KBR (KBR)
Market Price (9/27/2026): $34.535 | Market Cap: $4.4 BilSector: Industrials | Industry: Diversified Support Services
KBR (KBR)
Market Price (9/27/2026): $34.535Market Cap: $4.4 BilSector: IndustrialsIndustry: Diversified Support Services
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 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8%, FCF Yield is 8.2% Low stock price volatilityVol 12M is 34% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Commercial Space Exploration, Show more. | Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -117% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.6% Key risksKBR key risks include [1] severe financial and reputational damage from the "for cause" termination of its major DoD household goods contract due to operational failures, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8%, FCF Yield is 8.2% |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Commercial Space Exploration, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -117% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.6% |
| Key risksKBR key risks include [1] severe financial and reputational damage from the "for cause" termination of its major DoD household goods contract due to operational failures, Show more. |
Qualitative Assessment
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Updated on 9/22/2026
KBR (KBR) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Q2 Fiscal 2026 Financial Results with Decreased Cash Flow.KBR reported strong adjusted earnings per share of $0.99 for fiscal Q2 2026 (ended July 1, 2026), surpassing analysts' consensus estimate of $0.90 by $0.09. Quarterly revenue also exceeded expectations, reaching $1.98 billion against an estimate of $1.87 billion. However, despite these beats, the company's operating income declined 11% year-over-year to $172 million, attributed partly to one-time costs associated with the planned spin-off. Furthermore, operating cash flows from continuing operations for the quarter significantly decreased by 77%, or $167 million, year-over-year, to $50 million, with adjusted operating cash flows down 71% to $64 million, which likely created investor caution.
2. Spin-Off Uncertainty and Associated Execution Risks.The ongoing planned spin-off of KBR's Mission Technology Solutions (MTS) business into a separate, independent public company named Trinzic, targeting completion on January 4, 2027, introduced elements of complexity and execution risk that weighed on the stock. Despite management's view that the separation will unlock value, the initial market reaction to the Q2 fiscal 2026 earnings release on July 30, 2026, saw the stock fall 8.14%, with investors focusing on the "complexity of the company's planned separation." This persistent uncertainty, coupled with the transitional costs impacting profitability, contributed to the stock's consolidation.
Show more
KBR (KBR) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Q2 Fiscal 2026 Financial Results with Decreased Cash Flow.KBR reported strong adjusted earnings per share of $0.99 for fiscal Q2 2026 (ended July 1, 2026), surpassing analysts' consensus estimate of $0.90 by $0.09. Quarterly revenue also exceeded expectations, reaching $1.98 billion against an estimate of $1.87 billion. However, despite these beats, the company's operating income declined 11% year-over-year to $172 million, attributed partly to one-time costs associated with the planned spin-off. Furthermore, operating cash flows from continuing operations for the quarter significantly decreased by 77%, or $167 million, year-over-year, to $50 million, with adjusted operating cash flows down 71% to $64 million, which likely created investor caution.
2. Spin-Off Uncertainty and Associated Execution Risks.The ongoing planned spin-off of KBR's Mission Technology Solutions (MTS) business into a separate, independent public company named Trinzic, targeting completion on January 4, 2027, introduced elements of complexity and execution risk that weighed on the stock. Despite management's view that the separation will unlock value, the initial market reaction to the Q2 fiscal 2026 earnings release on July 30, 2026, saw the stock fall 8.14%, with investors focusing on the "complexity of the company's planned separation." This persistent uncertainty, coupled with the transitional costs impacting profitability, contributed to the stock's consolidation.
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Updated on 9/22/2026
KBR (KBR) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Q2 Fiscal 2026 Financial Results with Decreased Cash Flow.KBR reported strong adjusted earnings per share of $0.99 for fiscal Q2 2026 (ended July 1, 2026), surpassing analysts' consensus estimate of $0.90 by $0.09. Quarterly revenue also exceeded expectations, reaching $1.98 billion against an estimate of $1.87 billion. However, despite these beats, the company's operating income declined 11% year-over-year to $172 million, attributed partly to one-time costs associated with the planned spin-off. Furthermore, operating cash flows from continuing operations for the quarter significantly decreased by 77%, or $167 million, year-over-year, to $50 million, with adjusted operating cash flows down 71% to $64 million, which likely created investor caution.
2. Spin-Off Uncertainty and Associated Execution Risks.The ongoing planned spin-off of KBR's Mission Technology Solutions (MTS) business into a separate, independent public company named Trinzic, targeting completion on January 4, 2027, introduced elements of complexity and execution risk that weighed on the stock. Despite management's view that the separation will unlock value, the initial market reaction to the Q2 fiscal 2026 earnings release on July 30, 2026, saw the stock fall 8.14%, with investors focusing on the "complexity of the company's planned separation." This persistent uncertainty, coupled with the transitional costs impacting profitability, contributed to the stock's consolidation.
3. Divergent Segment Performance and Lingering Backlog Protests.KBR experienced mixed performance across its segments. The Sustainable Technology Solutions (STS) segment demonstrated robust growth, achieving a record backlog of $5.5 billion and a strong book-to-bill ratio of 1.5x in fiscal Q2 2026. Conversely, the Mission Technology Solutions (MTS) segment reported a lower book-to-bill ratio of 0.8x, significantly impacted by approximately $10.6 billion of awarded work currently under protest. This included an $8 billion National Science Foundation Antarctic Program contract, which if resolved, could boost future revenue but currently creates uncertainty and delays revenue recognition, thus offsetting some of the positive momentum from the STS segment.
