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KBR, Inc. (KBR) stock

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NYSE: KBR NYSE Construction & Engineering Next results ~January 25, 2027

C+ Fundamentals grade

KBR, Inc. is a US-listed company in the construction & engineering industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$61

Cash-flow model

Base case. Range ~$42–$86 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 54% above it.

Price used: $39.69, November 2, 2026

KBR, Inc. 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, 0 selling4 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds198 adding, 176 cuttingOf 62 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter KBR files

10-Q filed October 29: KBR

KBR, Inc. reported revenue of $7.82bn for the twelve months to October 2026, down 2.4% on a year earlier, a smaller fall than the 3.6% decline seen a quarter earlier. Among the construction & engineering companies we cover, this ranks the firm 24th of 29 for growth. Free-cash-flow margin slipped to 4.2%, from 6.3% a year earlier. A 3.1% reduction in the diluted share count over the year has lifted the value of each remaining share. The fundamentals grade improves from D to C+. Our model value is little changed at $48.59 a share, well above the current price of $39.09. The rating remains Hold. At that price, the market appears to be pricing in no cash-flow growth over five years, close to the 1.3% annual revenue growth KBR has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where KBR stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $7.72bn, down 3.6% on a year earlier, slower than -2.8% a quarter earlier. That puts it 888 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 4.6% from 5.8% a year earlier. The diluted share count is down 3.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 7 financial-health checks. Our cash-flow model value is $30.17 a share, against a share price of $36.88. At that price, our model says the market is pricing in about 4.3% a year of cash-flow growth for five years, faster than the 1.0% a year revenue growth it has delivered.

10-Q on SEC EDGAR

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 ~January 25, 2027 (estimated)

KBR, Inc.'s trailing-twelve-month revenue fell 2.4% year on year, with a free-cash-flow margin of 4.2%. Where it stands out: change in share count of -3.1% ranks 6 of 40 construction & engineering companies we cover. Where it lags: revenue growth of -2.4% ranks 35 of 43 construction & engineering companies we cover.

Our discounted-cash-flow model values the business at ~$61 per share in the base case (~$42–$86 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 35.2% while net income grew 16.3%: a 51pp 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 $39.69 is 54% below our value per share of $61.
  • Shrinking share count. Diluted shares fell 3.1% 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

  • Revenue shrinking. Revenue fell 2.4% over the last 12 months.
  • Weak cash conversion. Free cash flow was 74% of net income over the last 12 months.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.12 against an average estimate of $1.00: beat by 11.7%
Revenue
$2.03bn, up 5.0% on a year earlier
Share reaction
-3.6% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
revenues $7.9bn to $8.36bn (Fiscal Year 2026); adjusted EBITDA $980m to $1,040m (Fiscal Year 2026)
Next report
October 29, 2026; average EPS estimate $1.02

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

Price chart

  • 1 day+2.6%
  • 1 week-0.8%
  • 1 month+15.9%
  • This year+0.1%
  • 1 year-5.7%
  • 5 years+0.6%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$7.8B
Operating margin
9.3%
Net margin
5.7%
EPS (TTM, diluted)
$3.49

Growth

Revenue growth
−2.4%
Change in growth rate
+1.3 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$328M
FCF margin
4.2%

Earnings

Last results
October 29, 2026
Next results (est.)
January 25, 2027

News & updates

Updated October 31, 2026

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

  1. Results
  2. Partnership
  3. Governance
  4. Dividend
  5. Partnership
  6. Leadership
  7. Announcement
  8. Announcement
  9. Announcement
  10. Leadership
  11. Partnership
  12. Results
  13. Guidance
  14. Leadership

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

KBR, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.7% a year for five years.That is close to the 1.3% a year revenue growth KBR has delivered.

