Fiscal year 2021 will be remembered as a year of unprecedented challenges as a result of the COVID-19 pandemic. Despite the challenges, SAIC was steadfast and made substantial progress in our strategic transformation and delivered strong financial and operational performance. Throughout a year with disruptions, our 26,000+ employees remained focused and committed to supporting our customers’ critical missions.
Dear Fellow Stockholders,
Annual Report
Fiscal Year 2021 Annual Report
FISCAL
Year 2021
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Nazzic S. Keene
Chief Executive Officer
Solid Financial Performance
In FY21, SAIC delivered revenue growth, strong profitability, and solid cash generation. Revenues grew 11% and adjusted EBITDA margin grew by 50 basis points to 8.9%. We delivered $524 million of free cash flow (excluding sale of receivables), and our solid cash generation enabled us to reduce debt by $400 million and distribute $106 million to our shareholders through dividends and share repurchases. Net bookings of
$12 billion increased our book-to-bill ratio to 1.7, and our contract backlog increased 40% to $21.5 billion.
REvenue
11%
REvenue
Growth
FY21
FY20
FY19
$7.1B
$6.4B
$4.7B
Donna S. Morea
Chair of the board
#5 Government Technology Contractors
Washington Business Journal, March 2020
#16 Bloomberg Government
Top 200
June 2020
#11 Washington Technology Top 100
September 2020
Flexjobs.com, January 2021
Top 100 Companies for
Flexible Jobs
#1 vendor, americas
Government IT Services for Application Managed Services
#2 vendor, U.S.
for Managed Services and Cloud Infrastructure Services
#3 U.S. Federal Government IT Services for Consulting + Implementation
gartner rankings
LEFT: Donna S. Morea, Chair of the Board
RIGHT: Nazzic S. Keene, Chief Executive Officer
FY21
FY20
FY19
$524M
$437M
$156M
Increase from Prior year
$87M
Free Cash Flow *
* excluding sale of receivables
FY21
FY20
FY19
1.7
1.2
1.0
In Net
Bookings
$12B
Book-To-Bill
FY21
FY20
FY19
$21.5B
$15.3B
$13.8B
Increase From Prior Year
40%
Total Backlog
FY21
FY20
FY19
8.9%
8.4%
7.6%
BASIS POINTS HIGHER
FROM FY20
50
Adjusted EBITDA Margin
FY21
FY20
FY19
26K+
25K+
23K+
26k+
Employees
11%
Shareholder
Return
SAIC’s employees are the growth engine of our success. In FY21, we made commitments to enhance our employees’ experience, introduced programs to recruit and retain a new generation of employees, and strengthened our community involvement through corporate social responsibility. In parallel, we fully embraced calls for racial equity and updated our values to drive cultural change. We also appointed a Diversity, Equity & Inclusion Officer and increased our leadership diversity.
People and Culture
63%
60%
270
2
2,000
$700k
63% of Executive Leaders ARE Female and/or PEOPLE OF COLOR
60% OF THE BOARD OF DIRECTORS ARE FEMALE
AND/OR PEOPLE OF COLOR
BEST PLACES TO WORK
FOR LGBTQ EQUALITY
AMERICA'S BEST EMPLOYERS
FOR DIVERSITY
AMERICA'S BEST EMPLOYERS
FOR VETERANS
FORTUNE 500
WORLD’S MOST ADMIRED
COMPANIES
Donated
2,000 backpacks
With School Supplies
270 HOLIDAY WISH LISTS
Fulfilled
For Children
2 MORTGAGE-FREE HOMES
Donated To Wounded Veterans
Donated $700,000 TO SUPPORT
K THROUGH COLLEGE
The COVID-19 pandemic affected the daily lives of everyone across the nation, marking our country with incredible tragedy and tremendous loss. Although these circumstances presented challenges, we quickly and efficiently shifted to a remote work environment and focused on three immediate priorities: protecting our employees’ health and safety, continued performance for our customers, and helping our communities.
COVID-19 Response
Employees
Customers
Communities
EMPLOYEES
The safety and wellbeing of our employees is core to our operations. However, the pandemic has undeniably changed how we work and live.
Paid Time off
Created leave bank and donated
$3 million worth of PTO for SAIC colleagues in need
Established non-profit organization for employees and dependents to provide emergency funds when hardships arise due to federally-declared natural disasters
Paid Time off
Provided wellbeing and mental health
resources to employees at no cost
Mental & Physical Health
Provided 650+ tutoring sessions for school-age children to assist with distance learning*
*Program began on Sept. 28, 2020
DISTance learning
Created NASA’s virtual environment enabling employees to work remotely
NASA
Delivered IT infrastructure support for the U.S. Navy hospital ships USNS Comfort and Mercy
Paid Time off
Enabled 96% of all 2020 U.S. Air Force pilot trainees to remotely complete required training
U.S. Air Force
Provided technology support to Operation Warp Speed to develop the COVID-19 vaccine
operation
warp speed
The critical work SAIC employees perform enables our customers to operate seamlessly in a virtual environment.
Customers
Comfort + Mercy
Donated more than 5 million meals to families in need
Donated reliable internet to underprivileged communities
Paid Time off
Mobile WIFI Trailers
Donated $250,000 to U.S. Space & Rocket Center’s Space Camp so that it continues to operate
EDUCATIONAL
PROGRAMS
Sponsored VA Ready to support 15,000 under- or unemployed
Virginia residents in finding work
JOB RECOVERY
We expanded our community support by helping those in need.
Communities
Employees
Customers
Communities
Employees
Customers
Communities
Employees
Customers
Communities
Wanted
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We are optimistic about SAIC’s future as we transform to meet market dynamics, anticipate customers’ future needs, and attract top talent. Our employees, shareholders, and customers expect it, and our own ambitions demand it. We are confident in our bright future and look forward to a healthy and successful FY22. With our values as our guide and driven by purpose, let’s bring on tomorrow.