4. Reaffirmed Guidance Offset by Mixed Analyst Sentiment.KBR reaffirmed its full-year fiscal 2026 guidance for revenue between $7.90 billion and $8.36 billion, adjusted EBITDA between $980 million and $1.04 billion, and adjusted EPS of $3.87 to $4.22. The company also highlighted strong visibility, with 89% of its expected full-year revenue already under contract. While the reaffirmed guidance provides a stable outlook, analyst sentiment regarding KBR during this period has been mixed. While generally maintaining a "Buy" or "Hold" consensus, some analysts adjusted price targets downward (e.g., Oppenheimer lowered to $50 from $60, and B of A Securities to $40 from $45). This cautious stance from some analysts, despite the overall positive guidance, likely tempered significant upward movement in the stock price.
Show less
KBR (KBR) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Q2 Fiscal 2026 Financial Results with Decreased Cash Flow.KBR reported strong adjusted earnings per share of $0.99 for fiscal Q2 2026 (ended July 1, 2026), surpassing analysts' consensus estimate of $0.90 by $0.09. Quarterly revenue also exceeded expectations, reaching $1.98 billion against an estimate of $1.87 billion. However, despite these beats, the company's operating income declined 11% year-over-year to $172 million, attributed partly to one-time costs associated with the planned spin-off. Furthermore, operating cash flows from continuing operations for the quarter significantly decreased by 77%, or $167 million, year-over-year, to $50 million, with adjusted operating cash flows down 71% to $64 million, which likely created investor caution.
2. Spin-Off Uncertainty and Associated Execution Risks.The ongoing planned spin-off of KBR's Mission Technology Solutions (MTS) business into a separate, independent public company named Trinzic, targeting completion on January 4, 2027, introduced elements of complexity and execution risk that weighed on the stock. Despite management's view that the separation will unlock value, the initial market reaction to the Q2 fiscal 2026 earnings release on July 30, 2026, saw the stock fall 8.14%, with investors focusing on the "complexity of the company's planned separation." This persistent uncertainty, coupled with the transitional costs impacting profitability, contributed to the stock's consolidation.
3. Divergent Segment Performance and Lingering Backlog Protests.KBR experienced mixed performance across its segments. The Sustainable Technology Solutions (STS) segment demonstrated robust growth, achieving a record backlog of $5.5 billion and a strong book-to-bill ratio of 1.5x in fiscal Q2 2026. Conversely, the Mission Technology Solutions (MTS) segment reported a lower book-to-bill ratio of 0.8x, significantly impacted by approximately $10.6 billion of awarded work currently under protest. This included an $8 billion National Science Foundation Antarctic Program contract, which if resolved, could boost future revenue but currently creates uncertainty and delays revenue recognition, thus offsetting some of the positive momentum from the STS segment.
4. Reaffirmed Guidance Offset by Mixed Analyst Sentiment.KBR reaffirmed its full-year fiscal 2026 guidance for revenue between $7.90 billion and $8.36 billion, adjusted EBITDA between $980 million and $1.04 billion, and adjusted EPS of $3.87 to $4.22. The company also highlighted strong visibility, with 89% of its expected full-year revenue already under contract. While the reaffirmed guidance provides a stable outlook, analyst sentiment regarding KBR during this period has been mixed. While generally maintaining a "Buy" or "Hold" consensus, some analysts adjusted price targets downward (e.g., Oppenheimer lowered to $50 from $60, and B of A Securities to $40 from $45). This cautious stance from some analysts, despite the overall positive guidance, likely tempered significant upward movement in the stock price.
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Stock Movement Drivers
Fundamental Drivers
The -0.3% change in KBR stock from 5/31/2026 to 9/26/2026 was primarily driven by a -6.4% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.63 | 34.54 | -0.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,691 | 7,723 | 0.4% |
| Net Income Margin (%) | 5.2% | 5.5% | 5.3% |
| P/E Multiple | 11.0 | 10.3 | -6.4% |
| Shares Outstanding (Mil) | 127 | 126 | 0.8% |
| Cumulative Contribution | -0.3% |
Market Drivers
5/31/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| KBR | -0.3% | |
| Market (SPY) | 2.2% | 19.7% |
| Sector (XLI) | -1.3% | 21.5% |
Fundamental Drivers
The -17.1% change in KBR stock from 2/28/2026 to 9/26/2026 was primarily driven by a -18.8% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.66 | 34.54 | -17.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,786 | 7,723 | -0.8% |
| Net Income Margin (%) | 5.3% | 5.5% | 3.0% |
| P/E Multiple | 12.6 | 10.3 | -18.8% |
| Shares Outstanding (Mil) | 126 | 126 | 0.0% |
| Cumulative Contribution | -17.1% |
Market Drivers
2/28/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| KBR | -17.1% | |
| Market (SPY) | 13.0% | 18.6% |
| Sector (XLI) | -3.3% | 21.1% |
Fundamental Drivers
The -30.1% change in KBR stock from 8/31/2025 to 9/26/2026 was primarily driven by a -41.2% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.42 | 34.54 | -30.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,015 | 7,723 | -3.6% |
| Net Income Margin (%) | 4.6% | 5.5% | 20.6% |
| P/E Multiple | 17.5 | 10.3 | -41.2% |
| Shares Outstanding (Mil) | 129 | 126 | 2.4% |
| Cumulative Contribution | -30.1% |
Market Drivers
8/31/2025 to 9/26/2026| Return | Correlation | |
|---|---|---|
| KBR | -30.1% | |
| Market (SPY) | 20.9% | 24.6% |
| Sector (XLI) | 13.6% | 28.5% |
Fundamental Drivers
The -41.5% change in KBR stock from 8/31/2023 to 9/26/2026 was primarily driven by a -52.7% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 59.01 | 34.54 | -41.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,690 | 7,723 | 15.4% |
| P/S Multiple | 1.2 | 0.6 | -52.7% |
| Shares Outstanding (Mil) | 135 | 126 | 7.1% |
| Cumulative Contribution | -41.5% |
Market Drivers
8/31/2023 to 9/26/2026| Return | Correlation | |
|---|---|---|
| KBR | -41.5% | |
| Market (SPY) | 77.8% | 37.4% |
| Sector (XLI) | 64.4% | 42.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KBR Return | 56% | 12% | 6% | 6% | -30% | -12% | 20% |
| Peers Return | 23% | 19% | 10% | 19% | -2% | -1% | 84% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| KBR Win Rate | 83% | 58% | 58% | 58% | 25% | 44% | |
| Peers Win Rate | 53% | 58% | 55% | 65% | 55% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| KBR Max Drawdown | -12% | -24% | -24% | -23% | -34% | -33% | |
| Peers Max Drawdown | -23% | -22% | -21% | -21% | -29% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LDOS, J, FLR, ACM, SAIC. See KBR 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 9/25/2026 (YTD)
How Low Can It Go
| Event | KBR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -10.2% | -18.8% |
| % Gain to Breakeven | 11.4% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.7% | -9.5% |
| % Gain to Breakeven | 27.7% | 10.5% |
| Time to Breakeven | 143 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -10.4% | -24.5% |
| % Gain to Breakeven | 11.6% | 32.4% |
| Time to Breakeven | 28 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.2% | -33.7% |
| % Gain to Breakeven | 133.8% | 50.9% |
| Time to Breakeven | 287 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 118 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.0% | -3.7% |
| % Gain to Breakeven | 12.3% | 3.9% |
| Time to Breakeven | 2 days | 6 days |
In The Past
KBR's stock fell -10.2% during the 2025 US Tariff Shock. Such a loss loss requires a 11.4% gain to breakeven.
