A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
FLUOR CORP
FLR
$8.6B
Mkt Cap
$52.19
-2.01%
FLUOR CORP (FLR) has a 5-year average return on invested capital (ROIC) of 13.8%. This indicates solid capital allocation.
FLUOR CORP (FLR) has a market capitalization of $7.4B. It is classified as a mid-cap stock.
FLUOR CORP (FLR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 15.27%.
FLUOR CORP (FLR) operates in the Heavy Construction Other Than Bldg Const - Contractors industry, within the Industrials sector.
FLUOR CORP (FLR) reported annual revenue of $15.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
FLUOR CORP (FLR) has a net profit margin of -0.3%. The company is currently unprofitable.
FLUOR CORP (FLR) generated $-437 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Fluor is a leading global professional services and engineering, procurement, and construction (EPC) firm serving diverse industries including life sciences, advanced technologies, data centers, mining and metals, power generation, infrastructure, chemicals, liquefied natural gas (LNG), and oil and gas production. The company operates through three principal segments—Urban Solutions, Energy Solutions, and Mission Solutions—delivering project management and technical solutions emphasizing safety, operational excellence, and capital efficiency. Fluor's business model emphasizes reimbursable contracts (81% of backlog as of year-end 2025), which provide more predictable cash flows and lower execution risk compared to fixed-price work, and the company pursues contracts with fair and balanced commercial terms that reward value creation. The company maintains a global execution platform with distributed centers and local partnerships that enable cost-efficient delivery of complex projects in geographically challenging locations, supported by a commitment to safety culture, data-driven execution, and artificial intelligence applications. Fluor's competitive strengths include its ability to execute large, complex projects across multiple industries, long-standing client relationships, market diversification that mitigates cyclicality, and systematic risk management capabilities. The company serves a broad customer base spanning private sector clients in energy, infrastructure, and advanced manufacturing, as well as the U.S. federal government and foreign governments, with a geographic footprint enabling rapid resource mobilization worldwide.
【Market recovery and backlog conversion】 Management expects significantly higher new awards in 2026 compared to 2025, with a book-to-burn ratio exceeding one, driven by high levels of front-end work and detailed project negotiations weighted toward the second half of the year. The company is actively pursuing opportunities across LNG, mining and metals, advanced technologies, and nuclear fuels, with confidence supported by client conversations and expected final investment decisions. Fluor anticipates meaningful contributions from the conversion of early-stage front-end awards into full EPC releases, particularly in mining and metals where market conditions remain strong, alongside growth in chemicals and power markets as execution accelerates. The company is deploying additional resources into target markets including mining and metals, power, advanced technologies, and LNG, leveraging its asset-light model and flexible workforce to capture near and medium-term opportunities. Management remains focused on maintaining financial discipline, pursuing fair contract terms with reimbursable structures, and returning capital to shareholders through share repurchases while investing in capabilities and selective tuck-in acquisitions.
| Metric | Target | Period |
|---|---|---|
| Adjusted EBITDA | $525 million–$560 million | FY2026 |
| Adjusted EPS | $2.60–$2.80 per share | FY2026 |
| Operating Cash Flow | $300 million | FY2026 |
| Share Repurchases | $1.4 billion | FY2026 |
| Urban Solutions Segment Margin | 2.5%–3.5% | FY2026 |
| Energy Solutions Segment Margin | 5%–6% | FY2026 |
| Mission Solutions Segment Margin | 6% | FY2026 |
Adjusted EBITDA (FY2026): “Assuming we see a resolution within that window, we are narrowing our full year 2026 adjusted EBITDA guidance to $525 million-$560 million.”
Adjusted EPS (FY2026): “Based on our expected tempo of share repurchases, we anticipate adjusted EPS to be between $2.60 and $2.80/ share.”
Operating Cash Flow (FY2026): “Our expectations for operating cash flow remain at $300 million, excluding the tax bill on NuScale that I mentioned earlier.”
Share Repurchases (FY2026): “For all of 2026, we anticipate spending about $1.4 billion on share repurchases, consistent with our capital return framework.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 15.2B | 15.5B | 16.3B | 15.5B | 13.7B | 14.2B |
| Net Income | 350M | -51M | 2.1B | 83M | 106M | -464M |
| EPS | $1.61 | $-0.31 | $12.30 | $0.54 | $0.73 | $-3.04 |
| Free Cash Flow | -41M | -437M | 664M | 106M | -44M | -50M |
| ROIC | -52.5% | -1.1% | 52.6% | 7.5% | 27.4% | -17.5% |
| Gross Margin | -1.6% | -0.8% | 3.5% | 3.1% | 2.6% | 3.2% |
| Debt/Equity | 0.37 | 0.33 | 0.28 | 0.60 | 0.63 | 0.86 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.19 | $0.27 | $0.12 |
| Operating Income | -377M | -378M | 463M | 147M | 209M | -273M |
| Operating Margin | -2.5% | -2.4% | 2.8% | 0.9% | 1.5% | -1.9% |
| ROE | 12.2% | -1.4% | 72.8% | 4.5% | 6.7% | -38.3% |
| Shares Outstanding | 142M | 165M | 174M | 154M | 145M | 153M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 21.5B | 18.1B | 19.0B | 14.8B | 18.9B | 15.5B | 15.8B | 14.2B | 13.7B | 15.5B | 16.3B | 15.5B | 15.2B |
| Gross Margin | 6.5% | 6.0% | 4.2% | 1.9% | 3.0% | -1.3% | 2.6% | 3.2% | 2.6% | 3.1% | 3.5% | -0.8% | -1.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 183M | 168M | 191M | 184M | 121M | 140M | 215M | 226M | 237M | 232M | 203M | 196M | 221M |
| EBIT | 893M | 703M | 570M | 213M | 510M | -828M | -232M | -273M | 209M | 147M | 463M | -378M | -377M |
| Op. Margin | 4.1% | 3.9% | 3.0% | 1.4% | 2.7% | -5.4% | -1.5% | -1.9% | 1.5% | 0.9% | 2.8% | -2.4% | -2.5% |
| Net Income | 511M | 413M | 281M | 191M | 173M | -1.5B | -435M | -464M | 106M | 83M | 2.1B | -51M | 350M |
| Net Margin | 2.4% | 2.3% | 1.5% | 1.3% | 0.9% | -9.8% | -2.8% | -3.3% | 0.8% | 0.5% | 13.1% | -0.3% | 2.3% |
| Non-Recurring | 34M | 31M | 22M | 23M | 147M | 341M | 550M | 582M | 83M | -150M | 0 | 336M | 336M |
| Returns on Capital | |||||||||||||
| ROIC | 32.8% | 24.0% | 14.9% | 5.2% | 11.0% | -39.9% | -14.8% | -17.5% | 27.4% | 7.5% | 52.6% | -1.1% | -52.5% |
| ROE | 14.9% | 13.5% | 9.2% | 5.9% | 5.6% | -70.4% | -34.6% | -38.3% | 6.7% | 4.5% | 72.8% | -1.4% | 12.2% |
| ROA | 6.2% | 5.2% | 3.3% | 2.1% | 1.9% | -18.1% | -5.7% | -6.4% | 1.5% | 1.2% | 26.6% | -0.6% | 4.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 643M | 849M | 706M | 602M | 162M | 219M | 186M | 25M | 31M | 212M | 828M | -387M | 9.0M |
| Free Cash Flow | 318M | 609M | 470M | 319M | -49M | 38M | 73M | -50M | -44M | 106M | 664M | -437M | -41M |
| Owner Earnings | 402M | 598M | 440M | 336M | -98M | 12M | 59M | -81M | -61M | 90M | 724M | -485M | -87M |
| CapEx | 325M | 240M | 236M | 283M | 211M | 181M | 113M | 75M | 75M | 106M | 164M | 50M | 50M |
| Maint. CapEx | 193M | 190M | 226M | 225M | 217M | 170M | 105M | 74M | 73M | 74M | 73M | 68M | 66M |
| Growth CapEx | 132M | 50M | 10.0M | 58M | 0 | 10M | 8.0M | 1.0M | 2.0M | 32M | 91M | 0 | 0 |
| D&A | 193M | 190M | 226M | 225M | 217M | 170M | 105M | 74M | 73M | 74M | 73M | 68M | 66M |
| CapEx/OCF | 50.5% | 28.3% | 33.4% | 47.0% | 130.1% | 82.6% | 60.8% | 300.0% | 241.9% | 50.0% | 19.8% | N/A | 555.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 126M | 125M | 118M | 118M | 119M | 118M | 29M | 19M | 39M | 29M | 0 | 0 | 0 |
