Document
Exhibit 99.1
CACI Reports Results for Its Fiscal 2025 Fourth Quarter and
Full Year and Issues Fiscal Year 2026 Guidance
Annual revenues of $8.6 billion, up 13% YoY
Annual net income of $499.8 million; Diluted EPS of $22.32, up 20% YoY
Annual adjusted net income of $593.0 million; Adjusted diluted EPS of $26.48, up 26% YoY
Annual EBITDA of $966.8 million and EBITDA margin of 11.2%
Annual contract awards of $9.6 billion and book-to-bill of 1.1x
Company expects strong cash flow in Fiscal Year 2026, driven by revenue growth, strong margins, and
efficient working capital management
RESTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced results today for its fiscal fourth quarter and full year ended June 30, 2025, and issued guidance for fiscal year 2026.
“CACI’s exceptional performance to close out fiscal year 2025 highlights not only the strength of our business, but also its resilience. In FY25’s uncertain environment, we validated and underscored our differentiation in the industry and delivered double-digit growth, met our margin and cash flow expectations, and won $10 billion of contract awards,” said John Mengucci, CACI President and Chief Executive Officer. “We also deployed capital in a flexible and opportunistic manner, acquiring strategic assets as well as completing $150 million of share repurchases. With more than $31 billion of backlog and continued healthy pipeline metrics, CACI remains extremely well positioned to deliver strong financial performance again in FY26, achieve our 3-year financial targets, and generate value for our customers and our shareholders.”
Fourth Quarter Results
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Three Months Ended |
| (in millions, except earnings per share and DSO) |
6/30/2025 |
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6/30/2024 |
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% Change |
| Revenues |
$ |
2,304.1 |
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$ |
2,038.3 |
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13.0% |
| Income from operations |
$ |
206.7 |
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$ |
197.8 |
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4.5% |
| Net income |
$ |
157.9 |
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$ |
134.7 |
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17.2% |
Adjusted net income, a non-GAAP measure1 |
$ |
185.8 |
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$ |
148.7 |
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24.9% |
| Diluted earnings per share |
$ |
7.14 |
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$ |
5.98 |
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19.4% |
Adjusted diluted earnings per share, a non-GAAP measure1 |
$ |
8.40 |
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$ |
6.61 |
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27.1% |
Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure1 |
$ |
264.5 |
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$ |
234.9 |
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12.6% |
Net cash provided by operating activities excluding MARPA1 |
$ |
167.1 |
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$ |
157.2 |
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6.3% |
Free cash flow, a non-GAAP measure1 |
$ |
139.1 |
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$ |
134.6 |
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3.3% |
Days sales outstanding (DSO)2 |
56 |
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46 |
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(1)This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
(2)The DSO calculations for three months ended June 30, 2025 and 2024 exclude the impact of the Company's Master Accounts Receivable Purchase Agreement (MARPA), which was a reduction of 8 days and 6 days, respectively.
Revenues in the fourth quarter of fiscal year 2025 increased 13.0 percent year-over-year, driven by 5.3 percent organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share were driven by higher income from operations, a lower tax provision, and share repurchases earlier in the year, partially offset by higher interest expense. The increase in cash from operations, excluding MARPA, was driven primarily by higher net income and strong working capital management. Free cash flow in the fourth quarter of fiscal year 2025 does not include the previously expected $40 million cash tax refund related to our method change, which we now expect to receive in fiscal year 2026.
Fourth Quarter Contract Awards
Contract awards in the fourth quarter totaled $2.6 billion, with over 40 percent for new business to CACI. Awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity (IDIQ) contracts. Some notable awards during the quarter were:
•CACI was awarded a five-year contract valued at up to $855 million to strengthen readiness and improve efficiencies for the U.S. Army Intelligence and Security Command’s (INSCOM) military intelligence operations. CACI will provide comprehensive, operationally vital support to INSCOM by assisting the Army with managing its mission systems and infrastructure globally.
•CACI was awarded a seven-year task order valued at up to $616 million to support an intelligence community customer. This new award strengthens CACI’s footprint and significantly enhances the company’s ability to deliver capabilities at scale for this classified customer.
•CACI was awarded a seven-year task order worth an estimated $437 million to support U.S. Africa Command’s (USAFRICOM) mission. CACI will continue to assist USAFRICOM in countering emerging threats, strengthening regional partnerships, and driving efficiency and operational excellence.
