8-KBooz Allen Hamilton Announces Second Quarter Fiscal 2027 Results 11 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details. McLean, Virginia - October 23, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the second quarter of fiscal 2027. Profitability above expectations driven by strong operational execution Momentum across National Security portfolio; Civil business performing in line with expectations Total backlog up 1.9% year-over-year to $41 billion and quarterly book-to-bill ratio of 1.5x Adjusted Diluted EPS1 guidance raised above prior range Accelerating investments and delivery of advanced cyber, agentic, and defense technologies to drive speed, outcomes and mission impact "Booz Allen is executing exceptionally well and investing in our next phase of growth," said Horacio Rozanski, Booz Allen Chairman and CEO. "We are building and scaling our cyber and defense tech products and bringing super intelligence into our nation’s most critical missions to deliver greater value and impact." Q2 Summary • Revenue of $2.8 billion, a 3.9 percent year-over-year decrease ◦ Revenue ex-billables of $2.0 billion, a 0.8 percent decrease • Net Income of $181 million, a 3.4 percent increase • Adjusted Net Income1 of $211 million, a 15.3 percent increase • Adjusted EBITDA1 of $313 million, a 3.4 percent decrease • Adjusted EBITDA Margin on Revenue1 increased by 10 basis points to 11.3% • Adjusted Diluted EPS1 of $1.76, an 18.1 percent increase • Free cash flow1 of $263 million, compared to $395 million in the prior year • $965 million in total capital deployment • 1.5x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $41 billion, a 1.9 percent increase A regular quarterly dividend of $0.59 per share will be payable on December 4, 2026, to stockholders of record on November 12, 2026. FINANCIAL SUMMARY TABLE Three Months Ended September 30, Six Months Ended September 30, 2026 2026 2025 % Change 2026 2025 % Change (unaudited) (unaudited) Revenue $2,778 $2,890 (3.9)% $5,578 $5,814 (4.1)% Revenue Ex. Billable Expenses $1,957 $1,972 (0.8)% $3,922 $4,015 (2.3)% Net Income $181 $175 3.4% $379 $446 (15.0)% Adjusted Net Income $211 $183 15.3% $428 $367 16.6% Diluted EPS $1.50 $1.42 5.6% $3.13 $3.58 (12.6)% Adjusted Diluted EPS $1.76 $1.49 18.1% $3.57 $2.97 20.2% EBITDA $296 $324 (8.6)% $620 $621 (0.2)% Adjusted EBITDA $313 $324 (3.4)% $647 $635 1.9% Adjusted EBITDA Margin on Revenue 11.3% 11.2% +10 bps 11.6% 10.9% +70 bps Net Cash Provided by Operating Activities $294 $421 (30.2)% $575 $540 6.5% Free Cash Flow $263 $395 (33.4)% $524 $491 6.7%2 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 Fiscal 2027 Guidance assumes an effective tax rate of 16-19% and average diluted shares outstanding of 118–120 million. 4 Fiscal 2027 Guidance assumes capital expenditures of approximately $200 million. OPERATING PERFORMANCE UPDATED FISCAL 2027 GUIDANCE PRIOR FISCAL 2027 GUIDANCE Revenue $11.3 - $11.6 billion $11.2 - $11.7 billion Revenue Growth 1.0 - 3.0% 0 - 4.0% Adjusted EBITDA $1,260 - $1,290 million $1,240 - $1,290 million Adjusted EBITDA Margin on Revenue ~11% ~11% Adjusted Diluted EPS3 $6.50 - $6.70 $6.00 - $6.35 Free Cash Flow4 $850 - $925 million $825 - $925 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EDT on Friday, October 23, 2026, to discuss the financial results for our second quarter of fiscal year 2027. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, October 23, 2026, and continuing for 12 months. ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] OUTLOOK2 The Company is updating its fiscal year 2027 guidance as noted in the table below:NON-GAAP FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including certain other corporate expenses. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before certain other corporate expenses and acquisition amortization, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2026. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 3FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 4EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations (UNAUDITED) 5 Three Months Ended September 30, Six Months Ended September 30, (Amounts in millions, except per share data) 2026 2025 2026 2025 Revenue $ 2,778 $ 2,890 $ 5,578 $ 5,814 Operating costs and expenses: Cost of revenue 1,333 1,340 2,669 2,763 Billable expenses 821 918 1,656 1,799 General and administrative expenses 328 308 633 631 Depreciation and amortization 51 41 96 81 Total operating costs and expenses 2,533 2,607 5,054 5,274 Operating income 245 283 524 540 Interest expense, net (52) (48) (100) (92) Other income (expense) 6 (2) 26 1 Income before income taxes 199 233 450 449 Income tax expense 18 58 71 3 Net income $ 181 $ 175 $ 379 $ 446 Earnings per common share: Basic $ 1.50 $ 1.42 $ 3.13 $ 3.59 Diluted $ 1.50 $ 1.42 $ 3.13 $ 3.58EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (UNAUDITED) (Amounts in millions, except share and per share data) September 30, 2026 March 31, 2026 Assets Current assets: Cash and cash equivalents $ 334 $ 728 Accounts receivable, net 2,348 2,063 Prepaid expenses and other current assets 202 170 Total current assets 2,884 2,961 Property and equipment, net of accumulated depreciation 167 171 Operating lease right-of-use assets 257 147 Intangible assets, net of accumulated amortization 855 509 Goodwill 3,028 2,399 Deferred tax assets 219 294 Other long-term assets 898 637 Total assets $ 8,308 $ 7,118 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 19 Accounts payable and other accrued expenses 1,239 909 Accrued compensation and benefits 654 641 Operating lease liabilities 46 43 Other current liabilities 52 51 Total current liabilities 2,010 1,663 Long-term debt, net of current portion 4,391 3,921 Operating lease liabilities, net of current portion 252 139 Postretirement and other long-term employee benefits 233 224 Other long-term liabilities 178 66 Total liabilities 7,064 6,013 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 170,671,224 shares at September 30, 2026 and 169,805,201 shares at March 31, 2026; outstanding, 119,096,968 shares at September 30, 2026 and 120,341,320 shares at March 31, 2026 2 2 Treasury stock, at cost — 51,574,256 shares at September 30, 2026 and 49,463,881 shares at March 31, 2026 (3,833) (3,673) Additional paid-in capital 1,217 1,155 Retained earnings 3,879 3,644 Accumulated other comprehensive loss (21) (23) Total stockholders’ equity 1,244 1,105 Total liabilities and stockholders’ equity $ 8,308 $ 7,118 6EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows (UNAUDITED) Six Months Ended September 30, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 379 $ 446 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 96 81 Noncash lease expense 22 25 Stock-based compensation expense 44 36 Net gains on investments, dispositions, and other (28) (4) Changes in operating assets and liabilities: Accounts receivable, net (46) 54 Deferred income taxes and income taxes receivable/payable 35 78 Prepaid expenses and other current and long-term assets (58) (77) Accrued compensation and benefits 14 (13) Accounts payable and other accrued expenses 111 23 Other current and long-term liabilities 6 (109) Net cash provided by operating activities 575 540 Cash flows from investing activities Purchases of property, equipment, and software (51) (49) Payments for business acquisitions and dispositions, net of cash acquired (934) — Payments for strategic investments (155) (12) Net cash used in investing activities (1,140) (61) Cash flows from financing activities Proceeds from issuance of common stock 20 27 Repurchases of common stock (170) (395) Cash dividends paid (145) (138) Repayments on term loan (724) (42) Net proceeds from debt issuance 1,190 — Net cash provided by (used in) financing activities 171 (548) Net decrease in cash and cash equivalents (394) (69) Cash and cash equivalents––beginning of period 728 885 Cash and cash equivalents––end of period $ 334 $ 816 Supplemental disclosures of cash flow information Net cash payments during the period for: Interest $ 94 $ 87 Income taxes $ 14 $ 41 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ 6 $ 3 Unpaid property, equipment, and software purchases $ 26 $ 8 7EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended September 30, Six Months Ended September 30, (In millions, except share and per share data) 2026 2025 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,778 $ 2,890 $ 5,578 $ 5,814 Less: Billable expenses 821 918 1,656 1,799 Revenue, Excluding Billable Expenses $ 1,957 $ 1,972 $ 3,922 $ 4,015 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 181 $ 175 $ 379 $ 446 Income tax expense 18 58 71 3 Interest expense, net and other income (expense) 46 50 74 91 Depreciation and amortization 51 41 96 81 EBITDA $ 296 $ 324 $ 620 $ 621 Other corporate expenses (a) 17 — 27 14 Adjusted EBITDA $ 313 $ 324 $ 647 $ 635 Net income margin 6.5 % 6.1 % 6.8 % 7.7 % Adjusted EBITDA Margin on Revenue 11.3 % 11.2 % 11.6 % 10.9 % Adjusted Net Income Net income $ 181 $ 175 $ 379 $ 446 Other corporate expenses (a) 17 — 27 14 Acquisition amortization (b) 22 12 37 24 Adjustments for tax effect (c) (9) (4) (15) (117) Adjusted Net Income $ 211 $ 183 $ 428 $ 367 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 119,591,637 122,881,563 119,886,979 123,677,992 Diluted earnings per share $ 1.50 $ 1.42 $ 3.13 $ 3.58 Adjusted Net Income Per Diluted Share $ 1.76 $ 1.49 $ 3.57 $ 2.97 Free Cash Flow Net cash provided by operating activities $ 294 $ 421 $ 575 $ 540 Less: Purchases of property, equipment and software (31) (26) (51) (49) Free Cash Flow $ 263 $ 395 $ 524 $ 491 8 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with Defy Security in the first quarter of fiscal 2027, and Ultra I&C Mission Solutions business in the second quarter of fiscal 2027. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. (b) Amortization expense associated with acquired intangibles from acquisitions. (c) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The fiscal 2026 tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended September 30, 2026 Three Months Ended June 30, 2026 Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 (In millions, except share and per share data) Net income $ 181 $ 198 $ 205 $ 200 Income tax expense (benefit) 18 53 21 (13) Interest expense, net and other income (expense) 46 28 37 43 Depreciation and amortization 51 45 42 40 EBITDA $ 296 $ 324 $ 305 $ 270 Other corporate expenses (a) 17 10 4 15 Adjusted EBITDA $ 313 $ 334 $ 309 $ 285 Last 12 months Adjusted EBITDA $ 1,241 Total Debt $ 4,410 Less: Cash 334 Net Debt $ 4,076 Net Leverage Ratio (b) 3.3 Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 (In millions, except share and per share data) Net income $ 175 $ 271 $ 193 $ 187 Income tax expense (benefit) 58 (55) 49 61 Interest expense, net and other income (expense) 50 41 32 43 Depreciation and amortization 41 40 42 40 EBITDA $ 324 $ 297 $ 316 $ 331 Other corporate expenses (a) — 14 — 1 Adjusted EBITDA $ 324 $ 311 $ 316 $ 332 Last 12 months Adjusted EBITDA $ 1,283 Total Debt $ 3,960 Less: Cash 816 Net Debt $ 3,144 Net Leverage Ratio (b) 2.5 9 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with Defy Security in the first quarter of fiscal 2027, and Ultra I&C Mission Solutions business in the second quarter of fiscal 2027. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of September 30, (Amounts in millions) 2026 2025 Funded $ 5,711 $ 5,440 Unfunded 10,409 10,668 Priced options 24,813 24,080 Total backlog $ 40,933 $ 40,188 Book-to-Bill (1): Three Months Ended September 30, Trailing Twelve Months Ended September 30, 2026 2025 2026 2025 1.5x 1.7x 1.1x 1.1x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of September 30, (Amounts are rounded) 2026 2025 Total Headcount 31,000 32,500 Customer Staff Headcount 28,200 29,600 Revenue by Customer Type Three Months Ended September 30, Six Months Ended September 30, 2026 2025 2026 2025 National Security(2) $ 2,076 $ 2,063 $4,104 $4,064 Civil and Commercial 702 827 1,474 1,750 Total Revenue $ 2,778 $ 2,890 $5,578 $5,814 (2) National Security includes revenues from Defense and Intelligence customers, which were previously separately reported. Prior period revenues have been presented to reflect this change. Percentage of Total Revenue by Contract Type Three Months Ended September 30, Six Months Ended September 30, 2026 2025 2026 2025 Cost-Reimbursable 59% 59% 58% 60% Time-and-Materials 21% 22% 22% 22% Fixed-Price 20% 19% 20% 18% 1023 Oct
8-KBooz Allen Completes Acquisition of Ultra I&C Mission Solutions Business McLean, VA—August 24, 2026—Booz Allen Hamilton (NYSE: BAH) has completed its previously announced $720 million acquisition of the Ultra I&C Mission Solutions business (Ultra Mission Solutions), further strengthening its technology solutions for national security missions. Combining Ultra Mission Solutions’ defense technology software, encryption, and edge- compute products with Booz Allen’s AI-driven battle management, resilient communications, and edge infrastructure solutions strengthens Booz Allen’s portfolio of capabilities for today’s contested and fast-moving operational environments. These offerings will help warfighters connect, secure, and deploy technology at the edge and across domains, bringing advanced commercial technology to national security missions at greater speed and scale. “Booz Allen builds technology to strengthen America’s national security and technological superiority,” said Horacio Rozanski, Chairman and CEO of Booz Allen. “This strategic acquisition accelerates our ability to expand and scale our defense tech products and help the United States and its allies maintain decisive advantage on the battlefield.” Ultra Mission Solutions will operate as the commercial product and solutions component of Booz Allen's defense technology business led by president Steve Escaravage. “Warfighters and policymakers are calling for increased industry investment in commercial products ready to fulfill mission requirements,” said Escaravage. “This acquisition strengthens our ability to scale product delivery, expand global reach, and increase impact for U.S. and allied customers.” About Booz Allen Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) Forward-Looking Statements Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include statements that do not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “ forecasts,” “expects,” “ intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2026, which can be found at the SEC’s website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake noobligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: Dustin Darensbourg, [email protected]24 Aug
8-KEntry into a Material Definitive Agreement4 Aug
8-KSubmission of Matters to a Vote of Security Holders24 Jul
8-KBooz Allen Hamilton Announces First Quarter Fiscal 2027 Results 1 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details. Three Months Ended June 30, 2026 2025 % Change (unaudited) Revenue $2,800 $2,924 (4.2)% Revenue Ex. Billable Expenses $1,965 $2,043 (3.8)% Net Income $198 $271 (26.9)% Adjusted Net Income $217 $184 17.9% Diluted EPS $1.63 $2.16 (24.5)% Adjusted Diluted EPS $1.81 $1.48 22.3% EBITDA $324 $297 9.1% Adjusted EBITDA $334 $311 7.4% Adjusted EBITDA Margin on Revenue 11.9% 10.6% +130 bps Net Cash Provided by Operating Activities $281 $119 136.1% Free Cash Flow $261 $96 171.9% FINANCIAL SUMMARY TABLE McLean, Virginia - July 24, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the first quarter of fiscal 2027. Strong profitability, disciplined execution, and strategic investments continue to strengthen the company's long-term positioning Demand accelerating across National Security portfolio while Civil remains challenged Q1 backlog of $39 billion and quarterly book-to-bill ratio of 1.5x Continued focus on advanced cyber and defense technologies, AI-native products, and outcomes- based delivery to drive critical mission impact "Booz Allen is on track with the expectations we set for the fiscal year amid challenging market dynamics," said Horacio Rozanski, Booz Allen Chairman and CEO. "We are executing the business well, investing in cyber and defense technologies to accelerate our growth, and transforming at speed." Q1 Summary • Revenue of $2.8 billion, a 4.2 percent year-over-year decrease ◦ Revenue ex-billables of $2.0 billion, a 3.8 percent decrease • Net Income of $198 million, a 26.9 percent decrease • Adjusted Net Income1 of $217 million, a 17.9 percent increase • Adjusted EBITDA1 of $334 million, a 7.4 percent increase • Adjusted EBITDA Margin on Revenue1 increased by 130 basis points to 11.9% • Adjusted Diluted EPS1 of $1.81, a 22.3 percent increase • Free cash flow1 of $261 million, compared to $96 million in the prior year • $447 million in total capital deployment • 1.5x quarterly book-to-bill ratio • Total backlog of $39 billion, a 3.2 percent increase A regular quarterly dividend of $0.59 per share will be payable on August 28, 2026, to stockholders of record on August 14, 2026.2 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 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. EDT on Friday, July 24, 2026, to discuss the financial results for our first quarter of fiscal year 2027. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, July 24, 2026, and continuing for 12 months. ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] OUTLOOK2 For fiscal year 2027, we expect:NON-GAAP FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before certain other corporate expenses and acquisition amortization, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2026. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 3FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 4EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations (UNAUDITED) 5 Three Months Ended June 30, (Amounts in millions, except per share data) 2026 2025 Revenue $ 2,800 $ 2,924 Operating costs and expenses: Cost of revenue 1,336 1,423 Billable expenses 835 881 General and administrative expenses 305 323 Depreciation and amortization 45 40 Total operating costs and expenses 2,521 2,667 Operating income 279 257 Interest expense, net (48) (44) Other income (expense) 20 3 Income before income taxes 251 216 Income tax expense (benefit) 53 (55) Net income $ 198 $ 271 Earnings per common share: Basic $ 1.63 $ 2.17 Diluted $ 1.63 $ 2.16EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (UNAUDITED) (Amounts in millions, except share and per share data) June 30, 2026 March 31, 2026 Assets Current assets: Cash and cash equivalents $ 540 $ 728 Accounts receivable, net 2,320 2,063 Prepaid expenses and other current assets 180 170 Total current assets 3,040 2,961 Property and equipment, net of accumulated depreciation 167 171 Operating lease right-of-use assets 186 147 Intangible assets, net of accumulated amortization 597 509 Goodwill 2,528 2,399 Deferred tax assets 253 294 Other long-term assets 839 637 Total assets $ 7,610 $ 7,118 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 19 Accounts payable and other accrued expenses 1,192 909 Accrued compensation and benefits 607 641 Operating lease liabilities 29 43 Other current liabilities 59 51 Total current liabilities 1,906 1,663 Long-term debt, net of current portion 3,917 3,921 Operating lease liabilities, net of current portion 195 139 Other long-term liabilities 390 290 Total liabilities 6,408 6,013 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 170,513,905 shares at June 30, 2026 and 169,805,201 shares at March 31, 2026; outstanding, 120,284,257 shares at June 30, 2026 and 120,341,320 shares at March 31, 2026 2 2 Treasury stock, at cost — 50,229,648 shares at June 30, 2026 and 49,463,881 shares at March 31, 2026 (3,733) (3,673) Additional paid-in capital 1,186 1,155 Retained earnings 3,769 3,644 Accumulated other comprehensive loss (22) (23) Total stockholders’ equity 1,202 1,105 Total liabilities and stockholders’ equity $ 7,610 $ 7,118 6EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows (UNAUDITED) Three Months Ended June 30, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 198 $ 271 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 45 40 Noncash lease expense 12 12 Stock-based compensation expense 21 19 Net gains on investments, dispositions, and other (18) (4) Changes in operating assets and liabilities: Accounts receivable, net (36) (15) Deferred income taxes and income taxes receivable/payable 78 34 Prepaid expenses and other current and long-term assets (48) (69) Accrued compensation and benefits (30) (32) Accounts payable and other accrued expenses 71 (35) Other current and long-term liabilities (12) (102) Net cash provided by operating activities 281 119 Cash flows from investing activities Purchases of property, equipment, and software (20) (23) Payments for business acquisitions, net of cash acquired (220) — Payments for strategic investments (88) (9) Net cash used in investing activities (328) (32) Cash flows from financing activities Proceeds from issuance of common stock 9 11 Repurchases of common stock (72) (181) Cash dividends paid (73) (70) Repayments on revolving credit facility, term loans, and Senior Notes (5) (21) Net cash used in financing activities (141) (261) Net decrease in cash and cash equivalents (188) (174) Cash and cash equivalents––beginning of period 728 885 Cash and cash equivalents––end of period $ 540 $ 711 Supplemental disclosures of cash flow information Net cash payments (receipts) during the period for: Interest $ 38 $ 22 Income taxes $ (16) $ 24 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ — $ 2 Unpaid property, equipment, and software purchases $ 31 $ 4 7EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended June 30, (In millions, except share and per share data) 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,800 $ 2,924 Less: Billable expenses 835 881 Revenue, Excluding Billable Expenses $ 1,965 $ 2,043 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 198 $ 271 Income tax expense (benefit) 53 (55) Interest expense, net and other income (expense) 28 41 Depreciation and amortization 45 40 EBITDA $ 324 $ 297 Other corporate expenses (a) 10 14 Adjusted EBITDA $ 334 $ 311 Net income margin 7.1 % 9.3 % Adjusted EBITDA Margin on Revenue 11.9 % 10.6 % Adjusted Net Income Net income $ 198 $ 271 Other corporate expenses (a) 10 14 Acquisition amortization (b) 15 12 Adjustments for tax effect (c) (6) (113) Adjusted Net Income $ 217 $ 184 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 120,185,147 124,475,670 Diluted earnings per share $ 1.63 $ 2.16 Adjusted Net Income Per Diluted Share $ 1.81 $ 1.48 Free Cash Flow Net cash provided by operating activities $ 281 $ 119 Less: Purchases of property, equipment and software (20) (23) Free Cash Flow $ 261 $ 96 8 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with the acquisition of Defy Security, and the agreement to acquire Ultra Mission Solutions. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. (b) Amortization expense associated with acquired intangibles from acquisitions. (c) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The fiscal 2026 tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended June 30, 2026 Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 (In millions, except share and per share data) Net income $ 198 $ 205 $ 200 $ 175 Income tax expense (benefit) 53 21 (13) 58 Interest expense, net and other income (expense) 28 37 43 50 Depreciation and amortization 45 42 40 41 EBITDA $ 324 $ 305 $ 270 $ 324 Other corporate expenses (a) 10 4 15 — Adjusted EBITDA $ 334 $ 309 $ 285 $ 324 Last 12 months Adjusted EBITDA $ 1,252 Total Debt $ 3,936 Less: Cash 540 Net Debt $ 3,396 Net Leverage Ratio (d) 2.7 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 Three Months Ended September 30, 2024 (In millions, except share and per share data) Net income $ 271 $ 193 $ 187 $ 390 Income tax expense (benefit) (55) 49 61 123 Interest expense, net and other income (expense) 41 32 43 36 Depreciation and amortization 40 42 40 42 EBITDA $ 297 $ 316 $ 331 $ 591 Other corporate expenses (a) 14 — 1 1 Change in provision for claimed costs (b) — — — (113) Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 311 $ 316 $ 332 $ 364 Last 12 months Adjusted EBITDA $ 1,323 Total Debt $ 3,979 Less: Cash 711 Net Debt $ 3,268 Net Leverage Ratio (d) 2.5 9 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with the acquisition of Defy Security, and the agreement to acquire Ultra Mission Solutions. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of June 30, (Amounts in millions) 2026 2025 Funded $ 4,664 $ 4,047 Unfunded 10,218 10,441 Priced options 24,601 23,777 Total backlog $ 39,483 $ 38,265 Book-to-Bill (1): Three Months Ended June 30, Trailing Twelve Months Ended June 30, 2026 2025 2026 2025 1.5x 1.4x 1.1x 1.3x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of June 30, (Amounts are rounded) 2026 2025 Total Headcount 30,900 33,400 Customer Staff Headcount 28,200 30,400 Revenue by Customer Type Three Months Ended June 30, 2026 2025 National Security(2) $2,028 $2,001 Civil and Commercial 772 923 Total Revenue $2,800 $2,924 (2) National Security includes revenues from Defense and Intelligence customers, which were previously separately reported. Prior period revenues have been presented to reflect this change. Percentage of Total Revenue by Contract Type Three Months Ended June 30, 2026 2025 Cost-Reimbursable 57% 60% Time-and-Materials 22% 22% Fixed-Price 21% 18% 1024 Jul
8-KEntry into a Material Definitive Agreement22 Jun
