AECOM

ACM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$74.00	Mghd	Mqgvqjv

Aecom Earnings: Organic Net Service Revenue Growth and Margins Trending Above Long-Term Targets

Krzysztof Smalec

Aug 8, 2023

Aecom grew its fiscal third-quarter adjusted EPS by 12% year over year on a constant currency basis. While nothing in Aecom’s earnings release materially alters our long-term outlook for the firm, we’ve increased our fair value estimate to $85 from $84, mostly due to time value of money. We view the name as fairly valued at current levels.

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