AECOM (ACM)
Market Price (8/13/2026): $61.2 | Market Cap: $7.9 BilSector: Industrials | Industry: Construction & Engineering
AECOM (ACM)
Market Price (8/13/2026): $61.2Market Cap: $7.9 BilSector: IndustrialsIndustry: Construction & Engineering
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% Stock buyback supportStock Buyback 3Y Total is 1.5 Bil Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more. | Weak multi-year price returns2Y Excs Rtn is -81%, 3Y Excs Rtn is -99% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.2%, Rev Chg QQuarterly Revenue Change % is -14% Key risksACM key risks include [1] its heavy reliance on government contracts, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% |
| Stock buyback supportStock Buyback 3Y Total is 1.5 Bil |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -81%, 3Y Excs Rtn is -99% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.2%, Rev Chg QQuarterly Revenue Change % is -14% |
| Key risksACM key risks include [1] its heavy reliance on government contracts, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 8/12/2026
AECOM (ACM) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Significant project charge and earnings miss in fiscal Q3 2026.
AECOM reported a diluted earnings per share (EPS) loss of $0.65 from continuing operations for fiscal Q3 2026, which ended around June 30, 2026. This loss was primarily driven by a $337 million pre-tax charge related to the delayed completion of a Construction Management project awarded in fiscal 2019, which pushed the company into a reported loss and reduced cash generation. The reported adjusted EPS of ($0.50) missed analysts' consensus estimates of $1.46 by $1.96. Quarterly revenue also declined 14.2% year-over-year to $3.586 billion.
2. Weak fiscal Q2 2026 cash flow and project claim delays.
For fiscal Q2 2026, which ended around March 31, 2026, AECOM's quarterly operating cash flow plummeted 98% year-over-year to $4 million, and adjusted free cash flow swung to a negative $27 million. The company's Chief Financial Officer attributed this to "longer-than-anticipated claim resolution on certain projects" that were bid in fiscal years 2019 and 2020. Significant claims recorded in contract assets and other non-current assets increased to approximately $680 million as of March 31, 2026, compared with approximately $400 million as of September 30, 2025. This news led to AECOM's stock price falling $9.55, or 12%, on May 12, 2026.
Show more
AECOM (ACM) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Significant project charge and earnings miss in fiscal Q3 2026.
AECOM reported a diluted earnings per share (EPS) loss of $0.65 from continuing operations for fiscal Q3 2026, which ended around June 30, 2026. This loss was primarily driven by a $337 million pre-tax charge related to the delayed completion of a Construction Management project awarded in fiscal 2019, which pushed the company into a reported loss and reduced cash generation. The reported adjusted EPS of ($0.50) missed analysts' consensus estimates of $1.46 by $1.96. Quarterly revenue also declined 14.2% year-over-year to $3.586 billion.
2. Weak fiscal Q2 2026 cash flow and project claim delays.
For fiscal Q2 2026, which ended around March 31, 2026, AECOM's quarterly operating cash flow plummeted 98% year-over-year to $4 million, and adjusted free cash flow swung to a negative $27 million. The company's Chief Financial Officer attributed this to "longer-than-anticipated claim resolution on certain projects" that were bid in fiscal years 2019 and 2020. Significant claims recorded in contract assets and other non-current assets increased to approximately $680 million as of March 31, 2026, compared with approximately $400 million as of September 30, 2025. This news led to AECOM's stock price falling $9.55, or 12%, on May 12, 2026.
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Updated on 8/12/2026
AECOM (ACM) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Significant project charge and earnings miss in fiscal Q3 2026.
AECOM reported a diluted earnings per share (EPS) loss of $0.65 from continuing operations for fiscal Q3 2026, which ended around June 30, 2026. This loss was primarily driven by a $337 million pre-tax charge related to the delayed completion of a Construction Management project awarded in fiscal 2019, which pushed the company into a reported loss and reduced cash generation. The reported adjusted EPS of ($0.50) missed analysts' consensus estimates of $1.46 by $1.96. Quarterly revenue also declined 14.2% year-over-year to $3.586 billion.
2. Weak fiscal Q2 2026 cash flow and project claim delays.
For fiscal Q2 2026, which ended around March 31, 2026, AECOM's quarterly operating cash flow plummeted 98% year-over-year to $4 million, and adjusted free cash flow swung to a negative $27 million. The company's Chief Financial Officer attributed this to "longer-than-anticipated claim resolution on certain projects" that were bid in fiscal years 2019 and 2020. Significant claims recorded in contract assets and other non-current assets increased to approximately $680 million as of March 31, 2026, compared with approximately $400 million as of September 30, 2025. This news led to AECOM's stock price falling $9.55, or 12%, on May 12, 2026.
3. Deteriorated fiscal 2026 guidance.
Following the announcement of fiscal Q3 2026 results, AECOM significantly updated its fiscal 2026 guidance. The company lowered its adjusted EPS expectations to a range of $3.95 to $4.15, which was substantially below the prior analyst consensus estimate of $5.97. The revised outlook also included lower expected Net Service Revenue (NSR) growth, further impacting investor confidence.
4. Analyst downgrades and price target reductions.
Several financial institutions responded to AECOM's performance and revised outlook by adjusting their ratings and price targets. KeyCorp reduced its price target on AECOM shares from $115.00 to $101.00 in May 2026. Royal Bank of Canada also lowered its price target from $111.00 to $105.00 in July 2026. Additionally, Robert W. Baird cut its price target to $73.00 in August 2026.
5. Macroeconomic headwinds.
AECOM's updated fiscal 2026 guidance cited lower expected Net Service Revenue growth partly due to macroeconomic factors, including delayed project starts in the Construction Management business and ongoing conflict in the Middle East. These broader economic and geopolitical challenges contributed to the company's revised outlook and investor concerns.
Show less
AECOM (ACM) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. Significant project charge and earnings miss in fiscal Q3 2026.
AECOM reported a diluted earnings per share (EPS) loss of $0.65 from continuing operations for fiscal Q3 2026, which ended around June 30, 2026. This loss was primarily driven by a $337 million pre-tax charge related to the delayed completion of a Construction Management project awarded in fiscal 2019, which pushed the company into a reported loss and reduced cash generation. The reported adjusted EPS of ($0.50) missed analysts' consensus estimates of $1.46 by $1.96. Quarterly revenue also declined 14.2% year-over-year to $3.586 billion.
2. Weak fiscal Q2 2026 cash flow and project claim delays.
For fiscal Q2 2026, which ended around March 31, 2026, AECOM's quarterly operating cash flow plummeted 98% year-over-year to $4 million, and adjusted free cash flow swung to a negative $27 million. The company's Chief Financial Officer attributed this to "longer-than-anticipated claim resolution on certain projects" that were bid in fiscal years 2019 and 2020. Significant claims recorded in contract assets and other non-current assets increased to approximately $680 million as of March 31, 2026, compared with approximately $400 million as of September 30, 2025. This news led to AECOM's stock price falling $9.55, or 12%, on May 12, 2026.
3. Deteriorated fiscal 2026 guidance.
Following the announcement of fiscal Q3 2026 results, AECOM significantly updated its fiscal 2026 guidance. The company lowered its adjusted EPS expectations to a range of $3.95 to $4.15, which was substantially below the prior analyst consensus estimate of $5.97. The revised outlook also included lower expected Net Service Revenue (NSR) growth, further impacting investor confidence.
4. Analyst downgrades and price target reductions.
Several financial institutions responded to AECOM's performance and revised outlook by adjusting their ratings and price targets. KeyCorp reduced its price target on AECOM shares from $115.00 to $101.00 in May 2026. Royal Bank of Canada also lowered its price target from $111.00 to $105.00 in July 2026. Additionally, Robert W. Baird cut its price target to $73.00 in August 2026.
5. Macroeconomic headwinds.
AECOM's updated fiscal 2026 guidance cited lower expected Net Service Revenue growth partly due to macroeconomic factors, including delayed project starts in the Construction Management business and ongoing conflict in the Middle East. These broader economic and geopolitical challenges contributed to the company's revised outlook and investor concerns.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -27.1% change in ACM stock from 4/30/2026 to 8/12/2026 was primarily driven by a -36.4% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8122026 | Change |
|---|---|---|---|
| Stock Price ($) | 83.73 | 61.04 | -27.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,956 | 15,393 | -3.5% |
| Net Income Margin (%) | 2.9% | 1.9% | -36.4% |
| P/E Multiple | 23.4 | 27.2 | 16.7% |
| Shares Outstanding (Mil) | 131 | 129 | 1.8% |
| Cumulative Contribution | -27.1% |
Market Drivers
4/30/2026 to 8/12/2026| Return | Correlation | |
|---|---|---|
| ACM | -27.1% | |
| Market (SPY) | 7.5% | 17.6% |
| Sector (XLI) | 6.5% | 20.5% |
Fundamental Drivers
The -36.2% change in ACM stock from 1/31/2026 to 8/12/2026 was primarily driven by a -46.2% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8122026 | Change |
|---|---|---|---|
| Stock Price ($) | 95.65 | 61.04 | -36.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,140 | 15,393 | -4.6% |
| Net Income Margin (%) | 3.5% | 1.9% | -46.2% |
| P/E Multiple | 22.5 | 27.2 | 21.0% |
| Shares Outstanding (Mil) | 132 | 129 | 2.9% |
| Cumulative Contribution | -36.2% |
Market Drivers
1/31/2026 to 8/12/2026| Return | Correlation | |
|---|---|---|
| ACM | -36.2% | |
| Market (SPY) | 11.9% | 29.1% |
| Sector (XLI) | 12.7% | 31.6% |
Fundamental Drivers
The -45.1% change in ACM stock from 7/31/2025 to 8/12/2026 was primarily driven by a -51.4% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 8122026 | Change |
|---|---|---|---|
| Stock Price ($) | 111.26 | 61.04 | -45.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,048 | 15,393 | -4.1% |
| Net Income Margin (%) | 3.8% | 1.9% | -51.4% |
| P/E Multiple | 23.9 | 27.2 | 14.1% |
| Shares Outstanding (Mil) | 132 | 129 | 3.0% |
| Cumulative Contribution | -45.1% |
Market Drivers
7/31/2025 to 8/12/2026| Return | Correlation | |
|---|---|---|
| ACM | -45.1% | |
| Market (SPY) | 23.3% | 30.4% |
| Sector (XLI) | 23.6% | 34.7% |
Fundamental Drivers
The -27.5% change in ACM stock from 7/31/2023 to 8/12/2026 was primarily driven by a -31.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312023 | 8122026 | Change |
|---|---|---|---|
| Stock Price ($) | 84.22 | 61.04 | -27.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,540 | 15,393 | 13.7% |
| Net Income Margin (%) | 2.7% | 1.9% | -31.9% |
| P/E Multiple | 31.4 | 27.2 | -13.4% |
| Shares Outstanding (Mil) | 139 | 129 | 8.1% |
| Cumulative Contribution | -27.5% |
Market Drivers
7/31/2023 to 8/12/2026| Return | Correlation | |
|---|---|---|
| ACM | -27.5% | |
| Market (SPY) | 74.7% | 47.2% |
| Sector (XLI) | 75.3% | 55.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ACM Return | 55% | 11% | 10% | 17% | -10% | -29% | 41% |
| Peers Return | 36% | 12% | 16% | 25% | -19% | 5% | 87% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| ACM Win Rate | 67% | 50% | 50% | 67% | 58% | 50% | |
| Peers Win Rate | 58% | 57% | 57% | 63% | 50% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ACM Max Drawdown | -15% | -23% | -17% | -16% | -29% | -35% | |
| Peers Max Drawdown | -23% | -24% | -20% | -19% | -35% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: J, FLR, KBR, PSN, TTEK. See ACM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/12/2026 (YTD)
How Low Can It Go
| Event | ACM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -13.4% | -18.8% |
| % Gain to Breakeven | 15.5% | 23.1% |
| Time to Breakeven | 24 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.1% | -9.5% |
| % Gain to Breakeven | 17.8% | 10.5% |
| Time to Breakeven | 31 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -14.9% | -6.7% |
| % Gain to Breakeven | 17.6% | 7.1% |
| Time to Breakeven | 194 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.5% | -24.5% |
| % Gain to Breakeven | 25.8% | 32.4% |
| Time to Breakeven | 60 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -53.1% | -33.7% |
| % Gain to Breakeven | 113.1% | 50.9% |
| Time to Breakeven | 250 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.0% | -19.2% |
| % Gain to Breakeven | 31.5% | 23.8% |
| Time to Breakeven | 115 days | 105 days |
In The Past
AECOM's stock fell -13.4% during the 2025 US Tariff Shock. Such a loss loss requires a 15.5% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ACM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.5% | -24.5% |
| % Gain to Breakeven | 25.8% | 32.4% |
| Time to Breakeven | 60 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -53.1% | -33.7% |
| % Gain to Breakeven | 113.1% | 50.9% |
| Time to Breakeven | 250 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.0% | -19.2% |
| % Gain to Breakeven | 31.5% | 23.8% |
| Time to Breakeven | 115 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -38.8% | -6.8% |
| % Gain to Breakeven | 63.5% | 7.3% |
| Time to Breakeven | 299 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -36.5% | -17.9% |
| % Gain to Breakeven | 57.4% | 21.8% |
| Time to Breakeven | 491 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -28.1% | -15.4% |
| % Gain to Breakeven | 39.1% | 18.2% |
| Time to Breakeven | 959 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -47.6% | -53.4% |
| % Gain to Breakeven | 91.0% | 114.4% |
| Time to Breakeven | 42 days | 1085 days |
In The Past
AECOM's stock fell -13.4% during the 2025 US Tariff Shock. Such a loss loss requires a 15.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About AECOM (ACM)
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AECOM is a leading global professional services company specializing in infrastructure consulting. The firm provides a wide array of services to governments, businesses, and organizations across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region, helping to plan, design, and manage complex infrastructure projects worldwide.
