公司概述
Fluor Corporation operates as a global provider of engineering, procurement, and construction services, along with fabrication, modularization, and project management solutions across various industries. The company functions within the Industrials sector, specifically targeting the Engineering & Construction industry, which positions it as a critical infrastructure developer for clients requiring complex technical execution. Its operational scale is defined by a market capitalization of $7.19B, an annual revenue of $15.50B over the trailing twelve months, and a workforce comprising 22,995 employees. These valuation and revenue figures indicate that Fluor maintains a substantial footprint in the industrial services market, serving as a significant contractor for major urban, energy, and mission-critical projects worldwide.
财务健康
The company reported revenue of $15.50B for the trailing twelve months, yet generated a net income of -$51,000,000 and an EBITDA of -$201,000,000. The substantial gap between the positive revenue of $15.50B and the negative net income of -$51,000,000 reveals a cost structure characterized by significant operating expenses or non-operating charges that have eroded profitability on a net basis. Free cash flow stands at -$292,375,008, indicating that current operational cash generation is insufficient to cover capital expenditures and working capital requirements, thereby limiting immediate financial flexibility without external financing. Gross margin is -0.8%, operating margin is 2.0%, and profit margin is -0.3%, suggesting that while operating costs are slightly controlled relative to gross revenue, the overall pricing power or project profitability is currently under pressure, resulting in a negative bottom line. The company holds $3.77B in cash against $1.07B in debt, supported by a debt-to-equity ratio of 32.65, which suggests a balance sheet that remains heavily leveraged given the negative earnings environment. Despite the high debt load, the current ratio of 1.91 indicates strong short-term liquidity, meaning the company possesses nearly double the current assets required to meet its current liabilities. Return on Equity is -1.7% and Return on Assets is -1.9%, metrics that reveal management has not yet achieved positive returns on shareholder capital or the asset base utilized during this reporting period.
估值评估
Fluor Corporation has a trailing P/E ratio listed as N/A due to the negative net income, while the forward P/E is 15.09. The existence of a forward P/E despite a negative trailing P/E implies that the market anticipates a turnaround in earnings trajectory or relies on projected profitability that has not yet been realized in historical results. The price-to-book ratio is 2.30, indicating that the market is currently valuing the company at more than double its net asset value, which may reflect a premium for its engineering capabilities or a discount for its current loss position depending on the specific market context. Alternative valuation metrics show a price-to-sales ratio of 0.46 and an EV/EBITDA of -22.50, suggesting that the stock is priced at less than half of its sales revenue, while the negative EV/EBITDA highlights the lack of earnings generation relative to enterprise value. The 52-week high is $57.50 and the 52-week low is $30.31, meaning the current trading price sits somewhere within this range, reflecting significant volatility over the past year. With a beta of 1.30, the stock exhibits price volatility that is 30% higher than the broader market, indicating that the asset is more sensitive to market movements than large-cap industrial peers.
Growth & Income
Revenue growth year-over-year is -2.0%, while earnings growth is listed as N/A due to the negative earnings baseline. The negative revenue growth indicates a contraction in top-line sales, and since earnings are also negative, the comparison implies that the company is currently managing a decline in both volume and profitability rather than expanding faster than its peers. As a non-dividend payer, the company has a dividend yield of N/A and a payout ratio of 0.0%, reflecting a capital allocation strategy where earnings are theoretically reinvested or retained rather than distributed to shareholders, although the negative earnings limit actual reinvestment capacity. The overall growth and income profile is characterized by a contraction in revenue and a complete absence of dividend income, placing the asset in a category focused on potential future operational recovery rather than current yield generation.