Jacobs Solutions (J)


Market Price (10/27/2026): $147.36 | Market Cap: $17.2 BilSector: Industrials | Industry: Construction & Engineering

Jacobs Solutions (J)


Market Price (10/27/2026): $147.36
Market Cap: $17.2 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20%

Stock buyback support
Stock Buyback 3Y Total is 1.8 Bil

Low stock price volatility
Vol 12M is 33%

Megatrend and thematic drivers
Megatrends include Water Infrastructure, Renewable Energy Transition, and Hydrogen Economy. Themes include Water Treatment & Delivery, Show more.

Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -40%

Key risks
J key risks include [1] potential cost overruns on its significant portfolio of fixed-price contracts and [2] project pipeline vulnerability stemming from its high exposure to governmental budgetary constraints and shifting priorities.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20%
1 Stock buyback support
Stock Buyback 3Y Total is 1.8 Bil
2 Low stock price volatility
Vol 12M is 33%
3 Megatrend and thematic drivers
Megatrends include Water Infrastructure, Renewable Energy Transition, and Hydrogen Economy. Themes include Water Treatment & Delivery, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -40%
5 Key risks
J key risks include [1] potential cost overruns on its significant portfolio of fixed-price contracts and [2] project pipeline vulnerability stemming from its high exposure to governmental budgetary constraints and shifting priorities.

J in ETFs

Weight = J's share of each fund

SPY0.02%
VOO0.02%
IVV0.03%
VTI0.02%
ITOT0.02%
IWB0.02%
RSP0.20%
VB0.20%
+23 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/22/2026

Jacobs Solutions (J) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Financial Performance and Raised Full-Year Guidance. Jacobs Solutions reported robust fiscal third-quarter 2026 results (ended June 26, 2026) on August 4, 2026, with adjusted earnings per share (EPS) of $1.84, surpassing analysts' consensus estimates of $1.83. Adjusted net revenue for the quarter increased by 8.3% year-over-year to $2.42 billion, exceeding the consensus estimate of $2.40 billion. Following these strong results, management raised its fiscal year 2026 guidance for adjusted net revenue growth to 9.5%-10.0% (from a prior forecast of 8.0%-10.5%) and adjusted EPS to a range of $7.20-$7.30 (from $7.10-$7.35). This marked the third consecutive quarter of raised guidance.

2. Record Backlog and Robust Organic Growth Driven by Key Sectors. The company achieved a record backlog of $28.9 billion as of the end of fiscal Q3 2026, representing a 27.3% increase year-over-year. This strong backlog provides significant revenue visibility. The Infrastructure & Advanced Facilities (I&AF) segment demonstrated particularly strong performance with gross revenue increasing 39% year-on-year and adjusted net revenue growing 10% organically. Growth within I&AF was broad-based, with significant contributions from the Data Center, Semiconductor, Energy & Power, Transportation, and Water sectors, supported by accelerating private sector and utility capital spending, particularly in the AI ecosystem and data center infrastructure.

Show more
Updated on 10/22/2026

Jacobs Solutions (J) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Financial Performance and Raised Full-Year Guidance. Jacobs Solutions reported robust fiscal third-quarter 2026 results (ended June 26, 2026) on August 4, 2026, with adjusted earnings per share (EPS) of $1.84, surpassing analysts' consensus estimates of $1.83. Adjusted net revenue for the quarter increased by 8.3% year-over-year to $2.42 billion, exceeding the consensus estimate of $2.40 billion. Following these strong results, management raised its fiscal year 2026 guidance for adjusted net revenue growth to 9.5%-10.0% (from a prior forecast of 8.0%-10.5%) and adjusted EPS to a range of $7.20-$7.30 (from $7.10-$7.35). This marked the third consecutive quarter of raised guidance.

2. Record Backlog and Robust Organic Growth Driven by Key Sectors. The company achieved a record backlog of $28.9 billion as of the end of fiscal Q3 2026, representing a 27.3% increase year-over-year. This strong backlog provides significant revenue visibility. The Infrastructure & Advanced Facilities (I&AF) segment demonstrated particularly strong performance with gross revenue increasing 39% year-on-year and adjusted net revenue growing 10% organically. Growth within I&AF was broad-based, with significant contributions from the Data Center, Semiconductor, Energy & Power, Transportation, and Water sectors, supported by accelerating private sector and utility capital spending, particularly in the AI ecosystem and data center infrastructure.

3. Positive Analyst Sentiment and Upward Price Target Revisions. Analyst sentiment remained largely positive, with a consensus "Buy" rating from a majority of analysts covering the stock. As of October 9, 2026, the average price target stood at $162.47, indicating a 14.42% upside from the stock's price at that time. Analysts highlighted Jacobs' strategic shift towards a focused engineering and consulting platform and its diversified market exposure, noting secular tailwinds such as its approximately 10% exposure to the AI ecosystem, a 100% year-over-year increase in data center revenue, and a 400% year-over-year increase in its AI infrastructure pipeline.

