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Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2023, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $38.70 today, the market must believe free cash flow compounds 2.7%/yr for a decade (off $339.5M on the 3-yr avg basis).
Default is 7.6% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.13B shares (market data) · net debt $2.10B
mean 49.3% · volatility σ 96% · implied rate exceeded in 5/8 yrs
Central path = implied 2.7%/yr growth; shaded band = ±1σ (96%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 13 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| J | $17.9B | 64.2× | — | 1.5× | 4.6% | 24.8% | 2.4% | 7.9% | 4.9% | — | 239 |
| MTZ | $14.3B | 35.1× | — | 1.0× | 16.2% | — | 2.8% | 12.2% | 12.2% | — | 178 |
| STRL | $11.4B | 39.8× | 23.5× | 4.6× | 17.7% | 23.0% | 11.7% | 26.2% | 20.7% | -0.2× | 201 |
| DY | $7.2B | 25.1× | — | 1.3× | 17.9% | — | 5.1% | 15.1% | 6.0% | — | 115 |
| FLR | $6.4B | — | — | 0.4× | -5.0% | -0.8% | -0.3% | -1.6% | -1.2% | — | 109 |
| GVA | $5.4B | 31.5× | 14.0× | 1.2× | 10.4% | 16.1% | 4.4% | 16.4% | 7.7% | 1.8× | 74 |
| ROAD | $5.2B | 49.8× | 18.1× | 1.9× | 54.2% | 15.6% | 3.6% | 11.2% | 4.0% | 4.0× | 68 |
| KBR | $4.8B | 11.9× | 8.4× | 0.6× | 1.0% | 14.8% | 5.3% | 27.6% | 10.1% | 2.5× | 79 |
| MYRG | $4.4B | 37.6× | 18.5× | 1.2× | 8.8% | 11.6% | 3.2% | 17.9% | 16.5% | -0.4× | 85 |
| PRIM | $4.1B | 15.1× | 8.0× | 0.5× | 19.0% | 10.7% | 3.6% | 16.4% | 12.8% | -0.1× | 81 |
| PLPC | $1.6B | 44.8× | 20.5× | 2.3× | 12.7% | 31.2% | 5.3% | 7.4% | 6.9% | 0.5× | 43 |
| ORN | $370M | 151.8× | 13.3× | 0.4× | 7.0% | 12.4% | 0.3% | 1.6% | 1.5% | 0.2× | 29 |
| CDNL | $338M | — | 3.7× | 0.7× | 44.7% | — | 5.0% | 38.8% | 38.8% | -1.5× | 15 |
| ESOA | $182M | 489.0× | 14.3× | 0.4× | 16.8% | 9.4% | — | — | — | 3.0× | 18 |
Peers = companies sharing KBR's sector (Heavy Construction Other Than Bldg Const - Contractors) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $84.0M dividends + $329.0M buybacks = $413.0M returned.
7 consecutive years of dividend increases · 8%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 10%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $536.0M covers all $43.0M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2016-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~6.1% on $2.60B of debt.