•CACI was awarded a five-year contract valued at up to $85 million to maintain robust, secure, and efficient financial management systems for the Office of the Under Secretary of Defense Comptroller (OUSD(C)), which are vital to managing and executing the DoD’s budget. CACI’s technology will empower OUSD’s mission of ensuring that the U.S. military has the resources needed to protect and defend the nation, its interests, and its people.
•CACI was awarded a three-year task order valued at up to $62 million to maintain continuous operational readiness and sustainment lifecycle support of security systems for the U.S. Air Force Materiel Command (AFMC). CACI will work with AFMC to not only improve operational efficiency and response times but also safeguard our nation’s warfighters and assets across the globe.
Total backlog as of June 30, 2025 was $31.4 billion compared with $31.6 billion a year ago, a decrease of less than 1 percent. Funded backlog as of June 30, 2025 was $4.2 billion compared with $3.8 billion a year ago, an increase of 11 percent.
Additional Highlights
•CACI was named a 2025 Fortune 500™ company. The Fortune 500 is an annual list of the largest corporations in the United States and CACI was ranked based on its impressive 2024 fiscal year (FY24) results.
•CACI has advanced to Phase 2 of the U.S. Space Force's Enterprise Space Terminal (EST) program. This $100 million initiative aims to develop cutting-edge laser-based space communication terminals, establishing powerful, standardized optical communications systems for military satellites. As one of the three companies selected to continue work on this prestigious program, CACI is at the forefront of creating a unified network that will link satellites across multiple orbits, revolutionizing military communications.
•President and Chief Executive Officer, John Mengucci, was named Public Company Executive of the Year by the Association of Corporate Growth (ACG) National Capital chapter. Mengucci was recognized as an industry leader and the chief architect of CACI’s successful market-aligned business strategy designed to propel the company’s growth and drive both innovation and differentiation. The recognition was awarded at a gala on June 5, 2025, in McLean, Virginia, and is based on his career achievements and growth results in calendar year 2024.
•CACI announced on July 15, 2025, that its board of directors elected Lisa S. Disbrow as Chair of the CACI Board of Directors. Disbrow, a director since 2021, will support President and Chief Executive Officer John Mengucci as he leads and executes the ongoing growth strategy of the company.
Fiscal Year Results
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Twelve Months Ended |
| (in millions, except earnings per share) |
6/30/2025 |
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6/30/2024 |
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% Change |
| Revenues |
$ |
8,627.8 |
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$ |
7,659.8 |
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12.6% |
| Income from operations |
$ |
764.2 |
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$ |
649.7 |
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17.6% |
| Net income |
$ |
499.8 |
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$ |
419.9 |
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19.0% |
Adjusted net income, a non-GAAP measure1 |
$ |
593.0 |
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$ |
475.1 |
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24.8% |
| Diluted earnings per share |
$ |
22.32 |
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$ |
18.60 |
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20.0% |
Adjusted diluted earnings per share, a non-GAAP measure1 |
$ |
26.48 |
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$ |
21.05 |
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25.8% |
Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure1 |
$ |
966.8 |
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$ |
798.0 |
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21.2% |
Net cash provided by operating activities excluding MARPA1 |
$ |
508.1 |
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$ |
447.3 |
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13.6% |
Free cash flow, a non-GAAP measure1 |
$ |
442.5 |
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$ |
383.6 |
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15.3% |
(1)This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
Revenues in fiscal year 2025 increased 12.6 percent year-over-year, driven by 7.2 percent organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share were driven by higher income from operations, a lower tax provision, and share repurchases, partially offset by higher interest expense. The increase in cash from operations, excluding MARPA, was driven by higher net income, lower tax payments under the Tax Cuts and Jobs Act of 2017, and strong working capital management.
Fiscal Year 2026 Guidance
The table below summarizes our fiscal year 2026 guidance and represents our views as of August 6, 2025.
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| (in millions, except earnings per share) |
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Fiscal Year 2026 Guidance |
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| Revenues |
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$9,200 - $9,400 |
Adjusted net income, a non-GAAP measure1 |
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$605 - $625 |
Adjusted diluted earnings per share, a non-GAAP measure1 |
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$27.13 - $28.03 |
| Diluted weighted average shares |
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22.3 |
Free cash flow, a non-GAAP measure2 |
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at least $710 |
(1)Adjusted net income and adjusted diluted earnings per share are defined as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact. This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
(2)Free cash flow is defined as net cash provided by operating activities excluding MARPA, less payments for capital expenditures (capex). This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. Fiscal year 2026 free cash flow guidance assumes approximately $50 million in tax benefit related to the modification of Section 174 in the One Big Beautiful Bill Act of 2025 and an approximately $40 million cash tax refund related to our method change enacted in fiscal year 2021. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
Conference Call Information
We have scheduled a conference call for 8:00 AM Eastern Time Thursday, August 7, 2025 during which members of our senior management will be making a brief presentation focusing on fourth quarter and full year results and operating trends, followed by a question-and-answer session. You can listen to the webcast and view the accompanying exhibits on CACI’s investor relations website at http://investor.caci.com/events/default.aspx at the scheduled time. A replay of the call will also be available on CACI’s investor relations website at http://investor.caci.com/.
About CACI
At CACI International Inc (NYSE: CACI), our 25,000 talented and dynamic employees are ever vigilant in delivering distinctive expertise and technology to meet our customers’ greatest challenges in national security. We are a company of good character, relentless innovation, and long-standing excellence. Our culture drives our success and earns us recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 500™ Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit us at www.caci.com.
There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic; changes in tax law, the interpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recent and any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; and other risks described in our Securities and Exchange Commission filings.
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Corporate Communications and Media: |
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Investor Relations: |
Lorraine Corcoran, Executive Vice President, Corporate Communications |
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George Price, Senior Vice President, Investor Relations |
(703) 434-4165, lorraine.corcoran@caci.com |
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(703) 841-7818, george.price@caci.com |
CACI International Inc
Consolidated Statements of Operations (Unaudited)
(in thousands, except per share data)
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Three Months Ended |
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Twelve Months Ended |
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6/30/2025 |
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6/30/2024 |
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% Change |
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6/30/2025 |
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6/30/2024 |
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% Change |
| Revenues |
$ |
2,304,144 |
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$ |
2,038,295 |
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13.0% |
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$ |
8,627,824 |
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$ |
7,659,832 |
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12.6% |
| Costs of revenues: |
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| Direct costs |
1,584,174 |
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1,328,468 |
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19.2% |
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5,835,558 |
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5,147,540 |
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13.4% |
| Indirect costs and selling expenses |
457,432 |
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476,317 |
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(4.0)% |
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1,832,956 |
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1,720,439 |
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6.5% |
| Depreciation and amortization |
55,861 |
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35,760 |
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56.2% |
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195,125 |
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142,145 |
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37.3% |
| Total costs of revenues |
2,097,467 |
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1,840,545 |
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14.0% |
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7,863,639 |
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7,010,124 |
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12.2% |
| Income from operations |
206,677 |
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197,750 |
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4.5% |
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764,185 |
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649,708 |
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17.6% |
| Interest expense and other, net |
45,691 |
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24,301 |
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88.0% |