4. Strategic Share Repurchases and Shareholder Returns. Jacobs Solutions continued to actively return capital to shareholders through share repurchases. In fiscal Q3 2026, the company repurchased $142 million of its shares, bringing the year-to-date total for fiscal 2026 to $614 million. This commitment to shareholder returns, with a target to return over 60% of free cash flow, enhanced investor confidence and contributed to the stock's upward trend.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 17.1% change in J stock from 6/30/2026 to 10/26/2026 was primarily driven by a 32.5% change in the company's P/E Multiple.
(LTM values as of)630202610262026Change
Stock Price ($)125.69147.1417.1%
Change Contribution By: 
Total Revenues ($ Mil)13,17514,2197.9%
Net Income Margin (%)2.9%2.4%-17.8%
P/E Multiple38.651.232.5%
Shares Outstanding (Mil)117118-0.4%
Cumulative Contribution17.1%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/26/2026
ReturnCorrelation
J17.1% 
Market (SPY)2.5%19.9%
Sector (XLI)-9.9%40.7%

Fundamental Drivers

The 16.3% change in J stock from 3/31/2026 to 10/26/2026 was primarily driven by a 47.7% change in the company's P/E Multiple.
(LTM values as of)331202610262026Change
Stock Price ($)126.57147.1416.3%
Change Contribution By: 
Total Revenues ($ Mil)12,39014,21914.8%
Net Income Margin (%)3.5%2.4%-31.9%
P/E Multiple34.751.247.7%
Shares Outstanding (Mil)1191180.7%
Cumulative Contribution16.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/26/2026
ReturnCorrelation
J16.3% 
Market (SPY)18.0%15.4%
Sector (XLI)3.5%30.8%

Fundamental Drivers

The -0.8% change in J stock from 9/30/2025 to 10/26/2026 was primarily driven by a -42.8% change in the company's Net Income Margin (%).
(LTM values as of)930202510262026Change
Stock Price ($)148.28147.14-0.8%
Change Contribution By: 
Total Revenues ($ Mil)11,83514,21920.1%
Net Income Margin (%)4.2%2.4%-42.8%
P/E Multiple36.251.241.6%
Shares Outstanding (Mil)1201182.0%
Cumulative Contribution-0.8%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/26/2026
ReturnCorrelation
J-0.8% 
Market (SPY)15.8%32.4%
Sector (XLI)9.2%39.9%

Fundamental Drivers

The 34.7% change in J stock from 9/30/2023 to 10/26/2026 was primarily driven by a 174.5% change in the company's P/E Multiple.
(LTM values as of)930202310262026Change
Stock Price ($)109.22147.1434.7%
Change Contribution By: 
Total Revenues ($ Mil)10,80514,21931.6%
Net Income Margin (%)6.9%2.4%-65.3%
P/E Multiple18.751.2174.5%
Shares Outstanding (Mil)1271187.6%
Cumulative Contribution34.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/26/2026
ReturnCorrelation
J34.7% 
Market (SPY)85.2%47.0%
Sector (XLI)71.3%56.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
J Return29%-13%9%25%1%10%70%
Peers Return44%25%23%28%-12%-3%142%
S&P 500 Return27%-19%24%23%16%11%103%

Monthly Win Rates [3]
J Win Rate58%50%50%75%67%70% 
Peers Win Rate60%60%63%63%50%48% 
S&P 500 Win Rate75%42%67%75%67%40% 

Max Drawdowns [4]
J Max Drawdown-12%-26%-14%-13%-22%-29% 
Peers Max Drawdown-23%-22%-22%-18%-37%-35% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACM, FLR, KBR, PSN, PWR. See J 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 10/26/2026 (YTD)

How Low Can It Go

EventJS&P 500
2025 US Tariff Shock
  % Loss-14.8%-18.8%
  % Gain to Breakeven17.4%23.1%
  Time to Breakeven38 days79 days
2023 SVB Regional Banking Crisis
  % Loss-10.3%-6.7%
  % Gain to Breakeven11.4%7.1%
  Time to Breakeven40 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-21.7%-24.5%
  % Gain to Breakeven27.7%32.4%
  Time to Breakeven374 days427 days
2020 COVID-19 Crash
  % Loss-37.9%-33.7%
  % Gain to Breakeven61.0%50.9%
  Time to Breakeven203 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.8%-19.2%
  % Gain to Breakeven40.5%23.8%
  Time to Breakeven119 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-20.2%-12.2%
  % Gain to Breakeven25.3%13.9%
  Time to Breakeven36 days62 days

Compare to ACM, FLR, KBR, PSN, PWR

In The Past

Jacobs Solutions's stock fell -14.8% during the 2025 US Tariff Shock. Such a loss loss requires a 17.4% 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.