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Asset Allocation
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| Event | KBR | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.7% | -9.5% |
| % Gain to Breakeven | 27.7% | 10.5% |
| Time to Breakeven | 143 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.2% | -33.7% |
| % Gain to Breakeven | 133.8% | 50.9% |
| Time to Breakeven | 287 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 118 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -36.0% | -12.2% |
| % Gain to Breakeven | 56.3% | 13.9% |
| Time to Breakeven | 574 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -45.1% | -6.8% |
| % Gain to Breakeven | 82.2% | 7.3% |
| Time to Breakeven | 634 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.1% | -17.9% |
| % Gain to Breakeven | 75.9% | 21.8% |
| Time to Breakeven | 3447 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -75.2% | -53.4% |
| % Gain to Breakeven | 303.6% | 114.4% |
| Time to Breakeven | 973 days | 1085 days |
In The Past
KBR's stock fell -10.2% during the 2025 US Tariff Shock. Such a loss loss requires a 11.4% 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 KBR (KBR)
KBR, Inc. is a global provider of scientific, technology, and engineering solutions, serving both governments and commercial customers worldwide. The company operates through two primary segments: Government Solutions and Sustainable Technology Solutions, delivering specialized expertise across diverse industries.
The Government Solutions segment is a key partner for defense, intelligence, space, and other government agencies in the United States, United Kingdom, and Australia. It offers a comprehensive suite of life-cycle support services, including research and development, advanced prototyping, systems engineering, cyber analytics, space domain awareness, and program management. This segment also provides professional advisory services, particularly in high-end systems engineering and technology, to customers in defense, energy, and critical infrastructure sectors.
KBR's Sustainable Technology Solutions segment focuses on commercial customers, offering a portfolio of approximately 70 proprietary process technologies for sectors such as ammonia, chemicals, clean refining, and circular economy solutions. This segment also provides advisory and consulting services centered on energy transition and achieving net-zero carbon emissions. Additionally, it delivers engineering, design, and professional services, leveraging its digital KBR INSITE platform to help clients improve production, reliability, environmental impact, and energy efficiency.
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1. Like a Booz Allen Hamilton for advanced defense, space, and intelligence technology services.
2. Like a Honeywell UOP for sustainable industrial process technologies and energy transition consulting.
AI Analysis | Feedback
- Government Life-Cycle Support: Provides comprehensive support from research and development to operations readiness for defense, intelligence, space, aviation, and other government programs.
- Government Professional Advisory: Offers high-end systems engineering, systems assurance, and technology advisory services to defense, energy, and critical infrastructure sectors.
- Proprietary Process Technologies: Delivers a portfolio of approximately 70 technologies for ammonia, chemicals, clean refining, and circular economy solutions.
- Energy Transition & Net-Zero Consulting: Provides advisory and consulting services focused on energy transition and achieving net-zero carbon emissions.
- Engineering, Design & Professional Services: Offers general engineering, design, and professional services for commercial customers.
- KBR INSITE Industrial Solutions: A proprietary digital platform providing operations and maintenance solutions for sustainable industrial improvements.
AI Analysis | Feedback
KBR, Inc. serves two primary categories of major customers:
- Governments and Government Agencies: KBR's Government Solutions segment provides life-cycle support solutions and professional advisory services to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies primarily in the United States, the United Kingdom, and Australia. This includes customers across the defense, energy, and critical infrastructure sectors.
- Commercial Customers (Other Companies): Through its Sustainable Technology Solutions segment, KBR provides proprietary process technologies, advisory, consulting, engineering, and industrial solutions to companies in various industries worldwide. These commercial customers include those in the ammonia/syngas/fertilizers, chemical/petrochemicals, clean refining, and circular process/circular economy sectors. KBR also serves companies focused on energy transition and net-zero carbon emission consulting.
