Intrinsic value of CACI International Cl A - CACI

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$116.00

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$116.00

 
Intrinsic value

$440.28

 
Up/down potential

+280%

 
Rating

str. buy

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CACI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.01
  27.50
  25.25
  23.23
  21.40
  19.76
  18.29
  16.96
  15.76
  14.69
  13.72
  12.85
  12.06
  11.35
  10.72
  10.15
  9.63
  9.17
  8.75
  8.38
  8.04
  7.74
  7.46
  7.22
  6.99
  6.79
  6.62
  6.45
  6.31
  6.18
  6.06
Revenue, $m
  3,744
  4,774
  5,979
  7,368
  8,944
  10,712
  12,671
  14,819
  17,155
  19,675
  22,373
  25,247
  28,292
  31,505
  34,882
  38,421
  42,122
  45,985
  50,009
  54,199
  58,556
  63,085
  67,793
  72,685
  77,768
  83,052
  88,547
  94,261
  100,207
  106,398
  112,845
Variable operating expenses, $m
 
  4,364
  5,400
  6,594
  7,950
  9,470
  11,155
  13,003
  15,011
  17,178
  19,499
  21,711
  24,330
  27,093
  29,997
  33,041
  36,223
  39,545
  43,006
  46,608
  50,355
  54,251
  58,299
  62,506
  66,877
  71,421
  76,146
  81,060
  86,174
  91,497
  97,042
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,479
  4,364
  5,400
  6,594
  7,950
  9,470
  11,155
  13,003
  15,011
  17,178
  19,499
  21,711
  24,330
  27,093
  29,997
  33,041
  36,223
  39,545
  43,006
  46,608
  50,355
  54,251
  58,299
  62,506
  66,877
  71,421
  76,146
  81,060
  86,174
  91,497
  97,042
Operating income, $m
  265
  410
  579
  773
  994
  1,242
  1,516
  1,817
  2,144
  2,497
  2,875
  3,536
  3,962
  4,412
  4,885
  5,381
  5,899
  6,440
  7,003
  7,590
  8,200
  8,835
  9,494
  10,179
  10,891
  11,631
  12,400
  13,201
  14,033
  14,900
  15,803
EBITDA, $m
  330
  680
  852
  1,050
  1,275
  1,527
  1,806
  2,112
  2,445
  2,804
  3,188
  3,598
  4,032
  4,490
  4,971
  5,475
  6,003
  6,553
  7,127
  7,724
  8,345
  8,990
  9,661
  10,358
  11,083
  11,836
  12,619
  13,433
  14,281
  15,163
  16,082
Interest expense (income), $m
  37
  49
  72
  98
  128
  163
  201
  244
  291
  341
  396
  455
  518
  584
  654
  728
  805
  885
  970
  1,057
  1,149
  1,243
  1,342
  1,445
  1,551
  1,662
  1,777
  1,897
  2,021
  2,151
  2,286
Earnings before tax, $m
  224
  361
  507
  675
  866
  1,079
  1,315
  1,573
  1,853
  2,155
  2,478
  3,081
  3,444
  3,828
  4,231
  4,653
  5,094
  5,554
  6,034
  6,533
  7,052
  7,591
  8,152
  8,734
  9,340
  9,969
  10,623
  11,304
  12,012
  12,749
  13,517
Tax expense, $m
  81
  97
  137
  182
  234
  291
  355
  425
  500
  582
  669
  832
  930
  1,034
  1,142
  1,256
  1,375
  1,500
  1,629
  1,764
  1,904
  2,050
  2,201
  2,358
  2,522
  2,692
  2,868
  3,052
  3,243
  3,442
  3,650
Net income, $m
  143
  263
  370
  493
  632
  788
  960
  1,148
  1,353
  1,573
  1,809
  2,249
  2,514
  2,794
  3,089
  3,397
  3,719
  4,055
  4,405
  4,769
  5,148
  5,542
  5,951
  6,376
  6,818
  7,277
  7,755
  8,252
  8,769
  9,307
  9,868