EventJS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-21.7%-24.5%
  % Gain to Breakeven27.7%32.4%
  Time to Breakeven374 days427 days
2020 COVID-19 Crash
  % Loss-37.9%-33.7%
  % Gain to Breakeven61.0%50.9%
  Time to Breakeven203 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.8%-19.2%
  % Gain to Breakeven40.5%23.8%
  Time to Breakeven119 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-20.2%-12.2%
  % Gain to Breakeven25.3%13.9%
  Time to Breakeven36 days62 days
2014-2016 Oil Price Collapse
  % Loss-35.0%-6.8%
  % Gain to Breakeven53.8%7.3%
  Time to Breakeven167 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-26.3%-17.9%
  % Gain to Breakeven35.7%21.8%
  Time to Breakeven101 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-27.2%-15.4%
  % Gain to Breakeven37.4%18.2%
  Time to Breakeven194 days125 days
2008-2009 Global Financial Crisis
  % Loss-73.1%-53.4%
  % Gain to Breakeven272.1%114.4%
  Time to Breakeven3998 days1085 days

Compare to ACM, FLR, KBR, PSN, PWR

In The Past

Jacobs Solutions's stock fell -14.8% during the 2025 US Tariff Shock. Such a loss loss requires a 17.4% 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 Jacobs Solutions (J)

Jacobs Solutions Inc. (J) is a global professional services company providing extensive consulting, technical, scientific, and project delivery services. The company operates through two primary segments: Critical Mission Solutions (CMS) and People & Places Solutions (P&PS). This structure allows Jacobs to address diverse client needs across specialized and broad-scale projects worldwide.

The Critical Mission Solutions segment focuses on highly technical areas such as cybersecurity, data analytics, IT systems integration, engineering and design, nuclear services, and enterprise-level operations and maintenance. Meanwhile, the People & Places Solutions segment delivers digitally driven consulting, artificial intelligence and automation, software development, planning, architecture, and program management, including design-build projects for water infrastructure and wind tunnels. Jacobs Solutions serves a broad base of government and private sector clients across the United States, Europe, Canada, India, Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa.

AI Analysis | Feedback

```html

Here are 1-3 brief analogies for Jacobs Solutions:

  • Like AECOM for advanced tech and government critical missions.
  • Booz Allen Hamilton for global engineering and infrastructure projects.
  • The Accenture for developing and managing physical infrastructure and critical government systems.
```

AI Analysis | Feedback

  • Cybersecurity Services: Providing solutions to protect digital systems and data from cyber threats.
  • Data Analytics Services: Extracting insights and supporting decision-making through the analysis of complex datasets.
  • IT Systems & Software Solutions: Delivering services for enterprise IT, mission-specific systems, software application integration, and development.
  • Engineering & Architectural Design: Offering expert engineering, planning, and architectural services for diverse projects, including nuclear facilities.
  • Artificial Intelligence & Automation: Developing and implementing AI technologies and automated systems for enhanced operational efficiency.
  • Program & Construction Management: Overseeing the planning, execution, and delivery of complex programs and construction projects.
  • Operations & Maintenance Consulting: Providing expertise for managing and maintaining critical enterprise-level infrastructure and systems.
  • Specialized Design-Build Projects: Managing the integrated design and construction of specialized facilities like wind tunnels and water infrastructure.

AI Analysis | Feedback

Jacobs Solutions (J) primarily serves customers in two major sectors:

  • Government Sector: This includes various federal, state, local, and international government agencies and entities. Given the nature of Jacobs' services, such as critical mission solutions, cybersecurity, nuclear services, and infrastructure project delivery, a significant portion of their clientele comes from government contracts and initiatives globally.
  • Private Sector: Jacobs Solutions provides its consulting, technical, scientific, and project delivery services to a wide array of companies within the private sector. However, the provided background information does not specify the names of individual major customer companies, nor their public symbols. Their private sector customers are typically large corporations across diverse industries that require complex engineering, technology, consulting, and project management expertise, such as those in infrastructure development, water management, energy, manufacturing, technology, and advanced facilities.

AI Analysis | Feedback

null

AI Analysis | Feedback

Bob Pragada, Chair and Chief Executive Officer

Appointed CEO in January 2023, Bob Pragada brings over 30 years of global business leadership and military experience to Jacobs, including 17 years with the company and nine years as a Civil Engineer Corps and Seabees Officer with the U.S. Navy. He served as the Facilities Director at Camp David during the Clinton administration. Prior to his CEO role, he was President and Chief Operating Officer of Jacobs since 2019. He led the successful integration of CH2M following its acquisition by Jacobs in 2017 and was instrumental in Jacobs' strategic majority investment in PA Consulting, where he also serves as a Board member. Before rejoining Jacobs in 2016, he served as President and CEO of The Brock Group, a privately held industrial specialty services company. Earlier in his career, he was Chief Operating Officer at Kinetics, a global provider of process solutions to the semiconductor and pharma-bio manufacturing industry. He also serves on the Brightstar Capital Partners Advisory Council.

Venk Nathamuni, Executive Vice President and Chief Financial Officer

Venk Nathamuni was appointed Chief Financial Officer of Jacobs, effective June 3, 2024. He has over 30 years of experience in executive-level finance and strategic leadership roles. Before joining Jacobs, Nathamuni served as the CFO at Cirrus Logic, a global semiconductor company, where he played a key role in driving financial performance and strategic initiatives. His professional background also includes influential positions at J.P. Morgan, Synopsys, Synplicity, QuickLogic, Arista Networks, and Maxim Integrated Products, Inc.

