KBR, Inc. (KBR) 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

+520.6%

$247.71

vs $39.92 price

Levered DCF

$160.99

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.41

Grey zone

Rating

Overall 4 / 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	12.62×	21.15×	-28.27×	38.82×	250.63×	-85.92×	21.33×	7.55×
P/B	3.48×	5.44×	5.41×	4.53×	3.99×	2.78×	2.34×	1.25×
P/S	0.67×	1.02×	1.08×	1.12×	0.91×	0.76×	0.76×	0.43×
EV / EBITDA	8.34×	12.99×	104.05×	17.79×	22.94×	34.34×	11.27×	5.67×
Gross margin	14.8%	14.2%	14.0%	12.6%	11.0%	11.5%	11.6%	11.9%
Operating margin	7.3%	8.6%	6.4%	5.2%	3.1%	1.0%	6.4%	9.5%
Net margin	5.3%	4.8%	-3.8%	2.9%	0.4%	-1.2%	3.6%	5.7%
Current ratio	1.22×	1.05×	1.05×	0.96×	1.15×	1.12×	1.34×	1.38×
Debt / equity	2.08×	1.96×	1.49×	1.22×	1.27×	1.16×	0.79×	0.75×
Interest coverage	3.59×	4.6×	3.9×	3.94×	2.89×	0.69×	3.66×	7.09×
Dividend yield	1.6%	1.0%	1.0%	0.9%	0.9%	1.2%	1.1%	2.1%
Payout ratio	20.2%	21.1%	-27.2%	34.7%	225.9%	-75.0%	22.8%	15.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	27.6%	25.8%	-19.2%	11.7%	1.6%	-4.6%	11.0%	16.5%
Return on invested capital	8.5%	9.9%	11.0%	5.6%	1.3%	1.3%	7.2%	9.9%
Return on assets	6.3%	5.6%	-4.8%	3.4%	0.4%	-1.3%	3.8%	5.5%
Free cash flow yield	9.2%	4.9%	3.4%	4.4%	3.7%	7.9%	5.5%	7.0%
Earnings yield	7.9%	4.7%	-3.5%	2.6%	0.4%	-1.6%	4.7%	13.2%
Enterprise value	$7.8B	$10.5B	$9.4B	$9B	$8.5B	$5.9B	$5.3B	$3B
Net debt / EBITDA	2.79×	3.24×	20.93×	3.34×	5.02×	8.95×	2.14×	1.63×
Cash conversion cycle (days)	27	22	26	27	24	27	32	36