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Stuart J. B. Bradie President and Chief Executive Officer
Stuart Bradie joined KBR in June 2014 as President and Chief Executive Officer, and is set to assume the additional role of Chair of the Board in May 2025. With over 30 years of industry experience, he leads KBR from its headquarters in Houston, Texas, and a UK office in Leatherhead. Prior to KBR, Mr. Bradie served as Group Managing Director – Operations and Delivery at WorleyParsons Ltd., where he oversaw global operations across the hydrocarbons, mining, chemicals, power, and infrastructure sectors in more than 40 countries. His tenure at WorleyParsons, which he joined in 2001, included roles as Managing Director for Europe, Africa, Asia, and the Middle East. Earlier in his career, he held Managing Director and Country Manager positions with PT Kvaerner Indonesia and Kvaerner Philippines. Mr. Bradie holds a Bachelor of Science degree in Mechanical Engineering from the University of Aberdeen and a Master of Business Administration from the Edinburgh Business School, Heriot-Watt University. He also joined the board of directors of Rolls-Royce Holdings plc in May 2023.
Shad Evans Executive Vice President and Chief Financial Officer
Shad Evans was appointed as KBR's Executive Vice President and Chief Financial Officer in January 2026. Prior to this role, he was President of KBR's Government Solutions U.S. business, a position he assumed in 2024. Before that, he served as Senior Vice President of Investor Relations and was also the Chief Accounting Officer and Vice President of Internal Audit at KBR. He joined the company in 2015 as Vice President, Internal Audit. Mr. Evans previously held positions at EY, a global accounting firm, for over 12 years. He is a Certified Public Accountant and holds a Bachelor of Business Administration in Accounting from the University of Houston.
Greg Conlon Chief Digital & Development Officer
Greg Conlon serves as KBR's Chief Digital & Development Officer, a role he assumed in January 2019. In this position, he is responsible for the company's digital strategy and its implementation. Before his current role, Mr. Conlon was KBR's Executive Vice President and Chief Development Officer, overseeing Strategy, Global Business Development, Marketing, Consulting, and Mergers and Acquisitions. He also previously served as KBR's President, Asia-Pacific (APAC), with responsibility for Engineering and Construction (E&C) and Government Services in that region.
Jenni Myles Executive Vice President and Chief People Officer
Jenni Myles joined KBR in May 2020 as Executive Vice President and Chief People Officer. She brings over 30 years of human resources experience to KBR and is known for delivering sustainable business results. Before KBR, Ms. Myles spent 20 years at G4S, a leading integrated security company, where she held various positions of increasing responsibility. Her last role at G4S was Group HR Director, where she was a core member of the Group Executive Committee, sharing responsibility for overall business transformation and strategy delivery, and establishing a global human resources strategy.
Jay Ibrahim President, Sustainable Technology Solutions
Jay Ibrahim serves as President of KBR's Sustainable Technology Solutions segment. He also previously held the position of President of Engineering and Construction for the Middle East and North Africa at KBR. In his current role, Mr. Ibrahim oversees KBR's portfolio of proprietary process technologies and its advisory and consulting practices focused on energy transition and net-zero carbon emissions.
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Here are the key risks to KBR's business:
- Dependence on Government Contracts and Associated Execution Risks: KBR's significant reliance on government and technology solutions means its financial performance is highly susceptible to federal spending decisions, budget changes, and policy shifts. The company has experienced delays in contract awards, unresolved bid protests, and revenue headwinds from government shutdowns. A notable instance includes the termination of a major military contract with its HomeSafe joint venture due to operational issues, which led to a downward revision of full-year revenue guidance and triggered securities class-action lawsuits. KBR’s substantial backlog, while an indicator of future revenue, remains vulnerable to these governmental and operational delays and challenges in converting awards into revenue.
- Exposure to International Conflicts and Geopolitical Instability: As a global company with operations across more than 30 countries and involvement in international defense programs, KBR is exposed to the risks of international conflicts, geopolitical tensions, and global tariffs. Such events can disrupt supply chains, increase operational costs, and impact project timelines, thereby potentially reducing profitability and market share. Reductions in work related to European Command (EUCOM) and Logistics have already contributed to revenue misses.
- Legal and Regulatory Compliance Challenges: The company faces ongoing legal and regulatory requirements that demand continuous vigilance and robust compliance measures. The termination of the HomeSafe contract, specifically, led to class-action lawsuits alleging misleading statements to investors about the contract's status and operational issues. Such legal and regulatory pressures, including those related to contract disputes and compliance with various governmental regulations, can introduce significant financial and reputational risks.
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KBR, Inc. operates in various addressable markets through its Government Solutions and Sustainable Technology Solutions segments.
Government Solutions Segment
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Defense, Intelligence, Space, and Aviation programs:
- The global defense spending market is expected to grow from USD 2.7 trillion in 2024 to USD 6.38 trillion by 2035, at a Compound Annual Growth Rate (CAGR) of 8.13% during the forecast period 2025-2035. Global military spending reached $2.7 trillion in 2024. North America is estimated to hold a substantial share of the defense spending market, with the U.S. spending $997 billion in 2024, or 36.7% of global military spending.
- The global space economy market was valued at USD 418 billion in 2024 and is projected to reach USD 788.7 billion by 2034, growing at a CAGR of 6.7%. Another source indicates the global space economy reached $596 billion in 2024 and is projected to grow to $944 billion by 2033. North America held a dominant market position in 2024, capturing more than a 35.5% share, with USD 149.2 billion revenue. The U.S. market alone reached USD 130.1 billion.
- The global government and defense cybersecurity market size was valued at US$ 35,871.6 million in 2025 and is estimated to grow at a CAGR of 10.8% from 2025 to 2033, reaching USD 80,698.7 million by 2033. North America was the largest revenue-generating market in 2025.
Sustainable Technology Solutions Segment
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Proprietary process technologies (Ammonia/Syngas/Fertilizers, Chemical/Petrochemicals, Clean Refining):
- The global ammonia market size was valued at USD 83.32 billion in 2024 and is estimated to reach USD 127.10 billion by 2033, exhibiting a CAGR of 4.3% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 55.9% in 2024. The global clean ammonia (blue and green) market size was valued at around USD 2.5 billion in 2025 and is projected to reach USD 24 billion by 2032, with a CAGR of around 45.78%.
