TacticScaleWhat Amentum Does & How It Makes Money (AMTM)
Updated October 2026 · reflects Amentum's latest reported financials
Government contractor providing engineering, technology and nuclear services. Amentum earns revenue by performing engineering, technology and support services under contracts, mainly with U.S.
How Amentum makes money
Amentum earns revenue by performing engineering, technology and support services under contracts, mainly with U.S. federal government agencies and allied nations, plus some commercial clients.
What Amentum does
Amentum Holdings is an engineering and technology services company based in Chantilly, Virginia. It was incorporated in 2023, works in the U.S. and internationally, and reports two segments: Digital Solutions and Global Engineering Solutions. Digital Solutions sells data-driven services to federal and commercial clients, including intelligence analytics, space system development, cybersecurity and IT. Global Engineering Solutions takes on large-scale environmental remediation, nuclear power work, platform engineering, sustainment and supply chain management for the U.S. government and allied nations. Most of its revenue comes from government contracts.
Products & services
- Intelligence analytics
- Space system development
- Cybersecurity and IT services
- Environmental remediation
- Nuclear power solutions
- Platform engineering, sustainment and supply chain management
What is Amentum worth?
On an owner-earnings DCF, Amentum's most-likely value is about $36 versus a recent price near $19 (88% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$23) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $19 is below even the no-growth floor ($23); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -1.9%/yr. A bargain only if that pessimism is overdone.
⚠ High leverage — net debt is 5.5× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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