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Jacobs Solutions (J) stock

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NYSE: J NYSE Construction & Engineering Next results ~November 23, 2026

B Fundamentals grade

Jacobs Solutions is a US-listed company in the construction & engineering industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$260

Cash-flow model

Base case. Range ~$190–$340 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 59% above it.

Price used: $160.24, November 2, 2026

Jacobs Solutions valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 2 selling6 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds353 adding, 473 cuttingOf 70 active managers that changed their stake, 38 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Jacobs Solutions files

Where Jacobs Solutions stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $14.2bn, up 20.1% on a year earlier, faster than 12.7% a quarter earlier. That growth ranks 177 of 931 among all the companies we cover. Free-cash-flow margin rose to 4.5% from 3.5% a year earlier. Operating margin narrowed to 4.6% from 7.2%. The diluted share count is down 3.3% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $244 a share, against a share price of $139. At that price, our model says the market is pricing in about 10.9% a year of cash-flow growth for five years, faster than the 0.2% a year revenue growth it has delivered.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 23, 2026 (estimated)

Jacobs Solutions's trailing-twelve-month revenue grew 20.1% year on year, with a free-cash-flow margin of 4.5%. Where it stands out: change in share count of -3.3% ranks 4 of 40 construction & engineering companies we cover.

Our discounted-cash-flow model values the business at ~$260 per share in the base case (~$190–$340 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 56.4% while net income fell 31.3%: a 88pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $160.24 is 59% below our value per share of $260.
  • Fast growth. Revenue grew 20.1% over the last 12 months, against a median of 21.2% for construction & engineering companies we cover.
  • Growth speeding up. The growth rate is 7.4 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 3.3% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • High earnings multiple. The shares trade at 56 times the last 12 months' earnings, so expectations are demanding.
  • Gross margin slipping. Gross margin is down 2.9 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 30.5% ranks 28 of 35 construction & engineering companies we cover (median 16.2%).

Latest results: FY2026 Q3

Filed August 4, 2026
Earnings per share
$1.84 against an average estimate of $1.83: beat by 0.8%
Revenue
$4.08bn, up 34.5% on a year earlier
Share reaction
+4.3% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
adjusted net revenue growth growth 9.5% to 10% (fiscal 2026); adjusted EBITDA margin 14.7% to 14.8% (fiscal 2026)
Next report
November 23, 2026; average EPS estimate $2.12

Jacobs Solutions' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.6%
  • 1 week+8.9%
  • 1 month+16.1%
  • This year+22.0%
  • 1 year+3.9%
  • 5 years+43.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$14.2B
Operating margin
4.6%
Net margin
2.4%
EPS (TTM, diluted)
$2.85

Growth

Revenue growth
+20.1%
Change in growth rate
+7.4 pts
Share count change
−3.3%

Cash

Free cash flow (TTM)
$645M
FCF margin
4.5%
Stock pay % of revenue
0.5%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Jacobs Solutions valuation models and calculator

What the price is pricing in

The share price implies about 9.1% a year of cash-flow growth for five years.That is faster than the 0.2% a year revenue growth Jacobs Solutions has delivered.

  • Priced in9.1%
  • Last 12 months20.1%
  • 3 years a year28.1%
  • 5 years a year0.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($155.72, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$260
Price used
$155.72close November 3, 2026
Implied change
▲ +64%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Jacobs Solutions's free cash flow after stock-based pay with after-tax interest added back ($838M, FY2026 Q3 TTM), growing 12.4% and 14.4% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$190–~$340 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Jacobs Solutions's free cash flow after stock-based pay ( $838M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Jacobs Solutions as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$260 ~$190–$340 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$100–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$28 ~$20–$40 Left out: out of range vs price (0.17x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$24–$33 Left out: out of range vs price (0.17x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$210 ~$120–$260 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Jacobs Solutions with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −20%
  • Last year's free-cash-flow margin change, if it persists ▲ +26%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $81$118$167$231$316$424
8.5% $57$84$119$165$225$302
10% $42$63$90$125$171$230

