ACMAECOM
Is the business good?
The checks split: 7 of 9 health tests passed, but returns that lean on debt.
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is mostly backed by cash. Conversion is worsening vs a year ago.
Margins have held roughly steady, a stable cost structure.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 20% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ACM?
AECOM earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 3.8 points above what the capital costs: growth creates value
- Operating margin
- 4.1%
Operating margin · Engineering & Construction median 7.8% · 12 months to Q3 2026
- Cash conversion
- 0.71×
Cash conversion · 1.12× a year ago · most of the operating profit arrived as cash, working capital took the rest
- Share count, year on year
- −3.4%
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 Q3 2026
- 5.7%
- Operating margin12 months to Q3 2026
- 4.1%
- Net margin12 months to Q3 2026
- 1.9%
- Free cash flow margin
- 1.3%
- Revenue, trailing twelve months
- $15.4B
- Free cash flow, trailing twelve months
- $203M
- Net income, trailing twelve months
- $288M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from ACM and who it buys from, as the companies report it.
- U.S. government7.0%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; ACM’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Engineering & Construction
Ranks #1 of 25 by RyuScore