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158,844 |
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105,059 |
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51.2% |
| Income before income taxes |
160,986 |
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173,449 |
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(7.2)% |
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605,341 |
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544,649 |
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11.1% |
| Income taxes |
3,131 |
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38,792 |
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(91.9)% |
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105,511 |
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124,725 |
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(15.4)% |
| Net income |
$ |
157,855 |
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$ |
134,657 |
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17.2% |
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$ |
499,830 |
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$ |
419,924 |
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19.0% |
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| Basic earnings per share |
$ |
7.18 |
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$ |
6.04 |
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18.9% |
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$ |
22.47 |
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$ |
18.76 |
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19.8% |
| Diluted earnings per share |
$ |
7.14 |
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$ |
5.98 |
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19.4% |
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$ |
22.32 |
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$ |
18.60 |
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20.0% |
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| Weighted average shares used in per share computations: |
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| Weighted average basic shares outstanding |
21,992 |
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22,300 |
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(1.4)% |
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22,247 |
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22,381 |
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(0.6)% |
| Weighted average diluted shares outstanding |
22,115 |
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22,510 |
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(1.8)% |
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22,393 |
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22,573 |
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(0.8)% |
CACI International Inc
Consolidated Balance Sheets (Unaudited)
(in thousands)
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6/30/2025 |
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6/30/2024 |
| ASSETS |
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| Current assets: |
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| Cash and cash equivalents |
$ |
106,181 |
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$ |
133,961 |
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| Accounts receivable, net |
1,405,441 |
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1,031,311 |
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| Prepaid expenses and other current assets |
268,323 |
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209,257 |
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| Total current assets |
1,779,945 |
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1,374,529 |
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| Goodwill |
5,021,805 |
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4,154,844 |
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| Intangible assets, net |
1,091,276 |
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474,354 |
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| Property, plant and equipment, net |
212,035 |
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195,443 |
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| Operating lease right-of-use assets |
343,944 |
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305,637 |
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| Supplemental retirement savings plan assets |
101,024 |
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99,339 |
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| Accounts receivable, long-term |
14,694 |
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13,311 |
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| Other long-term assets |
82,875 |
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178,644 |
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| Total assets |
$ |
8,647,598 |
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$ |
6,796,101 |
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| LIABILITIES AND SHAREHOLDERS' EQUITY |
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| Current liabilities: |
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| Current portion of long-term debt |
$ |
68,750 |
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$ |
61,250 |
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| Accounts payable |
381,574 |
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287,142 |
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| Accrued compensation and benefits |
282,987 |
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316,514 |
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| Other accrued expenses and current liabilities |
474,795 |
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413,354 |
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| Total current liabilities |
1,208,106 |
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1,078,260 |
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| Long-term debt, net of current portion |
2,849,190 |
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1,481,387 |
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| Supplemental retirement savings plan obligations, net of current portion |
114,261 |
