Aecom (ACM) intrinsic value & 10-year financials
Aecom (ACM) has a Graham intrinsic value of $139.84 per share. At $58.94 on Oct 17, 2026, the stock trades 58% below that value. Over the last 10 fiscal years revenue shrank 0.8% a year to $16.1B, with an average return on invested capital of 10.2%.
- Graham intrinsic value
- $139.84
- Share price (Oct 17, 2026)
- $58.94
- Price vs Graham value
- 58% below
- Market cap
- $7.9B
- Revenue (FY2025)
- $16.1B
- Revenue growth (10-yr CAGR)
- -0.8%
- ROIC (10-yr avg)
- 10.2%
- Free cash flow (FY2025)
- $684.9M
ACM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $16.1B | $561.8M | $4.21 | $684.9M | 6.4% | 22.8% |
| FY2024 | $16.1B | $402.3M | $2.95 | $707.9M | 5.1% | 19.6% |
| FY2023 | $14.4B | $55.3M | $0.39 | $590.4M | 2.3% | 5.0% |
| FY2022 | $13.1B | $310.6M | $2.18 | $576.6M | 4.9% | 12.7% |
| FY2021 | $13.3B | $173.2M | $1.16 | $568.4M | 4.7% | 11.4% |
| FY2020 | $13.2B | -$186.4M | -$1.16 | $215.0M | 2.9% | 8.0% |
| FY2019 | $20.2B | -$261.1M | -$1.66 | $677.0M | 0.1% | 0.4% |
| FY2018 | $20.2B | $136.5M | $0.84 | $661.3M | 2.1% | 6.3% |
| FY2017 | $18.2B | $339.4M | $2.13 | $610.3M | 3.6% | 9.6% |
| FY2016 | $17.4B | $96.1M | $0.62 | $622.8M | 2.2% | 5.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AECOM is facing top-line stagnation, with revenue contracting over the decade.
AECOM returns on capital have been average, hovering around 10.2% ROIC over the decade.
Over the decade, AECOM shows that management has aggressively returned capital to shareholders by retiring 14.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AECOM is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $139.84 per share.