The company's core offerings encompass planning, consulting, architectural and engineering design, along with construction and program management. Additionally, AECOM engages in investment and development activities for real estate projects through its AECOM Capital segment. It also delivers comprehensive construction services, including building construction and specialized work in energy, infrastructure, and industrial sectors.
AECOM's diverse client base includes both commercial and government entities. The company serves critical sectors such as transportation, water resources, government facilities, environmental services, and energy infrastructure, addressing a broad spectrum of infrastructure needs globally.
```AI Analysis | Feedback
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- It's like Accenture, but focused on designing, engineering, and managing large-scale physical infrastructure projects like roads, airports, and water systems globally.
- Think of them as one of the "Big Four" consulting firms (e.g., Deloitte or PwC), but specialized in engineering, design, and project management for massive infrastructure and real estate developments worldwide.
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- Infrastructure Consulting: Provides expert advice, planning, and strategic guidance for various large-scale infrastructure projects.
- Architectural and Engineering Design: Offers detailed design, technical specifications, and architectural plans for buildings, facilities, and infrastructure.
- Construction and Program Management: Oversees and manages the entire lifecycle of complex construction projects, ensuring efficient execution and completion.
- Real Estate Investment and Development: Invests in and develops real estate projects, leveraging market insights and development expertise.
- Construction Services: Directly undertakes the construction of buildings, energy infrastructure, and various industrial and public infrastructure projects.
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AECOM's major customers are primarily government entities and businesses operating across various infrastructure sectors. Based on the provided description, the company serves:
- Governments: This includes federal, state, and local government bodies in the Americas, Europe, the Middle East, Africa, and the Asia Pacific, acting as clients for planning, consulting, architectural and engineering design, construction and program management services.
- Commercial and Industrial Clients: These are businesses and organizations that fall within specific sectors globally, including:
- Transportation Sector (e.g., for infrastructure projects related to roads, railways, airports, and ports)
- Water Sector (e.g., for water treatment, supply, and management projects)
- Facilities Sector (e.g., for building construction, management, and related services)
- Environmental Sector (e.g., for environmental consulting and remediation projects)
- Energy Sector (e.g., for projects related to power generation, transmission, and distribution)
The background information provided does not list specific names of individual customer companies or their stock symbols. AECOM's client base is highly diversified across numerous projects and regions within these broad categories of government and commercial clients.
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Troy Rudd, Chairman and Chief Executive Officer
Troy Rudd was appointed Chief Executive Officer (CEO) of AECOM in August 2020, and also serves as Chairman. He has been instrumental in leading AECOM's transformation into a professional services organization focused on long-term value creation. Prior to becoming CEO, Mr. Rudd held various operational and financial leadership positions at AECOM, including Chief Financial Officer, where he directed the company's global financial operations and spearheaded its mergers and acquisitions activities. He joined AECOM in 2009. Before joining AECOM, he was a partner for 10 years with KPMG.
Gaurav Kapoor, Chief Financial & Operations Officer
Gaurav Kapoor was appointed Chief Financial Officer of AECOM in August 2020. He previously served as AECOM's Chief Accounting Officer and Global Controller since December 2016, and as Treasurer since October 2019. Prior to joining AECOM in May 2015, Mr. Kapoor spent 15 years at Ernst & Young LLP, where he held various leadership roles, including audit partner.
Lara Poloni, President
Lara Poloni became President of AECOM in August 2020. A longstanding member of the AECOM team since 1994, she has held several key leadership positions globally. These roles include Chief Executive of AECOM's operations in Europe, the Middle East, and Africa (EMEA) from 2017 to 2020, and Chief Executive of the Australia New Zealand business from 2014 to 2017. Ms. Poloni's career spans over 25 years, focusing predominantly on the planning, assessment, and development of major infrastructure projects for both public and private sector clients. She is also a member of the World Economic Forum’s Global Future Council on Infrastructure.
Drew Jeter, Executive Vice President, Chief Executive Program Management Global Business Line
Drew Jeter was appointed Chief Executive of AECOM’s global Program Management business in January 2021. He brings over 35 years of experience in the engineering and construction industry, leading the development and delivery of complex, multi-billion-dollar facilities and infrastructure programs. Before joining AECOM, Mr. Jeter held global program management leadership roles at Hill International, Jacobs, and CH2M. Prior to his private-sector career, he served for 23 years as a civil engineering officer in the U.S. Air Force, retiring with the rank of Colonel, and commanded four different organizations, including a base commander role.
