Amentum (AMTM)
Market Price (10/24/2026): $21.63 | Market Cap: $5.3 BilSector: Industrials | Industry: Diversified Support Services
Amentum (AMTM)
Market Price (10/24/2026): $21.63Market Cap: $5.3 BilSector: IndustrialsIndustry: Diversified Support Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 8.9% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Sustainable Infrastructure, and Datacenter Power. Themes include Commercial Space Exploration, Show more. | Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -109% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.0% Key risksAMTM key risks include [1] its high leverage profile, Show more. |
| Attractive yieldFCF Yield is 8.9% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Sustainable Infrastructure, and Datacenter Power. Themes include Commercial Space Exploration, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -109% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.0% |
| Key risksAMTM key risks include [1] its high leverage profile, Show more. |
Qualitative Assessment
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Amentum (AMTM) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Amentum reported stronger-than-expected profitability and cash flow in its fiscal Q3 2026 earnings, which ended July 3, 2026, and were announced on August 10, 2026. The company's adjusted diluted earnings per share (EPS) of $0.67 substantially exceeded Wall Street's estimate of $0.40. Net income saw a significant increase to $66 million, up from $10 million in the prior-year period (a 560% rise), while operating income grew 67% year-over-year to $172 million. Additionally, adjusted EBITDA increased by 6% to $290 million, and free cash flow rose 35% to $135 million. This robust operational performance and strong cash generation demonstrated the company's efficiency and resilience, despite a slight revenue miss.
2. The company secured several significant contract awards and demonstrated substantial backlog growth within the period, bolstering future revenue visibility. Notably, on September 29, 2026, Amentum won a seven-year, $572.4 million contract from the U.S. Air Force to support the NORAD Cheyenne Mountain Complex through September 2033. Furthermore, during fiscal Q3 2026, Amentum secured over $400 million in bookings for advanced nuclear technologies and approximately $250 million in contracts for critical digital infrastructure. These wins contributed to an overall increase in its total backlog to $48.2 billion, an 8% rise from the prior year, and a book-to-bill ratio of 1.1x.
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Amentum (AMTM) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Amentum reported stronger-than-expected profitability and cash flow in its fiscal Q3 2026 earnings, which ended July 3, 2026, and were announced on August 10, 2026. The company's adjusted diluted earnings per share (EPS) of $0.67 substantially exceeded Wall Street's estimate of $0.40. Net income saw a significant increase to $66 million, up from $10 million in the prior-year period (a 560% rise), while operating income grew 67% year-over-year to $172 million. Additionally, adjusted EBITDA increased by 6% to $290 million, and free cash flow rose 35% to $135 million. This robust operational performance and strong cash generation demonstrated the company's efficiency and resilience, despite a slight revenue miss.
2. The company secured several significant contract awards and demonstrated substantial backlog growth within the period, bolstering future revenue visibility. Notably, on September 29, 2026, Amentum won a seven-year, $572.4 million contract from the U.S. Air Force to support the NORAD Cheyenne Mountain Complex through September 2033. Furthermore, during fiscal Q3 2026, Amentum secured over $400 million in bookings for advanced nuclear technologies and approximately $250 million in contracts for critical digital infrastructure. These wins contributed to an overall increase in its total backlog to $48.2 billion, an 8% rise from the prior year, and a book-to-bill ratio of 1.1x.
3. Amentum's management raised its fiscal year 2026 guidance for key profitability metrics, signaling confidence in sustained performance. Following the fiscal Q3 2026 results, Amentum increased its full fiscal year 2026 guidance for both Adjusted EBITDA and Adjusted Diluted EPS. This upward revision of guidance, despite acknowledging some near-term revenue outlook dynamics, reassured investors about the company's ability to maintain and grow profitability.
4. Positive analyst sentiment and a strong broader defense technology and government services market provided a favorable environment for the stock. Several analysts maintained or issued positive ratings for Amentum, with a consensus "Buy" rating from multiple firms as of October 2026, and an average price target indicating significant upside. The defense sector at large demonstrated strength during the period, with peers like Lockheed Martin reporting robust Q3 2026 earnings, increased sales, and record backlogs. This broader sector tailwind, driven by geopolitical factors and consistent government spending priorities on national security, advanced technologies, and modernization, created a supportive market for Amentum.
