Science Applications Intl

SAIC · Nasdaq · Industrials · Financials, fiscal 2017 to 2026

SAIC · Last close · October 26, 2026

$148.51

Value Science Applications Intl yourself

Science Applications Intl's revenue fell 2.9% to $7.3 billion in fiscal 2026. Its operating margin was 7.2%, down from 7.5% a year earlier. Free cash flow was $577 million, up 26.0%. It paid out $515 million in dividends and buybacks, 89% of free cash flow. The diluted share count fell 7.9%.

Science Applications International Corporation Latest fiscal year ended January 30, 2026 10-K filed March 16, 2026 · 0001571123-26-000029 Updated October 18, 2026

Revenue

$7.3B

2.9%

Operating margin

7.2%

0.4 pts

Net income

$358M

1.1%

Free cash flow

$577M

26.0%

Return on capital

12.8%

0.1 pts

Market cap

$6.4B

Oct 26 close

P/E

17.3x

On $8.56 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

Revenue and margins

Revenue

US$ billions, fiscal years

Margins

Percent of revenue

GrossOperatingNetFree cash flow

Net income and earnings per share

From fiscal 2017 to 2026, earnings per share grew 10.6% a year and net income 10.7% a year, as new shares raised the share count by 1% and diluted each share's earnings.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Cash flow

Free cash flow

US$ billions. Cash from operations minus capital expenditure; negative years in red.

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Valuation

Two ways to value Science Applications Intl yourself, both starting from its filings: a discounted cash flow model and the price-to-earnings method.

Discounted cash flow (DCF)

A discounted cash flow (DCF) model values a business as the cash it may generate in future, discounted back to today. The starting figures come from Science Applications Intl's 10-K (or, for net cash and shares, its latest 10-Q) and the assumptions are yours: start from one of three example scenarios, then change any figure to see what it implies for a share, and how that compares with the last share price.

Value per share on three example scenarios, from Science Applications Intl's fiscal 2026 free cash flow of $577M, net cash of −$2.3B at January 30, 2026 and 46 million diluted shares, from its filings. The scenarios are fitted to Science Applications Intl: the base scenario's growth in years 1 to 5 is its revenue growth over the last 3 years, -2.0% a year, kept between 0% and 20%; the cautious and optimistic ones are lower and higher, and growth in years 6 to 10 is halfway to the long-run rate. The base scenario's discount rate is 11%: 9% for a business of moderate risk (Diversified Support Services), plus 1 point as a smaller company, worth $6.4B, plus 1 point for unsteady results (revenue fell in two of the last five years); the cautious and optimistic ones use a point more and a point less. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

From the filings

Starting free cash flow, US$ millions

Cash from operations minus capital spending in fiscal 2026.

Net cash, US$ millions

Cash and short-term investments minus debt and finance leases at January 30, 2026. Negative means net debt.

Diluted shares, millions

Weighted-average diluted shares in fiscal 2026.

Your assumptions

Start from

Fitted to Science Applications Intl's own revenue growth, as above. Cautious: growth of -2% then 0% a year, 2% after year 10, a 12% discount rate. Base: growth of 0% then 1% a year, 2.5% after year 10, a 11% discount rate. Optimistic: growth of 2% then 2.5% a year, 3% after year 10, a 10% discount rate.

Free cash flow growth, years 1 to 5 (% a year)

Free cash flow growth, years 6 to 10 (% a year)

Growth after year 10 (% a year)Long-run growth forever after year 10. Usually close to inflation, and always below the discount rate.

Discount rate (% a year)The yearly return an investor wants for the risk. A higher rate gives a lower value.

Value per share on these assumptions

—

Last close, October 26, 2026: $148.51
Value on these assumptions, against the last close: —

Cash flows in years 1 to 10, valued today: —
Everything after year 10, valued today: —
Plus net cash: —
Share of value from after year 10: —

Projected free cash flow

US$ billions. Each column is one year's projected free cash flow, split into what it is worth today and the part removed by discounting.

Value todayRemoved by discounting

How the value changes with two assumptions

Value per share in US$, with the growth rates above. The highlighted cell matches the current assumptions.

