Intrinsic value of Science Applications International - SAIC

Previous Close

$71.20

  Intrinsic Value

$69.41

stock screener

  Rating & Target

hold

-3%

  Value-price divergence*

-56%

Previous close

$71.20

 
Intrinsic value

$69.41

 
Up/down potential

-3%

 
Rating

hold

 
Value-price divergence*

-56%

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

We calculate the intrinsic value of SAIC 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 2017), $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 3.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.13
  3.10
  3.29
  3.46
  3.61
  3.75
  3.88
  3.99
  4.09
  4.18
  4.26
  4.34
  4.40
  4.46
  4.52
  4.57
  4.61
  4.65
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
Revenue, $m
  4,450
  4,588
  4,739
  4,903
  5,080
  5,271
  5,475
  5,694
  5,927
  6,175
  6,438
  6,717
  7,013
  7,326
  7,657
  8,006
  8,375
  8,765
  9,175
  9,608
  10,063
  10,543
  11,048
  11,580
  12,140
  12,728
  13,347
  13,998
  14,683
  15,402
  16,159
Variable operating expenses, $m
 
  3,090
  3,188
  3,296
  3,412
  3,537
  3,670
  3,813
  3,966
  4,128
  4,301
  4,397
  4,591
  4,796
  5,012
  5,241
  5,483
  5,737
  6,006
  6,289
  6,588
  6,902
  7,232
  7,581
  7,947
  8,332
  8,737
  9,163
  9,611
  10,083
  10,578
Fixed operating expenses, $m
 
  1,238
  1,269
  1,301
  1,333
  1,367
  1,401
  1,436
  1,472
  1,509
  1,546
  1,585
  1,625
  1,665
  1,707
  1,750
  1,793
  1,838
  1,884
  1,931
  1,979
  2,029
  2,080
  2,132
  2,185
  2,240
  2,296
  2,353
  2,412
  2,472
  2,534
Total operating expenses, $m
  4,179
  4,328
  4,457
  4,597
  4,745
  4,904
  5,071
  5,249
  5,438
  5,637
  5,847
  5,982
  6,216
  6,461
  6,719
  6,991
  7,276
  7,575
  7,890
  8,220
  8,567
  8,931
  9,312
  9,713
  10,132
  10,572
  11,033
  11,516
  12,023
  12,555
  13,112
Operating income, $m
  271
  260
  281
  306
  335
  367
  404
  444
  489
  538
  591
  735
  798
  865
  938
  1,016
  1,099
  1,189
  1,285
  1,387
  1,496
  1,613
  1,736
  1,868
  2,008
  2,157
  2,315
  2,482
  2,660
  2,848
  3,047
EBITDA, $m
  324
  360
  381
  407
  436
  469
  506
  547
  592
  642
  696
  754
  818
  886
  960
  1,039
  1,124
  1,214
  1,311
  1,415
  1,525
  1,643
  1,768
  1,901
  2,043
  2,193
  2,353
  2,522
  2,702
  2,892
  3,094
Interest expense (income), $m
  48
  46
  48
  51
  54
  57
  60
  63
  67
  71
  75
  79
  84
  89
  94
  100
  106
  112
  119
  125
  133
  140
  149
  157
  166
  175
  185
  196
  207
  218
  230
Earnings before tax, $m
  220
  214
  233
  255
  281
  311
  344
  381
  422
  467
  516
  656
  713
  776
  843
  916
  994
  1,077
  1,166
  1,262
  1,364
  1,472
  1,588
  1,711
  1,842
  1,981
  2,129
  2,286
  2,453
  2,630
  2,817
Tax expense, $m
  72
  58
  63
  69
  76
  84
  93
  103
  114
  126
  139
  177
  193
  210
  228
  247
  268
  291
  315
  341
  368
  397
  429
  462
  497
  535
  575
  617
  662
  710
  761
Net income, $m
  148
  156
  170
  186
  205
  227
  251
  278
  308
  341
  377
  479
  521
  566
  616
  669
  725
  786
  851
  921
  995
  1,075
  1,159
  1,249
  1,345
  1,446
  1,554
  1,669
  1,791
  1,920
  2,056

