AECOM vs Fluor
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KIRA’s take AI analyst
I put AECOM and Fluor side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
AECOM
ACM
9/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Fluor
FLR
1/10
Share count change
Side by side
Best in the row
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

