Fluor Corporation (FLR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.87	$0.89	+2.3%	—	$4.3B	—
Q1 26	$0.62	$0.14	-77.4%	—	$3.7B	—
Q4 25	$0.34	$0.33	-2.9%	—	$4.2B	—
Q3 25	$0.45	$0.68	+51.1%	—	$3.4B	—
Q2 25	$0.56	$0.43	-23.2%	—	$4B	—
Q1 25	$0.5	$0.73	+46.0%	—	$4B	—
Q4 24	$0.77	$0.48	-37.7%	—	$4.3B	—
Q3 24	$0.76	$0.51	-32.9%	—	$4.1B	—
Q2 24	$0.67	$0.85	+26.9%	—	$4.2B	—
Q1 24	$0.53	$0.47	-11.3%	—	$3.7B	—
Q4 23	$0.57	$0.68	+19.3%	—	$3.8B	—
Q3 23	$0.57	$1.02	+78.9%	—	$4B	—
Q2 23	$0.43	$0.76	+76.7%	—	$3.9B	—
Q1 23	$0.37	$0.28	-24.3%	—	$3.8B	—
Q4 22	$0.51	$0.43	-15.7%	—	$3.7B	—
Q3 22	$0.42	$0.07	-83.3%	—	$3.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.31	—	—	$15.5B	—
FY24	—	$12.5	—	—	$16.3B	—
FY23	—	$0.55	—	—	$15.5B	—
FY22	—	$0.75	—	—	$13.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$19B	$14.8B	$18.9B	$15.5B	$14.2B	$14.2B	$13.7B	$15.5B	$16.3B	$15.5B
YoY change	+5.09%	-22.2%	+27.3%	-18%	-8.39%	-0.01%	-2.91%	+12.6%	+5.43%	-4.98%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	19B	14.8B	18.9B	15.5B	14.2B	14.2B	13.7B	15.5B	16.3B	15.5B
Cost of revenue	18.2B	14.5B	18.3B	15.7B	13.8B	13.7B	13.4B	15B	15.7B	15.6B
Gross profit	790.3M	277.7M	569.4M	-206.1M	399.5M	454M	355M	477M	574M	-120M
Gross margin	4.15%	1.88%	3.02%	-1.33%	2.82%	3.21%	2.58%	3.08%	3.52%	-0.77%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	191.1M	183.9M	143.1M	277.7M	201.1M	429M	200M	224M	203M	149M
Operating expenses	191.1M	183.9M	143.1M	277.7M	201.1M	429M	200M	224M	203M	149M
Operating income	599.2M	93.8M	426.3M	-483.8M	198.4M	25M	155M	253M	371M	-269M
Operating margin	3.15%	0.63%	2.26%	-3.13%	1.4%	0.18%	1.13%	1.64%	2.27%	-1.74%
Non-operating income, net	0	-184K	-21.9M	-344.6M	-153.1M	-298M	53M	-106M	92M	-109M
Pretax income	546.6M	53.8M	385.7M	-839.5M	3.5M	-346M	244M	315M	613M	-311M
Income tax	219.2M	16.4M	173.3M	482M	15.9M	20M	171M	236M	634M	-39M
Net income	327.4M	218.2M	232.9M	-1.6B	-368.3M	-401M	73M	79M	2.1B	-62M
Net margin	1.72%	1.47%	1.24%	-10.1%	-2.6%	-2.83%	0.53%	0.51%	12.8%	-0.4%
EBITDA	842.2M	346.5M	679.5M	-259.5M	327.6M	116M	323M	555M	640M	-92M
EPS	2.02	1.36	1.6	-10.9	-3.09	-3.29	0.75	0.55	12.5	-0.31
Diluted EPS	2	1.36	1.59	-10.9	-3.09	-3.29	0.73	0.54	12.3	-0.31

