Jacobs Solutions Inc.J
NYSE•Industrials•Engineering & Construction
Jacobs Solutions Inc. engages in the infrastructure and advanced facilities, and consulting businesses in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. The company provides consulting, planning, architecture, design, engineering, and infrastructure delivery services including project, program, and construction management and long-term operation of facilities. It also offers consulting services for consumer and manufacturing, defense and security, energy and utilities, financial services, government, health and life sciences, and transport sectors. The company was founded in 1947 and is headquartered in Dallas, Texas.
Jacobs Solutions Inc. (J) reported trailing twelve months revenue of $13.17B as of March 2026, a 47.8% increase year-over-year. Quarterly revenue reached $3.69B, reflecting continued top-line momentum.
Jacobs Solutions Inc. generated $381.48M in TTM net income, with quarterly EBITDA of $-81.18M. The operating margin contracted from 7.2% to -2.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-2.2%) and net margin (-1.2%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 0.2% a year ago, reflecting increased costs or interest expense.
J trades at a P/E of 39.8x (a premium multiple) and a P/S of 1.2x. The price-to-book ratio of 4.6x reflects a moderate premium to book value.
The company reported negative free cash flow of $-504.90M, indicating cash consumption over the period. The balance sheet shows $11.94B in total assets with $4.08B in long-term debt against $3.28B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 5.5%. The business may lack pricing power or face rising costs.'
ROE is positive at ~12.4% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 22.7% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Debt-to-equity has risen 82.5% recently — increasing financial risk even if the current ratio is manageable.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 6.3% — 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