AECOM
In the published model solve dated 2026-Q2, anchored at $66.58, AECOM (ACM) is priced for +10.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• AECOM sells hours rather than assets, and how the work is contracted matters more than how much of it there is: 38% of revenue comes on cost-reimbursable terms where the client carries cost variance, 37% of revenue under guaranteed-maximum-price arrangements, and 25% of revenue on fixed price where an estimating error is the contractor's problem. • The gap between reported profit and collected cash is the live risk, with about $410 million of free cash flow emerging from $1.02 billion of trail
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598 institutional managers reported holding ACM in 13F filings for the quarter ended 2026-03-31. Together they hold about 87% of the company; the top 10 hold 47%. 90 opened new positions that quarter. Held by BlackRock, Vanguard Group, PRIMECAP Management, among others. On the short side, 6.3M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ACM has cut its share count 11.9% over the past five years, spending $2.28B on repurchases. It pays a dividend, and has for 4 years running, raised 3 years straight. Cash returned over the past three years: $349.48M in dividends and $1.54B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ACM over the trailing three years: 2026: 1 buy totaling $298k. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ACM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-10 | -4.2% | +8.6% |
| 2023-08-10 | -1.3% | -5.5% |
| 2024-02-08 | -1.9% | +7.9% |
| 2024-05-08 | -1.7% | -9.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ACM's latest 8-K filings: 2026-08-10 (items 2.02, 9.01); 2026-06-11 (items 1.01, 2.03, 9.01); 2026-06-03 (items 8.01, 9.01); 2026-05-11 (items 2.02, 9.01); 2026-03-10 (items 1.01, 2.03, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.