BAH vs CACI: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: BAH is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BAH and CACI share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BAH and CACI exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Booz Allen Hamilton is a management and technology consulting firm that works almost entirely for the US government, spanning the Defense Department, the intelligence community, and civilian agencies. Its people-heavy model deploys tens of thousands of cleared consultants and engineers on missions ranging from cyber defense and data analytics to AI deployment, systems modernization, and mission operations. The company carries a large multi-year backlog (recently around $38 billion) that provides visibility into future revenue, and it measures order momentum through a book-to-bill ratio.

Full BAH guide

CACI International provides expertise and technology to US government and allied customers, concentrated in national security, defense, and intelligence. Its work spans signals and geospatial intelligence, electronic warfare, secure communications, software and systems engineering, cyber, and enterprise IT modernization, and roughly the large majority of revenue comes from federal agencies (Department of Defense and the intelligence community). The March 2026 completion of the ~$2.6 billion all-cash ARKA Group acquisition pushed CACI further into space-based sensing, geospatial intelligence, and agentic AI software, adding about 1,100 employees including a large specialized software-engineering base.

Full CACI guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• BAH drivers: Defense and intelligence demand; Backlog and book-to-bill.
• CACI drivers: Long backlog and recurring government demand; Shift toward higher-margin technology and software.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The dominant risk is concentration: with roughly 98% of revenue from the US government, Booz Allen is highly exposed to federal budget decisions, procurement delays, and contract cancellations. For CACI, cACI derives the large majority of revenue from the US government, so budget delays, continuing resolutions, shutdowns, or shifts in defense and intelligence priorities can directly pressure growth.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BAH if you believe its drivers more; CACI if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BAH and CACI guides.

BAH. Booz Allen's fiscal 2026 revenue declined for the first time in years as federal spending cuts and slower procurement reduced billable work, though adjusted EPS edged higher on cost discipline and buybacks. The stock trades at a low earnings multiple well below its historical average and below several peers, reflecting the federal spending reset. Fiscal 2027 guidance points to roughly flat revenue with EPS around $6.00 to $6.35.

CACI. Trailing revenue was about $9.2 billion as of the March 2026 quarter, up from roughly $8.6 billion in fiscal 2025 (year ended June 2025), and management guided fiscal 2026 revenue toward $9.5 billion to $9.6 billion. As of early July 2026 the market capitalization was near $11 billion at a share price around $500, a trailing P/E near 25x and a forward P/E closer to 20x, reflecting a premium typical of scaled, backlog-rich defense-technology contractors.

Headline figures (approximate, July 2026): BAH shows revenue (fy2026) ~$11.2B (down ~6%), adjusted diluted eps (fy2026) ~$6.51, adjusted ebitda (fy2026) ~$1.23B (~11% margin), backlog ~$38B; CACI shows revenue (ttm) ~$9.2B, fy2026 revenue guidance ~$9.5B to $9.6B, net income (fy2025) ~$500M, market cap ~$11.1B.

BAH and CACI are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BAH and CACI exposure against your real portfolio. It is not an investment adviser.