- The global syngas market size was estimated at USD 230.05 million Nm3/hr in 2023 and is projected to reach USD 477.97 million Nm3/hr by 2030, growing at a CAGR of 11.3%. Asia Pacific dominated the market, accounting for the largest volume share of 53.5% in 2023.
- The global petrochemical market size was estimated at USD 625,142.2 million in 2024 and is projected to rise at a CAGR of 7.8% between 2024 and 2031. North America held the major market share, more than 40% of the global revenue, with a market size of USD 250,056.9 million in 2024. The global petrochemical market size was calculated at USD 700.10 billion in 2025 and is predicted to increase to approximately USD 1,257.50 billion by 2035, expanding at a CAGR of 6.03% from 2026 to 2035. Asia Pacific dominated the market with a revenue share of 52.14% in 2025.
- The global industrial cleaning market in refineries, which is related to KBR's clean refining solutions, was valued at USD 45.3 billion in 2024 and is expected to reach USD 55.7 billion by 2032, growing at a CAGR of 5.04%. North America is projected to hold a leading position, accounting for approximately 41% of the global market share in 2025.
- The broader global clean technology market, encompassing circular economy solutions, was estimated at USD 916.20 billion in 2024 and is projected to reach USD 1,844.70 billion by 2030, growing at a CAGR of 12.7%. Asia Pacific dominated the industry with a revenue share of over 50.0% in 2024.
-
Advisory and consulting (Energy Transition and Net-Zero Carbon Emission):
- The global energy consulting market is projected to expand from USD 17.3 billion in 2024 to USD 23.3 billion by 2030, growing at a CAGR of 4.9%. North America leads the global energy consulting industry, accounting for approximately 45% of the market volume. The global renewables energy consulting service market was valued at USD 695.7 million in 2025 and is projected to reach USD 1,558.5 million by 2035 at a CAGR of 8.4%.
- The global corporate net-zero consulting market size reached USD 7.8 billion in 2024 and is expected to expand at a CAGR of 13.2% between 2025 and 2033, with the total value forecasted to reach USD 23.6 billion by 2033. Europe remains the dominant market for corporate net-zero consulting in 2024, accounting for approximately 38% of global revenues, followed by North America with 31%. The global Carbon Neutrality Consulting Services market was valued at US$ 20321 million (USD 20.321 billion) in 2025 and is anticipated to reach US$ 32998 million (USD 32.998 billion) by 2032, at a CAGR of 7.2% from 2026 to 2032.
-
Engineering, Design, and Professional Services:
- The global engineering services market size was valued at USD 3.66 trillion in 2025 and is expected to hit around USD 5.74 trillion by 2035, growing at a CAGR of 4.6% from 2026 to 2035. Asia Pacific accounted for the largest revenue share of nearly 37% in 2024. The U.S. market size is estimated to be USD 0.45 trillion in 2026.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for KBR (symbol: KBR) over the next 2-3 years:
- Sustainable Technology Solutions (STS) Segment Growth: KBR anticipates significant revenue growth from its Sustainable Technology Solutions segment, driven by increasing global demand for energy transition, decarbonization, and circular economy solutions. The company is leveraging its portfolio of proprietary process technologies for ammonia/syngas/fertilizers, chemical/petrochemicals, clean refining, and circular economy solutions to meet this demand. This segment is expected to achieve double-digit revenue growth.
- Government Solutions (Mission Technology Solutions - MTS) Segment Growth: The Government Solutions segment, now referred to as Mission Technology Solutions, is expected to see continued revenue expansion. This growth is fueled by increased government spending on defense and logistics due to elevated geopolitical risks, alongside new and on-contract growth across its Defense & Intelligence, Science & Space, and International programs.
- Strategic Acquisitions and International Expansion: KBR aims to drive revenue growth through strategic acquisitions, such as the past integration of LinQuest, which contribute to its capabilities and market reach. Additionally, the company is focused on international expansion, leveraging synergies between its U.S. and global operations to access new markets and opportunities in both its government and sustainable technology segments.
- Conversion of Robust Backlog into Revenue: KBR benefits from a substantial and growing backlog across both its Government Solutions and Sustainable Technology Solutions segments. This significant backlog provides strong revenue visibility and a solid foundation for future earnings as existing projects are executed and delivered over the next several years.
AI Analysis | Feedback
Share Repurchases
- KBR authorized $454 million of share repurchases in February 2025, increasing the total amount authorized to $750 million.
- As of January 2, 2026, $427 million remained available for repurchase under this authorization.
- In fiscal year 2025, KBR returned $413 million to shareholders through buybacks and dividends.
Share Issuance
- KBR's shares outstanding for the quarter ending December 31, 2025, were 129 million, representing a 3.73% decline year-over-year.
Outbound Investments
- KBR acquired LinQuest Corp., a specialist in national security space systems, for $737 million in July 2024.
- In 2022, KBR acquired the UK-based VIMA Group, a digital transformation technology company, and expanded its investment in Mura Technology, a pioneer in circular plastics recycling.
- In October 2021, KBR purchased Frazer-Nash Consultancy, a UK and Australian systems, engineering, and technology company, for approximately £293 million ($406 million).
Capital Expenditures
- Capital expenditures for KBR were $71 million in 2022, $80 million in 2023, and $77 million in fiscal year 2024.
- KBR projected capital expenditures of approximately $50 to $65 million for fiscal year 2025. Fiscal year 2026 guidance projects capital expenditures of approximately $40 to $50 million.
- KBR operates a low capital intensity business model and aims for less capital-intensive work.
Peer Outperformance in Diversified Support Services
KBR has trailed 72% of its 32 Diversified Support Services peers over 5Y. Among the peers that beat it are CTAS, LDOS and UNF. Diversified Support Services ranks 8th of 23 industries in Industrials by median 5Y return.
