Science Applications International Corp
SAIC · Services-Computer Integrated Systems Design · 42.3M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $314M (gross $382M, SBC $68M)
Reference price $94.96 · est. market cap ~$4.0B — last insider purchase, 2026-04-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Steady government-IT services contractor with strong FCF, offset by leverage and a low-margin model.
Strengths
- Strong free cash flow — FCF $577.0M (93rd), FCF margin 7.9%
- Healthy operating margin for the model — 7.2% (73rd)
- Recurring federal revenue base — per 10-K
Risks
- Elevated leverage — D/E 1.65 (82nd)
- Low gross margin — 12.0% (17th)
- Soft revenue and budget dependence — -2.9% (21st)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~98% of revenue from one customer/distributor — We generated 98% of our total revenues during each of the last three fiscal years from contracts with the U
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Buying back stockNet buyback — share count -2%/yr over 4y
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, FMR LLC, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
12.0%
Operating margin
7.2%
Net margin
4.9%
Return on equity
23.9%
Return on assets
6.7%
ROIC
10.4%
Revenue growth (QoQ)
8.9%
Net-income growth
-1.1%
Debt / equity
1.6×
Net debt / EBITDA
4.1×
Current ratio
1.2×
Free cash flow
$577M
EBITDA
$551M
Tangible book value
-$2.2B
Cash & investments
$182M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-06 | McCarthy Kathleen T. | Tax withheld | 1.2K | $114.35 |
| 2026-06-03 | SHANE STEVEN R | Grant | 1.9K | — |
| 2026-06-03 | Rogers Michael Scott | Grant | 2.2K | — |
| 2026-06-03 | Urban David | Grant | 1.9K | — |
| 2026-06-03 | MOREA DONNA S | Grant | 1.9K | — |
| 2026-06-03 | McGuirt Milford W | Grant | 1.9K | — |
| 2026-06-03 | MCFARLAND KATHARINA G. | Grant | 1.9K | — |
| 2026-06-03 | Handlon Carolyn B | Grant | 1.9K | — |
| 2026-06-03 | Eremenko Paul | Grant | 2.2K | — |
| 2026-06-03 | REAGAN JAMES | Tax withheld | 742 | $113.36 |
| 2026-06-03 | Tien John K Jr | Grant | 1.9K | — |
| 2026-06-02 | SHANE STEVEN R | Option exercise | 2.9K | $77.65 |
| 2026-06-02 | SHANE STEVEN R | Tax withheld | 1.9K | $115.08 |
| 2026-04-09 | Attili Srinivas | Buy | 100 | $94.96 |
| 2026-04-07 | MOREA DONNA S | Option exercise | 2.9K | $77.65 |
| 2026-04-07 | MOREA DONNA S | Tax withheld | 2.2K | $99.57 |
| 2026-04-07 | Natarajan Prabu | Tax withheld | 837 | $99.57 |
| 2026-04-07 | Hageman Hilary | Tax withheld | 670 | $99.57 |
| 2026-04-07 | DiFronzo Vincent P. | Tax withheld | 234 | $99.57 |
| 2026-04-07 | Supplee Barbara | Tax withheld | 245 | $99.57 |
| 2026-04-05 | Hageman Hilary | Tax withheld | 604 | $100.11 |
| 2026-04-05 | Supplee Barbara | Tax withheld | 233 | $100.11 |
| 2026-04-05 | DiFronzo Vincent P. | Tax withheld | 195 | $100.11 |
| 2026-04-05 | Natarajan Prabu | Tax withheld | 790 | $100.11 |
| 2026-04-04 | DiFronzo Vincent P. | Tax withheld | 351 | $100.11 |
| 2026-04-04 | Hageman Hilary | Tax withheld | 685 | $100.11 |
| 2026-04-04 | Supplee Barbara | Tax withheld | 394 | $100.11 |
| 2026-04-04 | Natarajan Prabu | Tax withheld | 895 | $100.11 |
| 2026-04-04 | Attili Srinivas | Tax withheld | 285 | $100.11 |
