Upside case
Bull case
$496+291.4%
J would need investors to value it at roughly 70x earnings — about 52x more generous than today's 18x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Jacobs Solutions Inc. (J) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
38
analysts
24 bullish · 0 bearish · 38 covering J
Strong Buy
0
Buy
24
Hold
14
Sell
0
Strong Sell
0
Consensus Target
$155
+22.3% vs today
Scenario Range
$132 – $496
Model bear to bull value window
Coverage
38
Published analyst ratings
Valuation Context
17.8x
Forward P/E · Market cap $14.9B
J price targets
Three scenarios for where J stock could go
Current
~$127
Confidence
56 / 100
Updated
May 1, 2026
Where we are now
Current · $127
Bear
$132
Base
$279
Bull
$496
Market caseClosest to today
Base case
$279+120.5%
At 39x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$132+4.4%
The bear case assumes sentiment or fundamentals disappoint enough to push J down roughly 4% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Jacobs Solutions Inc.
J · NYSETechnologySoftware - ServicesSeptember year-end
Jacobs Solutions is a global professional services firm that provides engineering, design, and consulting services for infrastructure, facilities, and government projects. It generates revenue primarily through project-based consulting fees — with major segments including critical mission solutions (government/defense), people & places solutions (infrastructure), and PA consulting (digital/tech advisory). The company's competitive advantage lies in its deep technical expertise, long-term government contracts, and global scale that creates barriers to entry for smaller competitors.
Market Cap
$14.9B
Revenue TTM
$13.2B
Net Income TTM
$254M
Net Margin
1.9%
J Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
67%Exceptional
12 quarters tracked
Revenue Beat Rate
42%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.7%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$1.62/$1.53
Revenue
$3.0B/$3.1B
Q4 2025
EPS
$1.75/$1.68
Revenue
$3.2B/$3.1B
Q1 2026
EPS
$1.53/$1.52
Revenue
$2.3B/$3.1B
Q2 2026
EPS
$1.75/$1.64
Revenue
$2.3B/$2.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.62/$1.53 | +5.9% | $3.0B/$3.1B | -1.3% |
| Q4 2025 | $1.75/$1.68 | +4.2% | $3.2B/$3.1B | +0.3% |
| Q1 2026 | $1.53/$1.52 | +0.7% | $2.3B/$3.1B | -27.1% |
| Q2 2026 | $1.75/$1.64 | +6.7% | $2.3B/$2.3B | +2.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$12.4B
-5.8% YoY
FY2
$13.2B
+6.5% YoY
EPS Outlook
FY1
$4.47
— YoY
FY2
$5.25
+17.5% YoY
Trailing FCF (TTM)$484M
FCF Margin: 3.7%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
J beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
J Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $12.0B
Product Mix
Latest annual revenue by segment or product family
Infrastructure & Advanced Facilities
89.5%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
61.6%
+3.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Infrastructure & Advanced Facilities is the largest disclosed segment at 89.5% of FY 2025 revenue, with no year-over-year comparison yet.
UNITED STATES is the largest reported region at 61.6%, up 3.3% YoY.
J Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Undervalued
Fair value est. $160 — implies +24.4% from today's price.
