FLR Industrials

Fluor Corporation

$47.99+3.47%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 6.4B USD
Enterprise value: 4.3B USD
Full-time employees: 22,995

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.28 vs a peer median of 0.64)bigger price swings (beta 1.28 vs peers 0.64)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #2,186 of 2,308 industrials companies (bottom 6%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $879M vs $333M of free cash flow over the 3 fiscal years to 2025.
Fluor returned $879M to shareholders over three years, 264% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Earnings slid into a loss. Loss per share this year after a profit last year.
Fluor made a loss per share in its latest year after a profit the year before.
Share count shrinking. Shares outstanding down 6.0% from December 2022 to July 2026.
Fluor had 6.0% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $114M profit in the quarter to June 2026.
Fluor reported a net loss over the last twelve months, but its most recent quarter was profitable ($114M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

17/ 100

Oct 5 17 → Nov 4 17

Valuation

Is the price right?

9/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 4.2%

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-31.1%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield-3.4%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-5.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield41.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

18/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.3%

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.21Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth1.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.49Sector median: 0.0421 · MAD: 0.0625

Revenue growth-4.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.20Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

6/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Turned to a loss over the last 12 months

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.80Sector median: 0.0773 · MAD: 0.0507

Return on assets-26.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.56Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-20.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.78Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin-0.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-74.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 34 → 33

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Held back by:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.28

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.32Sector median: 0.6440 · MAD: 0.2745

Current ratio1.80×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.33Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.40×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.01Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Fluor

Is Fluor getting weaker?: Its latest SEC filing (Aug 7, 2026) was mixed: some things better, some worse: turned to a loss over the last 12 months; share count down 4.2%. Its overall score is unchanged at 17/100 since Oct 28, 2026.
How is Fluor valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -31.1% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -31.1% vs peers 3.8% (weaker than 100% of peers).
Is Fluor growing?: More slowly than most of its peers. Growth scores 18/100 against 2,459 industrials peers. Revenue growth -4.8% vs a peer median of 4.4% (weaker than 78% of peers).Revenue growth -4.8% vs peers 4.4% (weaker than 78% of peers).
How profitable is Fluor?: Less profitable than most of its peers. Profitability scores 6/100 against 2,459 industrials peers. Return on assets -26.5% vs a peer median of 3.1% (weaker than 100% of peers).Return on assets -26.5% vs peers 3.1% (weaker than 100% of peers).
How risky is Fluor?: Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.28 vs a peer median of 0.64 (weaker than 87% of peers).Beta 1.28 vs peers 0.64 (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026

Mixed: some things better, some worse

Turned to a loss over the last 12 months
Share count down 4.2%

Worth watching: Fluor is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	15.2B USD	15.5B USD	+2.3%
Net income (12 months)	350.0M USD	−2.0B USD	turned negative
Operating margin	-2.5%	-1.4%	+1.1 pts
Free cash flow (12 months)	−41.0M USD	−330.0M USD	+704.9%
Debt	1.1B USD	1.1B USD	+0.1%
Cash	3.2B USD	2.9B USD	−8.3%
Shares outstanding	139.7M	133.7M	−4.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	3.2%	2.6%	3.1%	3.5%	-0.8%	▼ 4.3 pts
Operating margin	-1.9%	1.5%	0.9%	2.8%	-2.4%	▼ 5.3 pts
Net margin	-3.1%	1.1%	0.9%	13.1%	-0.3%	▼ 13 pts
Return on assets (ROA)	-6.2%	2.1%	2.0%	23.5%	-0.6%	▼ 24 pts
Return on equity (ROE)	-31.6%	8.1%	7.2%	54.3%	-1.6%	▼ 56 pts
Free cash flow margin	-0.4%	-0.3%	0.7%	4.1%	-2.8%	▼ 6.9 pts
Current ratio	1.43×	1.57×	1.60×	1.69×	1.91×	▲ 13%
Debt to equity	0.86×	0.63×	0.60×	0.28×	0.33×	▲ 18%
Interest coverage	-3.03×	3.54×	2.45×	10.07×	-9.00×	▼ 189%

FLR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.28 vs a peer median of 0.64)bigger price swings (beta 1.28 vs peers 0.64)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #2,186 of 2,308 industrials companies (bottom 6%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $879M vs $333M of free cash flow over the 3 fiscal years to 2025.

Fluor returned $879M to shareholders over three years, 264% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Earnings slid into a loss. Loss per share this year after a profit last year.

Fluor made a loss per share in its latest year after a profit the year before.

Share count shrinking. Shares outstanding down 6.0% from December 2022 to July 2026.

Fluor had 6.0% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $114M profit in the quarter to June 2026.

Fluor reported a net loss over the last twelve months, but its most recent quarter was profitable ($114M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Fluor

Is Fluor getting weaker?

Its latest SEC filing (Aug 7, 2026) was mixed: some things better, some worse: turned to a loss over the last 12 months; share count down 4.2%. Its overall score is unchanged at 17/100 since Oct 28, 2026.

How is Fluor valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 9/100 against 2,459 industrials peers. Earnings yield -31.1% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -31.1% vs peers 3.8% (weaker than 100% of peers).

Is Fluor growing?

More slowly than most of its peers. Growth scores 18/100 against 2,459 industrials peers. Revenue growth -4.8% vs a peer median of 4.4% (weaker than 78% of peers).Revenue growth -4.8% vs peers 4.4% (weaker than 78% of peers).

How profitable is Fluor?

Less profitable than most of its peers. Profitability scores 6/100 against 2,459 industrials peers. Return on assets -26.5% vs a peer median of 3.1% (weaker than 100% of peers).Return on assets -26.5% vs peers 3.1% (weaker than 100% of peers).

How risky is Fluor?

Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.28 vs a peer median of 0.64 (weaker than 87% of peers).Beta 1.28 vs peers 0.64 (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

15.2B USD

15.5B USD

+2.3%

Net income (12 months)

350.0M USD

−2.0B USD

turned negative

Operating margin

-2.5%

-1.4%

+1.1 pts

Free cash flow (12 months)

−41.0M USD

−330.0M USD

+704.9%

Debt

1.1B USD

1.1B USD

+0.1%

Cash

3.2B USD

2.9B USD

−8.3%

Shares outstanding

139.7M

133.7M

−4.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

3.2%

2.6%

3.1%

3.5%

-0.8%

▼ 4.3 pts

Operating margin

-1.9%

1.5%

0.9%

2.8%

-2.4%

▼ 5.3 pts

Net margin

-3.1%

1.1%

0.9%

13.1%

-0.3%

▼ 13 pts

Return on assets (ROA)

-6.2%

2.1%

2.0%

23.5%

-0.6%

▼ 24 pts

Return on equity (ROE)

-31.6%

8.1%

7.2%

54.3%

-1.6%

▼ 56 pts

Free cash flow margin

-0.4%

-0.3%

0.7%

4.1%

-2.8%

▼ 6.9 pts

Current ratio

1.43×

1.57×

1.60×

1.69×

1.91×

▲ 13%

Debt to equity

0.86×

0.63×

0.60×

0.28×

0.33×

▲ 18%

Interest coverage

-3.03×

3.54×

2.45×

10.07×

-9.00×

▼ 189%