Fluor Corp. (FLR) intrinsic value & 10-year financials
Fluor Corp. (FLR) has a Graham intrinsic value of $42.23 per share. At $46.95 on Oct 17, 2026, the stock trades 11% above that value. Over the last 10 fiscal years revenue shrank 2.3% a year to $15.5B, with an average return on invested capital of 8.0%.
- Graham intrinsic value
- $42.23
- Share price (Oct 17, 2026)
- $46.95
- Price vs Graham value
- 11% above
- Market cap
- $7.7B
- Revenue (FY2025)
- $15.5B
- Revenue growth (10-yr CAGR)
- -2.3%
- ROIC (10-yr avg)
- 8.0%
- Free cash flow (FY2025)
- -$437.0M
FLR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $15.5B | -$51.0M | -$0.31 | -$437.0M | -2.4% | -9.7% |
| FY2024 | $16.3B | $2.1B | $12.30 | $664.0M | 2.8% | 25.5% |
| FY2023 | $15.5B | $139.0M | $0.54 | $106.0M | 0.9% | 13.9% |
| FY2022 | $13.7B | $145.0M | $0.73 | -$44.0M | 1.5% | 25.2% |
| FY2021 | $12.4B | -$440.2M | — | -$49.7M | -0.5% | -13.0% |
| FY2020 | $15.7B | -$435.0M | -$3.10 | $72.4M | 2.0% | 36.3% |
| FY2019 | $14.3B | -$1.5B | -$10.87 | $38.2M | -2.7% | -19.0% |
| FY2018 | $19.2B | $224.8M | $1.59 | -$48.8M | 1.7% | 5.8% |
| FY2017 | $19.5B | $191.4M | $1.36 | $318.9M | 1.1% | 4.4% |
| FY2016 | $19.0B | $281.4M | $2.00 | $470.0M | — | 10.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FLUOR CORP is facing top-line stagnation, with revenue contracting over the decade.
FLUOR CORP returns on capital have been average, hovering around 8.0% ROIC over the decade.
FLUOR CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, FLUOR CORP is modeled at -2.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $42.23 per share.