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CACI International Inc is a leading provider of expertise and technology solutions that support national security and government modernization efforts. The company specializes in delivering advanced capabilities in areas such as software development, data analytics, cybersecurity, and engineering to U.S. federal agencies, international governments, and commercial enterprises. CACI's offerings are tailored to enable mission-critical operations and enterprise modernization for its customers.
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Domestic Operations - Provides expertise and technology solutions for U.S. federal government agencies, including digital solutions, C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance), cybersecurity, space domain awareness, engineering services, enterprise IT, and mission support.
- Digital Solutions - Modernizes enterprise applications and infrastructure.
- C4ISR - Delivers advanced technology for command, control, communications, and ISR.
- Cyber - Offers full-spectrum cybersecurity and cyberspace operations.
- Space - Focuses on space domain awareness and decision support.
- Engineering Services - Provides platform integration, modernization, and sustainment.
- Enterprise IT - Implements secure enterprise IT solutions for federal agencies.
- Mission Support - Supports intelligence, analytics, and global supply chain operations.
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International Operations - Offers expertise and technology solutions to international government and commercial customers, primarily in Europe, focusing on modernization and mission-critical support.
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Expertise - Delivers specialized talent in areas such as software development, data analytics, naval architecture, intelligence support, and network analysis to support enterprise and mission operations.
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Technology - Provides advanced technology solutions, including agile software development, artificial intelligence, electromagnetic spectrum capabilities, photonics, enterprise IT modernization, and multi-domain offerings for SIGINT, EW, and cyber operations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
DeEtte Gray Executive | President, U.S. Operations | None | Leader in IT and business solutions, driving growth and innovation at CACI. | |
Gregory R. Bradford Executive | Chief Executive, CACI Limited | None | Long-serving leader of CACI's U.K. operations, with a tenure at CACI since 1985. | |
J. William Koegel, Jr. Executive | EVP, General Counsel, and Secretary | None | Legal expert with extensive experience in corporate governance and compliance. | |
Jeffrey D. MacLauchlan Executive | EVP, CFO, and Treasurer | None | Extensive background in finance and leadership roles at major aerospace and defense companies. | |
John S. Mengucci Executive | President and CEO | None | Proven industry leader with extensive experience in business development, strategic planning, and federal technology. | |
Meisha Lutsey Executive | President, Operations Support Services | None | Experienced leader in operations support, with a tenure at CACI since 2015. | |
Debora A. Plunkett Board | Director | Director at Nationwide Insurance, BlueVoyant, Mercury Systems; Senior Fellow at Harvard Belfer Center; Professor at University of Maryland | Former NSA executive with over 30 years of experience in cybersecurity and national security. | |
Lisa S. Disbrow Board | Director | Director at Mercury Systems, BlackBerry Limited; Senior Fellow at Johns Hopkins APL; Chair of NDIA Board; Member of President’s Export Council | Former Under Secretary of the Air Force, with extensive experience in national security and financial management. | |
Michael A. Daniels Board | Chairman of the Board | Director at BlackBerry Limited and Two Six Technologies | Former CEO of Network Solutions and senior executive at SAIC, with expertise in technology and cybersecurity. | |
Philip O. Nolan Board | Director | Managing Director at Blue Delta Capital Partners; Chairman at GovCIO LLC; Board Member at MAG Aerospace and Capgemini Government Solutions | Former CEO with extensive experience in public sector technology and private equity investment. | |
Ryan D. McCarthy Board | Director | Board Member at OneWeb Technologies, Striveworks, Lynx Software Technologies, Tomahawk Robotics, Millennium Corporation, and others | Former Secretary of the Army, with expertise in military procurement, policy, and cybersecurity. | |
Stanton D. Sloane Board | Director | None | Former CEO and senior executive in the aerospace and defense industry, with expertise in government procurement and technology. | |
Susan M. Gordon Board | Director | Director at BlackSky Technology, Security Scorecard, Freedom Consulting, Avantus Federal, OneWeb Technologies; Vice Chairman at MITRE | Former Principal Deputy Director of National Intelligence, with over 30 years of leadership in the Intelligence Community. | |
William L. Jews Board | Director | Director at Choice Hotels International | Experienced CEO with expertise in organizational growth, mergers, and acquisitions. | |
William S. Wallace Board | Director | None | Retired U.S. Army General with extensive leadership experience in military operations and modernization efforts. |
- With three consecutive quarters of over 10% growth, what factors are causing you to anticipate a potential deceleration in growth for the remainder of fiscal '25 as implied by your guidance?
- How do you plan to manage the increasing working capital demands associated with the changing nature of your portfolio, particularly with the addition of Azure Summit and Applied Insight, which require more inventory and work-in-process?
- Given the competitive M&A environment and your focus on disciplined acquisitions, what specific gaps in capabilities or customer presence are you targeting, and how confident are you in finding suitable acquisition targets without overpaying?
- With the potential shift towards more fixed-price contracts due to acquisitions like Azure Summit, how do you plan to manage the risks associated with fixed-price contracts, and what impact do you expect this to have on your margins?