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$39.28$44.62$59.26$70.72$74.28$106.65$86.71$109.80$126.12$146.30$160.24
Market value$4.8bn$5.4bn$8.2bn$9.8bn$9.9bn$14.0bn$11.2bn$14.0bn$15.9bn$17.8bn$19.1bn
+ Net debt (− = net cash)−$270m−$373m$1.5bn$570m$815m$1.9bn$2.3bn$2.1bn$1.1bn$1.0bn$2.4bn
Enterprise value$4.5bn$5.0bn$9.7bn$10.4bn$10.7bn$15.9bn$13.5bn$16.1bn$17.0bn$18.8bn$21.5bn
Multiples
Price / sales 0.4x0.5x0.5x0.8x0.7x1.0x1.1x1.3x1.4x1.5x1.3x
Price / earnings 22.7x18.3x49.9x11.6x20.0x29.3x17.4x21.0x19.7x61.7x56.3x
Price / free cash flow 7.8x11.7x21.1x—14.3x22.1x32.3x16.7x17.0x29.4x29.6x
EV / EBITDA 10.7x15.6x19.1x21.0x17.0x20.2x21.0x20.6x21.4x19.9x29.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

45 /100

Weak moat

How hard Jacobs Solutions'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 3 / 20

    Cash operating profit has been a median 4.1% of total assets over 9 years.

  • Pricing power 3 / 20

    Gross margin has been a median 20.5%, moving by 7.1 percentage points (standard deviation) across 9 years.

  • Durability 8 / 20

    Operating margin has been a median 4.6%; its worst year was 2.5%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 9 of 10 years, at a median 4.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 9.4% over five years; stock-based pay has been a median 0.5% 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.

Forecasts and guidance

Next results: November 23, 2026, after the close. Analysts expect revenue of $3.9bn and EPS of $2.12 (range $2.08 to $2.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.27 +19% $15.0bn +25%
Next $8.24 +13% $15.7bn +4%

Next year's EPS estimate has moved +0.1% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.7% on 90 days ago. In the last 30 days, 0 analysts raised Jacobs Solutions's forecast and 1 cut it.

Consensus EPS forecast Jacobs Solutions, last 90 days
$7.00 $7.50 $8.00 $8.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.22 Current fiscal year, 60 days ago: $7.26 Current fiscal year, 30 days ago: $7.27 Current fiscal year, 7 days ago: $7.27 Current fiscal year, Now: $7.27 $7.27 Next fiscal year, 90 days ago: $8.23 Next fiscal year, 60 days ago: $8.26 Next fiscal year, 30 days ago: $8.26 Next fiscal year, 7 days ago: $8.24 Next fiscal year, Now: $8.24 $8.24

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.22$8.23
60 days ago $7.26$8.26
30 days ago $7.27$8.26
7 days ago $7.27$8.24
Now $7.27$8.24

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.83 $1.84 +0.8%
Mar 2026 $1.63 $1.75 +7.1%
Dec 2025 $1.50 $1.53 +1.8%
Sept 2025 $1.68 $1.75 +4.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • adjusted net revenue growth fiscal 2026 9.5% growth to 10% growth Non-GAAP Raised
    “The Company's outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%).” source
  • adjusted EPS fiscal 2026 $7.20 to $7.30 Non-GAAP Raised
    “The Company's outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%).” source
  • adjusted EBITDA margin fiscal 2026 14.7% to 14.8% Non-GAAP Raised
    “The Company's outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%).” source
  • adjusted free cash flow margin fiscal 2026 about 8% Non-GAAP Raised
    “The Company's outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%).” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Jacobs Solutions's revenue by +12.4% next year and +14.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.9%, weight 69%) and the company's own record (+20.0%, weight 31%) . How the weights are set.

Analyst recommendations

16 analysts, Oct 2026
Buy1063%
Hold638%
Sell00%

Monthly trend

  1. Oct 202637616
  2. Sep 202637616
  3. Aug 202637616
  4. Jul 202637616

Counts of recommendations published by analysts covering Jacobs Solutions, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.2%
of tradable shares
Days to cover
5.04
at average volume
Short interest, 1 month
+34%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
0.5%
of shares
Employees
47,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +3.9%

$154.17 on October 31, 2025 to $160.24

ThenNowEffect
Revenue (last 12 months) $11.8bn $14.2bn +20.1%
Net margin 4.2% 2.4% −42.8%
P/E multiple 38.5x 56.3x +46.2%
Share count 123m 119m +3.4%

Biggest factor: net margin.