  • Priced in-2.7%
  • Last 12 months-2.4%
  • 3 years a year4.6%
  • 5 years a year1.3%

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 ($39.14, 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
~$61
Price used
$39.14close November 3, 2026
Implied change
▲ +56%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of KBR, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($557M, FY2026 Q3 TTM), growing 6% and 3.2% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$42–~$86 ; 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 KBR, Inc.'s free cash flow after stock-based pay ( $557M, 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 KBR, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 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. ~$61 ~$42–$86 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. ~$59 ~$52–$80 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$22 ~$16–$31 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$24 ~$21–$28 Included
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. ~$45 ~$22–$61 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare KBR, Inc. 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 ▼ −35%
  • Revenue growth 5 points higher ▲ +46%
  • Free-cash-flow margin 1 point lower ▼ −25%
  • Last year's free-cash-flow margin change, if it persists ▼ −34%
  • Discount rate 1 point higher ▼ −20%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $47$70$100$140$192$259
8.5% $32$49$70$99$136$183
10% $23$36$53$74$102$139

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$14.47$14.58$17.66$13.77$28.03$28.94$45.03$50.41$53.40$57.43$39.96$39.69
Market value$2.1bn$2.1bn$2.5bn$1.9bn$4.0bn$4.1bn$6.3bn$7.9bn$7.2bn$7.7bn$5.2bn$5.0bn
+ Net debt (− = net cash)−$883m$114m$31m$509m$498m$1.2bn$1.5bn$1.4bn$1.5bn$2.2bn$2.1bn$2.1bn
Enterprise value$1.2bn$2.2bn$2.5bn$2.5bn$4.5bn$5.3bn$7.9bn$9.2bn$8.7bn$9.9bn$7.3bn$7.1bn
Multiples
Price / sales 0.4x0.5x0.6x0.4x0.7x0.7x0.9x1.2x1.0x1.0x0.7x0.6x
Price / earnings 10.3x—5.8x6.9x19.7x—n/m41.4x—20.5x12.4x11.4x
Price / free cash flow 56.3x41.4x13.5x13.1x16.9x11.8x25.6x24.2x26.8x18.8x10.0x15.3x
EV / EBITDA 3.4x34.1x8.1x4.6x9.6x30.6x20.9x19.2x14.8x12.2x7.7x8.0x

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

47 /100

Moderate moat

How hard KBR'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 8 / 20

    Cash operating profit has been a median 7.3% of total assets over 8 years.

  • Pricing power 8 / 20

    Gross margin has been a median 11.7%, moving by 2.3 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 6.4%; its worst year was 1.7%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 5.3% of revenue.

  • Discipline 15 / 20

    The diluted share count fell 14.4% over five years.

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

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.99 +2% $8.0bn +3%
Next $4.05 +1% $8.5bn +6%

Next year's EPS estimate has moved −0.9% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 6 analysts raised KBR, Inc.'s forecast and 2 cut it.

Consensus EPS forecast KBR, Inc., last 90 days
$3.95 $4.00 $4.05 $4.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.00 Current fiscal year, 60 days ago: $3.99 Current fiscal year, 30 days ago: $3.99 Current fiscal year, 7 days ago: $4.00 Current fiscal year, Now: $3.99 $3.99 Next fiscal year, 90 days ago: $4.08 Next fiscal year, 60 days ago: $4.06 Next fiscal year, 30 days ago: $4.06 Next fiscal year, 7 days ago: $4.08 Next fiscal year, Now: $4.05 $4.05

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.00$4.08
60 days ago $3.99$4.06
30 days ago $3.99$4.06
7 days ago $4.00$4.08
Now $3.99$4.05

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.00 $1.12 +11.7%
Jun 2026 $0.90 $0.99 +9.5%
Mar 2026 $0.91 $0.96 +5.5%
Dec 2025 $0.95 $0.99 +4.4%

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

Management guidance

Earnings release, July 30, 2026
  • Revenues Fiscal Year 2026 $7.9bn to $8.36bn Maintained
    “Revenues $7.90B - $8.36B” source
  • Adjusted EPS Fiscal Year 2026 $3.87 to $4.22 Non-GAAP Maintained
    “Adjusted EPS $3.87 - $4.22” source
  • Adjusted EBITDA Fiscal Year 2026 $980m to $1,040m Non-GAAP Maintained
    “Adjusted EBITDA $980M - $1,040M” source
  • Adjusted operating cash flows Fiscal Year 2026 $560m to $600m Non-GAAP Maintained
    “Adjusted operating cash flows $560M - $600M” 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 KBR, Inc.'s revenue by +6.0% next year and +3.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.1%, weight 54%) , management guidance (+8.3%, weight 20%) and the company's own record (+2.0%, weight 26%) . How the weights are set.

