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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 16
HOLD 8
SELL 1
STRONG
SELL
0
| PRICE TARGET: $110.57 DETAILS
HIGH: $145.00
LOW: $90.00
MEDIAN: $109.00
CONSENSUS: $110.57
UPSIDE: 53.48%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Revenue
Revenue 16,139.6 16,105.5 14,378.5 13,148.2 13,340.9 13,240.0 13,642.5 13,878.3 18,203.4 17,410.8 17,989.9 8,356.8 8,153.5 8,218.2 8,037.4 6,545.8 6,119.5 5,194.7 4,237.3 3,421.5 2,395.3 2,012.0 1,915 1,747
Cost of Revenue 14,922.9 15,021.2 13,433.0 12,300.2 12,542.4 12,530.4 13,030.8 13,399.3 17,519.7 16,768.0 17,454.7 7,953.6 7,703.5 7,796.3 7,570.7 6,115.5 5,768.3 4,907.8 3,076.1 2,515.7 1,717.9 0 1,381 1,269
Gross Profit 1,216.7 1,084.3 945.5 848.0 798.4 709.6 611.7 479.0 683.7 642.8 535.2 403.2 450.0 421.9 466.7 430.3 351.2 286.9 1,161.2 905.8 677.5 0 534 478
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 157.8 160.1 153.6 147.3 155.1 188.5 148.1 135.8 133.3 115.1 114.0 80.9 97.3 80.9 90.3 110.5 86.9 70.6 1,017.1 809.0 581.5 0 467 430
Other Expenses 32.3 96.8 467.8 53.9 13.8 139.6 67.4 (49.4) (103.4) 152.2 292.2 (30.6) (24.3) 287.4 (44.8) (21.0) (22.6) (22.2) (11.8) (6.6) (2.4) 2,012.0 (2) (1)
Operating Expenses 190.2 256.9 621.3 201.2 168.9 328.1 215.6 86.4 29.9 267.3 406.2 50.3 73.0 368.3 45.5 89.5 64.3 48.4 1,005.2 802.4 579.2 2,012.0 465 429
Operating Income
Operating Income 1,026.5 827.4 324.1 646.8 629.6 381.5 396.1 392.6 653.9 375.5 129.0 352.9 377.0 53.6 421.2 340.8 286.9 238.5 155.9 103.4 98.3 2,012.0 69 49
Interest Expense 184.3 185.4 159.3 110.3 238.4 159.9 161.5 201.0 231.3 258.2 299.6 40.8 44.7 46.7 42.1 9.9 10.7 0 0 0 0 0 0 0
Interest Income 62.9 58.6 40.3 8.2 6.7 0 0 0 0 0 0 0 0 0 0 0 0 1.3 0 0 0 0 0 0
Profitability
EBITDA 1,275.8 1,082.4 548.5 831.8 823.6 629.9 671.8 680.8 939.1 782.4 747.4 451.0 474.9 167.2 536.5 429.9 371.0 256.9 201.1 143.2 118.2 2,012.0 69 49
EBIT 1,099.9 903.6 372.7 661.0 647.2 392.5 410.7 413.2 660.5 383.7 148.2 355.6 380.5 64.2 426.2 351.0 286.9 194.1 155.9 103.4 98.3 2,012.0 69 49
Income Before Tax 915.6 718.2 213.4 550.7 408.8 232.6 249.2 212.2 429.2 125.6 (151.5) 314.8 335.8 17.5 384.2 341.1 277.9 223.0 147.5 78.9 82.8 0 56 34
Income Tax Expense 204.0 152.9 56.1 136.1 89.0 45.8 13.5 (3.5) 7.7 (37.9) (80.2) 82.0 92.6 74.4 100.1 91.7 77.0 76.5 47.2 25.2 29.0 0 0 11
Net Income 561.8 402.3 55.3 310.6 173.2 (186.4) (261.1) 136.5 339.4 96.1 (154.8) 229.9 239.2 (58.6) 275.8 236.9 189.7 147.2 100.3 53.7 53.8 50.4 37 23