- Considering the rapid innovation in counter-UAS technologies, including high-powered microwaves, lasers, and interceptors, how does CACI plan to stay competitive and does the company feel the need to develop a more end-to-end system beyond its traditional focus on signals intelligence?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Applied Insight Holdings, LLC | 2025 | CACI acquired Applied Insight for approximately $314.2 million, funded by cash and borrowings, to enhance its cloud migration and transformation capabilities with strong DoD and intelligence community ties, with significant purchase price allocations toward goodwill and intangible assets that offer tax benefits. |
Azure Summit Technology, Inc. | 2024 | CACI completed an all-cash acquisition valued at $1.275 billion, later effectively reduced to $1.08 billion net via a $194 million tax benefit, to strengthen its ISR, EW, and SIGINT capabilities by adding high-performance RF technology and a skilled, security-cleared workforce. |
Modern Human Capital Management & Mission Solutions | 2024 | In fiscal Q3 2024, CACI acquired a company specializing in modern human capital management, business systems, and mission solutions for the intelligence community for approximately $67.2 million, with part of the consideration deferred and significant allocations to goodwill and intangible assets. |
Digital Transformation Business (United Kingdom) | 2024 | CACI Limited acquired a UK-based digital transformation business for about $25.5 million, combining cash, deferred, and contingent considerations to broaden its expertise in user experience, software development, and digital optimization for both government and commercial sectors. |
UK Software & Cyber Services Business | 2023 | CACI Limited completed the acquisition of a UK business for roughly $17.3 million that provides software engineering, data analysis, and cyber services to the national security sector, with most of the purchase price allocated to goodwill. |
SA Photonics, Inc. | 2022 | CACI’s $275 million acquisition of SA Photonics enhanced its photonics technology portfolio, enabling lower SWaP solutions for LEO satellites and adding laser communications capabilities for airborne and maritime platforms, thus positioning CACI as a key player in secure, high-bandwidth space communications. |
ID Technologies (IDT) | 2022 | Acquired for $225 million, ID Technologies expands CACI's secure network modernization efforts with its NSA-compliant CSfC technology, supportively adding software-based IT solutions despite short-term margin dilution, and is expected to contribute significant revenue and EPS accretion over the following year. |
Recent press releases and 8-K filings for CACI.
- Robust Q3 performance: Reported revenue of $2.2 billion, an 11.7% EBITDA margin, $188 million in free cash flow, and 11.8% revenue growth (5.6% organic)
- Upgraded FY25 guidance: Raised expectations with revenue projections of $8.55–$8.65 billion, higher adjusted EPS/net income targets, and improved free cash flow outlook
- Strong award activity: Secured $2.5 billion in awards and maintained a 1.5x trailing book-to-bill ratio
- Capital optimization: Executed strategic share repurchases with a $150 million buyback and an additional repurchase of 436K shares at an average price of $344
- Robust Revenue Growth: Reported Q3 revenue of $2.2 billion (up 11.8% YoY) with net income of $111.9 million and diluted EPS of $5.00.
- Improved Operational Metrics: EBITDA reached $253.5 million (11.7% margin) with adjusted net income and diluted EPS showing solid growth.
- Raised Full-Year Guidance: Updated fiscal 2025 outlook with increased ranges for revenues and adjusted earnings metrics.
- Strong Contract Activity: Achieved $2.5 billion in contract awards and a growing backlog of $31.4 billion, underscoring market momentum.
- Business Model Transformation: CACI has shifted from a predominantly labor-based expertise model to a balanced approach with 55% technology and 45% expertise, emphasizing agile, software-driven solutions in defense services.
- Improved Financials & Backlog: The company reported an $8.5 billion revenue business with margins increased from the mid-8s to low 11%, and a robust backlog of over $30 billion in longer-duration contracts.
- Strategic Capital Deployment & M&A: CACI maintains a disciplined capital strategy targeting between 2.5x and 3x trailing EBITDA, and continues to pursue acquisitions focused on technology, customer footprint, and capability gaps.
- Focus on Key Markets: Emphasis remains on investments in electronic warfare, network modernization, and cyber capabilities, with significant attention given to emerging opportunities both domestically and internationally.
- CACI maintained that its guidance remains on track for a robust fiscal year, with first-half results beating expectations and raised outlook despite ongoing market and government challenges.
- The company highlighted its minimal exposure to non-security federal business (6% of revenue) and its strong positioning among key government contracts, including agile initiatives and satellite programs.
- Discussion emphasized operational challenges with government procurement processes and adaptations made to manage slower approval timelines amidst a distracted bureaucracy.
- CACI also noted the commencement of a share repurchase program under a $330 million authorization, indicating confidence in its financial strategy.
- Minimal disruption from government efficiency initiatives was noted, with executives highlighting that recent contract challenges (e.g., a couple of low-volume DOGE Board contracts) did not materially impact guidance or longer-term targets.
- The company reaffirmed its long-term guidance, targeting high single-digit revenue growth, a mid-11% EBITDA margin, and $1.6 billion of free cash flow over the next three years, supported by over 95% of fiscal '25 revenue in backlog.
- Executives also discussed a resilient outlook amid government budget shifts, mentioning supplemental budget increases and emphasizing a disciplined M&A strategy that targets 2.5–3x trailing EBITDA leverage and selectively uses earnouts to bridge valuation gaps.