| 2026-04-03 | REAGAN JAMES | Grant | 32K | — |
| 2026-04-03 | Supplee Barbara | Grant | 4.6K | — |
| 2026-04-03 | Attili Srinivas | Grant | 4.2K | — |
| 2026-04-03 | Natarajan Prabu | Grant | 7.6K | — |
| 2026-04-03 | Hageman Hilary | Grant | 5.5K | — |
| 2026-04-03 | McCarthy Kathleen T. | Grant | 5.0K | — |
| 2026-03-04 | DiFronzo Vincent P. | Grant | 2.5K | — |
| 2026-03-04 | DiFronzo Vincent P. | Tax withheld | 1.1K | $94.42 |
| 2026-03-04 | Hageman Hilary | Grant | 7.5K | — |
| 2026-03-04 | Hageman Hilary | Tax withheld | 3.4K | $94.42 |
| 2026-03-04 | Supplee Barbara | Grant | 1.6K | — |
| 2026-03-04 | Supplee Barbara | Tax withheld | 760 | $94.42 |
| 2026-03-04 | Natarajan Prabu | Grant | 9.4K | — |
| 2026-03-04 | Natarajan Prabu | Tax withheld | 4.3K | $94.42 |
| 2026-02-17 | REAGAN JAMES | Tax withheld | 8.9K | $86.61 |
| 2025-12-31 | Attili Srinivas | Buy | 100 | $101.26 |
| 2025-12-23 | DiFronzo Vincent P. | Buy | 150 | $102.89 |
| 2025-12-22 | DiFronzo Vincent P. | Gift | 2.5K | — |
| 2025-12-22 | DiFronzo Vincent P. | Gift | 2.5K | — |
| 2025-12-16 | Hageman Hilary | Buy | 100 | $100.21 |
| 2025-12-16 | REAGAN JAMES | Buy | 1.0K | $100.17 |
| 2025-12-16 | Natarajan Prabu | Buy | 2.0K | $100.49 |
| 2025-12-05 | Urban David | Grant | 1.3K | — |
| 2025-12-05 | REAGAN JAMES | Grant | 20K | — |
| 2025-10-24 | Jackson James Joshua | Grant | 22 | $100.64 |
| 2025-10-10 | Attili Srinivas | Buy | 100 | $97.35 |
| 2025-09-16 | Hageman Hilary | Tax withheld | 1.6K | $103.93 |
| 2025-07-25 | Jackson James Joshua | Grant | 19 | $114.99 |
| 2025-06-18 | MOREA DONNA S | Gift | 950 | — |
| 2025-06-12 | Townes-Whitley Toni | Tax withheld | 3.6K | $103.80 |
| 2025-06-09 | Attili Srinivas | Tax withheld | 1.1K | $105.32 |
| 2025-06-06 | McCarthy Kathleen T. | Grant | 8.2K | — |
| 2025-06-04 | Handlon Carolyn B | Grant | 1.6K | $103.43 |
| 2025-06-04 | Tien John K Jr | Grant | 1.6K | $103.43 |
| 2025-06-04 | REAGAN JAMES | Grant | 1.6K | $103.43 |
| 2025-06-04 | McGuirt Milford W | Grant | 1.6K | $103.43 |
| 2025-06-04 | Graham Garth | Grant | 1.6K | $103.43 |
| 2025-06-04 | Kanouff Yvette | Grant | 1.6K | $103.43 |
| 2025-06-04 | MCFARLAND KATHARINA G. | Grant | 1.6K | $103.43 |
| 2025-06-04 | Mayopoulos Timothy J | Grant | 1.6K | $103.43 |
| 2025-06-04 | MOREA DONNA S | Grant | 1.6K | $103.43 |
| 2025-06-04 | SHANE STEVEN R | Grant | 1.6K | $103.43 |
| 2025-06-03 | Attili Srinivas | Buy | 100 | $102.03 |
| 2025-04-25 | Jackson James Joshua | Grant | 18 | $122.16 |
| 2025-04-14 | Graham Garth | Buy | 215 | $116.75 |
| 2025-04-07 | Natarajan Prabu | Tax withheld | 837 | $111.70 |
| 2025-04-07 | Ray David C. | Tax withheld | 159 | $111.70 |
| 2025-04-07 | Jackson James Joshua | Tax withheld | 140 | $111.70 |
| 2025-04-07 | DiFronzo Vincent P. | Tax withheld | 172 | $111.70 |
| 2025-04-07 | Handlon Carolyn B | Buy | 230 | $109.93 |
| 2025-04-07 | Supplee Barbara | Tax withheld | 163 | $111.70 |
| 2025-04-07 | Hageman Hilary | Tax withheld | 447 | $111.70 |
| 2025-04-05 | Townes-Whitley Toni | Tax withheld | 3.0K | $111.70 |
| 2025-04-05 | Natarajan Prabu | Tax withheld | 789 | $111.70 |
| 2025-04-05 | Jackson James Joshua | Tax withheld | 155 | $111.70 |
| 2025-04-05 | Supplee Barbara | Tax withheld | 155 | $111.70 |
