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CIK 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 8, 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
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
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
ACM versus the scaled public Environmental Engineering & Consulting comparables.
EV / EBITDA distribution · peer set
ACM 10.3x
Indexed share-price performance
ACM versus available Environmental Engineering & Consulting peers and SPY.
+12%
ACM
+16%
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| 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 | $8,026 | 1.4x | 14.1x | 1.7x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
ACM's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
40
Active years
14
Named deals
5
Avg / active year
2.9
Acq. cash outflow ($MM)
N/A
Banker read
Annual acquisitions + disclosed spend
ACM count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
1 / 1
Last three years is broadly steady vs prior three.
Peak count year
FY10
6 disclosed acquisitions in the peak visible year.
Recent spend
$334MM
is down 90% vs prior three; peak FY15 at $3.3B.
Named evidence
5 rows
13% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($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.
Evidence
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
18
Named deal filings
4
Recent SEC filings
10
Evidence clips
5
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Nov 19, 2025 | Annual M&A 10-K | warning (1 warn) | N/A | $213MM | N/A | SEC filing |
| FY2024 | Nov 19, 2024 | Annual M&A 10-K | warning (1 warn) | N/A | $18.7MM | N/A | SEC filing |
| FY2023 | Nov 15, 2023 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2022 | Nov 17, 2022 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2021 | Nov 17, 2021 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2020 | Nov 19, 2020 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2019 | Nov 13, 2019 | Annual M&A 10-K | quarantined (1 issue) | 0 | N/A | N/A | SEC filing |
| FY2017 | Nov 14, 2017 | Annual M&A 10-K | warning (1 warn) | 1 | $103MM | N/A | SEC filing |
| FY2016 | Nov 16, 2016 | Annual M&A 10-K | warning (1 warn) | N/A | $5.5B | N/A | SEC filing |
| FY2015 | Nov 25, 2015 | Annual M&A 10-K | warning (1 warn) | 1 | $3.3B | $4.9B | SEC filing |
| FY2014 | Nov 17, 2014 | Annual M&A 10-K | quarantined (1 warn, 1 issue) | 2 | $53.1MM | N/A | SEC filing |
| FY2013 | Nov 13, 2013 | Annual M&A 10-K | quarantined (2 issue) | 3 | $42.0MM | $82.0MM | SEC filing |
| FY2012 | Nov 19, 2012 | Annual M&A 10-K | quarantined (2 issue) | 1 | $12.6MM | $15.4MM | SEC filing |
| FY2011 | Nov 21, 2011 | Annual M&A 10-K | quarantined (1 issue) | 6 | N/A | $453MM | SEC filing |
| FY2010 | Nov 22, 2010 | Annual M&A 10-K | quarantined (2 issue) | 6 | $559MM | $768MM | SEC filing |
| FY2009 | Nov 27, 2009 | Annual M&A 10-K | quarantined (1 issue) | 3 | $35.7MM | $63.0MM | SEC filing |
| FY2008 | Dec 1, 2008 | Annual M&A 10-K | quarantined (2 issue) | 14 | $657MM | $632MM | SEC filing |
| FY2007 | Dec 13, 2007 | Annual M&A 10-K | accepted | 3 | $159MM | $173MM | SEC filing |
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Nov 13, 2019 | 10-K | Acquisition completed during the year ended September 30, 2018 | Annual M&ANamed deals | SEC filing |
| Nov 27, 2009 | 10-K | Earth Tech | Annual M&ANamed deals | SEC filing |
| Dec 13, 2007 | 10-K | EDAW, Inc. | Annual M&ANamed deals | SEC filing |
| Nov 13, 2018 | 10-K | 2017 acquisitions; 2018 acquisition | Named deals | SEC filing |
| Filing date | Form | Items | Description | Support | Source |
|---|---|---|---|---|---|
| Nov 19, 2025 | 10-K | N/A | 10-K | FinancialsAnnual M&ARecent SEC | SEC filing |
| Mar 10, 2026 | 8-K | 1.01,2.03,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Mar 5, 2026 | 8-K | 5.07,8.01,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Feb 10, 2026 | 10-Q | N/A | 10-Q | Recent SEC | SEC filing |
| Feb 9, 2026 | 8-K | 2.02,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Feb 1, 2026 | 10-Q | N/A | Quarterly report from SEC company index | Recent SEC | SEC filing |
| Jan 20, 2026 | DEFA14A | N/A | DEFA14A | Recent SEC | SEC filing |
| Jan 20, 2026 | DEF 14A | N/A | DEF 14A | Recent SEC | SEC filing |
| Nov 18, 2025 | 8-K | 2.02,7.01,8.01,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Nov 1, 2025 | 10-K | N/A | Annual report from SEC company index | Recent SEC | SEC filing |
Earth Tech business unit of Tyco International Ltd.
10-K - Nov 27, 2009
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…
2017 acquisitions
10-K - Nov 13, 2018
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.
EDAW
10-K - Dec 13, 2007
•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…
Acquisition completed during the year ended September 30, 2018
10-K - Nov 13, 2019
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.
2018 acquisition
10-K - Nov 13, 2018
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.
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.