How the model works. Free cash flow grows at the first rate for five years and the second rate for five more, and each year is discounted at the discount rate. Everything after year 10 is valued as year-10 cash flow × (1 + growth after year 10) ÷ (discount rate − growth after year 10), discounted back ten years. Net cash is added and the total is divided by diluted shares. The result depends entirely on the assumptions. It is not a forecast, a price target or a recommendation. The last close is the consolidated US closing price, from Databento.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

Value per share on three example scenarios, from Science Applications Intl's earnings per share of $8.56 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 23.1×, the middle of Science Applications Intl's own P/E today, its peers' median and its sector's median (its peers' median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 12%, 11% and 10%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

Earnings per share, US$

Diluted earnings per share over the four quarters to July 31, 2026, from the 10-Qs and 10-K.

P/E multiple

P/E today is the last close divided by the latest earnings per share, the four quarters' where available. Peers: KBR, CACI International, Cintas, Copart.

Earnings growth in the years ahead (% a year) Starts at Science Applications Intl's revenue growth over the last 3 years, -2.0% a year, kept between 0% and 20%, as the base scenario does.

Earnings per share in the years ahead, US$

Year 1Year 2Year 3Year 4Year 5

Type your own estimate for any year; the years after it carry on at the growth rate.

Apply the multiple to earnings

A multiple on a future year's earnings gives the price then, brought back to today at the discount rate below.

Discount rate (% a year) The yearly return an investor wants for the risk, as in the cash flow model.

Value per share today at this multiple

—

Last close, October 26, 2026: $148.51
Value at this multiple, against the last close: —
Science Applications Intl's P/E at the last close: 17.3×

Company	Last close	Earnings per share	P/E today
CintasCTAS	$225.93	$5.07	44.6×
CACI InternationalCACI	$665.00	$24.36	27.3×
CopartCPRT	$29.15	$1.55	18.8×
Science Applications IntlSAIC	$148.51	$8.56	17.3×
KBRKBR	$40.02	$3.33	12.0×

How the P/E method works. Value per share is earnings per share times the multiple. On a future year's earnings, that gives the price in that year, which is brought back to today at the discount rate: price ÷ (1 + discount rate) for each year ahead. It is quick and easy to compare across companies, but it ignores debt and cash, and earnings can swing with one-off gains and charges, so a multiple says most about steady, profitable businesses. Like the cash flow model, the result depends entirely on the assumptions you choose. It is not a forecast, a price target or a recommendation.

Balance sheet

Fiscal year end	FY22	FY23	FY24	FY25	FY26
Cash and short-term investments	106	109	94	56	182
Debt incl. finance leases	2,518	2,374	2,099	2,220	2,487
Net debt (negative means net cash)	2,412	2,265	2,005	2,164	2,305
Net debt to EBITDA	4.8x	4.2x	2.6x	3.7x	4.2x
Debt to equity	1.6x	1.4x	1.2x	1.4x	1.7x
Interest coverage	4.4x	4.2x	5.9x	4.7x	5.2x
Current ratio	0.9x	1.1x	1.0x	0.8x	1.2x
Quick ratio	0.9x	1.0x	1.0x	0.8x	1.2x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, 6 insiders bought $478,727 of Science Applications Intl shares on the open market, and none sold any.

Date	Insider	Trade	Shares	Price	Value	Filing
Sep 22, 2026	Cush C. DavidDirector	Bought	1,000	$132.50	$132,500	Form 4
Apr 9, 2026	Srinivas AttiliEVP, Civilian	Bought	100	$94.96	$9,496	Form 4
Dec 31, 2025	Srinivas AttiliEVP, Civilian	Bought	100	$101.26	$10,126	Form 4
Dec 23, 2025	Vincent P. DiFronzoEVP,-Air Force & Comb Commands	Bought	150	$102.89	$15,434	Form 4
Dec 16, 2025	Prabu NatarajanEVP, Chief Financial Officer	Bought	2,000	$100.49	$200,980	Form 4
Dec 16, 2025	James ReaganInterim CEO, Director	Bought	1,000	$100.17	$100,170	Form 4
Dec 16, 2025	Hilary HagemanEVP General Counsel, Secretary	Bought	100	$100.21	$10,021	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Piotroski F-score

The F-score counts how many of nine simple tests of profitability, funding and efficiency a company passed in a year (Piotroski, 2000). The more tests passed, the stronger the year: 8 or 9 is strong, 0 to 2 weak. Companies that report no gross profit are scored on the other eight.

