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Jacobs Solutions

J NYSE Construction & Engineering Financials FY2016–FY2025

Jacobs Solutions' revenue rose 4.6% to $12.0 billion in fiscal 2025. Its operating margin was 7.2%, up from 6.0% a year earlier. Free cash flow was $607 million, down 34.9%. It paid out $907 million in dividends and buybacks, 149% of free cash flow. The diluted share count fell 3.1%.

Last close · Oct 23, 2026

$145.06

0.8%
Value it Compare
Revenue Total sales reported in the income statement.
$12.0B
4.6% vs prior year
Operating margin Operating income as a share of revenue.
7.2%
1.2 pts
Net income Profit after all expenses, interest and tax.
$289M
64.1%
Free cash flow Cash from operations minus capital spending.
$607M
34.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
10.1%
2.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$17.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
50.9x
On $2.85 EPS (TTM)

What Jacobs Solutions does

No business description yet.

Legal name
JACOBS SOLUTIONS INC.
Fiscal year ends
September 26, 2025
Latest annual report
—
Accession · CIK
0001628280-25-053316
0000052988

Revenue and margins

Jacobs Solutions had $12.0B of revenue in fiscal 2025, up 4.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 3.6% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $607M in fiscal 2025, 5.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Jacobs Solutions returned $907M to shareholders in fiscal 2025, 149% of free cash flow. The diluted share count fell 3.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Jacobs Solutions yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.0B and divides by 121.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 50.9x · peers 27.3x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Jacobs Solutions can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.0B$1.1B$771M$1.1B$1.2B
Debt incl. finance leases $2.9B$3.4B$2.9B$2.2B$2.2B
Net debt / EBITDA 2.4x3.5x2.7x1.4x1.1x
Debt / equity 0.5x0.6x0.4x0.5x0.6x
Interest coverage 9.5x5.4x4.0x4.1x5.9x
Current ratio 1.3x1.5x1.4x1.2x1.3x
Quick ratio 1.3x1.5x1.4x1.2x1.3x
Total assets $14.6B$14.7B$14.6B$11.8B$11.3B
Total liabilities $8.7B$8.6B$8.0B$7.2B$7.6B
Shareholders' equity $5.9B$6.1B$6.5B$4.5B$3.6B
Net debt (− = net cash) $1.9B$2.3B$2.1B$1.1B$1.0B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.8M