Joanne Caruso, Executive Vice President, Chief Legal & Administrative Officer

Joanne Caruso serves as the Executive Vice President, Chief Legal and Administrative Officer at Jacobs, leading global functions including legal, compliance, human resources, and sustainability. She was the first woman at Jacobs to become an Executive Vice President. Prior to this role, she held positions including Senior Vice President, Chief Administrative Officer, and Senior Vice President of Global Human Resources at Jacobs. Her legal career includes partnership roles at Baker & Hostetler LLP and Howrey LLP, specializing in antitrust and complex commercial litigation.

Patrick Hill, President, Global Operations

Patrick Hill is the President of Global Operations at Jacobs, leading a team of over 40,000 professionals worldwide in delivering critical infrastructure solutions. His career at Jacobs spans more than 25 years, covering various senior leadership positions and multiple sectors and operations across the globe. Previously, he co-led Jacobs' People & Places Solutions global business with a focus on Europe, the Middle East, Africa, Asia, Australia, and New Zealand, and global functions of Growth, Strategy & Solutions and Global Design Centers. He joined Jacobs in 2014 as the group vice president of telecommunications. He also serves as a Board member of Jacobs' JASARA joint venture.

Shannon Miller, Executive Vice President and President, Strategy, Growth & Digital

Shannon Miller serves as the Executive Vice President and President, Strategy, Growth & Digital at Jacobs. In this role, she helps set the company's strategic direction and focuses on elevating transformative data solutions. During her nearly 25-year career at Jacobs, she has held various roles in operations, sales, and human resources leadership across multiple industries including technology, resources, infrastructure, pharmaceutical, and consumer products, with assignments in the U.S., Europe, Australia, and Canada. She was previously Executive Vice President and President of Divergent Solutions, a unit focused on cyber, intelligence, data, and technology. She also served as Jacobs' Chief Growth Officer and lead for Enterprise Risk Management.

AI Analysis | Feedback

The key risks to Jacobs Solutions' business are intense market competition, reliance on government contracts and associated geopolitical and budgetary risks, and the imperative for continuous technological innovation.

  1. Intense Market Competition and Pricing Pressure: Jacobs Solutions operates within highly competitive professional services and engineering sectors. The company faces significant rivalry from large global firms, leading to constant pricing pressure and an ongoing risk of talent poaching. Jacobs must continuously adapt its offerings to secure new projects and maintain its competitive edge.
  2. Reliance on Government Contracts and Geopolitical/Budgetary Risks: A substantial portion of Jacobs Solutions' revenue is derived from contracts with U.S. and U.K. government agencies. This reliance exposes the company to risks associated with shifting political priorities, budgetary constraints, and changes in procurement policies. Furthermore, its global operations make it vulnerable to broader geopolitical uncertainties.
  3. Technological Disruption and the Need for Continuous Innovation: The rapid advancement of technologies, including artificial intelligence (AI) and the Internet of Things (IoT), necessitates continuous investment in innovation for Jacobs Solutions to remain competitive. Failure to keep pace with these technological disruptions and integrate new solutions could erode the company's competitive advantage.

AI Analysis | Feedback

null

AI Analysis | Feedback

```html

Jacobs Solutions operates in several large addressable markets globally:

  • The company identifies a global serviceable addressable market (SAM) of approximately $390 billion for its Critical Infrastructure services.
  • For the Water and Environmental sector, Jacobs Solutions estimates a global SAM of $220 billion. Complementary to this, the global water and wastewater treatment market was valued at USD 372.39 billion in 2025 and is projected to reach USD 713.96 billion by 2034.
  • In Life Sciences and Advanced Manufacturing, Jacobs Solutions sees a global SAM of $120 billion.
  • The global IT services market, which includes many of Jacobs' technical consulting and data analytics offerings, was estimated at USD 1.65 trillion in 2025 and is projected to reach USD 3.30 trillion by 2033.
  • The broader global consulting services market was valued at approximately USD 318.89 billion in 2024 and is projected to reach USD 471.59 billion by 2034.
  • In nuclear services, the global nuclear plant services market was valued at over USD 74.38 billion in 2025 and is poised to exceed USD 122.32 billion by 2035.
  • The global construction market, encompassing much of Jacobs' engineering and project delivery, was estimated at USD 11,215.6 billion in 2024 and is projected to reach USD 18,588.1 billion by 2035. The global construction engineering services market alone was valued at US$ 569.6 billion in 2024.
  • Jacobs Solutions projects the addressable market for hydrogen, carbon capture, and renewable energy infrastructure to be $100 billion globally by 2030.
  • For services related to project management and program management, the global project management software market was estimated at USD 7,383.8 million in 2023 and is projected to reach USD 20,469.8 million by 2030. The global Project Portfolio Management Market was valued at $7.8 billion in 2024 and is anticipated to reach over $13.7 billion by the end of 2029.
```

AI Analysis | Feedback

Jacobs Solutions (NYSE: J) is expected to drive future revenue growth over the next 2-3 years through several key areas:

  1. Strong Backlog Growth: The company has reported a record and growing backlog, which provides significant visibility into future revenue. For example, Jacobs Solutions reported a consolidated backlog of $23.1 billion in Q4 fiscal year 2025 and $26.3 billion at the end of Q1 fiscal year 2026, with a trailing twelve-month book-to-bill ratio of 1.4x, indicating robust demand for its services.