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Stock Movement Drivers
Fundamental Drivers
The 5.3% change in AMTM stock from 6/30/2026 to 10/23/2026 was primarily driven by a 38.5% change in the company's Net Income Margin (%).| (LTM values as of) | 6302026 | 10232026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.67 | 21.76 | 5.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,201 | 14,130 | -0.5% |
| Net Income Margin (%) | 1.0% | 1.4% | 38.5% |
| P/E Multiple | 34.1 | 26.0 | -23.6% |
| Shares Outstanding (Mil) | 244 | 244 | 0.0% |
| Cumulative Contribution | 5.3% |
Market Drivers
6/30/2026 to 10/23/2026| Return | Correlation | |
|---|---|---|
| AMTM | 5.3% | |
| Market (SPY) | 1.8% | 30.3% |
| Sector (XLI) | -11.1% | 39.9% |
Fundamental Drivers
The -16.6% change in AMTM stock from 3/31/2026 to 10/23/2026 was primarily driven by a -59.9% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10232026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.08 | 21.76 | -16.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,214 | 14,130 | -0.6% |
| Net Income Margin (%) | 0.7% | 1.4% | 109.4% |
| P/E Multiple | 64.9 | 26.0 | -59.9% |
| Shares Outstanding (Mil) | 244 | 244 | 0.0% |
| Cumulative Contribution | -16.6% |
Market Drivers
3/31/2026 to 10/23/2026| Return | Correlation | |
|---|---|---|
| AMTM | -16.6% | |
| Market (SPY) | 17.2% | 27.3% |
| Sector (XLI) | 2.0% | 26.3% |
Fundamental Drivers
The -9.1% change in AMTM stock from 9/30/2025 to 10/23/2026 was primarily driven by a -76.7% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10232026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.95 | 21.76 | -9.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,680 | 14,130 | 11.4% |
| Net Income Margin (%) | 0.4% | 1.4% | 252.0% |
| P/E Multiple | 111.9 | 26.0 | -76.7% |
| Shares Outstanding (Mil) | 243 | 244 | -0.4% |
| Cumulative Contribution | -9.1% |
Market Drivers
9/30/2025 to 10/23/2026| Return | Correlation | |
|---|---|---|
| AMTM | -9.1% | |
| Market (SPY) | 15.0% | 30.8% |
| Sector (XLI) | 7.7% | 34.3% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/23/2026| Return | Correlation | |
|---|---|---|
| AMTM | ||
| Market (SPY) | 83.9% | 38.1% |
| Sector (XLI) | 68.9% | 40.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AMTM Return | - | - | - | -35% | 38% | -27% | -34% |
| Peers Return | -5% | 26% | 17% | 20% | -3% | 2% | 65% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| AMTM Win Rate | - | - | - | 0% | 42% | 40% | |
| Peers Win Rate | 53% | 60% | 62% | 68% | 55% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AMTM Max Drawdown | - | - | - | - | -30% | -52% | |
| Peers Max Drawdown | -23% | -18% | -16% | -27% | -33% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LDOS, BAH, CACI, SAIC, PSN.
[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 10/23/2026 (YTD)
How Low Can It Go
| Event | AMTM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.6% | -18.8% |
| % Gain to Breakeven | 29.2% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
In The Past
Amentum's stock fell -22.6% during the 2025 US Tariff Shock. Such a loss loss requires a 29.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | AMTM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.6% | -18.8% |
| % Gain to Breakeven | 29.2% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
In The Past
Amentum's stock fell -22.6% during the 2025 US Tariff Shock. Such a loss loss requires a 29.2% 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 Amentum (AMTM)
Amentum (AMTM) is a global leader specializing in advanced engineering and innovative technology solutions. The company's core mission is to address highly complex and significant challenges for the United States government and its allies. These critical areas of focus include science, national security, and sustainability, where Amentum applies its expertise to drive progress and solve demanding technical and operational problems.