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4B	3.8B	3.7B	4.2B	4.1B	4.3B	4B	4B	3.4B	4.2B	3.7B	4.3B
Cost of revenue	3.7B	3.8B	3.6B	4B	4B	4.1B	3.8B	3.9B	3.8B	4B	3.6B	4.2B
Gross profit	251M	66M	99M	178M	88M	208M	140M	56M	-449M	133M	13M	179M
Gross margin	6.33%	1.73%	2.65%	4.21%	2.15%	4.88%	3.52%	1.41%	-13.3%	3.18%	0.35%	4.13%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	56M	50M	59M	50M	37M	56M	36M	48M	29M	49M	57M	38M
Operating expenses	56M	50M	59M	50M	37M	56M	36M	48M	29M	49M	57M	38M
Operating income	195M	16M	40M	128M	51M	152M	104M	8M	-478M	84M	-44M	141M
Operating margin	4.92%	0.42%	1.07%	3.03%	1.25%	3.57%	2.61%	0.2%	-14.2%	2.01%	-1.2%	3.26%
Non-operating income, net	23M	-41M	12M	48M	-2M	34M	-13M	-34M	-18M	-31M	136M	-6M
Pretax income	260M	24M	91M	214M	86M	222M	108M	-9M	-483M	72M	107M	156M
Income tax	79M	64M	51M	61M	61M	462M	-53M	765M	-177M	-575M	-7M	25M
Net income	181M	-40M	40M	153M	25M	1.9B	-232M	2.4B	-707M	-1.6B	165M	123M
Net margin	4.57%	-1.05%	1.07%	3.62%	0.61%	43.8%	-5.83%	61.3%	-21%	-37.4%	4.5%	2.84%
EBITDA	271M	95M	110M	193M	118M	219M	151M	51M	-437M	130M	-3M	189M
EPS	1.18	—	0.35	0.99	0.32	—	-1.42	14.9	-4.3	—	1.1	0.82
Diluted EPS	1.15	—	0.34	0.97	0.31	—	-1.42	14.8	-4.3	—	1.08	0.81

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.3B	7.2B	4.5B	2.6B	2.2B	3.5B	4.9B	5.9B	—	6.5B	6.6B
Enterprise value	6.9B	6.9B	4.2B	2.3B	1.7B	2.3B	3.4B	4.4B	—	3.8B	4.9B
Shares outstanding	139.2M	139.8M	140.4M	140.1M	140.5M	141M	142M	150M	172M	164M	164M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.3	33.1	19.4	—	—	—	67.4	74.4	—	—	23.6
P/S	0.38	0.49	0.24	0.17	0.16	0.25	0.36	0.38	—	0.42	0.43
P/B	2.25	2.07	1.52	1.67	1.78	2.23	2.47	2.86	—	1.98	2.51
EV/EBITDA	8.25	19.8	6.22	-8.98	5.27	20.2	10.6	8.01	—	-41.3	-20.9
EV/Sales	0.37	0.46	0.22	0.15	0.12	0.17	0.25	0.29	—	0.24	0.31
Earnings yield	4.48%	3.02%	5.15%	—	—	—	1.48%	1.34%	—	—	4.24%
FCF yield	6.43%	4.42%	-1.08%	1.44%	3.23%	-1.43%	-0.89%	1.8%	—	-6.72%	0.33%
PEG	—	—	—	—	—	—	—	—	—	—	-0.25

