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UK infrastructure construction and support-services group building roads, rail, power and buildings, mainly for UK/US public-sector clients.
UK infrastructure construction and support-services group building roads, rail, power and buildings, mainly for UK/US public-sector clients.
Wins construction contracts by competitive tender, mostly from public bodies, and earns thin margins as work progresses, so cost control and project selection matter. Support services such as highways maintenance and utility work give steadier income, while its investment arm holds stakes in public-private projects and periodically sells them for gains.
In one line: A UK infrastructure contractor, comparable to a smaller AECOM or Fluor.
Moat: narrow (scale, regulatory licence, installed base). Track record and bonding capacity for large public contracts limit new entrants, but margins stay thin and competitive.
Headquarters: London, UK · Founded: 1909 · Employees: 26,000
Size Balfour Beatty (BBY.L) is a United Kingdom Industrials company (Engineering & Construction) with a market value of $5.34B, the 93rd largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £851.50 on 6 Nov 2026.
Performance Over six months the shares gained 0.9%, against -9.9% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 12.1% over the last twelve months (peer median +11.9%); the operating margin is 1.8% (peer median 8.4%).
Valuation It trades at 17.2× forward earnings against a peer median of 14.5× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -4 pp: the price already allows for a slowdown.
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £9.95B | £9.49B | £8.23B | £7.99B | £7.63B |
| Revenue growth | — | +15% | +3% | +5% | — |
| Gross profit | £500M | £453M | £413M | £407M | £421M |
| EBITDA | £294M | £309M | £269M | £269M | £279M |
| Net income | £259M | £263M | £178M | £197M | £288M |
| Free cash flow | £646M | £692M | £323M | £282M | £269M |
| Capital expenditure | £86.0M | £85.0M | £64.0M | £138M | £32.0M |
| Total debt | n/a | £1.02B | £1.11B | £979M | £738M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Balfour Beatty BBY.L | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% |
| Kier KIE.L | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% |
| Aecom ACM | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| Vinci DG.PA | $69.8B | -12% | +4% | 12% | 12.2× | -1.5% |
| Costain COST.L | $890M | +30% | -6% | 5% | 16.5× | 0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BBY.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.7% | +1.4% | 9th lowest of 21 |
| 6-month return | +0.9% | -9.9% | 9th highest of 21 |
| Distance from 52-week high | -12.5% | -26.0% | 6th highest of 21 |
| Revenue growth (TTM) | +12.1% | +11.9% | 10th highest of 20 |
| Operating margin | 1.8% | 8.4% | 3rd lowest of 21 |
| Forward P/E | 17.2× | 14.5× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 1.0% | 5.0% | 7th least demanding of 18 |
| Growth delivered (Del g) | +5.3% | +9.7% | 4th lowest of 17 |
| Hurdle (Req g minus delivered) | -4.3 pp | -6.9 pp | 8th most demanding of 17 |
| Net debt / EBITDA | -3.4× | 1.0× | 2nd least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
| Kandenko 1942.T | Japan | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% | +5.9% |
| SOLV Energy MWH | United States | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% | n/a |
| CTF Services 0659.HK | Hong Kong | $5.13B | +2% | +12% | 11% | 13.8× | 1.7% | -0.8% |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
| MAIRE MAIRE.MI | Italy | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% | +22.1% |
| Tutor Perini TPC | United States | $4.73B | +8% | +25% | 4% | 18.8× | 9.6% | +0.8% |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |