Caci International Cla (CACI)

CACI reported revenue of $2.5 billion for the fiscal 2027 first quarter, which ended 30 September 2026, up 8.2 percent from a year earlier 1.

The quarterly report says the rise came from acquisitions and from organic growth of 2.1 percent, which is growth from the business CACI already owned 2.

Net income was $130.4 million, or $5.84 a diluted share, and contract awards of $4.8 billion gave a book-to-bill ratio, awards divided by revenue, of 2.0 1.

The company raised its fiscal 2027 revenue outlook to $10.7 billion to $10.9 billion from $10.65 billion to $10.85 billion, and kept free cash flow at least $900 million 16.

Separately, the board changed the fiscal year end from 30 June to 31 December on 20 October 2026, with a transition period from 1 July to 31 December 2026 4.

CACI was founded in 1962 as a simulation technology company and has grown into a provider of technology and expertise to national security customers 3.

Much of the growth came from buying other companies, with an eye on space and electronics 5.

Washington Technology listed the purchases of Six3 Systems in 2013, LGS Innovations and Mastodon in 2019, SA Photonics in 2021 and Azure Summit Technology in late 2024 5.

Azure Summit cost $1.2 billion, a record for CACI at the time 5.

The annual report counts eight acquisitions over the three fiscal years to 30 June 2026 3.

On 9 March 2026 CACI acquired all of the equity interests of ARKA Group, a maker of space-based sensors, for $2,642.7 million net of cash acquired, funded from increased borrowings and cash on hand 35.

Revenue for the year to 30 June 2026 was $9.57 billion, up 10.9 percent from $8.63 billion, and the report puts organic growth at 7.2 percent 3.

Income from operations rose 20.4 percent to $919.8 million (computed), while interest expense and other rose 35.6 percent because of borrowings used to finance acquisitions 3.

Net income grew 7.2 percent to $535.8 million (computed), held back by an effective tax rate of 23.9 percent against 17.4 percent a year before 3.

The prior year had benefited from a reduction in unrecognized tax benefits after a federal income tax audit was resolved 3.

Fixed-price work grew from 26.3 percent of revenue to 30.4 percent, as cost-plus-fee work slipped from 60.5 percent to 56.0 percent 3.

The federal budget was uneven through the year: a shutdown began on 1 October 2025 and a continuing resolution signed on 12 November 2025 ended it 3.

The enacted defense appropriations bill of 3 February 2026 provided a topline of $838.7 billion 3.

What CACI sells

CACI sells what it calls technology and expertise: software, data and electronic systems, and skilled people, mostly to national security agencies 3.

Its domestic work falls in seven market areas: command, control, communications and intelligence, cyber, digital solutions, enterprise IT, mission and engineering support, space and spectrum superiority 3.

Domestic operations were 96.8 percent of fiscal 2026 revenue, and the international side, run from London through CACI Limited and CACI BV, was 3.2 percent 3.

Customers and contracts

The Department of War brought in 53.6 percent of fiscal 2026 revenue, the intelligence community 24.6 percent, federal civilian agencies 17.4 percent and commercial and other customers 4.4 percent 3.

The ten largest contracts made up 22.5 percent of revenue, or $2.2 billion 3.

In the latest quarter, Department of War revenue rose 14.8 percent while federal civilian revenue fell 3.7 percent 2.

Awards and backlog

A one-year award with four option periods to support U.S. Central Command has a ceiling of $1.5 billion, of which CACI recognized $1.2 billion in backlog 1.

A five-year, $1.6 billion task order continues support to U.S. Army Special Operations Command 1.

Total backlog was $34.0 billion at 30 September 2026, and funded backlog, where money is already appropriated, was $6.2 billion, up 14.8 percent 1.

Plants and people

At 30 June 2026 CACI had 156 owned or leased properties totaling 4.8 million square feet across 31 states and the District of Columbia, and about 27,000 employees 3.

It opened a 61,000-square-foot Manufacturing Center of Excellence for Defense Electronics near Rochester, New York 1.

John Mengucci is president and chief executive, and Dr. David Young, who came from Lockheed Martin, was named chief operating officer on 22 June 2026 71.

DeEtte Gray retired as President, U.S. Operations, effective 30 June 2026, and stays as a strategic advisor to 31 December 2026 8.

Rivals

The annual report says CACI knows of no single dominant competitor in its fields and that non-traditional players have entered cloud computing, cyber, satellite operations and business systems 3.

Current problems

In the Al Shimari case over Abu Ghraib, a jury found on 12 November 2024 for the plaintiffs and awarded $3 million compensatory and $11 million punitive damages per plaintiff 3.

The appeals court affirmed 2-1 on 12 March 2026, and after the Supreme Court's Cisco decision of 22 June 2026 the matter is pending before that court 3.

Debt stood at $4.86 billion of principal at 30 September 2026 2.

The umbrella, in words

CACI International is a holding company whose operations run through subsidiaries mainly in the U.S. and Europe 3.

ARKA Group, bought in March 2026, was a portfolio company of Blackstone before the sale, and CACI owns all of its equity interests 35.

No single owner controls CACI; Schedule 13G filings show BlackRock with 8.9 percent, The Vanguard Group with 5.2 percent and Morgan Stanley with 5.2 percent at 21 August 2026 9.

Shareholders elected ten directors at the annual meeting held on 15 October 2026 10.

The company expects fiscal 2027 revenue of $10.7 billion to $10.9 billion, adjusted net income of $740 million to $760 million and adjusted diluted earnings per share of $33.18 to $34.08 1.

It also expects free cash flow of at least $900 million on 22.3 million diluted weighted average shares 1.

The fiscal year now ends on 31 December, and CACI intends to file a Form 10-KT for the transition period from 1 July to 31 December 2026 4.

The 10-Q lists the Golden Dome program among the trends the company believes will influence government spending 2.

The president's GFY27 budget request proposes $1.15 trillion in discretionary defense spending, and the 10-K says Congress is evaluating it 3.

The Al Shimari appeal remains undecided, and CACI asked the court to reverse the judgment and dismiss the claims for lack of jurisdiction 3.

In the Space Force program NITE-STAR, CACI is one of 15 awardees 1.