HUNTINGTON INGALLS INDUSTRIES, INC. FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$12.5B
Gross margin	— not reported
Operating income	$657.0M
Net income	$605.0M
Diluted EPS	$15.39
Cash & equivalents	— not reported
Total assets	$12.7B
Long-term debt	$2.7B

Key takeaway

HII is America's largest naval shipbuilder, deriving about 81% of 2025 revenue from the U.S. Navy across its Ingalls, Newport News, and Mission Technologies segments.

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Beneath the surface

Goodwill of $2.65 billion sits against $2.755 billion of accumulated goodwill impairment losses already recognized, indicating a history of prior write-downs even as goodwill remains a large asset.

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