David Gan, Chief Legal Officer
David Gan serves as AECOM’s worldwide Chief Legal Officer. In this role, he is responsible for all global legal activities, including mergers and acquisitions, legal transaction matters, and corporate governance, overseeing a team of legal and compliance professionals.
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Here are the key risks to AECOM's business:
- Reliance on Government Spending and Economic/Political Volatility: AECOM's business is highly susceptible to fluctuations in government infrastructure spending, which can be influenced by political developments, budgetary decisions, and potential government shutdowns. Delays in project funding or changes in government priorities can significantly impact contract awards and project execution. Furthermore, AECOM's international operations expose it to varying economic conditions, geopolitical uncertainties, and shifts in funding across different markets, which can create volatility in project activity.
- Highly Competitive Industry and Margin Pressure: The engineering and infrastructure services industry in which AECOM operates is highly competitive. This intense competition, particularly for large infrastructure projects, often leads to pricing pressure. The company also faces potential pressure on its margins from factors such as rising labor and compliance costs.
- Project Delivery and Execution Risks: Despite AECOM's strategic shift away from "self-perform at-risk construction businesses" to reduce its risk profile, the nature of its professional infrastructure consulting services inherently involves risks related to project delivery and execution. Failure to deliver projects on time or within the agreed-upon scope can lead to cost overruns, client claims, and potential losses.
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The rapid advancement and adoption of Artificial Intelligence (AI) and automation technologies within the architecture, engineering, and construction (AEC) industries pose a clear emerging threat. These technologies have the potential to automate significant portions of design, engineering analysis, project management, and planning tasks, reducing the reliance on traditional human-intensive consulting services. This could enable clients to perform more work in-house with advanced software or lead to the rise of specialized tech-driven firms offering similar outcomes with greater efficiency or at a lower cost, thereby eroding demand for AECOM's core professional infrastructure consulting services.
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AECOM (NYSE: ACM) operates in diverse and substantial addressable markets across its professional infrastructure consulting services.
Infrastructure Consulting Services
- The global infrastructure sector market was valued at approximately $2.72 trillion in 2024 and is projected to grow to $3.69 trillion by 2029, at a compound annual growth rate (CAGR) of 6.27%. Another report indicates the global infrastructure market is valued at approximately USD 2.7 trillion.
Engineering, Architectural, and Design Services
- The global engineering services market size was estimated at USD 3,419.59 billion in 2024 and is projected to reach USD 4,722.7 billion by 2030, growing at a CAGR of 5.7%. Asia Pacific held the largest revenue share, nearly 37%, in 2024. Another estimate values the global engineering services market at USD 2.34 trillion in 2025, projected to grow to USD 5.37 trillion by 2034 with a CAGR of 10.60%. In this market, Asia Pacific holds a 37.30% share in 2025, and the U.S. market size is estimated at USD 0.45 trillion in 2026.
- The global architectural services market was valued at $376.08 billion in 2023 and is forecast to grow at a CAGR of 4.9% from 2024 to 2030. Another source reports the global architectural services market size at USD 409.37 billion in 2025, predicted to reach approximately USD 621.95 billion by 2035, expanding at a CAGR of 4.27% from 2026 to 2035. The Asia Pacific region accounted for a revenue share of around 37% in 2025.
- The global engineering design service market was valued at approximately $45 billion in 2023 and is projected to reach around $85 billion by 2032, with a CAGR of 7%. North America holds a dominant position, and the Asia Pacific region is anticipated to witness the highest growth rate.
Construction and Program Management
- The global construction market is expected to grow from $15.19 trillion in 2023 to $19.86 trillion by 2028, with a 5.6% CAGR.
- The global transportation infrastructure construction market was valued at USD 3.4 trillion in 2022 and is anticipated to expand at a 4% CAGR during 2023 to 2032, projected to reach $5.1 trillion by 2032. Another estimate places the global transportation infrastructure construction market size at $3,654.96 billion in 2025, growing to $3,838.73 billion in 2026 at a CAGR of 5.0%, and $4,665.78 billion in 2030.
- The global architectural, engineering, and construction (AEC) services market was estimated at USD 130.07 billion in 2025 and is projected to reach USD 426.58 billion by 2033, growing at a CAGR of 16.5%. Asia Pacific held the largest revenue share of 36.6% in 2025.
Real Estate Investment and Development
- The global real estate market was valued at USD 7,517.4 billion in 2025 and is estimated to reach USD 8,760.4 billion by 2034, exhibiting a CAGR of 1.66% from 2026-2034. North America currently dominates this market, holding a 33.4% share in 2025. Another source values the global real estate market at USD 4 trillion.
- The global real estate development market is anticipated to be worth USD 7.65 billion in 2026, projected to reach USD 11.42 billion by 2035 at a CAGR of 4.5%.
- The global commercial real estate market size was valued at USD 6.72 trillion in 2024 and is expected to reach USD 9.11 trillion by 2033, growing at a CAGR of 3.44%. North America dominated the commercial real estate market, holding 36.8% of the global market share in 2024.
Specialized Sector Services
- Transportation: The global transportation infrastructure market was estimated at $1,770 billion in 2021 and is expected to reach $3,606.8 billion by 2031, registering a CAGR of 7.2%. In 2021, Asia-Pacific was the highest contributor to this market.
- Water: The global water infrastructure development market was valued at USD 25.84 billion in 2024 and is expected to reach USD 46.44 billion by 2030, with a CAGR of 10.10%. Asia-Pacific is noted as the fastest-growing region in this market. The global municipal water market size is estimated at USD 106.84 billion in 2025, set to expand to USD 174.48 billion by 2034, growing at a CAGR of 5.6%.
- Environmental: The global environmental consulting services market was valued at USD 43.20 billion in 2024 and is projected to reach USD 92.85 billion by 2034, expanding at a CAGR of 7.95%. North America is anticipated to continue its dominance, and Europe is poised for rapid growth in this market. Another report estimates the global environmental consulting service market size was valued at US$ 43.04 billion in 2023 and is anticipated to reach US$ 77.35 billion by 2031, at a CAGR of 7.6%.