Cash of $500.0M fully covers short-term debt of $49.0M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.79B 100.0% | $7.71B 100.0% | $6.96B 100.0% | $6.56B 100.0% | $7.34B 100.0% | $5.77B 100.0% | $5.64B 100.0% | $4.91B 100.0% | $4.17B 100.0% | $4.27B 100.0% |
| Cost of Revenue | $6.64B 85.2% | $6.61B 85.7% | $5.98B 86.0% | $5.74B 87.4% | $6.53B 89.0% | $5.10B 88.5% | $4.99B 88.4% | $4.33B 88.1% | $3.73B 89.5% | $4.16B 97.4% |
| Cost of Services | — | — | — | — | — | — | — | — | $3.83B 91.8% | $4.16B 97.4% |
| Gross Profit | $1.15B 14.8% | $1.10B 14.3% | $977.0M 14.0% | $828.0M 12.6% | $806.0M 11.0% | $666.0M 11.5% | $653.0M 11.6% | $584.0M 11.9% | $439.0M 10.5% | $112.0M 2.6% |
| Selling, General & Admin | $578.0M 7.4% | $543.0M 7.0% | $487.0M 7.0% | $420.0M 6.4% | $393.0M 5.4% | $335.0M 5.8% | $341.0M 6.0% | $294.0M 6.0% | $244.0M 5.8% | $133.0M 3.1% |
| Operating Income | $778.0M 10.0% | $659.0M 8.5% | $449.0M 6.5% | $343.0M 5.2% | $231.0M 3.1% | $57.0M 1.0% | $362.0M 6.4% | $468.0M 9.5% | $264.0M 6.3% | $19.0M 0.4% |
| Interest Expense | $158.0M 2.0% | $144.0M 1.9% | $115.0M 1.7% | $87.0M 1.3% | $80.0M 1.1% | $72.0M 1.2% | $99.0M 1.8% | $66.0M 1.3% | $21.0M 0.5% | $13.0M 0.3% |
| Other Income (Expense), net | -$6.0M -0.1% | -$7.0M -0.1% | -$5.0M -0.1% | $12.0M 0.2% | -$9.0M -0.1% | $1.0M 0.0% | $5.0M 0.1% | -$6.0M -0.1% | $4.0M 0.1% | $18.0M 0.4% |
| Pretax Income | $614.0M 7.9% | $508.0M 6.6% | -$165.0M -2.4% | $284.0M 4.3% | $146.0M 2.0% | -$14.0M -0.2% | $268.0M 4.8% | $396.0M 8.1% | $247.0M 5.9% | $24.0M 0.6% |
| Income Tax Expense | $156.0M 2.0% | $129.0M 1.7% | $95.0M 1.4% | $92.0M 1.4% | $111.0M 1.5% | $28.0M 0.5% | $59.0M 1.0% | $86.0M 1.8% | -$193.0M -4.6% | $84.0M 2.0% |
| Net Income | $415.0M 5.3% | $375.0M 4.9% | -$265.0M -3.8% | $190.0M 2.9% | $27.0M 0.4% | -$63.0M -1.1% | $202.0M 3.6% | $281.0M 5.7% | $432.0M 10.4% | -$70.0M -1.6% |
| Per Share | ||||||||||
| EPS (Basic) | $3.21 | $2.79 | -$1.96 | $1.36 | $0.19 | -$0.44 | $1.42 | $1.99 | $3.05 | -$0.49 |
| EPS (Diluted) | $3.21 | $2.79 | -$1.96 | $1.26 | $0.19 | -$0.44 | $1.41 | $1.99 | $3.05 | -$0.49 |
| Weighted Avg Shares (Basic) | 129.0M | 134.0M | 135.0M | 139.0M | 140.0M | 142.0M | 141.0M | 140.0M | 141.0M | 142.0M |
| Weighted Avg Shares (Diluted) | 129.0M | 134.0M | 135.0M | 156.0M | 141.0M | 142.0M | 142.0M | 141.0M | 141.0M | 142.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 46th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 28% against ROIC 10% — 17% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 18.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 88.1 | 88.4 | 88.5 | 89.0 | 87.4 | 86.0 | 85.7 | 85.2 |
| Gross Profit | 11.9 | 11.6 | 11.5 | 11.0 | 12.6 | 14.0 | 14.3 | 14.8 |
| SG&A | 6.0 | 6.0 | 5.8 | 5.4 | 6.4 | 7.0 | 7.0 | 7.4 |
| Operating Income | 9.5 | 6.4 | 1.0 | 3.1 | 5.2 | 6.5 | 8.5 | 10.0 |
| Income Tax | 1.8 | 1.0 | 0.5 | 1.5 | 1.4 | 1.4 | 1.7 | 2.0 |