| Dividend Yield | 1.2% | 1.8% | 1.8% | 1.5% | 1.7% | 3.1% | 1.7% | 0.6% | 1.0% | 0.6% | N/A | N/A | N/A |
| Share Buybacks | 906M | 510M | 9.7M | 0 | 50M | 0 | 0 | 0 | 0 | 0 | 125M | 754M | 1.1B |
| Buyback Yield | 10.5% | 7.9% | 0.1% | N/A | 1.2% | N/A | N/A | N/A | N/A | N/A | 1.4% | 11.2% | 15.3% |
| Stock-Based Comp | 48M | 61M | 40M | 41M | 43M | 36M | 22M | 32M | 19M | 48M | 31M | 30M | 30M |
| Debt Repayment | 7.7M | 0 | 917M | 53M | 5.1M | 0 | 0 | 525M | 41M | 249M | 57M | 37M | 37M |
| Balance Sheet | |||||||||||||
| Net Debt | -1.1B | -1.2B | -361M | -346M | -264M | -314M | -516M | -1.1B | -1.5B | -1.4B | -1.9B | -1.1B | -2.2B |
| Cash & Equiv. | 2.0B | 1.9B | 1.9B | 1.8B | 1.8B | 2.0B | 2.2B | 2.2B | 2.4B | 2.5B | 2.8B | 2.1B | 3.2B |
| Long-Term Debt | 992M | 987M | 1.5B | 1.6B | 1.7B | 1.7B | 1.7B | 1.2B | 978M | 1.2B | 1.1B | 1.1B | 1.1B |
| Debt/Equity | 0.33 | 0.33 | 0.51 | 0.48 | 0.61 | 1.14 | 1.66 | 0.86 | 0.63 | 0.60 | 0.28 | 0.33 | 0.37 |
| Interest Coverage | 30.1 | 15.7 | 8.2 | 3.2 | 6.6 | -12.8 | -3.2 | -3.0 | 3.5 | 2.5 | 10.1 | -9.0 | -9.0 |
| Equity | 3.1B | 3.0B | 3.1B | 3.3B | 2.8B | 1.5B | 1.0B | 1.4B | 1.8B | 1.9B | 3.9B | 3.2B | 2.9B |
| Total Assets | 8.2B | 7.6B | 9.2B | 9.3B | 8.9B | 8.0B | 7.3B | 7.1B | 6.8B | 7.0B | 9.1B | 8.2B | 7.9B |
| Total Liabilities | 5.0B | 4.5B | 6.0B | 5.8B | 5.9B | 6.4B | 6.0B | 5.5B | 4.8B | 4.9B | 5.2B | 5.0B | 10M |
| Intangibles | 23M | 24M | 190M | 188M | 158M | 107M | 78M | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 3.6B | 3.4B | 3.6B | 3.7B | 3.3B | 1.7B | 1.2B | 791M | 896M | 979M | 3.1B | 3.1B | 3.2B |
| Working Capital | 2.4B | 2.2B | 1.8B | 2.0B | 1.7B | 1.5B | 1.5B | 1.6B | 1.8B | 1.9B | 2.1B | 3.1B | 2.7B |
| Current Assets | 5.8B | 5.1B | 5.6B | 5.6B | 5.4B | 5.4B | 5.0B | 5.2B | 5.0B | 5.1B | 5.2B | 6.4B | 6.1B |
| Current Liabilities | 3.3B | 2.9B | 3.8B | 3.6B | 3.7B | 3.9B | 3.6B | 3.6B | 3.2B | 3.2B | 3.1B | 3.4B | 3.4B |
| Per Share Data | |||||||||||||
| EPS | 3.20 | 2.81 | 2.00 | 1.09 | 1.23 | -10.87 | -3.10 | -3.04 | 0.73 | 0.54 | 12.30 | -0.31 | 1.61 |
| Owner EPS | 2.52 | 4.08 | 3.13 | 1.91 | -0.69 | 0.09 | 0.42 | -0.53 | -0.42 | 0.59 | 4.15 | -2.95 | -0.61 |
| Book Value | 19.48 | 20.42 | 22.21 | 19.04 | 20.10 | 10.62 | 7.34 | 9.13 | 12.30 | 12.62 | 22.64 | 19.72 | 20.29 |
| Cash Flow/Share | 4.02 | 5.78 | 5.02 | 3.43 | 1.15 | 1.56 | 1.33 | 0.16 | 0.21 | 1.38 | 4.75 | -2.35 | 2.94 |
| Dividends/Share | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.73 | 0.20 | 0.12 | 0.27 | 0.19 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 159.7M | 146.8M | 140.7M | 175.6M | 141.0M | 140.0M | 140.3M | 152.6M | 145.2M | 153.7M | 174.4M | 164.5M | 141.6M |
| Valuation | |||||||||||||
| P/E Ratio | 17.0 | 15.6 | 24.6 | 44.8 | 24.8 | N/A | N/A | N/A | 47.5 | 73.2 | 4.1 | N/A | 32.5 |
| P/FCF | 27.3 | 10.6 | 14.7 | 26.9 | N/A | 65.8 | 31.0 | N/A | N/A | 57.3 | 13.1 | N/A | N/A |
| EV/EBIT | 8.5 | 7.5 | 11.5 | 38.6 | 7.9 | N/A | N/A | N/A | 16.9 | 31.6 | 14.8 | N/A | N/A |
| Price/Book | 2.8 | 2.1 | 2.2 | 2.6 | 1.5 | 1.7 | 2.2 | 2.7 | 2.8 | 3.1 | 2.2 | 2.1 | 2.6 |
| Price/Sales | 0.5 | 0.4 | 0.3 | 0.5 | 0.4 | 0.2 | 0.1 | 0.2 | 0.3 | 0.3 | 0.5 | 0.5 | 0.5 |