Per Share Data
EPS (Basic) 4.24 2.97 0.40 2.21 1.18 -1.17 -1.17 0.86 2.18 0.62 -1.04 2.36 2.38 -0.52 2.35 2.07 1.76 1.45 1.37 0.94 1.35 1.27 0.67 0.40
EPS (Diluted) 4.21 2.95 0.39 2.18 1.16 -1.17 -1.17 0.84 2.13 0.62 -1.04 2.33 2.35 -0.52 2.33 2.05 1.73 1.41 1.15 0.74 1.20 1.12 0.65 0.29
Shares Outstanding 132.4 135.5 138.6 140.8 147.3 159.0 157.0 159.1 155.7 154.8 148.9 97.2 100.6 111.9 117.4 114.3 108.0 101.5 73.1 54.9 39.8 39.8 52.9 57.0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2003 2002
Current Assets
Cash & Cash Equivalents 1,585.7 1,580.9 1,260.2 1,172.2 1,229.2 1,708.3 885.6 886.7 802.4 692.1 290.8 170.9 120 28
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 81.4 0 0
Net Receivables 4,428.4 4,759.3 4,083.9 3,812.2 4,065.9 4,437.9 4,500.1 5,595.6 5,183.1 4,578.5 1,733.0 1,638.8 0 0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 716.1 835.9 825.4 838.4 878.5 1,384.1 2,148.9 645.0 696.7 730.1 190.8 190.5 (120) (28)
Total Current Assets 6,730.2 7,176.1 6,169.5 5,822.8 6,173.5 7,530.4 7,534.6 7,127.3 6,682.2 6,000.8 2,214.5 2,116.3 0 0
Non-Current Assets
Property, Plant & Equipment 879.6 786.6 829.6 968.0 1,006.0 1,033.8 405.6 614.1 621.4 645 228.8 223.2 0 0
Goodwill 3,700.6 3,480.2 3,418.9 3,380.8 3,502.5 3,484.2 3,476.8 5,921.1 5,992.9 5,823.8 1,062.9 949.1 0 0
Intangible Assets 183.3 6.9 17.8 35.6 54.9 76.9 99.6 319.9 415.1 479.4 62.0 80.3 0 0
Long-Term Investments 187.4 138.1 139.2 355.0 328.9 297.6 256.1 310.7 364.2 330.5 34.5 46.4 0 0
Other Non-Current Assets 223.9 147.2 218.7 293.0 307.9 214.4 2,489.1 228.7 149.8 218.9 96.0 134.9 0 0
Total Non-Current Assets 5,470.0 4,885.6 5,063.9 5,316.5 5,560.5 5,468.6 7,016.2 7,553.9 7,714.8 7,669.1 1,575.3 1,479.8 0 0
Total Assets 12,200.2 12,061.7 11,233.4 11,139.3 11,734.0 12,999.0 14,550.9 14,681.1 14,397.0 13,669.9 3,789.9 3,596.2 1,056 965
Current Liabilities
Account Payables 2,260.6 2,560.1 2,190.8 2,027.3 2,090.5 2,358.2 2,410.8 2,726.0 2,249.9 1,910.9 401.2 397.1 0 0
Short-Term Debt 198.7 66.9 89.5 48.6 53.8 20.9 98.4 143.1 142 366.3 29.1 32.0 0 0
Deferred Revenue 1,087.9 1,298.3 1,188.7 1,051.3 1,058.6 2,134.4 1,778.1 1,792.4 1,814.7 1,641.7 0 0 0 0
Other Current Liabilities 1,631.1 35.6 45.7 49.3 94.0 417.6 1,163.7 22.3 0.0 0.0 50.3 63.8 0 0
Total Current Liabilities 5,928.8 6,374.1 5,850.3 5,404.2 5,521.7 6,090.5 6,461.8 6,129.7 5,578.4 5,304.8 1,556.7 1,452.5 0 0
Non-Current Liabilities
Long-Term Debt 2,602.9 2,450.3 2,113.4 2,156.7 2,157.7 2,041.1 3,218.0 3,483.7 3,702.1 3,702.2 142.1 366.0 122 0
