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TickerSAIC
SectorInformation Technology Services
Mkt cap$4.1B
EV / EBITDA10.0×
PostureHigh Velocity
Composite70/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1571123

Science Applications International Corporation

SAICHIGH VELOCITYFILING INTENSITY

Science Applications International Corporation reads as an High Velocity (composite 70/100); Consistent Strategic Buyer deploying $203M across 1 disclosed transactions, down 86% vs the prior cycle · primary market Software & IT.

Lens

Disclosed M&A capital (2023–2025)

$203M

−86%

vs $1.5B in 2020–2022

Disclosed transactions

1

−67%

1/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$7.3B
EBITDA$660M
Enterprise value$6.6B
EV / Revenue0.9×
EV / EBITDA10.0×
P/EN/A
Cash$182M
Total debt$2.5B
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

46/100

Companies actively deploying disclosed capital into M&A

  • $5.6B disclosed buyer spend

Buyer Cadence

18/100

Buyer-side companies with recent filing activity

  • Filed within 48d
  • 173 8-Ks

Target Probability

8/100

Issuers showing target-side patterns from filings

  • 1 activism filings

Spin/Carve

2/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 7 spin pre-registrations
  • Latest event 13y ago; heavily discounted
  • 1 activism filings

Pressure Watch

14/100

Issuers facing activism, governance, or control pressure

  • 1 activism filings
  • Latest activism 7.7y ago; heavily discounted

Distress Watch

24/100

Issuers showing financial-distress filing patterns

  • 10-Q 187d stale
  • 1 activism filings

Restatement Risk

1/100

Issuers with accounting-integrity flags from filings

  • 2 auditor changes
  • Latest event 8.2y ago; heavily discounted

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 173 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $6.6B
  • 10-Q 187d ago
  • 4 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $2,160M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
20251$203M$203MN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
20212$255M$128MN/A
20201$1.2B$1.2BN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Platform
    20%
  • Geographic Expansion
    20%
  • Technology Acquisition
    20%
  • Bolt On
    20%
  • Horizontal Consolidation
    20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • platform
  • geographic_expansion
  • technology_acquisition
  • bolt_on
  • horizontal_consolidation
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

“acquired Koverse, a software company that provides a data management platform enabling artificial intelligence and machine learning on complex sensitive data”

10-KFY2021

“acquisition of Halfaker, a mission focused, pure-play health IT company, which grows the Company's digital transformation portfolio”

10-KFY2021

“This strategic acquisition enables greater market and customer access, particularly in the intelligence and space communities”

10-KFY2019

“The DoW has released a new Acquisition Transformation Strategy to rebuild the defense industrial base, which prioritizes speed and execution in the acquisition process, and may restructure contract requirements, reorganize the DoW workforce, shift its acquisition strategy toward longer-term contract structures, and require increased upfront investment on R&D-based concepts and solutions.”

10-KFY2025

“This strategic acquisition enhances our capabilities in government priority areas”

10-KFY2020
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Software & IT

Market spend (2023–2025)
$217.7B
Market spend (2020–2022)
$197.1B
Recent vs prior
+10%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

10.0×EV / EBITDA

SAIC trades at a -4.3-turn discount to the Software & IT peer median of 14.3×.

EV / Revenue
0.9×
Net debt / EBITDA
3.5×
Peer median EV / EBITDA
14.3×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
Oracle CorporationORCL
23.4×10.7×0.2×$64.1B$27.7B
Microsoft CorporationMSFT
15.5×9.8×0.0×$318.3B$75.4B
Salesforce, Inc.CRM
14.3×4.4×0.6×$41.5B$12.1B
Ss&c Technologies Holdings, Inc.SSNC
11.0×3.7×-0.1×$6.4B$1.7B
Science Applications International CorporationSAIC
10.0×0.9×3.5×$7.3B$203M
Fiserv, Inc.FISV
7.6×2.8×0.1×$21.1B$10M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Software & IT. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)132026-03-16
  • 10-Q (quarterly)382025-12-04
  • 8-K (event)1732026-04-09
  • Proxy / DEF 14A282026-04-22
  • Activism (13D / DFAN / PREC)12018-09-17

Signals on file

  • elevated

    Auditor change

    2018-03-30

    2 Item 4.01 filings on file; certifying accountant change.

  • elevated

    Spin registration

    2013-09-10

    7 Form 10-12 filings on file; pre-spin registration.

  • elevated

    Activism on file

    2018-09-17

    1 activist filing on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Spin/Carve candidate

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Science Applications International Corporation: Issuer Brief | SE-Cluster