A Business at a Glance
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KBR, INC.
KBR
$4.8B
Mkt Cap
$36.93
+1.60%
KBR, INC. (KBR) has a current P/E ratio of 11.5, compared to its historical median P/E of 12.2. The stock is currently considered Fair based on its historical valuation range.
KBR, INC. (KBR) has a 5-year average return on invested capital (ROIC) of 11.0%. This indicates solid capital allocation.
KBR, INC. (KBR) has a market capitalization of $4.8B. It is classified as a mid-cap stock.
Yes, KBR, INC. (KBR) pays a dividend with a trailing twelve-month yield of 1.76%. The company also returns capital through share buybacks, with a buyback yield of 6.89%.
Based on historical P/E analysis, KBR, INC. (KBR) appears fair. The current P/E of 11.5 is 6% below its historical median of 12.2. The estimated fair value CAGR (P/E method) is 41.5%.
KBR, INC. (KBR) operates in the Heavy Construction Other Than Bldg Const - Contractors industry, within the Industrials sector.
KBR, INC. (KBR) reported annual revenue of $7.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
KBR delivers science, technology, engineering, and logistics support solutions to the U.S. federal government, allied nations, and commercial clients globally, operating through two primary segments: Mission Tech Services (MTS) and Sustainable Tech Solutions (STS). The Mission Tech segment provides full-lifecycle defense and national security support including systems engineering, C5ISR, cyber analytics, space domain awareness, test and evaluation, and program management to U.S. military agencies, intelligence organizations, and allied governments in the U.K. and Australia, with long-term contracts providing stable revenue streams and high barriers to entry through technical differentiation and mission-critical capabilities. The Sustainable Tech segment designs and licenses proprietary process technology for energy production and chemical manufacturing, offers high-end advisory services on energy transition and decarbonization, and provides digitally-enabled asset optimization solutions to governments and industrial companies, generating revenue through technology licensing, equipment sales, integration services, and recurring operations and maintenance work. KBR's business model emphasizes high-margin, recurring revenue streams with disciplined capital deployment, targeting organic growth, strategic acquisitions to move upmarket and expand capabilities, and shareholder returns through dividends and share repurchases, while maintaining leverage discipline and strong cash conversion above 80 percent.
【Spin-driven strategic focus】 Management is advancing a planned separation of MTS and STS into two independent publicly traded companies, with an effective spin date targeted for January 4, 2027, to enhance strategic focus, organizational agility, and capital allocation flexibility for each business. The company is reaffirming full-year 2026 guidance across all metrics despite a wider range of potential outcomes in the government services portfolio, with Mission Tech expected to be flat to modestly down year-over-year due to timing-driven protest delays, while Sustainable Tech is expected to deliver mid-teens revenue growth driven by award momentum and elevated service demand. Management expects continued margin discipline and strong cash generation to support both the spin transaction execution and ongoing capital deployment priorities, with work under contract covering approximately 67 percent of 2026 STS revenue guidance and 91 percent of MTS revenue guidance, providing good visibility into near-term execution.
| Metric | Target | Period |
|---|---|---|
| Revenue | $7.9 billion–$8.36 billion | FY2026 |
| Adjusted EBITDA | $980 million–$1.04 billion | FY2026 |
| Adjusted EPS | <UNKNOWN> | FY2026 |
| Adjusted Operating Cash Flow | <UNKNOWN> | FY2026 |
| CapEx | $40 million–$50 million | FY2026 |
| Effective Tax Rate | 26%–28% | FY2026 |
| STS Backlog | approximately $4.7 billion | Q1 FY2026 |
| MTS Backlog and Options | $18.5 billion | Q1 FY2026 |
Revenue (FY2026): “for fiscal 2026, we are guiding revenues in the range of $7.9 billion-$8.36 billion”
Adjusted EBITDA (FY2026): “Adjusted EBITDA of $980 million-$1.04 billion”
Adjusted EPS (FY2026): “There are no changes to our adjusted EBITDA, adjusted EPS, or adjusted operating cash flow guidance.”