Last 3 years +48.4%

$107.98 on November 3, 2023 to $160.24

ThenNowEffect
Revenue (last 12 months) $6.8bn $14.2bn +110.4%
Net margin 11.0% 2.4% −78.3%
P/E multiple 18.6x 56.3x +203.0%
Share count 128m 119m +7.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
J+29%−13%+9%+24%+1%+22%
Industry peers (median)+41%−8%+46%+48%+30%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
J58%50%50%75%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
J−12%−26%−14%−13%−22%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 39% from February 21, 2020 to March 23, 2020. Getting back needed a 65% gain, reached on November 13, 2020, 235 days after the low.

Price behaviour

52-week range
$106.67 – $160.24
From 52-week high
0.0%
vs 50-day average
+11.3%
vs 200-day average
+20.1%
Volatility (1 year)
33%
Beta vs S&P 500
0.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±5.5%
After a week
7 up, 5 down
typical move ±5.9%
After a month
4 up, 8 down
typical move ±5.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +4.3% +1.6% +6.4% +6.3%
May 5, 2026 −3.2% +2.2% −12.7% −5.2%
February 3, 2026 +4.7% −1.3% +10.4% −0.3%
November 20, 2025 −11.2% −0.5% −7.1% −6.2%
August 5, 2025 +5.0% +0.3% +7.1% +3.0%
May 6, 2025 −5.8% −0.4% +0.2% 0.0%
February 4, 2025 −4.7% +1.1% −4.0% −10.7%
November 19, 2024 −5.6% +0.4% +0.2% −4.5%
August 6, 2024 −0.5% +0.2% +2.8% +2.7%
May 7, 2024 −7.1% +0.1% −7.5% −7.0%
February 6, 2024 +4.8% +1.1% +4.4% +8.8%
November 21, 2023 −9.5% +0.2% −7.9% −6.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Jacobs Solutions’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.52× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Jacobs Solutions in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Jacobs Solutions
$10B $11B $12B $13B $14B $15B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $10.9B Revenue (TTM), FY24 Q1: $11.1B Revenue (TTM), FY24 Q2: $11.3B Revenue (TTM), FY24 Q3: $11.4B Revenue (TTM), FY24 Q4: $11.5B Revenue (TTM), FY25 Q1: $11.6B Revenue (TTM), FY25 Q2: $11.7B Revenue (TTM), FY25 Q3: $11.8B Revenue (TTM), FY25 Q4: $12B Revenue (TTM), FY26 Q1: $12.4B Revenue (TTM), FY26 Q2: $13.2B Revenue (TTM), FY26 Q3: $14.2B $14.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $10.9B
FY24 Q1 $11.1B
FY24 Q2 $11.3B
FY24 Q3 $11.4B
FY24 Q4 $11.5B
FY25 Q1 $11.6B
FY25 Q2 $11.7B
FY25 Q3 $11.8B
FY25 Q4 $12B
FY26 Q1 $12.4B
FY26 Q2 $13.2B
FY26 Q3 $14.2B
Revenue growth, TTM YoY Jacobs Solutions
0% 20% 40% 60% 80% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 10.9% Revenue growth, TTM YoY, FY24 Q1: 24.2% Revenue growth, TTM YoY, FY24 Q2: 44.8% Revenue growth, TTM YoY, FY24 Q3: 68.3% Revenue growth, TTM YoY, FY24 Q4: 6.0% Revenue growth, TTM YoY, FY25 Q1: 4.6% Revenue growth, TTM YoY, FY25 Q2: 3.6% Revenue growth, TTM YoY, FY25 Q3: 4.0% Revenue growth, TTM YoY, FY25 Q4: 4.6% Revenue growth, TTM YoY, FY26 Q1: 6.6% Revenue growth, TTM YoY, FY26 Q2: 12.7% Revenue growth, TTM YoY, FY26 Q3: 20.1% 20.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 10.9%
FY24 Q1 24.2%
FY24 Q2 44.8%
FY24 Q3 68.3%
FY24 Q4 6.0%
FY25 Q1 4.6%
FY25 Q2 3.6%
FY25 Q3 4.0%
FY25 Q4 4.6%
FY26 Q1 6.6%
FY26 Q2 12.7%
FY26 Q3 20.1%
Operating margin (TTM) Jacobs Solutions
4% 5% 6% 7% 8% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 6.2% Operating margin (TTM), FY24 Q1: 6.0% Operating margin (TTM), FY24 Q2: 5.9% Operating margin (TTM), FY24 Q3: 5.8% Operating margin (TTM), FY24 Q4: 6.0% Operating margin (TTM), FY25 Q1: 6.5% Operating margin (TTM), FY25 Q2: 6.7% Operating margin (TTM), FY25 Q3: 7.2% Operating margin (TTM), FY25 Q4: 7.2% Operating margin (TTM), FY26 Q1: 7.2% Operating margin (TTM), FY26 Q2: 4.5% Operating margin (TTM), FY26 Q3: 4.6% 4.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 6.2%
FY24 Q1 6.0%
FY24 Q2 5.9%
FY24 Q3 5.8%
FY24 Q4 6.0%
FY25 Q1 6.5%
FY25 Q2 6.7%
FY25 Q3 7.2%
FY25 Q4 7.2%
FY26 Q1 7.2%
FY26 Q2 4.5%
FY26 Q3 4.6%
FCF margin (TTM) Jacobs Solutions
2% 4% 6% 8% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 7.7% FCF margin (TTM), FY24 Q1: 8.7% FCF margin (TTM), FY24 Q2: 7.1% FCF margin (TTM), FY24 Q3: 8.4% FCF margin (TTM), FY24 Q4: 8.1% FCF margin (TTM), FY25 Q1: 5.4% FCF margin (TTM), FY25 Q2: 5.0% FCF margin (TTM), FY25 Q3: 3.5% FCF margin (TTM), FY25 Q4: 5.0% FCF margin (TTM), FY26 Q1: 7.1% FCF margin (TTM), FY26 Q2: 3.7% FCF margin (TTM), FY26 Q3: 4.5% 4.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 7.7%
FY24 Q1 8.7%
FY24 Q2 7.1%
FY24 Q3 8.4%
FY24 Q4 8.1%
FY25 Q1 5.4%
FY25 Q2 5.0%
FY25 Q3 3.5%
FY25 Q4 5.0%
FY26 Q1 7.1%
FY26 Q2 3.7%
FY26 Q3 4.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Jacobs Solutions took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $12B
  2. Cost of revenue $9B · 75.2%
  3. Gross profit $3B · 24.8%
  4. Selling, general and admin $2.1B · 17.6%
  5. Operating income $864M · 7.2%
  6. Income tax $216M · 1.8%
  7. Interest and other $359M · 3.0%
  8. Net income $289M · 2.4%