  2. Expansion in High-Growth End Markets: Jacobs Solutions is strategically focused on rapidly expanding markets such as life sciences, data centers, semiconductors, water, advanced manufacturing, and transportation. Strong performance and increasing demand in these sectors are anticipated to fuel revenue expansion.

  3. Increased Demand for Digital Consulting and AI-driven Solutions: The company is capitalizing on the rising demand for digital consulting services and leveraging AI advisory, design tools, and digital twin capabilities to differentiate its offerings and enhance operational efficiencies. PA Consulting, a key segment, has shown strong growth in digital consulting services.

  4. Global Infrastructure Modernization and Sustainability Initiatives: Jacobs Solutions is well-positioned to benefit from global investment megatrends, including critical infrastructure modernization, water scarcity solutions, and sustainability initiatives such as climate change projects and energy transition efforts.

  5. Full Ownership of PA Consulting: The acquisition of the remaining stake in PA Consulting is a strategic move to unlock the full value of its asset lifecycle strategy. This allows Jacobs to further integrate and leverage PA Consulting's strong performance, particularly in digital consulting, contributing to overall revenue growth.

AI Analysis | Feedback

Share Repurchases

  • Jacobs Solutions repurchased $754.1 million in shares during fiscal year 2025.
  • In February 2025, Jacobs' Board of Directors approved a new share repurchase authorization of up to $1.5 billion, valid over a three-year period.
  • The company's previous 2023 Share Repurchase Program authorized up to $1.0 billion in common stock, with $271 million remaining under this authorization at the end of the fiscal first quarter of 2025.

Share Issuance

  • The common stock value on Jacobs Solutions' balance sheet decreased from $128.89 million in 2021 to $119.08 million in 2025, indicating net repurchases rather than significant common stock issuance during this period.
  • In connection with its PA Consulting investment, Jacobs Solutions issued certain shares of redeemable noncontrolling interests for $34.8 million in 2023 and $49.7 million in 2022.

Outbound Investments

  • On March 2, 2021, Jacobs completed a strategic investment, acquiring a 65% interest in PA Consulting, a U.K.-based innovation and transformation consulting firm, for a total consideration of $1.7 billion.
  • Jacobs funded the initial PA Consulting investment through a combination of cash on hand, proceeds from a new term loan, and draws on its existing Revolving Credit Facility.
  • In January 2026, Jacobs announced an agreement to acquire the remaining stake in PA Consulting for an upfront consideration of approximately £1.216 billion ($1.6 billion), with the transaction expected to close by the end of Jacobs' fiscal 2026 second quarter.

Capital Expenditures

  • Jacobs Solutions' capital expenditures averaged $111.7 million annually for the fiscal years ending October 2021 to 2025.
  • Capital expenditures reached a 5-year peak of $137.5 million in fiscal year 2023.
  • In fiscal year 2025, capital expenditures were $79.232 million, marking a 5-year low.

Better Bets vs. Jacobs Solutions (J)

Peer Outperformance in Construction & Engineering

J has trailed 72% of its 29 Construction & Engineering peers over 5Y. Among the peers that beat it are TPC, EME and IESC. Construction & Engineering ranks 2nd 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 J has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
50%
of 34 industry peers · -6.8% return
3Y
35%
of 31 industry peers · 40.0% return
5Y
28%
of 29 industry peers · 34.9% return
Construction & Engineering peers with revenue growth within 4pp of J'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 1Y3Y5Y 5Y Gap
J Jacobs Solutions 16.5% 51.2x -6.8%40.0%34.9% —
TPC Tutor Perini 16.5% 33.3x 14.4%1025.2%474.5% +440pp
EME EMCOR 16.7% 20.6x -10.8%226.6%463.0% +428pp
IESC IES 19.4% 19.0x -50.4%254.8%333.4% +298pp
GVA Granite Construction 15.3% -28.8x 4.1%222.2%179.8% +145pp
DY Dycom Industries 20.0% 20.9x -21.7%169.9%172.5% +138pp
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 J's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Marine Transportation 5 55.0%56.4%141.5% MATX 185% · KEX 141%
Construction & Engineering ← 30 -6.8%117.6%138.0% STRL 1419% · FIX 1385% · AGX 722%
Construction Machinery & Heavy Transportation Equipment 13 -2.9%61.7%89.4% CAT 273% · ALSN 245% · WAB 212%
Aerospace & Defense 52 -16.4%61.3%56.5% ATI 988% · FTAI 713% · HWM 558%
Trading Companies & Distributors 19 9.7%41.8%53.6% DXPE 399% · AIT 234% · URI 226%
Diversified Support Services 33 12.8%42.1%41.7% CXW 253% · OPLN 147% · CACI 136%
Industrial Machinery & Supplies & Components 72 3.2%56.0%38.1% CRS 885% · MLI 345% · SYM 280%
Rail Transportation 7 29.2%64.2%29.4% CSX 54% · UNP 38% · NSC 29%
Building Products 32 -9.3%20.0%22.5% GFF 355% · TT 169% · JCI 123%
Cargo Ground Transportation 16 34.2%8.9%15.5% R 249% · XPO 247% · ARCB 45%
Electrical Components & Equipment 37 -13.4%75.1%4.3% POWL 1867% · VRT 735% · BE 618%
Industrial Conglomerates 17 8.7%5.9%-4.0% CSW 122% · DD 74% · CSL 59%
Agricultural & Farm Machinery 16 -0.1%-6.5%-11.7% DE 101% · TTC 15% · AGCO -6%
Data Processing & Outsourced Services 6 -23.2%2.8%-16.3% EXLS 68% · BR 8% · G -14%
Security & Alarm Services 9 -54.6%22.8%-18.1% BCO 99%
Office Services & Supplies 9 17.2%17.5%-23.5% PBI 198% · TILE 142% · HNI 52%
Environmental & Facilities Services 29 -34.7%30.8%-24.5% GEO 259% · CLH 179% · RSG 97%
Research & Consulting Services 13 2.3%-16.0%-27.5% HURN 297% · BAH 11% · FCN 11%
Passenger Airlines 11 -3.2%20.5%-35.6% LTM 2926% · UAL 115% · DAL 107%
Passenger Ground Transportation 3 -29.7%60.4%-36.9% UBER 44% · CAR -37% · LYFT -64%
Air Freight & Logistics 11 -24.6%-6.3%-41.2% FDX 74% · EXPD 69% · CHRW 60%
Human Resource & Employment Services 22 18.7%-3.5%-41.4% ADP 54% · PAYX 12% · FA 11%
Airport Services 4 -55.8%-56.2%-83.9% JOBY -48%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

