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Parsons (PSN)

Parsons is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities.

Company profile

Ticker
PSN
Exchange
Website
CEO
Charles Harrington
Employees
Incorporated
Location
Fiscal year end
Former names
PARSON CORP
SEC CIK
Subsidiaries
3D/International, Inc. • Amplus Corporation • Argotek, Inc. • Blackhorse Solutions, Inc. • Braxton Science & Technology Group, LLC • Braxton Technologies, LLC • Bright Star For Engineering Services LLC • Centerra-Parsons Pacific, LLC • Chas. T. Main, Inc. • Checkmark Vehicle Safety Services, Inc. ...
IRS number
953232481

PSN stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$43.00
Low target
$40.00
High target
$46.00
Morgan Stanley
Maintains
Equal-Weight
$40.00
4 Aug 22
Raymond James
Maintains
Outperform
$46.00
4 Aug 22

Calendar

3 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 125.98M 125.98M 125.98M 125.98M 125.98M 125.98M
Cash burn (monthly) 53.21M 29.79M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 77.22M 43.23M n/a n/a n/a n/a
Cash remaining 48.76M 82.76M n/a n/a n/a n/a
Runway (months of cash) 0.9 2.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Aug 22 Ball George L. Common Stock Buy Acquire P No No 41.5 70,000 2.91M 122,857
5 Aug 22 Ball George L. Common Stock Buy Acquire P No No 41.5 35,000 1.45M 87,857
1 Aug 22 Matthew Ofilos Common Stock Grant Acquire A No No 0 20,992 0 31,432
98.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 174 156 +11.5%
Opened positions 39 25 +56.0%
Closed positions 21 24 -12.5%
Increased positions 58 40 +45.0%
Reduced positions 55 58 -5.2%
13F shares Current Prev Q Change
Total value 3.95B 3.39B +16.6%
Total shares 102.04M 100.67M +1.4%
Total puts 92.1K 0 NEW
Total calls 52.4K 38K +37.9%
Total put/call ratio 1.8
Largest owners Shares Value Change
Newport Trust 68.88M $2.67B +0.2%
Earnest Partners 3.41M $132.15M -0.4%
MKFCF Mackenzie Financial 3.15M $122.06M -0.5%
Vanguard 3.13M $121.08M +15.2%
TROW T. Rowe Price 2.51M $97.21M +1.6%
BLK Blackrock 2.05M $79.39M +0.9%
STT State Street 1.84M $71.2M +19.6%
BAC Bank Of America 1.55M $60.02M +9.2%
Allspring Global Investments 1.48M $57.28M -5.1%
IVZ Invesco 1.4M $54.1M +26.3%
Largest transactions Shares Bought/sold Change
Etf Managers 525.11K -794.83K -60.2%
Lazard Asset Management 0 -619.84K EXIT
Lord, Abbett & Co. 530.24K +530.24K NEW
Vanguard 3.13M +412.99K +15.2%
Norges Bank 0 -405.46K EXIT
AMP Ameriprise Financial 357.97K +357.97K NEW
FMR 351.59K +351.56K +1302077.8%
Geode Capital Management 464.17K -335.29K -41.9%
STT State Street 1.84M +301.41K +19.6%
IVZ Invesco 1.4M +290.69K +26.3%

