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Aecom key statistics and ratios

In fiscal 2025, Aecom had return on equity of 24.0% and a net margin of 3.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Net margin1.9%1.0%−1.9%−1.4%1.3%2.4%0.4%2.5%3.5%1.9%
Return on equity8.5%3.4%−6.7%−5.3%5.8%12.0%2.4%18.3%24.0%12.3%
Return on assets2.4%0.9%−1.8%−1.4%1.4%2.7%0.5%3.5%4.6%2.4%
Effective tax rate1.8%−1.6%5.4%19.7%21.8%24.7%26.3%21.3%22.3%18.8%
Dividends ÷ net income—————20.4%173.8%28.6%23.8%52.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $12.0bn
Short-term assets $6.3bnLonger-term assets $5.7bn
What it owes, and who funded it · $11.8bn
Short-term liabilities $6.0bnLonger-term liabilities $3.6bnShareholders' equity $2.2bn
  • Short-term assets cover short-term liabilities $6.3bn of assets due within a year against $6.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6.3bn short-term assets against $3.6bn of longer-dated liabilities.
  • More cash than debt $1.0bn of cash against $2.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 124% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 86% to 124% over five years.
  • A year's operating cash flow covers at least 20% of debt $365m of operating cash flow against $2.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $631m against $202m of interest.

From Aecom's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

50 /100

Moderate moat

How hard Aecom's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 6.1%, moving by 1.0 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median 4.0%; its worst year was 2.9%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 8 of 8 years, at a median 4.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 14.5% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Aecom's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Aecom.