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111,208 |
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| Deferred income taxes |
142,636 |
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169,808 |
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| Operating lease liabilities, noncurrent |
377,080 |
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325,046 |
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| Other long-term liabilities |
62,380 |
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112,185 |
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| Total liabilities |
4,753,653 |
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3,277,894 |
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| Total shareholders' equity |
3,893,945 |
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3,518,207 |
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| Total liabilities and shareholders' equity |
$ |
8,647,598 |
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$ |
6,796,101 |
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CACI International Inc
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
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Twelve Months Ended |
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6/30/2025 |
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6/30/2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
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| Net income |
$ |
499,830 |
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$ |
419,924 |
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| Adjustments to reconcile net income to net cash provided by operating activities: |
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| Depreciation and amortization |
195,125 |
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142,145 |
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| Amortization of deferred financing costs |
3,031 |
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2,194 |
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| Stock-based compensation expense |
60,177 |
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53,904 |
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| Deferred income taxes |
(27,060) |
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(49,763) |
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| Changes in operating assets and liabilities, net of effect of business acquisitions: |
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| Accounts receivable, net |
(269,215) |
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(127,878) |
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| Prepaid expenses and other assets |
24,187 |
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580 |
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| Accounts payable and other accrued expenses |
125,914 |
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125,173 |
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| Accrued compensation and benefits |
(49,005) |
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(58,352) |
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| Income taxes |
(4,862) |
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(27,227) |
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| Operating lease liabilities |
(6,015) |
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(6,007) |
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| Long-term liabilities |
(5,098) |
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22,638 |
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| Net cash provided by operating activities |
547,009 |
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497,331 |
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| CASH FLOWS FROM INVESTING ACTIVITIES |
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| Capital expenditures |
(65,603) |
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(63,686) |
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| Acquisitions of businesses, net of cash acquired |
(1,695,749) |
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(90,240) |
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| Other |
2,409 |
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1,974 |
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| Net cash used in investing activities |
(1,758,943) |
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(151,952) |
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| CASH FLOWS FROM FINANCING ACTIVITIES |
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| Proceeds from borrowings |
8,209,000 |
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3,102,000 |
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| Principal payments on borrowings |
(6,816,023) |
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(3,257,938) |
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| Deferred financing costs |
(22,227) |
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— |
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| Proceeds from employee stock purchase plans |
13,697 |
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11,290 |
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| Repurchases of common stock |
(168,563) |
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(161,487) |
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| Payment of taxes for equity transactions |
(38,003) |
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(20,760) |
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| Net cash provided by (used in) financing activities |
1,177,881 |
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(326,895) |
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| Effect of exchange rate changes on cash and cash equivalents |
6,273 |
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(299) |
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| Net change in cash and cash equivalents |
(27,780) |
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|
18,185 |
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| Cash and cash equivalents, beginning of year |
133,961 |
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|
115,776 |
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| Cash and cash equivalents, end of year |
