Aecom
- Open
- 69.40
- Day high
- 70.28
- Day low
- 68.50
- Prev close
- 69.80
- Volume
- 299K
- Mkt cap
- $8.8B
- P/E (TTM)
- 16.4
- EPS (TTM)
- $4.20
- P/B
- 3.9
- P/S
- 0.6
- Yield
- 2.11%
- Per share
- $1.45
- ▲Insiders net buying $699K over the last 3 months (3 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Aecom (ACM) is a Industrials company listed on NYSE. The stock is down 39% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 0 sales (SEC Form 4).
Aecom (ACM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ACM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $1.58 | $1.59 | +0.6% | $1.9B | +0.4% |
| Nov 18, 2025 | $1.34 | $1.36 | +1.5% | $4.2B | +114.3% |
| Nov 18, 2024 | $1.24 | $1.27 | +2.4% | $4.1B | +121.5% |
| Nov 13, 2023 | $1.01 | $1.01 | +0.0% | $3.8B | +4.1% |
| Nov 14, 2022 | $0.82 | $0.89 | +8.5% | $3.4B | +115.9% |
| Feb 7, 2022 | $0.77 | $0.89 | +15.6% | $3.3B | +109.7% |
| Nov 15, 2021 | $0.77 | $0.81 | +5.2% | $3.4B | -2.7% |
| Feb 8, 2021 | $0.57 | $0.62 | +8.8% | $3.3B | +3.1% |
| Nov 16, 2020 | $0.57 | $0.60 | +5.3% | $3.6B | -68.7% |
| Aug 4, 2020 | $0.49 | $0.55 | +12.2% | $3.2B | +12.2% |
| May 5, 2020 | $0.53 | $0.55 | +3.8% | $3.2B | +10.0% |
| Feb 3, 2020 | $0.67 | $0.46 | -31.3% | $3.2B | -31.3% |
ACM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | Poloni Laraofficer: PRESIDENT | Buy | 4,224 | $70.63 |
| May 14, 2026 | Rudd Troydirector, officer: CHIEF EXECUTIVE OFFICER | Buy | 4,225 | $71.02 |
| May 14, 2026 | Kapoor Gauravofficer: CHIEF FINANCIAL OFFICER (PAO) | Buy | 1,420 | $71.12 |
| Mar 5, 2026 | KERR DEREK Jdirector | Grant | 2,002 | — |
| Mar 5, 2026 | Wolfenbarger Janet Caroldirector | Grant | 2,002 | — |
| Mar 5, 2026 | van 't Noordende Alexander Mdirector | Grant | 2,002 | — |
| Mar 5, 2026 | Buss Brad Wdirector | Grant | 2,002 | — |
| Mar 5, 2026 | Pipes Kristydirector | Grant | 2,002 | — |
| Mar 5, 2026 | Tishman Daniel R.director | Grant | 2,002 | — |
| Mar 5, 2026 | Stotlar Douglasdirector | Grant | 2,236 | — |
| Dec 17, 2025 | Poloni Laraofficer: PRESIDENT | Sell | 17,340 | $97.01 |
| Dec 17, 2025 | Rudd Troydirector, officer: CHIEF EXECUTIVE OFFICER | Grant | 86,581 | — |
| Dec 17, 2025 | Poloni Laraofficer: PRESIDENT | Grant | 16,334 | — |
| Dec 17, 2025 | Kapoor Gauravofficer: CHIEF FINANCIAL OFFICER (PAO) | Grant | 15,109 | — |
| Dec 17, 2025 | Gan David Y.officer: CHIEF LEGAL OFFICER | Sell | 9,502 | $97.01 |
Source: ACM SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full ACM insider & 13F page →Aecom company profile
Overview
AECOM (NYSE:ACM) is a global infrastructure consulting firm founded in 1980 and headquartered in Dallas, Texas. The company went public in 2007 and has grown through strategic acquisitions and organic expansion to become one of the world's largest engineering and design firms. AECOM operates across the Americas, Europe, the Middle East, Africa, and Asia Pacific, providing professional infrastructure consulting services to governments, businesses, and organizations. The company has been recognized as the #1 overall design firm by Engineering News-Record and serves as the sole venue infrastructure partner for the LA 2028 Olympic and Paralympic Games.
Business
AECOM operates in the infrastructure consulting and engineering services industry, which involves planning, designing, and managing the construction of critical infrastructure projects. The company provides a comprehensive suite of professional services that span the entire infrastructure lifecycle, from initial planning and feasibility studies to detailed engineering design, construction management, and ongoing advisory services. The company operates through three main business segments. The Americas segment represents the largest portion of AECOM's business, generating approximately 70% of total revenue. This segment focuses on design, consulting, and program management services across transportation, water, government facilities, environmental, and energy sectors in the United States and Canada. The International segment accounts for roughly 25% of revenue and provides similar services across Europe, the Middle East, Africa, and Asia Pacific markets, with particular strength in the UK, Australia, and Middle East regions. The AECOM Capital segment represents a smaller portion of the business, focusing on real estate development and investment activities. AECOM's core services include architectural and engineering design, where the company creates detailed technical plans and specifications for infrastructure projects ranging from highways and bridges to water treatment facilities and airports. The company also provides program and construction management services, overseeing large-scale infrastructure programs to ensure they are delivered on time and within budget. Additionally, AECOM offers planning and consulting services, helping clients navigate complex regulatory requirements, environmental assessments, and strategic infrastructure planning. The company is increasingly expanding its advisory services, providing specialized expertise in areas like digital consulting, water and environment advisory, and sustainability planning. The infrastructure consulting industry serves as a critical intermediary between infrastructure owners (governments, utilities, private developers) and construction contractors. AECOM's role is to translate client needs into technical specifications and manage the complex process of bringing infrastructure projects from concept to completion. This industry is characterized by long project cycles, typically spanning multiple years, and requires deep technical expertise across multiple engineering disciplines.
