Jacobs Solutions
J · NYSEHeavy Construction Other Than Bldg Const - Contractors · Fiscal year ends Oct 2
Jacobs Solutions reported revenue of $12B in the fiscal year ended Sep 2025, up 4.6% from the year before. Operating income was $864M, an operating margin of 7.2%, and net income was $289M. Operating cash flow of $687M less capital expenditure of $79M left free cash flow of $607M. Net debt was $1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $14.1B | $9.8B | $10.9B | $11.5B | $12B |
| Cost of revenue | $11B | $7.2B | $8.1B | $8.7B | $9B |
| Gross profit | $3B | $2.6B | $2.7B | $2.8B | $3B |
| Selling, general & admin | $2.4B | $2B | $2B | $2.1B | $2.1B |
| Operating income | $688M | $540M | $676M | $692M | $864M |
| Interest expense | $73M | $100M | $168M | $169M | $146M |
| Pre-tax income | $696M | $477M | $521M | $777M | $543M |
| Income tax | $275M | $66M | $101M | $131M | $216M |
| Net income | $477M | $644M | $666M | $806M | $289M |
| Diluted EPS | 3.20 | 4.98 | 5.30 | 6.32 | 2.38 |
| Diluted shares | 131M | 129M | 127M | 126M | 122M |
Balance sheet
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1B | $1.1B | $771M | $1.1B | $1.2B |
| Receivables | $3.1B | $3.4B | $2.4B | $2.8B | $3B |
| Current assets | $4.3B | $4.7B | $4.7B | $4.9B | $4.4B |
| Net PP&E | $353M | $347M | $280M | $316M | $312M |
| Goodwill | $7.2B | $7.2B | $4.6B | $4.8B | $4.8B |
| Total assets | $14.6B | $14.7B | $14.6B | $11.8B | $11.3B |
| Payables | $908M | $967M | $922M | $1B | $1.3B |
| Deferred revenue | $542M | $642M | $709M | $967M | $941M |
| Current liabilities | $3.2B | $3.3B | $3.4B | $4.1B | $3.4B |
| Short-term debt | $53M | $50M | $52M | $870M | $0 |
| Long-term debt | $2.8B | $3.4B | $2.8B | $1.3B | $2.2B |
| Shareholders' equity | $5.9B | $6.1B | $6.5B | $4.5B | $3.6B |
| Backlog (remaining obligations) | – | – | – | $13.7B | $15.7B |
Cash flow
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $726M | $475M | $975M | $1.1B | $687M |
| Capital expenditure | $93M | $128M | $137M | $121M | $79M |
| Free cash flow | $633M | $347M | $837M | $934M | $607M |
| Depreciation & amortisation | $101M | $102M | $103M | $99M | $82M |
| Stock-based compensation | $56M | $53M | $74M | $74M | $61M |
| Share buybacks | $275M | $282M | $266M | $403M | $754M |
| Dividends paid | $107M | $116M | $128M | $143M | $153M |
| Dividend per share | – | – | 0.26 | – | – |
Key ratios
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −30.6% | 10.9% | 6.0% | 4.6% |
| Operating income growth (YoY) | – | −21.5% | 25.3% | 2.4% | 24.7% |
| EPS growth (YoY) | – | 55.6% | 6.4% | 19.2% | −62.3% |
| Gross margin | 21.6% | 26.4% | 25.0% | 24.6% | 24.8% |
| Operating margin | 4.9% | 5.5% | 6.2% | 6.0% | 7.2% |
| Net margin | 3.4% | 6.6% | 6.1% | 7.0% | 2.4% |
| Return on equityBlank when equity is negative | 8.0% | 10.6% | 10.2% | 17.7% | 7.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.0% | 4.7% | 6.0% | 9.0% | 10.9% |
| Free cash flow margin | 4.5% | 3.5% | 7.7% | 8.1% | 5.0% |
| Cash conversion (CFO ÷ net income) | 1.52x | 0.74x | 1.46x | 1.31x | 2.37x |
| Receivable days | 80 | 127 | 82 | 90 | 91 |
| Payable days | 30 | 49 | 41 | 43 | 51 |
| Interest cover | 9.46x | 5.39x | 4.02x | 4.10x | 5.92x |
| Debt ÷ equity | 0.49x | 0.56x | 0.44x | 0.49x | 0.61x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.9B | $2.3B | $2.1B | $1.1B | $1B |
| Current ratio | 1.34x | 1.45x | 1.37x | 1.20x | 1.30x |
Recent filings
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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.