AECOM

ACM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$99.00	Tqt	Mgpglglz

We Expect Aecom to Capitalize on Growing Infrastructure Spending

Krzysztof Smalec

Aug 6, 2024

Business Strategy and Outlook

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

United States