ACM
AECOM
Next earnings Aug 3, 2026 · consensus $1.55 EPS, $2.08B rev
Last earnings -1.4% on 2026-05-11
$67.74
▼ -2.91%$67.74▼ -39.27%
over 1Y
L $67.74H $133.44
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-2.9%
1W-3.4%
1M-5.2%
3M-20.0%
YTD-29.3%
1Y-39.3%
Buy
Conviction
Horizon
Long (>12mo)
Street · 18 analysts
Buy
Infrastructure-engineering leader with expanding margins — net income +40%, 22.5% ROE — at a reasonable 16.3x EPS.
Net income $562M · FY2025
The read
Quality fundamentals and an attractive price line up (~124% below fair value) — the rarer case where both the business and the entry look good.
AECOM is a global infrastructure consulting and engineering firm executing well on a margin-expansion strategy. FY2025 revenue was flat at $16.1B, but the quality of earnings improved markedly: operating income rose 24.1% to $1.03B, gross margin expanded to 7.5%, and net income grew 39.7% to $562M (EPS $4.21, +42.7%). This is the right pattern for a professional-services firm — growing profit per dollar of revenue by shifting toward higher-value work and disciplined project selection — and it drives a strong 22.5% return on equity.
The model is capital-light: only $137M of capex against $822M of operating cash flow, leaving ample free cash for capital return. AECOM repurchased $388M of stock and raised its dividend 16% to $134M, while equity grew 14.1% to $2.49B. The high 3.81x liabilities/equity reflects the professional-services balance sheet (large payables/billings and modest debt) rather than financial distress, with $1.59B of cash on hand.
Is ACM a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread (wide)~90d expiry
- Long call 68 @ ~3.99 est
- Short call 78 @ ~0.95 est
debit $304max +$696max −$304BE 71.04
High-conviction BUY: a wider spread keeps more of the upside while the short call still cuts cost and decay.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $13.3B | $13.1B | $14.4B | $16.1B | $16.1B |
| Gross profit | $798M | $848M | $945M | $1.08B | $1.22B |
| Operating income | $630M | $647M | $324M | $827M | $1.03B |
| Net income | $173M | $311M | $55.3M | $402M | $562M |
| Diluted EPS | $1.16 | $2.18 | $0.39 | $2.95 | $4.21 |
| Net margin | 1.3% | 2.4% | 0.4% | 2.5% | 3.5% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$8.10B
EV / EBITDA6.7
EV / Sales0.5
EV / FCF11.8
P / FCF12.7
PEG (trailing)0.41
Earnings yield6.5%
FCF yield7.9%
Quality & risk
ROIC (est.)23.3%
Free cash flow$685M
Total debt$981M
Net cash$605M
Altman Z-Score2.09 grey
Piotroski F-Score7/9
Capital returns
Buyback yield4.5%
Dividend yield (est.)1.5%
Shareholder yield6.0%
Shares Δ YoY-0.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗11-KPeriod ending 2025-12-312026-06-26open ↗4Period ending 2026-06-162026-06-16open ↗8-KPeriod ending 2026-06-102026-06-11open ↗8-KPeriod ending 2026-06-032026-06-03open ↗4Period ending 2026-05-142026-05-14open ↗4Period ending 2026-05-142026-05-14open ↗10-QPeriod ending 2026-04-032026-05-12open ↗8-KPeriod ending 2026-05-112026-05-11open ↗SCHEDULE 13GFiling2026-04-29open ↗SCHEDULE 13G/AFiling2026-03-26open ↗8-KPeriod ending 2026-03-102026-03-10open ↗8-KPeriod ending 2026-03-032026-03-05open ↗
Frequently asked
- Is AECOM (ACM) a buy?
- ACM currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Infrastructure-engineering leader with expanding margins — net income +40%, 22.5% ROE — at a reasonable 16.3x EPS.
- What is ACM's fair value?
- A Modified-Graham model based on ACM's SEC fundamentals estimates a fair value of about $152.04. It is an estimate from reported earnings, not a price target.
- Is ACM overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, ACM currently appears undervalued relative to its SEC-grounded earnings power.
- What is AECOM's quality score?
- ACM scores 63.95358509609266/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000868857, latest 10-Q filed 2026-05-12) · EODHD · Proprietary analysis · as of 6/21/2026, 8:50:58 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:50 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.