Adjusted Operating Cash Flow (FY2026): “There are no changes to our adjusted EBITDA, adjusted EPS, or adjusted operating cash flow guidance.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.8B | 7.8B | 7.7B | 7.0B | 6.6B | 7.3B |
| Net Income | 415M | 415M | 374M | -265M | 189M | 27M |
| EPS | $3.21 | $3.21 | $2.79 | $-1.96 | $1.26 | $0.19 |
| Free Cash Flow | 515M | 515M | 410M | 269M | 325M | 248M |
| ROIC | 15.7% | 16.0% | 13.4% | 14.7% | 7.2% | 3.5% |
| Gross Margin | 14.8% | 14.8% | 14.3% | 14.0% | 12.6% | 11.0% |
| Debt/Equity | 1.73 | 1.73 | 1.77 | 1.49 | 1.22 | 1.27 |
| Dividends/Share | $0.65 | $0.66 | $0.60 | $0.54 | $0.48 | $0.44 |
| Operating Income | 778M | 778M | 659M | 449M | 343M | 231M |
| Operating Margin | 10.0% | 10.0% | 8.5% | 6.5% | 5.2% | 3.1% |
| ROE | 27.6% | 28.1% | 25.7% | -17.6% | 11.5% | 1.7% |
| Shares Outstanding | 129M | 129M | 134M | 135M | 150M | 142M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.4B | 5.1B | 4.3B | 4.2B | 4.9B | 5.6B | 5.8B | 7.3B | 6.6B | 7.0B | 7.7B | 7.8B | 7.8B |
| Gross Margin | -1.0% | 6.4% | 2.6% | 10.5% | 11.9% | 11.6% | 11.5% | 11.0% | 12.6% | 14.0% | 14.3% | 14.8% | 14.8% |
| 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 | 239M | 155M | 133M | 244M | 294M | 341M | 335M | 393M | 420M | 487M | 543M | 578M | 578M |
| EBIT | -794M | 310M | 28M | 264M | 468M | 362M | 57M | 231M | 343M | 449M | 659M | 778M | 778M |
| Op. Margin | -12.5% | 6.1% | 0.7% | 6.3% | 9.5% | 6.4% | 1.0% | 3.1% | 5.2% | 6.5% | 8.5% | 10.0% | 10.0% |
| Net Income | -1.3B | 203M | -61M | 432M | 281M | 202M | -63M | 27M | 189M | -265M | 374M | 415M | 415M |
| Net Margin | -19.8% | 4.0% | -1.4% | 10.4% | 5.7% | 3.6% | -1.1% | 0.4% | 2.9% | -3.8% | 4.9% | 5.3% | 5.3% |
| Non-Recurring | 496M | 100M | 29M | 11M | -2.0M | 17M | 233M | 4.0M | 24M | -7.0M | 7.0M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -73.4% | 93.5% | 3.0% | 24.8% | 21.1% | 11.8% | 1.6% | 3.5% | 7.2% | 14.7% | 13.4% | 16.0% | 15.7% |
| ROE | -74.1% | 20.2% | -6.7% | 43.5% | 19.2% | 11.4% | -3.7% | 1.7% | 11.5% | -17.6% | 25.7% | 28.1% | 27.6% |
| ROA | -26.5% | 5.4% | -1.6% | 11.1% | 6.4% | 3.9% | -1.1% | 0.5% | 3.2% | -4.8% | 5.6% | 6.3% | 6.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 170M | 47M | 61M | 193M | 165M | 256M | 367M | 278M | 396M | 331M | 462M | 557M | 557M |
| Free Cash Flow | 117M | 37M | 50M | 185M | 148M | 236M | 347M | 248M | 325M | 269M | 410M | 515M | 515M |
| Owner Earnings | 76M | -10.0M | -2.0M | 133M | 92M | 148M | 248M | 128M | 249M | 177M | 292M | 382M | 382M |
| CapEx | 53M | 10M | 11M | 8.0M | 17M | 20M | 20M | 30M | 71M | 62M | 52M | 42M | 42M |
| Maint. CapEx | 72M | 39M | 45M | 48M | 63M | 104M | 115M | 146M | 137M | 141M | 156M | 169M | 169M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 72M | 39M | 45M | 48M | 63M | 104M | 115M | 146M | 137M | 141M | 156M | 169M | 169M |
| CapEx/OCF | 31.2% | 21.3% | 18.0% | 4.1% | 10.3% | 7.8% | 5.4% | 10.8% | 17.9% | 24.2% | 11.6% | 7.5% | 7.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 47M | 47M | 46M | 45M | 44M | 46M | 54M | 61M | 66M | 72M | 79M | 84M | 84M |
| Dividend Yield | 1.2% | 1.7% | 2.2% | 2.4% | 2.1% | 1.9% | 1.7% | 1.9% | 1.2% | 1.1% | 1.0% | 1.4% | 1.8% |
