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Engineering & construction · Industrials · Fiscal year ends Sep 30
AECOM reported revenue of $16.1B in the fiscal year ended Sep 2025, up 0.2% from the year before. Operating income was $1B, an operating margin of 6.4%, and net income was $562M. Operating cash flow of $822M less capital expenditure of $137M left free cash flow of $685M. Net debt was $1.1B.
Ranks among the 23 engineering & construction companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 13,341 | 13,148 | 14,378 | 16,105 | 16,140 |
| Cost of revenue | 12,542 | 12,300 | 13,433 | 15,021 | 14,923 |
| Gross profit | 798 | 848 | 945 | 1,084 | 1,217 |
| Operating income | 630 | 647 | 324 | 827 | 1,027 |
| Net interest incomeBanks | −238 | −110 | −159 | – | – |
| Interest expense | – | 110 | 159 | 185 | 184 |
| Pre-tax income | 409 | 551 | 213 | 718 | 916 |
| Income tax | 89.0 | 136 | 56.1 | 153 | 204 |
| Net income | 173 | 311 | 55.3 | 402 | 562 |
| Diluted EPS | 1.16 | 2.18 | 0.39 | 2.95 | 4.21 |
| Diluted shares | 150 | 143 | 140 | 136 | 133 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 1,229 | 1,172 | 1,260 | 1,581 | 1,586 |
| Receivables | 2,619 | 2,318 | 2,544 | 2,793 | 2,497 |
| Current assets | 6,174 | 5,823 | 6,170 | 7,056 | 6,730 |
| Net PP&E | 399 | 428 | 383 | 354 | 416 |
| Goodwill | 3,502 | 3,381 | 3,419 | 3,480 | 3,701 |
| Total assets | 11,734 | 11,139 | 11,233 | 12,062 | 12,200 |
| Payables | 2,090 | 2,027 | 2,191 | 2,560 | 2,261 |
| Deferred revenue | 1,059 | 1,051 | 1,189 | 1,298 | 1,088 |
| Current liabilities | 5,522 | 5,404 | 5,850 | 6,374 | 5,929 |
| Short-term debt | 53.8 | 48.6 | 89.5 | 66.9 | 66.3 |
| Long-term debt | 2,158 | 2,157 | 2,113 | 2,450 | 2,647 |
| Total liabilities | 8,904 | 8,534 | 8,850 | 9,691 | 9,504 |
| Shareholders' equity | 2,712 | 2,477 | 2,212 | 2,184 | 2,493 |
| Backlog (remaining obligations) | 18,700 | 20,800 | 21,900 | 19,800 | 19,700 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 705 | 714 | 696 | 827 | 822 |
| Capital expenditure | 136 | 137 | 106 | 120 | 137 |
| Free cash flow | 568 | 577 | 590 | 708 | 685 |
| Depreciation & amortisation | 176 | 171 | 176 | 179 | 176 |
| Stock-based compensation | 44.7 | 38.5 | 45.9 | 61.5 | 61.4 |
| Acquisitions | – | – | 0.0 | 18.7 | 213 |
| Share buybacks | 867 | 473 | 379 | 479 | 388 |
| Dividends paid | – | 63.3 | 96.2 | 115 | 134 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.4% | 9.4% | 12.0% | 0.2% |
| Operating income growth (YoY) | – | 2.7% | −49.9% | 155.3% | 24.1% |
| EPS growth (YoY) | – | 87.9% | −82.1% | 656.4% | 42.7% |
| Gross margin | 6.0% | 6.4% | 6.6% | 6.7% | 7.5% |
| Operating margin | 4.7% | 4.9% | 2.3% | 5.1% | 6.4% |
| Net margin | 1.3% | 2.4% | 0.4% | 2.5% | 3.5% |
| Return on equityBlank when equity is negative | 6.4% | 12.5% | 2.5% | 18.4% | 22.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 10.1% | 11.3% | 6.0% | 14.5% | 16.4% |
| Free cash flow margin | 4.3% | 4.4% | 4.1% | 4.4% | 4.2% |
| Cash conversion (CFO ÷ net income) | 4.07x | 2.30x | 12.6x | 2.06x | 1.46x |
| Receivable days | 72 | 64 | 65 | 63 | 56 |
| Payable days | 61 | 60 | 60 | 62 | 55 |
| Interest cover | – | 5.87x | 2.03x | 4.46x | 5.57x |
| Debt ÷ equity | 0.82x | 0.89x | 1.00x | 1.15x | 1.09x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 982 | 1,033 | 943 | 936 | 1,128 |
| Current ratio | 1.12x | 1.08x | 1.05x | 1.11x | 1.14x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.