Shares of revenue. Source: Jacobs Solutions's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2009 Oct 2009 2010 Oct 2010 2011 Sept 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Oct 2015 2016 Sept 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Oct 2020 2021 Oct 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 11.5 9.9 10.4 10.9 11.8 12.7 12.1 11.0 10.0 15.0 12.7 13.6 14.1 9.8 10.9 11.5 12.0 14.2
Gross profit — — — — — — — 1.8 1.3 2.2 2.5 2.6 3.0 2.6 2.7 2.8 3.0 3.1
EBITDA 0.7 0.5 0.6 0.7 0.7 0.6 0.5 0.4 0.3 0.5 0.5 0.6 0.8 0.6 0.8 0.8 0.9 0.7
Operating income 0.6 0.4 0.5 0.6 0.7 0.5 0.4 0.3 0.2 0.4 0.4 0.5 0.7 0.5 0.7 0.7 0.9 0.6
Net income 0.4 0.2 0.3 0.4 0.4 0.3 0.3 0.2 0.3 0.2 0.8 0.5 0.5 0.6 0.7 0.8 0.3 0.3
Diluted EPS $3.21 $1.96 $2.60 $2.94 $3.23 $2.48 $2.40 $1.73 $2.42 $1.18 $6.08 $3.71 $3.20 $4.98 $5.30 $6.32 $2.38 $2.85
Growth (year on year)
Revenue +1.9% −13.5% +4.7% +4.9% +8.5% +7.4% −4.6% −9.5% −8.6% +49.5% −15.0% +6.5% +3.9% −30.6% +10.9% +6.0% +4.6% +20.1%
EBITDA −2.5% −32.6% +24.1% +13.6% +12.8% −15.2% −13.0% −22.8% −23.9% +57.6% −2.0% +26.7% +25.8% −18.6% +21.4% +1.5% +19.5% −21.2%
Operating income −3.5% −35.5% +29.7% +14.9% +12.2% −21.1% −15.6% −24.0% −27.9% +58.7% +4.5% +32.4% +28.4% −21.5% +25.3% +2.4% +24.7% −23.4%
Net income −5.0% −38.5% +34.6% +14.5% +11.6% −22.5% −7.7% −30.5% — −44.4% — −42.0% −3.0% +35.0% +3.4% +21.1% −64.1% −31.3%
Diluted EPS −5.0% −38.9% +32.7% +13.1% +9.9% −23.2% −3.2% −27.9% — −51.2% — −39.0% −13.7% +55.6% +6.4% +19.2% −62.3% −28.9%
Margins
Gross margin — — — — — — — 16.1% 12.6% 14.4% 19.4% 19.1% 21.6% 26.4% 25.0% 24.6% 24.8% 22.1%
EBITDA margin 6.0% 4.7% 5.6% 6.0% 6.3% 4.9% 4.5% 3.8% 3.2% 3.4% 3.9% 4.6% 5.6% 6.6% 7.2% 6.9% 7.9% 5.2%
Operating margin 5.4% 4.0% 5.0% 5.5% 5.7% 4.2% 3.7% 3.1% 2.4% 2.6% 3.2% 4.0% 4.9% 5.5% 6.2% 6.0% 7.2% 4.6%
Net margin 3.5% 2.5% 3.2% 3.5% 3.6% 2.6% 2.5% 1.9% 2.9% 1.1% 6.7% 3.6% 3.4% 6.6% 6.1% 7.0% 2.4% 2.4%
Free-cash-flow margin 4.2% 1.8% — — — 4.6% 3.3% 5.6% 4.6% 2.6% −3.9% 5.1% 4.5% 3.5% 7.7% 8.1% 5.0% 4.5%
Cash flow
Cash from operations 0.5 0.2 0.2 0.3 0.4 0.7 0.5 0.7 0.6 0.5 −0.4 0.8 0.7 0.5 1.0 1.1 0.7 0.7
Capital spending 0.1 0.0 — — — 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow 0.5 0.2 — — — 0.6 0.4 0.6 0.5 0.4 −0.5 0.7 0.6 0.3 0.8 0.9 0.6 0.6
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.5 0.2 — — — 0.5 0.4 0.6 0.4 0.3 −0.6 0.6 0.6 0.3 0.8 0.9 0.5 0.6
Balance sheet
Cash 1.0 0.9 0.9 1.0 1.3 0.7 0.5 0.7 0.6 0.6 0.6 0.9 1.0 1.1 0.8 1.1 1.2 1.2
Total debt 0.0 0.0 0.0 0.5 0.4 0.8 0.6 0.4 0.2 2.1 1.2 1.7 2.9 3.4 2.9 2.2 2.2 3.6
Net debt (negative = net cash) −1.0 −0.9 −0.9 −0.5 −0.8 0.0 0.1 −0.3 −0.4 1.5 0.6 0.8 1.9 2.3 2.1 1.1 1.0 2.4
Diluted shares 125m 126m 127m 129m 131m 132m 126m 121m 120m 138m 139m 133m 131m 129m 127m 126m 122m 119m
Returned to shareholders
Dividends — — — — — — — 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.2 0.2
Buybacks — — — 0.0 0.0 0.1 0.4 0.2 0.1 0.0 0.9 0.3 0.3 0.3 0.3 0.4 0.8 0.7
Total returned — — — 0.0 0.0 0.1 0.4 0.2 0.2 0.1 1.0 0.5 0.4 0.4 0.4 0.5 0.9 0.9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 26, 2026
What it owns · $11.7bn
Short-term assets $5.1bnLonger-term assets $6.7bn
What it owes, and who funded it · $7.2bn
Short-term liabilities $4.0bnShareholders' equity $3.3bn
  • Short-term assets cover short-term liabilities $5.1bn of assets due within a year against $4.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $1.2bn of cash against $3.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 110% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 51% to 110% over five years.
  • A year's operating cash flow covers at least 20% of debt $736m of operating cash flow against $3.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $650m against $165m of interest.