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	4.15%	1.88%	3.02%	-1.33%	2.82%	3.21%	2.58%	3.08%	3.52%	-0.77%	4.13%
Operating margin	3.15%	0.63%	2.26%	-3.13%	1.4%	0.18%	1.13%	1.64%	2.27%	-1.74%	3.26%
Net margin	1.72%	1.47%	1.24%	-10.1%	-2.6%	-2.83%	0.53%	0.51%	12.8%	-0.4%	-12.8%
ROE	10.1%	6.25%	7.81%	-98.5%	-29.2%	-25.6%	3.66%	3.85%	52.2%	-1.89%	-45.2%
ROA	3.55%	2.34%	2.62%	-19.6%	-5.04%	-5.66%	1.07%	1.13%	22.8%	-0.75%	-1.93%
ROIC	12.5%	2.08%	8.73%	-38.1%	0%	5.91%	9.24%	10.2%	0%	-46.9%	-36.5%
Return on tangible assets	4.11%	2.72%	2.93%	-22.5%	-5.34%	-6.08%	1.14%	1.2%	23.8%	-0.75%	-26.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.47	1.57	1.47	1.37	1.41	1.43	1.57	1.6	1.69	1.91	1.8
Quick ratio	1.07	1.16	1.47	1.37	1.41	1.43	1.57	1.6	1.69	1.91	1.8
Debt / equity	0.49	0.46	0.57	1.07	1.35	0.76	0.57	0.56	0.28	0.33	0.38
Debt / assets	0.17	0.17	0.19	0.21	0.23	0.17	0.17	0.17	0.12	0.13	0.14
Net debt / EBITDA	-0.43	-1	-0.43	1.21	-1.58	-9.86	-4.63	-2.58	-2.9	29.4	16.3
Interest coverage	8.84	1.8	6	-11.9	1.05	-2.84	5.14	6.25	14.3	-6.4	-2.44
Effective tax rate	40.1%	30.4%	44.9%	0%	100%	0%	70.1%	74.9%	100%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	136.8	105.9	134.3	110.3	100.8	100.4	96.8	103.2	94.9	94.5	102.5
EPS (basic)	2.02	1.36	1.6	-10.9	-3.09	-3.29	0.75	0.55	12.5	-0.31	-0.31
EPS (diluted)	2	1.36	1.59	-10.9	-3.09	-3.29	0.73	0.54	12.3	-0.31	-11.7
Book value per share	23.3	25	21.2	11.3	8.99	11.1	14.1	13.7	23.2	20	19.8
FCF per share	3.38	2.28	-0.35	0.27	0.52	-0.35	-0.31	0.71	3.86	-2.66	-2.34
Cash per share	14.1	14.1	14.1	14.3	15.8	16.6	18.5	17.3	17.2	23	22.8
Capex per share	0.58	0.69	0.58	0.47	0.79	1.03	—	—	—	0.3	0.3

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.43%	0.65%	0.43%	0.43%	0.79%	1.03%	—	—	—	0.32%	0.28%
Capex / operating cash flow	13.5%	11.6%	22.4%	-15.3%	-46.3%	-25.9%	—	—	—	-12.9%	-15%
Payout ratio	36%	54.1%	51%	-7.56%	-7.8%	-4.74%	53.4%	36.7%	0%	0%	0%
Dividend yield	1.61%	1.63%	2.63%	4.47%	1.28%	0.54%	0.79%	0.49%	—	0%	0.81%

Yield

0.81%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.10

ex-dividend Feb 28, 2020

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Feb 28, 2020	$0.10
Dec 3, 2019	$0.10
Sep 3, 2019	$0.21