Deferred Tax Liabilities 68.0 27.5 17.0 9.2 5.4 3.5 4.5 47.3 20.5 13.1 0 0 0 0
Other Non-Current Liabilities 344.1 328.8 320.2 368.5 540.4 705.0 967.3 742.1 881.3 1,097.4 336.6 282.4 (122) 0
Total Non-Current Liabilities 3,575.2 3,317.2 2,999.4 3,129.8 3,382.7 3,495.0 4,189.8 4,273.1 4,603.9 4,812.7 478.7 700.7 0 0
Total Liabilities 9,504.1 9,691.3 8,849.7 8,533.9 8,904.4 9,585.4 10,651.6 10,402.8 10,182.3 10,117.4 2,035.5 2,153.1 1,237 1,073
Stockholders' Equity
Common Stock 1.3 1.3 1.4 1.4 1.4 1.6 1.6 1.6 1.6 1.5 1.1 1.0 0 0
Retained Earnings (1,224.8) (1,281.6) (1,104.0) (701.7) (504.1) 174.2 599.5 948.1 961.6 618.4 414.3 221.4 0 0
Accumulated Other Comprehensive Income (893.0) (882.7) (926.6) (979.7) (900.4) (918.7) (864.2) (703.3) (700.7) (857.6) (146.6) (111.5) 0 0
Total Stockholders' Equity 2,492.6 2,184.2 2,212.3 2,476.7 2,712.5 3,292.6 3,690.6 4,092.8 3,996.1 3,366.9 1,729.7 1,423.0 (181) (108)
Total Liabilities & Equity 12,200.2 12,061.7 11,233.4 11,139.3 11,734.0 12,999.0 14,550.9 14,681.1 14,397.0 13,669.9 3,789.9 3,596.2 1,056 965
Debt Metrics
Total Debt 3,361.9 3,027.8 2,751.7 2,800.6 2,890.6 2,807.3 3,316.3 3,626.8 3,844.1 4,068.5 171.2 398.0 122 0
Net Debt 1,776.2 1,447.0 1,491.5 1,628.4 1,661.4 1,099.0 2,430.7 2,740.1 3,041.7 3,376.3 (119.6) 200.9 2 (28)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2002
Operating Activities
Net Income 636.2 460.3 100.1 334.7 203.0 (153.7) (184.0) 197.1 421.5 163.5 53.8 23
Depreciation & Amortization 175.9 178.8 175.7 170.9 176.4 237.4 261.2 267.6 278.6 398.7 19.9 0
Stock-Based Compensation 61.4 61.5 45.9 38.5 44.7 54.2 63.8 73.1 83.8 73.4 0 0
Change in Working Capital (142.3) (150.5) 49.9 134.0 73.0 (77.9) 137.1 (1.5) (23.2) 224.0 (39.1) 0
Other Non-Cash Items 54.9 126.6 460.2 12.7 255.8 258.5 597.5 201.5 (14.2) 64.6 (1.1) 0
Operating Cash Flow 821.6 827.5 696.0 713.6 704.7 329.6 777.6 774.6 696.7 814.2 46.6 0
Investing Activities
Capital Expenditure (136.7) (119.6) (105.6) (137.0) (136.3) (114.6) (100.7) (113.3) (86.4) (191.4) (31.2) (20)
Acquisitions (282.5) (73.7) (38.9) (14.9) (49.3) (83.0) (72.5) 44.1 (125.2) (37.4) (158.9) 0
Purchases of Investments 0 0 0 0 0 0 (3.2) (23.5) 0 (0.2) (8.2) 0
Sales/Maturities of Investments 0 3.2 6.0 10.2 15.5 12.4 12.4 7.2 0.9 11.7 60.5 0
Other Investing Activities 6.0 (20.5) 0.3 (33.3) (251.1) 2,222.7 17.3 26.4 7.9 54.6 0.8 20
Investing Cash Flow (413.2) (210.6) (138.2) (175.0) (421.1) 2,037.4 (146.8) (59.1) (202.7) (162.6) (137.0) (20)
Financing Activities