| 2025-04-05 | Hageman Hilary | Tax withheld | 577 | $111.70 |
| 2025-04-05 | Ray David C. | Tax withheld | 155 | $111.70 |
| 2025-04-05 | DiFronzo Vincent P. | Tax withheld | 155 | $111.70 |
| 2025-04-04 | Attili Srinivas | Grant | 2.8K | — |
| 2025-04-04 | Supplee Barbara | Grant | 2.6K | — |
| 2025-04-04 | Ray David C. | Grant | 1.8K | — |
| 2025-04-04 | Natarajan Prabu | Grant | 6.0K | — |
| 2025-04-04 | Jackson James Joshua | Grant | 2.6K | — |
| 2025-04-04 | DiFronzo Vincent P. | Grant | 2.6K | — |
| 2025-04-04 | Hageman Hilary | Grant | 4.6K | — |
| 2025-04-04 | Attili Srinivas | Buy | 100 | $111.75 |
| 2025-04-04 | Townes-Whitley Toni | Grant | 26K | — |
| 2025-04-02 | Tien John K Jr | Buy | 215 | $116.50 |
| 2025-04-02 | MOREA DONNA S | Option exercise | 2.4K | $87.67 |
| 2025-04-02 | MOREA DONNA S | Tax withheld | 1.9K | $113.31 |
| 2025-04-01 | DiFronzo Vincent P. | Tax withheld | 134 | $112.27 |
| 2025-04-01 | Ray David C. | Tax withheld | 178 | $112.27 |
| 2025-04-01 | Jackson James Joshua | Tax withheld | 142 | $112.27 |
| 2025-04-01 | Natarajan Prabu | Tax withheld | 980 | $112.27 |
| 2025-03-28 | Townes-Whitley Toni | Buy | 596 | $111.50 |
| 2025-03-28 | Townes-Whitley Toni | Buy | 1.4K | $111.74 |
| 2025-03-28 | REAGAN JAMES | Buy | 450 | $112.10 |
| 2025-03-27 | McGuirt Milford W | Buy | 500 | $110.58 |
| 2025-03-27 | Kanouff Yvette | Option exercise | 2.0K | $83.46 |
| 2025-03-27 | Kanouff Yvette | Tax withheld | 1.5K | $109.60 |
| 2025-03-27 | SHANE STEVEN R | Option exercise | 2.4K | $87.67 |
| 2025-03-27 | SHANE STEVEN R | Tax withheld | 1.9K | $109.60 |
| 2025-03-27 | MCFARLAND KATHARINA G. | Buy | 230 | $109.86 |
| 2025-03-26 | Supplee Barbara | Buy | 360 | $109.61 |
| 2025-03-26 | Natarajan Prabu | Buy | 2.0K | $109.55 |
| 2025-03-26 | Hageman Hilary | Buy | 100 | $109.74 |
| 2025-03-25 | DiFronzo Vincent P. | Buy | 597 | $108.85 |
| 2025-03-04 | Natarajan Prabu | Grant | 13K | — |
| 2025-03-04 | Natarajan Prabu | Tax withheld | 4.4K | $95.77 |
| 2025-03-04 | DiFronzo Vincent P. | Grant | 1.9K | — |
| 2025-03-04 | DiFronzo Vincent P. | Tax withheld | 632 | $95.77 |
| 2025-03-04 | Jackson James Joshua | Grant | 1.9K | — |
| 2025-03-04 | Jackson James Joshua | Tax withheld | 623 | $95.77 |
| 2025-03-04 | Ray David C. | Grant | 2.4K | — |
| 2025-03-04 | Ray David C. | Tax withheld | 763 | $95.77 |
| 2025-01-24 | Jackson James Joshua | Grant | 20 | $110.57 |
| 2025-01-13 | MCFARLAND KATHARINA G. | Sell | 3.2K | $117.70 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-08 | 2026-06-03 | 0001571123-26-000113 ↗ |
| 8-K | 2026-06-01 | 2026-06-01 | 0001571123-26-000077 ↗ |
| 10-Q | 2026-06-01 | 2026-05-01 | 0001571123-26-000079 ↗ |
| 8-K | 2026-06-01 | 2026-05-27 | 0001193125-26-249675 ↗ |
| 8-K | 2026-05-29 | 2026-05-28 | 0001571123-26-000074 ↗ |
| 8-K | 2026-04-09 | 2026-04-07 | 0001193125-26-148919 ↗ |
| 8-K/A | 2026-04-09 | 2026-04-07 | 0001193125-26-149403 ↗ |
| 10-K | 2026-03-16 | 2026-01-30 | 0001571123-26-000029 ↗ |
| 8-K | 2026-03-16 | 2026-03-16 | 0001571123-26-000025 ↗ |
| 8-K | 2026-03-13 | 2026-03-12 | 0001571123-26-000023 ↗ |
| 8-K | 2026-02-17 | 2026-02-14 | 0001193125-26-053003 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001571123-26-000008 ↗ |