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  210
  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
  2,042
  2,010
  2,077
  2,149
  2,226
  2,310
  2,399
  2,495
  2,597
  2,706
  2,821
  2,943
  3,073
  3,210
  3,355
  3,508
  3,670
  3,841
  4,021
  4,210
  4,410
  4,620
  4,842
  5,075
  5,320
  5,578
  5,849
  6,134
  6,434
  6,750
  7,081
Adjusted assets (=assets-cash), $m
  1,832
  2,010
  2,077
  2,149
  2,226
  2,310
  2,399
  2,495
  2,597
  2,706
  2,821
  2,943
  3,073
  3,210
  3,355
  3,508
  3,670
  3,841
  4,021
  4,210
  4,410
  4,620
  4,842
  5,075
  5,320
  5,578
  5,849
  6,134
  6,434
  6,750
  7,081
Revenue / Adjusted assets
  2.429
  2.283
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
  2.282
Average production assets, $m
  278
  284
  294
  304
  315
  327
  339
  353
  367
  383
  399
  416
  435
  454
  475
  496
  519
  543
  569
  596
  624
  654
  685
  718
  753
  789
  828
  868
  910
  955
  1,002
Working capital, $m
  286
  106
  109
  113
  117
  121
  126
  131
  136
  142
  148
  154
  161
  168
  176
  184
  193
  202
  211
  221
  231
  242
  254
  266
  279
  293
  307
  322
  338
  354
  372
Total debt, $m
  1,047
  1,074
  1,130
  1,192
  1,258
  1,329
  1,406
  1,487
  1,574
  1,667
  1,765
  1,870
  1,980
  2,097
  2,221
  2,352
  2,490
  2,635
  2,789
  2,950
  3,121
  3,300
  3,489
  3,688
  3,897
  4,117
  4,348
  4,592
  4,847
  5,116
  5,399
Total liabilities, $m
  1,688
  1,715
  1,771
  1,833
  1,899
  1,970
  2,047
  2,128
  2,215
  2,308
  2,406
  2,511
  2,621
  2,738
  2,862
  2,993
  3,131
  3,276
  3,430
  3,591
  3,762
  3,941
  4,130
  4,329
  4,538
  4,758
  4,989
  5,233
  5,488
  5,757
  6,040
Total equity, $m
  354
  296
  305
  316
  327
  340
  353
  367
  382
  398
  415
  433
  452
  472
  493
  516
  540
  565
  591
  619
  648
  679
  712
  746
  782
  820
  860
  902
  946
  992
  1,041
Total liabilities and equity, $m
  2,042
  2,011
  2,076
  2,149
  2,226
  2,310
  2,400
  2,495
  2,597
  2,706
  2,821
  2,944
  3,073
  3,210
  3,355
  3,509
  3,671
  3,841
  4,021
  4,210
  4,410
  4,620
  4,842
  5,075
  5,320
  5,578
  5,849
  6,135
  6,434
  6,749
  7,081
Debt-to-equity ratio
  2.958
  3.630
  3.700
  3.770
  3.840
  3.910
  3.990
  4.060
  4.120
  4.190
  4.260
  4.320
  4.380
  4.440
  4.500
  4.560
  4.610
  4.670
  4.720
  4.770
  4.810
  4.860
  4.900
  4.940
  4.980
  5.020
  5.060
  5.090
  5.130
  5.160
  5.190
Adjusted equity ratio
  0.079
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  148
  156
  170
  186
  205
  227
  251
  278
  308
  341
  377
  479
  521
  566
  616
  669
  725
  786
  851
  921
  995
  1,075
  1,159
  1,249
  1,345
  1,446
  1,554
  1,669
  1,791
  1,920
  2,056
Depreciation, amort., depletion, $m
  53
  100
  100
  100
  101
  101
  102
  103
  103
  104
  105
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  30
  32
  33
  35
  37
  38
  40
  42
  44
  47
Funds from operations, $m
  328
  256
  270
  287
  306
  328
  353
  381
  411
  445
  481
  498
  541
  588
  638
  692
  750
  812
  878
  949
  1,024
  1,105
  1,191
  1,282
  1,380
  1,483
  1,593
  1,709
  1,833
  1,964
  2,103
Change in working capital, $m
  55
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  12
  12
  13
  14
  14
  15
  16
  17
  17
Cash from operations, $m
  273
  253
  267
  283
  302
  324
  349
  376
  406
  439
  475
  492
  534
  580
  630
  684
  741
  803
  868
  939
  1,014
  1,094
  1,179
  1,270
  1,367
  1,470
  1,579
  1,694
  1,817
  1,948
  2,086
Maintenance CAPEX, $m
  0
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -32
  -33
  -35
  -37
  -38
  -40
  -42
  -44
New CAPEX, $m
  -17
  -7
  -9
  -10
  -11
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -45
  -47
Cash from investing activities, $m
  -11
  -20
  -22
  -24
  -25
  -27
  -28
  -30
  -30
  -32
  -34
  -36
  -37
  -39
  -42
  -44
  -46
  -48
  -50
  -53
  -56
  -59
  -61
  -65
  -68
  -71
  -75
  -78
  -82
  -87
  -91
Free cash flow, $m
  262
  233
  244
  259
  277
  298
  321
  347
  375
  407
  441
  456
  497
  541
  588
  640
  695
  754
  818
  886
  958
  1,035
  1,118
  1,205
  1,299
  1,398
  1,504
  1,616
  1,734
  1,861
  1,994
Issuance/(repayment) of debt, $m
  -27
  52
  56
  61
  66
  71
  76
  82
  87
  93
  98
  104
  111
  117
  124
  131
  138
  146
  153
  162
  170
  179
  189
  199
  209
  220
  231
  243
  256
  269
  283
Issuance/(repurchase) of shares, $m
  -175
  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  
  -193
  52
  56
  61
  66
  71
  76
  82
  87
  93
  98
  104
  111
  117
  124
  131
  138
  146
  153
  162
  170
  179
  189
  199
  209
  220
  231
  243
  256
  269
  283
Total cash flow (excl. dividends), $m
  69
  285
  300
  321
  343
  369
  397
  428
  462
  499
  540
  560
  607
  658
  712
  771
  833
  900
  971
  1,047
  1,128
  1,215
  1,307
  1,404
  1,508
  1,618
  1,735
  1,859
  1,990
  2,130
  2,277
Retained Cash Flow (-), $m
  26
  -9
  -10
  -11
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -49
Prev. year cash balance distribution, $m
 