- Energy: The global power infrastructure market size was approximately USD 1.5 trillion in 2023 and is projected to grow to USD 2.3 trillion by 2032, exhibiting a CAGR of around 5.2%. The Asia Pacific region is expected to dominate, valued at approximately USD 600 billion in 2023, and North America is a major market at approximately USD 400 billion in 2023. The global clean energy infrastructure market was valued at $0.7 trillion in 2023 and is projected to reach $1.8 trillion by 2033, growing at a CAGR of 9.2%.
Digital Consulting
- AECOM's addressable market for digital consulting is expected to reach $50 billion over the next decade.
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AECOM (NYSE: ACM) is expected to drive future revenue growth over the next 2-3 years through a combination of its robust project pipeline, a favorable market for infrastructure development, strategic investments in high-value services and technology, and enhanced operational efficiency.
Here are 5 expected drivers of AECOM's future revenue growth:
- Record Backlog and Strong Project Pipeline: AECOM has consistently reported a record backlog, reaching approximately $26 billion recently, with a book-to-burn ratio of 1.5x, marking its 21st consecutive quarter above 1.0. This substantial backlog provides strong visibility into future revenue and demonstrates a continuous ability to secure new projects.
- Increased Global Infrastructure Investment: The company is well-positioned to capitalize on significant global and U.S. government-backed infrastructure spending. Demand for services in transportation, water systems, environmental infrastructure, and data centers is creating a steady pipeline of projects for AECOM.
- Strategic Focus on High-Value Advisory Services: AECOM is actively expanding its high-growth advisory segments, aiming to double the Net Service Revenue (NSR) from its Advisory business within three years. This focus on higher-margin consulting and advisory services is expected to enhance both revenue quality and overall growth.
- Investment in AI and Technology Integration: AECOM views significant investment in artificial intelligence (AI) and technology integration as a key competitive advantage. These advancements are anticipated to transform work processes, provide greater value to clients, and underpin market share gains and addressable market expansion, thereby driving revenue growth.
- Operational Efficiency and Margin Expansion: The company's ongoing strategy to enhance operational efficiency and shift towards an asset-light, professional services model is contributing to improved margins. This focus on higher-value work and efficient delivery allows AECOM to be more selective and competitive in securing profitable contracts, which in turn supports sustainable revenue growth.
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Capital Allocation Decisions for AECOM (ACM)
AECOM has demonstrated a clear focus on returning capital to shareholders through significant share repurchases and making strategic investments in its core business and growth areas over the last 3-5 years.
Share Repurchases
- AECOM's Board of Directors increased its share repurchase authorization to $1 billion in November 2024, November 2023, and September 2021, and again to $1,000 million in February 2026.
- The company completed a multi-year share repurchase program totaling approximately $3.14 billion, and has repurchased a total of 45,272,368 shares for $2,826.48 million under its long-running program as of the fourth quarter of fiscal year 2025.
- Since initiating its repurchase program in September 2020, AECOM has bought back $2.2 billion of stock as of November 2024, reducing its shares outstanding by 21%.
Share Issuance
- No significant share issuances were identified, with the number of outstanding shares reported as 133.31 million in 2026, showing no change from the previous year.
Outbound Investments
- AECOM is prioritizing high-returning investments in accelerating organic growth, margin expansion, and proprietary AECOM AI and Advisory services to enhance its competitive advantage.
- The company initiated a review of strategic alternatives for its Construction Management business in November 2025, including a potential sale, to further focus on its fastest-growing and highest-returning opportunities; however, the review was completed in February 2026, with the decision to continue owning and operating the business.
- AECOM entered into a global mobility and infrastructure planning partnership with TomTom in early 2026, integrating TomTom's traffic datasets into its consulting services.
Capital Expenditures
- AECOM's capital expenditures for fiscal years ending September 2021 to 2025 averaged $2.454 billion, with a median of $2.503 billion.
- Capital expenditures peaked at $2.813 billion in September 2021 and reached a 5-year low of $1.841 billion in September 2023.
- For the last twelve months, capital expenditures were reported as -$124.78 million, contributing to a free cash flow of $615.95 million.
Peer Outperformance in Construction & Engineering
