ratio and 13.2x EV/EBITDA based on Q1 2025 metrics, suggesting moderate valuation levels for a growing defense contractor • Operational Stability: Strong contract backlog of $8.8 billion provides revenue visibility, with book-to-bill ratio consistently above 1.0x indicating healthy demand • Other Considerations: Government contract concentration creates some revenue stability but also regulatory and budget risk; current ratio of 1.29 indicates adequate short-term liquidity though relatively tight working capital management
Recent development
Over the past several years, Parsons has executed a strategic transformation from a traditional engineering services company to a technology-focused solutions provider. The company has consistently achieved over 20% organic revenue growth for five consecutive quarters through 2024, driven by selective bidding on higher-value contracts and moving up the solutions integration value chain. Strategic acquisitions have been central to this transformation, with notable deals including BlackSignal Technologies ($204 million) for offensive cyber operations and electronic warfare capabilities, BCC Engineering ($230 million) for transportation engineering, IPKeys Power Partners for cyber resiliency, and most recently TRS Group for environmental remediation capabilities. The company targets 2-3 acquisitions annually, focusing on companies with greater than 10% revenue growth and 10% EBITDA margins. The Federal Solutions segment has particularly benefited from increased defense spending and national security priorities, with revenue growing 33% in 2024. Key growth areas include cybersecurity, space and missile defense systems, and artificial intelligence applications. The segment has achieved consistent margin expansion, reaching 10% adjusted EBITDA margins. In Critical Infrastructure, Parsons has strengthened its position in transportation systems, smart cities technology, and environmental remediation. The company has significant exposure to Middle Eastern infrastructure projects, particularly in Saudi Arabia's Vision 2030 initiatives. The segment has focused on margin improvement through selective project bidding and completing legacy lower-margin programs. Recent developments include winning several large contracts over $100 million, achieving record win rates of 72%, and building a robust pipeline of $55 billion with 114 opportunities exceeding $100 million each. The company has also improved employee retention to its best levels since 2020 while successfully scaling its workforce to support growth.
PSN company profile · for informational purposes only — not investment advice.
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