Is the business good?
How good a business is ACM?
AECOM earns 20% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
20%
Return on invested capital · cost of capital 9.0% · 11 points above what the capital costs: growth creates value
- Operating margin
- 6.3%
Operating margin · Engineering & Construction median 7.4% · 12 months to Q2 2026
- Cash conversion
- 0.81×
Cash conversion · 1.35× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −2.9%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 2.9% |
| FY2021 | 4.7% |
| FY2022 | 4.9% |
| FY2023 | 2.3% |
| FY2024 | 5.1% |
| FY2025 | 6.4% |
Details›
- Gross margin12 months to Q2 2026
- 7.7%
- Operating margin12 months to Q2 2026
- 6.3%
- Net margin12 months to Q2 2026
- 3.2%
- Free cash flow margin
- 2.6%
- Revenue, trailing twelve months
- $16.0B
- Free cash flow, trailing twelve months
- $410M
- Net income, trailing twelve months
- $506M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 20%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Engineering & Construction
Ranks #13 of 27 by Smart Score