ACM has trailed 87% of its 30 Construction & Engineering peers over 5Y. Among the peers that beat it are MYRG, FLR and APG. Construction & Engineering ranks 1st of 23 industries in Industrials by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Construction & Engineering constituents that ACM has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
6%
of 33 industry peers · -48.8% return
3Y
16%
of 31 industry peers · -28.7% return
5Y
13%
of 30 industry peers · 0.4% return
Construction & Engineering peers with revenue growth within 4pp of ACM's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| ACM | AECOM | 3.6% | 27.2x | -48.8% | -28.7% | 0.4% | — |
| MYRG | MYR | 6.3% | 31.4x | 72.8% | 133.1% | 234.3% | +234pp |
| FLR | Fluor | 1.2% | -3.6x | 19.7% | 50.1% | 199.0% | +199pp |
| APG | APi | 7.5% | 54.5x | 22.8% | 133.1% | 193.5% | +193pp |
| ACA | Arcosa | 7.1% | 14.5x | 46.4% | 86.1% | 189.0% | +189pp |
| TTEK | Tetra Tech | 7.5% | 21.0x | -2.8% | 7.4% | 30.5% | +30pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Construction & Engineering is ACM's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering ← | 31 | 33.5% | 137.8% | 201.6% | CDNL 2667% · STRL 2272% · FIX 2224% |
| Marine Transportation | 9 | 62.0% | 74.0% | 135.3% | ASC 532% · MATX 213% · SB 166% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 14.9% | 56.6% | 108.9% | CAT 327% · ALSN 244% · WAB 242% |
| Aerospace & Defense | 55 | 14.5% | 84.3% | 92.1% | DFNS 4877% · ATI 1083% · FTAI 1048% |
| Passenger Ground Transportation | 3 | -12.7% | 45.7% | 59.7% | UBER 78% · CAR 60% · LYFT -69% |
| Industrial Machinery & Supplies & Components | 71 | 15.1% | 58.6% | 59.1% | CRS 1424% · PSIX 1005% · GHM 826% |
| Cargo Ground Transportation | 16 | 46.9% | 15.3% | 52.2% | PAMT 679% · XPO 282% · R 275% |
| Trading Companies & Distributors | 18 | 11.8% | 38.8% | 43.0% | DXPE 563% · AIT 306% · URI 232% |
| Rail Transportation | 7 | 37.3% | 65.5% | 42.2% | FSTR 111% · CSX 58% · UNP 44% |
| Diversified Support Services | 33 | 13.2% | 34.5% | 40.8% | LIME 4279% · TH 373% · WLFC 373% |
| Electrical Components & Equipment | 40 | 34.7% | 49.9% | 37.9% | POWL 2415% · BE 1017% · VRT 967% |
| Building Products | 34 | 1.2% | 16.9% | 29.4% | GFF 462% · LMB 422% · PPIH 285% |
| Office Services & Supplies | 10 | 21.8% | 25.0% | 3.8% | TILE 190% · PBI 158% · EBF 55% |
| Research & Consulting Services | 13 | -7.7% | -20.2% | -3.1% | HURN 216% · CRAI 98% · GRNQ 21% |
| Environmental & Facilities Services | 28 | -10.2% | 13.1% | -5.4% | CECO 1023% · ADUR 627% · NVRI 295% |
| Industrial Conglomerates | 18 | 18.7% | 20.3% | -5.9% | RCMT 566% · TTI 177% · CSW 173% |
| Passenger Airlines | 11 | 22.7% | -0.9% | -17.8% | LTM 2232% · UAL 169% · SKYW 156% |
| Agricultural & Farm Machinery | 17 | -5.6% | -17.1% | -25.1% | BLBD 182% · DE 72% · GENC 52% |
| Data Processing & Outsourced Services | 6 | -33.7% | -16.3% | -29.5% | EXLS 43% · BR 6% · MMS -29% |
| Air Freight & Logistics | 12 | -17.3% | -13.2% | -35.6% | CHRW 80% · FDX 62% · EXPD 58% |
| Human Resource & Employment Services | 21 | 7.1% | -26.3% | -37.1% | BBSI 69% · ADP 40% · KFY 35% |
| Security & Alarm Services | 10 | -23.7% | -25.2% | -40.5% | CIX 108% · MG 80% · NL 57% |
| Airport Services | 3 | -68.8% | -62.6% | -58.0% | JOBY -16% · ASLE -58% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| AECOM Earnings Notes | 05/08/2026 | |
| Is 26.3% Fall In AECOM (ACM) Stock A Buying Opportunity? | 12/17/2025 | |
| Is 22.7% Fall In AECOM (ACM) Stock A Buying Opportunity? | 11/26/2025 | |
| Would You Still Hold AECOM Stock If It Fell Another 30%? | 10/17/2025 | |
| AECOM vs T-Mobile US: Which Is A Better Investment? | 08/18/2025 | |
| AECOM vs United Rentals: Which Is A Better Investment? | 08/18/2025 | |
| How Does AECOM Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Better Bet Than ACM Stock: Pay Less Than AECOM To Get More From DIS, FI | 08/12/2025 | |
| ARTICLES | ||
| How Will AECOM Stock React To Its Upcoming Earnings? | 05/08/2026 | |
| AECOM Stock To $69? | 12/17/2025 | |
| AECOM Stock To $73? | 11/26/2025 | |
| Mid Cap Stocks Trading At 52-Week High | 09/16/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 50.16 |
| Mkt Cap | 7.5 |
| Rev LTM | 10,971 |
| Op Inc LTM | 570 |
| FCF LTM | 332 |
| FCF 3Y Avg | 437 |
| CFO LTM | 397 |
| CFO 3Y Avg | 476 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -4.5% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 0.6% |
| QoQ Delta Rev Chg LTM | 0.1% |
| Op Inc Chg LTM | -22.5% |
| Op Inc Chg 3Y Avg | 17.2% |
| Op Mgn LTM | 5.0% |
| Op Mgn 3Y Avg | 5.9% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 5.2% |
| CFO/Rev 3Y Avg | 6.3% |
| FCF/Rev LTM | 4.6% |
| FCF/Rev 3Y Avg | 5.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.5 |
| P/S | 0.7 |
| P/Op Inc | 13.2 |
| P/EBIT | 12.6 |
| P/E | 24.1 |
| P/CFO | 14.8 |
| Total Yield | 4.3% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 4.8% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.7% |
| 3M Rtn | 20.5% |
| 6M Rtn | -9.0% |
| 12M Rtn | -12.5% |
| 3Y Rtn | -2.2% |
| 1M Excs Rtn | 1.8% |
| 3M Excs Rtn | 13.1% |
| 6M Excs Rtn | -26.0% |
| 12M Excs Rtn | -33.8% |
