At a glance
Science Applications International Corporation is worth $6.24B, about 19 times its fiscal 2026 earnings. Revenue fell 2.9% to $7.26B in fiscal 2026, with 4.9% kept as profit; over 5 years it has grown 0.6% a year. It pays a 0.99% dividend yield, and returned $2.27B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +63.5% over the past year with dividends reinvested and +13.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 45.9% in the 2020 crash (S&P 500: 33.7%) and 15.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 2 months after the lows.
The business in plain English
Science Applications International Corp (SAIC) sells technical, engineering and information technology (IT) services, almost entirely to the U.S. government. Its work includes upgrading government computer systems, cloud and cybersecurity projects, artificial intelligence tools, and maintaining weapon systems and military ground vehicles. Customers include every military branch, the Department of War (formerly the Department of Defense), NASA, the State, Justice and Homeland Security departments, and intelligence agencies.
SAIC earns revenue from about 1,700 active contracts and task orders (individual jobs ordered under a larger contract). It bills for work done by its roughly 23,000 employees, many of them based at customer sites. In fiscal 2026 (the year ended January 30, 2026), 98% of revenue came from U.S. government work, either directly or as a subcontractor. About 52% came from the Department of War and 46% from intelligence and other federal agencies.
SAIC reports two segments. Defense and Intelligence brought in $5.58 billion, or 76.9% of the $7.26 billion total. Civilian, which serves federal, state and local agencies on border security, travel, trade and health, brought in $1.68 billion, or 23.1%. Margins are thin: gross margin (the share of revenue left after the direct costs of the work) was 12%, and net profit was 4.9% of revenue. In October 2025 SAIC acquired SilverEdge Government Solutions.
Price history
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SAIC +63.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Defense and Intelligence | $5.58B | 76.9% |
| Civilian | $1.68B | 23.1% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $1.88B, up 6.3% from a year earlier, and net income was $102.0M (-19.7%).
- For fiscal 2026, revenue was $7.26B (-2.9% year over year; +0.6% a year from FY2021 to FY2026) with a 4.9% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +0.6% watch |
|---|---|
| Operating margin | 7.2% watch |
| Free cash flow margin | 7.9% watch |
| Return on equity (FY2026) | 23.9% good |
| Return on assets (FY2026) | 6.7% watch |
| Net cash (cash minus debt) | $-2.36B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $7.06B | $209.0M | $709.0M |
| FY2022 | $7.39B | $277.0M | $482.0M |
| FY2023 | $7.70B | $300.0M | $507.0M |
| FY2024 | $7.44B | $477.0M | $369.0M |
| FY2025 | $7.48B | $362.0M | $458.0M |
| FY2026 | $7.26B | $358.0M | $577.0M |
Valuation snapshot
| Market value | $6.24B |
|---|---|
| P/E ratio | 19.3 |
| Dividend yield | 0.99% |
Rank among 1514 US companies
Market value at each year end
Science Applications International’s market value went from $3.72B at the end of 2016 to $6.24B on Oct 28, 2026, up 68%; since the end of 2025 it is up 37%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $6.24B | +37.4% |
| 2025 | $4.54B | -16.9% |
| 2024 | $5.46B | -15.6% |
| 2023 | $6.47B | +6.8% |
| 2022 | $6.06B | +27.3% |
| 2021 | $4.76B | -13.6% |
| 2020 | $5.51B | +9.7% |
| 2019 | $5.02B | +85.3% |
| 2018 | $2.71B | -17.2% |
| 2017 | $3.27B | -12.0% |
| 2016 | $3.72B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SAIC price data to Oct 28, 2026 | +50.0% | +63.5% | +13.1% | +13.0% | +9.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +50.0% |
| 2025 | -8.7% |
| 2024 | -9.1% |
| 2023 | +13.6% |
| 2022 | +34.9% |
| 2021 | -10.2% |
| 2020 | +10.8% |
| 2019 | +39.1% |
| 2018 | -15.5% |
| 2017 | -8.2% |
| 2016 | +89.5% |
| 2015 | -5.3% |
| 2014 | +54.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 45.7% over that stretch · deepest drop along the way 45.9%, back to its old high 8.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 6.5% over that stretch · deepest drop along the way 15.4%, back to its old high 2.4 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 2 open-market purchases ($142K) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 22, 2026 | C. David Cush Director | buy | $133K |
| Apr 9, 2026 | Srinivas Attili EVP, Civilian | buy | $9K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.1% | Mar 31, 2026 |
| Fuller & Thaler Asset Management, Inc. | 6.99% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.5% | Mar 31, 2026 |
| Vanguard Capital Management | 5.43% | Mar 31, 2026 |
| FMR LLC | 4.7% | Dec 31, 2025 |
| Boston Partners | 4.68% | Dec 31, 2024 |
| Wellington Management Group LLP | 3.5% | Dec 31, 2024 |
ETFs with the most weight in SAIC
| IHAK iShares Cybersecurity & Tech ETF | 4.39% |
| CWS AdvisorShares Focused Equity ETF | 4.33% |
| BCDF Horizon Kinetics Blockchain Development ETF | 3.61% |
| FORH Formidable ETF | 2.25% |
| CIBR First Trust NASDAQ Cybersecurity ETF | 1.53% |
| PPA Invesco Aerospace & Defense ETF | 0.65% |
| WCEO Hypatia Women CEO ETF | 0.62% |
| SOVF Sovereign's Capital Flourish Fund | 0.53% |
What could go wrong
- Nearly all revenue comes from one customer. In fiscal 2024, 2025 and 2026, 98% of revenue came from U.S. government work. The government can end or cut back contracts at any time, and damaged relationships could cost future work.