Analyst recommendations

8 analysts, Oct 2026
Buy450%
Hold450%
Sell00%

Monthly trend

  1. Oct 2026448
  2. Sep 2026448
  3. Aug 2026448
  4. Jul 2026448

Counts of recommendations published by analysts covering KBR, Inc., 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
9.5%
of tradable shares
Days to cover
6.29
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.2%
of shares
Employees
36,000
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 −5.7%

$42.10 on October 31, 2025 to $39.69

ThenNowEffect
Revenue (last 12 months) $8.0bn $7.7bn −3.6%
Net margin 4.6% 5.5% +20.6%
P/E multiple 15.2x 11.9x −21.8%
Share count 132m 127m +3.7%

Biggest factor: p/e multiple.

Last 3 years −18.6%

$48.78 on November 3, 2023 to $39.69

ThenNowEffect
Revenue (last 12 months) $6.7bn $7.7bn +15.4%
P/S multiple 1.1x 0.7x −41.9%
Share count 154m 127m +21.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

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
KBR+56%+12%+6%+6%−30%+0%
Industry peers (median)+38%−8%+46%+48%+30%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KBR83%58%58%58%25%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KBR−12%−24%−24%−23%−34%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 58% from February 20, 2020 to March 18, 2020. Getting back needed a 138% gain, reached on December 31, 2020, 288 days after the low.

Price behaviour

52-week range
$29.79 – $44.37
From 52-week high
−10.6%
vs 50-day average
+8.4%
vs 200-day average
+7.7%
Volatility (1 year)
34%
Beta vs S&P 500
0.48

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
5 up, 7 down
typical move ±3.5%
After a week
5 up, 6 down
typical move ±5.6%
After a month
5 up, 6 down
typical move ±6.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −3.6% −2.1% — —
July 30, 2026 +1.9% +2.4% +4.6% +5.8%
May 5, 2026 −9.2% +2.2% −17.0% −6.6%
February 26, 2026 +3.5% −1.0% −1.7% −8.9%
October 30, 2025 −0.1% −0.8% −2.8% −2.6%
July 31, 2025 +2.1% −2.0% +9.5% +10.9%
May 6, 2025 +5.5% −0.4% +8.5% +1.5%
February 24, 2025 −1.8% −1.0% −1.7% +5.0%
October 23, 2024 −4.8% −0.7% −3.0% −14.4%
July 24, 2024 −2.9% −2.8% −2.9% −2.7%
April 30, 2024 −0.7% −1.9% +2.0% −1.7%
February 20, 2024 +6.4% −0.5% +7.5% +9.5%

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 KBR, Inc.’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.

Cash-secured put

Not offered: fundamentals grade C+ (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.