| 3Y Excs Rtn | -73.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Americas | 12,526 | 12,486 | 10,976 | 9,939 | 10,226 |
| International | 3,613 | 3,618 | 3,402 | 3,207 | 3,113 |
| AECOM Capital | 0 | 1 | 1 | 2 | 2 |
| Corporate | 0 | 0 | |||
| Total | 16,140 | 16,106 | 14,379 | 13,148 | 13,341 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Americas | 775 | 715 | 654 | 643 | 600 |
| International | 337 | 255 | 221 | 177 | 136 |
| AECOM Capital | -40 | -316 | 14 | 2 | 13 |
| Corporate | -244 | -329 | -242 | -193 | -368 |
| Total | 827 | 324 | 647 | 630 | 381 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Americas | 7,867 | 7,988 | 7,433 | 7,232 | 7,205 |
| International | 2,703 | 2,734 | 2,536 | 2,468 | 2,764 |
| Current assets held for sale | 1,589 | 1,286 | |||
| AECOM Capital | 42 | 53 | 64 | 265 | 235 |
| Corporate | 1,104 | 1,095 | 1,391 | ||
| Total | 12,200 | 12,062 | 11,138 | 11,060 | 11,595 |
Price Behavior
Price Behavior
| Market Price | $61.04 | |
| Market Cap ($ Bil) | 7.9 | |
| First Trading Date | 05/10/2007 | |
| Distance from 52W High | -54.1% | |
| 50 Days | 200 Days | |
| DMA Price | $70.04 | $88.99 |
| DMA Trend | down | down |
| Distance from DMA | -12.8% | -31.4% |
| 3M | 1YR | |
| Volatility | 38.6% | 35.5% |
| Downside Capture | 131.87 | 167.94 |
| Upside Capture | 47.10 | 53.23 |
| Correlation (SPY) | 23.0% | 32.7% |
ACM Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.54 | 0.40 | 0.39 | 0.79 | 0.80 | 0.85 |
| Up Beta | -2.54 | -1.40 | -0.94 | 0.14 | 0.36 | 0.86 |
| Down Beta | -0.27 | 0.67 | -0.15 | 0.56 | 0.81 | 0.68 |
| Up Capture | 207% | 103% | 53% | 65% | 48% | 56% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 14 | 26 | 34 | 64 | 133 | 397 |
| Down Capture | 136% | 67% | 138% | 141% | 122% | 102% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 8 | 17 | 28 | 61 | 118 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACM | |
|---|---|---|---|---|
| ACM | -48.3% | 35.5% | -1.79 | - |
| Sector ETF (XLI) | 25.0% | 17.0% | 1.14 | 35.4% |
| Equity (SPY) | 22.6% | 12.8% | 1.32 | 31.8% |
| Gold (GLD) | 31.4% | 28.4% | 0.95 | 8.6% |
| Commodities (DBC) | 37.9% | 20.1% | 1.48 | -8.5% |
| Real Estate (VNQ) | 14.3% | 13.8% | 0.73 | 18.6% |
| Bitcoin (BTCUSD) | -46.5% | 42.9% | -1.33 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACM | |
|---|---|---|---|---|
| ACM | 0.9% | 27.4% | 0.04 | - |
| Sector ETF (XLI) | 14.3% | 17.6% | 0.64 | 62.5% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 55.7% |
| Gold (GLD) | 19.0% | 18.6% | 0.83 | 9.0% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | 13.2% |
| Real Estate (VNQ) | 2.2% | 18.9% | 0.01 | 47.0% |
| Bitcoin (BTCUSD) | 9.9% | 52.8% | 0.37 | 23.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACM | |
|---|---|---|---|---|
| ACM | 6.3% | 31.3% | 0.26 | - |
| Sector ETF (XLI) | 14.4% | 20.0% | 0.63 | 68.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 61.0% |
| Gold (GLD) | 12.0% | 16.2% | 0.61 | 4.5% |
| Commodities (DBC) | 8.0% | 18.0% | 0.36 | 25.5% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 53.0% |
| Bitcoin (BTCUSD) | 60.9% | 66.1% | 1.01 | 16.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/13/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -8.5% | ||
| 5/11/2026 | -12.0% | -10.1% | -13.7% |
| 2/9/2026 | 1.1% | -11.2% | -10.8% |
| 11/18/2025 | -3.6% | -21.3% | -26.2% |
| 8/4/2025 | 6.3% | 6.5% | 10.8% |
| 5/5/2025 | 0.7% | 4.1% | 8.4% |
| 2/3/2025 | 0.3% | 4.0% | -7.6% |
| 11/18/2024 | -0.3% | 7.1% | -2.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 15 |
| # Negative | 11 | 8 | 9 |
| Median Positive | 2.7% | 4.0% | 6.4% |
| Median Negative | -3.1% | -5.5% | -7.6% |
| Max Positive | 7.4% | 9.6% | 15.2% |
| Max Negative | -12.0% | -21.3% | -26.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -8.5% | ||
| 5/11/2026 | -12.0% | -10.1% | -13.7% |
| 2/9/2026 | 1.1% | -11.2% | -10.8% |
| 11/18/2025 | -3.6% | -21.3% | -26.2% |
| 8/4/2025 | 6.3% | 6.5% | 10.8% |
| 5/5/2025 | 0.7% | 4.1% | 8.4% |
| 2/3/2025 | 0.3% | 4.0% | -7.6% |
| 11/18/2024 | -0.3% | 7.1% | -2.0% |
| 8/5/2024 | 5.1% | 9.6% | 11.3% |
| 5/6/2024 | -3.3% | -4.5% | -10.4% |
| 2/5/2024 | -0.2% | 1.6% | 0.8% |
| 11/13/2023 | 7.4% | 7.9% | 15.2% |
| 8/7/2023 | -1.9% | 3.2% | -1.8% |
| 5/8/2023 | -2.8% | -3.7% | 0.7% |
| 2/6/2023 | 2.7% | 2.3% | 1.0% |
| 11/14/2022 | 0.7% | 2.9% | 9.9% |
| 8/8/2022 | 2.7% | 8.3% | 4.0% |
| 5/9/2022 | -7.6% | -6.5% | 1.3% |
| 2/7/2022 | 5.4% | 3.3% | 6.7% |
| 11/15/2021 | 2.7% | 3.2% | 3.5% |
| 8/9/2021 | -1.6% | -0.1% | 3.6% |
| 5/10/2021 | 0.1% | -2.9% | -6.0% |
| 2/8/2021 | -3.1% | 4.5% | 10.1% |
| 11/16/2020 | 2.1% | 1.5% | -3.3% |
| 8/4/2020 | 3.1% | 4.2% | 6.4% |
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 15 |
| # Negative | 11 | 8 | 9 |
| Median Positive | 2.7% | 4.0% | 6.4% |
| Median Negative | -3.1% | -5.5% | -7.6% |
| Max Positive | 7.4% | 9.6% | 15.2% |
| Max Negative | -12.0% | -21.3% | -26.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 02/10/2026 | 10-Q |
| 09/30/2025 | 11/19/2025 | 10-K |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/19/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/15/2023 | 10-K |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 02/10/2026 | 10-Q |