4 insiders

Sold, 12 months

$2.7M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 7, 2026 Patrick HillPresident Sold 17,201 $144.10 $2.5M Form 4
May 15, 2026 Robert Pragada VChair & CEO, Director Bought 3,601 $111.09 $0.4M Form 4
May 13, 2026 Manuel J FernandezDirector Bought 253 $112.56 $0.0M Form 4
May 8, 2026 Manuel J FernandezDirector Bought 403 $121.93 $0.0M Form 4
Mar 6, 2026 Shannon MillerPresident Sold 1,440 $134.13 $0.2M Form 4
Nov 24, 2025 Manuel J FernandezDirector Bought 763 $130.78 $0.1M Form 4
Nov 24, 2025 Peter J RobertsonDirector Bought 1,000 $134.76 $0.1M Form 4
Nov 24, 2025 Venkatesh NathamuniChief Financial Officer Bought 750 $135.11 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✕ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 7 / 97 / 97 / 9
Accruals ratio −2.1%−1.9%−3.5%
Altman Z'' 2.762.172.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Jacobs Solutions J $17.2B 4.6% 7.2% 5.1% 10.1% 50.9x 7
MasTec MTZ $13.5B 16.2% — 2.0% 11.2% 27.3x 7 Compare →
Fluor FLR $6.2B −5.0% −2.4% −2.8% −13.9% — 3 Compare →
Comfort Systems USA FIX $40.9B 29.5% 14.4% 11.3% 73.3% 25.1x 7 Compare →
AECOM ACM $7.8B 0.2% 6.4% 4.2% 22.4% 27.7x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $11.0B $10.0B $15.0B $12.7B $13.6B $14.1B $9.8B $10.9B $11.5B $12.0B
Gross profit $1.8B $1.3B $2.2B $2.5B $2.6B $3.0B $2.6B $2.7B $2.8B $3.0B
Operating income $339M $244M $387M $405M $536M $688M $540M $677M $692M $864M
Interest expense $15.3M $12.0M $76.8M $83.9M $62.2M $72.7M $100M $168M $169M $146M
Pretax income $287M $243M $331M $351M $441M $696M $478M $521M $777M $544M
Income tax $72.2M $73.1M $326M $37.0M $55.3M $275M $66.3M $101M $132M $216M
Net income $211M $294M $163M $848M $492M $477M $644M $666M $806M $289M
Diluted EPS $1.73 $2.42 $1.18 $6.08 $3.71 $3.20 $4.98 $5.30 $6.32 $2.38
Diluted shares 0.12B 0.12B 0.14B 0.14B 0.13B 0.13B 0.13B 0.13B 0.13B 0.12B
Cash flow
Cash from operations $680M $575M $481M −$366M $807M $726M $475M $975M $1.1B $687M
Capital expenditure $67.7M $118M $94.9M $136M $118M $92.8M $128M $138M $121M $79.2M
Free cash flow $612M $457M $386M −$502M $689M $633M $347M $837M $934M $607M
Depreciation and amortization $82.4M $76.4M $118M $90.2M $91.1M $101M $103M $103M $99.2M $82.1M
Stock-based compensation $32.4M $38.8M $79.2M $69.1M $48.1M $56.2M $53.4M $74.3M $74.2M $61.0M
Acquisitions $49.9M $150M $1.5B $575M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $153M $97.2M $3.0M $854M $337M $275M $282M $266M $403M $754M
Dividends paid $5.9M $58.8M $86.6M $106M $97.9M $107M $116M $128M $143M $153M
Dividends and buybacks $158M $156M $89.6M $960M $435M $382M $398M $394M $545M $907M
Balance sheet
Cash and short-term investments $656M $608M $635M $631M $862M $1.0B $1.1B $771M $1.1B $1.2B
Total debt $385M $235M $2.1B $1.2B $1.7B $2.9B $3.4B $2.9B $2.2B $2.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $2.9B $3.0B $4.6B $4.1B $4.5B $4.3B $4.7B $4.7B $4.9B $4.4B
Current liabilities $1.8B $1.9B $3.1B $3.1B $2.9B $3.2B $3.3B $3.4B $4.1B $3.4B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $320M $350M $258M $308M $319M $353M $347M $280M $316M $312M
Total assets $7.4B $7.4B $12.6B $11.5B $12.4B $14.6B $14.7B $14.6B $11.8B $11.3B
Total liabilities $3.0B $2.9B $6.7B $5.7B $6.5B $8.7B $8.6B $8.0B $7.2B $7.6B
Shareholders' equity $4.3B $4.4B $5.9B $5.7B $5.8B $5.9B $6.1B $6.5B $4.5B $3.6B
Margins
Gross margin 16.1% 12.6% 14.4% 19.5% 19.1% 21.6% 26.4% 25.0% 24.6% 24.8%
Operating margin 3.1% 2.4% 2.6% 3.2% 4.0% 4.9% 5.5% 6.2% 6.0% 7.2%
EBITDA margin 3.8% 3.2% 3.4% 3.9% 4.6% 5.6% 6.6% 7.2% 6.9% 7.9%
Net margin 1.9% 2.9% 1.1% 6.7% 3.6% 3.4% 6.6% 6.1% 7.0% 2.4%
FCF margin 5.6% 4.6% 2.6% −3.9% 5.1% 4.5% 3.6% 7.7% 8.1% 5.1%
Returns
Return on capital 5.9% 4.2% 3.4% 5.3% 7.2% 5.7% 5.7% 6.4% 8.0% 10.1%
Return on capital employed 6.0% 4.4% 5.2% 4.5% 6.0% 6.6% 4.7% 6.0% 7.3% 11.1%
Return on equity 4.9% 6.8% 3.2% 14.7% 8.5% 8.1% 10.7% 10.6% 14.5% 7.1%
Return on assets 2.8% 4.0% 1.6% 7.0% 4.1% 3.5% 4.4% 4.6% 6.1% 2.5%
Growth
Revenue growth −9.5% −8.6% 49.5% −15.0% 6.5% 3.9% −30.6% 10.9% 6.0% 4.6%
Net income growth −30.5% 39.6% −44.4% 418.9% −42.0% −3.0% 35.0% 3.4% 21.1% −64.1%
EPS growth −27.9% 39.9% −51.2% 415.3% −39.0% −13.8% 55.6% 6.4% 19.3% −62.3%
FCF growth 54.6% −25.4% −15.4% −230.1% — −8.0% −45.2% 141.2% 11.5% −34.9%
Share count change −3.7% −1.1% 14.5% 1.2% −4.7% −1.1% −1.4% −1.7% −1.1% −3.1%
Financial health
Net debt / EBITDA −0.6x −1.2x 3.0x 1.2x 1.3x 2.4x 3.5x 2.7x 1.4x 1.1x
Debt / equity 0.1x 0.1x 0.4x 0.2x 0.3x 0.5x 0.6x 0.4x 0.5x 0.6x
Interest coverage 22.2x 20.3x 5.1x 4.8x 8.6x 9.5x 5.4x 4.0x 4.1x 5.9x
Current ratio 1.6x 1.6x 1.5x 1.3x 1.5x 1.3x 1.5x 1.4x 1.2x 1.3x
Quick ratio 1.6x 1.6x 1.5x 1.3x 1.5x 1.3x 1.5x 1.4x 1.2x 1.3x
Capital allocation
Capex / revenue 0.6% 1.2% 0.6% 1.1% 0.9% 0.7% 1.3% 1.3% 1.1% 0.7%
Stock comp / revenue 0.3% 0.4% 0.5% 0.5% 0.4% 0.4% 0.6% 0.7% 0.7% 0.5%
Payouts / FCF 25.9% 34.1% 23.2% — 63.2% 60.3% 114.6% 47.1% 58.4% 149.3%
Quality scores
Piotroski F-score 6.0 6.0 5.0 4.0 6.0 5.0 6.0 7.0 7.0 7.0
Altman Z'' 4.4 4.5 2.9 3.0 3.2 2.4 2.6 2.8 2.2 2.1
Accruals ratio −6.2% −3.8% −3.2% 10.1% −2.7% −1.9% 1.2% −2.1% −1.9% −3.5%

Source: SEC EDGAR XBRL filings (CIK 0000052988). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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