olivLaw · US equity research
CACI International Inc CACI
Services-Computer Integrated Systems Design · SIC 7373 · Vertical: Services-Computer Integrated Systems Design (SIC 7373)
CACI International is a technology-first national security company that delivers technology and expertise to U.S. defense, intelligence and civilian government agencies. With almost all revenue coming from the federal government, the company's results depend directly on public budgets and funding timing, which are currently uncertain.
At the close of 04 Nov 2026, CACI International Inc (CACI) stock was 632.16 USD (−7.05% on the day), with market capitalisation 14.0 bn USD, P/E 25.9 on diluted EPS of 24.36 USD over the last 12 months, beta 0.35, 52-week range 440.76–680.50 USD. Latest reported quarter (Q1 2027): revenue of 2.5 bn USD (+8.2% YoY), net income of 130.4 m USD (+4.5% YoY), diluted EPS 5.84 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 47.9
- neutral
- Bollinger (20, 2)
- 577.78 – 692.71
- in the lower half of the band · %B 0.47 · band width 18.1%
- SMA 50 / 200
- 626.70 / 569.19
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 14.01 / 11.49
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.3% | −2.0% | +3.3 pp | — |
| 3 months | +22.0% | −2.2% | +24.2 pp | — |
| 6 months | +26.6% | +4.3% | +22.3 pp | — |
| Year to date | +18.6% | +10.6% | +8.1 pp | — |
| 1 year | +8.1% | +10.5% | −2.4 pp | −34.8% |
| 3 years | +93.3% | +73.7% | +19.6 pp | −27.7% |
| 5 years | +120.4% | +61.7% | +58.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.1 bn | 2.2 bn | 2.3 bn | 2.3 bn | 2.2 bn | 2.4 bn | 2.7 bn | 2.5 bn |
| SG&A | 466.7 m | 480.9 m | 457.4 m | 473.9 m | 464.6 m | 510.2 m | 562.6 m | 550.1 m |
| Operating income | 181.3 m | 196.4 m | 206.7 m | 212.3 m | 206.5 m | 228.9 m | 272.2 m | 247.5 m |
| Depreciation & amortisation | 49.6 m | 55.0 m | -68.8 m | 54.3 m | 54.0 m | 58.8 m | -89.5 m | 79.3 m |
| Interest expense | 44.1 m | 45.1 m | 45.7 m | 46.2 m | 45.0 m | 52.3 m | 72.1 m | 73.2 m |
| Pre-tax income | 137.2 m | 151.3 m | 161.0 m | 166.1 m | 161.5 m | 176.6 m | 200.1 m | 174.3 m |
| Income tax | 27.3 m | 39.4 m | 3.1 m | 41.3 m | 37.7 m | 46.2 m | 43.4 m | 43.9 m |
| Net income | 109.9 m | 111.9 m | 157.9 m | 124.8 m | 123.9 m | 130.4 m | 156.8 m | 130.4 m |
| Diluted EPS | 4.88 | 5.00 | 7.14 ≈ | 5.63 | 5.59 | 5.88 | 7.05 ≈ | 5.84 |
| Operating cash flow | 126.0 m ≈ | 230.3 m ≈ | 156.0 m | 171.1 m | 154.2 m ≈ | 183.2 m ≈ | 378.3 m | 161.3 m |
| Capex | 9.9 m | 16.2 m | 28.0 m | 17.0 m | 16.0 m | 26.8 m | 46.8 m | 11.4 m |
| Share repurchases | 7.1 m ≈ | 153.6 m ≈ | 4.6 m | 4.1 m | 4.9 m ≈ | 3.7 m ≈ | 4.4 m | 4.4 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 40-quarter history (min 12.4, median 19.0, max 25.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.0 bn | 5.7 bn | 6.0 bn | 6.2 bn | 6.7 bn | 7.7 bn | 8.6 bn | 9.6 bn |
| Revenue YoY | +11.6% | +14.7% | +5.7% | +2.6% | +8.1% | +14.3% | +12.6% | +10.9% |
| Net income | 265.6 m | 321.5 m | 457.4 m | 366.8 m | 384.7 m | 419.9 m | 499.8 m | 535.8 m |
