Jacobs Solutions Inc. (J) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-40.6%

$94.60

vs $159.24 price

Levered DCF

$75.28

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.91

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	61.87×	20.26×	21.22×	17.91×	35.36×	26.88×	12.2×	48.68×
P/B	4.88×	3.54×	2.18×	1.91×	2.44×	1.76×	1.81×	1.48×
P/S	1.48×	1.4×	1.32×	1.18×	1.03×	0.76×	0.81×	0.58×
EV / EBITDA	20.75×	14.13×	17.05×	16.58×	16.99×	17.47×	18.4×	16.85×
Gross margin	24.8%	24.6%	25.0%	26.4%	21.6%	19.1%	19.4%	18.9%
Operating margin	7.2%	6.0%	6.2%	5.5%	4.9%	4.0%	3.2%	4.3%
Net margin	2.4%	7.0%	6.1%	6.6%	3.4%	3.6%	6.7%	1.2%
Current ratio	1.3×	1.2×	1.37×	1.45×	1.34×	1.54×	1.34×	1.45×
Debt / equity	0.74×	0.6×	0.53×	0.69×	0.64×	0.44×	0.25×	0.37×
Interest coverage	5.92×	4.1×	4.02×	5.39×	9.46×	8.62×	4.83×	8.44×
Dividend yield	0.9%	0.9%	0.9%	1.0%	0.8%	1.0%	0.9%	0.9%
Payout ratio	52.7%	17.7%	19.3%	18.0%	23.4%	19.9%	10.7%	45.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.0%	17.7%	10.2%	10.6%	8.0%	8.5%	14.8%	3.0%
Return on invested capital	6.5%	6.6%	4.8%	4.0%	3.6%	4.9%	4.2%	2.3%
Return on assets	2.6%	6.9%	4.6%	4.4%	3.3%	4.0%	7.4%	1.4%
Free cash flow yield	3.4%	5.8%	5.9%	3.0%	4.4%	6.7%	-4.9%	4.4%
Earnings yield	1.6%	5.0%	4.7%	5.6%	3.3%	4.8%	8.2%	2.1%
Enterprise value	$19.2B	$17.7B	$17B	$14.6B	$17.3B	$12B	$11.1B	$10.2B
Net debt / EBITDA	1.59×	1.28×	2.71×	3.44×	2.76×	2.5×	1.27×	2.49×
Cash conversion cycle (days)	40	47	40	78	50	50	43	38