Revenue model
AECOM generates revenue primarily through professional service fees charged to clients for engineering design, consulting, and project management services. The company typically operates under fixed-fee contracts, cost-plus arrangements, or time-and-materials agreements, depending on the project scope and client preferences. Revenue is recognized as services are performed, creating a relatively predictable revenue stream based on the company's backlog of contracted work. The company's paying customers include government agencies at federal, state, and local levels, which represent approximately 70% of the business, along with private sector clients including utilities, real estate developers, and industrial companies that account for about 30% of revenue. Government clients typically engage AECOM for large-scale public infrastructure projects funded through budget allocations or infrastructure spending programs like the U.S. Infrastructure Investment and Jobs Act (IIJA). Private sector clients seek AECOM's services for commercial developments, industrial facilities, and regulated utility infrastructure. AECOM's business model benefits from several factors that can increase margins. The company's scale and global presence allow it to leverage enterprise capability centers in lower-cost locations, reducing delivery costs while maintaining quality. The firm's focus on winning larger, more complex projects (those exceeding $25 million) typically commands higher margins due to the specialized expertise required. Additionally, AECOM's strategic shift toward higher-value advisory and program management services, which require less labor intensity than traditional design work, supports margin expansion. The company targets having 50% of its revenue from advisory and program management services long-term. Conversely, margin pressure can arise from intense competition for large projects, particularly during economic downturns when fewer projects are available. Labor cost inflation in key markets can compress margins if not adequately passed through to clients via contract escalation clauses. Regulatory delays or changes in government funding priorities can impact project timing and utilization rates. International operations face additional risks from foreign exchange fluctuations and varying regulatory environments across different countries.
Competitive moat
AECOM's competitive moat is moderately strong, built primarily on its scale, technical expertise, and established client relationships. The company's position as the world's largest infrastructure consulting firm provides significant advantages in winning large, complex projects that smaller competitors cannot handle independently. AECOM's global footprint allows it to serve multinational clients across multiple jurisdictions and leverage technical expertise developed in one market to serve clients in others. The company's deep client relationships, particularly with government agencies, create switching costs and repeat business opportunities. Many infrastructure projects span multiple years or decades, creating natural client stickiness once AECOM is embedded in a program. The firm's track record on high-profile projects like Olympic venues and major transportation infrastructure enhances its reputation and ability to win future competitive bids. AECOM's technical expertise and specialized capabilities in complex infrastructure domains create barriers to entry for new competitors. The company's ability to handle large-scale, multidisciplinary projects requires significant human capital investment and years of experience that cannot be easily replicated. Additionally, AECOM's investments in digital tools, artificial intelligence, and enterprise capability centers provide operational advantages over smaller competitors. However, the moat faces several challenges. The infrastructure consulting industry remains highly fragmented with numerous regional and specialized competitors who can compete effectively on smaller projects or in specific technical niches. Large construction companies and technology firms are increasingly offering competing services, potentially disintermediating traditional consultants. The rise of digital design tools and artificial intelligence could commoditize certain aspects of traditional engineering services over time. Additionally, government clients often require competitive bidding processes that limit the benefits of existing relationships, and private sector clients may switch providers based primarily on cost considerations.
Risks & safety
AECOM demonstrates a moderate margin of safety with solid financial fundamentals but elevated valuation metrics. • Liquidity and Solvency: Strong cash position of $1.6 billion with positive free cash flow generation of $178 million in Q2 2025. Current ratio of 1.14 indicates adequate short-term liquidity. However, debt-to-equity ratio of 1.32 reflects moderate leverage levels that require monitoring. • Valuation Metrics: Trading at 21.4x P/E ratio and 13.3x EV/EBITDA, representing premium valuations that limit downside protection. Price-to-book ratio of 5.4x suggests shares are priced for continued strong performance. • Operating Performance: Consistent revenue growth and margin expansion with adjusted EBITDA margins approaching 16%. Strong backlog provides revenue visibility, though project-based nature creates some earnings volatility. • Other Considerations: Exposure to government spending cycles and infrastructure funding creates some revenue risk, though diversified geographic and end-market exposure provides some protection. Professional services business model generates strong cash conversion but requires continuous business development investment.
Recent development
Over the past few years, AECOM has undergone significant strategic transformation focused on becoming a pure-play infrastructure consulting firm. The company divested its construction and facilities management businesses to concentrate on higher-margin design, consulting, and program management services. This strategic pivot has allowed AECOM to improve margins and focus capital allocation on its core competencies. AECOM has been aggressively expanding its advisory and program management capabilities, targeting 50% of revenue from these higher-value services compared to traditional design work. The company recently launched a new Water and Environment Advisory business, targeting $200 million to $1 billion in revenue by leveraging existing client relationships and expanding into new municipal, federal, and private sector opportunities. This expansion reflects AECOM's strategy to move up the value chain from traditional engineering services to strategic advisory roles. The company has made significant investments in digital capabilities and artificial intelligence, with digital consulting revenue growing 70% year-to-date in fiscal 2024. AECOM is leveraging these technologies to improve service delivery efficiency and create new service offerings for clients seeking digital transformation of their infrastructure operations. AECOM has also focused on operational excellence through enterprise capability centers, establishing lower-cost delivery centers globally to improve margins while maintaining service quality. The company has achieved consistently high win rates of approximately 50% on competitive pursuits, with even higher success rates on large projects exceeding $25 million in value. This track record has enabled AECOM to maintain a strong backlog with a book-to-burn ratio consistently above 1.0, providing revenue visibility and supporting continued growth.
ACM company profile · for informational purposes only — not investment advice.
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