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Global engineering, procurement and construction (EPC) firm serving energy, chemicals, government and mining/metals clients.
Global engineering, procurement and construction (EPC) firm serving energy, chemicals, government and mining/metals clients.
Is paid on contracts that are either cost-reimbursable, where the client covers costs plus a fee, or fixed-price, where overruns come out of its own pocket; after large losses on fixed-price jobs it has steered toward reimbursable work. Revenue comes from the backlog of awarded projects, which turns into sales over several years. It holds a significant stake in NuScale Power, the small-nuclear-reactor developer.
Moat: narrow (scale, installed base, brand). Large-scale project-delivery track record, though EPC contracts carry meaningful execution risk.
Headquarters: Irving, Texas, US · Founded: 1912 · Employees: 22,995
Size Fluor (FLR) is a United States Industrials company (Engineering & Construction) with a market value of $6.22B, the 1039th largest of 3,117 United States companies the cockpit tracks. Shares closed at $46.48 on 6 Nov 2026.
Performance Over six months the shares gained 7.3%, against -10.4% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 4.8% over the last twelve months (peer median +11.6%); the operating margin is -2.1% (peer median 8.4%).
Valuation It trades at 14.2× forward earnings against a peer median of 13.2× (10th most expensive of 21).
Capital Return on invested capital runs 39.1 points below its cost of capital (10.2% WACC).
Backlog Backlog (remaining performance obligations) was $33.3B at 30 Sep 2026, up 24% on a year earlier — 2.1 years of trailing revenue. Backlog detail →
Credit Fluor has 2 bonds outstanding ($1.07B), rated BB+ by the agencies and trading like BBB- at a weighted spread of 104 bp.
Short interest Short interest is 8.1% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.5B | $15.5B | $16.3B | $15.5B | $13.7B |
| Revenue growth | — | -5% | +5% | +13% | — |
| Gross profit | -$124M | -$120M | $574M | $477M | $363M |
| EBITDA | -$269M | -$248M | $444M | $319M | $210M |
| Net income | -$2.00B | -$51.0M | $2.15B | $139M | $145M |
| Free cash flow | -$330M | -$437M | $664M | $101M | -$44.0M |
| Capital expenditure | $43.0M | $50.0M | $164M | $111M | $75.0M |
| Total debt | $1.07B | $1.07B | $1.10B | $1.30B | $1.30B |
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 |
|---|---|---|---|---|---|---|
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| Jacobs Solutions J | $17.4B | +26% | +20% | 5% | 18.6× | 15.8% |
| KBR KBR | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% |
| Technip Energies TE.PA | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% |
| Worley WOR.AX | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% |
| Jgc 1963.T | $2.94B | -18% | -15% | 6% | 10.0× | n/a |
| Chiyoda 6366.T | $1.07B | -35% | +16% | 17% | 6.7× | n/a |
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 | FLR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | +1.9% | 6th lowest of 21 |
| 6-month return | +7.3% | -10.4% | 5th highest of 21 |
| Distance from 52-week high | -20.3% | -28.0% | 9th highest of 21 |
| Revenue growth (TTM) | -4.8% | +11.6% | 3rd lowest of 20 |
| Operating margin | -2.1% | 8.4% | 2nd lowest of 21 |
| Forward P/E | 14.2× | 13.2× | 10th most expensive of 21 |
| ROIC minus cost of capital | -39.1 pp | +4.2 pp | lowest of 17 |
| Bond spread | 104 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |
| Technip Energies TE.PA | France | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% | +4.6% |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| 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% |
| Metallurgical Corporation of China 601618.SS | China | $7.54B | -10% | -21% | -4% | 11.4× | -0.5% | +2.6% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |
| 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% |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
Fluor has 2 bonds outstanding with $1.07B face value. The agencies rate it BB+; its bonds trade like BBB-. Weighted yield 5.48%, a spread of 104 bp over government bonds.
Fluor reported $33.3B of remaining performance obligations at 30 Sep 2026, up 24% from a year earlier and up 29% from the previous quarter. That is 2.1 years of trailing revenue already under contract. Book-to-bill last quarter: 3.01.