With a substantial global footprint, Amentum serves governmental clients and markets by delivering specialized services across all seven continents, leveraging a workforce of over 53,000 employees in approximately 80 countries. Their main products and services encompass a broad range of advanced engineering, technology integration, and operational support, vital for high-stakes projects in defense, intelligence, scientific research, and environmental management sectors worldwide.
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Here are a few analogies to describe Amentum (AMTM):
- Booz Allen Hamilton for advanced engineering and global government challenges.
- Leidos for global, complex engineering and national security solutions.
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- Science Solutions: Providing advanced engineering and innovative technology solutions to address complex challenges in scientific research, development, and operational support.
- Security Solutions: Delivering advanced engineering and innovative technology solutions for national security, defense, and intelligence challenges for governmental clients.
- Sustainability Solutions: Offering advanced engineering and innovative technology solutions to tackle environmental issues, energy management, and infrastructure resilience.
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Amentum (AMTM) primarily serves governmental entities rather than other public companies or individuals. Its major customers include:
- United States Department of Defense (DoD): This encompasses various branches and agencies, including the Army, Navy, Air Force, Marine Corps, and other defense-related organizations.
- United States Department of Energy (DoE): Amentum holds significant contracts for managing national laboratories and nuclear facilities under the DoE.
- United States National Aeronautics and Space Administration (NASA): Providing support for space exploration and related programs.
- United States Department of State: Offering support for diplomatic and foreign policy initiatives.
- United States Department of Homeland Security (DHS): Contributing to national security and emergency preparedness efforts.
- Allied Governments: Amentum also provides its services and solutions to various international governments that are allies of the United States.
These customers are governmental agencies and do not have public company symbols.
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John Heller, Chief Executive Officer
John Heller was appointed CEO of Amentum in March 2022, having previously served as CEO of the legacy Amentum company since 2022 where he led the integration of two multi-billion-dollar acquisitions. Prior to Amentum, he was the Chief Executive Officer and President of PAE, which he guided to become a publicly traded company. He also served as Chief Executive Officer of Netco, Inc., a Cerberus Capital Management (private equity) portfolio company, overseeing its sale to Harris Corp. His first CEO position was at Rentport, Inc., a company backed by Catterton Partners (now L Catterton), a private equity firm. Heller's career also includes roles as Senior Vice President and Chief Operating Officer of Engility Corporation and leadership positions at Harris Corporation.
Travis Johnson, Chief Financial Officer
Travis Johnson was appointed Chief Financial Officer of Amentum in July 2023. In this role, he is responsible for all financial activities, including accounting, finance strategy, business operations, planning and analysis, treasury, and investor relations. Before joining Amentum, Johnson served as Senior Vice President, Corporate Controller, and Chief Accounting Officer at CACI. He also held the Chief Accounting Officer position at FLIR Systems and KeyW Corporation, where he led transformation efforts that resulted in the sale of both companies. His experience also includes various finance leadership roles at Leidos and a start to his career in public accounting at RSM.
Dr. Stephen (Steve) Arnette, Chief Operating Officer
Dr. Stephen Arnette serves as the Chief Operating Officer for Amentum, a role he assumed effective September 27, 2024. He is responsible for leading business operations and supporting strategic growth initiatives for the company. Prior to the Amentum-Jacobs Critical Mission Solutions business merger in 2024, Arnette was Jacobs' Executive Vice President and President of the Critical Mission Solutions (CMS) line of business. He has over 29 years of experience at Jacobs, holding various senior leadership positions across multiple sectors and operations, including leading the AERO business unit and serving as General Manager of Jacobs' Technology Group.
Sean Mullen, Chief Growth Officer
Sean Mullen serves as the Chief Growth Officer at Amentum, responsible for leading the company's business development and growth strategy. He joined Amentum in 2022 as Executive Vice President of Business Development and was appointed to his current role following the September 27, 2024 transaction. With a career spanning over 30 years, Mullen has held growth leadership roles at companies such as Perspecta, HP Enterprise Services, and Northrop Grumman, and began his career as a civilian employee with the U.S. Air Force.