JACMFLRKBRPSNPWRMedian
NameJacobs S.AECOM Fluor KBR Parsons Quanta S. 
Mkt Price147.3660.9844.8740.0249.42576.9655.20
Mkt Cap17.47.86.25.05.386.77.0
Rev LTM14,21915,39315,5367,7236,29332,90514,806
Op Inc LTM650715-2975453342,014597
FCF LTM645203-3303553082,391332
FCF 3Y Avg671575833414261,765501
CFO LTM736365-2874093843,178397
CFO 3Y Avg7717011823934832,403592

Growth & Margins

JACMFLRKBRPSNPWRMedian
NameJacobs S.AECOM Fluor KBR Parsons Quanta S. 
Rev Chg LTM20.1%-4.2%-4.8%-3.6%-5.8%26.3%-3.9%
Rev Chg 3Y Avg16.5%3.6%1.2%5.1%10.6%21.5%7.8%
Rev Chg Q34.5%-14.2%8.8%1.6%-0.5%41.1%5.2%
QoQ Delta Rev Chg LTM7.9%-3.7%2.3%0.4%-0.1%9.2%1.4%
Op Inc Chg LTM-23.4%-29.7%-189.7%-5.9%-21.5%38.3%-22.5%
Op Inc Chg 3Y Avg18.1%0.7%357.1%5.1%17.8%29.8%17.9%
Op Mgn LTM4.6%4.6%-1.9%7.1%5.3%6.1%5.0%
Op Mgn 3Y Avg5.6%5.5%0.9%7.1%6.3%5.6%5.6%
QoQ Delta Op Mgn LTM0.0%-2.1%0.9%0.1%-1.0%0.5%0.1%
CFO/Rev LTM5.2%2.4%-1.8%5.3%6.1%9.7%5.2%
CFO/Rev 3Y Avg8.0%4.4%1.1%5.1%7.6%8.9%6.3%
FCF/Rev LTM4.5%1.3%-2.1%4.6%4.9%7.3%4.6%
FCF/Rev 3Y Avg7.0%3.6%0.5%4.4%6.7%6.5%5.5%

Valuation

JACMFLRKBRPSNPWRMedian
NameJacobs S.AECOM Fluor KBR Parsons Quanta S. 
Mkt Cap17.47.86.25.05.386.77.0
P/S1.20.50.40.70.82.60.7
P/Op Inc26.711.0-21.09.315.843.013.4
P/EBIT25.810.8-59.46.915.742.313.3
P/E51.327.2-3.111.933.665.330.4
P/CFO23.621.5-21.712.313.827.317.6
Total Yield2.9%5.6%-32.0%10.1%2.9%1.6%2.9%
Dividend Yield0.9%1.9%0.0%1.7%0.0%0.1%0.5%
FCF Yield 3Y Avg4.1%4.1%0.9%6.0%5.8%2.9%4.1%
D/E0.20.40.20.60.30.10.3
Net D/E0.20.3-0.30.50.30.10.2

Returns

JACMFLRKBRPSNPWRMedian
NameJacobs S.AECOM Fluor KBR Parsons Quanta S. 
1M Rtn6.5%0.7%-10.9%15.9%14.7%-11.1%3.6%
3M Rtn9.2%-13.6%-13.2%9.2%-16.9%-7.0%-10.1%
6M Rtn17.8%-24.9%-13.2%14.4%-4.0%-9.4%-6.7%
12M Rtn-6.7%-53.3%-8.3%-7.6%-41.3%31.0%-8.0%
3Y Rtn40.2%-15.5%34.8%-27.1%-11.0%251.1%11.9%
1M Excs Rtn8.0%2.2%-9.4%17.4%16.3%-9.5%5.1%
3M Excs Rtn2.4%-20.3%-11.7%4.9%-22.9%-4.6%-8.1%
6M Excs Rtn11.5%-31.2%-19.4%8.2%-10.2%-15.9%-13.0%
12M Excs Rtn-20.5%-66.4%-19.0%-21.4%-54.4%21.7%-20.9%
3Y Excs Rtn-39.7%-97.7%-51.1%-108.6%-92.0%163.1%-71.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Infrastructure & Advanced Facilities10,76410,3239,6938,664 
PA Consulting1,2661,1781,1581,119627
Critical Mission Solutions    4,252
Divergent Solutions    849
People & Places Solutions    8,365
Total12,03011,50110,8519,78314,093


