CH2M HILL Companies, Ltd.
10-K - Nov 21, 2018
On December 15, 2017, the Company completed the acquisition of CH2M HILL Companies, Ltd. (CH2M), an international provider of engineering, construction and technical services, by acquiring 100% of ...
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Jacobs Solutions Inc.
JActiveCIK 52988 · Environmental Engineering & Consulting
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, J filings, SEC EDGAR
$13,984
Market cap ($MM)
$17,170
Enterprise value ($MM)
$13,172
Revenue · LTM ($MM)
$894
EBITDA · LTM ($MM)
7%
EBITDA margin
1.3x
EV / revenue
19.2x
EV / EBITDA
3.0x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01J 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, ACM, PWR, KBR, EME, GVA.
Balance sheet & capacity
Indicative capacity read: 3.0x net debt / EBITDA with EBITDA of $894MM.
$1,372
Cash & equiv. ($MM)
$4,084
Total debt ($MM)
$2,712
Net debt ($MM)
3.0x
Net debt / EBITDA
Valuation
Where it trades against its peer set
J versus the scaled public Environmental Engineering & Consulting comparables.
Indexed share-price performance
J versus available Environmental Engineering & Consulting peers and SPY.
-1.4%
J
N/A
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 |
|---|---|---|---|---|---|---|---|---|---|
| Jacobs Solutions Inc. | J | $13,172 | $894 | 7% | $13,984 | $17,170 | 1.3x | 19.2x | 3.0x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
J's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
62
Active years
19
Named deals
10
Avg / active year
3.3
Acq. cash outflow ($MM)
N/A
Banker read
- 01J reads as a programmatic acquirer: 62 disclosed acquisitions across 19 active years, or 3.3 per active year. The chart shows activity in 8 of the last 12 visible years.
- 02In the last three years, the file shows 3 acquisitions versus 2 in the prior three; recent activity is running above the prior three-year period.
- 03Spend changes the read: $7.7B of disclosed spend is concentrated in lumpy years, with FY21 the largest year at $1.7B. Recent spend is below the prior three-year period.
Annual acquisitions + disclosed spend
count spend named deal
J count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
3 / 2
Last three years is up 50% vs prior three.
Peak count year
FY16
2 disclosed acquisitions in the peak visible year.
Recent spend
$469MM
is down 82% vs prior three; peak FY21 at $1.7B.
Named evidence
10 rows
16% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Dec 15, 2017 | CH2M HILL Companies, Ltd. | Environmental engineering, consulting, and infrastructure services | $3,200 | On December 15, 2017, the Company completed the acquisition of CH2M HILL Companies, Ltd. (CH2M), an international provider of engineering, construction and technical services, b... | 10-K† |
| Dec 15, 2017 | CH2M | Environmental engineering, consulting, and infrastructure services | $3,200 | On December 15, 2017, the Company completed the acquisition of CH2M, an international provider of engineering, construction and technical services, by acquiring 100% of the outs... | 10-K† |
| Jun 12, 2019 | The KeyW Holding Corporation | Environmental engineering, consulting, and infrastructure services | $903 | On June 12, 2019, Jacobs completed the acquisition of The KeyW Holding Corporation (“KeyW”), a U.S. based national security solutions provider to the intelligence, cyber, and co... | 10-K† |
| Dec 1, 2004 | Babtie Group Limited | Environmental engineering, consulting, and infrastructure services | $169 | In August 2004, we acquired the Babtie Group Limited (the “Babtie Group”). The Babtie Group is a leading provider of technical and professional services to clients in the infras... | 10-K† |
| Sep 30, 2014 | SKM | Environmental engineering, consulting, and infrastructure services | $1,200 | The acquisition activity in fiscal 2014 was primarily related to the Company's acquisition of SKM for $1.2 billion ($1.1 billion net of cash acquired). | 10-K† |
| Dec 13, 2013 | Sinclair Knight Merz Management Pty Limited and Sinclair Knight Merz Holdings Limited | Environmental engineering, consulting, and infrastructure services | $1,200 | On December 13, 2013, the Company acquired all of the outstanding equity interests in Sinclair Knight Merz Management Pty Limited and Sinclair Knight Merz Holdings Limited (coll... | 10-K† |
| Dec 1, 2013 | SKM | Environmental engineering, consulting, and infrastructure services | $1,200 | In December 2013, the Company acquired all of the outstanding equity interests in SKM. The acquisition of SKM is described in more detail under Notes to Consolidated Financial S... | 10-K† |