Share of Diversified Support Services constituents that KBR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
22%
of 37 industry peers · -25.8% return
3Y
9%
of 33 industry peers · -39.3% return
5Y
28%
of 32 industry peers · -9.0% return
Diversified Support Services peers with revenue growth within 4pp of KBR'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 |
|---|---|---|---|---|---|---|---|
| KBR | KBR | 5.1% | 10.3x | -25.8% | -39.3% | -9.0% | — |
| CTAS | Cintas | 8.5% | 40.0x | -1.1% | 70.6% | 111.9% | +121pp |
| LDOS | Leidos | 5.9% | 11.3x | -32.4% | 39.0% | 36.4% | +45pp |
| UNF | UniFirst | 4.6% | 40.5x | 54.5% | 62.4% | 20.9% | +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. Diversified Support Services is KBR'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 | 4.3% | 110.6% | 183.4% | FIX 2185% · STRL 2110% · CDNL 2055% |
| Marine Transportation | 9 | 72.3% | 97.9% | 148.9% | HOS 43005% · ASC 465% · MATX 188% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 5.4% | 46.5% | 121.9% | CAT 348% · ALSN 240% · WAB 229% |
| Aerospace & Defense | 55 | -7.5% | 70.5% | 76.3% | ATI 980% · FTAI 863% · HWM 615% |
| Rail Transportation | 7 | 19.3% | 61.1% | 50.3% | FSTR 137% · CSX 64% · RAIL 53% |
| Trading Companies & Distributors | 19 | 4.4% | 36.4% | 47.5% | DXPE 535% · AIT 278% · WCC 217% |
| Industrial Machinery & Supplies & Components | 72 | 11.1% | 53.8% | 43.7% | CRS 1139% · PSIX 1112% · EROC 624% |
| Diversified Support Services ← | 33 | 16.3% | 34.2% | 31.9% | LIME 3297% · TH 422% · WLFC 352% |
| Cargo Ground Transportation | 16 | 33.0% | -0.3% | 24.8% | XPO 234% · R 212% · CVLG 133% |
| Electrical Components & Equipment | 41 | 7.0% | 58.4% | 22.0% | POWL 2282% · BE 1336% · VRT 954% |
| Building Products | 34 | -12.4% | 2.4% | 18.2% | LMB 633% · GFF 387% · PPIH 315% |
| Industrial Conglomerates | 17 | 9.4% | 5.0% | -3.2% | RCMT 504% · CSW 136% · DD 72% |
| Passenger Ground Transportation | 3 | -32.0% | 44.0% | -5.1% | UBER 47% · CAR -5% · LYFT -73% |
| Agricultural & Farm Machinery | 17 | 4.5% | 0.8% | -8.1% | BLBD 173% · DE 109% · GENC 55% |
| Environmental & Facilities Services | 30 | -15.4% | 19.5% | -8.6% | CECO 895% · ADUR 437% · GEO 335% |
| Research & Consulting Services | 13 | -16.9% | -26.7% | -14.0% | HURN 201% · CRAI 76% · GRNQ 69% |
| Data Processing & Outsourced Services | 6 | -34.1% | -15.1% | -29.8% | EXLS 40% · BR 7% · G -27% |
| Passenger Airlines | 11 | 19.0% | 22.6% | -33.2% | LTM 2741% · UAL 132% · DAL 101% |
| Office Services & Supplies | 9 | 15.7% | 19.6% | -36.0% | PBI 161% · TILE 138% · HNI 49% |
| Air Freight & Logistics | 12 | -20.3% | -22.2% | -39.1% | CHRW 85% · FDX 74% · EXPD 60% |
| Human Resource & Employment Services | 21 | 4.2% | -19.7% | -39.1% | BBSI 66% · ADP 46% · PAYX 9% |
| Security & Alarm Services | 10 | -22.8% | 22.3% | -45.9% | CIX 157% · MG 114% · NL 73% |
| Airport Services | 3 | -75.0% | -78.5% | -68.2% | JOBY -37% · ASLE -68% · 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 | ||
| Is 14.2% Fall In KBR (KBR) Stock A Buying Opportunity? | 03/11/2026 | |
| KBR Earnings Notes | 12/29/2026 | |
| KBR Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 | |
| How Does KBR Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Better Bet Than KBR Stock: Pay Less Than KBR To Get More From OKE, IBKR | 08/12/2025 | |
| Better Bet Than KBR Stock: Pay Less Than KBR To Get More From ALK | 08/12/2025 | |
| KBR Dip Buy Analysis | 07/10/2025 | |
| KBR Total Shareholder Return (TSR): 9.0% in 2024 and 9.5% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| KBR (KBR) Operating Cash Flow Comparison | 02/17/2025 | |
| ARTICLES | ||
| Time To Buy The Dip In KBR Stock? | 03/11/2026 | |
| Stocks Trading At 52-Week Low | 10/31/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 92.25 |
| Mkt Cap | 7.4 |
| Rev LTM | 14,806 |
| Op Inc LTM | 621 |
| FCF LTM | 487 |
| FCF 3Y Avg | 526 |
| CFO LTM | 534 |
| CFO 3Y Avg | 607 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.2% |
| Rev Chg 3Y Avg | 4.3% |
| Rev Chg Q | 6.7% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | -14.6% |
| Op Inc Chg 3Y Avg | 11.6% |
| Op Mgn LTM | 5.9% |
| Op Mgn 3Y Avg | 6.4% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 5.2% |
| CFO/Rev 3Y Avg | 6.0% |
| FCF/Rev LTM | 4.6% |
| FCF/Rev 3Y Avg | 5.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.4 |
| P/S | 0.7 |
| P/Op Inc | 8.7 |
| P/EBIT | 8.6 |
| P/E | 13.1 |
| P/CFO | 9.6 |