| Net income YoY | −11.8% | +21.0% | +42.3% | −19.8% | +4.9% | +9.1% | +19.0% | +7.2% |
| Diluted EPS | 10.46 | 12.61 | 18.30 | 15.49 | 16.43 | 18.60 | 22.32 | 24.16 |
| Diluted EPS YoY | −12.3% | +20.6% | +45.1% | −15.4% | +6.1% | +13.2% | +20.0% | +8.2% |
| net % | 5.3% | 5.6% | 7.6% | 5.9% | 5.7% | 5.5% | 5.8% | 5.6% |
| Free cash flow | 507.4 m | 446.4 m | 519.1 m | 671.0 m | 324.3 m | 433.6 m | 481.4 m | 780.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 191.8 m USD
- Financial debt
- 4.9 bn USD
- Net debt
- 4.7 bn USD
- Equity
- 4.5 bn USD
- Total assets
- 11.8 bn USD
- Debt / equity
- 1.10x
- Current ratio
- 1.48x
- ROE
- 12.8%
- ROA
- 5.2%
- FCF margin
- 8.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 6.0 bn | 6.2 bn | 6.7 bn | 7.7 bn | 8.6 bn | 9.6 bn | SEC (XBRL)· 06 Aug 2026verified |
| SG&A | 1.4 bn | 1.5 bn | 1.6 bn | 1.7 bn | 1.8 bn | 2.0 bn | SEC (XBRL)· 06 Aug 2026verified |
| Operating income | 539.5 m | 496.3 m | 567.5 m | 649.7 m | 764.2 m | 919.8 m | SEC (XBRL)· 06 Aug 2026verified |
| Depreciation & amortisation | 125.4 m | 134.7 m | 141.6 m | 68.4 m | 70.5 m | 77.6 m | SEC (XBRL)· 06 Aug 2026verified |
| EBITDA | 664.8 m ≈ | 631.0 m ≈ | 709.1 m ≈ | 718.1 m ≈ | 834.7 m ≈ | 997.4 m ≈ | SEC (XBRL)· 06 Aug 2026derived |
| Interest expense | 39.8 m | 41.8 m | 83.9 m | 105.1 m | 158.8 m | 215.5 m | SEC (XBRL)· 06 Aug 2026verified |
| Pre-tax income | 499.6 m | 454.6 m | 483.6 m | 544.6 m | 605.3 m | 704.4 m | SEC (XBRL)· 06 Aug 2026verified |
| Income tax | 42.2 m | 87.8 m | 98.9 m | 124.7 m | 105.5 m | 168.6 m | SEC (XBRL)· 06 Aug 2026verified |
| Net income | 457.4 m | 366.8 m | 384.7 m | 419.9 m | 499.8 m | 535.8 m | SEC (XBRL)· 06 Aug 2026verified |
| Diluted EPS | 18.30 | 15.49 | 16.43 | 18.60 | 22.32 | 24.16 | SEC (XBRL)· 06 Aug 2026verified |
| Weighted average diluted shares | 25.0 m | 23.7 m | 23.4 m | 22.6 m | 22.4 m | 22.2 m | SEC (XBRL)· 06 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 88.0 m | 114.8 m | 115.8 m | 134.0 m | 106.2 m | 191.8 m | SEC (XBRL)· 06 Aug 2026verified |
| Receivables | 879.9 m | 926.1 m | 894.9 m | 1.0 bn | 1.4 bn | 1.7 bn | SEC (XBRL)· 06 Aug 2026verified |
| Inventories | 79.7 m | 99.4 m | 130.6 m | 118.4 m | 129.1 m | 180.7 m | SEC (XBRL)· 06 Aug 2026verified |
| Current assets | 1.3 bn | 1.2 bn | 1.2 bn | 1.4 bn | 1.8 bn | 2.3 bn | SEC (XBRL)· 06 Aug 2026verified |
| Property, plant & equipment, net | 190.4 m | 205.6 m | 199.5 m | 195.4 m | 212.0 m | 397.2 m | SEC (XBRL)· 06 Aug 2026verified |
| Goodwill | 3.6 bn | 4.1 bn | 4.1 bn | 4.2 bn | 5.0 bn | 6.5 bn | SEC (XBRL)· 06 Aug 2026verified |
| Intangibles (excl. goodwill) | 476.1 m | 581.4 m | 507.8 m | 474.4 m | 1.1 bn | 2.1 bn | SEC (XBRL)· 06 Aug 2026verified |
| Total assets | 6.2 bn | 6.6 bn | 6.6 bn | 6.8 bn | 8.6 bn | 11.8 bn | SEC (XBRL)· 06 Aug 2026verified |
| Accounts payable | 148.6 m | 303.4 m | 198.2 m | 287.1 m | 381.6 m | 521.7 m | SEC (XBRL)· 06 Aug 2026verified |
| Short-term debt | 46.9 m | 30.6 m | 45.9 m | 61.3 m | 68.8 m | 46.8 m | SEC (XBRL)· 06 Aug 2026verified |