KBR, Inc. in five measures

Fundamentals grade C+
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) KBR, Inc.
$6.5B $7B $7.5B $8B $8.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $7B Revenue (TTM), FY24 Q1: $7.1B Revenue (TTM), FY24 Q2: $7.2B Revenue (TTM), FY24 Q3: $7.3B Revenue (TTM), FY24 Q4: $7.7B Revenue (TTM), FY25 Q1: $7.9B Revenue (TTM), FY25 Q2: $8B Revenue (TTM), FY25 Q3: $8B Revenue (TTM), FY25 Q4: $7.8B Revenue (TTM), FY26 Q1: $7.7B Revenue (TTM), FY26 Q2: $7.7B Revenue (TTM), FY26 Q3: $7.8B $7.8B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $7B
FY24 Q1 $7.1B
FY24 Q2 $7.2B
FY24 Q3 $7.3B
FY24 Q4 $7.7B
FY25 Q1 $7.9B
FY25 Q2 $8B
FY25 Q3 $8B
FY25 Q4 $7.8B
FY26 Q1 $7.7B
FY26 Q2 $7.7B
FY26 Q3 $7.8B
Revenue growth, TTM YoY KBR, Inc.
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.0% Revenue growth, TTM YoY, FY24 Q1: 7.9% Revenue growth, TTM YoY, FY24 Q2: 7.1% Revenue growth, TTM YoY, FY24 Q3: 7.3% Revenue growth, TTM YoY, FY24 Q4: 10.8% Revenue growth, TTM YoY, FY25 Q1: 11.9% Revenue growth, TTM YoY, FY25 Q2: 11.9% Revenue growth, TTM YoY, FY25 Q3: 9.2% Revenue growth, TTM YoY, FY25 Q4: 1.0% Revenue growth, TTM YoY, FY26 Q1: -2.8% Revenue growth, TTM YoY, FY26 Q2: -3.6% Revenue growth, TTM YoY, FY26 Q3: -2.4% -2.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.0%
FY24 Q1 7.9%
FY24 Q2 7.1%
FY24 Q3 7.3%
FY24 Q4 10.8%
FY25 Q1 11.9%
FY25 Q2 11.9%
FY25 Q3 9.2%
FY25 Q4 1.0%
FY26 Q1 -2.8%
FY26 Q2 -3.6%
FY26 Q3 -2.4%
Operating margin (TTM) KBR, Inc.
6% 7% 8% 9% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 6.5% Operating margin (TTM), FY24 Q1: 6.7% Operating margin (TTM), FY24 Q2: 8.9% Operating margin (TTM), FY24 Q3: 9.1% Operating margin (TTM), FY24 Q4: 8.5% Operating margin (TTM), FY25 Q1: 8.8% Operating margin (TTM), FY25 Q2: 8.8% Operating margin (TTM), FY25 Q3: 9.1% Operating margin (TTM), FY25 Q4: 10.0% Operating margin (TTM), FY26 Q1: 9.8% Operating margin (TTM), FY26 Q2: 9.5% Operating margin (TTM), FY26 Q3: 9.3% 9.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 6.5%
FY24 Q1 6.7%
FY24 Q2 8.9%
FY24 Q3 9.1%
FY24 Q4 8.5%
FY25 Q1 8.8%
FY25 Q2 8.8%
FY25 Q3 9.1%
FY25 Q4 10.0%
FY26 Q1 9.8%
FY26 Q2 9.5%
FY26 Q3 9.3%
FCF margin (TTM) KBR, Inc.
3% 4% 5% 6% 7% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 3.9% FCF margin (TTM), FY24 Q1: 4.5% FCF margin (TTM), FY24 Q2: 3.6% FCF margin (TTM), FY24 Q3: 6.4% FCF margin (TTM), FY24 Q4: 5.3% FCF margin (TTM), FY25 Q1: 5.6% FCF margin (TTM), FY25 Q2: 5.8% FCF margin (TTM), FY25 Q3: 6.3% FCF margin (TTM), FY25 Q4: 6.6% FCF margin (TTM), FY26 Q1: 6.7% FCF margin (TTM), FY26 Q2: 4.6% FCF margin (TTM), FY26 Q3: 4.2% 4.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 3.9%
FY24 Q1 4.5%
FY24 Q2 3.6%
FY24 Q3 6.4%
FY24 Q4 5.3%
FY25 Q1 5.6%
FY25 Q2 5.8%
FY25 Q3 6.3%
FY25 Q4 6.6%
FY26 Q1 6.7%
FY26 Q2 4.6%
FY26 Q3 4.2%