Upside to Fair Value
24.4%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
J
53.2x
vs
S&P 500
25.2x
+111% premium
vs Technology Trailing P/E
J
53.2x
vs
Technology
27.5x
+94% premium
vs J 5Y Avg P/E
Today
53.2x
vs
5Y Average
—
Benchmark unavailable
Forward PE
17.8x
S&P 500
19.1x
-7%
Technology
21.7x
-18%
5Y Avg
—
—
Trailing PE
53.2x
S&P 500
25.2x
+111%
Technology
27.5x
+94%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
14.8x
S&P 500
15.3x
-3%
Technology
17.4x
-15%
5Y Avg
—
—
Price/FCF
24.5x
S&P 500
21.3x
+15%
Technology
19.8x
+24%
5Y Avg
—
—
Price/Sales
1.2x
S&P 500
3.1x
-61%
Technology
2.4x
-49%
5Y Avg
—
—
Dividend Yield
1.01%
S&P 500
1.88%
-46%
Technology
1.18%
-15%
5Y Avg
—
—
| Metric | J | S&P 500 | Technology | 5Y Avg J |
|---|---|---|---|---|
| Forward PE | 17.8x | 19.1x | 21.7x-18% | — |
| Trailing PE | 53.2x | 25.2x+111% | 27.5x+94% | — |
| PEG Ratio | — | 1.75x | 1.47x | — |
| EV/EBITDA | 14.8x | 15.3x | 17.4x-15% | — |
| Price/FCF | 24.5x | 21.3x+15% | 19.8x+24% | — |
| Price/Sales | 1.2x | 3.1x-61% | 2.4x-49% | — |
| Dividend Yield | 1.01% | 1.88% | 1.18% | — |
J trades above S&P 500 benchmarks on 2 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolJ Financial Health
Verdict
Adequate
J returns 6.1% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$13.2B
Revenue Growth
TTM vs prior year
+74.1%
Gross Margin
Gross profit as a share of revenue
23.4%
Operating Margin
Operating income divided by revenue
4.7%
Net Margin
Net income divided by revenue
1.9%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.14
Free Cash Flow (TTM)
Cash generation after capex
$484M
FCF Margin
FCF as share of revenue — the primary cash quality signal
3.7%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
9.9%
ROA
Return on assets, trailing twelve months
2.2%
Cash & Equivalents
Liquid assets on the balance sheet
$1.2B
Net Debt
Total debt minus cash
$1.5B
Debt Serviceability
Net debt as a multiple of annual free cash flow
3.0× FCF
~3.0 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
5.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
6.1%
Dividend
1.0%
Buyback
5.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$754M
Dividend / Share
Annualized trailing dividend per share
$1.27
Payout Ratio
Share of earnings distributed as dividends
52.7%
Shares Outstanding
Declining as buybacks retire shares
117M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageJ Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Economic sensitivity
A potential global recession could significantly impact Jacobs Solutions' clients' ability to fund large projects, leading to potential delays or cancellations. This economic sensitivity poses a high risk to the company's revenue generation and overall financial stability.
High Risk
Interest rate risk
Jacobs Solutions' variable rate indebtedness exposes it to interest rate risk, which could increase debt service obligations. Rising interest rates could negatively affect net income and cash flows, impacting profitability.
Medium
Competition
The company faces intense competition in the sectors it operates, which could pressure profit margins and market share. Increased competition may lead to pricing pressures and reduced profitability.
Medium
Project management complexity
Managing large-scale projects involves significant complexity, which can lead to operational inefficiencies and increased costs. Failure to effectively manage these projects could adversely affect financial performance.
Medium
Minority investment risks
Jacobs Solutions has risks associated with its minority investments, where a lack of control over business operations can lead to financial, legal, operational, and compliance risks. Decisions made by these companies may not align with Jacobs' interests, potentially resulting in losses or reputational harm.
Lower
Infrastructure spending challenges
Challenges related to infrastructure spending could impact Jacobs Solutions' profitability. Weaker margins in this area may affect overall financial performance, although the company operates in relatively recession-resilient sectors.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why J Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Robust Financials and Growth
Jacobs Solutions demonstrated strong revenue generation in fiscal year 2024, reaching $11.5 billion. The company has shown a year-over-year revenue increase of 12.3%, with earnings projected to grow by 18% per year.
Strategic Focus and Diversification
The company operates through two synergistic segments: Infrastructure & Advanced Facilities and PA Consulting. This diversified approach, coupled with a significant portion of contracts being cost-reimbursable (69%), provides strong earnings visibility and reduced risk.
Operational Strengths
Jacobs Solutions exhibits strong operational capabilities, with continued margin improvement and positive performance across critical segments like Life Sciences & Advanced Manufacturing. The company also utilizes proprietary tools like Simetrica-Jacobs for ESG impact quantification and Jacobs AI for streamlining operations.
