Science Applications (SAIC) Q4 2025 Earnings Report

Revenue (Q4 2025): $1.838B, up 6% YoY; Gross margin: 12.6% (gross profit $232M); Operating margin: 7.5% (operating income $138M); EBITDA: $172M (EBITDA margin ≈9.36%); Net income: $98M (net margin ≈5.33%); EPS (GAAP): $1.97; Diluted EPS: $2.00; Weighted avg shares: 49.75M (non-dd); Cash flow from operations: $115M; Free cash flow (Q4): $100M; Free cash flow per share: ≈$10; FY2025 revenue: $7.48B; FY2025 EBITDA: $710M (EBITDA margin ≈9.5%); FY2026 revenue guidance: $7.60–$7.75B; EBITDA margin guidance: 9.4–9.6%; Free cash flow guidance: $510–$530M (≈$11/sh); Backlog/submitted bids: backlog >$20B; submitted bids: $28B in FY2025; 2H recovery implied by recompete tailwinds; Debt and liquidity: total debt $2.39B; net debt $2.337B; cash & equivalents $56M; current ratio 0.83; ROE 6.21%; ROA 1.87%; D/E ≈1.52; P/E ≈13.7x; P/FCF ≈53.9x.