$ |
106,181 |
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$ |
133,961 |
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Revenues by Customer Group (Unaudited)
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|
Three Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Department of Defense |
$ |
1,742,256 |
|
|
75.6% |
|
$ |
1,532,329 |
|
|
75.2% |
|
$ |
209,927 |
|
|
13.7% |
| Federal Civilian agencies |
447,458 |
|
|
19.4% |
|
409,762 |
|
|
20.1% |
|
37,696 |
|
|
9.2% |
| Commercial and other |
114,430 |
|
|
5.0% |
|
96,204 |
|
|
4.7% |
|
18,226 |
|
|
18.9% |
| Total |
$ |
2,304,144 |
|
|
100.0% |
|
$ |
2,038,295 |
|
|
100.0% |
|
$ |
265,849 |
|
|
13.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Department of Defense |
$ |
6,507,728 |
|
|
75.4% |
|
$ |
5,695,408 |
|
|
74.4% |
|
$ |
812,320 |
|
|
14.3% |
| Federal Civilian agencies |
1,751,973 |
|
|
20.3% |
|
1,588,262 |
|
|
20.7% |
|
163,711 |
|
|
10.3% |
| Commercial and other |
368,123 |
|
|
4.3% |
|
376,162 |
|
|
4.9% |
|
(8,039) |
|
|
(2.1)% |
| Total |
$ |
8,627,824 |
|
|
100.0% |
|
$ |
7,659,832 |
|
|
100.0% |
|
$ |
967,992 |
|
|
12.6% |
Revenues by Contract Type (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Cost-plus-fee |
$ |
1,383,983 |
|
|
60.1% |
|
$ |
1,243,561 |
|
|
61.0% |
|
$ |
140,422 |
|
|
11.3% |
| Fixed-price |
620,023 |
|
|
26.9% |
|
548,571 |
|
|
26.9% |
|
71,452 |
|
|
13.0% |
| Time-and-materials |
300,138 |
|
|
13.0% |
|
246,163 |
|
|
12.1% |
|
53,975 |
|
|
21.9% |
| Total |
$ |
2,304,144 |
|
|
100.0% |
|
$ |
2,038,295 |
|
|
100.0% |
|
$ |
265,849 |
|
|
13.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Cost-plus-fee |
$ |
5,221,011 |
|
|
60.5% |
|
$ |
4,654,689 |
|
|
60.8% |
|
$ |
566,322 |
|
|
12.2% |
| Fixed-price |
2,271,602 |
|
|
26.3% |
|
2,091,179 |
|
|
27.3% |
|
180,423 |
|
|
8.6% |
| Time-and-materials |
1,135,211 |
|
|
13.2% |
|
913,964 |
|
|
11.9% |
|
221,247 |
|
|
24.2% |
| Total |
$ |
8,627,824 |
|
|
100.0% |
|
$ |
7,659,832 |
|
|
100.0% |
|
$ |
967,992 |
|
|
12.6% |
Revenues by Prime or Subcontractor (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Prime contractor |
$ |
2,085,638 |
|
|
90.5% |
|
$ |
1,822,333 |
|
|
89.4% |
|
$ |
263,305 |
|
|
14.4% |
| Subcontractor |
218,506 |
|
|
9.5% |
|
215,962 |
|
|
10.6% |
|
2,544 |
|
|
1.2% |
| Total |
$ |
2,304,144 |
|
|
100.0% |
|
$ |
2,038,295 |
|
|
100.0% |
|
$ |
265,849 |
|
|
13.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Prime contractor |
$ |
7,783,908 |
|
|
90.2% |
|
$ |
6,849,849 |
|
|
89.4% |
|
$ |
934,059 |
|
|
13.6% |
| Subcontractor |
843,916 |
|
|
9.8% |
|
809,983 |
|
|
10.6% |
|
33,933 |
|
|
4.2% |
| Total |
$ |
8,627,824 |
|
|
100.0% |
|
$ |
7,659,832 |
|
|
100.0% |
|
$ |
967,992 |
|
|
12.6% |
Revenues by Expertise or Technology (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Expertise |
$ |
962,639 |
|
|
41.8% |
|
$ |
912,399 |
|
|
44.8% |
|
$ |
50,240 |
|
|
5.5% |
| Technology |
1,341,505 |
|
|
58.2% |
|
1,125,896 |
|
|
55.2% |
|
215,609 |
|
|
19.1% |
| Total |
$ |
2,304,144 |
|
|
100.0% |
|
$ |
2,038,295 |
|
|
100.0% |
|
$ |
265,849 |
|
|
13.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Expertise |
$ |
3,849,841 |
|
|
44.6% |
|
$ |
3,556,989 |
|
|
46.4% |
|
$ |
292,852 |
|
|
8.2% |
| Technology |
4,777,983 |
|
|
55.4% |
|
4,102,843 |
|
|
53.6% |
|
675,140 |
|
|
16.5% |
| Total |
$ |
8,627,824 |
|
|
100.0% |
|
$ |
7,659,832 |
|
|
100.0% |
|
$ |
967,992 |
|
|
12.6% |
Contract Awards (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Contract Awards |
$ |
2,637,341 |
|
|
$ |
5,420,636 |
|
|
$ |
(2,783,295) |
|
|
(51.3)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended |
| (in thousands) |
6/30/2025 |
|
6/30/2024 |
|
$ Change |
|
% Change |
| Contract Awards |
$ |
9,642,184 |
|
|
$ |
14,192,908 |
|
|
$ |
(4,550,724) |
|
|
(32.1)% |
Reconciliation of Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS (Unaudited)
Adjusted net income and Adjusted diluted EPS are non-GAAP performance measures. We define Adjusted net income and Adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do not consider intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands, except per share data) |
Three Months Ended |
|
Twelve Months Ended |
|
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
|
Net income, as reported |
$ |
157,855 |
|
|
$ |
134,657 |
|
|
17.2% |
|
$ |
499,830 |
|
|
$ |
419,924 |
|
|
19.0% |
|
|
Intangible amortization expense |
37,405 |
|
|
18,626 |
|
|
100.8% |
|
124,618 |
|
|
73,776 |
|
|
68.9% |
|
|
Tax effect of intangible amortization1 |
(9,451) |
|
|
(4,575) |
|
|
106.6% |
|
(31,486) |
|
|
(18,640) |
|
|
68.9% |
|
|
Adjusted net income |
$ |
185,809 |
|
|
$ |
148,708 |
|
|
24.9% |
|
$ |
592,962 |
|
|
$ |
475,060 |
|
|
24.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Twelve Months Ended |
|
|
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
|
Diluted EPS, as reported |
$ |
7.14 |
|
|
$ |
5.98 |
|
|
19.4% |
|
$ |
22.32 |
|
|
$ |
18.60 |
|
|
20.0% |
|
|
Intangible amortization expense |
1.69 |
|
|
0.83 |
|
|
103.6% |
|
5.57 |
|
|
3.27 |
|
|
70.3% |
|
|
Tax effect of intangible amortization1 |
(0.43) |
|
|
(0.20) |
|
|
115.0% |
|
(1.41) |
|
|
(0.82) |
|
|
72.0% |
|
|
Adjusted diluted EPS |
$ |
8.40 |
|
|
$ |
6.61 |
|
|
27.1% |
|
$ |
26.48 |
|
|
$ |
21.05 |
|
|
25.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FY26 Current Guidance Range |
|
|
(in millions, except per share data) |
|
|
|
|
|
|
Low End |
|
|
|
High End |
|
|
Net income, as reported |
|
|
|
|
|
|
$ |
499 |
|
|
--- |
|
$ |
519 |
|
|
|
Intangible amortization expense |
|
|
|
|
|
|
142 |
|
|
--- |
|
142 |
|
|
|
Tax effect of intangible amortization1 |
|
|
|
|
|
|
(36) |
|
|
--- |
|
(36) |
|
|
|
Adjusted net income |
|
|
|
|
|
|
$ |
605 |
|
|
--- |
|
$ |
625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FY26 Current Guidance Range |
|
|
|
|
|
|
|
|
|
Low End |
|
|
|
High End |
|
|
Diluted EPS, as reported |
|
|
|
|
|
|
$ |
22.38 |
|
|
--- |
|
$ |
23.27 |
|
|
|
Intangible amortization expense |
|
|
|
|
|
|
6.37 |
|
|
--- |
|
6.37 |
|
|
|
Tax effect of intangible amortization1 |
|
|
|
|
|
|
(1.61) |
|
|
--- |
|
(1.61) |
|
|
|
Adjusted diluted EPS |
|
|
|
|
|
|
$ |
27.13 |
|
|
--- |
|
$ |
28.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Calculation uses an assumed full year statutory tax rate of 25.3% on non-GAAP tax deductible adjustments for June 30, 2025 and 2024.
