AECOM vs Quanta Services
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The short version
- Quanta Services is the larger business, with $28.5B of revenue in fiscal 2025 against $16.1B for AECOM, about 1.8 times as much.
- Quanta Services grew revenue faster (20.3%, against 0.2%).
- AECOM kept more of each dollar of sales as operating profit (6.4% operating margin, against 5.7%).
- Quanta Services turned more of its sales into free cash flow (5.7% FCF margin, against 4.2%).
- AECOM earned a higher return on the capital invested in it (22.4%, against 9.5%).
- Investors pay more for each dollar of Quanta Services’s earnings: a P/E of 62.6x against 27.7x for AECOM.
| Latest fiscal year | ACM · FY25 | PWR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.8B | $83.3B |
| Revenue | $16.1B | $28.5B |
| Free cash flow | $685M | $1.6B |
| Net income | $562M | $1.0B |
| Growth | ||
| Revenue growth | 0.2% | 20.3% |
| 5-year growth | 4.0% | 20.5% |
| Share count change | −2.3% | 0.8% |
| Profitability | ||
| Gross margin | 7.5% | 15.0% |
| Operating margin | 6.4% | 5.7% |
| Net margin | 3.5% | 3.6% |
| FCF margin | 4.2% | 5.7% |
| Return on capital | 22.4% | 9.5% |
| Return on equity | 24.0% | 12.7% |
| Balance sheet | ||
| Net debt | $1.1B | $5.6B |
| Net debt / EBITDA | 0.9x | 2.2x |
| Dividends and buybacks | $522M | $195M |
| Valuation & quality | ||
| P/E | 27.7x | 62.6x |
| Piotroski F-score | 7 | 5 |
Revenue
FY16
ACM —
PWR $7.7B
FY17
ACM $18.2B
PWR $9.5B
FY18
ACM $13.9B
PWR $11.2B
FY19
ACM $13.6B
PWR $12.1B
FY20
ACM $13.2B
PWR $11.2B
FY21
ACM $13.3B
PWR $13.0B
FY22
ACM $13.1B
PWR $17.1B
FY23
ACM $14.4B
PWR $20.9B
FY24
ACM $16.1B
PWR $23.7B
FY25
ACM $16.1B
PWR $28.5B
ACM
PWR
Operating margin
FY16
ACM —
PWR 4.2%
FY17
ACM 3.6%
PWR 4.0%
FY18
ACM 2.8%
PWR 4.8%
FY19
ACM 2.9%
PWR 4.6%
FY20
ACM 2.9%
PWR 5.5%
FY21
ACM 4.7%
PWR 5.1%
FY22
ACM 4.9%
PWR 5.1%
FY23
ACM 2.3%
PWR 5.4%
FY24
ACM 5.1%
PWR 5.7%
FY25
ACM 6.4%
PWR 5.7%
ACM
PWR
Free cash flow
FY16
ACM $623M
PWR $178M
FY17
ACM $610M
PWR $127M
FY18
ACM $661M
PWR $65.2M
FY19
ACM $677M
PWR $265M
FY20
ACM $215M
PWR $856M
FY21
ACM $568M
PWR $197M
FY22
ACM $577M
PWR $703M
FY23
ACM $590M
PWR $1.1B
FY24
ACM $708M
PWR $1.5B
FY25
ACM $685M
PWR $1.6B
ACM
PWR
Return on capital
FY16
ACM 5.2%
PWR 5.9%
FY17
ACM 9.1%
PWR 8.6%
FY18
ACM 5.5%
PWR 7.8%
FY19
ACM 5.6%
PWR 8.0%
FY20
ACM 6.1%
PWR 9.1%
FY21
ACM 13.0%
PWR 7.5%
FY22
ACM 13.1%
PWR 7.3%
FY23
ACM 6.9%
PWR 9.8%
FY24
ACM 19.6%
PWR 10.3%
FY25
ACM 22.4%
PWR 9.5%
ACM
PWR
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.