| Sep 8, 2013 | Sinclair Knight Merz | Environmental engineering, consulting, and infrastructure services | $1,200 | On September 8, 2013, the Company, entered into a Merger Implementation Deed with Sinclair Knight Merz (“SKM”), a 6,500-person professional services firm headquartered in Austra... | 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 16 SEC-backed facts across 9 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
22
Named deal filings
9
Recent SEC filings
0
Evidence clips
6
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.22 rows+-
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Nov 20, 2025 | Annual M&A 10-K | warning (1 warn) | 0 | N/A | N/A | SEC filing |
| FY2024 | Nov 25, 2024 | Annual M&A 10-K | warning (1 warn) | N/A | $14.0MM | N/A | SEC filing |
| FY2023 | Nov 21, 2023 | Annual M&A 10-K | warning (1 warn) | 1 | $17.7MM | N/A | SEC filing |
| FY2022 | Nov 21, 2022 | Annual M&A 10-K | warning (1 warn) | 2 | $437MM | N/A | SEC filing |
| FY2021 | Nov 23, 2021 | Annual M&A 10-K | warning (1 warn) | 1 | $1.7B | N/A | SEC filing |
| FY2020 | Nov 24, 2020 | Annual M&A 10-K | accepted | 1 | $294MM | $318MM | SEC filing |
| FY2019 | Nov 25, 2019 | Annual M&A 10-K | accepted | 1 | $575MM | $903MM | SEC filing |
| FY2018 | Nov 21, 2018 | Annual M&A 10-K | accepted | 1 | $1.5B | $3.8B | SEC filing |
| FY2017 | Nov 21, 2017 | Annual M&A 10-K | warning (1 warn) | 2 | $150MM | N/A | SEC filing |
| FY2016 | Nov 22, 2016 | Annual M&A 10-K | warning (1 warn) | 2 | $49.9MM | N/A | SEC filing |
| FY2015 | Nov 24, 2015 | Annual M&A 10-K | warning (1 warn) | N/A | $8.1MM | N/A | SEC filing |
| FY2014 | Nov 24, 2014 | Annual M&A 10-K | warning (1 warn) | 1 | $1.4B | N/A | SEC filing |
| FY2013 | Nov 22, 2013 | Annual M&A 10-K | warning (1 warn) | N/A | $39.4MM | N/A | SEC filing |
| FY2012 | Nov 20, 2012 | Annual M&A 10-K | accepted | 3 | $91.6MM | $910MM | SEC filing |
| FY2011 | Nov 21, 2011 | Annual M&A 10-K | accepted | 7 | $711MM | $910MM | SEC filing |
| FY2010 | Nov 23, 2010 | Annual M&A 10-K | warning (1 warn) | 3 | $259MM | N/A | SEC filing |
| FY2009 | Nov 20, 2009 | Annual M&A 10-K | warning (1 warn) | 1 | $22.3MM | N/A | SEC filing |
| FY2008 | Nov 26, 2008 | Annual M&A 10-K | warning (1 warn) | 3 | $264MM | N/A | SEC filing |
| FY2007 | Nov 29, 2007 | Annual M&A 10-K | quarantined (1 warn, 1 issue) | 3 | $88.7MM | N/A | SEC filing |
| FY2006 | Dec 8, 2006 | Annual M&A 10-K | warning (1 warn) | N/A | $11.0MM | N/A | SEC filing |
| FY2005 | Dec 13, 2005 | Annual M&A 10-K | warning (1 warn) | 0 | N/A | N/A | SEC filing |
| FY2004 | Dec 13, 2004 | Annual M&A 10-K | accepted | 1 | $164MM | $169MM | SEC filing |
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.9 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Nov 25, 2019 | 10-K | The KeyW Holding Corporation | Annual M&ANamed deals | SEC filing |
| Nov 21, 2018 | 10-K | CH2M HILL Companies, Ltd.; CH2M | Annual M&ANamed deals | SEC filing |
| Nov 22, 2016 | 10-K | SKM | Annual M&ANamed deals | SEC filing |
| Nov 24, 2015 | 10-K | SKM | Annual M&ANamed deals | SEC filing |
| Nov 24, 2014 | 10-K | Sinclair Knight Merz Management Pty Limited and Sinclair Knight Merz Holdings Limited | Annual M&ANamed deals | SEC filing |
| Nov 22, 2013 | 10-K | Sinclair Knight Merz | Annual M&ANamed deals | SEC filing |
| Nov 20, 2012 | 10-K | Aker Entities acquisition | Annual M&ANamed deals | SEC filing |
| Nov 21, 2011 | 10-K | Aker Solutions ASA Transactions | Annual M&ANamed deals | SEC filing |
| Dec 13, 2004 | 10-K | Babtie Group Limited | Annual M&ANamed deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.6 rows+-
Medium
CH2M acquisition
10-K - Nov 21, 2018
On December 15, 2017, the Company completed the acquisition of CH2M, an international provider of engineering, construction and technical services, by acquiring 100% of the outstanding shares of CH...
KeyW Holding Corporation
10-K - Nov 25, 2019
On June 12, 2019, Jacobs completed the acquisition of The KeyW Holding Corporation (“KeyW”), a U.S. based national security solutions provider to the intelligence, cyber, and counterterrorism commu...
Babtie Group Limited
10-K - Dec 13, 2004
In August 2004, we acquired the Babtie Group Limited (the “Babtie Group”). The Babtie Group is a leading provider of technical and professional services to clients in the infrastructure, facilities...
SKM acquisition
10-K - Nov 22, 2016
The acquisition activity in fiscal 2014 was primarily related to the Company's acquisition of SKM for $1.2 billion ($1.1 billion net of cash acquired).
Sinclair Knight Merz Management Pty Limited and Sinclair Knight Merz Holdings Limited
10-K - Nov 24, 2014
On December 13, 2013, the Company acquired all of the outstanding equity interests in Sinclair Knight Merz Management Pty Limited and Sinclair Knight Merz Holdings Limited (collectively, "SKM"), a ...
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.