KBR vs RB Global
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The short version
- KBR is the larger business, with $7.8B of revenue in fiscal 2025 against $4.6B for RB Global, about 1.7 times as much.
- RB Global grew revenue faster (7.2%, against 1.0%).
- RB Global kept more of each dollar of sales as operating profit (15.5% operating margin, against 10.0%).
- RB Global turned more of its sales into free cash flow (15.7% FCF margin, against 6.6%).
- KBR earned a higher return on the capital invested in it (15.8%, against 7.6%).
- Investors pay more for each dollar of RB Global’s earnings: a P/E of 36.3x against 11.8x for KBR.
| Latest fiscal year | KBR · FY25 | RBA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.0B | $15.7B |
| Revenue | $7.8B | $4.6B |
| Free cash flow | $515M | $719M |
| Net income | $415M | $428M |
| Growth | ||
| Revenue growth | 1.0% | 7.2% |
| 5-year growth | 6.2% | 27.2% |
| Share count change | −3.7% | 0.9% |
| Profitability | ||
| Gross margin | 14.8% | — |
| Operating margin | 10.0% | 15.5% |
| Net margin | 5.3% | 9.3% |
| FCF margin | 6.6% | 15.7% |
| Return on capital | 15.8% | 7.6% |
| Return on equity | 28.1% | 7.9% |
| Balance sheet | ||
| Net debt | $2.1B | $2.0B |
| Net debt / EBITDA | 2.2x | 1.7x |
| Dividends and buybacks | $413M | $258M |
| Valuation & quality | ||
| P/E | 11.8x | 36.3x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
KBR $4.3B
RBA $1.1B
FY17
KBR $4.2B
RBA $971M
FY18
KBR $4.9B
RBA $1.2B
FY19
KBR $5.6B
RBA $1.3B
FY20
KBR $5.8B
RBA $1.4B
FY21
KBR $7.3B
RBA $1.4B
FY22
KBR $6.6B
RBA $1.7B
FY23
KBR $7.0B
RBA $3.7B
FY24
KBR $7.7B
RBA $4.3B
FY25
KBR $7.8B
RBA $4.6B
KBR
RBA
Operating margin
FY16
KBR 0.7%
RBA 12.0%
FY17
KBR 6.3%
RBA 11.1%
FY18
KBR 9.5%
RBA 15.8%
FY19
KBR 6.4%
RBA 16.9%
FY20
KBR 1.0%
RBA 19.1%
FY21
KBR 3.2%
RBA 17.0%
FY22
KBR 5.2%
RBA 26.2%
FY23
KBR 6.5%
RBA 12.8%
FY24
KBR 8.6%
RBA 17.8%
FY25
KBR 10.0%
RBA 15.5%
KBR
RBA
Free cash flow
FY16
KBR $50.0M
RBA $159M
FY17
KBR $185M
RBA $137M
FY18
KBR $148M
RBA $127M
FY19
KBR $236M
RBA $319M
FY20
KBR $347M
RBA $244M
FY21
KBR $248M
RBA $308M
FY22
KBR $325M
RBA $431M
FY23
KBR $269M
RBA $316M
FY24
KBR $410M
RBA $765M
FY25
KBR $515M
RBA $719M
KBR
RBA
Return on capital
FY16
KBR 2.8%
RBA 11.4%
FY17
KBR 25.5%
RBA 8.7%
FY18
KBR 21.2%
RBA 11.2%
FY19
KBR 12.3%
RBA 13.7%
FY20
KBR 1.8%
RBA 14.4%
FY21
KBR 3.9%
RBA 9.1%
FY22
KBR 7.5%
RBA 18.1%
FY23
KBR 11.9%
RBA 7.7%
FY24
KBR 14.8%
RBA 7.6%
FY25
KBR 15.8%
RBA 7.6%
KBR
RBA
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.