Operating Income by Segment
$ Mil20252024202320222021
Infrastructure & Advanced Facilities904798734500 
PA Consulting278239237232151
Amortization of Intangible Assets-156-153-147  
Restructuring, Transaction and Other Charges-163-193-147 -350
Restructuring and Other Charges   -192 
Critical Mission Solutions    359
Divergent Solutions    88
Other Corporate Expenses    -340
People & Places Solutions    781
Total864692676540688


Price Behavior

Price Behavior
Market Price$147.14 
Market Cap ($ Bil)17.3 
First Trading Date01/12/1990 
Distance from 52W High-7.6% 
   50 Days200 Days
DMA Price$143.18$133.09
DMA Trendupindeterminate
Distance from DMA2.8%10.6%
 3M1YR
Volatility24.6%32.6%
Downside Capture72.8897.28
Upside Capture80.6271.87
Correlation (S&P 500)27.7%30.1%
J Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.920.990.580.430.870.83
Up Beta-1.080.82-0.390.070.370.73
Down Beta-1.140.380.610.491.130.89
Up Capture84%106%101%46%74%56%
Bmk +ve Days6162766132424
Stock +ve Days8213568129393
Down Capture243%122%71%62%106%98%
Bmk -ve Days16263760120328
Stock -ve Days13202857121355

[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 J
J-7.5%32.6%-0.21-
Sector ETF (XLI)8.8%17.2%0.3237.4%
Equity (SPY)14.9%12.7%0.8129.6%
Gold (GLD)-2.9%28.5%-0.126.1%
Commodities (DBC)48.1%20.6%1.79-3.5%
Real Estate (VNQ)4.9%13.9%0.1027.6%
Bitcoin (BTCUSD)-26.4%43.5%-0.5919.4%

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 J
J6.8%26.2%0.24-
Sector ETF (XLI)11.8%17.6%0.5063.3%
Equity (SPY)12.8%17.1%0.5656.0%
Gold (GLD)17.4%18.9%0.744.7%
Commodities (DBC)9.4%19.5%0.3610.1%
Real Estate (VNQ)1.2%18.9%-0.0549.4%
Bitcoin (BTCUSD)5.5%51.7%0.2925.7%

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 J
J14.6%27.9%0.52-
Sector ETF (XLI)13.2%20.1%0.5768.8%
Equity (SPY)15.4%17.9%0.7361.4%
Gold (GLD)11.9%16.4%0.593.2%
Commodities (DBC)8.3%18.1%0.3721.2%
Real Estate (VNQ)5.3%20.7%0.2149.9%
Bitcoin (BTCUSD)62.3%66.2%1.0215.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity4.0 Mil
Short Interest: % Change Since 915202625.6%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest4.5 days
Basic Shares Quantity117.7 Mil
Short % of Basic Shares3.4%

Earnings Returns History

Updated 9/23/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.4%3.5%3.3%
5/5/2026-7.3%-16.4%-9.2%
2/3/20267.8%13.7%2.7%
11/20/2025-10.9%-6.3%-6.2%
8/5/20253.8%5.7%2.7%
5/6/2025-5.7%0.7%0.5%
2/4/2025-3.5%-3.2%-10.2%
11/19/2024-4.9%-0.7%-5.6%
...
SUMMARY STATS   
# Positive11912
# Negative131512
Median Positive2.1%4.0%2.7%
Median Negative-4.9%-3.4%-6.4%
Max Positive7.8%13.7%14.5%
Max Negative-10.9%-16.4%-10.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.4%3.5%3.3%
5/5/2026-7.3%-16.4%-9.2%
2/3/20267.8%13.7%2.7%
11/20/2025-10.9%-6.3%-6.2%
8/5/20253.8%5.7%2.7%
5/6/2025-5.7%0.7%0.5%
2/4/2025-3.5%-3.2%-10.2%
11/19/2024-4.9%-0.7%-5.6%
8/6/20240.4%2.4%4.8%
5/7/2024-5.0%-7.2%-7.0%
2/6/20242.1%6.2%7.5%
11/21/2023-8.7%-9.4%-7.9%
8/8/20234.6%6.6%2.9%
5/9/20231.3%-2.8%-0.8%
2/7/2023-1.9%-1.8%-2.9%
11/21/2022-3.0%-3.4%-6.2%
8/1/2022-5.7%-7.1%-6.6%
5/3/20220.6%-5.5%0.9%
2/8/2022-3.0%-5.8%-1.7%
11/23/2021-1.8%-2.7%-8.2%
8/3/2021-3.3%-2.6%0.8%
5/10/20211.7%-1.1%2.1%
2/9/20212.7%3.8%14.5%
11/24/20202.9%4.0%2.2%
SUMMARY STATS   
# Positive11912
# Negative131512
Median Positive2.1%4.0%2.7%
Median Negative-4.9%-3.4%-6.4%
Max Positive7.8%13.7%14.5%
Max Negative-10.9%-16.4%-10.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/05/202610-Q
12/31/202502/03/202610-Q
09/30/202511/20/202510-K
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/04/202510-Q
09/30/202411/25/202410-K
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/06/202410-Q
09/30/202311/21/202310-K
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202202/07/202310-Q
09/30/202211/21/202210-K
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/05/202610-Q
12/31/202502/03/202610-Q
09/30/202511/20/202510-K
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/04/202510-Q
09/30/202411/25/202410-K
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/06/202410-Q
09/30/202311/21/202310-K
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202202/07/202310-Q
09/30/202211/21/202210-K
06/30/202208/01/202210-Q
03/31/202205/03/202210-Q
12/31/202102/08/202210-Q
09/30/202111/23/202110-K
06/30/202108/03/202110-Q
03/31/202105/10/202110-Q
12/31/202002/09/202110-Q
09/30/202011/24/202010-K
06/30/202008/03/202010-Q
03/31/202005/06/202010-Q
12/31/201902/04/202010-Q
09/30/201911/25/201910-K

