ManTech International
ManTech is a Carlyle-owned US defense and intelligence IT services contractor doing classified tech work for the government.
On the record
Checkpoint: SeaPort NxG, RS3, and OASIS+ recompete results plus any Carlyle exit signal
The call
ManTech keeps winning large classified contracts but grows slower than its closest peers, with its next chapter tied more to Carlyle's exit timing than to AI or new competitors.
ManTech sells technology services and software to the U.S. military and intelligence agencies. It is hard to replace because it has security clearances, experience with classified projects, and knowledge of government contracting rules that new companies take years to build, but its three bigger rivals (Leidos, CACI, and Booz Allen Hamilton) have exactly the same advantages and grow faster. The company's future hinges on whether it shifts from selling hours of worker time to selling smarter software and data tools, where it could stay ahead of automation; if it stays as it is, smaller size and slower growth will eventually hurt it against both larger competitors and cheaper software alternatives.
Why
01
AI pressure: None apparent. AI could automate labor-hour billing work over time, but classified contract work still needs cleared humans in the loop for now. Could AI do the core job? Unlikely.
02
Bigger players: Leidos, CACI, Booz Allen Hamilton, GDIT. These faster growing rivals hold the same clearances and compliance setup but are winning more contract growth than ManTech. Could a giant copy it? No, they are blocked.
03
What protects it. Security clearances, classified work history, and FAR/DFARS compliance keep new entrants and AI-native firms out entirely.
What would change this call
ManTech's revenue growth rate versus CACI's stated +13% YoY over next 2 reporting cycles. Shows whether ManTech is closing or widening the growth gap with faster peers.
DOJ or suspension/debarment action tied to the July 2025 Administrative Agreement. Would show unresolved overbilling risk escalating beyond a closed compliance matter.
Any Carlyle sale, IPO filing, secondary, or recap announcement for ManTech. Would clarify exit timing and remove ownership-driven uncertainty for the business.
DOJ or suspension/debarment action tied to the July 2025 Administrative Agreement. Would show unresolved overbilling risk escalating beyond a closed compliance matter.
Any Carlyle sale, IPO filing, secondary, or recap announcement for ManTech. Would clarify exit timing and remove ownership-driven uncertainty for the business.
Key numbers
- $875M seven year intelligence agency cyber contract
- 8,700 employees globally
- Revenue reported as $2.99B or $1.80B, conflicting sources
Named risks
- Unresolved overbilling Administrative Agreement (July 2025) could trigger further DOJ or suspension action.
- Carlyle exit event (sale, refinancing, or IPO) creates ownership uncertainty within the joiner's 3-5 year window.
- Subscale growth versus CACI and Booz Allen risks losing recompetes and market share over time.
- Flat to declining headcount and 69.3% drop in job postings may signal margin pressure or AI-driven labor compression.
- Conflicting public revenue figures (40% variance) undermine external verification of financial health.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| CACI International | losing to | CACI grew FY2025 revenue 13% YoY to $8.6B vs ManTech's inconsistent $1.8-3B figures, reported April 2026 |
| Booz Allen Hamilton | losing to | Booz Allen guided to $11.3B+ FY revenue vs ManTech's sub-$3B scale, reported April 2026 |
| Leidos | contesting | ManTech repeatedly protested a Leidos-won contract through 2024-2025 per GAO filing |
| MAG Aerospace | gaining on | GAO denied MAG Aerospace's OCI protest against ManTech's $96.5M Army contract, February 2026 |
| AWS/Microsoft/Accenture | contesting | ManTech joined AWS Intelligence Community Marketplace for cloud/AI services, December 2025 |
Questions people ask
- Is ManTech International still owned by Carlyle Group in 2026?
- Yes. Carlyle closed its all-cash acquisition of ManTech on September 14, 2022, for roughly $4.2 billion enterprise value. As of July 2026 no resale, IPO, or ownership change has been reported, and ManTech remains a private Carlyle portfolio company.
- Is ManTech growing faster or slower than CACI or Booz Allen?
- Slower. CACI reported $8.6 billion FY2025 revenue, up 13% year over year, and Booz Allen guided to at least $11.3 billion. ManTech's own revenue figures are inconsistent across 2026 trade rankings, ranging from $1.80 billion to $2.99 billion, suggesting it trails both peers in scale and growth.
- Could AI replace ManTech's government contracting business?
- Not the classified core. ManTech's moat rests on security clearances, FAR/DFARS compliance, and decades-long incumbency on Intelligence Community and DoD contracts, which AI tools cannot replicate. Lower-end labor like T&M staff augmentation and legacy code maintenance is more exposed, and ManTech itself frames AI as reducing that manual work as of January 2026.
- Is it safe to take a job at ManTech International right now?
- Reasonably safe short term. ManTech won at least $2 billion in new federal contracts since 2025 including an $875 million intelligence community cyber deal in April 2026, but headcount is flat to declining (8,700 to 11,400 depending on source) and job postings fell 69.3% year over year as of November 2025.
- Who are ManTech International's biggest competitors?
- ManTech's closest peers are Leidos, Booz Allen Hamilton, CACI International, SAIC, Peraton, and General Dynamics Information Technology, all sharing the same clearance-based moat. Among these, CACI and Booz Allen are outgrowing ManTech, per fiscal 2025 revenue figures reported April 2026.
- Has ManTech had any legal or compliance problems recently?
- Yes. A GAO filing referenced a July 31, 2025 Administrative Agreement tied to alleged mischarged time and overbillings across ten ManTech contracts from 2023 to 2024, amounting to millions of dollars, a matter that could resurface in future oversight or protests.
Timeline
- 2026-07-01Wins $197M five-year Navy NSWC Crane radar-modernization contract
- 2026-06-16Wins $140M SeaPort NxG naval systems engineering task
- 2026-04-28Former SOCOM commander Bryan Fenton joins ManTech board
- 2026-04-21Wins $875M seven-year U.S. Intelligence Community cyber contract
- 2026-02-17GAO denies MAG Aerospace's OCI protest over ManTech's $96.5M Army task order
- 2026-02-04ManTech listed in AWS Intelligence Community Marketplace for Cloud and Data/AI services
- 2025-09-18Wins $910M SOUTHCOM network-modernization task order
- 2025-07-31GAO references Administrative Agreement over alleged ManTech contract overbillings
- 2025-05-21Wins $200M NOAA cyber contract
- 2022-09-14Carlyle completes $4.2B all-cash acquisition, ManTech goes private
Revision history
21 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Carlyle to Acquire ManTech... all-cash transaction valued at approximately $4.2 billion (2022-05-16)
- ManTech Announces Completion of Acquisition by Carlyle (2022-09-14)
- ManTech International -> History and infobox
- Company Rank Details for MANTECH INTERNATIONAL (2025 edition) (2026-07-08)
- MANTECH press releases (2025-09-18)
- MANTECH Wins $875 Million Multi-Year Contract with U.S. Intelligence Agency (2026-04-21)
- MANTECH Wins $197 Million Navy Systems Contract (2026-07-01)
- MANTECH wins $140M naval systems engineering directorate task on SeaPort NxG (2026-06-16)
- Cloud Computing Federal Contract Awards
- US Navy Awards MANTECH $197M Software Modernization Contract (2026-07-02)
- Matt Tait CEO bio page (2025-10-30)
- How many employees work at ManTech International? (2025-11-30)