| FCF Yield | 3.7% | 9.5% | 6.8% | 3.7% | -1.1% | 1.5% | 3.2% | -1.3% | -0.9% | 1.7% | 7.6% | -6.5% | -0.6% |
| Market Cap | 8.7B | 6.4B | 6.9B | 8.6B | 4.3B | 2.5B | 2.3B | 3.8B | 5.0B | 6.1B | 8.7B | 6.7B | 7.4B |
| Avg. Price | 64.94 | 47.17 | 46.54 | 44.48 | 49.30 | 27.18 | 12.25 | 19.31 | 27.01 | 33.39 | 45.00 | 43.45 | 52.19 |
| Year-End Price | 54.30 | 43.87 | 49.14 | 48.87 | 30.56 | 17.95 | 16.12 | 24.67 | 34.66 | 39.51 | 50.06 | 40.82 | 52.19 |
FLUOR CORP passes 3 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 13.8% with a gross margin of 2.3%. Total shareholder yield (buybacks) is 15.3%. At current prices, the estimated annualized return to fair value is +50.3%.
FLUOR CORP (FLR) has a debt-to-equity ratio of 0.33. This indicates a conservatively financed balance sheet.
FLUOR CORP (FLR) reported earnings per share (EPS) of $-0.31 in its most recent fiscal year.
FLUOR CORP (FLR) has a return on equity (ROE) of -1.4%. A negative ROE may indicate losses or negative equity.
FLUOR CORP (FLR) has a 5-year average gross margin of 2.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for FLUOR CORP (FLR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FLUOR CORP (FLR) has a book value per share of $19.72, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects significantly higher new awards in 2026 compared to 2025, with a book-to-burn ratio exceeding one, driven by high levels of front-end work and detailed project negotiations weighted toward the second half of the year. The company is actively pursuing opportunities across LNG, mining and metals, advanced technologies, and nuclear fuels, with confidence supported by client conversations and expected final investment decisions. Fluor anticipates meaningful contributions from the conversion of early-stage front-end awards into full EPC releases, particularly in mining and metals where market conditions remain strong, alongside growth in chemicals and power markets as execution accelerates. The company is deploying additional resources into target markets including mining and metals, power, advanced technologies, and LNG, leveraging its asset-light model and flexible workforce to capture near and medium-term opportunities. Management remains focused on maintaining financial discipline, pursuing fair contract terms with reimbursable structures, and returning capital to shareholders through share repurchases while investing in capabilities and selective tuck-in acquisitions.
Based on recent SEC filings and earnings calls, FLUOR CORP (FLR) has provided the following forward guidance: Adjusted EBITDA: $525 million–$560 million (FY2026); Adjusted EPS: $2.60–$2.80 per share (FY2026); Operating Cash Flow: $300 million (FY2026); Share Repurchases: $1.4 billion (FY2026); Urban Solutions Segment Margin: 2.5%–3.5% (FY2026), plus 2 additional metrics.
Urban Solutions Segment Margin (FY2026): “our expectations for full year reported segment margins are 2.5%-3.5% in Urban, reflecting the mining charge.”
Energy Solutions Segment Margin (FY2026): “5%-6% in Energy Solutions”
Mission Solutions Segment Margin (FY2026): “and 6% in Mission Solutions.”