Recent Forward Guidance

Updated 8/5/2026

Latest: Q3 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Revenue GrowthReported9.5%9.75%10.0% 0.5%RaisedGuidance: 9.25% for 2026
2026 Adjusted EBITDA MarginReported14.7%14.75%14.8% 0.0%AffirmedGuidance: 14.75% for 2026
2026 Adjusted EPSReported7.27.257.30.3% RaisedGuidance: 7.23 for 2026
2026 Adjusted Free Cash Flow MarginReported 8.0%  0.2%RaisedGuidance: 7.75% for 2026


Prior: Q2 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Revenue GrowthReported8.0%9.25%10.5% 1.0%RaisedGuidance: 8.25% for 2026
2026 Adjusted EBITDA MarginReported14.6%14.75%14.9% 0.2%RaisedGuidance: 14.55% for 2026
2026 Adjusted EPSReported7.17.237.351.4% RaisedGuidance: 7.13 for 2026
2026 Adjusted Free Cash Flow MarginReported7.0%7.75%8.5% 0.0%AffirmedGuidance: 7.75% for 2026

Q1 2026 Earnings Reported 2/3/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Revenue GrowthReported6.5%8.25%10.0% 0.2%RaisedGuidance: 8.0% for 2026
2026 Adjusted EBITDA MarginReported14.4%14.55%14.7% 0.0%AffirmedGuidance: 14.55% for 2026
2026 Adjusted EPSReported6.957.137.30.4% RaisedGuidance: 7.1 for 2026
2026 Free Cash Flow MarginReported7.0%7.75%8.5% 0.2%RaisedGuidance: 7.5% for 2026

Q4 2025 Earnings Reported 11/20/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted Net Revenue GrowthReported6.0%8.0%10.0%45.4%2.5%Higher NewActual: 5.5% for 2025
2026 Adjusted EBITDA MarginReported14.4%14.55%14.7%4.7%0.6%Higher NewActual: 13.9% for 2025
2026 Adjusted EPSReported6.97.17.317.4% Higher NewActual: 6.05 for 2025
2026 Free Cash Flow MarginReported7.0%7.5%8.0%   

Insider Activity

Updated 8/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hill, PatrickPRESIDENTDirectSell8112026144.1017,2012,478,5839,705,681Form
2Pragada, Robert VChair & CEODirectBuy5182026111.093,601400,03537,076,843Form
3Fernandez, Manuel JDirectBuy5142026112.5625328,4781,407,450Form
4Fernandez, Manuel JDirectBuy5122026121.9340349,1371,493,752Form
5Miller, ShannonPresidentDirectSell3102026134.131,440193,1473,399,391Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hill, PatrickPRESIDENTDirectSell8112026144.1017,2012,478,5839,705,681Form
2Pragada, Robert VChair & CEODirectBuy5182026111.093,601400,03537,076,843Form
3Fernandez, Manuel JDirectBuy5142026112.5625328,4781,407,450Form
4Fernandez, Manuel JDirectBuy5122026121.9340349,1371,493,752Form
5Miller, ShannonPresidentDirectSell3102026134.131,440193,1473,399,391Form
6Robertson, Peter JTrustBuy11252025134.761,000134,760134,760Form
7Nathamuni, VenkateshChief Financial OfficerDirectBuy11252025135.11750101,3332,808,261Form
8Fernandez, Manuel JDirectBuy11252025130.7876399,7851,357,496Form

Investor Activity (13F)

Updated Oct 27, 2026
13F 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.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
L1 Capital International Pty Ltd$90.9 Mil5.4%23Hold13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Incline Global Management LLC$10.7 Mil3.6%30Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
L1 Capital International Pty Ltd$90.9 Mil5.4%23Hold13F
Core Cache Last Updated: 10/26/2026