<p>科學應用國際公司（SAIC）在其 2025 財年第四季度的財報中表現出色，收入實現了 5.8% 的有機增長，遠超預期。這一增長證明了公司戰略舉措和運營效率的有效性，使其在技術集成領域中佔據了領先地位。讓我們深入瞭解這一出色表現背後的因素。</p>
<p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a63e68f66420001.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a63e68f66420001.png"/></p>
<p>收入激增：深入分析</p>
<p>SAIC 在 2025 財年第四季度的收入達到了 18.4 億美元，同比增長 5.8%。考慮到公司歷史表現，這一增長尤為引人注目。在 2024 財年第四季度，SAIC 報告的有機增長為 7.7%，但這受到剝離和前一年額外工作日的重大影響。相比之下，2025 財年第四季度的 5.8% 有機增長則是更為自然和可持續的增長，主要得益於 “新合同和現有合同的業務量增加，部分被合同完成所抵消。” 這表明 SAIC 的增長是由於業務活動和合同贏得的增加，而非一次性事件或剝離。</p>
<p>利潤率擴張：關鍵驅動因素</p>
<p>2025 財年第四季度顯著的利潤率擴張源於幾個關鍵驅動因素：</p>
<p>1. 合同組合盈利能力改善：SAIC 報告稱 “本季度的營業收入佔收入的比例從上年同期的 4.5% 提高至 7.5%，主要得益於我們合同組合盈利能力的改善。” 這表明公司能夠更有效地管理其合同，從而提高了利潤率。</p>
<p>2. 激勵性薪酬支出降低：公司提到 “激勵性薪酬支出降低” 對利潤率擴張有所貢獻。這表明成本管理舉措，特別是在降低可變薪酬成本方面，發揮了重要作用。</p>
<p>3. 股票薪酬降低：重組和高管過渡也導致 “與重組和高管過渡相關的股票薪酬降低”，進一步促進了利潤率的改善。</p>
<p>4. 調整後 EBITDA 利潤率提高：本季度的調整後 EBITDA 利潤率為 9.6%，而上年同期為 7.3%。這一增長主要歸因於上述因素，表明運營表現強勁。</p>
<p>未來收入可見性：18 億美元合同的贏得</p>
<p>18 億美元的系統軟件生命週期工程合同的贏得顯著增強了 SAIC 未來的收入可見性和增長前景。SAIC 首席執行官 Toni Townes-Whitley 將該合同稱為 “我們近年來最大的重新競爭勝利”。這一勝利，加上約 200 億美元的待提交投標的積壓，反映了 SAIC 在公司內部所建立的勢頭。這一重要合同不僅提供了即時收入，還增強了公司對未來收益的預測能力。首席執行官的聲明 “這一重要勝利以及約 200 億美元的待提交投標的積壓反映了我們在公司內部所建立的勢頭” 強調了該合同在確保長期增長和穩定性方面的戰略重要性。</p>
<p>結論</p>
<p>SAIC 的 2025 財年第四季度財報清晰地表明瞭公司在戰略能力和運營效率方面的優勢。5.8% 的收入有機增長，加上顯著的利潤率擴張，使 SAIC 在技術集成領域中佔據了領先地位。18 億美元的合同贏得進一步增強了公司的未來收入可見性和增長前景，使其成為一個引人注目的投資機會。隨着 SAIC 繼續執行其戰略，投資者可以期待在未來幾個季度持續的增長和盈利能力。</p>

科學應用國際

<p>科學應用國際公司（SAIC）公佈了強勁的 2025 財年第四季度財報， organic revenue 增長 5.8%，達到 18.4 億美元。這一增長歸因於業務活動的增加和新合同的獲得，而非一次性事件。利潤擴張的主要驅動因素包括合同盈利能力的改善、激勵性薪酬的降低，以及調整後的 EBITDA 利潤率提高至 9.6%。最近獲得的 18 億美元合同提升了未來收入的可見性，反映了 SAIC 的戰略舉措和運營效率，使其在技術集成領域中處於領先地位</p>