| Share Buybacks | 106M | 62M | 4.0M | 53M | 3.0M | 4.0M | 51M | 82M | 203M | 138M | 218M | 329M | 329M |
| Buyback Yield | 2.7% | 3.1% | 0.2% | 2.4% | 0.1% | 0.2% | 1.4% | 2.1% | 3.3% | 2.1% | 3.0% | 5.9% | 6.9% |
| Stock-Based Comp | 22M | 18M | 18M | 12M | 10M | 4.0M | 4.0M | 4.0M | 10M | 13M | 14M | 6.0M | 6.0M |
| Debt Repayment | 11M | 11M | 9.0M | 9.0M | 100M | 70M | 270M | 15M | 16M | 843M | 18M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -907M | -832M | 114M | 31M | 509M | 729M | 3.2B | 1.8B | 1.6B | 1.8B | 2.2B | 2.1B | 2.1B |
| Cash & Equiv. | 970M | 883M | 536M | 439M | 739M | 712M | 436M | 370M | 389M | 304M | 342M | 500M | 500M |
| Long-Term Debt | 18M | 0 | 650M | 470M | 1.2B | 1.2B | 1.6B | 1.9B | 1.4B | 1.8B | 2.5B | 2.5B | 2.5B |
| Debt/Equity | 0.07 | 0.05 | 0.86 | 0.38 | 0.73 | 0.78 | 2.29 | 1.27 | 1.22 | 1.49 | 1.77 | 1.73 | 1.73 |
| Interest Coverage | -794.0 | 28.2 | 2.2 | 12.6 | 7.1 | 3.7 | 0.8 | 2.9 | 3.9 | 3.9 | 4.6 | 4.9 | 4.9 |
| Equity | 942M | 1.1B | 757M | 1.2B | 1.7B | 1.8B | 1.6B | 1.7B | 1.6B | 1.4B | 1.5B | 1.5B | 1.5B |
| Total Assets | 4.1B | 3.4B | 4.1B | 3.7B | 5.1B | 5.4B | 5.7B | 6.2B | 5.6B | 5.6B | 6.7B | 6.6B | 6.6B |
| Total Liabilities | 3.1B | 2.4B | 3.4B | 2.5B | 3.3B | 3.5B | 4.1B | 4.5B | 3.9B | 4.2B | 5.2B | 5.1B | 5.1B |
| Intangibles | 41M | 35M | 248M | 239M | 516M | 495M | 683M | 708M | 645M | 618M | 763M | 727M | 727M |
| Retained Earnings | 439M | 595M | 488M | 877M | 1.2B | 1.4B | 1.3B | 1.3B | 1.4B | 1.1B | 1.4B | 1.7B | 1.7B |
| Working Capital | 476M | 451M | 488M | 354M | 540M | 510M | 179M | 277M | -74M | 79M | 91M | 363M | 363M |
| Current Assets | 2.5B | 1.8B | 2.0B | 1.4B | 2.0B | 2.0B | 1.6B | 2.2B | 1.7B | 1.7B | 1.9B | 2.1B | 2.1B |
| Current Liabilities | 2.0B | 1.4B | 1.6B | 1.1B | 1.4B | 1.5B | 1.5B | 1.9B | 1.8B | 1.6B | 1.8B | 1.7B | 1.7B |
| Per Share Data | |||||||||||||
| EPS | -8.66 | 1.40 | -0.43 | 3.05 | 1.99 | 1.41 | -0.44 | 0.19 | 1.26 | -1.96 | 2.79 | 3.21 | 3.21 |
| Owner EPS | 0.52 | -0.07 | -0.01 | 0.94 | 0.65 | 1.03 | 1.73 | 0.90 | 1.66 | 1.31 | 2.18 | 2.95 | 2.95 |
| Book Value | 6.46 | 7.34 | 5.34 | 8.68 | 12.02 | 12.84 | 11.03 | 11.74 | 10.80 | 10.23 | 10.84 | 11.63 | 11.63 |
| Cash Flow/Share | 1.17 | 0.32 | 0.43 | 1.36 | 1.17 | 1.79 | 2.56 | 1.96 | 2.64 | 2.45 | 3.45 | 4.31 | 4.52 |
| Dividends/Share | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.40 | 0.44 | 0.48 | 0.54 | 0.60 | 0.66 | 0.65 |
| Shares Out. | 145.7M | 145.0M | 141.9M | 141.6M | 141.2M | 143.3M | 143.2M | 142.1M | 150.0M | 135.2M | 134.1M | 129.3M | 129.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 9.8 | N/A | 5.0 | 9.6 | 11.0 | N/A | 146.4 | 32.8 | N/A | 19.3 | 13.4 | 11.5 |
| P/FCF | 33.1 | 54.0 | 33.7 | 11.8 | 18.2 | 9.4 | 10.8 | 15.9 | 19.1 | 24.3 | 17.6 | 10.8 | 9.3 |
| EV/EBIT | N/A | 0.9 | 45.2 | 5.0 | 2.7 | 2.3 | 49.7 | 22.2 | 22.0 | 17.4 | 13.9 | 9.3 | 8.8 |
| Price/Book | 4.1 | 1.9 | 2.2 | 1.8 | 1.6 | 1.2 | 2.3 | 2.4 | 3.8 | 4.7 | 5.0 | 3.7 | 3.2 |
| Price/Sales | 0.6 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.6 | 0.4 | 0.9 | 0.9 | 1.1 | 0.8 | 0.6 |
| FCF Yield | 3.0% | 1.9% | 3.0% | 8.4% | 5.5% | 10.6% | 9.4% | 6.3% | 5.2% | 4.1% | 5.7% | 9.2% | 10.8% |
| Market Cap | 3.9B | 2.0B | 1.7B | 2.2B | 2.7B | 2.2B | 3.7B | 4.0B | 6.2B | 6.5B | 7.2B | 5.6B | 4.8B |