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

Financial statements

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

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Jan 2025 2025 Jan 2026 LTM Oct 2026
Income
Revenue 12.1 9.1 9.1 7.8 7.2 6.4 5.1 4.3 4.2 4.9 5.6 5.8 7.3 6.6 7.0 7.7 7.8 7.8
Gross profit — — 0.6 0.5 0.4 −0.1 0.3 0.1 0.4 0.6 0.7 0.7 0.8 0.8 1.0 1.1 1.2 1.1
EBITDA 0.6 0.7 0.6 0.4 0.4 −0.7 0.3 0.1 0.3 0.5 0.5 0.2 0.4 0.5 0.6 0.8 0.9 0.9
Operating income 0.5 0.6 0.6 0.3 0.3 −0.8 0.3 0.0 0.3 0.5 0.4 0.1 0.2 0.3 0.4 0.7 0.8 0.7
Net income 0.3 0.3 0.5 0.1 0.1 −1.3 0.2 −0.1 0.4 0.3 0.2 −0.1 0.0 0.2 −0.3 0.4 0.4 0.4
Diluted EPS $1.79 $2.07 $3.16 $0.97 $0.50 −$8.66 $1.40 −$0.49 $3.05 $1.99 $1.41 −$0.44 $0.19 $1.26 −$1.96 $2.79 $3.21 $3.49
Growth (year on year)
Revenue +4.5% −24.8% 0.0% −14.6% −7.2% −11.8% −19.9% −16.2% −2.3% +17.8% +14.8% +2.3% +27.3% −10.6% +6.0% +10.8% +1.0% −2.4%
EBITDA +0.2% +13.5% −4.3% −43.3% +3.3% −292.0% — −81.7% — +70.2% −12.2% −63.1% +119.2% +27.3% +22.9% +38.1% +16.2% −0.6%
Operating income −0.9% +13.6% −3.6% −49.1% +3.0% −357.8% — −93.9% — +77.3% −22.6% −84.3% — +48.5% +30.9% +46.8% +18.1% +0.3%
Net income −9.1% +12.8% +46.8% −70.0% — — — −134.5% — −35.0% −28.1% −131.2% — — −239.5% — +10.7% +16.3%
Diluted EPS −2.7% +15.6% +52.7% −69.3% — — — −135.0% — −34.8% −29.1% −131.2% — — −255.6% — +15.1% +20.0%
Margins
Gross margin — — 7.0% 6.7% 5.8% −1.0% 6.4% 2.6% 10.5% 11.9% 11.6% 11.5% 11.0% 12.6% 14.0% 14.3% 14.8% 14.7%
EBITDA margin 4.9% 7.4% 7.1% 4.7% 5.2% −11.3% 6.8% 1.5% 7.5% 10.8% 8.3% 3.0% 5.1% 7.3% 8.5% 10.6% 12.2% 11.4%
Operating margin 4.4% 6.7% 6.4% 3.8% 4.3% −12.5% 6.1% 0.4% 6.3% 9.5% 6.4% 1.0% 3.1% 5.2% 6.5% 8.5% 10.0% 9.3%
Net margin 2.4% 3.6% 5.3% 1.9% 1.0% −19.8% 4.0% −1.6% 10.4% 5.7% 3.6% −1.1% 0.4% 2.9% −3.8% 4.9% 5.3% 5.7%
Free-cash-flow margin −0.6% 5.3% 6.2% 0.9% 3.0% 1.8% 0.7% 1.2% 4.4% 3.0% 4.2% 6.0% 3.4% 5.0% 3.9% 5.3% 6.6% 4.2%
Cash flow
Cash from operations −0.0 0.5 0.7 0.1 0.3 0.2 0.0 0.1 0.2 0.2 0.3 0.4 0.3 0.4 0.3 0.5 0.6 0.4
Capital spending 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1
Free cash flow −0.1 0.5 0.6 0.1 0.2 0.1 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.3 0.3 0.4 0.5 0.3
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 — — — — —
Free cash flow after stock pay −0.1 0.5 0.5 0.1 0.2 0.1 0.0 0.0 0.2 0.1 0.2 0.3 0.2 — — — — —
Balance sheet
Cash 0.9 0.8 1.0 1.1 1.1 1.0 0.9 0.5 0.4 0.7 0.7 0.4 0.4 0.4 0.3 0.3 0.5 0.4
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.5 1.2 1.2 1.6 1.9 1.7 1.8 2.6 2.6 2.5
Net debt (negative = net cash) −0.9 −0.8 −1.0 −1.1 −1.1 −1.0 −0.9 0.1 0.0 0.5 0.5 1.2 1.5 1.4 1.5 2.2 2.1 2.1
Diluted shares 161m 157m 151m 149m 149m 146m 144m 142m 141m 141m 142m 142m 141m 156m 135m 134m 129m 127m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Buybacks 0.0 0.2 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.2 0.1 0.2 0.3 0.1
Total returned 0.1 0.3 0.1 0.1 0.0 0.2 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.3 0.2 0.3 0.4 0.1