<p>Science Applications International Corporation (SAIC) has delivered a stunning performance in its Q4 FY25 earnings report, crushing estimates with a 5.8% organic growth in revenues. This surge is a testament to the company's strategic initiatives and operational efficiency, which have positioned it as a leader in the technology integration sector. Let's dive into the details and understand the factors driving this impressive performance.</p>
<div class="lb-trans"><p>科學應用國際公司（SAIC）在其 2025 財年第四季度的財報中表現出色，收入實現了 5.8% 的有機增長，遠超預期。這一增長證明了公司戰略舉措和運營效率的有效性，使其在技術集成領域中佔據了領先地位。讓我們深入瞭解這一出色表現背後的因素。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a63e68f66420001.png" alt="" original-src="https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a63e68f66420001.png"/></p>
<p>The Revenue Surge: A Closer Look</p>
<div class="lb-trans"><p>收入激增：深入分析</p>
</div><p>SAIC's Q4 FY25 revenues reached $1.84 billion, marking a 5.8% organic growth year-over-year. This growth is particularly noteworthy given the company's historical performance. In Q4 FY24, saic reported a 7.7% organic growth, but this was heavily influenced by divestitures and additional working days in the prior year. In contrast, the 5.8% organic growth in Q4 FY25 is a more organic and sustainable increase, driven by a &#34;ramp up in volume on new and existing contracts, partially offset by contract completions.&#34; This indicates that SAIC's growth is being driven by increased business activity and contract wins, rather than one-time events or divestitures.</p>
<div class="lb-trans"><p>SAIC 在 2025 財年第四季度的收入達到了 18.4 億美元，同比增長 5.8%。考慮到公司歷史表現，這一增長尤為引人注目。在 2024 財年第四季度，SAIC 報告的有機增長為 7.7%，但這受到剝離和前一年額外工作日的重大影響。相比之下，2025 財年第四季度的 5.8% 有機增長則是更為自然和可持續的增長，主要得益於 “新合同和現有合同的業務量增加，部分被合同完成所抵消。” 這表明 SAIC 的增長是由於業務活動和合同贏得的增加，而非一次性事件或剝離。</p>
</div><p>Margin Expansion: The Key Drivers</p>
<div class="lb-trans"><p>利潤率擴張：關鍵驅動因素</p>
</div><p>The significant margin expansion in Q4 FY25 is a result of several key drivers:</p>
<div class="lb-trans"><p>2025 財年第四季度顯著的利潤率擴張源於幾個關鍵驅動因素：</p>
</div><p>1. Improved Profitability Across Contract Portfolio: SAIC reported that &#34;operating income as a percentage of revenues increased to 7.5% for the quarter as compared to 4.5% in the comparable prior year period primarily due to improved profitability across our contract portfolio.&#34; This indicates that the company has been able to manage its contracts more efficiently, leading to higher margins.</p>
<div class="lb-trans"><p>1. 合同組合盈利能力改善：SAIC 報告稱 “本季度的營業收入佔收入的比例從上年同期的 4.5% 提高至 7.5%，主要得益於我們合同組合盈利能力的改善。” 這表明公司能夠更有效地管理其合同，從而提高了利潤率。</p>
</div><p>2. Lower Incentive-Based Compensation Expense: The company mentioned that &#34;lower incentive-based compensation expense&#34; contributed to the margin expansion. This suggests that cost management initiatives, particularly in reducing variable compensation costs, have played a significant role in improving profitability.</p>
<div class="lb-trans"><p>2. 激勵性薪酬支出降低：公司提到 “激勵性薪酬支出降低” 對利潤率擴張有所貢獻。這表明成本管理舉措，特別是在降低可變薪酬成本方面，發揮了重要作用。</p>
</div><p>3. Lower Stock-Based Compensation: The restructuring and executive transition also led to &#34;lower stock-based compensation related to the restructuring and executive transition,&#34; which further contributed to the margin improvement.</p>
<div class="lb-trans"><p>3. 股票薪酬降低：重組和高管過渡也導致 “與重組和高管過渡相關的股票薪酬降低”，進一步促進了利潤率的改善。</p>
</div><p>4. Higher Adjusted EBITDA Margin: The adjusted EBITDA margin for the quarter was 9.6%, compared to 7.3% for the prior year quarter. This increase was primarily due to the factors mentioned above, indicating a strong operational performance.</p>
<div class="lb-trans"><p>4. 調整後 EBITDA 利潤率提高：本季度的調整後 EBITDA 利潤率為 9.6%，而上年同期為 7.3%。這一增長主要歸因於上述因素，表明運營表現強勁。</p>
</div><p>Future Revenue Visibility: The $1.8 Billion Contract Win</p>
<div class="lb-trans"><p>未來收入可見性：18 億美元合同的贏得</p>
</div><p>The $1.8 billion System Software Lifecycle Engineering contract win significantly bolsters SAIC's future revenue visibility and growth prospects. This contract is described as &#34;our largest recompete win in recent years&#34; by SAIC's CEO, Toni Townes-Whitley. The win, along with a backlog of submitted bids valued at approximately $20 billion, reflects the momentum SAIC is building inside the company. This substantial contract not only provides immediate revenue but also enhances the company's ability to forecast future earnings with greater confidence. The CEO's statement, &#34;This important win along with a backlog of submitted bids valued at approximately $20 billion reflect the momentum we are building inside the company,&#34; underscores the strategic importance of this contract in securing long-term growth and stability.</p>
<div class="lb-trans"><p>18 億美元的系統軟件生命週期工程合同的贏得顯著增強了 SAIC 未來的收入可見性和增長前景。SAIC 首席執行官 Toni Townes-Whitley 將該合同稱為 “我們近年來最大的重新競爭勝利”。這一勝利，加上約 200 億美元的待提交投標的積壓，反映了 SAIC 在公司內部所建立的勢頭。這一重要合同不僅提供了即時收入，還增強了公司對未來收益的預測能力。首席執行官的聲明 “這一重要勝利以及約 200 億美元的待提交投標的積壓反映了我們在公司內部所建立的勢頭” 強調了該合同在確保長期增長和穩定性方面的戰略重要性。</p>
</div><p>Conclusion</p>
<div class="lb-trans"><p>結論</p>
</div><p>SAIC's Q4 FY25 earnings report is a clear indication of the company's strategic prowess and operational efficiency. The 5.8% organic growth in revenues, coupled with significant margin expansion, positions SAIC as a leader in the technology integration sector. The $1.8 billion contract win further bolsters the company's future revenue visibility and growth prospects, making it a compelling investment opportunity. As SAIC continues to execute its strategy, investors can expect sustained growth and profitability in the coming quarters.</p>
<div class="lb-trans"><p>SAIC 的 2025 財年第四季度財報清晰地表明瞭公司在戰略能力和運營效率方面的優勢。5.8% 的收入有機增長，加上顯著的利潤率擴張，使 SAIC 在技術集成領域中佔據了領先地位。18 億美元的合同贏得進一步增強了公司的未來收入可見性和增長前景，使其成為一個引人注目的投資機會。隨着 SAIC 繼續執行其戰略，投資者可以期待在未來幾個季度持續的增長和盈利能力。</p>
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上汽集團第四季度收益激增：新合同推動了收入增長