CACI International Inc (CACI)

Financial leverage ratio

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Total assets	US$ in thousands	8,647,600	8,580,080	8,548,500	7,183,060	6,796,100	6,804,380	6,658,440	6,737,470	6,600,810	6,651,560	6,554,550	6,524,880	6,629,430	6,576,750	6,750,690	6,179,310	6,172,370	5,970,420	5,851,480	5,950,370
Total stockholders’ equity	US$ in thousands	3,893,940	3,704,450	3,728,370	3,651,610	3,518,070	3,365,230	3,235,490	3,164,030	3,224,200	3,089,500	3,250,110	3,148,440	3,053,410	2,960,750	2,845,580	2,755,120	2,665,280	2,519,390	2,884,280	2,771,770
Financial leverage ratio		2.22	2.32	2.29	1.97	1.93	2.02	2.06	2.13	2.05	2.15	2.02	2.07	2.17	2.22	2.37	2.24	2.32	2.37	2.03	2.15

June 30, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $8,647,600K ÷ $3,893,940K
= 2.22

The financial leverage ratio of CACI International Inc exhibits notable fluctuations over the analyzed period from September 30, 2020, to June 30, 2025. Initially, at the end of September 2020, the ratio stood at 2.15, indicating that the company's total assets were approximately twice its equity, which aligns with a moderate leverage position. The ratio declined slightly to 2.03 by December 31, 2020, suggesting a transient reduction in leverage levels, possibly due to repayment of debt or increased equity financing.

Subsequently, the ratio increased again, reaching a peak of 2.37 in March 2021 and remaining relatively elevated through the first half of 2021, signaling a period of higher leverage. This elevated ratio persisted through September 2021 (2.24) and December 2021 (2.37), indicating consistent leverage levels above the initial 2020 figures.

From early 2022 onwards, the ratio demonstrated a downward trend, declining to 2.22 in March 2022 and further decreasing to approximately 2.17 by June 2022 and 2.07 by September 2022. This suggests a gradual reduction in financial leverage, potentially reflecting debt repayment strategies or a shift in capital structure towards greater equity.

The trend continued into late 2022, with the ratio reaching 2.02 at year's end, indicating a further decrease in leverage. In 2023, the ratio experienced minor fluctuations, oscillating around 2.13 in September 2023 and 2.06 in December 2023. In the first half of 2024, there was a notable decline to a low of 1.93 in June 2024, implying an even more conservative leverage stance.

However, from mid-2024 onward, the ratio increased again to 2.29 at the end of 2024 and remained elevated at 2.32 in March 2025, with a slight decrease to 2.22 in June 2025. These recent increases suggest a modest rise in leverage, potentially reflecting new borrowing or changes in asset or equity structure.

Overall, the leverage ratio demonstrates a cyclical pattern of rising to higher levels in early 2021 and then declining through 2022 and mid-2024, before modestly increasing again into the first half of 2025. This indicates that CACI International has maintained a generally moderate level of financial leverage, with periods of higher and lower leverage possibly driven by strategic financing decisions, asset management, and market conditions. The long-term average appears to hover around 2.1, reflecting a balanced approach to leveraging assets for operational or expansion purposes.