- Federal budget delays and shifting priorities. When Congress misses budget deadlines, stopgap funding (continuing resolutions) blocks new spending and can delay or shrink awards. Defense priorities could also shift toward work SAIC does not do.
- Fierce bidding and award protests. Most contracts SAIC pursues are competitively bid, often as multi-award contracts shared by several winners, which brings pricing pressure and no guaranteed orders. Rivals can protest wins, causing delays or lost contracts.
- Thin margins leave little room for error. Profit depends on the mix of contracts and on estimating cost, time and staffing correctly. With operating profit of 7.2 cents per dollar of revenue in fiscal 2026, misjudged estimates can quickly erode earnings.
- Audits, investigations and strict contracting rules. Government audits can lead to cost adjustments that reduce payments, and investigations could hurt profits and cash. Breaking conflict-of-interest rules for contractors could lead to penalties, including terminated contracts.
- Hiring and keeping cleared staff. Most of SAIC's roughly 23,000 employees hold active security clearances, which many contracts require. Failing to attract, train and keep skilled people and senior leaders would hurt its ability to deliver work.
Recent events
- Other company announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Other company announcement
- Major agreement signed; New debt or financial obligation
- Executive or board change
- Shareholder vote results
- Quarterly results released
- Executive or board change
- Other company announcement
For income and retirement investors
SAIC pays a dividend, but it is small and has not grown. The per-share amount stayed flat from fiscal 2021 through fiscal 2026, so there is no streak of increases. The yield was 0.99% as of October 28, 2026. Dividends took 19.6% of fiscal 2026 earnings and 12.1% of free cash flow (cash left after running and investing in the business). SAIC has favored buybacks (repurchasing its own shares): $1.88 billion over fiscal 2022–2026, versus $393 million in dividends. The share count fell 26.4% between November 2021 and August 2026.
In the 2020 COVID crash the stock fell 45.9% and took about 8.4 months to recover. Between the market's January 2022 peak and October 2022 low, it gained 6.5%, despite a 15.4% drop along the way. It also fell 45.7% at one point in the three years to October 28, 2026. As a single stock relying on one main customer, SAIC carries more risk than a diversified fund.
Questions investors ask
How does SAIC make money?
SAIC makes money selling technical, engineering and IT services to the U.S. government through about 1,700 active contracts and task orders. In fiscal 2026 (the year ended January 30, 2026), 98% of revenue came from U.S. government work. The Defense and Intelligence segment produced 76.9% of the $7.26 billion in revenue and the Civilian segment 23.1%. Projects range from cloud and cybersecurity upgrades to maintaining weapon systems and military ground vehicles.
Does SAIC raise its dividend every year?
No. SAIC pays a regular dividend, but the per-share amount did not change from fiscal 2021 through fiscal 2026, so it has no record of yearly increases. The yield was 0.99% as of October 28, 2026. Dividends used 19.6% of fiscal 2026 earnings. The company has returned far more cash through buybacks: $1.88 billion over fiscal 2022–2026, compared with $393 million in dividends.
Who are SAIC's biggest customers?
The Department of War (formerly the Department of Defense) is the largest, at about 52% of revenue in fiscal 2026. Intelligence and other federal agencies made up 46%, and commercial, state, local and international customers made up the rest. SAIC works for every military branch, NASA, the State, Justice and Homeland Security departments, and intelligence agencies. Because its customers are so concentrated, federal budget delays or spending cuts can hit its results directly.
How much debt does SAIC have?
SAIC had about $2.49 billion of total debt and $126 million of cash and investments as of July 31, 2026, so net debt was about $2.36 billion. Shareholders' equity (assets minus liabilities) was $1.44 billion. For scale, the company earned $358 million and generated $577 million of free cash flow in fiscal 2026. An August 19, 2026 SEC filing reported a major agreement and a new debt obligation, which came after these balance-sheet figures.
How has SAIC stock performed?
Strongly over the latest year, and unevenly before that. As of October 28, 2026, the share price was up 63.5% over one year. It rose about 13% a year over five years and 9.7% a year over ten years. But it fell 9.1% in 2024 and 8.7% in 2025, and it dropped 45.7% at one point in the three years to October 28, 2026. These are share-price returns. Past returns do not predict future ones.