8-KMcLean, Virginia - May 22, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the fourth quarter and full year of fiscal 2026. Strong profitability, disciplined execution, and strategic investments position the company for improved performance in FY27 Demand accelerating across portfolios; expect continued growth in National Security portfolio while external factors drive anticipated Civil business declines Record Q4 backlog of $38 billion and trailing twelve-month book-to-bill ratio of 1.1x Continued focus on driving critical mission impact with advanced cyber and defense technologies, AI-native products, and outcomes-based delivery "In a challenging year, Booz Allen delivered strong profitability while continuing to accelerate our transformation," said Horacio Rozanski, Booz Allen Chairman and CEO. "We enter FY27 with momentum and are well-positioned for the year ahead. We’re investing in proven growth areas and building tech to create long-term value for our shareholders and our nation.” Q4 Summary • Revenue of $2.8 billion, a 6.4 percent year-over-year decrease ◦ Revenue ex-billables of $1.9 billion, a 6.8 percent decrease • Net Income of $205 million, a 6.2 percent increase • Adjusted Net Income1 of $215 million, a 5.9 percent increase • Adjusted EBITDA1 of $309 million, a 2.2 percent decrease • Adjusted EBITDA Margin on Revenue1 increased by 50 basis points to 11.1% • Adjusted Diluted EPS1 of $1.78, a 10.6 percent increase • Free cash flow1 of $212 million, compared to $194 million in the prior year • 0.9x quarterly book-to-bill ratio • Total backlog of $38 billion, a 3.1 percent increase FY26 Summary • Revenue of $11.2 billion, a 6.4 percent year-over-year decrease ◦ Revenue ex-billables of $7.8 billion, a 5.3 percent decrease • Net Income of $851 million, a 9.0 percent decrease • Adjusted Net Income1 of $797 million, a 2.2 percent decrease • Adjusted EBITDA1 of $1.23 billion, a 6.5 percent decrease • Adjusted EBITDA Margin on Revenue1 remained flat at 11.0% • Adjusted Diluted EPS1 of $6.51, a 2.5 percent increase • Free cash flow1 of $951 million, compared to $911 million in the prior year • 1.1x trailing twelve month book-to-bill ratio • $1.1 billion in total capital deployment A regular quarterly dividend of $0.59 per share will be payable on June 26, 2026, to stockholders of record on June 10, 2026. Booz Allen Hamilton Announces Fourth Quarter and Full Year Fiscal 2026 Results 1 Due to the fiscal 2025 change in rounding presentation to millions, individual quarters may not sum due to rounding. 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 % Change 2026 2025 % Change (unaudited) (unaudited) Revenue $2,783 $2,974 (6.4)% $11,217 $11,980 (6.4)% Revenue Ex. Billable Expenses $1,906 $2,046 (6.8)% $7,767 $8,200 (5.3)% Net Income $205 $193 6.2% $851 $935 (9.0)% Adjusted Net Income $215 $203 5.9% $797 $815 (2.2)% Diluted EPS $1.68 $1.52 10.5% $6.90 $7.25 (4.8)% Adjusted Diluted EPS $1.78 $1.61 10.6% $6.51 $6.35 2.5% EBITDA $305 $316 (3.5)% $1,196 $1,535 (22.1)% Adjusted EBITDA $309 $316 (2.2)% $1,229 $1,315 (6.5)% Adjusted EBITDA Margin on Revenue 11.1% 10.6% +50 bps 11.0% 11.0% — Net Cash Provided by Operating Activities $240 $218 10.1% $1,041 $1,009 3.2% Free Cash Flow $212 $194 9.3% $951 $911 4.4% FINANCIAL SUMMARY 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 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. EDT on Friday, May 22, 2026, to discuss the financial results for our fourth quarter and full fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, May 22, 2026, and continuing for 12 months. OUTLOOK2 For fiscal year 2027, we expect:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,500 people globally as of March 31, 2026, and had revenue of $11.2 billion for the 12 months ended March 31, 2026. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non- recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, (v) gain associated with divestitures, and (vi) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Consolidated Statements of Operations 6 Three Months Ended March 31, Fiscal Year Ended March 31, (unaudited) (Amounts in millions, except per share data) 2026 2025 2026 2025 Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Operating costs and expenses: Cost of revenue 1,283 1,378 5,305 5,419 Billable expenses 877 928 3,450 3,780 General and administrative expenses 318 352 1,266 1,246 Depreciation and amortization 42 42 163 165 Total operating costs and expenses 2,520 2,700 10,184 10,610 Operating income 263 274 1,033 1,370 Interest expense, net (45) (43) (184) (168) Other income (expense) 8 11 13 17 Income before income taxes 226 242 862 1,219 Income tax expense 21 49 11 284 Net income $ 205 $ 193 $ 851 $ 935 Earnings per common share: Basic $ 1.69 $ 1.53 $ 6.92 $ 7.28 Diluted $ 1.68 $ 1.52 $ 6.90 $ 7.25EXHIBIT 2 Booz Allen Hamilton Holding Corporation Consolidated Balance Sheets (Amounts in millions, except share and per share data) March 31, 2026 March 31, 2025 Assets Current assets: Cash and cash equivalents $ 728 $ 885 Accounts receivable, net 2,063 2,271 Prepaid expenses and other current assets 170 157 Total current assets 2,961 3,313 Property and equipment, net of accumulated depreciation 171 177 Operating lease right-of-use assets 147 178 Intangible assets, net of accumulated amortization 509 563 Goodwill 2,399 2,405 Deferred tax assets 294 332 Other long-term assets 637 344 Total assets $ 7,118 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 83 Accounts payable and other accrued expenses 909 987 Accrued compensation and benefits 641 702 Operating lease liabilities 43 41 Other current liabilities 51 33 Total current liabilities 1,663 1,846 Long-term debt, net of current portion 3,921 3,915 Operating lease liabilities, net of current portion 139 180 Other long-term liabilities 290 368 Total liabilities 6,013 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,805,201 shares at March 31, 2026 and 168,522,544 shares at March 31, 2025; outstanding, 120,341,320 shares at March 31, 2026 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 49,463,881 shares at March 31, 2026 and 43,643,540 shares at March 31, 2025 (3,673) (3,082) Additional paid-in capital 1,155 1,042 Retained earnings 3,644 3,070 Accumulated other comprehensive loss (23) (29) Total stockholders’ equity 1,105 1,003 Total liabilities and stockholders’ equity $ 7,118 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Consolidated Statements of Cash Flows Fiscal Year Ended March 31, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 851 $ 935 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 163 165 Noncash lease expense 51 50 Stock-based compensation expense 69 94 Deferred income taxes 35 (91) Net gains on investments, dispositions, and other (16) (16) Changes in assets and liabilities: Accounts receivable, net 207 (206) Income taxes receivable / payable (11) (31) Prepaid expenses and other current and long-term assets (43) 1 Accrued compensation and benefits (60) 207 Accounts payable and other accrued expenses (86) (66) Other current and long-term liabilities (119) (33) Net cash provided by operating activities 1,041 1,009 Cash flows from investing activities Purchases of property, equipment, and software (90) (98) Proceeds from (payments for) business dispositions and acquisitions, net of cash acquired 22 (97) Net payments for investments (232) (23) Net cash used in investing activities (300) (218) Cash flows from financing activities Proceeds from issuance of common stock 45 38 Repurchases of common stock (598) (812) Cash dividends paid (276) (268) Proceeds from revolving credit facility — 200 Repayments on revolving credit facility, term loans, and Senior Notes (62) (262) (Payments for)/net proceeds from debt refinancing and issuance (7) 644 Net cash used in financing activities (898) (460) Net (decrease) increase in cash and cash equivalents (157) 331 Cash and cash equivalents––beginning of year 885 554 Cash and cash equivalents––end of year $ 728 $ 885 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 191 $ 186 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ 16 $ 22 Unpaid property, equipment and software purchases $ 8 $ 9 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended March 31, Fiscal Year Ended March 31, (In millions, except share and per share data) 2026 2025 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Less: Billable expenses 877 928 3,450 3,780 Revenue, Excluding Billable Expenses* $ 1,906 $ 2,046 $ 7,767 $ 8,200 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 205 $ 193 $ 851 $ 935 Income tax expense 21 49 11 284 Interest expense, net and other income (expense) 37 32 171 151 Depreciation and amortization 42 42 163 165 EBITDA $ 305 $ 316 $ 1,196 $ 1,535 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 4 — 33 8 Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 309 $ 316 $ 1,229 $ 1,315 Net income margin 7.4 % 6.5 % 7.6 % 7.8 % Adjusted EBITDA Margin on Revenue 11.1 % 10.6 % 11.0 % 11.0 % Adjusted Net Income Net income $ 205 $ 193 $ 851 $ 935 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 4 — 33 8 Insurance recoveries (c) — — — (115) Acquisition amortization (d) 12 13 48 54 Amortization or write-off of debt issuance costs and debt discount — 1 — 4 Gain associated with divestitures (e) — — (7) — Adjustments for tax effect (f) (6) (4) (128) 42 Adjusted Net Income $ 215 $ 203 $ 797 $ 815 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 120,738,749 126,255,581 122,375,151 128,290,417 Diluted earnings per share $ 1.68 $ 1.52 $ 6.90 $ 7.25 Adjusted Net Income Per Diluted Share $ 1.78 $ 1.61 $ 6.51 $ 6.35 Free Cash Flow Net cash provided by operating activities $ 240 $ 218 $ 1,041 $ 1,009 Less: Purchases of property, equipment and software (28) (24) (90) (98) Free Cash Flow $ 212 $ 194 $ 951 $ 911 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the fiscal year ended March 31, 2025 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, "Subsequent Events," to the consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Represents the gain recognized on the divestiture of a group of contracts in the third quarter of fiscal 2026. (f) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $24 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Fiscal Year Ended March 31, 2026 Fiscal Year Ended March 31, 2025 (In millions, except share and per share data) Net income $ 851 $ 935 Income tax expense 11 284 Interest expense, net and other income (expense) 171 151 Depreciation and amortization 163 165 EBITDA $ 1,196 $ 1,535 Change in provision for claimed costs (a) — (113) Other corporate expenses (b) 33 8 Insurance recoveries (c) — (115) Last 12 months Adjusted EBITDA $ 1,229 $ 1,315 Total Debt $ 3,940 $ 3,998 Less: Cash 728 885 Net Debt $ 3,212 $ 3,113 Net Leverage Ratio (d) 2.6 2.4 10 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, "Subsequent Events," to the consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of March 31, (Amounts in millions) 2026 2025 Funded $ 4,319 $ 4,421 Unfunded 10,183 8,804 Priced options 23,685 23,802 Total backlog $ 38,187 $ 37,027 Book-to-Bill (1): Three Months Ended March 31, Trailing Twelve Months Ended December 31, 2026 2025 2026 2025 0.9x 0.7x 1.1x 1.4x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of March 31, (Amounts are rounded) 2026 2025 Total Headcount 31,500 35,800 Customer Staff Headcount 28,800 32,700 Revenue by Customer Type Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 2026 2025 Defense $ 1,518 $ 1,527 $ 6,069 $ 5,943 Intelligence 499 458 1,900 1,867 Civil 766 989 3,248 4,170 Total Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Percentage of Total Revenue by Contract Type Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 2026 2025 Cost-Reimbursable 58% 59% 59% 57% Time-and-Materials 23% 22% 22% 23% Fixed-Price 19% 19% 19% 20% 1122 May
8-KBooz Allen Appoints Ryan P. Nolan to Board of Directors McLean, VA. – May 12, 2026 – Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., announced today that it has appointed Ryan P. Nolan to the Board of Directors, eHective June 1, 2026. He will serve on the board’s audit committee. Nolan is a seasoned technology advisor and investor with extensive experience advising technology companies, founders, and long-term investors. He is a partner and co-head of global technology at BDT & MSD Partners where he also serves on the firm's Technology Investment Committee. Nolan brings deep strategic, financial, and technology expertise to Booz Allen. He was previously a partner in Goldman Sachs’ Technology, Media and Telecommunications Group and global co-head of software investment banking. During his 13-year tenure at Goldman Sachs, Nolan advised on capital market transactions that raised more than $50 billion, and on more than $100 billion in merger and acquisition transactions. “Ryan’s success advising and investing in leading technology companies will be an exceptional asset as we focus on delivering advanced, mission-driven innovation to Booz Allen’s global customers,” said Horacio Rozanski, Booz Allen’s Chairman and CEO. “I look forward to our collaboration on the board and the meaningful contributions his experience will bring to the company’s transformation and growth.” Nolan earned a B.B.A. in finance from the University of Notre Dame and a J.D. and M.B.A. from Duke University. He is a Senior Research Fellow at Harvard Kennedy School and a member of the Council on Foreign Relations. He serves on the boards of PBS Foundation, America's Frontier Fund, and Redefine Alliance. About Booz Allen Hamilton Booz Allen is the advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, customers, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: Dustin Darensbourg, [email protected]12 May
8-KBooz Allen Hamilton Appoints Troy Lahr Chief Financial Officer; Names Kristine Martin Anderson President MCLEAN, Virginia – April 27, 2026 – Booz Allen Hamilton (NYSE: BAH) today announced senior leadership appointments that strengthen the company’s position as an advanced technology provider for U.S. federal and global commercial markets. Effective May 4, 2026, Troy Lahr  has been appointed Executive Vice President and Chief Financial Officer. Lahr brings more than 25 years of financial and business leadership experience for both commercial tech and defense companies. As CFO he will oversee the company’s fiscal performance, capital structure, M&A, and related financial operations, reporting directly to Chairman of the Board and Chief Executive Officer Horacio Rozanski. Lahr was most recently CFO at Sierra Space, where he led the company’s financial strategy and performance including accounting and reporting, controllership, financial planning and analysis, tax, and treasury. Prior to that, he was CFO of Boeing’s $27 billion Defense, Space & Security business, following roles of increasing responsibility across the company including head of corporate investor relations, controller, and senior manager of mergers and acquisitions. Lahr began his career with more than a decade in investment banking as an aerospace and defense equity analyst for Stifel. “Troy’s deep and differentiated experience helps position Booz Allen for accelerated growth and bold transformation,” said Rozanski. “His success driving performance across large portfolios and leading through change will be a powerful asset as we work together to advance our next chapter.” Effective May 1, 2026, Chief Operating Officer Kristine Martin Anderson will assume the additional position of President.  Anderson, who has also been acting CFO since February 2026, will continue to report to Rozanski. “Kristine is the driving force in executing Booz Allen’s growth strategy and leading operations as we accelerate our technology transformation,” said Rozanski. “This position reflects her success as COO and her leadership across our entire business. I look forward to continuing to partner with her as we advance our strategic priorities and build the future of Booz Allen.” Anderson has been a leader at Booz Allen for 20 years and became COO in 2022. She previously led the company’s Civil Sector business with a focus on modernizing and transforming missions across U.S. federal civilian departments and agencies, following other senior positions driving growth and innovation.Also effective May 1, 2026, Executive Vice President and Chief Strategy Officer Shannon Fitzgerald will be promoted to President of the Civil Sector. Richard Crowe, Executive Vice President and President of the Civil Sector, has been appointed Chief Growth Officer.   About Booz Allen Hamilton Booz Allen is the advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, customers, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com BAHPR-CO Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: [email protected]27 Apr
8-KEntry into a Material Definitive Agreement2 Mar
8-KRegulation FD Disclosure6 Feb
8-KBooz Allen Hamilton Announces Third Quarter Fiscal 2026 Results McLean, Virginia - January 23, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the third quarter of fiscal 2026. Company reports $2.6 billion in revenue, a 10.2 percent decrease year-over-year, which adjusts to an approximately 6 percent decrease excluding impact of government shutdown1 Record Q3 backlog of $38 billion and quarterly book-to-bill ratio of 0.3x; demand strengthening across Civil and National Security portfolios Strong profitability with Adjusted EBITDA2 of $285 million, a 10.9% margin, and Adjusted Diluted Earnings Per Share2 rising 14.2 percent to $1.77 1.1 percent of outstanding shares repurchased in the third quarter “Booz Allen’s third quarter results are on track and reflect disciplined execution in a dynamic environment. We remain focused on building and delivering tech that works for the most important U.S. missions,” said Horacio Rozanski, Booz Allen Chairman, CEO and President. "We continue to invest and accelerate our growth strategy as we position for the future.” Q3 Summary • Revenue declined 10.2 percent year-over-year to $2.6 billion ◦ Revenue ex-billables declined 6.7 percent to $1.8 billion • Net Income of $200 million, a 7.0 percent increase • Adjusted Net Income2 of $215 million, an 8.6 percent increase • Adjusted EBITDA2 of $285 million, a 14.2 percent decrease • Adjusted EBITDA Margin on Revenue2 decreased by 50 basis points to 10.9% • Adjusted Diluted EPS2 of $1.77, a 14.2 percent increase • Free cash flow2 of $248 million compared to $134 million in the prior year • $195 million in capital deployment • 0.3x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $38 billion, a 1.5 percent increase Fiscal Year to Date Summary • Revenue declined 6.3 percent year-over-year to $8.4 billion ◦ Revenue ex-billables declined 4.7 percent to $5.9 billion • Net Income of $646 million, a 12.9 percent decrease • Adjusted Net Income2 of $582 million, a 4.6 percent decrease • Adjusted EBITDA2of $920 million, a 7.8 percent decrease • Adjusted EBITDA Margin on Revenue2 decreased by 20 basis points to 10.9% • Adjusted Diluted EPS2 of $4.74, flat compared to the prior year • Free cash flow2 of $739 million, compared to $717 million in the prior year A regular quarterly dividend of $0.59 per share will be payable on March 2, 2026, to stockholders of record on February 13, 2026. 1 Due to the fiscal 2025 change in rounding presentation to millions, comparative period presentation within this release has been adjusted accordingly. 1 Revenue, as adjusted for the government shutdown, reflects an estimation of $50 million of revenue lost due to work not performed and an estimation of $60 million of revenue shifted from Q3 FY26 to Q4 FY26 given timing delays in Billable Expenses. 2 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 % Change 2025 2024 % Change (unaudited) (unaudited) Revenue $2,620 $2,917 (10.2)% $8,434 $9,005 (6.3)% Revenue Ex. Billable Expenses $1,846 $1,978 (6.7)% $5,861 $6,153 (4.7)% Net Income $200 $187 7.0% $646 $742 (12.9)% Adjusted Net Income $215 $198 8.6% $582 $610 (4.6)% Diluted EPS $1.63 $1.45 12.4% $5.22 $5.73 (8.9)% Adjusted Diluted EPS $1.77 $1.55 14.2% $4.74 $4.74 —% EBITDA $270 $331 (18.4)% $891 $1,218 (26.8)% Adjusted EBITDA $285 $332 (14.2)% $920 $998 (7.8)% Adjusted EBITDA Margin on Revenue 10.9% 11.4% -50 bps 10.9% 11.1% -20 bps Net Cash Provided by Operating Activities $261 $151 72.8% $801 $790 1.4% Free Cash Flow $248 $134 85.1% $739 $717 3.1% FINANCIAL SUMMARY 3 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 4 Fiscal 2026 Guidance assumes an adjusted effective tax rate of 16–19% and average diluted shares outstanding of 122–123 million. 5 Fiscal 2026 Guidance assumes capital expenditures of approximately $100 million and $235 million cash tax benefit relative to initial guidance, due to new S174 rules under the One Big Beautiful Bill. OPERATING PERFORMANCE UPDATED FISCAL 2026 GUIDANCE PRIOR FISCAL 2026 GUIDANCE Revenue $11.3 - $11.4 billion $11.3 - $11.5 billion Revenue Growth (5.0 - 6.0)% (4.0 - 6.0)% Adjusted EBITDA $1,195 - $1,215 million $1,190 - $1,220 million Adjusted EBITDA Margin on Revenue Mid 10% Mid 10% Adjusted Diluted EPS4 $5.95 - $6.15 $5.45 - $5.65 Free Cash Flow5 $825 - $900 million $850 - $950 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EST on Friday, January 23, 2026, to discuss the financial results for our third quarter of fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EST on Friday, January 23, 2026, and continuing for 12 months. OUTLOOK3 The Company is updating its fiscal year 2026 guidance as noted in the table below:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our firm employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income taxes, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, DC tax assessment adjustment, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, (v) gain associated with divestitures, and (vi) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include: • any issue that compromises our relationships with the U.S. government or damages our professional reputation, including negative publicity concerning government contractors in general or us in particular; • changes in U.S. government spending, including a continuation of efforts by the U.S. government to reduce U.S. government spending, increased insourcing by certain U.S. government agencies, and shifts in expenditures away from agencies or programs that we support, as well as associated uncertainty around the timing, extent, nature and effect of such efforts; • U.S. government shutdowns as well as delayed long-term funding of our contracts; • failure to comply with new and existing U.S. and international laws and regulations; • our ability to compete effectively in the competitive bidding process and delays or losses of contract awards caused by competitors’ protests of major contract awards received by us; • the loss of U.S. government GSA Schedules or our position as prime contractor on government-wide acquisition contract vehicles (“GWACs”); • variable purchasing patterns under certain of our U.S. government contracts and changes in the mix of our contracts including our ability to accurately estimate or otherwise recover expenses, time, and resources for our contracts; • our ability to realize the full value of and replenish our backlog, generate revenue under certain of our contracts, and the timing of our receipt of revenue under contracts included in backlog; • internal system or service failures and security breaches, including, but not limited to, those resulting from external or internal threats, including cyber attacks on our network and internal systems or on our customers’ network or internal systems; • misconduct or other improper activities from our employees, subcontractors or suppliers, including the improper access, use or release of our or our customers’ sensitive or classified information; • failure to maintain strong relationships with other contractors, or the failure of contractors with which we have entered into a sub or prime-contractor relationship to meet their obligations to us or our customers; • inherent uncertainties and potential adverse developments in legal or regulatory proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, withheld payments, penalties, or other unfavorable outcomes including debarment, as well as disputes over the availability of insurance or indemnification; • risks related to a possible recession and volatility or instability of the global financial system, including the failures of financial institutions and the resulting impact on counterparties and business conditions generally; • risks related to a deterioration of economic conditions or weakening in credit or capital markets; • risks related to pending, completed, and future acquisitions and dispositions, including the ability to satisfy specified closing conditions for pending transactions, such as those related to receipt of regulatory approval or lack of regulatory intervention, and to realize the expected benefits from completed acquisitions and dispositions; • risks inherent in the government contracting environment; and • risks related to our indebtedness and credit facilities which contain financial and operating covenants. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K filed with the SEC on May 23, 2025. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations 6 Three Months Ended December 31, Nine Months Ended December 31, (unaudited) (unaudited) (Amounts in millions, except per share data) 2025 2024 2025 2024 Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Operating costs and expenses: Cost of revenue 1,259 1,305 4,022 4,039 Billable expenses 774 939 2,573 2,852 General and administrative expenses 317 342 948 896 Depreciation and amortization 40 40 121 123 Total operating costs and expenses 2,390 2,626 7,664 7,910 Operating income 230 291 770 1,095 Interest expense, net (47) (42) (139) (126) Other income (expense) 4 (1) 5 6 Income before income taxes 187 248 636 975 Income tax (benefit) expense (13) 61 (10) 233 Net income $ 200 $ 187 $ 646 $ 742 Earnings per common share: Basic $ 1.64 $ 1.46 $ 5.23 $ 5.75 Diluted $ 1.63 $ 1.45 $ 5.22 $ 5.73EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (Amounts in millions, except share and per share data) December 31, 2025 March 31, 2025 Assets (unaudited) Current assets: Cash and cash equivalents $ 882 $ 885 Accounts receivable, net 2,048 2,271 Prepaid expenses and other current assets 147 157 Total current assets 3,077 3,313 Property and equipment, net of accumulated depreciation 163 177 Operating lease right-of-use assets 159 178 Intangible assets, net of accumulated amortization 517 563 Goodwill 2,399 2,405 Deferred tax assets 315 332 Other long-term assets 421 344 Total assets $ 7,051 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 83 $ 83 Accounts payable and other accrued expenses 866 987 Accrued compensation and benefits 670 702 Operating lease liabilities 41 41 Other current liabilities 43 33 Total current liabilities 1,703 1,846 Long-term debt, net of current portion 3,857 3,915 Operating lease liabilities, net of current portion 156 180 Other long-term liabilities 310 368 Total liabilities 6,026 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,274,466 shares at December 31, 2025 and 168,522,544 shares at March 31, 2025; outstanding, 120,863,944 shares at December 31, 2025 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 48,410,522 shares at December 31, 2025 and 43,643,540 shares at March 31, 2025 (3,586) (3,082) Additional paid-in capital 1,129 1,042 Retained earnings 3,511 3,070 Accumulated other comprehensive (loss) income (31) (29) Total stockholders’ equity 1,025 1,003 Total liabilities and stockholders’ equity $ 7,051 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows UNAUDITED Nine Months Ended December 31, (Amounts in millions) 2025 2024 Cash flows from operating activities Net income $ 646 $ 742 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 121 123 Noncash lease expense 37 39 Stock-based compensation expense 52 71 Net gains on investments, dispositions, and other (11) (7) Changes in operating assets and liabilities: Accounts receivable, net 214 (159) Deferred income taxes and income taxes receivable/payable 35 (105) Prepaid expenses and other current and long-term assets (62) (16) Accrued compensation and benefits (19) 224 Accounts payable and other accrued expenses (113) (103) Other current and long-term liabilities (99) (19) Net cash provided by operating activities 801 790 Cash flows from investing activities Purchases of property, equipment, and software (62) (73) Proceeds from (payments for) business dispositions and acquisitions, net of cash acquired 24 (97) Net payments for investments (14) (14) Net cash used in investing activities (52) (184) Cash flows from financing activities Proceeds from issuance of common stock 37 30 Repurchases of common stock (521) (497) Cash dividends paid (205) (198) Repayments on revolving credit facility, term loans, and Senior Notes (63) (41) Net cash used in financing activities (752) (706) Net decrease in cash and cash equivalents (3) (100) Cash and cash equivalents––beginning of period 885 554 Cash and cash equivalents––end of period $ 882 $ 454 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 130 $ 121 Income taxes $ 54 $ 322 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended December 31, Nine Months Ended December 31, (In millions, except share and per share data) 2025 2024 2025 2024 Revenue, Excluding Billable Expenses Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Less: Billable expenses 774 939 2,573 2,852 Revenue, Excluding Billable Expenses* $ 1,846 $ 1,978 $ 5,861 $ 6,153 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 200 $ 187 $ 646 $ 742 Income tax (benefit) expense (13) 61 (10) 233 Interest expense, net and other income (expense) 43 43 134 120 Depreciation and amortization 40 40 121 123 EBITDA $ 270 $ 331 $ 891 $ 1,218 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 15 1 29 8 Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 285 $ 332 $ 920 $ 998 Net income margin 7.6 % 6.4 % 7.7 % 8.2 % Adjusted EBITDA Margin on Revenue 10.9 % 11.4 % 10.9 % 11.1 % Adjusted Net Income Net income $ 200 $ 187 $ 646 $ 742 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 15 1 29 8 Insurance recoveries (c) — — — (115) Acquisition amortization (d) 12 13 36 39 Amortization or write-off of debt issuance costs and debt discount — 1 — 3 Gain associated with divestitures (e) (7) — (7) — Adjustments for tax effect (f) (5) (4) (122) 46 Adjusted Net Income $ 215 $ 198 $ 582 $ 610 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 121,347,528 127,940,137 122,907,942 128,909,493 Diluted earnings per share $ 1.63 $ 1.45 $ 5.22 $ 5.73 Adjusted Net Income Per Diluted Share $ 1.77 $ 1.55 $ 4.74 $ 4.74 Free Cash Flow Net cash provided by operating activities $ 261 $ 151 $ 801 $ 790 Less: Purchases of property, equipment and software (13) (17) (62) (73) Free Cash Flow $ 248 $ 134 $ 739 $ 717 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the nine months ending December 31, 2024 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, as well as transaction costs associated with a divestiture. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Represents the gain recognized on the divestiture of a group of contracts the third quarter of fiscal 2026. (f) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $23 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 9, "Income Taxes," to the condensed consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 (In millions, except share and per share data) Net income $ 200 $ 175 $ 271 $ 193 Income tax expense (benefit) (13) 58 (55) 49 Interest expense, net and other income (expense) 43 50 41 32 Depreciation and amortization 40 41 40 42 EBITDA $ 270 $ 324 $ 297 $ 316 Other corporate expenses (a) 15 — 14 — Adjusted EBITDA $ 285 $ 324 $ 311 $ 316 Last 12 months Adjusted EBITDA $ 1,236 Total Debt $ 3,940 Less: Cash 882 Net Debt $ 3,058 Net Leverage Ratio (e) 2.5 Three Months Ended December 31, 2024 Three Months Ended September 30, 2024 Three Months Ended June 30, 2024 Three Months Ended March 31, 2024 (In millions, except share and per share data) Net income $ 187 $ 390 $ 165 $ 128 Income tax expense 61 123 49 91 Interest expense, net and other income (expense) 43 36 41 45 Depreciation and amortization 40 42 41 40 EBITDA $ 331 $ 591 $ 296 $ 304 Other corporate expenses (a) 1 1 6 2 Change in provision for claimed costs (b) — (113) — — Insurance recoveries (c) — (115) — — DC tax assessment adjustment (d) — — — (20) Adjusted EBITDA $ 332 $ 364 $ 302 $ 286 Last 12 months Adjusted EBITDA $ 1,284 Total Debt $ 3,374 Less: Cash 454 Net Debt $ 2,920 Net Leverage Ratio (e) 2.3 10 (a) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, as well as transaction costs associated with a divestiture. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Reflects the impact (specifically the revenue from recoverable expenses) of the Company's unfavorable ruling from the District of Columbia Court of Appeals related to contested tax assessments from the District of Columbia Office of Tax and Revenue (“DC OTR”). See Note 13, “Income Taxes,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024 for further information. (e) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog (1): As of December 31, (Amounts in millions) 2025 2024 Funded $ 4,206 $ 4,658 Unfunded 10,059 8,478 Priced options 24,191 24,743 Total backlog $ 38,456 $ 37,879 (1) Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Book-to-Bill (1): Three Months Ended December 31, Trailing Twelve Months Ended December 31, 2025 2024 2025 2024 0.3x 0.6x 1.1x 1.4x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Headcount As of December 31, (Amounts are rounded) 2025 2024 Total Headcount 31,600 35,900 Customer Staff Headcount 29,000 32,700 Revenue by Customer Type Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Defense $ 1,454 $ 1,453 $ 4,551 $ 4,421 Intelligence 434 452 1,401 1,403 Civil 732 1,012 2,482 3,181 Total Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Percentage of Total Revenue by Contract Type Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Cost-Reimbursable 58% 57% 59% 57% Time-and-Materials 22% 23% 22% 23% Fixed-Price 20% 20% 19% 20% 1123 Jan
8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers15 Dec 2025
8-KBooz Allen Hamilton Announces Second Quarter Fiscal 2026 Results McLean, Virginia - October 24, 2025 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the second quarter of fiscal 2026. Top and bottom-line performance below forecast driven by continued funding slowdown Solid growth across national security portfolio; civil business experiencing delayed recovery Record Q2 backlog of $40 billion and quarterly book-to-bill ratio of 1.7x 2.7 percent of outstanding shares repurchased in first half of fiscal year Full year outlook adjusted to reflect current environment "Our second quarter results reflect a bifurcated market. We are winning work and demand is strong for our leading cyber, AI, and warfighting technologies," said Horacio Rozanski, Booz Allen Chairman, CEO and President. "We remain focused on accelerating future growth while building advanced tech that keeps America safe and strong." Q2 Summary • Revenue declined 8.1 percent year-over-year to $2.9 billion ◦ Excluding prior year change to the provision for claimed costs, revenue declined 4.7 percent • Net Income of $175 million, a 55.1 percent decrease • Adjusted Net Income1 of $183 million, a 21.5 percent decrease • Adjusted EBITDA1 of $324 million, an 11.0 percent decrease • Adjusted EBITDA Margin on Revenue1 decreased by 40 basis points to 11.2% • Adjusted Diluted EPS1 of $1.49, a 17.7 percent decrease • Free cash flow1 of $395 million compared to $563 million in the prior year • $279 million in capital deployment • 1.7x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $40 billion, a 2.9 percent increase First Half Summary ◦ Revenue declined 4.5 percent year-over-year to $5.8 billion ▪ Excluding prior year change to the provision for claimed costs, revenue declined 2.7 percent ◦ Net Income of $446 million, a 19.6 percent decrease ◦ Adjusted Net Income1 of $367 million, an 11.1 percent decrease ◦ Adjusted EBITDA1 of $635 million, a 4.7 percent decrease ◦ Adjusted EBITDA Margin on Revenue1 remained flat at 10.9% ◦ Adjusted Diluted EPS1 of $2.97, a 6.9 percent decrease ◦ Free cash flow1 of $491 million, compared to $583 million in the prior year A regular quarterly dividend of $0.55 per share will be payable on December 2, 2025, to stockholders of record on November 14, 2025. 1 Due to the fiscal 2025 change in rounding presentation to millions, comparative period presentation within this release has been adjusted accordingly. 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended September 30, Six Months Ended September 30, 2025 2024 % Change 2025 2024 % Change (unaudited) (unaudited) Revenue $2,890 $3,146 (8.1)% $5,814 $6,088 (4.5)% Revenue Ex. Billable Expenses $1,972 $2,178 (9.5)% $4,015 $4,175 (3.8)% Net Income $175 $390 (55.1)% $446 $555 (19.6)% Adjusted Net Income $183 $233 (21.5)% $367 $413 (11.1)% Diluted EPS $1.42 $3.01 (52.8)% $3.58 $4.27 (16.2)% Adjusted Diluted EPS $1.49 $1.81 (17.7)% $2.97 $3.19 (6.9)% EBITDA $324 $591 (45.2)% $621 $887 (30.0)% Adjusted EBITDA $324 $364 (11.0)% $635 $666 (4.7)% Adjusted EBITDA Margin on Revenue 11.2% 11.6% -40 bps 10.9% 10.9% — Net Cash Provided by Operating Activities $421 $587 (28.3)% $540 $639 (15.5)% Free Cash Flow $395 $563 (29.8)% $491 $583 (15.8)% FINANCIAL SUMMARY 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 Fiscal 2026 Guidance assumes an adjusted effective tax rate of 23–25% and average diluted shares outstanding of 122–123 million. 4 Fiscal 2026 Guidance assumes capital expenditures of approximately $100 million and $235 million cash tax benefit relative to initial guidance, due to new S174 rules under the One Big Beautiful Bill. OPERATING PERFORMANCE UPDATED FISCAL 2026 GUIDANCE PRIOR FISCAL 2026 GUIDANCE Revenue $11.3 - $11.5 billion $12.0 - $12.5 billion Revenue Growth (4.0 - 6.0)% 0 - 4.0% Adjusted EBITDA $1,190 - $1,220 million $1,315 - $1,370 million Adjusted EBITDA Margin on Revenue Mid 10% ~11% Adjusted Diluted EPS3 $5.45 - $5.65 $6.20 - $6.55 Free Cash Flow4 $850 - $950 million $900 - $1,000 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EDT on Friday, October 24, 2025, to discuss the financial results for our second quarter of fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, October 24, 2025, and continuing for 12 months. OUTLOOK2 The Company is updating its fiscal year 2026 guidance as noted in the table below:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our firm employs approximately 32,500 people globally as of September 30, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income taxes, interest expense, net and other income (expense), net, and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), net and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, DC tax assessment adjustment, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, and (v) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include: • any issue that compromises our relationships with the U.S. government or damages our professional reputation, including negative publicity concerning government contractors in general or us in particular; • changes in U.S. government spending, including a continuation of efforts by the U.S. government to reduce U.S. government spending, increased insourcing by certain U.S. government agencies, and shifts in expenditures away from agencies or programs that we support, as well as associated uncertainty around the timing, extent, nature and effect of such efforts; • U.S. government shutdowns as well as delayed long-term funding of our contracts; • failure to comply with new and existing U.S. and international laws and regulations; • our ability to compete effectively in the competitive bidding process and delays or losses of contract awards caused by competitors’ protests of major contract awards received by us; • the loss of U.S. government GSA Schedules or our position as prime contractor on government-wide acquisition contract vehicles (“GWACs”); • variable purchasing patterns under certain of our U.S. government contracts and changes in the mix of our contracts including our ability to accurately estimate or otherwise recover expenses, time, and resources for our contracts; • our ability to realize the full value of and replenish our backlog, generate revenue under certain of our contracts, and the timing of our receipt of revenue under contracts included in backlog; • internal system or service failures and security breaches, including, but not limited to, those resulting from external or internal threats, including cyber attacks on our network and internal systems or on our customers’ network or internal systems; • misconduct or other improper activities from our employees, subcontractors or suppliers, including the improper access, use or release of our or our customers’ sensitive or classified information; • failure to maintain strong relationships with other contractors, or the failure of contractors with which we have entered into a sub or prime-contractor relationship to meet their obligations to us or our customers; • inherent uncertainties and potential adverse developments in legal or regulatory proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, withheld payments, penalties, or other unfavorable outcomes including debarment, as well as disputes over the availability of insurance or indemnification; • risks related to a possible recession and volatility or instability of the global financial system, including the failures of financial institutions and the resulting impact on counterparties and business conditions generally; • risks related to a deterioration of economic conditions or weakening in credit or capital markets; • risks related to pending, completed, and future acquisitions and dispositions, including the ability to satisfy specified closing conditions for pending transactions, such as those related to receipt of regulatory approval or lack of regulatory intervention, and to realize the expected benefits from completed acquisitions and dispositions; • risks inherent in the government contracting environment; and • risks related to our indebtedness and credit facilities which contain financial and operating covenants. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K filed with the SEC on May 23, 2025. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations 6 Three Months Ended September 30, Six Months Ended September 30, (unaudited) (unaudited) (Amounts in millions, except per share data) 2025 2024 2025 2024 Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Operating costs and expenses: Cost of revenue 1,340 1,362 2,763 2,734 Billable expenses 918 968 1,799 1,913 General and administrative expenses 308 225 631 554 Depreciation and amortization 41 42 81 83 Total operating costs and expenses 2,607 2,597 5,274 5,284 Operating income 283 549 540 804 Interest expense, net (48) (46) (92) (84) Other (expense) income (2) 10 1 7 Income before income taxes 233 513 449 727 Income tax expense 58 123 3 172 Net income $ 175 $ 390 $ 446 $ 555 Earnings per common share: Basic $ 1.42 $ 3.02 $ 3.59 $ 4.29 Diluted $ 1.42 $ 3.01 $ 3.58 $ 4.27EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (Amounts in millions, except share and per share data) September 30, 2025 March 31, 2025 Assets (unaudited) Current assets: Cash and cash equivalents $ 816 $ 885 Accounts receivable, net 2,217 2,271 Prepaid expenses and other current assets 188 157 Total current assets 3,221 3,313 Property and equipment, net of accumulated depreciation 171 177 Operating lease right-of-use assets 160 178 Intangible assets, net of accumulated amortization 537 563 Goodwill 2,405 2,405 Deferred tax assets 244 332 Other long-term assets 415 344 Total assets $ 7,153 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 83 $ 83 Accounts payable and other accrued expenses 1,001 987 Accrued compensation and benefits 675 702 Operating lease liabilities 41 41 Other current liabilities 34 33 Total current liabilities 1,834 1,846 Long-term debt, net of current portion 3,877 3,915 Operating lease liabilities, net of current portion 160 180 Other long-term liabilities 286 368 Total liabilities 6,157 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,111,128 shares at September 30, 2025 and 168,522,544 shares at March 31, 2025; outstanding, 122,025,314 shares at September 30, 2025 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 47,085,814 shares at September 30, 2025 and 43,643,540 shares at March 31, 2025 (3,459) (3,082) Additional paid-in capital 1,105 1,042 Retained earnings 3,378 3,070 Accumulated other comprehensive (loss) income (30) (29) Total stockholders’ equity 996 1,003 Total liabilities and stockholders’ equity $ 7,153 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows UNAUDITED Six Months Ended September 30, (Amounts in millions) 2025 2024 Cash flows from operating activities Net income $ 446 $ 555 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 81 83 Noncash lease expense 25 26 Stock-based compensation expense 36 46 Net gains on investments, dispositions, and other (4) (8) Changes in operating assets and liabilities: Accounts receivable, net 54 (161) Deferred income taxes and income taxes receivable / payable 78 (30) Prepaid expenses and other current and long-term assets (77) (29) Accrued compensation and benefits (13) 195 Accounts payable and other accrued expenses 23 (24) Other current and long-term liabilities (109) (14) Net cash provided by operating activities 540 639 Cash flows from investing activities Purchases of property, equipment, and software (49) (56) Payments for business acquisitions and dispositions, net of cash acquired — (93) Net payments for investments (12) (4) Net cash used in investing activities (61) (153) Cash flows from financing activities Proceeds from issuance of common stock 27 21 Repurchases of common stock (395) (348) Cash dividends paid (138) (133) Repayments on revolving credit facility, term loans, and Senior Notes (42) (21) Net cash used in financing activities (548) (481) Net (decrease) increase in cash and cash equivalents (69) 5 Cash and cash equivalents––beginning of period 885 554 Cash and cash equivalents––end of period $ 816 $ 559 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 87 $ 97 Income taxes $ 41 $ 190 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended September 30, Six Months Ended September 30, (In millions, except share and per share data) 2025 2024 2025 2024 Revenue, Excluding Billable Expenses Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Less: Billable expenses 918 968 1,799 1,913 Revenue, Excluding Billable Expenses* $ 1,972 $ 2,178 $ 4,015 $ 4,175 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 175 $ 390 $ 446 $ 555 Income tax expense 58 123 3 172 Interest expense, net and other income (expense), net 50 36 91 77 Depreciation and amortization 41 42 81 83 EBITDA $ 324 $ 591 $ 621 $ 887 Change in provision for claimed costs (a) — (113) — (113) Other corporate expenses (b) — 1 14 7 Insurance recoveries (c) — (115) — (115) Adjusted EBITDA $ 324 $ 364 $ 635 $ 666 Net income margin 6.1 % 12.4 % 7.7 % 9.1 % Adjusted EBITDA Margin on Revenue 11.2 % 11.6 % 10.9 % 10.9 % Adjusted Net Income Net income $ 175 $ 390 $ 446 $ 555 Change in provision for claimed costs (a) — (113) — (113) Other corporate expenses (b) — 1 14 7 Acquisition amortization (d) 12 13 24 26 Insurance recoveries (c) — (115) — (115) Amortization or write-off of debt issuance costs and debt discount — 2 — 3 Adjustments for tax effect (e) (4) 55 (117) 50 Adjusted Net Income $ 183 $ 233 $ 367 $ 413 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 122,881,563 128,848,077 123,677,992 129,387,722 Diluted earnings per share $ 1.42 $ 3.01 $ 3.58 $ 4.27 Adjusted Net Income Per Diluted Share $ 1.49 $ 1.81 $ 2.97 $ 3.19 Free Cash Flow Net cash provided by operating activities $ 421 $ 587 $ 540 $ 639 Less: Purchases of property, equipment and software (26) (24) (49) (56) Free Cash Flow $ 395 $ 563 $ 491 $ 583 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the three and six months ending September 30, 2024 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from a cost management initiative and restructuring of the Civil business. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 9, "Income Taxes," to the condensed consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 (In millions, except share and per share data) Net income $ 175 $ 271 $ 193 $ 187 Income tax expense (benefit) 58 (55) 49 61 Interest expense, net and other income (expense) 50 41 32 43 Depreciation and amortization 41 40 42 40 EBITDA $ 324 $ 297 $ 316 $ 331 Other corporate expenses (a) — 14 — 1 Adjusted EBITDA $ 324 $ 311 $ 316 $ 332 Last 12 months Adjusted EBITDA $ 1,283 Total Debt $ 3,960 Less: Cash 816 Net Debt $ 3,144 Net Leverage Ratio (e) 2.5 Three Months Ended September 30, 2024 Three Months Ended June 30, 2024 Three Months Ended March 31, 2024 Three Months Ended December 31, 2023 (In millions, except share and per share data) Net income $ 390 $ 165 $ 128 $ 146 Income tax expense 123 49 91 62 Interest expense, net and other income (expense) 36 41 45 40 Depreciation and amortization 42 41 40 41 EBITDA $ 591 $ 296 $ 304 $ 289 Change in provision for claimed costs (b) (113) — — — Insurance recoveries (c) (115) — — — Other corporate expenses (a) 1 6 2 2 DC tax assessment adjustment (d) — — (20) — Adjusted EBITDA $ 364 $ 302 $ 286 $ 291 Last 12 months Adjusted EBITDA $ 1,243 Total Debt $ 3,393 Less: Cash 559 Net Debt $ 2,834 Net Leverage Ratio (e) 2.3 10 (a) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from a cost management initiative and restructuring of the Civil business. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Reflects the impact (specifically the revenue from recoverable expenses) of the Company's unfavorable ruling from the District of Columbia Court of Appeals related to contested tax assessments from the District of Columbia Office of Tax and Revenue (“DC OTR”). See Note 13, “Income Taxes,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024 for further information. (e) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog (1): As of September 30, (Amounts in millions) 2025 2024 Funded $ 5,440 $ 5,794 Unfunded 10,668 8,946 Priced options 24,080 24,326 Total backlog $ 40,188 $ 39,066 (1) Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Book-to-Bill (1): Three Months Ended September 30, Trailing Twelve Months Ended June 30, 2025 2024 2025 2024 1.7x 2.4x 1.1x 1.5x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Headcount As of September 30, (Amounts are rounded) 2025 2024 Total Headcount 32,500 35,800 Customer Staff Headcount 29,600 32,700 Revenue by Customer Type Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 Defense $ 1,580 $ 1,547 $ 3,097 $ 2,968 Intelligence 483 494 967 951 Civil 827 1,105 1,750 2,169 Total Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Percentage of Total Revenue by Contract Type Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 Cost-Reimbursable 59% 57% 60% 56% Time-and-Materials 22% 23% 22% 23% Fixed-Price 19% 20% 18% 21% 1124 Oct 2025
8-KSubmission of Matters to Shareholder Vote29 Jul 2025