From Jacobs Solutions'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.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$715M
Dividends (TTM)
$162M
Returned to shareholders
136%
of free cash flow
Buybacks, last 3 fiscal years
$1.4B
Diluted share count
−3.3%
year over year
Total shareholder yield
4.7%
dividends 0.9% + buybacks 3.8% of market value
Dividend payout ratio
48%
of net income paid out
Sales & admin spending
17.5%
of revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated J ACM FLR MTZ FER EME Median
Revenue, last 12 months $14.2bn $15.4bn $15.5bn $17.3bn $10.9bn $19.8bn $1.5bn
Revenue growth, last 12 months 20.1% −4.2% −4.8% 25.7% 10.0% 22.1% 21.2%
Revenue growth, 3-year average 28.1% 3.3% 1.1% 13.8% — 17.9% 11.3%
Revenue growth, latest quarter 34.5% −14.2% 8.8% 29.9% — 28.8% 26.9%
Gross margin 22.1% 5.7% −0.8% — — 19.6% 13.0%
Operating margin 4.6% 4.1% −1.4% — 34.0% 10.4% 4.1%
Operating margin, 3-year average 5.9% 4.9% 1.0% — — 9.5% 5.4%
Net margin 2.4% 1.9% −12.8% 2.8% 9.2% 7.8% 1.9%
Cash from operations / revenue 5.2% 2.4% −1.8% 4.4% 20.0% 8.1% 4.4%
Free-cash-flow margin 4.5% 1.3% −2.1% 2.3% 14.9% 7.5% 2.3%
Free-cash-flow margin, 3-year average 5.5% 3.6% 0.5% 4.5% — 7.9% 5.5%
Stock pay / revenue 0.5% 0.3% 0.2% 0.2% — 0.1% 0.7%
Change in share count −3.3% −2.2% −10.8% 0.0% −0.8% −2.0% 0.8%

