AECOM ACM
We are a leading global provider of professional infrastructure consulting and advisory services for governments, businesses and organizations throughout the world. We provide advisory, planning, consulting, architectural and engineering design, construction and program management services, and investment and development services to public and private clients worldwide in major end markets such as transportation, facilities, water, environmental, and energy.
According to Engineering News-Record's (ENR's) 2025 Design Survey, we are the largest general architectural and engineering design firm in the world, ranked by 2024 design revenue, and we are the number one ranked water, transportation design, facilities design, environmental engineering, environmental consulting and environmental science firm in the world. In addition, we are ranked by ENR as the leading firm in a number of design end markets, including several water infrastructure-related markets. We utilize our scale and the technical strength of our workforce to create innovative solutions for our clients. Clients are increasingly seeking our technical expertise to solve the world's most complex and large scale infrastructure related challenges. Aging infrastructure, increasing urbanization, and growing energy demand create growth secular tailwinds for our markets. Our global network of technical experts, combined with our ability to advise, consult, design, and deliver program management services creates a competitive advantage. Our scale also creates the capacity for investment in digital capabilities that further enhance our delivery capabilities and value proposition.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.14B | $16.11B | $14.38B | $13.15B | $13.34B | $13.24B | $13.64B | $13.88B | $18.20B | $17.41B |
| Cost of revenue | $14.92B | $15.02B | $13.43B | $12.30B | $12.54B | $12.53B | $13.03B | $13.40B | $17.52B | $16.77B |
| Gross profit | $1.22B | $1.08B | $945.5M | $848.0M | $798.4M | $709.6M | $611.7M | $479.0M | $683.7M | $642.8M |
| SG&A | $157.8M | $160.1M | $153.6M | $147.3M | $155.1M | $188.5M | $148.1M | $135.8M | $133.3M | $115.1M |
| Operating income | $1.03B | $827.4M | $324.1M | $646.8M | $629.6M | $381.5M | $396.1M | $392.6M | $653.9M | $375.5M |
| Interest expense | $184.3M | $185.4M | $159.3M | $110.3M | $238.4M | $159.9M | $161.5M | $201.0M | $231.3M | $258.2M |
| Pre-tax income | $915.6M | $718.2M | $213.4M | $550.7M | $408.8M | $232.6M | $249.2M | $212.2M | $429.2M | $125.6M |
| Income tax | $204.0M | $152.9M | $56.1M | $136.1M | $89.0M | $45.8M | $13.5M | $3.5M | $7.7M | $37.9M |
| Net income | $561.8M | $402.3M | $55.3M | $310.6M | $173.2M | -$186.4M | -$261.1M | $136.5M | $339.4M | $96.1M |
| EPS, basic | 4.24 | 2.97 | 0.40 | 2.21 | 1.18 | -1.17 | -1.66 | 0.86 | 2.18 | 0.62 |
| EPS, diluted | 4.21 | 2.95 | 0.39 | 2.18 | 1.16 | -1.16 | -1.63 | 0.84 | 2.13 | 0.62 |
| Shares, diluted (wtd. avg.) | $133.3M | $136.5M | $140.1M | $142.7M | $149.7M | $161.3M | $159.7M | $162.3M | $159.1M | $156.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.59B | $1.58B | $1.26B | $1.18B | $1.23B | $1.82B | $1.08B | $886.7M | $802.4M | $692.1M |
| Receivables | $2.50B | $2.79B | $2.54B | $2.32B | $2.62B | $2.92B | $2.87B | $3.31B | $5.13B | $4.53B |
| Total current assets | $6.73B | $7.06B | $6.17B | $5.82B | $6.17B | $7.53B | $7.53B | $7.13B | $6.68B | $6.00B |
| Property, plant and equipment | $416.2M | $354.4M | $382.6M | $428.2M | $398.9M | $381.7M | $405.6M | $614.1M | $621.4M | $645.0M |
| Goodwill | $3.70B | $3.48B | $3.42B | $3.38B | $3.50B | $3.48B | $3.48B | $5.92B | $5.99B | $5.82B |
| Other intangibles | $183.3M | $6.9M | $17.8M | $35.6M | $54.9M | $76.9M | $99.6M | $319.9M | $415.1M | $479.4M |
| Total assets | $12.20B | $12.06B | $11.23B | $11.14B | $11.73B | $13.00B | $14.55B | $14.68B | $14.40B | $13.67B |
| Accounts payable | $2.26B | $2.56B | $2.19B | $2.03B | $2.09B | $2.36B | $2.41B | $2.73B | $2.25B | $1.91B |
| Short-term debt | $66.3M | $66.9M | $89.5M | $48.6M | $53.8M | $20.9M | $98.3M | $143.1M | $142.0M | $366.3M |
| Total current liabilities | $5.93B | $6.37B | $5.85B | $5.40B | $5.52B | $6.09B | $6.46B | $6.13B | $5.58B | $5.30B |
| Total liabilities | $9.50B | $9.69B | $8.85B | $8.53B | $8.90B | $9.59B | $10.65B | $10.40B | $10.18B | $10.12B |
| Retained earnings | -$1.22B | -$1.28B | -$1.10B | -$701.7M | -$504.1M | $174.2M | $599.5M | $948.1M | $961.6M | $618.4M |
| Total equity | $2.49B | $2.18B | $2.38B | $2.61B | $2.83B | $3.41B | $3.90B | $4.28B | $4.21B | $3.55B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $821.6M | $827.5M | $696.0M | $713.6M | $704.7M | $329.6M | $777.6M | $774.6M | $696.7M | $814.2M |
| Depreciation and amortisation | $175.9M | $178.8M | $175.7M | $170.9M | $176.4M | $237.4M | $261.2M | $267.6M | $278.6M | $398.7M |
| Stock-based compensation | $61.4M | $61.5M | $45.9M | $38.5M | $44.7M | $54.2M | $63.8M | $73.1M | $83.8M | $73.4M |
| Capital expenditure | $136.7M | $119.6M | $105.6M | $137.0M | $136.3M | $114.6M | $100.7M | $113.3M | $86.4M | $191.4M |
| Investing cash flow | -$413.2M | -$210.6M | -$138.2M | -$175.0M | -$421.1M | $2.04B | -$146.8M | -$59.1M | -$202.7M | -$162.6M |
| Financing cash flow | -$403.7M | -$295.5M | -$472.9M | -$588.3M | -$872.5M | -$1.63B | -$433.3M | -$624.9M | -$386.5M | -$638.0M |
| Dividends paid | $133.6M | $115.2M | $96.2M | $63.3M | — | — | — | — | — | — |
| Buybacks | $388.4M | $478.5M | $379.3M | $473.0M | $867.1M | $187.0M | $98.2M | $179.5M | $25.1M | $25.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000868857-25-000013.
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