Insider Ownership(899)

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Form 4ANDERSON KRISTINE9 Nov
Form 4Pfeifer Thomas9 Nov
Form 4Petty Joshua9 Nov
Form 4Lahr Troy9 Nov
Form 4Medairy John Bradley9 Nov
Form 4ROZANSKI HORACIO9 Nov
Form 4Metzfield Dennis9 Nov
Form 4Fitzgerald Buffum Shannon9 Nov
Form 3Medairy John Bradley9 Nov
Form 4Metzfield Dennis3 Nov
Form 4Fitzgerald Buffum Shannon30 Oct
Form 4Petty Joshua30 Oct
Form 4Metzfield Dennis17 Aug
Form 4READ RORY P6 Aug
Form 4Jewett Ellen6 Aug

Beneficial Ownership(68)

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SC 13G/ABooz Allen Hamilton Holding Corp14 Aug
SC 13G/ABooz Allen Hamilton Holding Corp14 Aug
SC 13GBooz Allen Hamilton Holding Corp6 Aug
SC 13GBooz Allen Hamilton Holding Corp15 May
SC 13G/ABooz Allen Hamilton Holding Corp15 May
SC 13GBooz Allen Hamilton Holding Corp29 Apr
SC 13GBooz Allen Hamilton Holding Corp29 Apr
SC 13G/ABooz Allen Hamilton Holding Corp26 Mar
SC 13GBooz Allen Hamilton Holding Corp17 Feb
SC 13G/ABooz Allen Hamilton Holding Corp30 Jan
SC 13G/ABooz Allen Hamilton Holding Corp8 Jan
SC 13G/ABooz Allen Hamilton Holding Corp17 Oct 2025
SC 13G/ABooz Allen Hamilton Holding Corp14 Aug 2025
SC 13G/ABooz Allen Hamilton Holding Corp14 Feb 2025
SC 13G/ABooz Allen Hamilton Holding Corp14 Nov 2024

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Form 144Petty Joshua28 Oct
Form 144Fitzgerald Buffum Shannon28 Oct
Form 144Metzfield Dennis13 Aug
Form 144Laben Nancy4 Jun
Form 144Calderone Matthew7 Apr
Form 144Metzfield Dennis26 Feb
Form 144Dotson Judith3 Sep 2025
Form 144Laben Nancy25 Oct 2024
Form 144Crowe Richard24 Oct 2024
Form 144Calderone Matthew24 Oct 2024
Form 144Calderone Matthew23 Sep 2024
Form 144Barnes Melody C1 Aug 2024
Form 144Crowe Richard5 Jun 2024
Form 144Thompson Elizabeth M30 May 2024
Form 144Penfield Susan L30 May 2024

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DEFA14ADefinitive additional materials9 Jul
DEFA14ADefinitive additional materials11 Jun
DEF 14ADefinitive proxy statement11 Jun
DEFA14ADefinitive additional materials8 Jul 2025
DEFA14ADefinitive additional materials12 Jun 2025
DEF 14ADefinitive proxy statement12 Jun 2025
DEFA14ADefinitive additional materials9 Jul 2024
DEFA14ADefinitive additional materials27 Jun 2024
DEFA14ADefinitive additional materials13 Jun 2024
DEF 14ADefinitive proxy statement13 Jun 2024
DEFA14ADefinitive additional materials12 Jul 2023
DEFA14ADefinitive additional materials15 Jun 2023
DEF 14ADefinitive proxy statement15 Jun 2023
PRE 14APreliminary proxy statement26 May 2023
DEFA14ADefinitive additional materials11 Jul 2022

Registrations(47)

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424B2Prospectus filing (Rule 424(b)(2))30 Jul
FWPFree writing prospectus28 Jul
424B2Prospectus filing (Rule 424(b)(2))28 Jul
S-3ASRAutomatic shelf registration statement (S-3)24 Jul
424B2Prospectus filing (Rule 424(b)(2))13 Mar 2025
424B2Prospectus filing (Rule 424(b)(2))11 Mar 2025
FWPFree writing prospectus11 Mar 2025
424B2Prospectus filing (Rule 424(b)(2))3 Aug 2023
424B2Prospectus filing (Rule 424(b)(2))1 Aug 2023
FWPFree writing prospectus1 Aug 2023
S-8 POSPost-effective amendment (employee benefit plan)31 Jul 2023
S-8 POSPost-effective amendment (employee benefit plan)31 Jul 2023
S-3ASRAutomatic shelf registration statement (S-3)31 Jul 2023
424B4Prospectus filing (Rule 424(b)(4))5 Dec 2016
FWPFree writing prospectus1 Dec 2016

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CORRESPFiling review correspondence20 Mar 2025
CORRESPFiling review correspondence22 Feb 2023
CORRESPFiling review correspondence23 Jun 2020
CORRESPFiling review correspondence6 Oct 2017
CORRESPFiling review correspondence31 Aug 2017
CORRESPFiling review correspondence12 Nov 2010
CORRESPFiling review correspondence12 Nov 2010
CORRESPFiling review correspondence8 Nov 2010
UPLOADFiling review upload5 Nov 2010
CORRESPFiling review correspondence30 Sep 2010
UPLOADFiling review upload15 Sep 2010
CORRESPFiling review correspondence31 Aug 2010
UPLOADFiling review upload25 Aug 2010
CORRESPFiling review correspondence30 Jul 2010
UPLOADFiling review upload19 Jul 2010

SEC Orders And Notices(2)

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CT ORDERConfidential treatment order19 Sep 2017
EFFECTNotice of effectiveness16 Nov 2010

Exempt Offerings(5)

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D/ANotice of exempt offering of securities (Reg D, amendment)24 May 2010
D/ANotice of exempt offering of securities (Reg D, amendment)24 May 2010
D/ANotice of exempt offering of securities (Reg D, amendment)24 May 2010
D/ANotice of exempt offering of securities (Reg D, amendment)27 Jul 2009
DNotice of exempt offering of securities (Reg D)20 May 2009

Other(15)

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SDSD30 May 2024
SDSD30 May 2023
SDSD24 May 2021
SDSD27 May 2020
SDSD31 May 2019
SDSD25 May 2018
SDSD24 May 2017
SDSD31 May 2016
SDSD1 Jun 2015
SDSD2 Jun 2014
IRANNOTICEIRANNOTICE23 May 2013
IRANNOTICEIRAN NOTICE25 Mar 2013
CERTNYSAUTO-GENERATED PAPER DOCUMENT16 Nov 2010
NO ACTAUTO-GENERATED PAPER DOCUMENT12 Nov 2010
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Financials(67)

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10-QQ2ended 30 Sept 202623 Oct
10-QQ1ended 30 Jun 202624 Jul
10-KFY 2026ended 31 Mar 202622 May
10-QQ3ended 31 Dec 202523 Jan
10-QQ2ended 30 Sept 202524 Oct 2025
10-QQ1ended 30 Jun 202525 Jul 2025
10-KFY 2025ended 31 Mar 202523 May 2025
10-QQ3ended 31 Dec 202431 Jan 2025
10-QQ2ended 30 Sept 202425 Oct 2024
10-QQ1ended 30 Jun 202426 Jul 2024
10-KFY 2024ended 31 Mar 202424 May 2024
10-QQ3ended 31 Dec 202326 Jan 2024
10-QQ2ended 30 Sept 202327 Oct 2023
10-QQ1ended 30 Jun 202328 Jul 2023
10-KFY 2023ended 31 Mar 202326 May 2023

