AECOMACM
NYSE•Industrials•Engineering & Construction
AECOM, together with its subsidiaries, provides professional infrastructure consulting services for governments, businesses, and organizations internationally. The company operates in three segments: Americas, International, and AECOM Capital. The company offers advisory, planning, consulting, architectural and engineering design, construction and program management services, and investment and development services to public and private clients in major end markets such as transportation, facilities, water, environmental, and energy. It is also involved in the investment and development of real estate projects. The company was formerly known as AECOM Technology Corporation and changed its name to AECOM in January 2015. AECOM was incorporated in 1980 and is headquartered in Dallas, Texas.
AECOM (ACM) reported trailing twelve months revenue of $16.14B as of September 2025, a 0.2% increase year-over-year. Quarterly revenue reached $4.18B, reflecting continued top-line momentum.
AECOM generated $561.77M in TTM net income, with quarterly EBITDA of $284.92M. The operating margin contracted from 5.8% to 5.7%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (5.7%) and net margin (2.9%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 4.2% a year ago, reflecting increased costs or interest expense.
ACM trades at a P/E of 30.6x (a premium multiple) and a P/S of 1.1x. The price-to-book ratio of 6.9x indicates a significant premium over book value.
The company generated $134.09M in free cash flow over the trailing twelve months, a 51.1% decrease year-over-year, indicating cash generation ability. The balance sheet shows $12.20B in total assets with $2.65B in long-term debt against $2.49B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~5.7% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE averages 15.9% but has fluctuated — the competitive advantage may be cyclical or emerging.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~8.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~6.4% — no sign of cost or pricing stress.
FCF covers net income by 10.4x on average — earnings are well-supported by cash generation.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.7% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation