CACI International vs Leidos
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The short version
- Leidos is the larger business, with $17.2B of revenue in fiscal 2025 against $9.6B for CACI International, about 1.8 times as much.
- CACI International grew revenue faster (10.9%, against 3.1%).
- Leidos kept more of each dollar of sales as operating profit (12.3% operating margin, against 9.6%).
- Leidos turned more of its sales into free cash flow (9.5% FCF margin, against 8.2%).
- Leidos earned a higher return on the capital invested in it (19.3%, against 8.8%).
- Investors pay more for each dollar of CACI International’s earnings: a P/E of 26.0x against 12.7x for Leidos.
| Latest fiscal year | CACI · FY26 | LDOS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.1B | $17.1B |
| Revenue | $9.6B | $17.2B |
| Free cash flow | $780M | $1.6B |
| Net income | $536M | $1.4B |
| Growth | ||
| Revenue growth | 10.9% | 3.1% |
| 5-year growth | 9.6% | 6.9% |
| Share count change | −1.0% | −4.4% |
| Profitability | ||
| Gross margin | — | 18.0% |
| Operating margin | 9.6% | 12.3% |
| Net margin | 5.6% | 8.4% |
| FCF margin | 8.2% | 9.5% |
| Return on capital | 8.8% | 19.3% |
| Return on equity | 12.8% | 31.1% |
| Balance sheet | ||
| Net debt | $4.7B | $3.5B |
| Net debt / EBITDA | 4.7x | 1.5x |
| Dividends and buybacks | $17.1M | $611M |
| Valuation & quality | ||
| P/E | 26.0x | 12.7x |
| Piotroski F-score | 5 | 9 |
Revenue
FY17
CACI $4.4B
LDOS $10.2B
FY18
CACI $4.5B
LDOS $10.2B
FY19
CACI $5.0B
LDOS $11.1B
FY20
CACI $5.7B
LDOS $12.3B
FY21
CACI $6.0B
LDOS $13.7B
FY22
CACI $6.2B
LDOS $14.4B
FY23
CACI $6.7B
LDOS $15.4B
FY24
CACI $7.7B
LDOS $16.7B
FY25
CACI $8.6B
LDOS $17.2B
FY26
CACI $9.6B
LDOS —
CACI
LDOS
Operating margin
FY17
CACI 6.8%
LDOS 5.5%
FY18
CACI 7.6%
LDOS 7.4%
FY19
CACI 7.6%
LDOS 8.2%
FY20
CACI 8.0%
LDOS 8.1%
FY21
CACI 8.9%
LDOS 8.4%
FY22
CACI 8.0%
LDOS 7.6%
FY23
CACI 8.5%
LDOS 4.0%
FY24
CACI 8.5%
LDOS 11.0%
FY25
CACI 8.9%
LDOS 12.3%
FY26
CACI 9.6%
LDOS —
CACI
LDOS
Free cash flow
FY17
CACI $238M
LDOS $445M
FY18
CACI $280M
LDOS $695M
FY19
CACI $507M
LDOS $871M
FY20
CACI $446M
LDOS $1.2B
FY21
CACI $519M
LDOS $929M
FY22
CACI $671M
LDOS $863M
FY23
CACI $324M
LDOS $980M
FY24
CACI $434M
LDOS $1.3B
FY25
CACI $481M
LDOS $1.6B
FY26
CACI $780M
LDOS —
CACI
LDOS
Return on capital
FY17
CACI 6.6%
LDOS 8.5%
FY18
CACI 11.2%
LDOS 11.7%
FY19
CACI 8.7%
LDOS 11.9%
FY20
CACI 9.3%
LDOS 11.6%
FY21
CACI 11.9%
LDOS 10.7%
FY22
CACI 8.9%
LDOS 9.3%
FY23
CACI 9.5%
LDOS 3.6%
FY24
CACI 10.3%
LDOS 16.8%
FY25
CACI 10.9%
LDOS 19.3%
FY26
CACI 8.8%
LDOS —
CACI
LDOS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.