Jacobs Solutions (J) FY2025 10-K Annual Report
Jacobs Solutions (J) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 20, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Jacobs Solutions FY2025 10-K Analysis
Business Overview
- • Core business model: Engineering and consulting services with integrated solutions across infrastructure, environment, and advanced technology sectors
- • Strategic shift: Completed merger with Amentum in November 2023, impacting continued operations and discontinued segments reporting
- • Notable quantitative metric: Revenues $12.03B in FY 2025, up 4.6% YoY; net earnings from continuing operations $313M vs $613M prior year reflecting merger impacts
- • Most unusual fact: Discontinued operations loss $24M in FY 2025 vs earnings $193M prior, linked to post-merger restructuring and asset divestitures
Management Discussion & Analysis
- • Revenue $12.03B, up 4.6% YoY from $11.50B, driven by Infrastructure & Advanced Facilities (I&AF) and PA Consulting growth
- • Operating profit $864M, margin 7.2% vs 6.0% in prior year; I&AF segment best performer with $904M operating profit (+13.2%) on $10.76B revenue
- • PA Consulting segment revenue $1.27B (+7.5%) with $279M operating profit (+16.4%); worst performance impact from discontinued operations $(24M) net loss
- • Net earnings from continuing operations $313M, down 48.9% YoY due to $227M mark-to-market losses on Amentum stock and $21M debt extinguishment cost
- • Cash flow/capital allocation details limited; reduced net interest expense by $24.6M due to debt repayments; restructuring charges $28.2M in FY2025 with expected $165-200M annual cash savings
- • Backlog $23.1B, up $1.2B; management positive outlook but notes risk from joint venture ruling and investment volatility in Amentum stock impacting earnings
Risk Factors
- • Federal government backlog $2.2B or 9.5% of total at FY2025 with annual Congressional appropriations risk
- • $998M cash held outside U.S. across UK, Eurozone, Australia, India, Canada, Middle East with repatriation tax cost exposure
- • PA Consulting equity-based incentive grants with $142.1M unrecognized compensation cost tied to 2026 liquidity event
- • $2.25B revolving credit facility and $1.24B cash provide liquidity, but FY2025 net cash from operations down $368M YoY
- • Long-term debt increased $888M due to new $750M term loan and $255M draw on revolver funding share buybacks and dividends
Jacobs Solutions FY2025 Key Financial MetricsXBRL
Revenue
$12.0B
▲ +4.6% YoY
Net Income
$289M
▼ -64.1% YoY
Gross Margin
24.8%
▲ +18bp YoY
Operating Margin
7.2%
▲ +116bp YoY
Net Margin
2.4%
▼ -460bp YoY
ROE
7.9%
▼ -977bp YoY
Total Assets
$11.3B
▼ -4.3% YoY
EPS (Diluted)
$2.38
▼ -62.3% YoY
Operating Cash Flow
$687M
▼ -34.9% YoY
Source: XBRL data from Jacobs Solutions FY2025 10-K filing on SEC EDGAR. All figures in USD.
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