The condensation graph (or meta-graph) is a DAG where each node represents one SCC from the original graph. Add a directed edge from component to component in the condensation graph if there exists at least one edge from any node in SCC to any node in SCC in the original graph.
This condensation graph is always a DAG (no cycles). You can run topological sort on it, compute longest paths, or apply dynamic programming. It reveals the high-level structure of the original graph.