AECOM
ACMActiveCIK 868857 · Environmental Engineering & Consulting
Aecom is a public company in Engineering & Construction, tracked in the environmental engineering, consulting, and infrastructure services sub-sector, with $16B TTM revenue and $1.3B TTM EBITDA.
Market data as of May 10, 2026
Financials: LTM / latest available company filings
Sources: FMP, ACM filings, SEC EDGAR
$10,419
Market cap ($MM)
$13,009
Enterprise value ($MM)
$15,956
Revenue · LTM ($MM)
$1,267
EBITDA · LTM ($MM)
8%
EBITDA margin
0.8x
EV / revenue
10.3x
EV / EBITDA
1.4x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01ACM is a scaled public consolidator in Env Engineering, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is TTEK, PWR, J, KBR, EME, GVA.
Balance sheet & capacity
Indicative capacity read: 1.4x net debt / EBITDA with EBITDA of $1.3B.
$1,034
Cash & equiv. ($MM)
$2,748
Total debt ($MM)
$1,713
Net debt ($MM)
1.4x
Net debt / EBITDA
Valuation
Where it trades against its peer set
ACM versus the scaled public Environmental Engineering & Consulting comparables.
EV / EBITDA distribution · peer set
ACM 10.3x
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Aecom | ACM | $15,956 | $1,267 | 8% | $10,419 | $13,009 | 0.8x | 10.3x | 1.4x |
| Tetra Tech, Inc. | TTEK | $4,914 | $673 | 14% | $7,861 | $8,747 | 1.8x | 13.0x | 1.0x |
| Jacobs Solutions Inc. | J | $13,172 | $894 | 7% | $13,984 | $17,170 | 1.3x | 19.2x | 3.0x |
| KBR, Inc. | KBR | $7,691 | $927 | 12% | $4,126 | $6,557 | 0.9x | 7.1x | 2.4x |
| EMCOR Group, Inc. | EME | $17,751 | $2,033 | 11% | $41,043 | $40,643 | 2.3x | 20.0x | -0.3x |
| Granite Construction Inc. | GVA | $4,637 | $482 | 10% | $6,207 | $7,305 | 1.6x | 15.2x | 2.0x |
| BrightView Holdings, Inc. | BV | $2,729 | $328 | 12% | $1,209 | $2,101 | 0.8x | 6.4x | 2.5x |
| Willdan Group, Inc. | WLDN | $684 | $65 | 9% | $1,308 | $1,349 | 2.0x | 20.8x | 0.3x |
| Environmental Engineering & Consulting median | $6,302 | $784 | 11% | $7,034 | $8,026 | 1.4x | 14.1x | 1.7x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
ACM's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
40
Active years
14
Named deals
5
Avg / active year
2.9
Acq. cash outflow ($MM)
N/A
Annual acquisition count
named acquisitionACM cadence shown by annual acquisition count because verified spend is N/A.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Jul 25, 2008 | Earth Tech | Environmental engineering, consulting, and infrastructure services | $347 | On July 25, 2008, the Company completed the acquisition of the Earth Tech business unit of Tyco International Ltd. (Earth Tech), pursuant to a Purchase Agreement (Purchase Agree... | 10-K† |
| Sep 30, 2017 | 2017 acquisitions | Environmental engineering, consulting, and infrastructure services | $164 | The Company completed one acquisition during the year ended September 30, 2018 and two acquisitions during the year ended September 30, 2017 for a total consideration of $5.6 mi... | 10-K† |
| Dec 1, 2005 | EDAW, Inc. | Environmental engineering, consulting, and infrastructure services | $70 | •EDAW. In December 2005, we acquired 100% of the capital stock of EDAW, Inc., a San Francisco-based professional technical services firm which specializes in global urban develo... | 10-K† |
| Sep 30, 2018 | Acquisition completed during the year ended September 30, 2018 | Environmental engineering, consulting, and infrastructure services | $6 | The Company completed one acquisition during the year ended September 30, 2018 for a total consideration of $5.6 million, which was accounted for under the acquisition method. | 10-K† |
| Sep 30, 2018 | 2018 acquisition | Environmental engineering, consulting, and infrastructure services | $6 | The Company completed one acquisition during the year ended September 30, 2018 and two acquisitions during the year ended September 30, 2017 for a total consideration of $5.6 mi... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 10 SEC-backed facts across 5 cited filings.
Strategy
In management's own words
The acquisition thesis as management frames it in its filings and why each line matters.
| Theme | Excerpt | Why it matters | Source |
|---|---|---|---|
| Management language | N/A | N/A until a source excerpt is available. | N/A |
Excerpts drawn from SEC filings; the right-hand read turns each into a coverage talking point.
Evidence
Source ledger
Every figure above traces to a dated SEC filing.
| Claim | Excerpt | Source type | Filing date | Evidence | Source |
|---|---|---|---|---|---|
| Earth Tech business unit of Tyco International Ltd. | On July 25, 2008, the Company completed the acquisition of the Earth Tech business unit of Tyco International Ltd. (Earth Tech), pursuant to a Purchase Agreement (Purchase Agreement) dated as of February 11, 2008, by an… | 10-K | Nov 27, 2009 | Medium | SEC source |
| 2017 acquisitions | The Company completed one acquisition during the year ended September 30, 2018 and two acquisitions during the year ended September 30, 2017 for a total consideration of $5.6 million and $164.4 million, respectively. | 10-K | Nov 13, 2018 | Medium | SEC source |
| EDAW | •EDAW. In December 2005, we acquired 100% of the capital stock of EDAW, Inc., a San Francisco-based professional technical services firm which specializes in global urban development and planning projects. The considera… | 10-K | Dec 13, 2007 | Medium | SEC source |
| Acquisition completed during the year ended September 30, 2018 | The Company completed one acquisition during the year ended September 30, 2018 for a total consideration of $5.6 million, which was accounted for under the acquisition method. | 10-K | Nov 13, 2019 | Medium | SEC source |
| 2018 acquisition | The Company completed one acquisition during the year ended September 30, 2018 and two acquisitions during the year ended September 30, 2017 for a total consideration of $5.6 million and $164.4 million, respectively. | 10-K | Nov 13, 2018 | Medium | SEC source |