MeritValue

Booz Allen Hamilton Holding Corp

BAHdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$8.36B1$9.26B2$10.7B3$12B3$11.2B3
Net income$466.7M4$272M5$606M6$935M6$851M6
Operating cash flow$736.5M7$603M8$259M9$1.01B9$1.04B9
Capital expenditure$80M10$76M11$67M12$98M12$90M12
Free cash flow (derived)$656.6M7$527M8$192M9$911M9$951M9
Total debt$5.6B13$5.62B14$6.82B15$8B16$7.88B16
Cash & equivalents$695.9M17$404.9M18$554M19$885M20$728M20
Diluted shares134.9M132.7M130.8M128.3M122.4M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.0000082%
of the whole company
Your share of last year’s profit
$69.54
Your share of its debt
$643.92
Your share of free cash flow
$77.71
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$211.72
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth13.0%
  • fcfBase$911M
DCF · Growth Exit 5Y
$130.38
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth13.0%
  • fcfBase$911M
Earnings Power Value
$52.18
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$606M
  • growthAssumed0.0%
Graham Number
$37.44
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years13.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $130.38

Default growth 13.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2022-03-31 · accession 0001443646-24-000075 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-03-31 · accession 0001443646-25-000076 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2024-03-31 · accession 0001628280-26-037521 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2022-03-31 · accession 0001443646-24-000075 (NetIncomeLoss)
  5. 10-K · period ending 2023-03-31 · accession 0001443646-25-000076 (NetIncomeLoss)
  6. 10-K · period ending 2024-03-31 · accession 0001628280-26-037521 (NetIncomeLoss)
  7. 10-K · period ending 2022-03-31 · accession 0001443646-24-000075 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-03-31 · accession 0001443646-25-000076 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-03-31 · accession 0001628280-26-037521 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-03-31 · accession 0001443646-24-000075 (PaymentsToAcquireProductiveAssets)
  11. 10-K · period ending 2023-03-31 · accession 0001443646-25-000076 (PaymentsToAcquireProductiveAssets)
  12. 10-K · period ending 2024-03-31 · accession 0001628280-26-037521 (PaymentsToAcquireProductiveAssets)
  13. 10-K · period ending 2022-03-31 · accession 0001443646-23-000089 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2023-03-31 · accession 0001443646-24-000075 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-03-31 · accession 0001443646-25-000076 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2025-03-31 · accession 0001628280-26-037521 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2022-03-31 · accession 0001443646-23-000089 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-03-31 · accession 0001443646-24-000075 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-03-31 · accession 0001443646-25-000076 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2025-03-31 · accession 0001628280-26-037521 (CashAndCashEquivalentsAtCarryingValue)