  67
  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
 
  343
  291
  310
  332
  357
  384
  414
  447
  483
  523
  542
  588
  638
  691
  748
  809
  875
  945
  1,019
  1,099
  1,184
  1,274
  1,370
  1,472
  1,580
  1,695
  1,817
  1,946
  2,083
  2,228
Discount rate, %
 
  8.30
  8.72
  9.15
  9.61
  10.09
  10.59
  11.12
  11.68
  12.26
  12.88
  13.52
  14.20
  14.91
  15.65
  16.43
  17.26
  18.12
  19.02
  19.97
  20.97
  22.02
  23.12
  24.28
  25.49
  26.77
  28.11
  29.51
  30.99
  32.54
  34.16
PV of cash for distribution, $m
 
  317
  246
  238
  230
  221
  210
  198
  185
  171
  156
  134
  120
  105
  90
  76
  63
  52
  41
  32
  24
  18
  13
  9
  6
  4
  3
  2
  1
  1
  0
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

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services in the United States. The company’s offerings include engineering, technology and equipment platform integration, logistics, training and simulation, as well as operation and program support services; and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment, and security of its customers’ IT infrastructure. It serves the U.S. military comprising Army, Air Force, Navy, Marines, and Coast Guard; the U.S. Defense Logistics Agency; the National Aeronautics and Space Administration; the U.S. Department of State; and the U.S. Department of Homeland Security. The company was formerly known as SAIC Gemini, Inc. and changed its name to Science Applications International Corporation in September 2013. Science Applications International Corporation was founded in 1969 and is headquartered in McLean, Virginia.