| Long-term debt | 1.7 bn | 1.7 bn | 1.7 bn | 1.5 bn | 2.8 bn | 4.9 bn | SEC (XBRL)· 06 Aug 2026verified |
| Current liabilities | 884.8 m | 1.0 bn | 994.0 m | 1.1 bn | 1.2 bn | 1.5 bn | SEC (XBRL)· 06 Aug 2026verified |
| Total liabilities | 3.5 bn | 3.6 bn | 3.4 bn | 3.3 bn | 4.8 bn | 7.4 bn | SEC (XBRL)· 06 Aug 2026verified |
| Equity | 2.7 bn | 3.1 bn | 3.2 bn | 3.5 bn | 3.9 bn | 4.5 bn | SEC (XBRL)· 06 Aug 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 592.2 m | 745.6 m | 388.1 m | 497.3 m | 547.0 m | 886.7 m | SEC (XBRL)· 06 Aug 2026verified |
| Capex | 73.1 m | 74.6 m | 63.7 m | 63.7 m | 65.6 m | 106.7 m | SEC (XBRL)· 06 Aug 2026verified |
| Free cash flow | 519.1 m ≈ | 671.0 m ≈ | 324.3 m ≈ | 433.6 m ≈ | 481.4 m ≈ | 780.1 m ≈ | SEC (XBRL)· 06 Aug 2026derived |
| Investing cash flow | -426.6 m | -689.1 m | -75.7 m | -152.0 m | -1.8 bn | -2.7 bn | SEC (XBRL)· 06 Aug 2026verified |
| Financing cash flow | -190.6 m | -21.2 m | -316.1 m | -326.9 m | 1.2 bn | 1.9 bn | SEC (XBRL)· 06 Aug 2026verified |
| Share repurchases | 509.1 m | 9.8 m | 273.2 m | 161.5 m | 168.6 m | 17.1 m | SEC (XBRL)· 06 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 54 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 14.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation70
- Balance sheet24
- Quality51
- Growth54
- Returns35
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 185.36 – 1,236.04 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)589.90 – 1,134.64 (Mid 789.47)WACC 8.1% · starting FCFF 960.2 m USD · terminal value share of EV 78%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 4.8%
- Peers: EV/Sales185.36 – 1,236.04 (Mid 308.81)13 companies used · median multiple 1.2x · quartiles 0.9x – 3.3xCREX, DAIC, FUSE, GDDY, HCTI, JKHY, KD, LDOS, OTEX, PSN, RBBN, SAIC, WAY
- Peers: EV/EBITDA335.50 – 489.50 (Mid 409.37)6 companies used · median multiple 12.9x · quartiles 11.4x – 14.6xASUR, GDDY, LDOS, PSN, SAIC, WAY
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 54/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | unavailable | unavailable | — |
| EBIT margin · Quality | 9.8% | 71 (vs peers) | 10% |
| FCF margin · Quality | 8.0% | 32 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 12.6% | 50 (on a fixed band) | 19% |
| Revenue growth (YoY) · Growth | 10.9% | 62 (vs peers) | 10% |
| Net debt / EBITDA · Balance sheet | 4.3x | 0 (vs peers) | 7% |
| Current ratio · Balance sheet | 1.6x | 48 (on a fixed band) | 7% |
| EV/Sales · Valuation | 1.9x | 47 (vs peers) | 19% |
| FCF yield · Valuation | 5.5% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 0.1% | 35 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet24/100 · 2/2 factors with a value
- Growth54/100 · 2/2 factors with a value
- Quality51/100 · 2/3 factors with a value
- Returns35/100 · 1/1 factors with a value
- Valuation70/100 · 2/2 factors with a value
Memo
CACI International Inc (CACI). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 9.6 bn USD in 2026; YoY growth 10.9%; net margin 5.5%; ROE 12.5%; net debt/EBITDA 4.3x.
