CACI INTERNATIONAL INC /DE/ (CACI): Results of Operations and Financial Condition
CACI INTERNATIONAL INC /DE/ (CACI) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 CACI Reports R esults for Its Fiscal 2026 Fourth Quarter and Full Year and Issues Fiscal Year 2027 Guidance Annual revenues of $9.6 billion, up 10.9% YoY Annual net income of $535.8 million; Diluted EPS of $24.16, up 8.2% YoY Annual adjusted net income of $661.6 mill
How this was made
The 30-second read
Why it matters
The filing provides fresh, trade-relevant operating metrics (revenue, EPS, EBITDA margin, free cash flow) and demand indicators (contract awards, book-to-bill, funded backlog) that can re-anchor expectations for FY2027 performance and cash generation.
Market read
Fresh earnings and guidance disclosure with multiple quantified demand and cash-flow datapoints, likely driving near-term positioning around FY2027 expectations.
What to watch
The excerpt notes ARKA acquisition-related interest expense and a higher tax provision; traders may want to watch whether working-capital benefits and cash conversion persist into FY2027.
Annual revenues of $9.6 billion, up 10.9% YoY; annual net income of $535.8 million; diluted EPS of $24.16, up 8.2% YoY; annual adjusted diluted EPS of $29.83, up 12.7% YoY; annual EBITDA of $1,173.9 million and EBITDA margin of 12.3%.
Fiscal 2026 revenue, operating income, adjusted diluted EPS, EBITDA, operating cash flow excluding MARPA, and free cash flow all increased year-over-year, while fourth-quarter revenue growth accelerated and funded backlog increased 28.6%.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Fourth-quarter revenuesGAAP | $ 2,709.1 | 15.2% | 17.6% |
| Fourth-quarter income from operationsGAAP | $ 272.2 | – | 31.7% |
| Fourth-quarter net incomeGAAP | $ 156.8 | – | (0.7)% |
| Fourth-quarter adjusted net incomenon-GAAP | $ 198.1 | – | 6.6% |
| Fourth-quarter diluted earnings per shareGAAP | $ 7.05 | – | (1.3)% |
| Fourth-quarter adjusted diluted earnings per sharenon-GAAP | $ 8.91 | – | 6.1% |
| Fourth-quarter EBITDAnon-GAAP | $ 353.1 | – | 33.5% |
| Fourth-quarter net cash provided by operating activities excluding MARPAnon-GAAP | $ 279.7 | – | 67.4% |
| Fourth-quarter free cash flownon-GAAP | $ 232.9 | – | 67.4% |
| Fourth-quarter days sales outstanding (DSO)other | 55 | – | – |
| Fiscal year revenuesGAAP | $ 9,567.8 | – | 10.9% |
| Fiscal year income from operationsGAAP | $ 919.8 | – | 20.4% |
| Fiscal year net incomeGAAP | $ 535.8 | – | 7.2% |
| Fiscal year adjusted net incomenon-GAAP | $ 661.6 | – | 11.6% |
| Fiscal year diluted earnings per shareGAAP | $ 24.16 | – | 8.2% |
| Fiscal year adjusted diluted earnings per sharenon-GAAP | $ 29.83 | – | 12.7% |
| Fiscal year EBITDAnon-GAAP | $ 1,173.9 | – | 21.4% |
| Fiscal year EBITDA marginnon-GAAP | 12.3% | – | – |
| Fiscal year net cash provided by operating activities excluding MARPAnon-GAAP | $ 842.1 | – | 65.7% |
| Fiscal year free cash flownon-GAAP | $ 735.4 | – | 66.2% |
| Fourth-quarter contract awardsother | $1.6 billion | – | – |
| Fiscal year contract awardsother | $10.2 billion | – | – |
| Fiscal year book-to-billother | 1.1x | – | – |
| Total backlog as of June 30, 2026other | $32.0 billion | – | 1.9% |
| Funded backlog as of June 30, 2026other | $5.4 billion | – | 28.6% |
What drove it
- Fourth-quarter revenue increased 17.6% year-over-year, driven by 11.6% organic growth.
- Fourth-quarter revenue grew 15.2% sequentially.
- The increase in fourth-quarter income from operations was driven by higher revenues and gross profit.
- The increase in cash from operations, excluding MARPA, was driven primarily by strong working capital management.
- Approximately 40% of fourth-quarter contract awards were for new business to CACI.
Concerns
- Fourth-quarter net income declined (0.7)% year-over-year to $ 156.8.
- Fourth-quarter diluted earnings per share declined (1.3)% year-over-year to $ 7.05.
- CACI stated that the slight decrease in diluted earnings per share was driven by increased interest expense as a result of the ARKA acquisition and a higher tax provision.
- Total backlog increased 1.9% year-over-year, below the 28.6% increase in funded backlog.
What to watch
- Fiscal year 2027 guidance figures were not included in the supplied filing text.
- Conversion of $32.0 billion of total backlog and $5.4 billion of funded backlog into revenue.
- Cash flow performance and working capital management following fiscal year free cash flow of $ 735.4.
- Interest expense associated with the ARKA acquisition and the tax provision, which affected fourth-quarter diluted earnings per share.
Balance sheet and cash flow
- Fourth-quarter net cash provided by operating activities excluding MARPA, a non-GAAP measure: $ 279.7, compared with $ 167.1; 67.4%.
- Fourth-quarter free cash flow, a non-GAAP measure: $ 232.9, compared with $ 139.1; 67.4%.
