AECOM: The World's Trusted Infrastructure Consulting Firm

Over the last several years, we have transformed our company into a higher margin, lower risk Professional Services firm, which is built on the foundation of 52,000 of the industry's best technical professionals. To get there, we created a culture of collaboration and executed on our new Think and Act Globally strategy to expand our competitive advantage. This has allowed us to consistently meet or exceed our strategic and financial commitments and deliver industry-leading value creation.

The strength of our teams and strategy places the company in an enviable position as a leading firm in our industry.

52k

Professionals

Ranked transportation & facilities design firm, and environmental engineering & science by ENR

10 yrs

Named one of Fortune’s World’s Most Admired Companies for 10 consecutive years

$21.4B

Record design backlog

Market Leader

Through our narrowed focus, we have established the leading position across all of our end markets that are positioned for substantial growth over the next several decades. In addition, by prioritizing our time and capital on the highest-returning markets, 90% of our profit is located in our core geographies including the U.S., Canada, U.K. and Ireland, and Australia, where we have an unrivaled technical capability.

ENR Rankings:

Transportation Design Firm
Environmental Consulting Firm
Facilities Design Firm
Environmental
Engineering Firm
Environmental Science Firm
Green Design Firm

Environmental Firm

Water Design Firm

Program Management

Green Contractor

Our Strategy

We are a complete consulting firm ideally suited for the opportunities ahead partnering with clients to address their primary challenges against a backdrop of rising project size and complexity.

Building on our technical capabilities, we have expanded our addressable market in program management and advisory to participate across the lifecycle of our clients’ programs. This has resulted in a record win rate on our largest pursuits and has allowed us to capture a greater share of the profit opportunity on a project.

Day ONE

ADVISING ON THE FUTURE OF INFRASTRUCTURE AND BUILDING A BETTER WORLD

Engaging with clients earlier to understand their needs and shape their investment
Providing outcome-focused solutions with greater value
Developing long-range strategic plans that address multi-decade transformations

Day TWO

PROGRAM MANAGEMENT

Elevating the value of our technical expertise and expanding our addressable market
Extending the relationship with our largest clients
Creating new opportunities to position for the most iconic pursuits
Enhancing our long-term earnings power and visibility

Day THREE

PROJECT DESIGN & EXECUTION

Executing on the world’s most complex infrastructure projects
Delivering throughout the entire project lifecycle
Expanding our technical expertise and competitive advantage
Extending our digital capabilities to broaden the value we can bring to clients

Our Projects

We have created a sustainable competitive advantage through our technical expertise, expanded addressable market in program management and advisory, and a culture of collaboration to win the highest value pursuits.

By executing on this strategy, we are winning the projects that extend our long-term earnings power and visibility at a consistently high rate.

Intuit Dome

Lead designer for the new venue that will raise the bar for sustainability and is pursuing LEED Platinum Certification.

Natural Capital Laboratory

Conducting a five-year living experiment that will document the rewilding of the 100-acre site’s natural environment and reintroduce extinct species in the Scottish Highlands.

Second Avenue Subway

Helping deliver the first major expansion of the New York City Transit subway system in over 50 years that leverages our tunneling and station design expertise.

Our Commitments

Benefiting from investments in our growth initiatives, our performance is leading the industry.

By executing on our Think and Act Globally strategy, we have created a differentiated leader and are consistently delivering on the high bar we set. Our business is growing at a fast rate, we continue to set and achieve industry-leading margins, we are growing EPS at the highest compound rate in our industry, and we have the highest return on capital in our industry.

Industry-Leading Margins

Segment Adjusted⁵ Operating Margin¹

Double-Digit Adjusted EBITDA Growth

Adjusted⁵ EBITDA⁶

Compounding Earnings per Share

Adjusted⁵ EPS

Highest-Returning Platform in the Industry

Return on Invested Capital⁷ (ROIC)

Capital Allocation Policy

Backed by a strong balance sheet with low net leverage, approximately 80% of our debt is fixed, swapped or capped over the next several years, and no near-term debt maturities resulting in certainty.

Under our returns-focused capital allocation policy, we prioritize investments in organic growth followed by returning substantially all available cash flow to shareholders through share repurchases and our quarterly dividend program.

Capital Allocation Framework

By combining industry-leading organic growth and margins with our disciplined capital allocation policy, we are delivering superior long-term shareholder value.

Organic Growth Investments

Organic growth investments are our highest-returning use of capital with a greater than 40% ROIC.
We are focused on investing in our people, clients and digital capabilities, not risky and low returning M&A

Share Repurchases

Share repurchases are our best and highest return after organic growth investments. 
We have repurchased $1.8 billion shares since September 2020 and increased our share repurchase authorization to $1 billion in November 2023.

Quarterly Dividend Program

As part of our commitment to grow our per share dividend by double-digits annually, we increased our dividend payment by 22% in November 2023. 
This marks the second consecutive year, where we have increased our dividend by 21% on average.

Long-Term Framework:

Reflecting the next phase of our value creation journey, we unveiled a long-term financial framework highlighted by high-returning organic growth, a substantial margin expansion opportunity, and double-digit annual adjusted EPS and free cash flow per share growth. This framework reflects our ambition to achieve a best-in-class financial profile and competitive advantages that mirror the highest-value Professional Services and consulting firms.

	FY'24 Guidance	Long-Term Annual Growth Targets
Segment Adjusted² Operating Margin³ Expansion	+90 bps	20 - 30 bps
Adjusted² EPS and Free Cash Flow⁴	20%*	Double-Digits
Free Cash Flow⁴ Conversion	100%+	100%+
Return on Investment Capital⁵	~20%	25%+
Per Share Dividend Growth	22%	Double-Digit Increase

*Percentage refers to only adjusted EPS.

Footnotes:

1Reflects segment operating performance, excluding AECOM Capital and G&A.
2Revenue, less pass-through revenue; growth rates are presented on a constant-currency basis.
3AEC peers consist of Jacobs, Tetra Tech, Stantec and WSP.
4Net leverage is comprised of EBITDA as defined in the Company’s credit agreement dated October 17, 2014, as amended, and total debt on the Company’s financial statements, net of total cash and cash equivalents.
5Excludes the impact of certain items, such as restructuring costs, amortization of intangible assets, non-core AECOM Capital and other items. See Regulation G Information for a reconciliation of non-GAAP measures to the comparable GAAP measures.
6Net income before interest expense, tax expense, depreciation and amortization.
7Return on invested capital, or ROIC, reflects continuing operations and is calculated as the sum of adjusted net income as presented in the Company’s Regulation G Information and adjusted interest expense, net of interest income, divided by average quarterly invested capital as defined as the sum of attributable shareholder’s equity and total debt, less cash and cash equivalents.
8Free cash flow is defined as cash flow from operations less capital expenditures, net of proceeds from equipment disposals. Free cash flow conversion is presented as a percentage of adjusted net income.