AECOM vs Fluor
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The short version
- AECOM is the larger business, with $16.1B of revenue in fiscal 2025 against $15.5B for Fluor.
- AECOM grew revenue faster (0.2%, against −5.0%).
- AECOM kept more of each dollar of sales as operating profit (6.4% operating margin, against −2.4%).
- AECOM turned more of its sales into free cash flow (4.2% FCF margin, against −2.8%).
- AECOM earned a higher return on the capital invested in it (22.4%, against −13.9%).
| Latest fiscal year | ACM · FY25 | FLR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.8B | $6.2B |
| Revenue | $16.1B | $15.5B |
| Free cash flow | $685M | −$437M |
| Net income | $562M | −$51.0M |
| Growth | ||
| Revenue growth | 0.2% | −5.0% |
| 5-year growth | 4.0% | −0.4% |
| Share count change | −2.3% | −5.8% |
| Profitability | ||
| Gross margin | 7.5% | −0.8% |
| Operating margin | 6.4% | −2.4% |
| Net margin | 3.5% | −0.3% |
| FCF margin | 4.2% | −2.8% |
| Return on capital | 22.4% | −13.9% |
| Return on equity | 24.0% | −1.4% |
| Balance sheet | ||
| Net debt | $1.1B | −$1.1B |
| Net debt / EBITDA | 0.9x | — |
| Dividends and buybacks | $522M | $754M |
| Valuation & quality | ||
| P/E | 27.7x | — |
| Piotroski F-score | 7 | 3 |
Revenue
FY16
ACM —
FLR $19.0B
FY17
ACM $18.2B
FLR $14.8B
FY18
ACM $13.9B
FLR $18.9B
FY19
ACM $13.6B
FLR $15.5B
FY20
ACM $13.2B
FLR $15.8B
FY21
ACM $13.3B
FLR $14.2B
FY22
ACM $13.1B
FLR $13.7B
FY23
ACM $14.4B
FLR $15.5B
FY24
ACM $16.1B
FLR $16.3B
FY25
ACM $16.1B
FLR $15.5B
ACM
FLR
Operating margin
FY16
ACM —
FLR —
FY17
ACM 3.6%
FLR 1.4%
FY18
ACM 2.8%
FLR 2.7%
FY19
ACM 2.9%
FLR −5.4%
FY20
ACM 2.9%
FLR −1.5%
FY21
ACM 4.7%
FLR −1.9%
FY22
ACM 4.9%
FLR 1.5%
FY23
ACM 2.3%
FLR 1.0%
FY24
ACM 5.1%
FLR 2.8%
FY25
ACM 6.4%
FLR −2.4%
ACM
FLR
Free cash flow
FY16
ACM $623M
FLR $470M
FY17
ACM $610M
FLR $319M
FY18
ACM $661M
FLR −$48.8M
FY19
ACM $677M
FLR $38.2M
FY20
ACM $215M
FLR $73.0M
FY21
ACM $568M
FLR −$50.0M
FY22
ACM $577M
FLR −$44.0M
FY23
ACM $590M
FLR $106M
FY24
ACM $708M
FLR $664M
FY25
ACM $685M
FLR −$437M
ACM
FLR
Return on capital
FY16
ACM 5.2%
FLR 15.7%
FY17
ACM 9.1%
FLR 5.1%
FY18
ACM 5.5%
FLR 9.8%
FY19
ACM 5.6%
FLR −33.1%
FY20
ACM 6.1%
FLR −18.2%
FY21
ACM 13.0%
FLR —
FY22
ACM 13.1%
FLR —
FY23
ACM 6.9%
FLR —
FY24
ACM 19.6%
FLR 25.7%
FY25
ACM 22.4%
FLR −13.9%
ACM
FLR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.