- Fiscal year net cash provided by operating activities excluding MARPA, a non-GAAP measure: $ 842.1, compared with $ 508.1; 65.7%.
- Fiscal year free cash flow, a non-GAAP measure: $ 735.4, compared with $ 442.5; 66.2%.
- The DSO calculations for three months ended June 30, 2026 and 2025, exclude the impact of the Company’s Master Accounts Receivable Purchase Agreement (MARPA), which was 7 days and 8 days, respectively.
Analysis
CACI closed fiscal 2026 with fourth-quarter revenue of $ 2,709.1, up 17.6% year-over-year and 15.2% sequentially. The company attributed the year-over-year increase to 11.6% organic growth. Fourth-quarter income from operations rose 31.7% to $ 272.2, which CACI attributed to higher revenues and gross profit. Fourth-quarter EBITDA increased 33.5% to $ 353.1.
Full-year revenue increased 10.9% to $ 9,567.8, while income from operations increased 20.4% to $ 919.8. Fiscal-year EBITDA increased 21.4% to $ 1,173.9, and the company reported an EBITDA margin of 12.3%. GAAP net income increased 7.2% to $ 535.8 and diluted EPS increased 8.2% to $ 24.16. Adjusted net income rose 11.6% to $ 661.6, and adjusted diluted EPS rose 12.7% to $ 29.83.
Cash generation strengthened materially. Fourth-quarter net cash provided by operating activities excluding MARPA increased 67.4% to $ 279.7, and fourth-quarter free cash flow increased 67.4% to $ 232.9. For the full year, net cash provided by operating activities excluding MARPA rose 65.7% to $ 842.1 and free cash flow rose 66.2% to $ 735.4. CACI attributed the quarterly operating-cash-flow increase primarily to strong working capital management.
The award and backlog data point to continued demand. Fiscal-year contract awards were $10.2 billion and book-to-bill was 1.1x. Fourth-quarter awards totaled $1.6 billion, with approximately 40% for new business to CACI. Total backlog was $32.0 billion, up 1.9%, while funded backlog was $5.4 billion, up 28.6%. The supplied text says CACI issued fiscal year 2027 guidance and expects strong cash flow, driven by strong revenue growth, margin expansion, and efficient working capital management, but it does not include the underlying guidance ranges or targets.
The key near-term earnings pressure was in GAAP fourth-quarter earnings per share. Net income declined (0.7)% to $ 156.8 and diluted EPS declined (1.3)% to $ 7.05, despite higher operating income. CACI cited increased interest expense resulting from the ARKA acquisition and a higher tax provision. Adjusted diluted EPS nevertheless grew 6.1% to $ 8.91.
Management, verbatim
CACI’s outstanding fiscal year 2026 performance demonstrates the power of our differentiated strategy, our relentless focus on execution, and underscores the technology-first national security company we have become. In a challenging environment, we grew free cash flow by 66%, delivered high-single digit organic revenue growth, expanded EBITDA margin to 12.3%, won $10 billion in contract awards, and grew both funded and total backlog.
John Mengucci, CACI President and Chief Executive Officer
Not in the filing
stated, not guessed- Fiscal year 2027 numerical revenue guidance
- Fiscal year 2027 gross-margin guidance
- Fiscal year 2027 operating-expense guidance
- Fiscal year 2027 tax-rate guidance
- Fiscal year 2027 EPS, EBITDA, cash flow, free cash flow, contract-award, or backlog guidance figures
- Prior fiscal year guidance for comparison
- Segment revenue and segment profitability
- Gross profit and gross margin
- Operating expenses
- Cash balance
- Debt balance
- GAAP cash provided by operating activities
- Capital expenditures
- Share repurchases
- Dividends
- Fiscal-year DSO
- Detailed fiscal-year 2026 narrative following the truncated filing text
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
CACI reported fiscal 2026 fourth-quarter and full-year results (ended June 30, 2026) and issued fiscal 2027 guidance in an SEC Form 8-K (Item 2.02) with an earnings release exhibit.
Ticker impact
CACI filed an 8-K with fiscal Q4 and full-year results plus fiscal 2027 guidance, including $10.2B contract awards and 1.1x book-to-bill.
Likely positive bias for shares on guidance credibility and backlog visibility, with upside sensitivity to any follow-through in contract awards and free-cash-flow conversion.
The filing discloses multiple decision-relevant datapoints: FY revenue up 10.9% YoY, EBITDA margin at 12.3%, free cash flow up 66%, and backlog growth (funded backlog +28.6%). However, the excerpt does not provide the specific FY2027 numeric guidance ranges, limiting precision on magnitude.
Market effects
Signals continued demand and budget allocation for U.S. national security technology and defense IT modernization, supporting sentiment for defense-tech contractors.
Limited direct regional read-through beyond defense contracting ecosystems.
Primarily U.S. government spending exposure, with limited direct global macro linkage.
Counterpoint
Contract awards and backlog growth may not fully translate into near-term earnings if execution timing slips or margin expansion proves temporary.
Key entities
- public_companyCACI International Inc /DE/
U.S. national security technology contractor reporting FY2026 results and issuing FY2027 guidance, with disclosed contract awards and backlog.
- executiveJohn Mengucci
CACI President and CEO quoted on performance and FY2027 positioning.
- partnerOracle
Named as a technology partner for OPM HRIT modernization contract involving CACI.