| 09/30/2025 | 11/19/2025 | 10-K |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/19/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/15/2023 | 10-K |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-K |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 02/09/2022 | 10-Q |
| 09/30/2021 | 11/17/2021 | 10-K |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 02/10/2021 | 10-Q |
| 09/30/2020 | 11/19/2020 | 10-K |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/05/2020 | 10-Q |
| 09/30/2019 | 11/13/2019 | 10-K |
Recent Forward Guidance
Updated 8/11/2026Latest: Q3 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 3.95 | 4.05 | 4.15 | -32.5% | Lowered | Guidance: 6 for 2026 | |
| 2026 Adjusted EBITDA | 935.00 Mil | 950.00 Mil | 965.00 Mil | -26.4% | Lowered | Guidance: 1.29 Bil for 2026 | |
| 2026 Total NSR | 7.30 Bil | 7.33 Bil | 7.35 Bil | ||||
| 2026 Free Cash Flow | 300.00 Mil | -25.0% | Lowered | Guidance: 400.00 Mil for 2026 | |||
| 2026 Adjusted EPS (Excl. CM Charge) | 5.9 | 6 | 6.1 | ||||
| 2026 Adjusted EBITDA (Excl. CM Charge) | 1.27 Bil | 1.29 Bil | 1.30 Bil | ||||
Prior: Q2 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 5.9 | 6 | 6.1 | 0.8% | Raised | Guidance: 5.95 for 2026 | |
| 2026 Adjusted EBITDA | 1.27 Bil | 1.29 Bil | 1.30 Bil | 0.2% | Raised | Guidance: 1.29 Bil for 2026 | |
| 2026 Organic NSR Growth | 6.0% | 7.0% | 8.0% | 0.0% | Affirmed | Guidance: 7.0% for 2026 | |
| 2026 Segment Adjusted Operating Margin | 16.8% | ||||||
| 2026 Adjusted EBITDA Margin | 17.0% | ||||||
| 2026 Free Cash Flow | 400.00 Mil | 0.0% | Affirmed | Guidance: 400.00 Mil for 2026 | |||
| 2026 Adjusted Effective Tax Rate | 20.0% | 21.0% | 22.0% | 0.0% | Affirmed | Guidance: 21.0% for 2026 | |
Q1 2026 Earnings Reported 2/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 5.85 | 5.95 | 6.05 | 3.5% | Raised | Guidance: 5.75 for 2026 | |
| 2026 Adjusted EBITDA | 1.27 Bil | 1.29 Bil | 1.30 Bil | 0.2% | Raised | Guidance: 1.28 Bil for 2026 | |
| 2026 Organic NSR Growth | 6.0% | 7.0% | 8.0% | 0.0% | Affirmed | Guidance: 7.0% for 2026 | |
| 2026 Free Cash Flow | 400.00 Mil | 0.0% | Affirmed | Guidance: 400.00 Mil for 2026 | |||
| 2026 Adjusted Effective Tax Rate | 20.0% | 21.0% | 22.0% | -1.5% | Lowered | Guidance: 22.5% for 2026 | |
Q4 2025 Earnings Reported 11/18/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 5.65 | 5.75 | 5.85 | 9.5% | Higher New | Guidance: 5.25 for 2025 | |
| 2026 Adjusted EBITDA | 1.26 Bil | 1.28 Bil | 1.30 Bil | 7.1% | Higher New | Guidance: 1.20 Bil for 2025 | |
| 2026 Free Cash Flow | 400.00 Mil | ||||||
| 2026 Organic NSR Growth | 6.0% | 7.0% | 8.0% | 0.5% | Higher New | Guidance: 6.5% for 2025 | |
| 2026 NSR | 7.20 Bil | 7.30 Bil | 7.40 Bil | ||||
| 2026 Adjusted EBITDA (Continuing Business) | 1.18 Bil | 1.20 Bil | 1.22 Bil | ||||
| 2026 Adjusted EPS (Continuing Business) | 5.15 | 5.25 | 5.35 | ||||
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Poloni, Lara | PRESIDENT | Direct | Buy | 6162026 | 70.63 | 4,224 | 298,341 | 10,837,891 | Form |
| 2 | Kapoor, Gaurav | CHIEF FINANCIAL OFFICER (PAO) | Direct | Buy | 5142026 | 71.12 | 1,420 | 100,990 | 6,262,329 | Form |
| 3 | Rudd, Troy | CHIEF EXECUTIVE OFFICER | Direct | Buy | 5142026 | 71.02 | 4,225 | 300,060 | 10,099,541 | Form |
| 4 | Gan, David Y | CHIEF LEGAL OFFICER | Direct | Sell | 12172025 | 97.01 | 9,502 | 921,789 | 4,030,668 | Form |
| 5 | Poloni, Lara | PRESIDENT | Direct | Sell | 12172025 | 97.02 | 17,533 | 1,701,135 | 14,478,227 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Poloni, Lara | PRESIDENT | Direct | Buy | 6162026 | 70.63 | 4,224 | 298,341 | 10,837,891 | Form |
| 2 | Kapoor, Gaurav | CHIEF FINANCIAL OFFICER (PAO) | Direct | Buy | 5142026 | 71.12 | 1,420 | 100,990 | 6,262,329 | Form |
| 3 | Rudd, Troy | CHIEF EXECUTIVE OFFICER | Direct | Buy | 5142026 | 71.02 | 4,225 | 300,060 | 10,099,541 | Form |
| 4 | Gan, David Y | CHIEF LEGAL OFFICER | Direct | Sell | 12172025 | 97.01 | 9,502 | 921,789 | 4,030,668 | Form |
| 5 | Poloni, Lara | PRESIDENT | Direct | Sell | 12172025 | 97.02 | 17,533 | 1,701,135 | 14,478,227 | Form |
| 6 | Gan, David Y | CHIEF LEGAL OFFICER | Direct | Sell | 12172025 | 98.85 | 6,000 | 593,100 | 5,046,391 | Form |
| 7 | Rudd, Troy | CHIEF EXECUTIVE OFFICER | Direct | Sell | 8182025 | 119.56 | 53,097 | Form |
Investor Activity (13F)
Updated Aug 13, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
AECOM — Investor Video Playlist
Products & Services
Strategy in Transit: Future of Transit Bus E3 - The future value of Bus Rapid Transit
Investor / Analyst
Shape Ireland’s Future: Explore Careers with AECOM | Annual Review 2026
Products & Services
Helena talks about the energy transition and AECOM’s role in delivering this
Products & Services
Regenerative Remediation – Restore, Reimagine, Renew
Products & Services
PFAS Prevention: How we can lessen the load
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Construction & Engineering Resources |
| Engineering News-Record (ENR) |
| Construction Dive |
| Civil Engineering Magazine |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 8/12/2026