The estimated value range is 335.50–1,134.64 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 409.37 USD, the price of 632.16 USD leaves a potential of -35.2% (value / price − 1) and a margin of safety of -54.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 54/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EBIT margin: 9.8%
- FCF yield: 5.5%
What contradicts it
- Net debt / EBITDA: 4.3x
Not assessed (insufficient data or a ratio without meaning): Gross margin.
Versus the vertical median
Services-Computer Integrated Systems Design (SIC 7373) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LDOSLeidos Holdings, Inc. | 16.4 bn | 12.1 | 28.2% | 8.0% | +3.1% | −30% / +26% |
| GDDYGoDaddy Inc. | 14.3 bn | 16.2 | — | 18.6% | +8.3% | −7% / +18% |
| CACICACI International Inc | 14.0 bn | 25.9 | 12.5% | 5.5% | +10.9% | +8% / +93% |
| JKHYJack Henry & Associates, Inc. | 12.6 bn | 25.7 | 24.0% | 19.8% | +7.1% | +3% / +13% |
| IONQIonQ, Inc. | 11.3 bn | — | -60.8% | -553.3% | +201.9% | −40% / +142% |
| OTEXOpen Text Corp | 6.4 bn | 10.3 | 16.2% | 12.3% | +1.5% | −21% / −34% |
| SAICScience Applications International Corporation | 6.3 bn | 17.6 | 25.7% | 5.1% | −2.9% | +75% / +28% |
| WAYWaystar Holding Corp. | 5.7 bn | 42.9 | 3.7% | 10.7% | +16.5% | −20% / unavailable |
| PSNParsons Corporation | 5.5 bn | 38.2 | 5.7% | 2.3% | −5.7% | −38% / −16% |
| KDKyndryl Holdings, Inc. | 3.7 bn | 46.2 | 7.6% | 0.6% | +0.2% | −35% / −7% |
| AGYSAgilysys, Inc. | 3.5 bn | 78.5 | 13.6% | 12.9% | +15.9% | −0% / +42% |
| NTCTNetscout Systems Inc | 2.8 bn | 23.3 | 7.5% | 13.7% | +4.5% | +42% / +90% |
| AURAurora Innovation, Inc. | 2.6 bn | — | -45.7% | -13,328.6% | unavailable | −3% / +86% |
| PONYPony AI Inc. | 2.1 bn | — | -10.3% | -148.9% | +20.0% | −65% / unavailable |
| OSPNOneSpan Inc. | 872.9 m | 13.2 | 26.8% | 27.5% | +0.0% | +94% / +136% |
| TLSTelos Corporation | 378.2 m | — | -14.9% | -8.1% | +52.2% | −12% / +23% |
| SLPSimulations Plus, Inc. | 374.2 m | 46.7 | 6.2% | 9.9% | +13.1% | unavailable / unavailable |
| SMRTSmartrent, Inc. | 310.4 m | — | -8.4% | -13.0% | −12.9% | −6% / −48% |
| ASURAsure Software, Inc. | 293.6 m | — | -1.9% | — | +24.3% | +22% / +22% |
| VEEAVeea Inc. | 281.2 m | — | — | -2,491.9% | +56.6% | −55% / −98% |
| RBBNRibbon Communications Inc. | 275.9 m | 22.5 | 5.0% | 2.3% | +1.3% | −46% / −28% |
| KDKKodiak AI, Inc. | 220.7 m | — | — | -4,259.6% | −74.6% | −82% / unavailable |
| UISUnisys Corp | 171.4 m | — | — | -21.7% | −2.9% | −12% / −51% |
| AIOSAIOS Tech Inc. | 138.9 m | — | -208.9% | -4,359.1% | −98.5% | −87% / −86% |
| MRLNMerlin, Inc. | 91.5 m | — | — | — | unavailable | −92% / unavailable |
1- and 3-year price returns: for CACI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 404.26 Total return -36% · Per year -36% | 712.13 Total return 13% · Per year 13% | 1,069.14 Total return 69% · Per year 69% |
| 3 years | 458.79 Total return -27% · Per year -10% | 902.83 Total return 43% · Per year 13% | 1,478.50 Total return 134% · Per year 33% |
| 5 years | 520.67 Total return -18% · Per year -4% | 1,144.60 Total return 81% · Per year 13% | 2,044.60 Total return 223% · Per year 26% |
- Exit P/E± 225.71
- Net margin± 157.99
- Annual revenue growth± 120.35
- Annual dilution± 13.28
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
CACI International is a technology-first national security company that delivers technology and expertise to U.S. defense, intelligence and civilian government agencies. With almost all revenue coming from the federal government, the company's results depend directly on public budgets and funding timing, which are currently uncertain.1
