Aecom Technology Corporation (ACM) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Aecom Technology Corporation stock $89.18, price $66.72, upside +33.7%, quality 63 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $58.02 – $132.85 · fair‑value band $59.31 – $121.00 · the $66.72 price screens below the $89.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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AECOM, together with its subsidiaries, provides professional infrastructure consulting services for governments, businesses, and organizations internationally. The company operates in three segments: Americas, International, and AECOM Capital.
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The company offers advisory, planning, consulting, architectural and engineering design, construction and program management services, and investment and development services to public and private clients in major end markets such as transportation, facilities, water, environmental, and energy.
It is also involved in the investment and development of real estate projects. The company was formerly known as AECOM Technology Corporation and changed its name to AECOM in January 2015. AECOM was incorporated in 1980 and is headquartered in Dallas, Texas.
Stock analysis
Aecom Technology Corporation (ACM) currently trades at $66.72, while our model-based Fair Value estimate is $89.18, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $91.67 per share, and 16 of the 24 models we run sit above the $66.72 price.
Bear case: the Dividend Discount group reads lowest at $14.03, and 8 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $59.31 (bear) to $121.00 (bull), the price of $66.72 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Aecom Technology Corporation reported revenue of $16.1B in FY2025 versus $13.3B in FY2021, a compound +4.9%/yr. Reported net income was $562M in FY2025, compounding +34.2%/yr from FY2021.
Key figures
Market cap $8.6B Mid · P/E ratio 23.5 · P/S ratio 0.56 · EPS (TTM) $2.84 · Dividend yield 1.8% · Net margin 1.9% · Return on equity 16.6% · Return on assets (EBIT) 5.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 50% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 34%, ACM screens cheaper than that median.
Fair Value models
Bear$59.31Fair Value $89.18Bull$121.00
Price $66.72 · Upside +33.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($1.65 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 3 officers or directors bought shares worth $699,391, most recently on Jun 16, 2026. Buying cluster
BuyLara PoloniPRESIDENT4,224 shares at $70.63$298,341Jun 16, 2026
BuyTroy RuddCHIEF EXECUTIVE OFFICER, Director4,225 shares at $71.02$300,060May 14, 2026
BuyGaurav KapoorCHIEF FINANCIAL OFFICER (PAO)1,420 shares at $71.12$100,990May 14, 2026
SaleLara PoloniPRESIDENT17,533 shares at $97.02$1.7MDec 17, 202510b5-1 plan
SaleDavid Y. GanCHIEF LEGAL OFFICER15,502 shares at $97.72$1.5MDec 17, 202510b5-1 plan
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.66/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
Start year 2020 (pandemic). Over 10 years: −1.1% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+39.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+37.4%
Dividend (yield on the price)1.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.29.5% vs 11.1%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 6%
2025 sits 94% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+2.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.5% a year for the price and −0.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The business benefits from major program management wins in infrastructure corridors and a growing data center pipeline alongside a record backlog, yet thin margins and legacy project charges constrain cash flows and execution.
Main risk: Legacy charges from an older construction management project threaten to weigh on cash flows through the first half of next year, constraining near-term execution.
AECOM keeps landing major program management work on big infrastructure corridors while its core design services hold up well. A large charge from an older construction management project however hit the latest quarter and is likely to weigh on cash flows through the first half of next year. Will the fast-growing data center pipeline and record backlog deliver the targeted organic growth before those legacy issues fully clear, or will near-term execution remain the bigger constraint?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 787 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+33.7% · Above median
Profitability
Return on equity (12 months)16.6% · Top 25%
Return on assets4.6% · Above median
Net margin (12 months)1.9% · Below median
Operating margin (12 months)−1.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−14.2% · Bottom 25%
Dividend yield (12 months)1.8% · Below median
Balance sheet
Debt / equity1.06× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)23.5× · Pricier than median
P/B3.44× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.56× · Cheaper than median
Price / free cash flow (fiscal year)12.5× · Cheaper than median
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Is Aecom Technology Corporation (ACM) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $89.18 versus a price of $66.72, about +34% upside (undervalued).
What is the fair value of ACM?
Our model-based fair value for Aecom Technology Corporation is $89.18 (as of Nov 4, 2026), built from audited fundamentals. The current price: $66.72.
What is the quality score of ACM?
Aecom Technology Corporation has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Aecom Technology Corporation (ACM)?
Our model-based price target is the fair value of $89.18 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $59.31, optimistic scenario $121.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Aecom Technology Corporation stock forecast for 2026?
Our models put fair value at $89.18, about +34% upside versus a price of $66.72 (undervalued). Cautious scenario $59.31, optimistic scenario $121.00. The calculation is refreshed regularly with new filings.
What is the revenue of Aecom Technology Corporation (ACM)?