Michele St. Mary, Chief Legal Officer and General Counsel
Michele St. Mary was appointed Chief Legal Officer and General Counsel for Amentum, effective February 17, 2025. In this role, she oversees Amentum's legal, ethics, compliance, contracts, and security functions globally. St. Mary brings over 25 years of experience in the government contracting industry. Before joining Amentum, she spent 19 years at L3Harris Technologies, most recently as Vice President, Deputy General Counsel, and Assistant Secretary, where she provided legal oversight for mergers and acquisitions and strategic integrations. Her prior experience also includes roles as Senior Counsel for Sun Microsystems, Inc. and an associate at Crowell & Moring LLP.
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- Reliance on U.S. Government Contracts and Spending Volatility: Amentum is highly dependent on contracts with the U.S. government and its allies. This reliance exposes the company to risks associated with shifts in governmental budgetary priorities, potential funding delays, administrative hurdles, and government shutdowns, all of which can negatively impact revenue generation and growth.
- Contract Execution and Performance: The company faces risks related to its ability to effectively manage project costs, adhere to performance requirements, and meet contractual schedules. Additionally, the timing of significant project ramp-ups and the ability to secure new contracts are crucial. Amentum has also experienced the loss of legacy contracts, which can create near-term revenue challenges.
- Execution of Deleveraging Plan and Financial Flexibility: Amentum's strategy to reduce its debt is contingent upon consistent EBITDA growth and prudent capital allocation. The company also faces potential near-term cash flow pressures, which could affect its financial flexibility and deleveraging efforts.
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Amentum (AMTM) operates within several significant addressable markets, primarily focused on government and commercial services in advanced engineering, technology solutions, nuclear and environmental remediation, and defense.
Here are the addressable market sizes for Amentum's main products and services:
- Engineering Services (Advanced Engineering and Innovative Technology Solutions):
- The global engineering services market was valued at approximately USD 2.34 trillion in 2025 and is projected to grow to USD 5.37 trillion by 2034, with a compound annual growth rate (CAGR) of 10.60% from 2026 to 2034. Other estimates place the global market size at USD 3.66 trillion in 2025, expected to reach around USD 5.74 trillion by 2035.
- For North America, the engineering services market is expected to reach approximately USD 1.36 trillion by 2035, growing from USD 0.86 trillion in 2025. The U.S. market specifically is estimated at USD 0.45 trillion in 2026.
- Nuclear Services and Solutions:
- The global nuclear plant services market was over USD 74.38 billion in 2025 and is poised to exceed USD 122.32 billion by 2035.
- The global nuclear engineering service market is valued at USD 33.208 billion in 2025 and is projected to reach USD 64.115 billion by 2035, growing at a CAGR of 6.8%.
- Environmental Remediation and Solutions:
- The global environmental remediation market is projected to reach USD 210.56 billion in 2030 from USD 141.87 billion in 2025, growing at a CAGR of 8.2% during the forecast period.
- The U.S. environmental remediation market is expected to grow from USD 23.37 billion in 2025 to an estimated USD 38.53 billion by 2033, with a CAGR of 6.45%.
- The global environmental technology market is estimated to be valued at USD 714.74 billion in 2025 and is expected to reach USD 1,054.29 billion by 2032.
- Defense and Government Services:
- The global defense market reached approximately USD 473.47 billion in 2024 and is expected to grow to USD 682.10 billion in 2029. Another report estimates the global defense market at USD 566.137 billion in 2025, increasing to USD 874.003 billion by 2032.
- Global defense spending is expected to grow from USD 2.7 trillion in 2024 to USD 6.38 trillion by 2035.
- North America is estimated to hold a substantial share of the defense spending market, with the U.S. alone spending USD 997 billion in 2024.
- The mission systems segment, which includes areas like C5ISR systems engineering where Amentum operates, accounted for 37.71% or USD 178.55 billion of the total global defense market in 2024.
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Amentum (AMTM) is strategically positioned to capitalize on several key drivers for future revenue growth over the next two to three years:
- Expansion in the Global Nuclear Energy Market: Amentum anticipates increased revenue contributions from recently secured nuclear contracts, particularly in Europe and emerging U.S. projects. The company highlights strong secular demand drivers in the global nuclear market, including growing energy requirements for AI data centers, industrial applications, and national security priorities, projecting an 8% compound annual growth rate (CAGR) for this market between fiscal year 2026 and 2030. Amentum has secured significant nuclear energy contracts, such as a 10-year contract with EDF Nuclear Power and a partnership with Rolls-Royce on small modular reactors.