Test	FY24	FY25	FY26
Net income is positive	Pass	Pass	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Pass	Fail	Pass
Cash from operations exceeds net income	Fail	Pass	Pass
Debt fell relative to assets	Pass	Fail	Fail
Current ratio rose	Fail	Fail	Pass
Share count didn't rise	Pass	Pass	Pass
Gross margin rose	Pass	Pass	Pass
Revenue rose relative to assets	Pass	Pass	Fail
F-score	7 of 9	6 of 9	7 of 9
Accruals ratio	1.5%	−2.5%	−4.7%

The accruals ratio is net income minus cash from operations, over average total assets.

Compare

Put Science Applications Intl side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Science Applications Intl	FY26	−2.9%	7.2%	8.0%	12.8%	4.2x	7
KBR	FY25	1.0%	10.0%	6.6%	15.8%	2.2x	7	Compare
CACI International	FY26	10.9%	9.6%	8.2%	8.8%	4.7x	5	Compare
Cintas	FY26	8.9%	23.1%	16.7%	31.7%	0.4x	8	Compare
Copart	FY26	0.4%	35.4%	27.2%	19.6%	−1.0x	4	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score above.

10 years of figures

Fiscal year	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Income statement
Revenue	4,442	4,454	4,659	6,379	7,056	7,394	7,704	7,444	7,479	7,262
Revenue growth	2.9%	0.3%	4.6%	36.9%	10.6%	4.8%	4.2%	−3.4%	0.5%	−2.9%
Gross profit	439	411	464	706	792	859	888	872	892	872
Research and development	4	4	5	7	6	4	1	4	12	13
Operating income	263	256	220	370	390	462	501	741	563	521
Net income	143	179	137	226	209	277	300	477	362	358
Diluted EPS (US$)	3.12	4.02	3.11	3.83	3.56	4.77	5.38	8.88	7.17	7.70
Diluted shares (millions)	46	44	44	59	59	58	56	54	50	46
Cash flow
Cash from operations	273	217	184	458	755	518	532	396	494	609
Capital expenditure	15	22	28	21	46	36	25	27	36	32
Free cash flow	258	195	156	437	709	482	507	369	458	577
Dividends paid	54	54	53	87	87	86	83	79	75	70
Share buybacks	180	186	69	197	34	226	267	382	558	445
Acquisitions	0	0	1,001	0	1,202	255	0	0	0	203
Stock-based compensation	31	27	45	37	42	46	48	68	53	64
Balance sheet at fiscal year end
Cash and short-term investments	210	144	237	188	171	106	109	94	56	182
Debt incl. finance leases	1,047	1,024	2,089	1,921	2,515	2,518	2,374	2,099	2,220	2,487
Total assets	2,042	2,073	4,563	4,711	5,723	5,746	5,543	5,314	5,246	5,354
Total liabilities	1,693	1,746	3,064	3,284	4,171	4,117	3,839	3,529	3,669	3,854
Shareholders' equity	349	327	1,485	1,417	1,542	1,619	1,694	1,785	1,577	1,500
Margins and ratios
Gross margin	9.9%	9.2%	10.0%	11.1%	11.2%	11.6%	11.5%	11.7%	11.9%	12.0%
Operating margin	5.9%	5.8%	4.7%	5.8%	5.5%	6.2%	6.5%	9.9%	7.5%	7.2%
Net margin	3.2%	4.0%	2.9%	3.5%	3.0%	3.8%	3.9%	6.4%	4.8%	4.9%
Free cash flow margin	5.8%	4.4%	3.4%	6.8%	10.1%	6.5%	6.6%	5.0%	6.1%	8.0%
Return on capital	14.5%	17.9%	7.8%	9.1%	8.6%	9.1%	10.1%	14.7%	12.7%	12.8%
Return on equity	39.2%	53.0%	15.1%	15.6%	14.1%	17.5%	18.1%	27.4%	21.5%	23.3%
Return on assets	6.9%	8.7%	4.1%	4.9%	4.0%	4.8%	5.3%	8.8%	6.9%	6.8%
Net debt to EBITDA	2.9x	3.1x	7.6x	4.3x	5.5x	4.8x	4.2x	2.6x	3.7x	4.2x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Science Applications Intl's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Science Applications Intl.