Median of all 43 companies we cover in construction & engineering. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 construction & engineering companies
Measure Company Peer median Rank
Revenue growth Growth 20.1% 21.2% 23 of 43
Change in growth rate Growth +7.4pp +3.2pp 14 of 43
Gross margin Profitability 22.1% 11.8% 10 of 39
Operating margin Profitability 4.6% 4.1% 17 of 39
Net margin Profitability 2.4% 2.1% 20 of 42
Free-cash-flow margin Cash generation 4.5% 2.3% 17 of 43
Stock pay as % of revenue Cash generation 0.5% 0.7% 13 of 33
Long-term debt as % of assets Balance sheet 30.5% 16.2% 28 of 35
Change in share count Balance sheet -3.3% 1.9% 4 of 40

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 26, 2025
Geography
Region Revenue Share YoY
United States $7.4B 61.6% ▲ 3.3%
Europe $2.9B 23.9% ▲ 6.8%
Middle East and Africa $596M 5.0% ▲ 11.1%
Australia and New Zealand $573M 4.8% ▲ 4.3%
Canada $248M 2.1% ▼ 5.2%
India $180M 1.5% ▲ 18.0%
Asia $145M 1.2% ▲ 9.3%

From Jacobs Solutions's 10-K filed November 20, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$13.6B
Institutions reporting
861
Shares held vs prior quarter
▲ 2.6%
Positions opened / closed
76 / 112