| Total Yield | 6.8% |
| Dividend Yield | 1.3% |
| FCF Yield 3Y Avg | 5.3% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.1% |
| 3M Rtn | 7.2% |
| 6M Rtn | 2.2% |
| 12M Rtn | -15.6% |
| 3Y Rtn | 28.8% |
| 1M Excs Rtn | -8.4% |
| 3M Excs Rtn | 1.9% |
| 6M Excs Rtn | -19.4% |
| 12M Excs Rtn | -33.7% |
| 3Y Excs Rtn | -48.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mission Technology Solutions (MTS) | 5,581 | 5,555 | 5,119 | 5,320 | 6,149 |
| Sustainable Technology Solutions (STS) | 2,205 | 2,155 | 1,837 | 1,244 | 1,190 |
| Corporate | 0 | 0 | 0 | 0 | 0 |
| Total | 7,786 | 7,710 | 6,956 | 6,564 | 7,339 |
| $ Mil | 2026 | 2025 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sustainable Technology Solutions (STS) | 477 | 405 | 354 | 47 | -30 |
| Mission Technology Solutions (MTS) | 463 | 415 | 256 | 441 | 414 |
| Corporate | -162 | -161 | -161 | -145 | -153 |
| Total | 778 | 659 | 449 | 343 | 231 |
| $ Mil | 2026 | 2025 | 2023 | 2022 |
|---|---|---|---|---|
| Sustainable Technology Solutions (STS) | 472 | 400 | 352 | 65 |
| Mission Technology Solutions (MTS) | 457 | 416 | 258 | 443 |
| Corporate | -478 | -442 | -874 | -318 |
| Total | 451 | 374 | -264 | 190 |
| $ Mil | 2026 | 2025 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mission Technology Solutions (MTS) | 4,432 | 4,534 | 3,737 | 3,735 | 4,245 |
| Sustainable Technology Solutions (STS) | 1,184 | 1,182 | 996 | 915 | 1,145 |
| Corporate | 968 | 947 | 832 | 916 | 809 |
| Total | 6,584 | 6,663 | 5,565 | 5,566 | 6,199 |
Price Behavior
Price Behavior
| Market Price | $34.54 | |
| Market Cap ($ Bil) | 4.4 | |
| First Trading Date | 11/16/2006 | |
| Distance from 52W High | -26.4% | |
| 50 Days | 200 Days | |
| DMA Price | $36.68 | $37.52 |
| DMA Trend | down | up |
| Distance from DMA | -5.8% | -7.9% |
| 3M | 1YR | |
| Volatility | 32.5% | 33.7% |
| Downside Capture | 108.01 | 105.16 |
| Upside Capture | 97.41 | 50.81 |
| Correlation (SPY) | 21.6% | 25.6% |
KBR Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.27 | 0.74 | 0.54 | 0.48 | 0.66 | 0.75 |
| Up Beta | 0.55 | -0.58 | -0.16 | 0.09 | 0.13 | 0.59 |
| Down Beta | 0.74 | 1.78 | 0.90 | 0.75 | 1.04 | 0.92 |
| Up Capture | 162% | 122% | 80% | 31% | 35% | 26% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 13 | 23 | 36 | 63 | 119 | 380 |
| Down Capture | 203% | 77% | 52% | 81% | 99% | 98% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 7 | 18 | 27 | 62 | 129 | 367 |
[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 KBR | |
|---|---|---|---|---|
| KBR | -29.1% | 33.9% | -0.97 | - |
| Sector ETF (XLI) | 13.0% | 17.2% | 0.54 | 29.9% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 25.9% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | 1.7% |
| Commodities (DBC) | 44.3% | 20.7% | 1.66 | 2.7% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 25.8% |
| Bitcoin (BTCUSD) | -25.9% | 44.8% | -0.54 | 15.8% |
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 KBR | |
|---|---|---|---|---|
| KBR | -1.0% | 29.3% | -0.02 | - |
| Sector ETF (XLI) | 12.9% | 17.6% | 0.56 | 49.3% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 42.4% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | 7.2% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 16.7% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 35.5% |
| Bitcoin (BTCUSD) | 12.2% | 52.6% | 0.41 | 17.0% |
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 KBR | |
|---|---|---|---|---|
| KBR | 10.8% | 36.6% | 0.39 | - |
| Sector ETF (XLI) | 13.4% | 20.0% | 0.59 | 62.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 56.9% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 4.3% |
| Commodities (DBC) | 8.5% | 18.1% | 0.38 | 28.7% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 47.2% |
| Bitcoin (BTCUSD) | 63.8% | 66.2% | 1.03 | 16.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 6.5% | 9.3% | 10.6% |
| 5/5/2026 | -4.0% | -12.3% | -1.2% |
| 2/26/2026 | 0.5% | -4.5% | -11.6% |
| 10/30/2025 | 3.2% | 0.4% | 5.2% |
| 7/31/2025 | 2.7% | 9.0% | 12.7% |
| 5/6/2025 | 0.4% | 3.3% | -3.4% |
| 2/24/2025 | -3.8% | -3.7% | 2.9% |
| 10/23/2024 | -4.5% | -4.5% | -17.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 14 | 15 |
| # Negative | 10 | 10 | 9 |
| Median Positive | 1.8% | 4.8% | 5.4% |
| Median Negative | -1.1% | -3.8% | -1.4% |
| Max Positive | 7.4% | 14.6% | 25.7% |
| Max Negative | -4.5% | -12.3% | -17.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 6.5% | 9.3% | 10.6% |