Aecom Technology Corporation reported trailing-twelve-month revenue of about $15.4B (latest available figure, as of Nov 4, 2026).
Does Aecom Technology Corporation pay a dividend?
Aecom Technology Corporation currently shows a dividend yield of 1.78% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Aecom Technology Corporation (ACM)?
For today's price to be fair in a discounted-cash-flow model, Aecom Technology Corporation would have to grow free cash flow by +2.9 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.0 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of ACM use?
Our models discount Aecom Technology Corporation at 9.6 %: a base by market capitalisation (mid), damped by beta 0.93, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Aecom Technology Corporation that is +2.9 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Aecom Technology Corporation (ACM) delivered so far?
Over the past 5 years revenue at Aecom Technology Corporation grew +4.0 % a year. The price currently implies +2.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Aecom Technology Corporation (ACM) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Aecom Technology Corporation (+2.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aecom Technology Corporation (ACM)?
The free-cash-flow yield on the price is 7.98 %: that much free cash flow Aecom Technology Corporation produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aecom Technology Corporation (ACM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aecom Technology Corporation it is $89.18 per share (as of Nov 4, 2026), against a price of $66.72. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Aecom Technology Corporation stock overvalued or undervalued in 2026?
As of Nov 4, 2026, ACM trades below its calculated fair value: price $66.72, fair value $89.18, a gap of about +34% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ACM?
No. The price is what the market pays today ($66.72); the fair value is what the company's own numbers justify ($89.18). For Aecom Technology Corporation the two are $22.46 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aecom Technology Corporation worth?
The market values Aecom Technology Corporation at about $8.6B (market capitalisation, as of Nov 4, 2026). Per share that is $66.72; our models calculate a fair value of $89.18 per share.
What do the bullish and bearish scenarios say about ACM?
Our models span a range for Aecom Technology Corporation: cautious scenario $59.31, base $89.18, optimistic $121.00 per share (as of Nov 4, 2026, price $66.72). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ACM?
Aecom Technology Corporation trades at a price-to-earnings ratio of 23.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $89.18 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 36.9. Other multiples: PEG 0.7, P/B 3.4, P/S 0.6, EV/EBITDA 10.4.
What is the PEG ratio of ACM?
The PEG ratio of Aecom Technology Corporation is 0.65 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Aecom Technology Corporation (ACM)?
Balance-sheet figures for Aecom Technology Corporation (as of Nov 4, 2026): return on equity 16.6%, debt of 1.06 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is ACM from its 52-week high?
Aecom Technology Corporation trades at $66.72, about 50% below its 52-week high of $132.31 and 15% above the low of $58.02 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $89.18 is for.
Which stocks are comparable to Aecom Technology Corporation?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Aecom Technology Corporation stock attractive at the current price?
The data as of Nov 4, 2026: price $66.72, calculated fair value $89.18 (+34%), Quality Score 63/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ACM calculated?
We run Aecom Technology Corporation through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $89.18, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Aecom Technology Corporation currently trades 25% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Aecom Technology Corporation (ACM)?
The closing price on Nov 5, 2026 was $66.72. Our model-based fair value is $89.18, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aecom Technology Corporation right now?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($59.31 to $121.00) leaves room in how you read the outcome.
Where does the earnings growth of Aecom Technology Corporation (ACM) come from?
Earnings per share at Aecom Technology Corporation grew +7.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.3 %, EBIT margin +5.7 %, tax rate −2.3 %, residual (interest, one-offs) +2.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Aecom Technology Corporation
How large is the market capitalisation of Aecom Technology Corporation (ACM)?
The market capitalisation of Aecom Technology Corporation is $8.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Aecom Technology Corporation (ACM)?
The price-to-sales ratio of Aecom Technology Corporation is 0.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aecom Technology Corporation (ACM)?
Earnings per share at Aecom Technology Corporation are $2.84 (price ÷ EPS = P/E 23.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aecom Technology Corporation (ACM)?
The dividend yield of Aecom Technology Corporation is 1.8% (payout 41.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Aecom Technology Corporation (ACM)?
The net margin of Aecom Technology Corporation is 1.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Aecom Technology Corporation (ACM)?
The return on equity (ROE) of Aecom Technology Corporation is 16.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Aecom Technology Corporation (ACM)?
On an EBIT basis the return on assets of Aecom Technology Corporation is 5.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Aecom Technology Corporation (ACM)?
The operating margin of Aecom Technology Corporation is −1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aecom Technology Corporation (ACM)?
Revenue at Aecom Technology Corporation is growing −14.2% versus a year earlier (3y avg +7.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Aecom Technology Corporation (ACM)?
Earnings per share at Aecom Technology Corporation are growing +28.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aecom Technology Corporation (ACM) carry?
The net debt of Aecom Technology Corporation is $1.8B (fiscal year 2025, ≈ 2.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026