CACI · CIK 16058
What CACI International Inc told the SEC could break it.
CACI's disclosures are dominated by a single customer: the U.S. federal government, which provided 95.7% of fiscal 2025 revenue as prime or subcontractor, about three-quarters of it defense and intelligence work, with its top ten contracts alone making up 46.4% of revenue. That concentration ties its fortunes to federal budget priorities and spending levels — actions to address deficits or the national debt could directly cut revenue — and to extensive contracting rules like the FAR and GSA schedules, where a compliance breach can mean added costs or lost contracts. Its small International Operations in the U.K. and Netherlands, about 3% of revenue, add modest exposure to the British pound and euro.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- ~95.7% of revenue from US federal government; top ten contracts = 46.4%high
CACI derives substantially all revenue from the US federal government (95.7% in fiscal 2025, as prime or subcontractor), with ~75% defense/IC-related and its top ten contracts accounting for 46.4% of revenue ($4.0B); a significant decrease or cessation of federal business would materially harm it.
“The federal government is our primary customer, with revenues from federal government contracts, either as a prime contractor or a subcontractor, accounting for 95.7% and 95.1% of our total revenues in fiscal 2025 and 2024, respectively.”
SEC filing →As of 2025
Regulatory & policy
- federal budget priorities/spending levels and government-contract compliancemedium
CACI's performance depends on federal budgetary priorities and spending levels — changes to address deficits, the national debt or economic conditions could directly hurt revenue — and it must comply with extensive federal-contracting laws (FAR, GWACs/GSA schedules) whose breach imposes added costs or contract loss.
“Because we derive substantially all of our revenues from contracts with the federal government, we believe that the success and development of our business will continue to depend on our successful participation in federal government contract programs. Changes in federal government budgetary priorities, such as for homeland security or to address global pandemics, or actions taken to address government budget deficits, the national debt, or prevailing economic conditions, could directly affect our financial performance.”
SEC filing →As of 2025
Currency (FX)
- British pound and Euro exposure from UK/Netherlands International Operations (3% of revenue)low
CACI's International Operations (3% of revenue), conducted mainly through UK and Netherlands subsidiaries, expose it to fluctuations in the British pound and Euro, longer payment cycles, and foreign tax/regulatory/political changes.
“We conduct the majority of our International Operations in the U.K. and the Netherlands. As a percentage of our total revenues, our International Operations generated 3.0% and 3.0% in fiscal 2025 and 2024, respectively. Our International Operations are subject to risks associated with operating in a foreign country. These risks include fluctuations in the value of the British pound and the Euro, longer payment cycles, changes in foreign tax laws and regulations, and unexpected legislative, regulatory, economic or political changes.”
SEC filing →As of 2025
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