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8-KBooz Allen Hamilton Announces Second Quarter Fiscal 2027 Results 11 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details. McLean, Virginia - October 23, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the second quarter of fiscal 2027. Profitability above expectations driven by strong operational execution Momentum across National Security portfolio; Civil business performing in line with expectations Total backlog up 1.9% year-over-year to $41 billion and quarterly book-to-bill ratio of 1.5x Adjusted Diluted EPS1 guidance raised above prior range Accelerating investments and delivery of advanced cyber, agentic, and defense technologies to drive speed, outcomes and mission impact "Booz Allen is executing exceptionally well and investing in our next phase of growth," said Horacio Rozanski, Booz Allen Chairman and CEO. "We are building and scaling our cyber and defense tech products and bringing super intelligence into our nation’s most critical missions to deliver greater value and impact." Q2 Summary • Revenue of $2.8 billion, a 3.9 percent year-over-year decrease ◦ Revenue ex-billables of $2.0 billion, a 0.8 percent decrease • Net Income of $181 million, a 3.4 percent increase • Adjusted Net Income1 of $211 million, a 15.3 percent increase • Adjusted EBITDA1 of $313 million, a 3.4 percent decrease • Adjusted EBITDA Margin on Revenue1 increased by 10 basis points to 11.3% • Adjusted Diluted EPS1 of $1.76, an 18.1 percent increase • Free cash flow1 of $263 million, compared to $395 million in the prior year • $965 million in total capital deployment • 1.5x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $41 billion, a 1.9 percent increase A regular quarterly dividend of $0.59 per share will be payable on December 4, 2026, to stockholders of record on November 12, 2026. FINANCIAL SUMMARY TABLE Three Months Ended September 30, Six Months Ended September 30, 2026 2026 2025 % Change 2026 2025 % Change (unaudited) (unaudited) Revenue $2,778 $2,890 (3.9)% $5,578 $5,814 (4.1)% Revenue Ex. Billable Expenses $1,957 $1,972 (0.8)% $3,922 $4,015 (2.3)% Net Income $181 $175 3.4% $379 $446 (15.0)% Adjusted Net Income $211 $183 15.3% $428 $367 16.6% Diluted EPS $1.50 $1.42 5.6% $3.13 $3.58 (12.6)% Adjusted Diluted EPS $1.76 $1.49 18.1% $3.57 $2.97 20.2% EBITDA $296 $324 (8.6)% $620 $621 (0.2)% Adjusted EBITDA $313 $324 (3.4)% $647 $635 1.9% Adjusted EBITDA Margin on Revenue 11.3% 11.2% +10 bps 11.6% 10.9% +70 bps Net Cash Provided by Operating Activities $294 $421 (30.2)% $575 $540 6.5% Free Cash Flow $263 $395 (33.4)% $524 $491 6.7%2 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 Fiscal 2027 Guidance assumes an effective tax rate of 16-19% and average diluted shares outstanding of 118–120 million. 4 Fiscal 2027 Guidance assumes capital expenditures of approximately $200 million. OPERATING PERFORMANCE UPDATED FISCAL 2027 GUIDANCE PRIOR FISCAL 2027 GUIDANCE Revenue $11.3 - $11.6 billion $11.2 - $11.7 billion Revenue Growth 1.0 - 3.0% 0 - 4.0% Adjusted EBITDA $1,260 - $1,290 million $1,240 - $1,290 million Adjusted EBITDA Margin on Revenue ~11% ~11% Adjusted Diluted EPS3 $6.50 - $6.70 $6.00 - $6.35 Free Cash Flow4 $850 - $925 million $825 - $925 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EDT on Friday, October 23, 2026, to discuss the financial results for our second quarter of fiscal year 2027. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, October 23, 2026, and continuing for 12 months. ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] OUTLOOK2 The Company is updating its fiscal year 2027 guidance as noted in the table below:NON-GAAP FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including certain other corporate expenses. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before certain other corporate expenses and acquisition amortization, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2026. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 3FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 4EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations (UNAUDITED) 5 Three Months Ended September 30, Six Months Ended September 30, (Amounts in millions, except per share data) 2026 2025 2026 2025 Revenue $ 2,778 $ 2,890 $ 5,578 $ 5,814 Operating costs and expenses: Cost of revenue 1,333 1,340 2,669 2,763 Billable expenses 821 918 1,656 1,799 General and administrative expenses 328 308 633 631 Depreciation and amortization 51 41 96 81 Total operating costs and expenses 2,533 2,607 5,054 5,274 Operating income 245 283 524 540 Interest expense, net (52) (48) (100) (92) Other income (expense) 6 (2) 26 1 Income before income taxes 199 233 450 449 Income tax expense 18 58 71 3 Net income $ 181 $ 175 $ 379 $ 446 Earnings per common share: Basic $ 1.50 $ 1.42 $ 3.13 $ 3.59 Diluted $ 1.50 $ 1.42 $ 3.13 $ 3.58EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (UNAUDITED) (Amounts in millions, except share and per share data) September 30, 2026 March 31, 2026 Assets Current assets: Cash and cash equivalents $ 334 $ 728 Accounts receivable, net 2,348 2,063 Prepaid expenses and other current assets 202 170 Total current assets 2,884 2,961 Property and equipment, net of accumulated depreciation 167 171 Operating lease right-of-use assets 257 147 Intangible assets, net of accumulated amortization 855 509 Goodwill 3,028 2,399 Deferred tax assets 219 294 Other long-term assets 898 637 Total assets $ 8,308 $ 7,118 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 19 Accounts payable and other accrued expenses 1,239 909 Accrued compensation and benefits 654 641 Operating lease liabilities 46 43 Other current liabilities 52 51 Total current liabilities 2,010 1,663 Long-term debt, net of current portion 4,391 3,921 Operating lease liabilities, net of current portion 252 139 Postretirement and other long-term employee benefits 233 224 Other long-term liabilities 178 66 Total liabilities 7,064 6,013 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 170,671,224 shares at September 30, 2026 and 169,805,201 shares at March 31, 2026; outstanding, 119,096,968 shares at September 30, 2026 and 120,341,320 shares at March 31, 2026 2 2 Treasury stock, at cost — 51,574,256 shares at September 30, 2026 and 49,463,881 shares at March 31, 2026 (3,833) (3,673) Additional paid-in capital 1,217 1,155 Retained earnings 3,879 3,644 Accumulated other comprehensive loss (21) (23) Total stockholders’ equity 1,244 1,105 Total liabilities and stockholders’ equity $ 8,308 $ 7,118 6EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows (UNAUDITED) Six Months Ended September 30, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 379 $ 446 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 96 81 Noncash lease expense 22 25 Stock-based compensation expense 44 36 Net gains on investments, dispositions, and other (28) (4) Changes in operating assets and liabilities: Accounts receivable, net (46) 54 Deferred income taxes and income taxes receivable/payable 35 78 Prepaid expenses and other current and long-term assets (58) (77) Accrued compensation and benefits 14 (13) Accounts payable and other accrued expenses 111 23 Other current and long-term liabilities 6 (109) Net cash provided by operating activities 575 540 Cash flows from investing activities Purchases of property, equipment, and software (51) (49) Payments for business acquisitions and dispositions, net of cash acquired (934) — Payments for strategic investments (155) (12) Net cash used in investing activities (1,140) (61) Cash flows from financing activities Proceeds from issuance of common stock 20 27 Repurchases of common stock (170) (395) Cash dividends paid (145) (138) Repayments on term loan (724) (42) Net proceeds from debt issuance 1,190 — Net cash provided by (used in) financing activities 171 (548) Net decrease in cash and cash equivalents (394) (69) Cash and cash equivalents––beginning of period 728 885 Cash and cash equivalents––end of period $ 334 $ 816 Supplemental disclosures of cash flow information Net cash payments during the period for: Interest $ 94 $ 87 Income taxes $ 14 $ 41 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ 6 $ 3 Unpaid property, equipment, and software purchases $ 26 $ 8 7EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended September 30, Six Months Ended September 30, (In millions, except share and per share data) 2026 2025 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,778 $ 2,890 $ 5,578 $ 5,814 Less: Billable expenses 821 918 1,656 1,799 Revenue, Excluding Billable Expenses $ 1,957 $ 1,972 $ 3,922 $ 4,015 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 181 $ 175 $ 379 $ 446 Income tax expense 18 58 71 3 Interest expense, net and other income (expense) 46 50 74 91 Depreciation and amortization 51 41 96 81 EBITDA $ 296 $ 324 $ 620 $ 621 Other corporate expenses (a) 17 — 27 14 Adjusted EBITDA $ 313 $ 324 $ 647 $ 635 Net income margin 6.5 % 6.1 % 6.8 % 7.7 % Adjusted EBITDA Margin on Revenue 11.3 % 11.2 % 11.6 % 10.9 % Adjusted Net Income Net income $ 181 $ 175 $ 379 $ 446 Other corporate expenses (a) 17 — 27 14 Acquisition amortization (b) 22 12 37 24 Adjustments for tax effect (c) (9) (4) (15) (117) Adjusted Net Income $ 211 $ 183 $ 428 $ 367 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 119,591,637 122,881,563 119,886,979 123,677,992 Diluted earnings per share $ 1.50 $ 1.42 $ 3.13 $ 3.58 Adjusted Net Income Per Diluted Share $ 1.76 $ 1.49 $ 3.57 $ 2.97 Free Cash Flow Net cash provided by operating activities $ 294 $ 421 $ 575 $ 540 Less: Purchases of property, equipment and software (31) (26) (51) (49) Free Cash Flow $ 263 $ 395 $ 524 $ 491 8 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with Defy Security in the first quarter of fiscal 2027, and Ultra I&C Mission Solutions business in the second quarter of fiscal 2027. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. (b) Amortization expense associated with acquired intangibles from acquisitions. (c) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The fiscal 2026 tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended September 30, 2026 Three Months Ended June 30, 2026 Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 (In millions, except share and per share data) Net income $ 181 $ 198 $ 205 $ 200 Income tax expense (benefit) 18 53 21 (13) Interest expense, net and other income (expense) 46 28 37 43 Depreciation and amortization 51 45 42 40 EBITDA $ 296 $ 324 $ 305 $ 270 Other corporate expenses (a) 17 10 4 15 Adjusted EBITDA $ 313 $ 334 $ 309 $ 285 Last 12 months Adjusted EBITDA $ 1,241 Total Debt $ 4,410 Less: Cash 334 Net Debt $ 4,076 Net Leverage Ratio (b) 3.3 Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 (In millions, except share and per share data) Net income $ 175 $ 271 $ 193 $ 187 Income tax expense (benefit) 58 (55) 49 61 Interest expense, net and other income (expense) 50 41 32 43 Depreciation and amortization 41 40 42 40 EBITDA $ 324 $ 297 $ 316 $ 331 Other corporate expenses (a) — 14 — 1 Adjusted EBITDA $ 324 $ 311 $ 316 $ 332 Last 12 months Adjusted EBITDA $ 1,283 Total Debt $ 3,960 Less: Cash 816 Net Debt $ 3,144 Net Leverage Ratio (b) 2.5 9 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with Defy Security in the first quarter of fiscal 2027, and Ultra I&C Mission Solutions business in the second quarter of fiscal 2027. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of September 30, (Amounts in millions) 2026 2025 Funded $ 5,711 $ 5,440 Unfunded 10,409 10,668 Priced options 24,813 24,080 Total backlog $ 40,933 $ 40,188 Book-to-Bill (1): Three Months Ended September 30, Trailing Twelve Months Ended September 30, 2026 2025 2026 2025 1.5x 1.7x 1.1x 1.1x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of September 30, (Amounts are rounded) 2026 2025 Total Headcount 31,000 32,500 Customer Staff Headcount 28,200 29,600 Revenue by Customer Type Three Months Ended September 30, Six Months Ended September 30, 2026 2025 2026 2025 National Security(2) $ 2,076 $ 2,063 $4,104 $4,064 Civil and Commercial 702 827 1,474 1,750 Total Revenue $ 2,778 $ 2,890 $5,578 $5,814 (2) National Security includes revenues from Defense and Intelligence customers, which were previously separately reported. Prior period revenues have been presented to reflect this change. Percentage of Total Revenue by Contract Type Three Months Ended September 30, Six Months Ended September 30, 2026 2025 2026 2025 Cost-Reimbursable 59% 59% 58% 60% Time-and-Materials 21% 22% 22% 22% Fixed-Price 20% 19% 20% 18% 1023 Oct
8-KBooz Allen Completes Acquisition of Ultra I&C Mission Solutions Business McLean, VA—August 24, 2026—Booz Allen Hamilton (NYSE: BAH) has completed its previously announced $720 million acquisition of the Ultra I&C Mission Solutions business (Ultra Mission Solutions), further strengthening its technology solutions for national security missions. Combining Ultra Mission Solutions’ defense technology software, encryption, and edge- compute products with Booz Allen’s AI-driven battle management, resilient communications, and edge infrastructure solutions strengthens Booz Allen’s portfolio of capabilities for today’s contested and fast-moving operational environments. These offerings will help warfighters connect, secure, and deploy technology at the edge and across domains, bringing advanced commercial technology to national security missions at greater speed and scale. “Booz Allen builds technology to strengthen America’s national security and technological superiority,” said Horacio Rozanski, Chairman and CEO of Booz Allen. “This strategic acquisition accelerates our ability to expand and scale our defense tech products and help the United States and its allies maintain decisive advantage on the battlefield.” Ultra Mission Solutions will operate as the commercial product and solutions component of Booz Allen's defense technology business led by president Steve Escaravage. “Warfighters and policymakers are calling for increased industry investment in commercial products ready to fulfill mission requirements,” said Escaravage. “This acquisition strengthens our ability to scale product delivery, expand global reach, and increase impact for U.S. and allied customers.” About Booz Allen Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) Forward-Looking Statements Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include statements that do not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “ forecasts,” “expects,” “ intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2026, which can be found at the SEC’s website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake noobligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: Dustin Darensbourg, [email protected]24 Aug
8-KEntry into a Material Definitive Agreement4 Aug
8-KSubmission of Matters to a Vote of Security Holders24 Jul
8-KBooz Allen Hamilton Announces First Quarter Fiscal 2027 Results 1 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details. Three Months Ended June 30, 2026 2025 % Change (unaudited) Revenue $2,800 $2,924 (4.2)% Revenue Ex. Billable Expenses $1,965 $2,043 (3.8)% Net Income $198 $271 (26.9)% Adjusted Net Income $217 $184 17.9% Diluted EPS $1.63 $2.16 (24.5)% Adjusted Diluted EPS $1.81 $1.48 22.3% EBITDA $324 $297 9.1% Adjusted EBITDA $334 $311 7.4% Adjusted EBITDA Margin on Revenue 11.9% 10.6% +130 bps Net Cash Provided by Operating Activities $281 $119 136.1% Free Cash Flow $261 $96 171.9% FINANCIAL SUMMARY TABLE McLean, Virginia - July 24, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the first quarter of fiscal 2027. Strong profitability, disciplined execution, and strategic investments continue to strengthen the company's long-term positioning Demand accelerating across National Security portfolio while Civil remains challenged Q1 backlog of $39 billion and quarterly book-to-bill ratio of 1.5x Continued focus on advanced cyber and defense technologies, AI-native products, and outcomes- based delivery to drive critical mission impact "Booz Allen is on track with the expectations we set for the fiscal year amid challenging market dynamics," said Horacio Rozanski, Booz Allen Chairman and CEO. "We are executing the business well, investing in cyber and defense technologies to accelerate our growth, and transforming at speed." Q1 Summary • Revenue of $2.8 billion, a 4.2 percent year-over-year decrease ◦ Revenue ex-billables of $2.0 billion, a 3.8 percent decrease • Net Income of $198 million, a 26.9 percent decrease • Adjusted Net Income1 of $217 million, a 17.9 percent increase • Adjusted EBITDA1 of $334 million, a 7.4 percent increase • Adjusted EBITDA Margin on Revenue1 increased by 130 basis points to 11.9% • Adjusted Diluted EPS1 of $1.81, a 22.3 percent increase • Free cash flow1 of $261 million, compared to $96 million in the prior year • $447 million in total capital deployment • 1.5x quarterly book-to-bill ratio • Total backlog of $39 billion, a 3.2 percent increase A regular quarterly dividend of $0.59 per share will be payable on August 28, 2026, to stockholders of record on August 14, 2026.2 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 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. EDT on Friday, July 24, 2026, to discuss the financial results for our first quarter of fiscal year 2027. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, July 24, 2026, and continuing for 12 months. ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company. We build commercial-grade products and solutions for America’s most critical defense, civil, and national security priorities. For more information, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] OUTLOOK2 For fiscal year 2027, we expect:NON-GAAP FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before certain other corporate expenses and acquisition amortization, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2026. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 3FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 4EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations (UNAUDITED) 5 Three Months Ended June 30, (Amounts in millions, except per share data) 2026 2025 Revenue $ 2,800 $ 2,924 Operating costs and expenses: Cost of revenue 1,336 1,423 Billable expenses 835 881 General and administrative expenses 305 323 Depreciation and amortization 45 40 Total operating costs and expenses 2,521 2,667 Operating income 279 257 Interest expense, net (48) (44) Other income (expense) 20 3 Income before income taxes 251 216 Income tax expense (benefit) 53 (55) Net income $ 198 $ 271 Earnings per common share: Basic $ 1.63 $ 2.17 Diluted $ 1.63 $ 2.16EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (UNAUDITED) (Amounts in millions, except share and per share data) June 30, 2026 March 31, 2026 Assets Current assets: Cash and cash equivalents $ 540 $ 728 Accounts receivable, net 2,320 2,063 Prepaid expenses and other current assets 180 170 Total current assets 3,040 2,961 Property and equipment, net of accumulated depreciation 167 171 Operating lease right-of-use assets 186 147 Intangible assets, net of accumulated amortization 597 509 Goodwill 2,528 2,399 Deferred tax assets 253 294 Other long-term assets 839 637 Total assets $ 7,610 $ 7,118 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 19 Accounts payable and other accrued expenses 1,192 909 Accrued compensation and benefits 607 641 Operating lease liabilities 29 43 Other current liabilities 59 51 Total current liabilities 1,906 1,663 Long-term debt, net of current portion 3,917 3,921 Operating lease liabilities, net of current portion 195 139 Other long-term liabilities 390 290 Total liabilities 6,408 6,013 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 170,513,905 shares at June 30, 2026 and 169,805,201 shares at March 31, 2026; outstanding, 120,284,257 shares at June 30, 2026 and 120,341,320 shares at March 31, 2026 2 2 Treasury stock, at cost — 50,229,648 shares at June 30, 2026 and 49,463,881 shares at March 31, 2026 (3,733) (3,673) Additional paid-in capital 1,186 1,155 Retained earnings 3,769 3,644 Accumulated other comprehensive loss (22) (23) Total stockholders’ equity 1,202 1,105 Total liabilities and stockholders’ equity $ 7,610 $ 7,118 6EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows (UNAUDITED) Three Months Ended June 30, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 198 $ 271 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 45 40 Noncash lease expense 12 12 Stock-based compensation expense 21 19 Net gains on investments, dispositions, and other (18) (4) Changes in operating assets and liabilities: Accounts receivable, net (36) (15) Deferred income taxes and income taxes receivable/payable 78 34 Prepaid expenses and other current and long-term assets (48) (69) Accrued compensation and benefits (30) (32) Accounts payable and other accrued expenses 71 (35) Other current and long-term liabilities (12) (102) Net cash provided by operating activities 281 119 Cash flows from investing activities Purchases of property, equipment, and software (20) (23) Payments for business acquisitions, net of cash acquired (220) — Payments for strategic investments (88) (9) Net cash used in investing activities (328) (32) Cash flows from financing activities Proceeds from issuance of common stock 9 11 Repurchases of common stock (72) (181) Cash dividends paid (73) (70) Repayments on revolving credit facility, term loans, and Senior Notes (5) (21) Net cash used in financing activities (141) (261) Net decrease in cash and cash equivalents (188) (174) Cash and cash equivalents––beginning of period 728 885 Cash and cash equivalents––end of period $ 540 $ 711 Supplemental disclosures of cash flow information Net cash payments (receipts) during the period for: Interest $ 38 $ 22 Income taxes $ (16) $ 24 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ — $ 2 Unpaid property, equipment, and software purchases $ 31 $ 4 7EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended June 30, (In millions, except share and per share data) 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,800 $ 2,924 Less: Billable expenses 835 881 Revenue, Excluding Billable Expenses $ 1,965 $ 2,043 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 198 $ 271 Income tax expense (benefit) 53 (55) Interest expense, net and other income (expense) 28 41 Depreciation and amortization 45 40 EBITDA $ 324 $ 297 Other corporate expenses (a) 10 14 Adjusted EBITDA $ 334 $ 311 Net income margin 7.1 % 9.3 % Adjusted EBITDA Margin on Revenue 11.9 % 10.6 % Adjusted Net Income Net income $ 198 $ 271 Other corporate expenses (a) 10 14 Acquisition amortization (b) 15 12 Adjustments for tax effect (c) (6) (113) Adjusted Net Income $ 217 $ 184 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 120,185,147 124,475,670 Diluted earnings per share $ 1.63 $ 2.16 Adjusted Net Income Per Diluted Share $ 1.81 $ 1.48 Free Cash Flow Net cash provided by operating activities $ 281 $ 119 Less: Purchases of property, equipment and software (20) (23) Free Cash Flow $ 261 $ 96 8 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with the acquisition of Defy Security, and the agreement to acquire Ultra Mission Solutions. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. (b) Amortization expense associated with acquired intangibles from acquisitions. (c) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The fiscal 2026 tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended June 30, 2026 Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 (In millions, except share and per share data) Net income $ 198 $ 205 $ 200 $ 175 Income tax expense (benefit) 53 21 (13) 58 Interest expense, net and other income (expense) 28 37 43 50 Depreciation and amortization 45 42 40 41 EBITDA $ 324 $ 305 $ 270 $ 324 Other corporate expenses (a) 10 4 15 — Adjusted EBITDA $ 334 $ 309 $ 285 $ 324 Last 12 months Adjusted EBITDA $ 1,252 Total Debt $ 3,936 Less: Cash 540 Net Debt $ 3,396 Net Leverage Ratio (d) 2.7 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 Three Months Ended September 30, 2024 (In millions, except share and per share data) Net income $ 271 $ 193 $ 187 $ 390 Income tax expense (benefit) (55) 49 61 123 Interest expense, net and other income (expense) 41 32 43 36 Depreciation and amortization 40 42 40 42 EBITDA $ 297 $ 316 $ 331 $ 591 Other corporate expenses (a) 14 — 1 1 Change in provision for claimed costs (b) — — — (113) Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 311 $ 316 $ 332 $ 364 Last 12 months Adjusted EBITDA $ 1,323 Total Debt $ 3,979 Less: Cash 711 Net Debt $ 3,268 Net Leverage Ratio (d) 2.5 9 (a) In fiscal 2027, other corporate expenses consist primarily of acquisition related costs associated with the acquisition of Defy Security, and the agreement to acquire Ultra Mission Solutions. In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, “Subsequent Events,” to the consolidated financial statements within the Annual Report on Form 10-K for the fiscal year ended March 31, 2026 for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of June 30, (Amounts in millions) 2026 2025 Funded $ 4,664 $ 4,047 Unfunded 10,218 10,441 Priced options 24,601 23,777 Total backlog $ 39,483 $ 38,265 Book-to-Bill (1): Three Months Ended June 30, Trailing Twelve Months Ended June 30, 2026 2025 2026 2025 1.5x 1.4x 1.1x 1.3x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of June 30, (Amounts are rounded) 2026 2025 Total Headcount 30,900 33,400 Customer Staff Headcount 28,200 30,400 Revenue by Customer Type Three Months Ended June 30, 2026 2025 National Security(2) $2,028 $2,001 Civil and Commercial 772 923 Total Revenue $2,800 $2,924 (2) National Security includes revenues from Defense and Intelligence customers, which were previously separately reported. Prior period revenues have been presented to reflect this change. Percentage of Total Revenue by Contract Type Three Months Ended June 30, 2026 2025 Cost-Reimbursable 57% 60% Time-and-Materials 22% 22% Fixed-Price 21% 18% 1024 Jul
8-KEntry into a Material Definitive Agreement22 Jun
8-KMcLean, Virginia - May 22, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the fourth quarter and full year of fiscal 2026. Strong profitability, disciplined execution, and strategic investments position the company for improved performance in FY27 Demand accelerating across portfolios; expect continued growth in National Security portfolio while external factors drive anticipated Civil business declines Record Q4 backlog of $38 billion and trailing twelve-month book-to-bill ratio of 1.1x Continued focus on driving critical mission impact with advanced cyber and defense technologies, AI-native products, and outcomes-based delivery "In a challenging year, Booz Allen delivered strong profitability while continuing to accelerate our transformation," said Horacio Rozanski, Booz Allen Chairman and CEO. "We enter FY27 with momentum and are well-positioned for the year ahead. We’re investing in proven growth areas and building tech to create long-term value for our shareholders and our nation.” Q4 Summary • Revenue of $2.8 billion, a 6.4 percent year-over-year decrease ◦ Revenue ex-billables of $1.9 billion, a 6.8 percent decrease • Net Income of $205 million, a 6.2 percent increase • Adjusted Net Income1 of $215 million, a 5.9 percent increase • Adjusted EBITDA1 of $309 million, a 2.2 percent decrease • Adjusted EBITDA Margin on Revenue1 increased by 50 basis points to 11.1% • Adjusted Diluted EPS1 of $1.78, a 10.6 percent increase • Free cash flow1 of $212 million, compared to $194 million in the prior year • 0.9x quarterly book-to-bill ratio • Total backlog of $38 billion, a 3.1 percent increase FY26 Summary • Revenue of $11.2 billion, a 6.4 percent year-over-year decrease ◦ Revenue ex-billables of $7.8 billion, a 5.3 percent decrease • Net Income of $851 million, a 9.0 percent decrease • Adjusted Net Income1 of $797 million, a 2.2 percent decrease • Adjusted EBITDA1 of $1.23 billion, a 6.5 percent decrease • Adjusted EBITDA Margin on Revenue1 remained flat at 11.0% • Adjusted Diluted EPS1 of $6.51, a 2.5 percent increase • Free cash flow1 of $951 million, compared to $911 million in the prior year • 1.1x trailing twelve month book-to-bill ratio • $1.1 billion in total capital deployment A regular quarterly dividend of $0.59 per share will be payable on June 26, 2026, to stockholders of record on June 10, 2026. Booz Allen Hamilton Announces Fourth Quarter and Full Year Fiscal 2026 Results 1 Due to the fiscal 2025 change in rounding presentation to millions, individual quarters may not sum due to rounding. 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 % Change 2026 2025 % Change (unaudited) (unaudited) Revenue $2,783 $2,974 (6.4)% $11,217 $11,980 (6.4)% Revenue Ex. Billable Expenses $1,906 $2,046 (6.8)% $7,767 $8,200 (5.3)% Net Income $205 $193 6.2% $851 $935 (9.0)% Adjusted Net Income $215 $203 5.9% $797 $815 (2.2)% Diluted EPS $1.68 $1.52 10.5% $6.90 $7.25 (4.8)% Adjusted Diluted EPS $1.78 $1.61 10.6% $6.51 $6.35 2.5% EBITDA $305 $316 (3.5)% $1,196 $1,535 (22.1)% Adjusted EBITDA $309 $316 (2.2)% $1,229 $1,315 (6.5)% Adjusted EBITDA Margin on Revenue 11.1% 10.6% +50 bps 11.0% 11.0% — Net Cash Provided by Operating Activities $240 $218 10.1% $1,041 $1,009 3.2% Free Cash Flow $212 $194 9.3% $951 $911 4.4% FINANCIAL SUMMARY 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 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. EDT on Friday, May 22, 2026, to discuss the financial results for our fourth quarter and full fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, May 22, 2026, and continuing for 12 months. OUTLOOK2 For fiscal year 2027, we expect:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,500 people globally as of March 31, 2026, and had revenue of $11.2 billion for the 12 months ended March 31, 2026. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense, interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non- recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, (v) gain associated with divestitures, and (vi) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including the risks and factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2026 and in our other filings with the SEC. In light of these risks, uncertainties, and other factors, the forward-looking statements might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Consolidated Statements of Operations 6 Three Months Ended March 31, Fiscal Year Ended March 31, (unaudited) (Amounts in millions, except per share data) 2026 2025 2026 2025 Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Operating costs and expenses: Cost of revenue 1,283 1,378 5,305 5,419 Billable expenses 877 928 3,450 3,780 General and administrative expenses 318 352 1,266 1,246 Depreciation and amortization 42 42 163 165 Total operating costs and expenses 2,520 2,700 10,184 10,610 Operating income 263 274 1,033 1,370 Interest expense, net (45) (43) (184) (168) Other income (expense) 8 11 13 17 Income before income taxes 226 242 862 1,219 Income tax expense 21 49 11 284 Net income $ 205 $ 193 $ 851 $ 935 Earnings per common share: Basic $ 1.69 $ 1.53 $ 6.92 $ 7.28 Diluted $ 1.68 $ 1.52 $ 6.90 $ 7.25EXHIBIT 2 Booz Allen Hamilton Holding Corporation Consolidated Balance Sheets (Amounts in millions, except share and per share data) March 31, 2026 March 31, 2025 Assets Current assets: Cash and cash equivalents $ 728 $ 885 Accounts receivable, net 2,063 2,271 Prepaid expenses and other current assets 170 157 Total current assets 2,961 3,313 Property and equipment, net of accumulated depreciation 171 177 Operating lease right-of-use assets 147 178 Intangible assets, net of accumulated amortization 509 563 Goodwill 2,399 2,405 Deferred tax assets 294 332 Other long-term assets 637 344 Total assets $ 7,118 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 19 $ 83 Accounts payable and other accrued expenses 909 987 Accrued compensation and benefits 641 702 Operating lease liabilities 43 41 Other current liabilities 51 33 Total current liabilities 1,663 1,846 Long-term debt, net of current portion 3,921 3,915 Operating lease liabilities, net of current portion 139 180 Other long-term liabilities 290 368 Total liabilities 6,013 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,805,201 shares at March 31, 2026 and 168,522,544 shares at March 31, 2025; outstanding, 120,341,320 shares at March 31, 2026 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 49,463,881 shares at March 31, 2026 and 43,643,540 shares at March 31, 2025 (3,673) (3,082) Additional paid-in capital 1,155 1,042 Retained earnings 3,644 3,070 Accumulated other comprehensive loss (23) (29) Total stockholders’ equity 1,105 1,003 Total liabilities and stockholders’ equity $ 7,118 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Consolidated Statements of Cash Flows Fiscal Year Ended March 31, (Amounts in millions) 2026 2025 Cash flows from operating activities Net income $ 851 $ 935 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 163 165 Noncash lease expense 51 50 Stock-based compensation expense 69 94 Deferred income taxes 35 (91) Net gains on investments, dispositions, and other (16) (16) Changes in assets and liabilities: Accounts receivable, net 207 (206) Income taxes receivable / payable (11) (31) Prepaid expenses and other current and long-term assets (43) 1 Accrued compensation and benefits (60) 207 Accounts payable and other accrued expenses (86) (66) Other current and long-term liabilities (119) (33) Net cash provided by operating activities 1,041 1,009 Cash flows from investing activities Purchases of property, equipment, and software (90) (98) Proceeds from (payments for) business dispositions and acquisitions, net of cash acquired 22 (97) Net payments for investments (232) (23) Net cash used in investing activities (300) (218) Cash flows from financing activities Proceeds from issuance of common stock 45 38 Repurchases of common stock (598) (812) Cash dividends paid (276) (268) Proceeds from revolving credit facility — 200 Repayments on revolving credit facility, term loans, and Senior Notes (62) (262) (Payments for)/net proceeds from debt refinancing and issuance (7) 644 Net cash used in financing activities (898) (460) Net (decrease) increase in cash and cash equivalents (157) 331 Cash and cash equivalents––beginning of year 885 554 Cash and cash equivalents––end of year $ 728 $ 885 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 191 $ 186 Supplemental disclosures of non-cash investing and financing activities Share repurchases transacted but not settled and paid $ 16 $ 22 Unpaid property, equipment and software purchases $ 8 $ 9 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended March 31, Fiscal Year Ended March 31, (In millions, except share and per share data) 2026 2025 2026 2025 Revenue, Excluding Billable Expenses Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Less: Billable expenses 877 928 3,450 3,780 Revenue, Excluding Billable Expenses* $ 1,906 $ 2,046 $ 7,767 $ 8,200 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 205 $ 193 $ 851 $ 935 Income tax expense 21 49 11 284 Interest expense, net and other income (expense) 37 32 171 151 Depreciation and amortization 42 42 163 165 EBITDA $ 305 $ 316 $ 1,196 $ 1,535 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 4 — 33 8 Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 309 $ 316 $ 1,229 $ 1,315 Net income margin 7.4 % 6.5 % 7.6 % 7.8 % Adjusted EBITDA Margin on Revenue 11.1 % 10.6 % 11.0 % 11.0 % Adjusted Net Income Net income $ 205 $ 193 $ 851 $ 935 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 4 — 33 8 Insurance recoveries (c) — — — (115) Acquisition amortization (d) 12 13 48 54 Amortization or write-off of debt issuance costs and debt discount — 1 — 4 Gain associated with divestitures (e) — — (7) — Adjustments for tax effect (f) (6) (4) (128) 42 Adjusted Net Income $ 215 $ 203 $ 797 $ 815 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 120,738,749 126,255,581 122,375,151 128,290,417 Diluted earnings per share $ 1.68 $ 1.52 $ 6.90 $ 7.25 Adjusted Net Income Per Diluted Share $ 1.78 $ 1.61 $ 6.51 $ 6.35 Free Cash Flow Net cash provided by operating activities $ 240 $ 218 $ 1,041 $ 1,009 Less: Purchases of property, equipment and software (28) (24) (90) (98) Free Cash Flow $ 212 $ 194 $ 951 $ 911 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the fiscal year ended March 31, 2025 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, "Subsequent Events," to the consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Represents the gain recognized on the divestiture of a group of contracts in the third quarter of fiscal 2026. (f) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $24 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 13, "Income Taxes," to the consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Fiscal Year Ended March 31, 2026 Fiscal Year Ended March 31, 2025 (In millions, except share and per share data) Net income $ 851 $ 935 Income tax expense 11 284 Interest expense, net and other income (expense) 171 151 Depreciation and amortization 163 165 EBITDA $ 1,196 $ 1,535 Change in provision for claimed costs (a) — (113) Other corporate expenses (b) 33 8 Insurance recoveries (c) — (115) Last 12 months Adjusted EBITDA $ 1,229 $ 1,315 Total Debt $ 3,940 $ 3,998 Less: Cash 728 885 Net Debt $ 3,212 $ 3,113 Net Leverage Ratio (d) 2.6 2.4 10 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, transaction costs associated with a divestiture, and acquisition related costs associated with the acquisition of Defy Security, which closed in the first quarter of fiscal 2027. See Note 20, “Supplemental Consolidated Financial Information,” and Note 21, "Subsequent Events," to the consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog: As of March 31, (Amounts in millions) 2026 2025 Funded $ 4,319 $ 4,421 Unfunded 10,183 8,804 Priced options 23,685 23,802 Total backlog $ 38,187 $ 37,027 Book-to-Bill (1): Three Months Ended March 31, Trailing Twelve Months Ended December 31, 2026 2025 2026 2025 0.9x 0.7x 1.1x 1.4x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Headcount As of March 31, (Amounts are rounded) 2026 2025 Total Headcount 31,500 35,800 Customer Staff Headcount 28,800 32,700 Revenue by Customer Type Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 2026 2025 Defense $ 1,518 $ 1,527 $ 6,069 $ 5,943 Intelligence 499 458 1,900 1,867 Civil 766 989 3,248 4,170 Total Revenue $ 2,783 $ 2,974 $ 11,217 $ 11,980 Percentage of Total Revenue by Contract Type Three Months Ended March 31, Fiscal Year Ended March 31, 2026 2025 2026 2025 Cost-Reimbursable 58% 59% 59% 57% Time-and-Materials 23% 22% 22% 23% Fixed-Price 19% 19% 19% 20% 1122 May
8-KBooz Allen Appoints Ryan P. Nolan to Board of Directors McLean, VA. – May 12, 2026 – Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., announced today that it has appointed Ryan P. Nolan to the Board of Directors, eHective June 1, 2026. He will serve on the board’s audit committee. Nolan is a seasoned technology advisor and investor with extensive experience advising technology companies, founders, and long-term investors. He is a partner and co-head of global technology at BDT & MSD Partners where he also serves on the firm's Technology Investment Committee. Nolan brings deep strategic, financial, and technology expertise to Booz Allen. He was previously a partner in Goldman Sachs’ Technology, Media and Telecommunications Group and global co-head of software investment banking. During his 13-year tenure at Goldman Sachs, Nolan advised on capital market transactions that raised more than $50 billion, and on more than $100 billion in merger and acquisition transactions. “Ryan’s success advising and investing in leading technology companies will be an exceptional asset as we focus on delivering advanced, mission-driven innovation to Booz Allen’s global customers,” said Horacio Rozanski, Booz Allen’s Chairman and CEO. “I look forward to our collaboration on the board and the meaningful contributions his experience will bring to the company’s transformation and growth.” Nolan earned a B.B.A. in finance from the University of Notre Dame and a J.D. and M.B.A. from Duke University. He is a Senior Research Fellow at Harvard Kennedy School and a member of the Council on Foreign Relations. He serves on the boards of PBS Foundation, America's Frontier Fund, and Redefine Alliance. About Booz Allen Hamilton Booz Allen is the advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, customers, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: Dustin Darensbourg, [email protected]12 May
8-KBooz Allen Hamilton Appoints Troy Lahr Chief Financial Officer; Names Kristine Martin Anderson President MCLEAN, Virginia – April 27, 2026 – Booz Allen Hamilton (NYSE: BAH) today announced senior leadership appointments that strengthen the company’s position as an advanced technology provider for U.S. federal and global commercial markets. Effective May 4, 2026, Troy Lahr  has been appointed Executive Vice President and Chief Financial Officer. Lahr brings more than 25 years of financial and business leadership experience for both commercial tech and defense companies. As CFO he will oversee the company’s fiscal performance, capital structure, M&A, and related financial operations, reporting directly to Chairman of the Board and Chief Executive Officer Horacio Rozanski. Lahr was most recently CFO at Sierra Space, where he led the company’s financial strategy and performance including accounting and reporting, controllership, financial planning and analysis, tax, and treasury. Prior to that, he was CFO of Boeing’s $27 billion Defense, Space & Security business, following roles of increasing responsibility across the company including head of corporate investor relations, controller, and senior manager of mergers and acquisitions. Lahr began his career with more than a decade in investment banking as an aerospace and defense equity analyst for Stifel. “Troy’s deep and differentiated experience helps position Booz Allen for accelerated growth and bold transformation,” said Rozanski. “His success driving performance across large portfolios and leading through change will be a powerful asset as we work together to advance our next chapter.” Effective May 1, 2026, Chief Operating Officer Kristine Martin Anderson will assume the additional position of President.  Anderson, who has also been acting CFO since February 2026, will continue to report to Rozanski. “Kristine is the driving force in executing Booz Allen’s growth strategy and leading operations as we accelerate our technology transformation,” said Rozanski. “This position reflects her success as COO and her leadership across our entire business. I look forward to continuing to partner with her as we advance our strategic priorities and build the future of Booz Allen.” Anderson has been a leader at Booz Allen for 20 years and became COO in 2022. She previously led the company’s Civil Sector business with a focus on modernizing and transforming missions across U.S. federal civilian departments and agencies, following other senior positions driving growth and innovation.Also effective May 1, 2026, Executive Vice President and Chief Strategy Officer Shannon Fitzgerald will be promoted to President of the Civil Sector. Richard Crowe, Executive Vice President and President of the Civil Sector, has been appointed Chief Growth Officer.   About Booz Allen Hamilton Booz Allen is the advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, customers, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our company employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com BAHPR-CO Contacts Media Relations: Jessica Klenk, [email protected] Investor Relations: [email protected]27 Apr
8-KEntry into a Material Definitive Agreement2 Mar
8-KRegulation FD Disclosure6 Feb
