AECOM

Balance sheet leverage is modest with net leverage at about 1.2x and net debt near 1.71 billion dollars as of March 31, 2026. Interest expense is manageable with an average effective debt rate of roughly 5.1% in FY2025. TTM free cash flow to March 31, 2026 is approximately 410 million dollars despite H1 timing headwinds; capex needs are low (about 137 million dollars in FY2025 on 16.1 billion dollars of revenue).

Liquidity is ample with over 1.0 billion dollars of cash and significant revolver capacity. Risks include goodwill concentration and project claims variability, but overall financial flexibility is solid.