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

1 of 7 checks passed · October 2, 2026
What it owns · $7.0bn
Short-term assets $2.3bnLonger-term assets $4.7bn
What it owes, and who funded it · $7.0bn
Short-term liabilities $2.4bnLonger-term liabilities $2.8bnShareholders' equity $1.8bn
  • Short-term assets cover short-term liabilities $2.3bn of assets due within a year against $2.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.3bn short-term assets against $2.8bn of longer-dated liabilities.
  • More cash than debt $439m of cash against $2.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 144% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 120% to 144% over five years.
  • A year's operating cash flow covers at least 20% of debt $382m of operating cash flow against $2.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $729m against $145m of interest.

From KBR, Inc.'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)
$54M
Dividends (TTM)
$84M
Returned to shareholders
42%
of free cash flow
Buybacks, last 3 fiscal years
$685M
Diluted share count
−3.1%
year over year
Total shareholder yield
2.8%
dividends 1.7% + buybacks 1.1% of market value
Dividend payout ratio
19%
of net income paid out
Sales & admin spending
7.4%
of revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated KBR PRIM DY APG TPC STN Median
Revenue, last 12 months $7.8bn $7.3bn $6.9bn $8.9bn $5.9bn $5.8bn $1.5bn
Revenue growth, last 12 months −2.4% 5.1% 37.8% 16.4% 24.7% 6.5% 21.2%
Revenue growth, 3-year average 4.6% 11.3% 19.4% 9.0% 16.4% — 11.3%
Revenue growth, latest quarter 5.0% −10.7% 45.6% 22.5% 19.2% — 26.9%
Gross margin 14.7% 8.6% 19.5% 31.1% 11.5% 42.4% 13.0%
Operating margin 9.3% 2.9% — 7.2% 4.5% — 4.1%
Operating margin, 3-year average 9.2% 4.4% — 6.7% 1.6% — 5.4%
Net margin 5.7% 1.9% 4.8% 4.1% 2.1% 5.9% 1.9%
Cash from operations / revenue 4.9% 2.7% 10.4% 8.7% 13.4% 10.6% 4.4%
Free-cash-flow margin 4.2% 1.2% 6.8% 7.6% 10.4% 8.8% 2.3%
Free-cash-flow margin, 3-year average 5.6% 3.8% 3.2% 7.6% 10.1% 7.2% 5.5%
Stock pay / revenue — 0.3% 0.5% 0.7% 2.5% 0.5% 0.7%
Change in share count −3.1% −0.2% 2.1% −6.2% 2.2% 0.0% 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 -2.4% 21.2% 35 of 43
Change in growth rate Growth +1.3pp +3.2pp 27 of 43
Gross margin Profitability 14.7% 11.8% 17 of 39
Operating margin Profitability 9.3% 4.1% 9 of 39
Net margin Profitability 5.7% 2.1% 11 of 42
Free-cash-flow margin Cash generation 4.2% 2.3% 18 of 43
Long-term debt as % of assets Balance sheet 28.3% 16.2% 26 of 35
Change in share count Balance sheet -3.1% 1.9% 6 of 40

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

Where the revenue comes from

Fiscal year to January 2, 2026
Segments
Line of business Revenue Share YoY
Mission Technology Solutions $5.6B 71.7% ▲ 0.5%
Sustainable Technology Solutions $2.2B 28.3% ▲ 2.3%
Corporate $0 0.0% —
Geography
Region Revenue Share YoY
United States $4.2B 54.5% ▲ 4.9%
Europe $1.6B 20.3% ▼ 16.4%
Middle East $790M 10.1% ▲ 8.1%
Australia $548M 7.0% ▲ 4.2%
Africa $253M 3.2% ▲ 25.9%
Other Countries $225M 2.9% ▲ 39.8%
Asia $142M 1.8% ▼ 6.6%