- Growth in Space Systems and Technologies: Amentum is actively expanding its portfolio in space systems, which is identified as an "accelerating growth market." This includes winning contracts for satellite integration, missile defense, and providing support for U.S. and allied national security programs. Notable wins include a $4 billion United States Space Force single-award IDIQ contract over ten years.
- Development of Critical Digital Infrastructure and AI-Driven Opportunities: The company views critical digital infrastructure as another "accelerating growth market." Its Digital Solutions segment has shown strong growth, driven by new contract awards in this area, including the commercial digital infrastructure market. Amentum expects to benefit from substantial investments in AI data centers, which are accelerating opportunities within this sector.
- Conversion of Robust Backlog into Revenue: Amentum maintains a substantial backlog, reported at over $47 billion, which provides significant visibility for future revenue. The company has consistently achieved a book-to-bill ratio at or above 1x for multiple consecutive quarters, indicating a healthy pipeline of new business awards. The conversion of these large contract wins, particularly in nuclear and space-related areas, into recognized revenue is a critical driver for top-line growth.
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Share Issuance
- Amentum Holdings, Inc. had 243,302,173 shares issued and outstanding as of September 27, 2024.
- As of November 14, 2025, there were 243,597,992 shares of Amentum Holdings, Inc. common stock outstanding.
- A secondary public offering of 19,464,174 shares was priced on March 12, 2025; Amentum itself did not sell any shares or receive proceeds from this offering.
Outbound Investments
- During Q3 FY25, Amentum utilized $360 million in gross proceeds from the divestiture of its Rapid Solutions business to pay down debt.
- Net contributions to equity method investments totaled $27 million in Q1 FY2026.
Capital Expenditures
- Capital expenditures were $11 million in 2023, $12 million in 2024, and $18 million in 2025.
- For Q1 FY2026 (ended January 2, 2026), capital expenditures amounted to $6 million.
Peer Outperformance in Diversified Support Services
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 30 | -6.8% | 105.0% | 140.2% | STRL 1461% · FIX 1308% · AGX 714% |
| Marine Transportation | 5 | 55.1% | 53.2% | 134.3% | MATX 189% · KEX 134% |
| Construction Machinery & Heavy Transportation Equipment | 13 | -4.4% | 55.3% | 92.6% | CAT 271% · ALSN 231% · WAB 203% |
| Aerospace & Defense | 52 | -14.4% | 56.1% | 58.8% | ATI 882% · FTAI 704% · HWM 519% |
| Trading Companies & Distributors | 19 | 11.3% | 33.9% | 50.6% | DXPE 378% · AIT 230% · URI 210% |
| Diversified Support Services ← | 34 | 8.5% | 39.6% | 37.5% | CXW 234% · OPLN 153% · CACI 122% |
| Industrial Machinery & Supplies & Components | 72 | 3.1% | 51.3% | 36.9% | CRS 842% · MLI 371% · SYM 297% |
| Rail Transportation | 7 | 31.2% | 56.7% | 27.9% | CSX 53% · UNP 38% · NSC 28% |
| Building Products | 33 | -10.7% | 12.1% | 22.7% | GFF 344% · TT 162% · JCI 115% |
| Cargo Ground Transportation | 16 | 35.3% | 10.4% | 15.9% | XPO 252% · R 243% · ARCB 47% |
