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Fluor is dedicated to building a better world by applying our world-class expertise to solve our clients' greatest challenges. We deliver professional and technical solutions that emphasize safety, operational excellence and capital efficiency for our clients.
The business is unprofitable at the operating level (-2.44% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 5.0% YoY. Margins deteriorated 5.3pp alongside, both lines moving the wrong way.
Free cash flow declined 166% versus the prior year, cash generation momentum has weakened. ROIC dropped from 8.97% to -6.38%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$15.18B
▼ -5.0% YoY
Net Income (TTM)
$341M
▼ -102.4% YoY
Op. Margin
-2.48%
▼ -5.3pp YoY
ROIC
-5.53%
▼ -15.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$41M
▼ -165.8% YoY
Op. Cash Flow (TTM)
$9M
▼ -146.7% YoY
Net Debt
-$2.17B
Net Cash Position
Cash & Equiv.
$3.24B
5Y CAGR: -0.4%
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