Parsons reported $7.60B of remaining performance obligations at 30 Sep 2026, up 9% from a year earlier and up 10% from the previous quarter. That is 1.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.42.
Net new backlog added in the latest quarter: $700M.
Over the last twelve months it turned about 90% of its opening backlog into revenue (12-month conversion).
53% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 4.8% of the backlog.
Twelve-month book-to-bill: 1.09, i.e. 1.09 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +11 points — orders are running ahead of revenue.
By backlog size it ranks 87th among US filers the cockpit tracks.
Parsons backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$7.60B
$6.32B
1.2 yrs
$366M
30 Jun 2026
$6.90B
$6.29B
1.1 yrs
$407M
31 Mar 2026
$7.10B
$6.30B
1.1 yrs
$360M
31 Dec 2025
$7.10B
$6.36B
1.1 yrs
$340M
30 Sep 2025
$7.00B
$6.49B
1.1 yrs
$344M
30 Jun 2025
$7.00B
$6.68B
1.0 yrs
$320M
31 Mar 2025
$6.80B
$6.77B
1.0 yrs
$298M
31 Dec 2024
$6.70B
$6.75B
1.0 yrs
$290M
30 Sep 2024
$6.70B
$6.51B
1.0 yrs
$301M
30 Jun 2024
$6.20B
$6.12B
1.0 yrs
$298M
31 Mar 2024
$6.30B
$5.80B
1.1 yrs
$283M
31 Dec 2023
$6.40B
$5.44B
1.2 yrs
$301M
Questions
What is Parsons's backlog?
Parsons reported $7.60B of remaining performance obligations at 30 Sep 2026, up 9% from a year earlier and up 10% from the previous quarter. That is 1.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.42.
How fast does Parsons's backlog turn into revenue?
Over the last twelve months Parsons recognised revenue equal to about 90% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.