| Electrical Components & Equipment | 37 | -12.6% | 71.0% | 3.2% | POWL 1789% · BE 857% · VRT 711% |
| Industrial Conglomerates | 17 | 7.3% | 6.4% | -6.8% | CSW 121% · DD 74% · CSL 60% |
| Research & Consulting Services | 13 | 2.3% | -13.9% | -8.2% | HURN 295% · FCN 10% · BAH 4% |
| Agricultural & Farm Machinery | 16 | 1.0% | -6.3% | -12.8% | DE 102% · TTC 15% · AGCO -6% |
| Data Processing & Outsourced Services | 6 | -22.9% | 0.4% | -16.2% | EXLS 70% · BR 9% · G -14% |
| Security & Alarm Services | 9 | -48.6% | 15.4% | -20.8% | BCO 99% |
| Office Services & Supplies | 9 | 17.9% | 18.6% | -23.9% | PBI 198% · TILE 147% · HNI 41% |
| Environmental & Facilities Services | 29 | -32.0% | 33.2% | -33.5% | GEO 237% · CLH 178% · RSG 92% |
| Passenger Airlines | 11 | -1.4% | 17.5% | -36.1% | LTM 3065% · UAL 110% · DAL 101% |
| Passenger Ground Transportation | 3 | -29.5% | 50.9% | -36.5% | UBER 47% · CAR -36% · LYFT -65% |
| Air Freight & Logistics | 12 | -25.9% | -19.6% | -40.1% | FDX 77% · EXPD 69% · CHRW 59% |
| Human Resource & Employment Services | 22 | 20.2% | -8.9% | -41.0% | ADP 56% · PAYX 11% · FA 10% |
| Airport Services | 4 | -69.6% | -69.4% | -83.6% | JOBY -47% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Amentum Stock Pre-Market (-13%) : FY2026 Guidance Disappoints | 02/10/2026 | |
| Amentum Earnings Notes | 12/29/2026 | |
| null | 10/17/2025 | |
| AMTM Dip Buy Analysis | 07/10/2025 | |
| Amentum (AMTM) Valuation Ratios Comparison | 05/15/2025 | |
| Amentum (AMTM) Revenue Comparison | 02/13/2025 | |
| ARTICLES | ||
| 18 Stocks Just Touched 52-Week Lows | 08/25/2026 | |
| Small Cap Stocks Trading At 52-Week High | 01/16/2026 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 106.99 |
| Mkt Cap | 7.8 |
| Rev LTM | 10,424 |
| Op Inc LTM | 774 |
| FCF LTM | 697 |
| FCF 3Y Avg | 537 |
| CFO LTM | 768 |
| CFO 3Y Avg | 594 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.3% |
| Rev Chg 3Y Avg | 5.9% |
| Rev Chg Q | 2.9% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | 4.5% |
| Op Inc Chg 3Y Avg | 18.7% |
| Op Mgn LTM | 8.8% |
| Op Mgn 3Y Avg | 8.3% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 9.0% |
| CFO/Rev 3Y Avg | 7.6% |
| FCF/Rev LTM | 8.2% |
| FCF/Rev 3Y Avg | 6.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Engineering Solutions (GES) | 8,850 | 6,407 | 5,966 | ||
| Digital Solutions (DS) | 5,543 | 1,981 | 1,899 | ||
| Affiliate revenue | 7 | 12 | |||
| Critical Mission Solutions | 4,392 | 4,264 | |||
| Cyber & Intelligence | 784 | 816 | |||
| Total | 14,393 | 8,388 | 7,865 | 5,183 | 5,092 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Engineering Solutions (GES) | 667 | 459 | 437 | ||
| Digital Solutions (DS) | 437 | 159 | 159 | ||
| Utilization of fair market value adjustments | 8 | 5 | 21 | ||
| Non-controlling interests | -7 | -1 | -7 | ||
| Stock-based compensation | -21 | -18 | -3 | ||
| Depreciation expense | -40 | -23 | -27 | ||
| Acquisition, transaction and integration costs | -85 | -62 | -39 | ||
| Amortization of intangibles | -479 | -228 | -298 | ||
| Critical Mission Solutions | 356 | 360 | |||
| Cyber & Intelligence | 49 | 79 | |||
| Other Expenses | -118 | -104 | |||
| Total | 480 | 291 | 243 | 287 | 335 |
Price Behavior
| Market Price | $21.76 | |
| Market Cap ($ Bil) | 5.3 | |
| First Trading Date | 09/30/2024 | |
| Distance from 52W High | -42.0% | |
