Science Applications International Corporation (SAIC)

Industry: Information Technology Services Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
023590.KS	19	Daou Technology In	10,530	3.56	3.25	16.48	14.56	16.17	17.86
032190.KQ	20	Daou Data Corp.	10,433	3.98	3.37	13.98	11.05	15.60	18.42
WIPRO.BO	21	Wipro Limited	9,923	18.54	17.33	11.43	10.59	16.74	15.63
CNXC	22	Concentrix Corpora	9,721	10.57	8.88	9.28	8.59	13.30	11.07
0O1S.L	23	Alten S.A.	9,685	6.62	5.55	3.09	2.48	4.88	3.90
018260.KS	24	Samsung SDS Co.,Lt	9,507	16.43	15.20	5.73	5.33	12.67	12.41
CACI	25	CACI International	8,859	21.75	20.18	13.88	12.53	16.53	16.00
SAIC	26	Science Applicatio	7,350	11.80	10.49	6.79	6.53	8.79	8.00
0A6Y.L	27	Xerox Holdings Cor	6,607	-	-	49.44	78.91	-	-
ECONB.BR	28	Econocom Group SE	6,469	0.18	0.18	1.09	1.04	1.93	1.20
IT	29	Gartner, Inc.	6,460	22.23	16.74	14.55	12.57	53.70	15.62
603613.SS	30	Beijing United Inf	6,438	14.48	10.12	7.89	5.33	7.46	5.76
TECHM.BO	31	Tech Mahindra Limi	5,983	27.71	27.06	15.72	14.85	6.14	8.26
EPAM	32	EPAM Systems, Inc.	5,298	22.54	21.83	11.11	10.42	11.69	13.02
4307.T	33	Nomura Research In	5,043	31.99	28.16	16.95	15.15	20.29	20.30
G	34	Genpact Limited	5,009	13.35	11.94	9.05	8.43	10.47	9.72

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.92	11.03	11.11	10.42	12.18	11.74
Full Range Median Multiple	15.45	13.57	11.43	10.59	12.98	12.72
Industry Multiple	15.28	13.56	13.31	14.12	14.83	12.08
Market Implied Multiple	13.99	12.44	8.02	7.71	10.38	9.45
Company (SAIC) Multiple	11.80	10.49	6.79	6.53	8.79	8.00
(*) Net Income / EBITDA / Revenue	371	417	663	690	512	563
Winsorized Enterprise Value	N/A	N/A	7,365	7,188	6,234	6,605
Full Range Median Enterprise Value	N/A	N/A	7,575	7,305	6,647	7,154
(-) Net Debt	126	126	126	126	126	126
Winsorized Equity Value	5,163	4,603	7,239	7,062	6,108	6,479
Full Range Median Equity Value	5,733	5,662	7,449	7,179	6,521	7,028
(/) Shares Outstanding	47	47	47	47	47	47
Winsorized Fair Value	$110.55	$98.56	$155.00	$151.23	$130.79	$138.75
Full Range Median Fair Value	$122.76	$121.25	$159.51	$153.73	$139.63	$150.49
Current Price	$111.13	$111.13	$111.13	$111.13	$111.13	$111.13
Upside / Downside	-0.52%	-11.31%	39.48%	36.08%	17.69%	24.85%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$77.38	$68.99	$108.50	$105.86	$91.55	$97.12
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy