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AECOM (ACM) earnings and revenue breakdown

Latest: Q4 FY25 · 10-K filed Nov 19, 2025 · AECOM (ACM) Q4 FY25 earnings results →

Q4 FY25 Revenue up 2% year over year to $4.2B · 3¢ of every $1 of revenue kept as net profit · operating margin 5.7%

AECOM made $4.2B in Q4 FY25 (+2% Y/Y). Operating margin 5.7%, net earnings $120M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Nov 19, 2025.

Revenue$4.2B
Year over year+2%
Operating margin5.7%
Net earnings$120M
Operating cash flow$196M

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AECOM Q4 FY25 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
AECOM Q4 FY25 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $4.2B in Q4 FY25, up 2% year over year and roughly flat from the previous quarter.

Gross margin was 7.9%, up 0.8 points from Q4 FY24. Operating profit was $0.24B, a 5.7% margin (down 0.1 points year over year). Of the extra revenue versus Q4 FY24, 2% reached operating profit, below the 6% margin then. Operating expenses grew 61% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+278%). Net earnings were $0.12B, down 30% year over year. The effective tax rate was 29.8%.

Operating cash flow was $0.20B (down 34% year over year), 142% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. After capital expenditures, net ($0.06B), free cash flow as the company reports it was $0.13B.

Quarterly history

AECOM revenue by quarterAECOM revenue by quarter$4.1BQ4 FY24$3.8BQ2 FY25$4.2BQ3 FY25$4.2BQ4 FY25
AECOM net earnings by quarterAECOM net earnings by quarter$173MQ4 FY24$143MQ2 FY25$131MQ3 FY25$120MQ4 FY25
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2510-KNov 19, 2025$4.2B+2%5.7%$120M$196M
Q3 FY2510-QAug 5, 2025$4.2B+0.7%7.0%$131M$284M
Q2 FY2510-QMay 6, 2025$3.8B-4%6.8%$143M$191M
Q4 FY2410-KNov 19, 2024$4.1B+7%5.8%$173M$299M

Charts

AECOM: revenue growth, year over year and quarter over quarterAECOM: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q4 FY24-4%-8%Q2 FY25+1%+11%Q3 FY25+2%0%Q4 FY25
Latest (Q4 FY25): Y/Y +2%, Q/Q 0%.
AECOM: where the cash came from (+) and went (−), TTM to Q3 FY26AECOM: where the cash came from (+) and went (−), TTM to Q3 FY26Cash drawn (+) / kept (−)$781MBuybacks−$692MOperating cash flow$365MAcquisitions−$210MCapital spending−$162MOther financing$155MDividends−$150MNet borrowing (+) / repaid (−)−$73.7MOther investing−$56.1MShares issued$48.2MNot reconciled−$6.4MAsset & business sales$296K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
AECOM: profit against cash, quarter by quarterAECOM: profit against cash, quarter by quarterNet incomeOperating cash flow$183M$299MQ4 FY24$179M$151MQ1 FY25$160M$191MQ2 FY25$160M$284MQ3 FY25$138M$196MQ4 FY25$93.4M$70.2MQ1 FY26$190M$3.8MQ2 FY26−$82.9M$95.2MQ3 FY26
Latest (Q3 FY26): Net income −$82.9M, Operating cash flow $95.2M.
AECOM: diluted shares by fiscal yearAECOM: diluted shares by fiscal year161MFY20150MFY21143MFY22140MFY23136MFY24133MFY25
-17.3% since FY20: buybacks shrank the count.
AECOM: long-term debt falling due (FY25)AECOM: long-term debt falling due (FY25)$66.3M2026$31.2M2027$22.1M2028$761M2029$6.8M2030$1.9BLater
Cash $1.6B, short-term investments —, long-term debt — at 2025-09-30.
AECOM in its industry: growth against margin (7 companies, SIC 8711)AECOM in its industry: growth against margin (7 companies, SIC 8711)revenue growth, year over year →↑ operating marginmedian +5%median 7%TTEKVSECWLDNMGACFNOFALACM (+2%, 6%)
Services-Engineering Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About AECOM

In this report, we use the terms “the Company,” “we,” “us” and “our” to refer to AECOM and its consolidated subsidiaries. Unless otherwise noted, references to years are for fiscal years. Our fiscal year consists of 52 or 53 weeks, ending on the Friday closest to September 30. For clarity of presentation, we present all periods as if the year ended on September 30. We refer to the fiscal year ended September 30, 2024 as “fiscal 2024” and the fiscal year ended September 30, 2025 as “fiscal 2025.” We are a leading global provider of professional infrastructure consulting and advisory services for governments, businesses and organizations throughout the world.

In its own words, from its 10-K, filed Nov 19, 2025.

AECOM against its Services-Engineering Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +5%. Operating margin: 5.7% against the peers' median 7.6%.

CompanyQuarterRevenueY/YOp. margin
ACM AECOMQ4 FY25$4.2B+2%5.7%
TTEK Tetra TechQ3 FY26$1.3B-4%12.1%
VSEC VSEQ3 2026$541M+91%14.3%
WLDN Willdan GroupQ3 2026$215M+18%7.6%
MG Mistras GroupQ3 2026$205M+5%7.4%
ACFN Acorn EnergyQ3 2026$2.6M+5%7.3%
HYOR HyOrcQ2 2026$24K—100.0%
OFAL OFAQ1 FY27$15K-22%n/m

Source: AECOM 10-K on SEC EDGAR · CIK 868857 · Services-Engineering Services

13F: who owns ACM and who is buying

Largest holders of ACM (13F)Largest holders of ACM (13F)Vanguard Group$1.2BBlackRock$1.0BPrimecap Management$613MVanguard Capital Management LLC$405MVanguard Portfolio Management LLC$383MState Street$287MFMR LLC$262MUBS AM, a distinct business unit …$249MInvesco$223MGeode Capital Management, LLC$171M
Funds' net buying of ACM by quarter (13F)Funds' net buying of ACM by quarter (13F)−$147M2024-09−$122M2024-12$150M2025-03$102M2025-06$68.5M2025-09−$353M2025-12−$48.1M2026-03$57.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ACM

History

Every quarter: Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：AECOM（ACM）财报

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