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  49
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,987
  5,020
  6,287
  7,747
  9,405
  11,264
  13,324
  15,583
  18,039
  20,688
  23,526
  26,548
  29,750
  33,128
  36,679
  40,401
  44,293
  48,354
  52,586
  56,991
  61,573
  66,336
  71,286
  76,430
  81,775
  87,332
  93,109
  99,118
  105,371
  111,880
  118,660
Adjusted assets (=assets-cash), $m
  3,938
  5,020
  6,287
  7,747
  9,405
  11,264
  13,324
  15,583
  18,039
  20,688
  23,526
  26,548
  29,750
  33,128
  36,679
  40,401
  44,293
  48,354
  52,586
  56,991
  61,573
  66,336
  71,286
  76,430
  81,775
  87,332
  93,109
  99,118
  105,371
  111,880
  118,660
Revenue / Adjusted assets
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
  0.951
Average production assets, $m
  276
  353
  442
  545
  662
  793
  938
  1,097
  1,269
  1,456
  1,656
  1,868
  2,094
  2,331
  2,581
  2,843
  3,117
  3,403
  3,701
  4,011
  4,333
  4,668
  5,017
  5,379
  5,755
  6,146
  6,552
  6,975
  7,415
  7,873
  8,351
Working capital, $m
  357
  463
  580
  715
  868
  1,039
  1,229
  1,437
  1,664
  1,908
  2,170
  2,449
  2,744
  3,056
  3,384
  3,727
  4,086
  4,461
  4,851
  5,257
  5,680
  6,119
  6,576
  7,050
  7,544
  8,056
  8,589
  9,143
  9,720
  10,321
  10,946
Total debt, $m
  1,456
  2,048
  2,798
  3,662
  4,644
  5,744
  6,964
  8,301
  9,755
  11,323
  13,003
  14,792
  16,688
  18,688
  20,790
  22,993
  25,297
  27,702
  30,207
  32,815
  35,527
  38,347
  41,277
  44,322
  47,487
  50,776
  54,196
  57,754
  61,455
  65,309
  69,323
Total liabilities, $m
  2,380
  2,972
  3,722
  4,586
  5,568
  6,668
  7,888
  9,225
  10,679
  12,247
  13,927
  15,716
  17,612
  19,612
  21,714
  23,917
  26,221
  28,626
  31,131
  33,739
  36,451
  39,271
  42,201
  45,246
  48,411
  51,700
  55,120
  58,678
  62,379
  66,233
  70,247
Total equity, $m
  1,607
  2,048
  2,565
  3,161
  3,837
  4,596
  5,436
  6,358
  7,360
  8,441
  9,599
  10,832
  12,138
  13,516
  14,965
  16,484
  18,071
  19,728
  21,455
  23,252
  25,122
  27,065
  29,085
  31,183
  33,364
  35,631
  37,988
  40,440
  42,991
  45,647
  48,413
Total liabilities and equity, $m
  3,987
  5,020
  6,287
  7,747
  9,405
  11,264
  13,324
  15,583
  18,039
  20,688
  23,526
  26,548
  29,750
  33,128
  36,679
  40,401
  44,292
  48,354
  52,586
  56,991
  61,573
  66,336
  71,286
  76,429
  81,775
  87,331
  93,108
  99,118
  105,370
  111,880
  118,660
Debt-to-equity ratio
  0.906
  1.000
  1.090
  1.160
  1.210
  1.250
  1.280
  1.310
  1.330
  1.340
  1.350
  1.370
  1.370
  1.380
  1.390
  1.390
  1.400
  1.400
  1.410
  1.410
  1.410
  1.420
  1.420
  1.420
  1.420
  1.430
  1.430
  1.430
  1.430
  1.430
  1.430
Adjusted equity ratio
  0.396
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408
  0.408