| Net Income | 5.7 | 3.6 | -1.1 | 0.4 | 2.9 | -3.8 | 4.9 | 5.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on KBR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 6.14pts above its cost of capital, positive in 4 of the last 5 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 9.8% | 7.6% (today's — no rate published for this year) | 2.2pts |
| FY2020 | 1.3% | 7.6% (today's — no rate published for this year) | -6.2pts |
| FY2021 | 4.7% | 7.6% | -2.9pts |
| FY2022 | 7.4% | 7.2% | 0.1pts |
| FY2023 | 9.8% | 7.0% | 2.9pts |
| FY2025 | 11.5% | 7.2% | 4.3pts |
| FY2026 | 13.9% | 7.2% | 6.7pts |
| Now | 10.1% | 7.6% | 2.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 2.6% | 0.4% | -1.6% |
| FY2017 | 10.5% | 6.3% | 10.4% |
| FY2018 | 11.9% | 9.5% | 5.7% |
| FY2019 | 11.6% | 6.4% | 3.6% |
| FY2020 | 11.5% | 1.0% | -1.1% |
| FY2021 | 11.0% | 3.1% | 0.4% |
| FY2022 | 12.6% | 5.2% | 2.9% |
| FY2023 | 14.0% | 6.5% | -3.8% |
| FY2025 | 14.3% | 8.5% | 4.9% |
| FY2026 | 14.8% | 10.0% | 5.3% |
Leverage and buybacks account for 17 points of the 28% return on equity in FY2026. The business earns 10% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$2.7B of goodwill — 65% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer. With goodwill over half the base, the ex-goodwill figure divides by a small remainder and moves sharply — read it as a direction, not a precise rate.
ROIC ex-goodwill is 39.24% against 13.71% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 3.29x of reported profit into free cash flow over 4 years, with accruals negative.
Capex has been below depreciation for 7 consecutive years (0.58x on average over the last 5). Spending less than the asset base is consuming flatters free cash flow now and defers the cost — though depreciation also covers amortisation of acquired intangibles, which capex is not meant to replace.
Missing from our data, so excluded from this answer: share_based_compensation.
Covers interest 3.4x under stress — adequate, without much room.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 4.92x |
| 5% | 4.68x |
| 10% | 4.43x |
| 15% | 4.19x |
| 20% | 3.94x |
| 25% | 3.69x |
| 30% | 3.45x |
| 35% | 3.20x |
| 40% | 2.95x |
| 45% | 2.71x |
| 50% | 2.46x |
| 55% | 2.22x |
| 60% | 1.97x |
This schedule comes from a filing dated 2016-12-31, 3590 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2016-12-31 (10-K); cash from the 2016-12-31 balance sheet; FCF from FY2016.
Balance sheet at 2016-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Coverage is comfortable at 4.9x today but falls to 3.4x after a 30% EBITDA decline — the cushion is earnings, not liquidity.
At $38.32, free cash flow must compound 3.15%/yr for 10 years. It has done 11.68%/yr over 5 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 47.0% | 3.2% |
| FY2021 | −28.5% | 3.2% |
| FY2022 | 31.0% | 3.2% |
| FY2023 | −17.2% | 3.2% |
| FY2025 | 52.4% | 3.2% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2020, so part of it measures the restatement rather than the business.
