Goldman Sachs reiterates its Sell rating on Booz Allen Hamilton (BAH) following mixed F4Q26 results, citing concerns over a 12% headcount reduction and muted FY27 revenue growth guidance.
Key Takeaways
- 1.Maintain Sell rating due to expectations of limited multi-year revenue and earnings growth despite a de-rated valuation.
- 2.F4Q26 results were mixed, with revenue missing consensus while EBITDA and EPS exceeded expectations.
- 3.Headcount saw a significant decline of 12% year-over-year, indicating potential operational contraction.
Table of Contents
- Our view on the stock post F4Q26 earnings
- Key elements of the quarter
- SELL
- Revenue and margins
- Guidance
- Price target methodology and risks
- Disclosure Appendix
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
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Authors
Noah Poponak, CFAConnor DessertNizar Mesani
Securities
BAH
Themes
Muted Post-Earnings GrowthHeadcount Attrition
Regions
North AmericaUnited States