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  143
  263
  370
  493
  632
  788
  960
  1,148
  1,353
  1,573
  1,809
  2,249
  2,514
  2,794
  3,089
  3,397
  3,719
  4,055
  4,405
  4,769
  5,148
  5,542
  5,951
  6,376
  6,818
  7,277
  7,755
  8,252
  8,769
  9,307
  9,868
Depreciation, amort., depletion, $m
  65
  270
  273
  277
  281
  285
  290
  295
  301
  307
  314
  62
  70
  78
  86
  95
  104
  113
  123
  134
  144
  156
  167
  179
  192
  205
  218
  233
  247
  262
  278
Funds from operations, $m
  244
  534
  643
  770
  913
  1,073
  1,250
  1,443
  1,654
  1,880
  2,123
  2,311
  2,584
  2,872
  3,175
  3,491
  3,823
  4,168
  4,528
  4,903
  5,292
  5,697
  6,118
  6,555
  7,010
  7,482
  7,973
  8,484
  9,016
  9,570
  10,146
Change in working capital, $m
  1
  100
  117
  135
  153
  171
  190
  208
  227
  244
  262
  279
  295
  312
  328
  343
  359
  375
  390
  406
  423
  439
  457
  474
  493
  513
  533
  554
  577
  600
  625
Cash from operations, $m
  243
  515
  527
  635
  760
  901
  1,060
  1,235
  1,427
  1,636
  1,861
  2,032
  2,289
  2,561
  2,847
  3,148
  3,464
  3,794
  4,138
  4,496
  4,870
  5,258
  5,661
  6,081
  6,517
  6,970
  7,440
  7,930
  8,439
  8,969
  9,521
Maintenance CAPEX, $m
  0
  -9
  -12
  -15
  -18
  -22
  -26
  -31
  -37
  -42
  -49
  -55
  -62
  -70
  -78
  -86
  -95
  -104
  -113
  -123
  -134
  -144
  -156
  -167
  -179
  -192
  -205
  -218
  -233
  -247
  -262
New CAPEX, $m
  -21
  -77
  -89
  -103
  -117
  -131
  -145
  -159
  -173
  -186
  -200
  -213
  -225
  -238
  -250
  -262
  -274
  -286
  -298
  -310
  -322
  -335
  -348
  -362
  -376
  -391
  -407
  -423
  -440
  -458
  -477
Cash from investing activities, $m
  -608
  -86
  -101
  -118
  -135
  -153
  -171
  -190
  -210
  -228
  -249
  -268
  -287
  -308
  -328
  -348
  -369
  -390
  -411
  -433
  -456
  -479
  -504
  -529
  -555
  -583
  -612
  -641
  -673
  -705
  -739
Free cash flow, $m
  -365
  428
  426
  517
  625
  748
  888
  1,045
  1,218
  1,407
  1,613
  1,764
  2,001
  2,253
  2,519
  2,800
  3,095
  3,404
  3,726
  4,063
  4,414
  4,778
  5,157
  5,552
  5,961
  6,387
  6,829
  7,289
  7,767
  8,264
  8,781
Issuance/(repayment) of debt, $m
  399
  641
  750
  864
  982
  1,100
  1,219
  1,338
  1,454
  1,568
  1,680
  1,789
  1,896
  2,000
  2,102
  2,203
  2,304
  2,404
  2,505
  2,608
  2,712
  2,820
  2,930
  3,045
  3,165
  3,289
  3,420
  3,557
  3,702
  3,854
  4,014
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  382
  641
  750
  864
  982
  1,100
  1,219
  1,338
  1,454
  1,568
  1,680
  1,789
  1,896
  2,000
  2,102
  2,203
  2,304
  2,404
  2,505
  2,608
  2,712
  2,820
  2,930
  3,045
  3,165
  3,289
  3,420
  3,557
  3,702
  3,854
  4,014
Total cash flow (excl. dividends), $m
  14
  1,069
  1,176
  1,382
  1,606
  1,849
  2,108
  2,382
  2,672
  2,976
  3,293
  3,554
  3,897
  4,253
  4,622
  5,004
  5,399
  5,808
  6,232
  6,671
  7,126
  7,598
  8,088
  8,597
  9,126
  9,676
  10,249
  10,846
  11,468
  12,117
  12,795
Retained Cash Flow (-), $m
  -127
  -441
  -517
  -596
  -676
  -758
  -840
  -922
  -1,002
  -1,081
  -1,158
  -1,233
  -1,306
  -1,378
  -1,449
  -1,519
  -1,588
  -1,657
  -1,727
  -1,797
  -1,869
  -1,943
  -2,020
  -2,099
  -2,181
  -2,267
  -2,357
  -2,452
  -2,551
  -2,656
  -2,766
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  628
  659
  786
  930
  1,090
  1,267
  1,460
  1,670
  1,895
  2,135
  2,321
  2,590
  2,875
  3,173
  3,485
  3,811
  4,151
  4,505
  4,874
  5,257
  5,655
  6,068
  6,498
  6,945
  7,409
  7,892
  8,394
  8,917
  9,462
  10,029
Discount rate, %
 
