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Science Applications International (SAIC) Q2 FY2025 earnings: revenue $1.8 billion, up 1.9% on the year

Science Applications International Corp. (SAIC) reported revenue of $1.8 billion for Q2 FY2025, the quarter ended 2 August 2024, up 1.9% on the same quarter a year earlier. Net income was $81 million, down 67.2% on the year, and diluted earnings per share $1.58. The figures are the company's own, from the 10-Q it filed with the SEC on 5 September 2024.

Revenue$1.8 billionup 1.9%
Net income$81 milliondown 67.2%
Diluted EPS$1.58
QuarterQ2 FY2025ended 2 August 2024

The quarter, against the one before and a year earlier

LineQ2 FY2025Q1 FY2025A year earlierChange on the year
Revenue1,8181,847n/an/a
Cost of revenue1,6081,634n/an/a
Gross profit210213n/an/a
Gross margin11.6%11.5%n/a
Selling, general and administrative77.085.0n/an/a
Operating income134131n/an/a
Operating margin7.4%7.1%n/a
Interest expense31.034.0n/an/a
Pre-tax income10095.0n/an/a
Income tax19.018.0n/an/a
Effective tax rate19.0%18.9%n/a
Net income81.077.0n/an/a
Net margin4.5%4.2%n/a
Diluted EPS$1.58$1.48n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2025Q1 FY2025A year earlierChange on the year
Operating cash flow13898.0n/an/a
Capital expenditure6.06.0n/an/a
Free cash flow13292.0n/an/a
Free cash flow margin7.3%5.0%n/a
Cash from investing-9.0-7.0n/an/a
Cash from financing-131-136n/an/a
Depreciation and amortisation63.035.0n/an/a
Share-based compensation12.013.0n/an/a
Buybacks201103n/an/a
Dividends paid19.020.0n/an/a
Dividend per share$0.37$0.37n/an/a
Diluted shares, weighted51m52mn/an/a
Shares outstanding at period end50m51mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2025Q1 FY2025A year earlierChange on the year
Shareholders' equity1,6251,759n/an/a
Debt2,1672,083n/an/a
Operating lease liabilities158136n/an/a
Other liabilities1,3001,272n/an/a
Total liabilities and equity5,2505,250n/an/a
Fixed assets95.093.0n/an/a
Goodwill2,8512,851n/an/a
Intangible assets836865n/an/a
Investments36.032.0n/an/a
Cash and equivalents48.049.0n/an/a
Receivables946934n/an/a
Other assets438426n/an/a
Total assets5,2505,250n/an/a

Quarterly results, the last 12 quarters

Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027Q2 FY2027
Revenue1,8951,7371,8471,8181,9761,8381,8771,7691,8661,7501,9061,880
Cost of revenue1,6661,5451,6341,6081,7391,6061,6681,5541,6391,5291,6571,641
Gross profit229192213210237232209215227221249239
Gross margin12%11%12%12%12%13%11%12%12%13%13%13%
SG&A87.011485.077.083.094.089.075.010185.083.087.0
Operating income14379.0131134160138121139128133179152
Operating margin8%5%7%7%8%8%6%8%7%8%9%8%
Interest expense27.0n/a34.031.032.0n/an/an/an/an/an/an/a
Pre-tax income11448.095.010012610786.010894.099.0145119
Tax rate18%19%19%19%16%8%21%-18%17%14%21%14%
Net income93.039.077.081.010698.068.012778.085.0115102
Net margin5%2%4%4%5%5%4%7%4%5%6%5%
Diluted EPS$1.76$0.74$1.48$1.58$2.13$2.00$1.42$2.71$1.69$1.87$2.61$2.38
Operating cash flow10163.098.0138143115100122129258127146
Capital expenditure4.011.06.06.09.015.08.07.09.08.09.015.0
Free cash flow97.052.092.013213410092.0115120250118131
Buybacks10389.010320112113314211095.098.018898.0
Dividends paid19.019.020.019.018.018.019.017.017.017.017.016.0
Shares outstanding52m52m51m50m49m48m47m46m45m44m43m42m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 2 August 2024, filed 5 September 2024, accession 0001571123-24-000129: the filing on EDGAR. All of Science Applications International Corp.'s filings: EDGAR company page.

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