LEIDOS HOLDINGS, INC.

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Quantum technology is maturing rapidly; An illustration of a battery powered by quantum technology

01/14/2022 | 09:54am EDT

Quantum technology isn't yet ready for widespread adoption, but some useful applications are starting to move from the research lab to the real world.

Why you should know: Experts predict quantum technology will transform drug discovery, energy efficiency, the global supply chain and much more.

Quantum technology will be a major technical focus for the U.S. and other players this decade. The industry is projected to grow to $65 billion by 2030 with the U.S. government alone investing hundreds of millions of dollars on research.

How it works: When subatomic particles are confined and isolated, their physical properties change and new properties emerge. Perhaps the most notable example is superpositioning, a 'quantum state' in which physical properties can exist in multiple states at once.

For example, classical computers use bits, which represent information in binary (1 or 0). Quantum computers use quantum bits (qubits), which can be 1 and 0 simultaneously.

'An analogy we like to use is a coin in the air as it's being flipped,' said Joe Kovba, a quantum and cyber technology expert at Leidos. 'It can be thought of as being in both a heads and tails state at the same time.'

Kovba said Leidos is focused on three specific fields:

Quantum sensing, which offers greater sensitivity than today's most advanced sensors.

Quantum communication, which offers greater protection of information.

Quantum computing, which offers exponentially faster speeds than classical computing.

Kovba said the rise of quantum technology will also present new threats.

'For example, greater computing power means potential cybersecurity risks,' Kovba said, 'so we're paying close attention to when and how hackers may be able to use quantum computing for harm.'

Last year, Leidos established a quantum computing council to research timelines and security modifications necessary to defend against future quantum computing attacks.

Looking ahead: Leidos has developed two novel applications of quantum technologies it hopes to demonstrate in laboratory and field experiments in 2022. Dr. Elizabeth Iwasawa, a Leidos quantum technology expert, said she expects them to be ready for use cases in the defense industry within the next two years.

'Over the next ten years, in collaboration with diverse work across many initiatives at Leidos, we expect to see innovative quantum technology solutions enabling new discriminating Leidos products and services,' she said.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 14 184 M - -
Net income 2022 728 M - -
Net Debt 2022 4 310 M - -
P/E ratio 2022 19,3x
Yield 2022 1,48%
Capitalization 13 748 M 13 748 M -
EV / Sales 2022 1,27x
EV / Sales 2023 1,19x
Nbr of Employees 43 000
Free-Float 99,1%
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Number of Analysts 14
Last Close Price 100,60 $
Average target price 117,82 $
Spread / Average Target 17,1%
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Managers and Directors
Roger A. Krone Chairman & Chief Executive Officer
Christopher R. Cage Chief Financial Officer
Donald Kosiak Chief Medical Officer & Senior Vice President
Steve Hull Chief Information Officer
James F. Carlini Chief Technology Officer
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