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.42
  17.24
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
  28.09
  29.49
  30.97
  32.52
PV of cash for distribution, $m
 
  582
  562
  612
  655
  689
  712
  722
  719
  702
  672
  613
  566
  512
  454
  394
  335
  278
  225
  178
  138
  104
  76
  54
  38
  25
  17
  10
  6
  4
  2
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

CACI International Inc, together with its subsidiaries, provides information solutions and services in North America and internationally. The company offers business systems solutions in the areas of financial, human capital, asset and materials, and administrative management; develops, integrates, and operates command and control solutions; and develops and integrates solutions that deliver multi-level unified communications from the enterprise directly to and from the tactical edge. It also provides cyber security solutions, as well as supports cyber operations of intelligence community and Department of Defense. In addition, the company provides enterprise-wide information solutions and services for the design, development, integration, deployment, operations and management, sustainment, and security of its customersÂ’ IT solutions; and supports various initiatives that improves healthcare delivery systems, integrates electronic health records, improves health outcomes for communities, and enhances emergency responsiveness. Further, it provides intelligence services, such as cyber analytics, counterintelligence, and other services that help in the disruption of terrorist activities and counter the proliferation of weapons of mass destruction; and designs, develops, integrates, deploys, and prototypes hardware-and software-enabled tools and applications, as well as offers instrumentation signals intelligence systems. Additionally, the company provides investigation and litigation support services; logistics and material readiness solutions, and professional services; and data and software products, as well as integrates surveillance and reconnaissance technologies into platforms. It primarily serves the U.S. government, as well as other customers comprising state and local governments, commercial enterprises, and agencies of foreign governments. CACI International Inc was founded in 1962 and is headquartered in Arlington, Virginia.

FINANCIAL RATIOS  of  CACI International Cl A (CACI)

Valuation Ratios
P/E Ratio 19.7
Price to Sales 0.8
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 11.6
Price to Free Cash Flow 12.7
Growth Rates
Sales Growth Rate 13%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 23.5%
Cap. Spend. - 3 Yr. Gr. Rate 7%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 87.2%
Total Debt to Equity 90.6%
Interest Coverage 7
Management Effectiveness
Return On Assets 4.6%
Ret/ On Assets - 3 Yr. Avg. 4.7%
Return On Total Capital 5.1%
Ret/ On T. Cap. - 3 Yr. Avg. 5.3%
Return On Equity 9.3%
Return On Equity - 3 Yr. Avg. 9.6%
Asset Turnover 1
Profitability Ratios
Gross Margin 33.5%
Gross Margin - 3 Yr. Avg. 33.1%
EBITDA Margin 8.7%
EBITDA Margin - 3 Yr. Avg. 8.8%
Operating Margin 7.1%
Oper. Margin - 3 Yr. Avg. 7.1%
Pre-Tax Margin 6%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 3.8%
Net Profit Margin - 3 Yr. Avg. 3.8%
Effective Tax Rate 36.2%
Eff/ Tax Rate - 3 Yr. Avg. 37.2%
Payout Ratio 0%

CACI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CACI stock intrinsic value calculation we used $3744 million for the last fiscal year's total revenue generated by CACI International Cl A. The default revenue input number comes from 2016 income statement of CACI International Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CACI stock valuation model: a) initial revenue growth rate of 27.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.9%, whose default value for CACI is calculated based on our internal credit rating of CACI International Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CACI International Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CACI stock the variable cost ratio is equal to 92.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CACI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for CACI International Cl A.

Corporate tax rate of 27% is the nominal tax rate for CACI International Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CACI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CACI are equal to 7.4%.

Life of production assets of 41 years is the average useful life of capital assets used in CACI International Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CACI is equal to 9.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1607 million for CACI International Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 24.211 million for CACI International Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CACI International Cl A at the current share price and the inputted number of shares is $2.8 billion.


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