What are the investment strengths of Science Applications International Corp (SAIC)?

Consistent cash generation (427M FCF TTM) at 8.3% FCF yield on market cap enables debt paydown and 1.48 dividend while peers burn cash P/E of 14.3x vs industry median 28x despite positive ROE (23.8%) and margins (7.1%) where most peers are unprofitable

What are the investment risks for Science Applications International Corp (SAIC)?

EPS declined 21% YoY with revenue flat 0.5% over 5Y - no organic growth engine, dependent on M&A that created 2.96B goodwill overhang Debt/equity 1.75x with 2.6B total debt and only 45M cash - limited flexibility if government contracts delayed or lost

Science Applications International Corp

SAIC

—

Science Applications International Corp AI Insights

Informational only. Not investment advice.

As of 2026-01-16

Snapshot

Goodwill of 2.96B is 196% of equity (1.51B) - tangible book value is negative 2.2B, creating material impairment risk if contracts lost[Goodwill]
FCF of 427M TTM on 7.35B revenue (5.8% yield) with only 39M capex - asset-light model funds 1.75x debt/equity leverage[Free Cash Flow TTM]
ROE of 23.8% TTM vs industry median of -26.7% - profitable in sector where most peers lose money[ROE TTM]

Watch Triggers

Goodwill: Any impairment charge announced — At 196% of equity, even 20% writedown would halve book value
Operating Margin TTM: Falls below 5% — Would signal contract pricing pressure or cost overruns on fixed-price work
Free Cash Flow TTM: Drops below 300M — Would strain dividend (68M annual) and debt service capacity

Bull Case

Consistent cash generation (427M FCF TTM) at 8.3% FCF yield on market cap enables debt paydown and 1.48 dividend while peers burn cash

Free Cash Flow TTMPCF RatioDividends Paid Per Share TTM

P/E of 14.3x vs industry median 28x despite positive ROE (23.8%) and margins (7.1%) where most peers are unprofitable

PE RatioROE TTMOperating Margin TTM

Bear Case

EPS declined 21% YoY with revenue flat 0.5% over 5Y - no organic growth engine, dependent on M&A that created 2.96B goodwill overhang

EPS Growth 1yrTotal Revenue 5yr GrowthGoodwill

Debt/equity 1.75x with 2.6B total debt and only 45M cash - limited flexibility if government contracts delayed or lost

Debt to EquityTotal DebtCash and Equivalents

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

45%

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Forward Thesis

Defense IT spending tailwinds should sustain 7% operating margins despite flat 0.5% 5Y revenue growth

1-3ymed

Government IT modernization demand remains elevated
Asset-light model (capex <1% of revenue) preserves margins
Interest expense (123M) manageable at 5.3x coverage

Operating margin 7.1% TTM vs industry median 0%FCF conversion 91% of operating cash flowEBITDA 663M covers interest 5.4x

Valuation Context

Caveats

Public Strategies Rankings

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SAIC Fundamentals

Professional, Scientific, and Technical Services → Professional, Scientific, and Technical Services

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$5.12B		—
Enterprise Value	$7.72B		—
P/E Ratio	14		—
Total Revenue - TTM	$7.35B	-0.4%	—
Earnings Per Share (diluted) - TTM	$7.78	+30.6%	—
Operating Margin - TTM	7.13%	+0.3%	—
Net Margin - TTM	5.05%	+0.9%	—
Free Cash Flow - TTM	$427.0M	+4.1%	—
Return on Common Equity - TTM	0.24	+6.1%	—
Beta 5Y (Monthly)	unknown		—

