AECOM

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $550M normalized FCF base (average of FY2025 actual free cash flow of $685.2M and FY2026 company guidance of ~$400M, which includes planned AI-investment spending); 5% annual FCF growth years 1-5; 3% years 6-10; 8% discount rate; 2.5% terminal growth; less $1,158.0M net debt (as of Sept 30, 2025); 128.5M current shares outstanding.

Reasoning: AECOM is a large, stable, investment-grade global infrastructure engineering/consulting firm with a record $24.8B backlog, ~16.5% segment margins and consistent free cash flow conversion, which warrants a standard low-risk unlevered FCF DCF rather than a specialized method.