| 50 Days | 200 Days | |
| DMA Price | $19.71 | $24.78 |
| DMA Trend | down | down |
| Distance from DMA | 10.4% | -12.2% |
| 3M | 1YR | |
| Volatility | 44.8% | 47.0% |
| Downside Capture | 217.80 | 179.57 |
| Upside Capture | 167.70 | 149.54 |
| Correlation (S&P 500) | 31.8% | 30.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.82 | 1.77 | 1.66 | 1.05 | 1.20 | -0.06 |
| Up Beta | 2.49 | 1.50 | 0.68 | 0.57 | 0.57 | 0.33 |
| Down Beta | -1.56 | -1.60 | 1.09 | 0.76 | 0.64 | -0.06 |
| Up Capture | 37% | 148% | 183% | 63% | 159% | 82% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 18 | 31 | 59 | 116 | 234 |
| Down Capture | 203% | 334% | 240% | 188% | 147% | 108% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 23 | 32 | 66 | 133 | 261 |
[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 AMTM | |
|---|---|---|---|---|
| AMTM | -2.6% | 47.0% | 0.08 | - |
| Sector ETF (XLI) | 8.7% | 17.2% | 0.31 | 33.4% |
| Equity (SPY) | 14.8% | 12.7% | 0.80 | 30.0% |
| Gold (GLD) | -2.8% | 28.5% | -0.11 | 16.1% |
| Commodities (DBC) | 52.1% | 20.7% | 1.91 | -0.9% |
| Real Estate (VNQ) | 4.3% | 13.9% | 0.06 | 17.0% |
| Bitcoin (BTCUSD) | -24.8% | 43.5% | -0.54 | 13.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AMTM | |
|---|---|---|---|---|
| AMTM | -7.5% | 52.9% | -0.18 | - |
| Sector ETF (XLI) | 11.5% | 17.6% | 0.49 | 40.3% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 38.1% |
| Gold (GLD) | 17.3% | 18.9% | 0.73 | 10.7% |
| Commodities (DBC) | 9.5% | 19.5% | 0.37 | 3.4% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 27.0% |
| Bitcoin (BTCUSD) | 5.7% | 51.7% | 0.29 | 18.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AMTM | |
|---|---|---|---|---|
| AMTM | -3.8% | 52.9% | -0.18 | - |
| Sector ETF (XLI) | 13.0% | 20.1% | 0.57 | 40.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 38.1% |
| Gold (GLD) | 11.8% | 16.4% | 0.59 | 10.7% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 3.4% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 27.0% |
| Bitcoin (BTCUSD) | 62.4% | 66.2% | 1.02 | 18.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -8.2% | -16.4% | -21.0% |
| 5/11/2026 | 1.5% | -2.7% | -8.1% |
| 2/9/2026 | -12.4% | -17.9% | -23.5% |
| 11/24/2025 | 18.2% | 12.6% | 15.1% |
| 8/5/2025 | 1.7% | 1.3% | -4.5% |
| 5/6/2025 | -4.5% | -4.3% | -1.3% |
| 2/4/2025 | 10.6% | 1.1% | -10.6% |
| SUMMARY STATS | |||
| # Positive | 4 | 3 | 1 |
| # Negative | 3 | 4 | 6 |
| Median Positive | 6.2% | 1.3% | 15.1% |
| Median Negative | -8.2% | -10.4% | -9.3% |
| Max Positive | 18.2% | 12.6% | 15.1% |
| Max Negative | -12.4% | -17.9% | -23.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -8.2% | -16.4% | -21.0% |
| 5/11/2026 | 1.5% | -2.7% | -8.1% |
| 2/9/2026 | -12.4% | -17.9% | -23.5% |
| 11/24/2025 | 18.2% | 12.6% | 15.1% |
| 8/5/2025 | 1.7% | 1.3% | -4.5% |
| 5/6/2025 | -4.5% | -4.3% | -1.3% |
| 2/4/2025 | 10.6% | 1.1% | -10.6% |
| SUMMARY STATS | |||
| # Positive | 4 | 3 | 1 |
| # Negative | 3 | 4 | 6 |
| Median Positive | 6.2% | 1.3% | 15.1% |
| Median Negative | -8.2% | -10.4% | -9.3% |
| Max Positive | 18.2% | 12.6% | 15.1% |
| Max Negative | -12.4% | -17.9% | -23.5% |
Recent Forward Guidance
