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Engineering & construction · Industrials · Fiscal year ends Jan 1
KBR reported revenue of $7.8B in the fiscal year ended Jan 2026, up 1.0% from the year before. Operating income was $778M, an operating margin of 10.0%, and net income was $415M. Operating cash flow of $557M less capital expenditure of $42M left free cash flow of $515M. Net debt was $2.1B.
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 | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 7,339 | 6,564 | 6,956 | 7,710 | 7,786 |
| Cost of revenue | 6,533 | 5,736 | 5,979 | 6,611 | 6,636 |
| Gross profit | 806 | 828 | 977 | 1,099 | 1,150 |
| Selling, general & admin | 393 | 420 | 487 | 543 | 578 |
| Operating income | 231 | 343 | 449 | 659 | 778 |
| Interest expense | 80.0 | 87.0 | 115 | 144 | 158 |
| Pre-tax income | 146 | 284 | −165 | 508 | 614 |
| Income tax | 111 | 92.0 | 95.0 | 129 | 156 |
| Net income | 27.0 | 190 | −265 | 375 | 415 |
| Diluted EPS | 0.19 | 1.26 | −1.96 | 2.79 | 3.21 |
| Diluted shares | 141 | 156 | 135 | 134 | 129 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 370 | 389 | 304 | 342 | 500 |
| Receivables | 1,411 | 942 | 981 | 1,066 | 1,086 |
| Current assets | 2,152 | 1,747 | 1,651 | 1,873 | 2,051 |
| Net PP&E | 136 | 182 | 239 | 237 | 232 |
| Goodwill | 2,060 | 2,087 | 2,109 | 2,630 | 2,677 |
| Total assets | 6,204 | 5,566 | 5,565 | 6,663 | 6,584 |
| Payables | 1,026 | 637 | 593 | 772 | 712 |
| Deferred revenue | 313 | 275 | 359 | 328 | 331 |
| Current liabilities | 1,875 | 1,821 | 1,572 | 1,782 | 1,688 |
| Short-term debt | 16.0 | 364 | 31.0 | 36.0 | 49.0 |
| Long-term debt | 1,875 | 1,376 | 1,801 | 2,533 | 2,547 |
| Total liabilities | 4,521 | 3,934 | 4,171 | 5,196 | 5,072 |
| Shareholders' equity | 1,669 | 1,620 | 1,383 | 1,453 | 1,503 |
| Backlog (remaining obligations) | 11,700 | 11,200 | 12,700 | 13,800 | 13,300 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 278 | 396 | 331 | 462 | 557 |
| Capital expenditure | 30.0 | 71.0 | 62.0 | 52.0 | 42.0 |
| Free cash flow | 248 | 325 | 269 | 410 | 515 |
| Depreciation & amortisation | 146 | 137 | 141 | 156 | 169 |
| Stock-based compensation | 12.0 | – | – | – | – |
| Acquisitions | 399 | 73.0 | 0.0 | 738 | 14.0 |
| Share buybacks | 82.0 | 203 | 138 | 218 | 329 |
| Dividends paid | 61.0 | 66.0 | 72.0 | 79.0 | 84.0 |
| Dividend per share | 0.44 | 0.48 | 0.54 | 0.60 | 0.66 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −10.6% | 6.0% | 10.8% | 1.0% |
| Operating income growth (YoY) | – | 48.5% | 30.9% | 46.8% | 18.1% |
| EPS growth (YoY) | – | 563.2% | −255.6% | – | 15.1% |
| Gross margin | 11.0% | 12.6% | 14.0% | 14.3% | 14.8% |
| Operating margin | 3.1% | 5.2% | 6.5% | 8.5% | 10.0% |
| Net margin | 0.4% | 2.9% | −3.8% | 4.9% | 5.3% |
| Return on equityBlank when equity is negative | 1.6% | 11.7% | −19.2% | 25.8% | 27.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 5.3% | 9.2% | 11.2% | 13.5% | 15.9% |
| Free cash flow margin | 3.4% | 5.0% | 3.9% | 5.3% | 6.6% |
| Cash conversion (CFO ÷ net income) | 10.3x | 2.08x | −1.25x | 1.23x | 1.34x |
| Receivable days | 70 | 52 | 51 | 50 | 51 |
| Payable days | 57 | 41 | 36 | 43 | 39 |
| Interest cover | 2.89x | 3.94x | 3.90x | 4.58x | 4.92x |
| Debt ÷ equity | 1.13x | 1.07x | 1.32x | 1.77x | 1.73x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,521 | 1,351 | 1,528 | 2,227 | 2,096 |
| Current ratio | 1.15x | 0.96x | 1.05x | 1.05x | 1.22x |
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.