Financial report summary

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Risks
  • Risk Relating to Our Business
  • Risk Related to Our Common Stock
  • Our business, results of operations, financial condition, cash flows and stock price can be adversely affected by pandemics, epidemics, or other public health emergencies, such as the current global COVID-19 pandemic.
  • Government spending and priorities could change in a manner that adversely affects our future revenue and limits our growth prospects.
  • Our failure to comply with a variety of complex procurement rules and regulations could result in our being liable for penalties, including termination of our government contracts, disqualification from bidding on future government contracts and suspension or debarment from government contracting.
  • Governments may adopt new contract rules and regulations or revise their procurement practices in a manner adverse to us at any time.
  • A substantial portion of our business is subject to reviews, audits and cost adjustments by government agencies, which, if resolved unfavorably to us, could adversely affect our profitability, cash flows or growth prospects.
  • Our government contracts may be terminated by the government counterparty at any time and may contain other provisions permitting the government to discontinue contract performance, and if lost contracts are not replaced, our operating results may differ materially and adversely from those anticipated.
  • Our profitability could suffer if we are not able to timely and effectively utilize our employees or manage our cost structure.
  • Our focus on new growth areas for our business entails risks, including those associated with new relationships, clients, talent needs, capabilities, service offerings and maintaining our collaborative culture and core values.
  • We have submitted claims to clients for work we performed beyond the initial scope of some of our contracts. If these clients do not approve these claims, our results of operations could be adversely impacted.
  • Many of our contracts require innovative design capabilities, are technologically complex or are dependent upon factors not wholly within our control. Failure to meet these obligations could adversely affect our business, financial condition or results of operations.
  • We face aggressive competition that can impact our ability to obtain contracts and may affect our future revenues, profitability and growth prospects.
  • We may make acquisitions, investments, joint ventures and divestitures in the future that involve numerous risks, which if realized, may adversely affect our business and our future results.
  • We conduct a portion of our work through joint venture entities, some of which we do not have management control over, and with which we typically have joint and several liability with our joint venture partners.
  • We participate in joint ventures where we provide guarantees and may be adversely impacted by the failure of such joint venture or its participants to fulfill their obligations.
  • Our acquisitions may not achieve their full intended benefits or may disrupt our plans and operations.
  • We depend on our teaming arrangements and relationships with other contractors and subcontractors. If we are not able to maintain these relationships, of if these parties fail to satisfy
  • Our earnings and profitability may vary based on the mix of our contracts and may be adversely affected by our failure to accurately estimate and manage costs, time and resources.
  • Goodwill and intangible assets represent a significant amount of our total assets and any impairment of these assets would negatively impact our results of operations.
  • Systems that we develop, integrate, maintain, or otherwise support could experience security breaches which may damage our reputation with our clients and hinder future contract win rates.
  • Services we provide and technologies we develop are designed to detect and monitor threats to our clients, the failure of which may lead to reputational harm or liability against us by our clients or third parties and may subject our staff to potential threats, risk of loss or harm.
  • Unavailability or cancellation of third-party insurance coverage would increase our overall risk exposure as well as disrupt the management of our business operations.
  • Adverse judgments or settlements in legal disputes could result in materially adverse monetary damages or injunctive relief and damage our reputation.
  • Our business is subject to numerous legal and regulatory requirements and any violation of these requirements or any misconduct by our employees, subcontractors, agents or business partners could harm our business and reputation.
  • Our services and operations sometimes involve handling or disposing of hazardous substances or dangerous materials, and we are subject to environmental requirements and risks which could result in significant costs, liabilities and obligations.
  • Our failure to meet contractual schedule requirements, meet a required performance standard, meet our internal contractual performance projections or otherwise perform adequately on a project could adversely affect our business, financial condition or results of operations.
  • Failure to adequately protect, maintain, or enforce our rights in our intellectual property may adversely limit our competitive position.
  • Assertions by third parties of infringement, misappropriation or other violations by us of their intellectual property rights could result in significant costs and substantially harm our business, financial condition and operation results.
  • Our operations outside the United States expose us to legal, political and economic risks in different countries as well as currency exchange rate fluctuations that could harm our business and financial results.
  • We operate in many different jurisdictions and we could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-corruption laws.
  • We may not realize the full value of our backlog, which may result in lower-than-expected revenue.
  • If we cannot collect our receivables or if payment is delayed, our business may be adversely affected by our inability to generate cash flow, provide working capital or continue our business operations.
  • The agreements governing our debt contain a number of restrictive covenants which may limit our ability to finance future operations, acquisitions or capital needs or engage in other business activities that may be in our interest.
  • Prior to our initial public offering, we were 100% owned by the ESOP, which is a retirement plan that is intended to be qualified under the Internal Revenue Code. If the ESOP failed to meet the requirements of a tax qualified retirement plan, we could be subject to substantial penalties.
  • A failure to attract, train and retain skilled employees and our senior management team would adversely affect our ability to execute our strategy and may disrupt our operations.
  • We may lose one or more members of our senior management team or fail to develop new leaders, which could cause a disruption in the management of our business.
  • Negotiations with labor unions and possible work actions could divert management attention and disrupt operations. In addition, new collective bargaining agreements or amendments to existing agreements could increase our labor costs and operating expenses.
  • Many of our field project sites and facilities are inherently dangerous workplaces. Failure to manage our field project sites and facilities safely could result in environmental disasters, employee deaths or injuries, reduced profitability, the loss of projects or clients and possible exposure to litigation.
  • If we are unable to maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected.
  • If our stock price fluctuates, you could lose a significant part of your investment.
  • Our operating results and share price may be volatile, and the market price of our common stock may drop.
  • Sales of outstanding shares of our common stock into the market in the future by the ESOP could cause the market price of our common stock to drop significantly.
  • Qualifying ESOP participants have the right to receive distributions of shares of our common stock from the ESOP and can sell such shares in the market.
  • The issuance of additional stock, not reserved for issuance under our equity incentive plans or otherwise, will dilute all other stockholdings.
  • Your ability to influence corporate matters may be limited because the ESOP beneficially owns a majority of our stock and therefore our ESOP participants, voting the shares allocated to them under the ESOP, or the ESOP Trustee, who will have the right to vote shares for which no voting instructions are provided by employees, could have substantial control over us.
  • We are a “controlled company” within the meaning of the New York Stock Exchange listing standards and, as a result, qualify for exemptions from certain corporate governance requirements. You may not have the same protections afforded to stockholders of companies that are subject to such requirements.
  • Our ability to raise capital in the future may be limited, which could limit our business plan or adversely affect your investment.
  • Our certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • We have no current plans to declare dividends.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • The statements in this discussion regarding industry outlook, our expectations regarding our future performance, liquidity and capital resources and other non-historical statements in this discussion are forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the risks and uncertainties described in “Risk Factors” and “Special Note Regarding Forward-Looking Statements” in the Company’s Form 10-K for the year ended December 31, 2021.  We undertake no obligation to revise publicly any forward-looking statements.  Actual results may differ materially from those contained in any forward-looking statements.
  • PARSONS CORPORATION Enabling a safer, smarter, and more interconnected world. Engineered solutions for complex physical and digital infrastructure challenges SEGMENTS KEY FACTS AND FIGURES Technology-driven solutions for defense and intelligence customers FINANCIAL SNAPSHOT $4B Total Revenue Trailing 12-Months (Q2 2020) $4B Contract Awards Trailing 12-Months (Q2 2020) 75+ Years Of History Federal Solutions 49% Critical Infrastructure 51% Federal Solutions 58% Critical Infrastructure 42% Federal Solutions Critical Infrastructure ~16K Employees 6% Revenue Growth Trailing 12-Months (Q2 2020) 1.0X Book-To-Bill Ratio Trailing 12-Months (Q2 2020) $7.7B Backlog As Of 6/30/2020 PARSONS CORPORATION.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: aircraft, preliminarily, threat, Xator
Removed: impacted, loan, previously