Net Debt Issuance 135.8 290.8 (46.0) (38.7) (2.2) (1,381.8) (283.9) (345.8) (297.6) (493.7) 120.9 0
Stock Repurchased (388.4) (478.5) (379.3) (473.0) (867.1) (187.0) (98.2) (179.5) (25.1) (25.9) (70.9) 0
Dividends Paid (133.6) (115.2) (96.2) (63.3) 0 0 0 0 0 0 (5.2) 0
Other Financing Activities (57.6) (27.1) 15.6 (40) (28.9) (85.7) (81.7) (134.9) (93.9) (146.5) (2.6) 0
Financing Cash Flow (403.7) (295.5) (472.9) (588.3) (872.5) (1,628.0) (433.3) (624.9) (386.5) (638.0) 84.1 0
Cash Position
Net Change in Cash 0.9 320.7 88.0 (57.0) (479.1) 822.7 (1.1) 84.4 110.2 8.3 0 (20)
Cash at Beginning 1,584.9 1,260.2 1,172.2 1,229.2 1,708.3 885.6 886.7 802.4 692.1 683.9 0 0
Cash at End 1,585.7 1,580.9 1,260.2 1,172.2 1,229.2 1,708.3 885.6 886.7 802.4 692.1 0 (20)
Free Cash Flow 684.9 707.9 590.4 576.6 568.4 215.0 677.0 661.3 610.3 622.8 15.4 (20)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Income Statement
Revenue 16,139.6 16,105.5 14,378.5 13,148.2 13,340.9 13,240.0 13,642.5 13,878.3 18,203.4 17,410.8 17,989.9 8,356.8 8,153.5 8,218.2 8,037.4 6,545.8 6,119.5 5,194.7 4,237.3 3,421.5 2,395.3 2,012.0 1,915 1,747
Gross Profit 1,216.7 1,084.3 945.5 848.0 798.4 709.6 611.7 479.0 683.7 642.8 535.2 403.2 450.0 421.9 466.7 430.3 351.2 286.9 1,161.2 905.8 677.5 0 534 478
Operating Income 1,026.5 827.4 324.1 646.8 629.6 381.5 396.1 392.6 653.9 375.5 129.0 352.9 377.0 53.6 421.2 340.8 286.9 238.5 155.9 103.4 98.3 2,012.0 69 49
Net Income 561.8 402.3 55.3 310.6 173.2 (186.4) (261.1) 136.5 339.4 96.1 (154.8) 229.9 239.2 (58.6) 275.8 236.9 189.7 147.2 100.3 53.7 53.8 50.4 37 23
EPS (Diluted) 4.21 2.95 0.39 2.18 1.16 -1.17 -1.17 0.84 2.13 0.62 -1.04 2.33 2.35 -0.52 2.33 2.05 1.73 1.41 1.15 0.74 1.20 1.12 0.65 0.29
Balance Sheet
Cash & Equivalents 1,585.7 1,580.9 1,260.2 1,172.2 1,229.2 1,708.3 885.6 886.7 802.4 692.1 290.8 170.9 120 28
Total Assets 12,200.2 12,061.7 11,233.4 11,139.3 11,734.0 12,999.0 14,550.9 14,681.1 14,397.0 13,669.9 3,789.9 3,596.2 1,056 965
Total Debt 3,361.9 3,027.8 2,751.7 2,800.6 2,890.6 2,807.3 3,316.3 3,626.8 3,844.1 4,068.5 171.2 398.0 122 0
Stockholders' Equity 2,492.6 2,184.2 2,212.3 2,476.7 2,712.5 3,292.6 3,690.6 4,092.8 3,996.1 3,366.9 1,729.7 1,423.0 (181) (108)
Cash Flow
Operating Cash Flow 821.6 827.5 696.0 713.6 704.7 329.6 777.6 774.6 696.7 814.2 46.6 0
Capital Expenditure (136.7) (119.6) (105.6) (137.0) (136.3) (114.6) (100.7) (113.3) (86.4) (191.4) (31.2) (20)
Free Cash Flow 684.9 707.9 590.4 576.6 568.4 215.0 677.0 661.3 610.3 622.8 15.4 (20)