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4B	$3.8B	$3.7B	$4.2B	$4.1B	$4.3B	$4B	$4B	$3.4B	$4.2B	$3.7B	$4.3B
YoY change	+9.72%	+2.96%	-0.48%	+7.31%	+3.31%	+11.5%	+6.64%	-5.89%	-17.7%	-1.97%	-8.01%	+8.82%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2B	2B	2B	2B	2.2B	2.3B	2.6B	2.6B	3B	3.8B
Receivables	1.7B	1.6B	1.2B	1.2B	935.7M	1.2B	1.1B	1.1B	921M	1.1B
Inventory	1.5B	1.5B	—	—	—	—	—	—	—	—
Total current assets	5.6B	5.6B	5.4B	5.4B	5B	5.2B	5B	5.1B	5.2B	6.4B
Property, plant & equipment	527.2M	600M	255.5M	159M	47.8M	36M	50M	55M	—	—
Goodwill & intangibles	1.3B	1.3B	932.9M	1B	414.7M	498M	412M	412M	398M	—
Total assets	9.2B	9.3B	8.9B	8B	7.3B	7.1B	6.8B	7B	9.1B	8.2B
Accounts payable	1.6B	1.5B	1.4B	1.5B	1.1B	1.2B	1B	1.2B	1.2B	1.5B
Short-term debt	82.2M	27.4M	26.9M	38.7M	4.9M	18M	152M	—	—	—
Total current liabilities	3.8B	3.6B	3.7B	3.9B	3.6B	3.6B	3.2B	3.2B	3.1B	3.4B
Long-term debt	1.5B	1.6B	1.7B	1.7B	1.7B	1.2B	978M	1.2B	1.1B	1.1B
Total liabilities	6B	5.8B	5.9B	6.4B	6B	5.5B	4.8B	4.9B	5.2B	5B
Shareholders' equity	3.2B	3.5B	3B	1.6B	1.3B	1.6B	2B	2.1B	4B	3.3B
Total debt	1.6B	1.6B	1.7B	1.7B	1.7B	1.2B	1.1B	1.2B	1.1B	1.1B
Net debt	-250.2M	-185.1M	-76.3M	-306.7M	-492.8M	-1B	-1.3B	-1.4B	-1.7B	-1.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.5B	2.6B	2.4B	2.7B	3B	3B	2.5B	2.3B	2.8B	3.8B	3.7B	3B
Receivables	1.2B	1.1B	1.1B	1B	1B	921M	918M	1.1B	1.1B	1.1B	951M	1B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	5.1B	5.1B	4.9B	5B	5.3B	5.2B	4.9B	5B	5.5B	6.4B	6.1B	5.7B
Property, plant & equipment	—	55M	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	412M	412M	412M	412M	412M	398M	—	—	—	—	—	—
Total assets	7.2B	7B	6.7B	6.8B	7.1B	9.1B	8.4B	11.8B	11.5B	8.2B	7.9B	7.5B
Accounts payable	1.2B	1.2B	1.2B	1.1B	1.2B	1.2B	1.3B	1.4B	1.5B	1.5B	1.6B	1.8B
Short-term debt	18M	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	3.1B	3.2B	2.9B	2.8B	3B	3.1B	2.8B	3.1B	3.8B	3.4B	3.4B	3.2B
Long-term debt	1.4B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Total liabilities	5.1B	4.9B	4.7B	4.6B	4.8B	5.2B	4.8B	5.8B	6.2B	5B	5B	4.8B
Shareholders' equity	2B	2.1B	2B	2.2B	2.3B	4B	3.6B	6B	5.2B	3.3B	3B	2.8B
Total debt	1.4B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Net debt	-978M	-1.4B	-1.2B	-1.5B	-1.8B	-1.7B	-1.3B	-1.1B	-1.7B	-1.1B	-2.1B	-1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	327.4M	226.8M	232.9M	-1.6B	-366.8M	-401M	73M	79M	2.1B	-62M
Depreciation & amortization	225.9M	225.3M	216.7M	170.5M	105.6M	74M	73M	74M	73M	68M
Stock-based compensation	47.1M	43.7M	38.8M	36.1M	21.9M	32M	19M	48M	31M	30M
Change in working capital	22.9M	229.8M	-151.9M	601.8M	42.9M	-306M	109M	-193M	316M	54M
Operating cash flow	602.8M	825.5M	362.2M	-432.1M	-240.8M	-562M	302M	-8M	2.9B	-387M
Capital expenditure	81.2M	96.1M	81M	66M	111.6M	145.7M	—	—	—	-50M
Investing cash flow	-505.4M	-201.2M	212.4M	261.3M	71.9M	98.7M	-3M	-171M	-169M	437M
Dividends paid	-118M	-118M	-118.7M	-118.1M	-28.7M	-19M	-39M	-29M	0	0
Share repurchases	-9.7M	0	-50M	0	—	—	—	—	-125M	-754M
Financing cash flow	-931M	-278.3M	-147.7M	-77.3M	48.4M	122M	315M	154M	-116M	-797M
Net change in cash	-833.6M	346M	426.9M	-248.1M	-120.5M	-341.3M	614M	-25M	2.6B	-747M
Free cash flow	470M	318.9M	-48.8M	38.2M	72.4M	-50M	-44M	106M	664M	-437M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	-707M	-1.6B	165M	124M
Depreciation & amortization	20M	17M	18M	16M	19M	20M	18M	17M	17M	16M	16M	16M
Stock-based compensation	—	—	—	—	—	—	—	—	7M	6M	12M	10M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	20M	17M	18M	16M	19M	20M	18M	17M	286M	-366M	110M	-317M
Capital expenditure	—	—	—	—	—	—	—	—	-13M	-12M	-11M	-7M
Investing cash flow	—	—	—	—	—	—	—	—	377M	121M	1.4B	349M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	-70M	-389M	-516M	-300M
Financing cash flow	—	—	—	—	—	—	—	—	-47M	-409M	-478M	-288M
Net change in cash	20M	17M	18M	16M	19M	20M	18M	17M	616M	-654M	1.1B	-256M
Free cash flow	—	—	—	—	—	—	—	—	273M	-378M	99M	-324M

Fluor Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history