8-KBooz Allen Hamilton Announces Third Quarter Fiscal 2026 Results McLean, Virginia - January 23, 2026 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the third quarter of fiscal 2026. Company reports $2.6 billion in revenue, a 10.2 percent decrease year-over-year, which adjusts to an approximately 6 percent decrease excluding impact of government shutdown1 Record Q3 backlog of $38 billion and quarterly book-to-bill ratio of 0.3x; demand strengthening across Civil and National Security portfolios Strong profitability with Adjusted EBITDA2 of $285 million, a 10.9% margin, and Adjusted Diluted Earnings Per Share2 rising 14.2 percent to $1.77 1.1 percent of outstanding shares repurchased in the third quarter “Booz Allen’s third quarter results are on track and reflect disciplined execution in a dynamic environment. We remain focused on building and delivering tech that works for the most important U.S. missions,” said Horacio Rozanski, Booz Allen Chairman, CEO and President. "We continue to invest and accelerate our growth strategy as we position for the future.” Q3 Summary • Revenue declined 10.2 percent year-over-year to $2.6 billion ◦ Revenue ex-billables declined 6.7 percent to $1.8 billion • Net Income of $200 million, a 7.0 percent increase • Adjusted Net Income2 of $215 million, an 8.6 percent increase • Adjusted EBITDA2 of $285 million, a 14.2 percent decrease • Adjusted EBITDA Margin on Revenue2 decreased by 50 basis points to 10.9% • Adjusted Diluted EPS2 of $1.77, a 14.2 percent increase • Free cash flow2 of $248 million compared to $134 million in the prior year • $195 million in capital deployment • 0.3x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $38 billion, a 1.5 percent increase Fiscal Year to Date Summary • Revenue declined 6.3 percent year-over-year to $8.4 billion ◦ Revenue ex-billables declined 4.7 percent to $5.9 billion • Net Income of $646 million, a 12.9 percent decrease • Adjusted Net Income2 of $582 million, a 4.6 percent decrease • Adjusted EBITDA2of $920 million, a 7.8 percent decrease • Adjusted EBITDA Margin on Revenue2 decreased by 20 basis points to 10.9% • Adjusted Diluted EPS2 of $4.74, flat compared to the prior year • Free cash flow2 of $739 million, compared to $717 million in the prior year A regular quarterly dividend of $0.59 per share will be payable on March 2, 2026, to stockholders of record on February 13, 2026. 1 Due to the fiscal 2025 change in rounding presentation to millions, comparative period presentation within this release has been adjusted accordingly. 1 Revenue, as adjusted for the government shutdown, reflects an estimation of $50 million of revenue lost due to work not performed and an estimation of $60 million of revenue shifted from Q3 FY26 to Q4 FY26 given timing delays in Billable Expenses. 2 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 % Change 2025 2024 % Change (unaudited) (unaudited) Revenue $2,620 $2,917 (10.2)% $8,434 $9,005 (6.3)% Revenue Ex. Billable Expenses $1,846 $1,978 (6.7)% $5,861 $6,153 (4.7)% Net Income $200 $187 7.0% $646 $742 (12.9)% Adjusted Net Income $215 $198 8.6% $582 $610 (4.6)% Diluted EPS $1.63 $1.45 12.4% $5.22 $5.73 (8.9)% Adjusted Diluted EPS $1.77 $1.55 14.2% $4.74 $4.74 —% EBITDA $270 $331 (18.4)% $891 $1,218 (26.8)% Adjusted EBITDA $285 $332 (14.2)% $920 $998 (7.8)% Adjusted EBITDA Margin on Revenue 10.9% 11.4% -50 bps 10.9% 11.1% -20 bps Net Cash Provided by Operating Activities $261 $151 72.8% $801 $790 1.4% Free Cash Flow $248 $134 85.1% $739 $717 3.1% FINANCIAL SUMMARY 3 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 4 Fiscal 2026 Guidance assumes an adjusted effective tax rate of 16–19% and average diluted shares outstanding of 122–123 million. 5 Fiscal 2026 Guidance assumes capital expenditures of approximately $100 million and $235 million cash tax benefit relative to initial guidance, due to new S174 rules under the One Big Beautiful Bill. OPERATING PERFORMANCE UPDATED FISCAL 2026 GUIDANCE PRIOR FISCAL 2026 GUIDANCE Revenue $11.3 - $11.4 billion $11.3 - $11.5 billion Revenue Growth (5.0 - 6.0)% (4.0 - 6.0)% Adjusted EBITDA $1,195 - $1,215 million $1,190 - $1,220 million Adjusted EBITDA Margin on Revenue Mid 10% Mid 10% Adjusted Diluted EPS4 $5.95 - $6.15 $5.45 - $5.65 Free Cash Flow5 $825 - $900 million $850 - $950 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EST on Friday, January 23, 2026, to discuss the financial results for our third quarter of fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EST on Friday, January 23, 2026, and continuing for 12 months. OUTLOOK3 The Company is updating its fiscal year 2026 guidance as noted in the table below:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our firm employs approximately 31,600 people globally as of December 31, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income taxes, interest expense, net and other income (expense), and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, DC tax assessment adjustment, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, (v) gain associated with divestitures, and (vi) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include: • any issue that compromises our relationships with the U.S. government or damages our professional reputation, including negative publicity concerning government contractors in general or us in particular; • changes in U.S. government spending, including a continuation of efforts by the U.S. government to reduce U.S. government spending, increased insourcing by certain U.S. government agencies, and shifts in expenditures away from agencies or programs that we support, as well as associated uncertainty around the timing, extent, nature and effect of such efforts; • U.S. government shutdowns as well as delayed long-term funding of our contracts; • failure to comply with new and existing U.S. and international laws and regulations; • our ability to compete effectively in the competitive bidding process and delays or losses of contract awards caused by competitors’ protests of major contract awards received by us; • the loss of U.S. government GSA Schedules or our position as prime contractor on government-wide acquisition contract vehicles (“GWACs”); • variable purchasing patterns under certain of our U.S. government contracts and changes in the mix of our contracts including our ability to accurately estimate or otherwise recover expenses, time, and resources for our contracts; • our ability to realize the full value of and replenish our backlog, generate revenue under certain of our contracts, and the timing of our receipt of revenue under contracts included in backlog; • internal system or service failures and security breaches, including, but not limited to, those resulting from external or internal threats, including cyber attacks on our network and internal systems or on our customers’ network or internal systems; • misconduct or other improper activities from our employees, subcontractors or suppliers, including the improper access, use or release of our or our customers’ sensitive or classified information; • failure to maintain strong relationships with other contractors, or the failure of contractors with which we have entered into a sub or prime-contractor relationship to meet their obligations to us or our customers; • inherent uncertainties and potential adverse developments in legal or regulatory proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, withheld payments, penalties, or other unfavorable outcomes including debarment, as well as disputes over the availability of insurance or indemnification; • risks related to a possible recession and volatility or instability of the global financial system, including the failures of financial institutions and the resulting impact on counterparties and business conditions generally; • risks related to a deterioration of economic conditions or weakening in credit or capital markets; • risks related to pending, completed, and future acquisitions and dispositions, including the ability to satisfy specified closing conditions for pending transactions, such as those related to receipt of regulatory approval or lack of regulatory intervention, and to realize the expected benefits from completed acquisitions and dispositions; • risks inherent in the government contracting environment; and • risks related to our indebtedness and credit facilities which contain financial and operating covenants. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K filed with the SEC on May 23, 2025. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations 6 Three Months Ended December 31, Nine Months Ended December 31, (unaudited) (unaudited) (Amounts in millions, except per share data) 2025 2024 2025 2024 Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Operating costs and expenses: Cost of revenue 1,259 1,305 4,022 4,039 Billable expenses 774 939 2,573 2,852 General and administrative expenses 317 342 948 896 Depreciation and amortization 40 40 121 123 Total operating costs and expenses 2,390 2,626 7,664 7,910 Operating income 230 291 770 1,095 Interest expense, net (47) (42) (139) (126) Other income (expense) 4 (1) 5 6 Income before income taxes 187 248 636 975 Income tax (benefit) expense (13) 61 (10) 233 Net income $ 200 $ 187 $ 646 $ 742 Earnings per common share: Basic $ 1.64 $ 1.46 $ 5.23 $ 5.75 Diluted $ 1.63 $ 1.45 $ 5.22 $ 5.73EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (Amounts in millions, except share and per share data) December 31, 2025 March 31, 2025 Assets (unaudited) Current assets: Cash and cash equivalents $ 882 $ 885 Accounts receivable, net 2,048 2,271 Prepaid expenses and other current assets 147 157 Total current assets 3,077 3,313 Property and equipment, net of accumulated depreciation 163 177 Operating lease right-of-use assets 159 178 Intangible assets, net of accumulated amortization 517 563 Goodwill 2,399 2,405 Deferred tax assets 315 332 Other long-term assets 421 344 Total assets $ 7,051 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 83 $ 83 Accounts payable and other accrued expenses 866 987 Accrued compensation and benefits 670 702 Operating lease liabilities 41 41 Other current liabilities 43 33 Total current liabilities 1,703 1,846 Long-term debt, net of current portion 3,857 3,915 Operating lease liabilities, net of current portion 156 180 Other long-term liabilities 310 368 Total liabilities 6,026 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,274,466 shares at December 31, 2025 and 168,522,544 shares at March 31, 2025; outstanding, 120,863,944 shares at December 31, 2025 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 48,410,522 shares at December 31, 2025 and 43,643,540 shares at March 31, 2025 (3,586) (3,082) Additional paid-in capital 1,129 1,042 Retained earnings 3,511 3,070 Accumulated other comprehensive (loss) income (31) (29) Total stockholders’ equity 1,025 1,003 Total liabilities and stockholders’ equity $ 7,051 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows UNAUDITED Nine Months Ended December 31, (Amounts in millions) 2025 2024 Cash flows from operating activities Net income $ 646 $ 742 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 121 123 Noncash lease expense 37 39 Stock-based compensation expense 52 71 Net gains on investments, dispositions, and other (11) (7) Changes in operating assets and liabilities: Accounts receivable, net 214 (159) Deferred income taxes and income taxes receivable/payable 35 (105) Prepaid expenses and other current and long-term assets (62) (16) Accrued compensation and benefits (19) 224 Accounts payable and other accrued expenses (113) (103) Other current and long-term liabilities (99) (19) Net cash provided by operating activities 801 790 Cash flows from investing activities Purchases of property, equipment, and software (62) (73) Proceeds from (payments for) business dispositions and acquisitions, net of cash acquired 24 (97) Net payments for investments (14) (14) Net cash used in investing activities (52) (184) Cash flows from financing activities Proceeds from issuance of common stock 37 30 Repurchases of common stock (521) (497) Cash dividends paid (205) (198) Repayments on revolving credit facility, term loans, and Senior Notes (63) (41) Net cash used in financing activities (752) (706) Net decrease in cash and cash equivalents (3) (100) Cash and cash equivalents––beginning of period 885 554 Cash and cash equivalents––end of period $ 882 $ 454 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 130 $ 121 Income taxes $ 54 $ 322 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended December 31, Nine Months Ended December 31, (In millions, except share and per share data) 2025 2024 2025 2024 Revenue, Excluding Billable Expenses Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Less: Billable expenses 774 939 2,573 2,852 Revenue, Excluding Billable Expenses* $ 1,846 $ 1,978 $ 5,861 $ 6,153 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 200 $ 187 $ 646 $ 742 Income tax (benefit) expense (13) 61 (10) 233 Interest expense, net and other income (expense) 43 43 134 120 Depreciation and amortization 40 40 121 123 EBITDA $ 270 $ 331 $ 891 $ 1,218 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 15 1 29 8 Insurance recoveries (c) — — — (115) Adjusted EBITDA $ 285 $ 332 $ 920 $ 998 Net income margin 7.6 % 6.4 % 7.7 % 8.2 % Adjusted EBITDA Margin on Revenue 10.9 % 11.4 % 10.9 % 11.1 % Adjusted Net Income Net income $ 200 $ 187 $ 646 $ 742 Change in provision for claimed costs (a) — — — (113) Other corporate expenses (b) 15 1 29 8 Insurance recoveries (c) — — — (115) Acquisition amortization (d) 12 13 36 39 Amortization or write-off of debt issuance costs and debt discount — 1 — 3 Gain associated with divestitures (e) (7) — (7) — Adjustments for tax effect (f) (5) (4) (122) 46 Adjusted Net Income $ 215 $ 198 $ 582 $ 610 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 121,347,528 127,940,137 122,907,942 128,909,493 Diluted earnings per share $ 1.63 $ 1.45 $ 5.22 $ 5.73 Adjusted Net Income Per Diluted Share $ 1.77 $ 1.55 $ 4.74 $ 4.74 Free Cash Flow Net cash provided by operating activities $ 261 $ 151 $ 801 $ 790 Less: Purchases of property, equipment and software (13) (17) (62) (73) Free Cash Flow $ 248 $ 134 $ 739 $ 717 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the nine months ending December 31, 2024 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, as well as transaction costs associated with a divestiture. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Represents the gain recognized on the divestiture of a group of contracts the third quarter of fiscal 2026. (f) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $23 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 9, "Income Taxes," to the condensed consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 (In millions, except share and per share data) Net income $ 200 $ 175 $ 271 $ 193 Income tax expense (benefit) (13) 58 (55) 49 Interest expense, net and other income (expense) 43 50 41 32 Depreciation and amortization 40 41 40 42 EBITDA $ 270 $ 324 $ 297 $ 316 Other corporate expenses (a) 15 — 14 — Adjusted EBITDA $ 285 $ 324 $ 311 $ 316 Last 12 months Adjusted EBITDA $ 1,236 Total Debt $ 3,940 Less: Cash 882 Net Debt $ 3,058 Net Leverage Ratio (e) 2.5 Three Months Ended December 31, 2024 Three Months Ended September 30, 2024 Three Months Ended June 30, 2024 Three Months Ended March 31, 2024 (In millions, except share and per share data) Net income $ 187 $ 390 $ 165 $ 128 Income tax expense 61 123 49 91 Interest expense, net and other income (expense) 43 36 41 45 Depreciation and amortization 40 42 41 40 EBITDA $ 331 $ 591 $ 296 $ 304 Other corporate expenses (a) 1 1 6 2 Change in provision for claimed costs (b) — (113) — — Insurance recoveries (c) — (115) — — DC tax assessment adjustment (d) — — — (20) Adjusted EBITDA $ 332 $ 364 $ 302 $ 286 Last 12 months Adjusted EBITDA $ 1,284 Total Debt $ 3,374 Less: Cash 454 Net Debt $ 2,920 Net Leverage Ratio (e) 2.3 10 (a) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from cost management and restructuring initiatives, as well as transaction costs associated with a divestiture. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Reflects the impact (specifically the revenue from recoverable expenses) of the Company's unfavorable ruling from the District of Columbia Court of Appeals related to contested tax assessments from the District of Columbia Office of Tax and Revenue (“DC OTR”). See Note 13, “Income Taxes,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024 for further information. (e) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog (1): As of December 31, (Amounts in millions) 2025 2024 Funded $ 4,206 $ 4,658 Unfunded 10,059 8,478 Priced options 24,191 24,743 Total backlog $ 38,456 $ 37,879 (1) Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Book-to-Bill (1): Three Months Ended December 31, Trailing Twelve Months Ended December 31, 2025 2024 2025 2024 0.3x 0.6x 1.1x 1.4x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Headcount As of December 31, (Amounts are rounded) 2025 2024 Total Headcount 31,600 35,900 Customer Staff Headcount 29,000 32,700 Revenue by Customer Type Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Defense $ 1,454 $ 1,453 $ 4,551 $ 4,421 Intelligence 434 452 1,401 1,403 Civil 732 1,012 2,482 3,181 Total Revenue $ 2,620 $ 2,917 $ 8,434 $ 9,005 Percentage of Total Revenue by Contract Type Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Cost-Reimbursable 58% 57% 59% 57% Time-and-Materials 22% 23% 22% 23% Fixed-Price 20% 20% 19% 20% 1123 Jan
8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers15 Dec 2025
8-KBooz Allen Hamilton Announces Second Quarter Fiscal 2026 Results McLean, Virginia - October 24, 2025 - Booz Allen Hamilton Holding Corporation (NYSE: BAH), the parent company of advanced technology company Booz Allen Hamilton Inc., today announced results for the second quarter of fiscal 2026. Top and bottom-line performance below forecast driven by continued funding slowdown Solid growth across national security portfolio; civil business experiencing delayed recovery Record Q2 backlog of $40 billion and quarterly book-to-bill ratio of 1.7x 2.7 percent of outstanding shares repurchased in first half of fiscal year Full year outlook adjusted to reflect current environment "Our second quarter results reflect a bifurcated market. We are winning work and demand is strong for our leading cyber, AI, and warfighting technologies," said Horacio Rozanski, Booz Allen Chairman, CEO and President. "We remain focused on accelerating future growth while building advanced tech that keeps America safe and strong." Q2 Summary • Revenue declined 8.1 percent year-over-year to $2.9 billion ◦ Excluding prior year change to the provision for claimed costs, revenue declined 4.7 percent • Net Income of $175 million, a 55.1 percent decrease • Adjusted Net Income1 of $183 million, a 21.5 percent decrease • Adjusted EBITDA1 of $324 million, an 11.0 percent decrease • Adjusted EBITDA Margin on Revenue1 decreased by 40 basis points to 11.2% • Adjusted Diluted EPS1 of $1.49, a 17.7 percent decrease • Free cash flow1 of $395 million compared to $563 million in the prior year • $279 million in capital deployment • 1.7x quarterly book-to-bill ratio and 1.1x trailing twelve month book-to-bill ratio • Total backlog of $40 billion, a 2.9 percent increase First Half Summary ◦ Revenue declined 4.5 percent year-over-year to $5.8 billion ▪ Excluding prior year change to the provision for claimed costs, revenue declined 2.7 percent ◦ Net Income of $446 million, a 19.6 percent decrease ◦ Adjusted Net Income1 of $367 million, an 11.1 percent decrease ◦ Adjusted EBITDA1 of $635 million, a 4.7 percent decrease ◦ Adjusted EBITDA Margin on Revenue1 remained flat at 10.9% ◦ Adjusted Diluted EPS1 of $2.97, a 6.9 percent decrease ◦ Free cash flow1 of $491 million, compared to $583 million in the prior year A regular quarterly dividend of $0.55 per share will be payable on December 2, 2025, to stockholders of record on November 14, 2025. 1 Due to the fiscal 2025 change in rounding presentation to millions, comparative period presentation within this release has been adjusted accordingly. 1 Revenue, Excluding Billable Expenses, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, Adjusted EBITDA Margin on Revenue, and Free Cash Flow are non- GAAP financial measures. See "Non-GAAP Financial Information" below for additional details.2 Three Months Ended September 30, Six Months Ended September 30, 2025 2024 % Change 2025 2024 % Change (unaudited) (unaudited) Revenue $2,890 $3,146 (8.1)% $5,814 $6,088 (4.5)% Revenue Ex. Billable Expenses $1,972 $2,178 (9.5)% $4,015 $4,175 (3.8)% Net Income $175 $390 (55.1)% $446 $555 (19.6)% Adjusted Net Income $183 $233 (21.5)% $367 $413 (11.1)% Diluted EPS $1.42 $3.01 (52.8)% $3.58 $4.27 (16.2)% Adjusted Diluted EPS $1.49 $1.81 (17.7)% $2.97 $3.19 (6.9)% EBITDA $324 $591 (45.2)% $621 $887 (30.0)% Adjusted EBITDA $324 $364 (11.0)% $635 $666 (4.7)% Adjusted EBITDA Margin on Revenue 11.2% 11.6% -40 bps 10.9% 10.9% — Net Cash Provided by Operating Activities $421 $587 (28.3)% $540 $639 (15.5)% Free Cash Flow $395 $563 (29.8)% $491 $583 (15.8)% FINANCIAL SUMMARY 2 Reconciliations omitted in reliance on Item 10(e)(1)(i)(B) of Regulation S-K. See "Non-GAAP Financial Information." 3 Fiscal 2026 Guidance assumes an adjusted effective tax rate of 23–25% and average diluted shares outstanding of 122–123 million. 4 Fiscal 2026 Guidance assumes capital expenditures of approximately $100 million and $235 million cash tax benefit relative to initial guidance, due to new S174 rules under the One Big Beautiful Bill. OPERATING PERFORMANCE UPDATED FISCAL 2026 GUIDANCE PRIOR FISCAL 2026 GUIDANCE Revenue $11.3 - $11.5 billion $12.0 - $12.5 billion Revenue Growth (4.0 - 6.0)% 0 - 4.0% Adjusted EBITDA $1,190 - $1,220 million $1,315 - $1,370 million Adjusted EBITDA Margin on Revenue Mid 10% ~11% Adjusted Diluted EPS3 $5.45 - $5.65 $6.20 - $6.55 Free Cash Flow4 $850 - $950 million $900 - $1,000 million EARNINGS WEBCAST We will host a live conference call at 8 a.m. EDT on Friday, October 24, 2025, to discuss the financial results for our second quarter of fiscal year 2026. Analysts and institutional investors may participate on the call by registering online at investors.boozallen.com. The conference call will be webcast simultaneously to the public through a link at investors.boozallen.com. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at investors.boozallen.com. A replay of the conference call will also be available on the site beginning at 11 a.m. EDT on Friday, October 24, 2025, and continuing for 12 months. OUTLOOK2 The Company is updating its fiscal year 2026 guidance as noted in the table below:3 ABOUT BOOZ ALLEN HAMILTON Booz Allen is an advanced technology company delivering outcomes with speed for America’s most critical defense, civil, and national security priorities. We build technology solutions using AI, cyber, and other cutting-edge technologies to advance and protect the nation and its citizens. By focusing on outcomes, we enable our people, clients, and their missions to succeed—accelerating the nation to realize our purpose: Empower People to Change the World®. With global headquarters in McLean, Virginia, our firm employs approximately 32,500 people globally as of September 30, 2025, and had revenue of $12.0 billion for the 12 months ended March 31, 2025. To learn more, visit www.boozallen.com. (NYSE: BAH) CONTACT INFORMATION Investor Relations Dustin Darensbourg [email protected] Media Relations Jessica Klenk [email protected] FINANCIAL INFORMATION Booz Allen utilizes and discusses in this release Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow exclude the impact of the items detailed in the supplemental exhibits, as these items are generally not operational in nature. These non-GAAP measures also provide another basis for comparing period to period results by excluding potential differences caused by non-operational and unusual or non-recurring items. “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs such as subcontractor expenses, travel expenses, and other non-labor expenses incurred to perform on contracts. Billable expenses generally have lower margin and thus are less indicative of our profit generation capacity. "EBITDA” represents net income before income taxes, interest expense, net and other income (expense), net, and depreciation and amortization. “Adjusted EBITDA” represents net income before income tax expense (benefit), interest expense, net and other income (expense), net and depreciation and amortization and before certain other items, including the change in provision for claimed costs for historical rate years, certain other corporate expenses, DC tax assessment adjustment, and certain insurance recoveries. “Adjusted EBITDA Margin on Revenue” is calculated as Adjusted EBITDA divided by revenue. Booz Allen prepares Adjusted EBITDA and Adjusted EBITDA Margin on Revenue to eliminate the impact of items it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Net Income” represents net income before: (i) the change in provision for claimed costs for historical rate years (ii) certain other corporate expenses, (iii) acquisition amortization, (iv) certain insurance recoveries, and (v) amortization or write-off of debt issuance costs and debt discount, in each case net of the tax effect where appropriate calculated using an assumed effective tax rate. Booz Allen prepares Adjusted Net Income to eliminate the impact of items, net of tax, it does not consider indicative of ongoing operating performance due to their inherent unusual, extraordinary or non-recurring nature or because they result from an event of a similar nature. “Adjusted Diluted EPS” represents diluted EPS calculated using Adjusted Net Income as opposed to net income. Additionally, Adjusted Diluted EPS does not contemplate any adjustments to net income as required under the two- class method as disclosed in the footnotes to the consolidated financial statements of the Company's Form 10-K for the fiscal year ended March 31, 2025. "Free Cash Flow" represents the net cash generated from operating activities less the impact of purchases of property, equipment and software. Booz Allen presents these supplemental measures because it believes that these measures provide investors and securities analysts with important supplemental information with which to evaluate Booz Allen’s performance, long-term earnings potential, or liquidity, as applicable.These non-GAAP measurements may vary from and may not be comparable to similarly titled measures by other companies in Booz Allen’s industry. "Adjusted Effective Tax Rate" represents income tax expense (benefit) excluding the income tax effects of adjustments to net income, divided by adjusted earnings before income tax expense. "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months. Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage Ratio are not recognized measurements under accounting principles generally accepted in the United States, or GAAP, and when analyzing Booz Allen’s performance or liquidity, as applicable, investors should (i) evaluate each adjustment in our reconciliation of revenue to Revenue, Excluding Billable Expenses, net income to Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted Earnings Per Share, net cash provided by operating activities to Free Cash Flow, and net debt to Net Leverage Ratio, (ii) use Revenue, Excluding Billable Expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, and Adjusted Diluted EPS in addition to, and not as an alternative to, revenue, net income or diluted EPS as measures of operating results, each as defined under GAAP, (iii) use Free Cash Flow and Net Leverage Ratio, in addition to, and not as an alternative to, net cash provided by operating activities as a measure of liquidity, each as defined under GAAP, and (iv) use Net Leverage Ratio in addition to, and not as an alternative to, net debt as a measure of Booz Allen's debt leverage. Exhibit 4 includes a reconciliation of Revenue, Excluding Billable Expenses, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow and Net Leverage Ratio to the most directly comparable financial measure calculated and presented in accordance with GAAP. With respect to our expectations under “Outlook” above, a reconciliation of Adjusted Diluted EPS guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward- looking basis due to our inability to predict our stock price, equity grants, and dividend declarations during the course of fiscal 2026. Projecting future stock price, equity grants, and the dividends to be declared would be necessary to accurately calculate the difference between Adjusted Diluted EPS and GAAP EPS as a result of the effects of the two-class method and related possible dilution used in the calculation of EPS. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. We expect the variability of the above charges to have an unpredictable, and potentially significant, impact on our future GAAP financial results. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. In addition, our expectations for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 are presented under "Outlook" above and management may discuss its expectation for Adjusted EBITDA and Adjusted EBITDA Margin on Revenue for fiscal 2026 from time to time. A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin on Revenue guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to our inability to predict specific quantification of the amounts that would be required to reconcile such measures. Consequently, any attempt to disclose such reconciliation would imply a degree of precision that could be confusing or misleading to investors. Accordingly, Booz Allen is relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude the reconciliation. 4FORWARD LOOKING STATEMENTS Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen’s preliminary financial results, financial outlook and guidance, including forecasted revenue, Diluted EPS, and Adjusted Diluted EPS, future quarterly dividends, and future improvements in operating margins, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include: • any issue that compromises our relationships with the U.S. government or damages our professional reputation, including negative publicity concerning government contractors in general or us in particular; • changes in U.S. government spending, including a continuation of efforts by the U.S. government to reduce U.S. government spending, increased insourcing by certain U.S. government agencies, and shifts in expenditures away from agencies or programs that we support, as well as associated uncertainty around the timing, extent, nature and effect of such efforts; • U.S. government shutdowns as well as delayed long-term funding of our contracts; • failure to comply with new and existing U.S. and international laws and regulations; • our ability to compete effectively in the competitive bidding process and delays or losses of contract awards caused by competitors’ protests of major contract awards received by us; • the loss of U.S. government GSA Schedules or our position as prime contractor on government-wide acquisition contract vehicles (“GWACs”); • variable purchasing patterns under certain of our U.S. government contracts and changes in the mix of our contracts including our ability to accurately estimate or otherwise recover expenses, time, and resources for our contracts; • our ability to realize the full value of and replenish our backlog, generate revenue under certain of our contracts, and the timing of our receipt of revenue under contracts included in backlog; • internal system or service failures and security breaches, including, but not limited to, those resulting from external or internal threats, including cyber attacks on our network and internal systems or on our customers’ network or internal systems; • misconduct or other improper activities from our employees, subcontractors or suppliers, including the improper access, use or release of our or our customers’ sensitive or classified information; • failure to maintain strong relationships with other contractors, or the failure of contractors with which we have entered into a sub or prime-contractor relationship to meet their obligations to us or our customers; • inherent uncertainties and potential adverse developments in legal or regulatory proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, withheld payments, penalties, or other unfavorable outcomes including debarment, as well as disputes over the availability of insurance or indemnification; • risks related to a possible recession and volatility or instability of the global financial system, including the failures of financial institutions and the resulting impact on counterparties and business conditions generally; • risks related to a deterioration of economic conditions or weakening in credit or capital markets; • risks related to pending, completed, and future acquisitions and dispositions, including the ability to satisfy specified closing conditions for pending transactions, such as those related to receipt of regulatory approval or lack of regulatory intervention, and to realize the expected benefits from completed acquisitions and dispositions; • risks inherent in the government contracting environment; and • risks related to our indebtedness and credit facilities which contain financial and operating covenants. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K filed with the SEC on May 23, 2025. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 5EXHIBIT 1 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Operations 6 Three Months Ended September 30, Six Months Ended September 30, (unaudited) (unaudited) (Amounts in millions, except per share data) 2025 2024 2025 2024 Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Operating costs and expenses: Cost of revenue 1,340 1,362 2,763 2,734 Billable expenses 918 968 1,799 1,913 General and administrative expenses 308 225 631 554 Depreciation and amortization 41 42 81 83 Total operating costs and expenses 2,607 2,597 5,274 5,284 Operating income 283 549 540 804 Interest expense, net (48) (46) (92) (84) Other (expense) income (2) 10 1 7 Income before income taxes 233 513 449 727 Income tax expense 58 123 3 172 Net income $ 175 $ 390 $ 446 $ 555 Earnings per common share: Basic $ 1.42 $ 3.02 $ 3.59 $ 4.29 Diluted $ 1.42 $ 3.01 $ 3.58 $ 4.27EXHIBIT 2 Booz Allen Hamilton Holding Corporation Condensed Consolidated Balance Sheets (Amounts in millions, except share and per share data) September 30, 2025 March 31, 2025 Assets (unaudited) Current assets: Cash and cash equivalents $ 816 $ 885 Accounts receivable, net 2,217 2,271 Prepaid expenses and other current assets 188 157 Total current assets 3,221 3,313 Property and equipment, net of accumulated depreciation 171 177 Operating lease right-of-use assets 160 178 Intangible assets, net of accumulated amortization 537 563 Goodwill 2,405 2,405 Deferred tax assets 244 332 Other long-term assets 415 344 Total assets $ 7,153 $ 7,312 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ 83 $ 83 Accounts payable and other accrued expenses 1,001 987 Accrued compensation and benefits 675 702 Operating lease liabilities 41 41 Other current liabilities 34 33 Total current liabilities 1,834 1,846 Long-term debt, net of current portion 3,877 3,915 Operating lease liabilities, net of current portion 160 180 Other long-term liabilities 286 368 Total liabilities 6,157 6,309 Stockholders’ equity: Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 169,111,128 shares at September 30, 2025 and 168,522,544 shares at March 31, 2025; outstanding, 122,025,314 shares at September 30, 2025 and 124,879,004 shares at March 31, 2025 2 2 Treasury stock, at cost — 47,085,814 shares at September 30, 2025 and 43,643,540 shares at March 31, 2025 (3,459) (3,082) Additional paid-in capital 1,105 1,042 Retained earnings 3,378 3,070 Accumulated other comprehensive (loss) income (30) (29) Total stockholders’ equity 996 1,003 Total liabilities and stockholders’ equity $ 7,153 $ 7,312 7EXHIBIT 3 Booz Allen Hamilton Holding Corporation Condensed Consolidated Statements of Cash Flows UNAUDITED Six Months Ended September 30, (Amounts in millions) 2025 2024 Cash flows from operating activities Net income $ 446 $ 555 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 81 83 Noncash lease expense 25 26 Stock-based compensation expense 36 46 Net gains on investments, dispositions, and other (4) (8) Changes in operating assets and liabilities: Accounts receivable, net 54 (161) Deferred income taxes and income taxes receivable / payable 78 (30) Prepaid expenses and other current and long-term assets (77) (29) Accrued compensation and benefits (13) 195 Accounts payable and other accrued expenses 23 (24) Other current and long-term liabilities (109) (14) Net cash provided by operating activities 540 639 Cash flows from investing activities Purchases of property, equipment, and software (49) (56) Payments for business acquisitions and dispositions, net of cash acquired — (93) Net payments for investments (12) (4) Net cash used in investing activities (61) (153) Cash flows from financing activities Proceeds from issuance of common stock 27 21 Repurchases of common stock (395) (348) Cash dividends paid (138) (133) Repayments on revolving credit facility, term loans, and Senior Notes (42) (21) Net cash used in financing activities (548) (481) Net (decrease) increase in cash and cash equivalents (69) 5 Cash and cash equivalents––beginning of period 885 554 Cash and cash equivalents––end of period $ 816 $ 559 Supplemental disclosures of cash flow information Net cash paid during the period for: Interest $ 87 $ 97 Income taxes $ 41 $ 190 8EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (UNAUDITED) Three Months Ended September 30, Six Months Ended September 30, (In millions, except share and per share data) 2025 2024 2025 2024 Revenue, Excluding Billable Expenses Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Less: Billable expenses 918 968 1,799 1,913 Revenue, Excluding Billable Expenses* $ 1,972 $ 2,178 $ 4,015 $ 4,175 EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin on Revenue Net income $ 175 $ 390 $ 446 $ 555 Income tax expense 58 123 3 172 Interest expense, net and other income (expense), net 50 36 91 77 Depreciation and amortization 41 42 81 83 EBITDA $ 324 $ 591 $ 621 $ 887 Change in provision for claimed costs (a) — (113) — (113) Other corporate expenses (b) — 1 14 7 Insurance recoveries (c) — (115) — (115) Adjusted EBITDA $ 324 $ 364 $ 635 $ 666 Net income margin 6.1 % 12.4 % 7.7 % 9.1 % Adjusted EBITDA Margin on Revenue 11.2 % 11.6 % 10.9 % 10.9 % Adjusted Net Income Net income $ 175 $ 390 $ 446 $ 555 Change in provision for claimed costs (a) — (113) — (113) Other corporate expenses (b) — 1 14 7 Acquisition amortization (d) 12 13 24 26 Insurance recoveries (c) — (115) — (115) Amortization or write-off of debt issuance costs and debt discount — 2 — 3 Adjustments for tax effect (e) (4) 55 (117) 50 Adjusted Net Income $ 183 $ 233 $ 367 $ 413 Adjusted Diluted Earnings Per Share Weighted-average number of diluted shares outstanding 122,881,563 128,848,077 123,677,992 129,387,722 Diluted earnings per share $ 1.42 $ 3.01 $ 3.58 $ 4.27 Adjusted Net Income Per Diluted Share $ 1.49 $ 1.81 $ 2.97 $ 3.19 Free Cash Flow Net cash provided by operating activities $ 421 $ 587 $ 540 $ 639 Less: Purchases of property, equipment and software (26) (24) (49) (56) Free Cash Flow $ 395 $ 563 $ 491 $ 583 * Revenue, Excluding Billable Expenses includes $113 million of revenue for the three and six months ending September 30, 2024 resulting from the reduction to our provision for claimed costs as noted below. 9 (a) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (b) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from a cost management initiative and restructuring of the Civil business. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Amortization expense associated with acquired intangibles from acquisitions. (e) Reflects the tax effect of adjustments at an assumed effective tax rate of 26%, which approximates the blended federal and state tax rates, and consistently excludes the impact of other tax credits and incentive benefits realized. The tax effect of certain discrete items is calculated specifically and may vary from the general 26% rate. The year to date tax effect also includes the one-time benefit stemming from the favorable agreement reached with the IRS, resulting in $86 million in release of tax reserves and $20 million (net of tax effect) for the accrual of interest income on the income tax receivable. See Note 9, "Income Taxes," to the condensed consolidated financial statements for further information.EXHIBIT 4 Booz Allen Hamilton Holding Corporation Non-GAAP Financial Information (Continued) (UNAUDITED) Three Months Ended September 30, 2025 Three Months Ended June 30, 2025 Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 (In millions, except share and per share data) Net income $ 175 $ 271 $ 193 $ 187 Income tax expense (benefit) 58 (55) 49 61 Interest expense, net and other income (expense) 50 41 32 43 Depreciation and amortization 41 40 42 40 EBITDA $ 324 $ 297 $ 316 $ 331 Other corporate expenses (a) — 14 — 1 Adjusted EBITDA $ 324 $ 311 $ 316 $ 332 Last 12 months Adjusted EBITDA $ 1,283 Total Debt $ 3,960 Less: Cash 816 Net Debt $ 3,144 Net Leverage Ratio (e) 2.5 Three Months Ended September 30, 2024 Three Months Ended June 30, 2024 Three Months Ended March 31, 2024 Three Months Ended December 31, 2023 (In millions, except share and per share data) Net income $ 390 $ 165 $ 128 $ 146 Income tax expense 123 49 91 62 Interest expense, net and other income (expense) 36 41 45 40 Depreciation and amortization 42 41 40 41 EBITDA $ 591 $ 296 $ 304 $ 289 Change in provision for claimed costs (b) (113) — — — Insurance recoveries (c) (115) — — — Other corporate expenses (a) 1 6 2 2 DC tax assessment adjustment (d) — — (20) — Adjusted EBITDA $ 364 $ 302 $ 286 $ 291 Last 12 months Adjusted EBITDA $ 1,243 Total Debt $ 3,393 Less: Cash 559 Net Debt $ 2,834 Net Leverage Ratio (e) 2.3 10 (a) In fiscal 2026, other corporate expenses consist primarily of nonrecoverable costs associated with employee severance from a cost management initiative and restructuring of the Civil business. See Note 13, “Supplemental Condensed Consolidated Financial Information,” to the condensed consolidated financial statements for further information. In fiscal 2025, other corporate expenses consist primarily of acquisition related costs from the acquisition of PAR Government Systems Corporation (“PGSC”). (b) Represents the reduction to our provision for claimed costs for years prior to fiscal 2025 recorded during the second quarter of fiscal 2025, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its audits of our claimed costs for multiple fiscal years. See Note 19, “Commitments and Contingencies,” to the consolidated financial statements in the Company's Form 10-K for the fiscal year ended March 31, 2025 for further information. (c) Reflects insurance recoveries from claims related to the Company’s fiscal 2024 settlement as described in Note 20, “Commitments and Contingencies,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. (d) Reflects the impact (specifically the revenue from recoverable expenses) of the Company's unfavorable ruling from the District of Columbia Court of Appeals related to contested tax assessments from the District of Columbia Office of Tax and Revenue (“DC OTR”). See Note 13, “Income Taxes,” to the consolidated financial statements contained within the Annual Report on Form 10-K for the fiscal year ended March 31, 2024 for further information. (e) "Net Leverage Ratio" is calculated as net debt (total debt less cash) divided by Adjusted EBITDA over the prior twelve months.EXHIBIT 5 Booz Allen Hamilton Holding Corporation Operating Data (UNAUDITED) Backlog (1): As of September 30, (Amounts in millions) 2025 2024 Funded $ 5,440 $ 5,794 Unfunded 10,668 8,946 Priced options 24,080 24,326 Total backlog $ 40,188 $ 39,066 (1) Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Book-to-Bill (1): Three Months Ended September 30, Trailing Twelve Months Ended June 30, 2025 2024 2025 2024 1.7x 2.4x 1.1x 1.5x (1) Book-to-bill is calculated as net bookings, which represents the change in total backlog during the relevant fiscal period plus the relevant fiscal period revenue, divided by the relevant fiscal period revenue. Amounts reflect the Company’s change in policy during the fourth quarter of fiscal 2025 to exclude contracts for which the period of performance has expired. Headcount As of September 30, (Amounts are rounded) 2025 2024 Total Headcount 32,500 35,800 Customer Staff Headcount 29,600 32,700 Revenue by Customer Type Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 Defense $ 1,580 $ 1,547 $ 3,097 $ 2,968 Intelligence 483 494 967 951 Civil 827 1,105 1,750 2,169 Total Revenue $ 2,890 $ 3,146 $ 5,814 $ 6,088 Percentage of Total Revenue by Contract Type Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 Cost-Reimbursable 59% 57% 60% 56% Time-and-Materials 22% 23% 22% 23% Fixed-Price 19% 20% 18% 21% 1124 Oct 2025
8-KSubmission of Matters to Shareholder Vote29 Jul 2025