FINANCIAL RATIOS  of  Science Applications International (SAIC)

Valuation Ratios
P/E Ratio 21.2
Price to Sales 0.7
Price to Book 8.8
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow 12.2
Growth Rates
Sales Growth Rate 3.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15%
Cap. Spend. - 3 Yr. Gr. Rate 1.2%
Financial Strength
Quick Ratio 8
Current Ratio 0.1
LT Debt to Equity 288.7%
Total Debt to Equity 295.8%
Interest Coverage 6
Management Effectiveness
Return On Assets 8.7%
Ret/ On Assets - 3 Yr. Avg. 9.1%
Return On Total Capital 10.4%
Ret/ On T. Cap. - 3 Yr. Avg. 12.4%
Return On Equity 40.3%
Return On Equity - 3 Yr. Avg. 37.2%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 10%
Gross Margin - 3 Yr. Avg. 9.4%
EBITDA Margin 7.2%
EBITDA Margin - 3 Yr. Avg. 6.8%
Operating Margin 6.1%
Oper. Margin - 3 Yr. Avg. 5.8%
Pre-Tax Margin 4.9%
Pre-Tax Margin - 3 Yr. Avg. 5%
Net Profit Margin 3.3%
Net Profit Margin - 3 Yr. Avg. 3.2%
Effective Tax Rate 32.7%
Eff/ Tax Rate - 3 Yr. Avg. 35.2%
Payout Ratio 36.5%

SAIC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SAIC stock intrinsic value calculation we used $4450 million for the last fiscal year's total revenue generated by Science Applications International. The default revenue input number comes from 2017 income statement of Science Applications International. 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 SAIC stock valuation model: a) initial revenue growth rate of 3.1% 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 8.3%, whose default value for SAIC is calculated based on our internal credit rating of Science Applications International, 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 Science Applications International.
    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 SAIC stock the variable cost ratio is equal to 67.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1208 million in the base year in the intrinsic value calculation for SAIC 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 4.5% for Science Applications International.

Corporate tax rate of 27% is the nominal tax rate for Science Applications International. 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 SAIC 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 SAIC are equal to 6.2%.

Life of production assets of 21.5 years is the average useful life of capital assets used in Science Applications International 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 SAIC is equal to 2.3%. 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 - $354 million for Science Applications International - 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 42.732 million for Science Applications International 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 Science Applications International at the current share price and the inputted number of shares is $3.0 billion.

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COMPANY NEWS

▶ SAIC Awarded $39 Million Task Order by SSC Atlantic   [Aug-16-17 06:30AM  Business Wire]
▶ Why Investors Gave SAIC an F in Q1   [Jul-07-17 02:00PM  Motley Fool]
▶ Story Stocks from Briefing.com   [09:55AM  Briefing.com]
▶ Top 10 Most Expensive Cities in the U.S.   [06:00AM  Investopedia]
▶ SAIC tops 1Q profit forecasts   [04:20PM  Associated Press]
▶ SAIC to move corporate HQ to Reston, hire COO   [09:44AM  American City Business Journals]
▶ Industry vet named CEO of Harris IT spinoff   [Jun-06-17 09:20AM  American City Business Journals]
▶ Why SAIC and other government services firms are setting up remote IT shops   [May-24-17 04:12PM  American City Business Journals]
▶ SAIC Awarded $320 Million EPA Task Order   [May-18-17 06:30AM  Business Wire]
▶ SAIC Awarded $61 Million Task Order by SSC Atlantic   [May-11-17 06:30AM  Business Wire]
▶ SAIC to Hold Annual Meeting of Stockholders on June 7, 2017   [May-05-17 06:30AM  Business Wire]
▶ SAIC Awarded Marine Forces Cyberspace Command Task Order   [May-03-17 06:30AM  Business Wire]
▶ SAIC CEO saw pay bump in company's year as a Wall Street 'darling'   [Apr-27-17 02:20PM  American City Business Journals]
▶ These Greater Washington companies may be most affected by Trump's tax reform   [Apr-26-17 03:39PM  American City Business Journals]
▶ SAIC welcomes 'slightly more favorable business' climate under Trump   [03:10PM  American City Business Journals]
▶ SAIC misses Street 4Q forecasts   [06:42AM  Associated Press]
▶ PlanetRisk hires CFO to help aggressive growth strategy   [Mar-09-17 03:00PM  at bizjournals.com]
▶ Moodys: PAE, DynCorp could take big hit from State Department cuts   [Mar-02-17 03:05PM  at bizjournals.com]
▶ SAIC Awarded Contract by Defense Logistics Agency   [Feb-23-17 06:30AM  Business Wire]
▶ Maryland IT firm to add 100 jobs, expand HQ   [01:50PM  at bizjournals.com]
Financial statements of SAIC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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