Top buyers and sellers, Q2 2026: 353 institutions bought and 473 sold ; the biggest buyer was Pictet Asset Management Holding SA (+1.4M shares) and the biggest seller Van Eck Associates Corp (−882K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.4B 10.9M 10.1% ▲ 3.9%
Vanguard Capital Management LLC $972M 7.7M 7.2% ▲ 1.1%
State Street Corp $931M 7.4M 6.9% ▲ 1.9%
Vanguard Portfolio Management LLC $598M 4.7M 4.4% ▼ 0.2%
Primecap Management Co $575M 4.6M 4.2% ▲ 1.1%
Invesco Ltd. $425M 3.4M 3.1% ▲ 16.4%
Geode Capital Management, LLC $418M 3.3M 3.1% ▲ 2.4%
Morgan Stanley $400M 3.2M 2.9% ▲ 1.4%
Ninety One Uk Ltd $357M 2.8M 2.6% ▼ 12.9%
Boston Partners $340M 2.7M 2.5% ▲ 10.8%
Massachusetts Financial Services Co $219M 1.7M 1.6% ▲ 3.5%
Bank Of America Corp $208M 1.7M 1.5% ▲ 6.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Jacobs Solutions's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $813,528 6 trades by 4 insiders, last 12 months Insider sales History → $2.7M 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $1.9M net selling
Insider Date Trade Shares Price Value
Hill Patrick PRESIDENT August 7, 2026 Sell 5,500 $145.00 $797,500
Hill Patrick PRESIDENT August 7, 2026 Sell 11,701 $143.67 $1.7M
Pragada Robert V Chair & CEO May 15, 2026 Buy 3,601 $111.09 $400,035
Fernandez Manuel J Director May 13, 2026 Buy 253 $112.56 $28,478
Fernandez Manuel J Director May 8, 2026 Buy 403 $121.93 $49,137
Miller Shannon President March 6, 2026 Sell 1,440 $134.13 $193,147
Fernandez Manuel J Director November 24, 2025 Buy 763 $130.78 $99,785
Nathamuni Venkatesh Chief Financial Officer November 24, 2025 Buy 750 $135.11 $101,333
Robertson Peter J Director November 24, 2025 Buy 1,000 $134.76 $134,760

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

No trades in Jacobs Solutions disclosed in the last 12 months; 19 earlier trades on record.

  • Tim Walberg(R-MI 5):Purchase, $15,001 - $50,000, traded February 7, 2025, filed June 3, 2026
  • Thomas H. Kean, Jr.(R-NJ 7):Exchange, $15,001 - $50,000, traded September 30, 2024, filed October 15, 2024
  • Thomas H. Kean, Jr.(R-NJ 7):Exchange, $15,001 - $50,000, traded September 30, 2024, filed October 15, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 3, 2026
  • November 20, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Jacobs Solutions was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Jacobs Solutions in brief

What does Jacobs Solutions do?
Jacobs Solutions is a US-listed company in the construction & engineering industry. Its financial year ends in September.
What is Jacobs Solutions's stock ticker?
Jacobs Solutions trades under the ticker J on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Jacobs Solutions's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Jacobs Solutions reported revenue of $14.2B, 20.1% higher than a year earlier, according to its SEC filings.
What is Jacobs Solutions's free cash flow?
Jacobs Solutions's free-cash-flow margin is 4.5% of revenue over the trailing twelve months, ranking 17 of the 43 construction & engineering companies we cover.
What is Jacobs Solutions's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Jacobs Solutions's free cash flow after stock-based pay gives ~$260 per share in the base case, and ~$190–$340 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Jacobs Solutions's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Jacobs Solutions buying back stock, and does it pay a dividend?
Jacobs Solutions spent $715M on share repurchases over the trailing twelve months, and its diluted share count fell 3.3% over the year.
What is Jacobs Solutions's market cap?
On November 2, 2026, Jacobs Solutions's market capitalisation was about $19.1B, with a price-to-earnings ratio of 56.3 and net debt of $2.4B. Market figures come from third-party market data and may be delayed.
Does Jacobs Solutions pay a dividend?
Yes: Jacobs Solutions paid $162M in dividends over the trailing twelve months, a dividend yield of 0.86% and a payout ratio of 47.8%.
How much debt does Jacobs Solutions have?
Jacobs Solutions's debt-to-equity ratio is 109.6%, from its latest balance sheet (50.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Jacobs Solutions's competitors?
In our Construction & Engineering peer group, the companies closest to Jacobs Solutions are Aecom, Fluor Corp, Mastec Inc, Ferrovial N.V. and Emcor. The side-by-side comparison below sets their revenue, margins and growth against Jacobs Solutions's.
Are insiders buying or selling Jacobs Solutions stock?
Over the last 12 months, Jacobs Solutions's directors and officers reported 6 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Jacobs Solutions's next earnings date?
Around November 23, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Jacobs Solutions announces its own schedule.