Cash at CACI International rose 110.0% to USD 279m in a year

CACI International, a US contractor selling technology and services, mainly to government, ended Q3 2026 with cash of USD 279m, up from USD 133m a year earlier. Revenue for the quarter was USD 2.5bn, 8.2% more than in Q3 2025, and operating profit rose to USD 248m from USD 212m. Net profit moved far less, to USD 130m from USD 125m. So the cash did not come from a sudden jump in earnings.

The balance sheet points elsewhere. Total assets grew to USD 11.9bn from USD 8.7bn, while equity rose only to USD 4.6bn from USD 4.0bn. The equity ratio, the share of assets funded by owners, fell to 38.7% from 46.2%. Most of the added funding therefore came from liabilities, not from retained profit. The accounts do not say what that funding paid for. Cash rose, but the owners' cushion got thinner, and I would watch the liabilities line.