Note: Numbers may not sum due to rounding.
Reconciliation of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Unaudited)
The Company views EBITDA and EBITDA margin, both of which are defined as non-GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortization expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets, amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating performance. EBITDA margin is EBITDA divided by revenue. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Twelve Months Ended |
|
|
(in thousands) |
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
|
Net income |
$ |
157,855 |
|
|
$ |
134,657 |
|
|
17.2% |
|
$ |
499,830 |
|
|
$ |
419,924 |
|
|
19.0% |
|
|
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes |
3,131 |
|
|
38,792 |
|
|
(91.9)% |
|
105,511 |
|
|
124,725 |
|
|
(15.4)% |
|
|
Interest income and expense, net |
45,691 |
|
|
24,301 |
|
|
88.0% |
|
158,844 |
|
|
105,059 |
|
|
51.2% |
|
|
Depreciation and amortization expense, including amounts within direct costs |
57,861 |
|
|
37,125 |
|
|
55.9% |
|
202,611 |
|
|
148,293 |
|
|
36.6% |
|
|
EBITDA |
$ |
264,538 |
|
|
$ |
234,875 |
|
|
12.6% |
|
$ |
966,796 |
|
|
$ |
798,001 |
|
|
21.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Twelve Months Ended |
|
|
(in thousands) |
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
6/30/2025 |
|
6/30/2024 |
|
% Change |
|
|
Revenues, as reported |
$ |
2,304,144 |
|
|
$ |
2,038,295 |
|
|
13.0% |
|
$ |
8,627,824 |
|
|
$ |
7,659,832 |
|
|
12.6% |
|
|
EBITDA |
264,538 |
|
|
234,875 |
|
|
12.6% |
|
966,796 |
|
|
798,001 |
|
|
21.2% |
|
|
EBITDA margin |
11.5% |
|
11.5% |
|
|
|
11.2% |
|
10.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA and to Free Cash Flow (Unaudited)
The Company defines Net cash provided by operating activities excluding MARPA, a non-GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI’s Master Accounts Receivable Purchase Agreement (MARPA) for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $300.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines Free cash flow as Net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non-GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Twelve Months Ended |
|
|
(in thousands) |
6/30/2025 |
|
6/30/2024 |
|
6/30/2025 |
|
6/30/2024 |
|
|
Net cash provided by operating activities |
$ |
155,982 |
|
|
$ |
157,208 |
|
|
$ |
547,009 |
|
|
$ |
497,331 |
|
|
|
Cash used in (provided by) MARPA |
11,091 |
|
|
— |
|
|
(38,909) |
|
|
(50,000) |
|
|
|
Net cash provided by operating activities excluding MARPA |
167,073 |
|
|
157,208 |
|
|
508,100 |
|
|
447,331 |
|
|
|
Capital expenditures |
(27,963) |
|
|
(22,595) |
|
|
(65,603) |
|
|
(63,686) |
|
|
|
Free cash flow |
$ |
139,110 |
|
|
$ |
134,613 |
|
|
$ |
442,497 |
|
|
$ |
383,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
|
|
|
FY26 Current Guidance |
|
|
|
|
Net cash provided by operating activities |
|
|
|
|
$ |
795 |
|
|
|
|
|
Cash used in (provided by) MARPA |
|
|
|
|
— |
|
|
|
|
|
Net cash provided by operating activities excluding MARPA |
|
|
|
|
795 |
|
|
|
|
|
Capital expenditures |
|
|
|
|
(85) |
|
|
|
|
|
Free cash flow |
|
|
|
|
$ |
710 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
エドガーで原本を確認する