| 5/5/2026 | -4.0% | -12.3% | -1.2% |
| 2/26/2026 | 0.5% | -4.5% | -11.6% |
| 10/30/2025 | 3.2% | 0.4% | 5.2% |
| 7/31/2025 | 2.7% | 9.0% | 12.7% |
| 5/6/2025 | 0.4% | 3.3% | -3.4% |
| 2/24/2025 | -3.8% | -3.7% | 2.9% |
| 10/23/2024 | -4.5% | -4.5% | -17.5% |
| 7/24/2024 | 0.4% | 0.3% | 0.5% |
| 4/30/2024 | 1.0% | 3.6% | -0.1% |
| 2/20/2024 | 3.9% | 7.6% | 9.6% |
| 11/2/2023 | 0.7% | 4.3% | 5.4% |
| 7/27/2023 | 0.6% | -0.8% | -1.1% |
| 5/1/2023 | 4.3% | 3.2% | 3.7% |
| 2/16/2023 | 7.4% | 7.0% | -1.4% |
| 10/26/2022 | -0.9% | 5.4% | 12.9% |
| 8/2/2022 | -0.2% | -3.5% | -7.4% |
| 4/28/2022 | -1.1% | -5.1% | 0.1% |
| 2/22/2022 | 6.2% | 14.6% | 20.6% |
| 10/28/2021 | -1.6% | -2.8% | 5.5% |
| 7/29/2021 | -0.1% | -2.4% | 1.5% |
| 4/29/2021 | -1.1% | 1.3% | 1.9% |
| 2/22/2021 | -0.8% | -3.9% | -0.5% |
| 10/29/2020 | 0.9% | 8.4% | 25.7% |
| SUMMARY STATS | |||
| # Positive | 14 | 14 | 15 |
| # Negative | 10 | 10 | 9 |
| Median Positive | 1.8% | 4.8% | 5.4% |
| Median Negative | -1.1% | -3.8% | -1.4% |
| Max Positive | 7.4% | 14.6% | 25.7% |
| Max Negative | -4.5% | -12.3% | -17.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/04/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted operating cash flows | Reported | 560.00 Mil | 580.00 Mil | 600.00 Mil | 0 | Affirmed | Guidance: 580.00 Mil for 2026 | |
| 2026 Revenue | Reported | 7.90 Bil | 8.13 Bil | 8.36 Bil | 0 | Affirmed | Guidance: 8.13 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 980.00 Mil | 1.01 Bil | 1.04 Bil | 0 | Affirmed | Guidance: 1.01 Bil for 2026 | |
| 2026 Adjusted EPS | Reported | 3.87 | 4.04 | 4.22 | 0 | Affirmed | Guidance: 4.04 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted operating cash flows | Reported | 560.00 Mil | 580.00 Mil | 600.00 Mil | 0 | Affirmed | Guidance: 580.00 Mil for 2026 | |
| 2026 Revenue | Reported | 7.90 Bil | 8.13 Bil | 8.36 Bil | 0 | Affirmed | Guidance: 8.13 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 980.00 Mil | 1.01 Bil | 1.04 Bil | 0 | Affirmed | Guidance: 1.01 Bil for 2026 | |
| 2026 Adjusted EPS | Reported | 3.87 | 4.04 | 4.22 | -0.1% | Lowered | Guidance: 4.05 for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted Operating cash flows | Reported | 560.00 Mil | 580.00 Mil | 600.00 Mil | 10.5% | Higher New | Guidance: 525.00 Mil for 2025 | |
| 2026 Revenue | Reported | 7.90 Bil | 8.13 Bil | 8.36 Bil | 4.2% | Higher New | Guidance: 7.80 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 980.00 Mil | 1.01 Bil | 1.04 Bil | 4.1% | Higher New | Guidance: 970.00 Mil for 2025 | |
| 2026 Adjusted EPS | Reported | 3.87 | 4.05 | 4.22 | 5.7% | Higher New | Guidance: 3.83 for 2025 | |
| 2026 Capital expenditures | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | ||||
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Operating cash flows | Reported | 500.00 Mil | 525.00 Mil | 550.00 Mil | 0 | Affirmed | Guidance: 525.00 Mil for 2025 | |
| 2025 Revenue | Reported | 7.75 Bil | 7.80 Bil | 7.85 Bil | -2.5% | Lowered | Guidance: 8.00 Bil for 2025 | |
| 2025 Adjusted EBITDA | Reported | 960.00 Mil | 970.00 Mil | 980.00 Mil | 0 | Affirmed | Guidance: 970.00 Mil for 2025 | |
| 2025 Adjusted EPS | Reported | 3.78 | 3.83 | 3.88 | 0 | Affirmed | Guidance: 3.83 for 2025 | |
Insider Activity
Updated 8/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Moore, Jack B | Direct | Buy | 5212026 | 31.44 | 4,000 | 125,766 | 1,708,897 | Form | |
| 2 | Sabater, Carlos A | Direct | Buy | 5212026 | 32.47 | 14,500 | 470,815 | 1,159,351 | Form | |
| 3 | Von, Thaer Lewis | Direct | Buy | 5152026 | 30.77 | 3,000 | 92,310 | 318,716 | Form | |
| 4 | Evans, Shad E | EVP & Chief Financial Officer | Direct | Buy | 5152026 | 30.60 | 8,375 | 256,275 | 1,337,999 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Moore, Jack B | Direct | Buy | 5212026 | 31.44 | 4,000 | 125,766 | 1,708,897 | Form | |
| 2 | Sabater, Carlos A | Direct | Buy | 5212026 | 32.47 | 14,500 | 470,815 | 1,159,351 | Form | |
| 3 | Von, Thaer Lewis | Direct | Buy | 5152026 | 30.77 | 3,000 | 92,310 | 318,716 | Form | |
| 4 | Evans, Shad E | EVP & Chief Financial Officer | Direct | Buy | 5152026 | 30.60 | 8,375 | 256,275 | 1,337,999 | Form |
Investor Activity (13F)
Updated Sep 27, 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.
| Active Manager |
|---|
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
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| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/26/2026