SWOT
Strengths
- The company holds a strong position in national security, with differentiated technology, investment in research and development and solid experience delivering programs for government customers.
- A large and growing backlog, combined with a book-to-bill ratio above one, provides visibility into future revenue.
- Long-standing customer relationships and the ability to win multi-year contracts support business stability.
Weaknesses
- Near-total dependence on federal government contracts exposes the company to budget decisions and funding interruptions it does not control.
- Many contracts carry cost-plus or fixed-price structures with cost overrun risk, and part of contract performance depends on subcontractors.
- Delays in collecting receivables and dependence on security clearances could affect cash flow and the ability to deliver new contracts.
Opportunities
- Rising investment in defense, space, the electromagnetic spectrum and cyber could expand the addressable market for the company's technology.
- Strategic acquisitions could add new capabilities and customer access points, as the company has done in recent years.
- Modernization projects in intelligence and defense systems could open long-term contracts.
Threats
- Government shutdowns, continuing resolutions and delays in budget approval could postpone contracts and reduce revenue over a short period.
- Larger competitors and non-traditional entrants could reduce the company's market share if it fails to win competitive contracts.
- If government spending in the company's areas were reduced, or funds redirected to other missions, demand for its services could fall.
Risks
- Dependence on the federal governmenthigh
Almost all revenue comes from federal contracts. A significant reduction or cessation of government business would materially affect results.1
- Funding interruptionshigh
Continuing resolutions, government shutdowns and delayed invoice payments can postpone projects and the collection of receivables.1
- Contract terminationmedium
The government may terminate contracts for convenience or for default, and the company may recover only incurred costs and profit on completed work.1
- Award protestsmedium
Competitor protests of major contract awards can delay the start of programs and may lead to lost contracts.1
- Security clearances and personnelmedium
A shortage of cleared personnel, or difficulty obtaining clearances, could limit the company's ability to deliver and win contracts.1
Investment thesis
What would need to be true (bull case)
- Growing backlog, a book-to-bill ratio above one and growth in funded backlog could support steady revenue growth if funding remains stable.
- Focus on space, cyber, the electromagnetic spectrum and AI aligns with sustained budget priorities and could open new contract opportunities.
- The raised fiscal 2027 revenue guidance suggests management sees favourable conditions if execution and awards continue at the current pace.
What would break the thesis
- Near-total dependence on the federal government means a prolonged budget interruption or a reallocation of spending could quickly affect revenue and cash flow.
- Organic growth in the first quarter of fiscal 2027 was lower than total growth, which could indicate reliance on acquisitions to sustain the pace of expansion.
- Competition from larger firms and new entrants, combined with award protests, could erode margins or market share over time.
