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How Amentum Holdings (AMTM) makes money

Amentum Holdings (AMTM) made $3.5B of revenue in the third quarter fiscal 2026 (Q3 FY26), -2% from a year earlier. GES brought in $2.0B (58%); DS brought in $1.5B (42%). Of every dollar of revenue, 5¢ was left as operating profit, 2¢ was left as net earnings.

Drawing the Sankey…

Amentum Holdings revenue by segment, Q3 FY26Amentum Holdings revenue by segment, Q3 FY26GES$2.0BDS$1.5B
Amentum Holdings: revenue by line, Q2 FY25 to Q3 FY26Amentum Holdings: revenue by line, Q2 FY25 to Q3 FY26GESDSGES: $2.0B latest$2.0BDS: $1.5B latest$1.5BQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
GES went from 62% of revenue in Q2 FY25 to 58% in Q3 FY26, the largest shift in the mix.
Amentum Holdings revenue by quarterAmentum Holdings revenue by quarter$2.2BQ4 FY24$3.5BQ2 FY25$3.6BQ3 FY25$3.9BQ4 FY25$3.2BQ1 FY26$3.5BQ2 FY26$3.5BQ3 FY26
Amentum Holdings: where each dollar of revenue goesAmentum Holdings: where each dollar of revenue goesOperating profit5¢Income tax1¢Net earnings2¢Operating cash flow4¢Free cash flow4¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
GES$2.0B58.3%+1%-5%
DS$1.5B41.7%-0.7%+3%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$3.5B100.0%
Operating profit$172M4.9%
Income tax$28.0M0.8%
Net earnings$66.0M1.9%
Operating cash flow$146M4.2%
Free cash flow$135M3.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$3.5B-2%
Q2 FY26$3.5B-0.4%
Q1 FY26$3.2B-5%
Q4 FY25$3.9B+77%
Q3 FY25$3.6B+66%
Q2 FY25$3.5B+70%
Q4 FY24$2.2B—

From Amentum Holdings' 10-Q filed Aug 11, 2026 (on EDGAR).

Questions

How does Amentum Holdings make money?

Amentum Holdings (AMTM) made $3.5B of revenue in the third quarter fiscal 2026 (Q3 FY26), -2% from a year earlier. GES brought in $2.0B (58%); DS brought in $1.5B (42%). Of every dollar of revenue, 5¢ was left as operating profit, 2¢ was left as net earnings.

What is Amentum Holdings' biggest business?

GES: $2.0B in the third quarter fiscal 2026, 58% of revenue, -5% from a year earlier.

What is Amentum Holdings' profit margin?

Net earnings were $66.0M, 1.9% of revenue, in the third quarter fiscal 2026; the operating margin was 4.9%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.