Shareholder Returns
Jacobs Solutions has increased its quarterly dividend, signaling a commitment to returning value to shareholders. While the company currently reinvests profits for growth rather than paying dividends, potential profit can be earned through share price increases.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
J Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$126.62
52W Range Position
21%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$119.22
+6.2% from the low
52-Week High
$154.72
-18.2% from the high
1 Month
-1.11%
3 Month
-14.91%
YTD
-6.4%
1 Year
-15.9%
3Y CAGR
-5.6%
5Y CAGR
-3.4%
10Y CAGR
-1.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
J vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
17.8x
vs 20.3x median
-12% below peer median
Revenue Growth
-5.8%
vs +9.3% median
-162% below peer median
Net Margin
1.9%
vs 3.7% median
-48% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
J J Jacobs Solutions Inc. | $14.9B | 17.8x | -5.8% | 1.9% | Buy | +22.3% |
ACM ACM Aecom | $11.1B | 14.2x | -7.7% | 2.9% | Buy | +49.7% |
KBR KBR KBR, Inc. | $4.5B | 9.2x | +3.0% | 5.2% | Buy | +47.2% |
TTE TTEK Tetra Tech, Inc. | $8.1B | 20.3x | +9.3% | 9.0% | Hold | +33.8% |
PWR PWR Quanta Services, Inc. | $117.8B | 60.0x | +14.9% | 3.7% | Buy | -17.6% |
MTZ MTZ MasTec, Inc. | $34.2B | 51.1x | +14.3% | 3.0% | Buy | -23.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
J Dividend and Capital Return
J returns capital mainly through $754M/year in buybacks (5.1% buyback yield), with a modest 1.01% dividend — combining for 6.1% total shareholder yield. The dividend has grown for 10 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
6.1%
Dividend + buyback return per year
Buyback Yield
5.1%
Dividend Yield
1.01%
Payout Ratio
52.7%
How J Splits Its Return
Div 1.01%
Buyback 5.1%
Dividend 1.01%Buybacks 5.1%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.27
Growth Streak
Consecutive years of dividend increases
10Y
3Y Div CAGR
11.6%
5Y Div CAGR
12.9%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$754M
Estimated Shares Retired
6M
Approx. Share Reduction
5.1%
Shares Outstanding
Current diluted share count from the screening snapshot
117M
At 5.1%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw |
|---|---|---|
| 2026 | $0.36 | — |
| 2025 | $1.28 | +20.5% |
| 2024 | $1.06 | +6.5% |
| 2023 | $1.00 | +8.4% |
| 2022 | $0.92 | +19.3% |
FAQ
7 questionsJ Investor Questions
Common questions answered from live analyst data and company financials.
01Is Jacobs Solutions Inc. (J) stock a buy or sell in 2026?
Jacobs Solutions Inc. (J) is rated Buy by Wall Street analysts as of 2026. Of 38 analysts covering the stock, 24 rate it Buy or Strong Buy, 14 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $155, implying +22.3% from the current price of $127. The bear case scenario is $132 and the bull case is $496.
02What is the J stock price target for 2026?
The Wall Street consensus price target for J is $155 based on 38 analyst estimates. The high-end target is $175 (+38.2% from today), and the low-end target is $137 (+8.2%). The base case model target is $279.
03Is Jacobs Solutions Inc. (J) stock overvalued in 2026?
J trades at 17.8x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Jacobs Solutions Inc. (J) stock in 2026?
The primary risks for J in 2026 are: (1) Economic sensitivity — A potential global recession could significantly impact Jacobs Solutions' clients' ability to fund large projects, leading to potential delays or cancellations. (2) Interest rate risk — Jacobs Solutions' variable rate indebtedness exposes it to interest rate risk, which could increase debt service obligations. (3) Competition — The company faces intense competition in the sectors it operates, which could pressure profit margins and market share. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Jacobs Solutions Inc.'s revenue and earnings forecast?
Analyst consensus estimates J will report consensus revenue of $12.4B (-5.8% year-over-year) and EPS of $4.47 for the upcoming fiscal year. The following year, analysts project $13.2B in revenue.
06When does Jacobs Solutions Inc. (J) report its next earnings?
A confirmed upcoming earnings date for J is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Jacobs Solutions Inc. generate?
Jacobs Solutions Inc. (J) generated $484M in free cash flow over the trailing twelve months — a free cash flow margin of 3.7%. J returns capital to shareholders through dividends (1.0% yield) and share repurchases ($754M TTM).