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 2.3% | not reported | not reported |
| FY2021 | 27.3% | not reported | not reported |
| FY2022 | -10.6% | not reported | not reported |
| FY2023 | 6.0% | not reported | not reported |
| FY2025 | 10.8% | not reported | not reported |
| FY2026 | 1.0% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -1.0 percent |
| FY2020 | -7.5 percent |
| FY2021 | -4.0 percent |
| FY2022 | -3.7 percent |
| FY2023 | -10.7 percent |
| FY2025 | -1.3 percent |
| FY2026 | not reported |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 7 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-15 | Vigeveno Huibert Hans Director | Grant | 33 | $36.44 | $1k |
| 2026-10-15 | Dugle Lynn A Director | Grant | 51 | $36.44 | $2k |
| 2026-10-15 | Dominguez Joseph Director | Grant | 33 | $36.44 | $1k |
| 2026-08-04 | Taylor Jennefer Thai VP, Chief Accounting Officer | Tax withholding |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 58 |
| $37.83 |
| $2k |
| 2026-07-15 | Dugle Lynn A Director | Grant | 51 | $35.98 | $2k |
| 2026-07-15 | Dominguez Joseph Director | Grant | 34 | $35.98 | $1k |
| 2026-07-15 | Vigeveno Huibert Hans Director | Grant | 34 | $35.98 | $1k |
| 2026-05-20 | Moore Jack B Director | Plan purchase | 4,000 | $31.44 | $126k |
| 2026-05-19 | Sabater Carlos A. Director | Open-market buy | 14,500 | $32.47 | $471k |
| 2026-05-14 | Von Thaer Lewis Director | Open-market buy | 3,000 | $30.77 | $92k |
| 2026-05-13 | Evans Shad E. EVP & Chief Financial Officer | Open-market buy | 8,375 | $30.60 | $256k |
| 2026-05-08 | Kavanaugh Mark President | Tax withholding | 81 | $32.54 | $3k |
| 2026-05-08 | Hill Douglas S Pres., Readiness & Sustainment | Tax withholding | 63 | $32.54 | $2k |
| 2026-04-15 | Vigeveno Huibert Hans Director | Grant | 33 | $36.70 | $1k |
| 2026-04-15 | Dugle Lynn A Director | Grant | 105 | $36.70 | $4k |
| 2026-04-15 | Dominguez Joseph Director | Grant | 33 | $36.70 | $1k |
| 2026-03-02 | Evans Shad E. EVP & Chief Financial Officer | Grant | 8,024 | $0.00 | $0 |
| 2026-03-02 | Conlon Gregory Sean Chief Digital & Development | Grant | 5,135 | $0.00 | $0 |
| 2026-03-02 | Ibrahim Jalal Pres., Sustainable Tech Solns | Grant | 8,665 | $0.00 | $0 |
| 2026-03-02 | Myles Jennifer EVP, Chief People Officer | Grant | 6,098 | $0.00 | $0 |
| 2026-03-02 | Hill Douglas S Pres., Readiness & Sustainment | Grant | 3,852 | $0.00 | $0 |
| 2026-03-02 | Masiello Wendy Motlong Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Sabater Carlos A. Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Etta Nchacha Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Dugle Lynn A Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Manzoni John Alexander Kcb Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Pickard Ann Darlene Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Von Thaer Lewis Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Vigeveno Huibert Hans Director | Grant | 7,221 | $0.00 | $0 |
| 2026-03-02 | Moore Jack B Director | Grant | 4,212 | $0.00 | $0 |
| 2026-03-02 | Dominguez Joseph Director | Grant | 7,221 | $0.00 | $0 |
| 2026-03-02 | Sopp Mark W EVP, Strategic Transactions | Grant | 11,874 | $0.00 | $0 |
| 2026-03-02 | Taylor Jennefer Thai VP, Chief Accounting Officer | Grant | 1,284 | $0.00 | $0 |
| 2026-03-02 | Galindo Sonia EVP, Gen. Counsel & Corp. Sec. | Grant | 7,381 | $0.00 | $0 |
| 2026-03-02 | Kavanaugh Mark Pres., Defense, Intel & Space | Grant | 3,852 | $0.00 | $0 |
| 2026-03-02 | Bradie Stuart President and CEO | Grant | 54,553 | $0.00 | $0 |
| 2026-02-27 | Ibrahim Jalal Pres., Sustainable Tech Solns | Tax withholding | 1,223 | $42.23 | $52k |
| 2026-02-27 | Evans Shad E. EVP & Chief Financial Officer | Tax withholding | 314 | $42.23 | $13k |
| 2026-02-27 | Galindo Sonia EVP, Gen. Counsel & Corp. Sec. | Tax withholding | 877 | $42.23 | $37k |
| 2026-02-27 | Hill Douglas S Pres., Readiness & Sustainment | Tax withholding | 223 | $42.23 | $9k |