What to watch
- New contract awards and the book-to-bill ratioQ2 2027
- Progress of the GFY27 budget process and the continuing resolutionDecember 2026
- Fiscal 2027 guidance for revenue and free cash flowfiscal 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
CACI, founded in 1962 as a simulation technology company, is a holding company whose operations are conducted through subsidiaries in the U.S. and Europe. It defines its offering through two components: Technology (agile software, AI-augmented data platforms, electromagnetic spectrum, space sensors) and Expertise (technical and functional talent supporting agency operations).1
Revenue is almost entirely federal: in fiscal 2026, federal government contracts accounted for 95.6% of total revenue, with the Department of War (DoW) and the Intelligence Community (IC) as the main customers. International Operations, concentrated in the U.K. and continental Europe, are small at 3.2% of revenue.1
At the end of fiscal 2026 the company employed about 27,000 people and total backlog was 32.0 billion USD. In the first quarter of fiscal 2027, contract awards totalled 4.8 billion USD and the book-to-bill ratio was 2.0x.13
Segments
Domestic Operations
The domestic segment provides solutions in C3I, cyber, digital solutions, enterprise IT, mission and engineering support, space, and spectrum superiority. It represented 96.8% of total revenue in fiscal 2026.1
International Operations
The international segment, headquartered in London through CACI Limited and CACI BV, provides IT consultancy services and proprietary data and software products to commercial and government customers in the U.K. and continental Europe. It represented 3.2% of revenue in fiscal 2026.1
Market context
The company believes its addressable market is sufficient for its plans and will continue to grow over the next several years, driven by geopolitical threats and defense and national security priorities. Revenue, however, depends on the near-term funding calendar: the GFY27 request proposes 1.15 trillion USD of discretionary defense spending, Congress is still evaluating it, and a continuing resolution was signed to fund government through December 11, 2026.12
Trends
- National security prioritiestailwind
Greater focus on cyber, space, the electromagnetic spectrum and homeland defense, including programs such as Golden Dome, could support demand for the company's technology.2
- AI and software investmenttailwind
Rising investment in advanced technologies, especially software and AI, matches the company's offering in AI-augmented data platforms and agile software.2
- Budget uncertainty and funding delaysheadwind
Continuing resolutions, government shutdowns and delayed annual budget approval could postpone new contracts and existing programs, and the duration of such disruptions is unpredictable.12
- Competition for contracts and talentmixed
Protests of awards, narrower bidding through multi-award vehicles and competition for cleared personnel could slow growth even if demand remains solid.12
Competitive position
The company operates in a highly competitive industry in which many rivals are larger and have greater financial resources. Much business is won through proposals against other firms, and non-traditional players have entered areas such as cloud, cyber and satellite operations. The company acknowledges that it holds a relatively small share of its addressable market and pursues organic growth and acquisitions.1
Competition also includes government agencies that perform similar services for themselves, an indirect form of rivalry. The company knows of no single dominant competitor in its fields of technology.1
- Booz Allen HamiltonBAH
Consulting and technology firm serving the U.S. government, cited here as an example of a rival in defense and intelligence services, in general market context.
- LeidosLDOS
Systems integrator and services provider for federal agencies, comparable in customers and contract types.
- SAICSAIC
Technology services provider to federal defense and civilian agencies, present in the same bidding processes.
- Non-traditional cloud and cyber companies
Newer entrants with positions in cloud, cyber, satellite operations and business systems, which the company cites as a shift in competition.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Concerns Over Defense Spending Weighed on CACI International Inc (CACI)Yahoo Finance — News · 04 Sept 2026 · EN
- Parteneriat cu miză strategică: STARC4SYS și CACI International pentru viitoarele programe EWLibertatea.ro · 15 May 2026 · RO
The latest news item in our archive is from 04 Sept 2026; the newest SEC filing is from 22 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report22 Oct 2026
- Current report21 Oct 2026Results of operations · Financial statements and exhibits
- Current report21 Oct 2026Amendments to articles or bylaws · Financial statements and exhibits
- Current report21 Oct 2026Shareholder vote
- Proxy statement04 Sept 2026
- Annual report06 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report22 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report05 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report23 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / CACI International Inc · 06 Aug 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / CACI International Inc · 22 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / CACI International Inc · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.