Updated 10/4/2026Latest: Q3 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenues | Reported | 13.80 Bil | 13.88 Bil | 13.95 Bil | -1.8% | Lowered | Guidance: 14.12 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.11 Bil | 1.13 Bil | 1.14 Bil | 0.7% | Raised | Guidance: 1.12 Bil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 2.4 | 2.45 | 2.5 | 4.3% | Raised | Guidance: 2.35 for 2026 | |
| 2026 Free Cash Flow | Reported | 525.00 Mil | 550.00 Mil | 575.00 Mil | 0 | Affirmed | Guidance: 550.00 Mil for 2026 | |
Prior: Q2 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 13.95 Bil | 14.12 Bil | 14.30 Bil | 0 | Affirmed | Guidance: 14.12 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.10 Bil | 1.12 Bil | 1.14 Bil | 0 | Affirmed | Guidance: 1.12 Bil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 2.25 | 2.35 | 2.45 | 0 | Affirmed | Guidance: 2.35 for 2026 | |
| 2026 Free Cash Flow | Reported | 525.00 Mil | 550.00 Mil | 575.00 Mil | 0 | Affirmed | Guidance: 550.00 Mil for 2026 | |
Q1 2026 Earnings Reported 2/9/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 13.95 Bil | 14.12 Bil | 14.30 Bil | 0 | Affirmed | Guidance: 14.12 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.10 Bil | 1.12 Bil | 1.14 Bil | 0 | Affirmed | Guidance: 1.12 Bil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 2.25 | 2.35 | 2.45 | 0 | Affirmed | Guidance: 2.35 for 2026 | |
| 2026 Free Cash Flow | Reported | 525.00 Mil | 550.00 Mil | 575.00 Mil | 0 | Affirmed | Guidance: 550.00 Mil for 2026 | |
Q4 2025 Earnings Reported 11/24/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 13.95 Bil | 14.12 Bil | 14.30 Bil | 0.4% | Higher New | Guidance: 14.07 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 1.10 Bil | 1.12 Bil | 1.14 Bil | 3.7% | Higher New | Guidance: 1.08 Bil for 2025 | |
| 2026 Adjusted Diluted EPS | Reported | 2.25 | 2.35 | 2.45 | 10.6% | Higher New | Guidance: 2.13 for 2025 | |
| 2026 Free Cash Flow | Reported | 525.00 Mil | 550.00 Mil | 575.00 Mil | 10.0% | Higher New | Guidance: 500.00 Mil for 2025 | |
Investor Activity (13F)
Updated Oct 24, 2026Active 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.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Arvin Capital Management LP | $54.0 Mil | 12.6% | 23 | ADD +26.6% | 13F |
| Brightline Capital Management, LLC | $36.4 Mil | 10.8% | 9 | Hold | 13F |
| Permian Investment Partners, LP | $40.9 Mil | 4.5% | 13 | New | 13F |
| Troluce Capital Advisors LLC | $26.1 Mil | 2.8% | 46 | New | 13F |
| Rovida Investment Management Ltd | $8.2 Mil | 1.0% | 17 | New | 13F |
| Ruane, Cunniff & Goldfarb L.P. | $42.3 Mil | 0.7% | 50 | TRIM -32.2% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Arvin Capital Management LP | $54.0 Mil | 12.6% | 23 | ADD +26.6% | 13F |
| Ruane, Cunniff & Goldfarb L.P. | $42.3 Mil | 0.7% | 50 | TRIM -32.2% | 13F |
| Permian Investment Partners, LP | $40.9 Mil | 4.5% | 13 | New | 13F |
| Brightline Capital Management, LLC | $36.4 Mil | 10.8% | 9 | Hold | 13F |
| Troluce Capital Advisors LLC | $26.1 Mil | 2.8% | 46 | New | 13F |
| Rovida Investment Management Ltd | $8.2 Mil | 1.0% | 17 | New | 13F |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Diversified Support Services Resources |
| Facilities Management Journal (FMJ) |
| Supply Chain Brain |
| Corporate Services News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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