| Avg. Price | 26.76 | 19.02 | 14.98 | 13.12 | 14.96 | 16.65 | 22.64 | 22.93 | 37.96 | 47.69 | 61.83 | 47.73 | 36.93 |
| Year-End Price | 26.58 | 13.79 | 11.90 | 15.44 | 19.08 | 15.53 | 26.11 | 27.82 | 41.35 | 48.37 | 53.88 | 43.16 | 36.93 |
KBR, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
KBR, INC. trades at 11.5x trailing earnings, compared to its 15-year median P/E of 12.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.1x vs a median of 16.8x. The company's 5-year average ROIC is 11.0% with a gross margin of 13.3%. Total shareholder yield (dividends + buybacks) is 8.7%. At current prices, the estimated annualized return to fair value is +7.0%.
KBR, INC. (KBR) has a net profit margin of 5.3%. This is a modest margin.
KBR, INC. (KBR) generated $515 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KBR, INC. (KBR) has a debt-to-equity ratio of 1.73. This indicates higher leverage, which may increase financial risk.
KBR, INC. (KBR) reported earnings per share (EPS) of $3.21 in its most recent fiscal year.
KBR, INC. (KBR) has a return on equity (ROE) of 28.1%. This indicates the company generates strong returns for shareholders.
KBR, INC. (KBR) has a 5-year average gross margin of 13.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for KBR, INC. (KBR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KBR, INC. (KBR) has a book value per share of $11.63, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is advancing a planned separation of MTS and STS into two independent publicly traded companies, with an effective spin date targeted for January 4, 2027, to enhance strategic focus, organizational agility, and capital allocation flexibility for each business. The company is reaffirming full-year 2026 guidance across all metrics despite a wider range of potential outcomes in the government services portfolio, with Mission Tech expected to be flat to modestly down year-over-year due to timing-driven protest delays, while Sustainable Tech is expected to deliver mid-teens revenue growth driven by award momentum and elevated service demand. Management expects continued margin discipline and strong cash generation to support both the spin transaction execution and ongoing capital deployment priorities, with work under contract covering approximately 67 percent of 2026 STS revenue guidance and 91 percent of MTS revenue guidance, providing good visibility into near-term execution.
Based on recent SEC filings and earnings calls, KBR, INC. (KBR) has provided the following forward guidance: Revenue: $7.9 billion–$8.36 billion (FY2026); Adjusted EBITDA: $980 million–$1.04 billion (FY2026); Adjusted EPS: <UNKNOWN> (FY2026); Adjusted Operating Cash Flow: <UNKNOWN> (FY2026); CapEx: $40 million–$50 million (FY2026), plus 3 additional metrics.
CapEx (FY2026): “CapEx are expected to be in the range of $40 million-$50 million for the year”
Effective Tax Rate (FY2026): “Our projected effective tax rate is 26%-28%”
STS Backlog (Q1 FY2026): “Backlog ended the quarter at approximately $4.7 billion, that is up 9% year-over-year”
MTS Backlog and Options (Q1 FY2026): “Backlog and options ended the quarter at $18.5 billion, with 39% of that funded, excluding the PFIs”