From KBR, Inc.'s 10-K filed February 26, 2026, 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
$4.5B
Institutions reporting
358
Shares held vs prior quarter
▲ 7.5%
Positions opened / closed
50 / 65

Top buyers and sellers, Q2 2026: 198 institutions bought and 176 sold ; the biggest buyer was UBS Group AG (+2.5M shares) and the biggest seller Wellington Management Group LLP (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $623M 18.1M 13.8% ▼ 4.8%
Blackrock, Inc. $480M 13.9M 10.6% ▲ 2.9%
Invesco Ltd. $288M 8.4M 6.4% ▲ 27.8%
Vanguard Portfolio Management LLC $213M 6.2M 4.7% ▲ 0.7%
Vanguard Capital Management LLC $197M 5.7M 4.4% ▲ 0.7%
Neuberger Berman Group LLC $159M 4.6M 3.5% ▲ 63.2%
State Street Corp $156M 4.5M 3.5% ▲ 8.9%
Dimensional Fund Advisors LP $116M 3.4M 2.6% ▲ 25.9%
UBS Group AG $101M 2.9M 2.2% ▲ 517.9%
Massachusetts Financial Services Co $82.2M 2.4M 1.8% ▲ 0.8%
Geode Capital Management, LLC $81M 2.3M 1.8% ▼ 0.4%
Snyder Capital Management L P $78.1M 2.3M 1.7% ▲ 0.8%

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 KBR, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $945,160 4 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $945,160 net buying
Insider Date Trade Shares Price Value
Moore Jack B Director May 20, 2026 Buy 4,000 $31.44 $125,760
Sabater Carlos A. Director May 19, 2026 Buy 14,500 $32.47 $470,815
Von Thaer Lewis Director May 14, 2026 Buy 3,000 $30.77 $92,310
Evans Shad E. EVP & Chief Financial Officer May 13, 2026 Buy 8,375 $30.60 $256,275

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.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • May 5, 2026
  • February 26, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on KBR, Inc. 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.

KBR, Inc. in brief

What does KBR, Inc. do?
KBR, Inc. is a US-listed company in the construction & engineering industry. Its financial year ends in December.
What is KBR, Inc.'s stock ticker?
KBR, Inc. trades under the ticker KBR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is KBR, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, KBR, Inc. reported revenue of $7.8B, 2.4% lower than a year earlier, according to its SEC filings.
What is KBR, Inc.'s free cash flow?
KBR, Inc.'s free-cash-flow margin is 4.2% of revenue over the trailing twelve months, ranking 18 of the 43 construction & engineering companies we cover.
What is KBR, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of KBR, Inc.'s free cash flow after stock-based pay gives ~$61 per share in the base case, and ~$42–$86 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are KBR, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Invesco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is KBR, Inc. buying back stock, and does it pay a dividend?
KBR, Inc. spent $54M on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is KBR, Inc.'s market cap?
On November 2, 2026, KBR, Inc.'s market capitalisation was about $5B, with a price-to-earnings ratio of 11.4 and net debt of $2.1B. Market figures come from third-party market data and may be delayed.
Does KBR, Inc. pay a dividend?
Yes: KBR, Inc. paid $84M in dividends over the trailing twelve months, a dividend yield of 1.68% and a payout ratio of 19.0%.
How much debt does KBR, Inc. have?
KBR, Inc.'s debt-to-equity ratio is 144.0%, from its latest balance sheet (119.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are KBR, Inc.'s competitors?
In our Construction & Engineering peer group, the companies closest to KBR, Inc. are Primoris Services Corp, Dycom Industries Inc, Api Group Corp, Tutor Perini Corp and Stantec Inc. The side-by-side comparison below sets their revenue, margins and growth against KBR, Inc.'s.
Are insiders buying or selling KBR, Inc. stock?
Over the last 12 months, KBR, Inc.'s directors and officers reported 4 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is KBR, Inc.'s next earnings date?
Around January 25, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — KBR, Inc. announces its own schedule.