SAIC Dividend History

50 dividends

2026

$0.3700

01/14/26$0.3700

2025

$1.4800

10/10/25$0.3700

07/11/25$0.3700

04/11/25$0.3700

01/10/25$0.3700

2024

$1.4800

10/11/24$0.3700

07/12/24$0.3700

04/11/24$0.3700

01/11/24$0.3700

2023

$1.4800

10/12/23$0.3700

07/13/23$0.3700

04/13/23$0.3700

01/12/23$0.3700

2022

$1.4800

10/13/22$0.3700

07/14/22$0.3700

04/13/22$0.3700

01/13/22$0.3700

2021

$1.4800

10/14/21$0.3700

07/15/21$0.3700

04/15/21$0.3700

01/14/21$0.3700

2020

$1.4800

10/15/20$0.3700

07/16/20$0.3700

04/08/20$0.3700

01/16/20$0.3700

2019

$1.4200

10/10/19$0.3700

07/11/19$0.3700

04/11/19$0.3700

01/10/19$0.3100

2018

$1.2400

10/12/18$0.3100

07/12/18$0.3100

04/12/18$0.3100

01/11/18$0.3100

2017

$1.2400

10/12/17$0.3100

07/12/17$0.3100

04/11/17$0.3100

01/11/17$0.3100

2016

$1.2400

10/12/16$0.3100

07/13/16$0.3100

04/13/16$0.3100

01/13/16$0.3100

2015

$1.1800

10/13/15$0.3100

07/13/15$0.3100

04/13/15$0.2800

01/13/15$0.2800

2014

$1.1200

10/10/14$0.2800

07/11/14$0.2800

04/11/14$0.2800

01/13/14$0.2800

2013

$0.2800

10/10/13$0.2800

SAIC Stock Splits

No stock splits

SAIC SEC Filings

Filing Date	Report Date	Report Type	Filing Link
12/04/25	10/31/25	10-Q	0001571123-25-000189
09/04/25	08/01/25	10-Q	0001571123-25-000166
06/02/25	05/02/25	10-Q	0001571123-25-000107
03/17/25	01/31/25	10-K	0001571123-25-000022
12/05/24	11/01/24	10-Q	0001571123-24-000153
09/05/24	08/02/24	10-Q	0001571123-24-000129
06/03/24	05/03/24	10-Q	0001571123-24-000086
03/20/24	02/02/24	10-K	0001571123-24-000045
12/04/23	11/03/23	10-Q	0001571123-23-000135
09/07/23	08/04/23	10-Q	0001571123-23-000112
06/05/23	05/05/23	10-Q	0001571123-23-000081
04/03/23	02/03/23	10-K	0001571123-23-000031
12/05/22	10/28/22	10-Q	0001571123-22-000084
09/01/22	07/29/22	10-Q	0001571123-22-000064
06/06/22	04/29/22	10-Q	0001571123-22-000026
03/28/22	01/28/22	10-K	0001571123-22-000007
12/06/21	10/29/21	10-Q	0001571123-21-000043
09/03/21	07/30/21	10-Q	0001571123-21-000037
06/04/21	04/30/21	10-Q	0001571123-21-000026
03/26/21	01/29/21	10-K	0001571123-21-000015
12/04/20	10/30/20	10-Q	0001571123-20-000046
09/03/20	07/31/20	10-Q	0001571123-20-000040
06/05/20	05/01/20	10-Q	0001571123-20-000029
03/27/20	01/31/20	10-K	0001571123-20-000013
12/06/19	11/01/19	10-Q	0001571123-19-000036
09/06/19	08/02/19	10-Q	0001571123-19-000031
06/06/19	05/03/19	10-Q	0001571123-19-000023
03/29/19	02/01/19	10-K	0001571123-19-000004
12/06/18	11/02/18	10-Q	0001571123-18-000079
09/10/18	08/03/18	10-Q	0001571123-18-000039
06/13/18	05/04/18	10-Q	0001571123-18-000028
03/29/18	02/02/18	10-K	0001571123-18-000010
12/08/17	11/03/17	10-Q	0001571123-17-000011
09/08/17	08/04/17	10-Q	0001564590-17-018439
06/13/17	05/05/17	10-Q	0001564590-17-012473
03/30/17	02/03/17	10-K	0001564590-17-005636
12/08/16	11/04/16	10-Q	0001564590-16-030000
09/08/16	08/05/16	10-Q	0001564590-16-025044
06/13/16	05/06/16	10-Q	0001564590-16-020531
03/29/16	01/29/16	10-K	0001564590-16-015504
12/02/15	10/30/15	10-Q	0001564590-15-011216
09/01/15	07/31/15	10-Q	0001564590-15-007672
06/09/15	05/01/15	10-Q	0001564590-15-004956
03/31/15	01/30/15	10-K	0001564590-15-002280
12/09/14	10/31/14	10-Q	0001564590-14-006109
09/10/14	08/01/14	10-Q	0001193125-14-336973
06/10/14	05/02/14	10-Q	0001193125-14-232131
04/09/14	01/31/14	10-K	0001193125-14-135913
12/13/13	11/01/13	10-Q	0001193125-13-472090
09/05/13	08/02/13	10-Q	0001193125-13-358518
06/04/13	05/03/13	10-Q	0001193125-13-246802
03/27/13	01/31/13	10-K	0001193125-13-127240
12/06/12	10/31/12	10-Q	0001193125-12-492494
08/31/12	07/31/12	10-Q	0001193125-12-376140
06/01/12	04/30/12	10-Q	0001193125-12-255838
03/27/12	01/31/12	10-K	0001193125-12-133697
12/08/11	10/31/11	10-Q	0001193125-11-335289
08/31/12	07/31/11	10-Q	0001193125-12-376140
06/01/12	04/30/11	10-Q	0001193125-12-255838
03/27/13	01/31/11	10-K	0001193125-13-127240
12/08/11	10/31/10	10-Q	0001193125-11-335289