Latest Ratios: P/E Ratio 59.3x · EV/EBITDA 16.5x · ROE 5.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.7B | — | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $18.1B | — | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | 59.29 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.39 | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 3.64 | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 27.43 | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 24.27 | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 16.47 | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 21.00 | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.8% | 24.8% | 24.6% | 25.0% | 26.4% | 21.6% | 19.1% | 19.4% | 18.9% | 17.7% | 16.1% |
| Operating Margin | 7.2% | 7.2% | 6.0% | 6.2% | 5.5% | 4.9% | 4.0% | 3.2% | 4.3% | 3.9% | 3.1% |
| Net Profit Margin | 2.4% | 2.4% | 7.0% | 6.1% | 6.6% | 3.4% | 3.6% | 6.7% | 1.2% | 2.9% | 1.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.8% | 5.8% | 12.8% | 9.5% | 9.6% | 7.6% | 8.5% | 14.5% | 3.4% | 6.7% | 4.8% |
| ROA | 2.5% | 2.5% | 6.1% | 4.5% | 4.4% | 3.5% | 4.1% | 7.0% | 1.8% | 4.0% | 2.8% |
| ROIC | 9.9% | 9.9% | 6.1% | 5.2% | 4.2% | 6.1% | 5.7% | 4.3% | 8.5% | 7.3% | 5.9% |
| ROCE | 11.1% | 11.1% | 7.3% | 6.0% | 4.7% | 6.6% | 6.0% | 4.5% | 8.7% | 7.1% | 5.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.58 | 0.58 | 0.51 | 0.48 | 0.62 | 0.58 | 0.44 | 0.24 | 0.36 | 0.05 | 0.09 |
| Debt / EBITDA | 2.46 | 2.46 | 2.75 | 3.52 | 4.95 | 4.07 | 3.59 | 2.44 | 2.54 | 0.46 | 0.83 |
| Net Debt / Equity | — | 0.32 | 0.30 | 0.37 | 0.45 | 0.42 | 0.29 | 0.13 | 0.25 | -0.12 | -0.06 |
| Net Debt / EBITDA | 1.34 | 1.34 | 1.61 | 2.74 | 3.60 | 2.99 | 2.39 | 1.34 | 1.79 | -1.04 | -0.57 |
| Debt / FCF | — | 2.43 | 1.72 | 3.22 | 8.71 | 4.44 | 2.49 | — | 3.92 | -1.17 | -0.44 |
| Interest Coverage | 4.73 | 4.73 | 5.60 | 4.10 | 5.77 | 10.57 | 8.09 | 5.19 | 5.31 | 21.20 | 19.79 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.30 | 1.30 | 1.20 | 1.37 | 1.45 | 1.34 | 1.54 | 1.34 | 1.45 | 1.56 | 1.61 |
| Quick Ratio | 1.30 | 1.30 | 1.20 | 1.37 | 1.45 | 1.34 | 1.54 | 1.34 | 1.45 | 1.56 | 1.61 |
| Cash Ratio | 0.37 | 0.37 | 0.46 | 0.23 | 0.35 | 0.32 | 0.41 | 0.35 | 0.20 | 0.40 | 0.37 |
| Asset Turnover | — | 1.07 | 0.98 | 0.74 | 0.67 | 0.96 | 1.10 | 1.11 | 1.18 | 1.36 | 1.49 |
| Inventory Turnover | — | — | — | — | — | — | — | 10778.19 | — | — | — |
| Days Sales Outstanding | — | 90.69 | 90.30 | 81.77 | 127.05 | 80.33 | 85.21 | 81.39 | 61.24 | 76.57 | 70.43 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 52.7% | 52.7% | 17.7% | 19.3% | 18.0% | 23.4% | 19.9% | 10.7% | 45.9% | 18.5% | 2.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 3.6% | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 4.5% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 5.4% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $120M | $126M | $127M | $129M | $131M | $133M | $138M | $139M | $120M | $121M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying J stock.
Jacobs Solutions Inc.'s current P/E ratio is 59.3x. This places it at the 50th percentile of its historical range.
Jacobs Solutions Inc.'s current EV/EBITDA is 16.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Jacobs Solutions Inc.'s return on equity (ROE) is 5.8%. The historical average is 11.9%.
Based on historical data, Jacobs Solutions Inc. is trading at a P/E of 59.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Jacobs Solutions Inc.'s current dividend yield is 0.90% with a payout ratio of 52.7%.
Jacobs Solutions Inc. has 24.8% gross margin and 7.2% operating margin.
Jacobs Solutions Inc.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Margin compression despite revenue surge
Metrics are mathematically derived from official filings.
Margin Compression Masks Underlying Stability
Gross margin fell to 19.9% in Q3 FY2026 from 25.0% a year earlier, while operating margin held near 7%, suggesting the revenue surge may be lower-quality pass-through work, per latest filings.
The 510 basis point gross margin decline in Q3 FY2026, as reported in the quarterly data, appears to stem from a higher mix of pass-through costs in the Infrastructure & Advanced Facilities segment, which inflate revenue but carry minimal margin. Operating margin of 7.0% remains within the 6.4%-8.4% range of the past year, indicating that core fee-based profitability is stable despite top-line volatility. Net margin of 3.3% in Q3 FY2026 is below the 5.1% seen in Q3 FY2025, but the prior year's figure was boosted by one-time gains, so investors should focus on operating margin as the cleaner measure of earning power.
Return on Capital Compressed by Spin-Off
ROIC fell to 3.4% in Q3 FY2026 from 2.9% a year earlier, but the post-spin capital base is distorted; adjusted for the CMS divestiture, returns appear stable, per reported figures.
The 3.4% ROIC in Q3 FY2026 is artificially depressed by the equity reduction from the CMS spin-off, which lowered the denominator, yet the numerator (NOPAT) has not yet reflected the full benefit of the leaner portfolio. Over the past year, ROIC has ranged from -1.0% to 3.4%, with the negative quarter in Q2 FY2026 driven by restructuring charges. As the company integrates the spin-off and benefits from higher-margin Divergent Solutions, ROIC may improve, but the current level remains below the cost of capital, suggesting value creation is not yet evident.
Working Capital Efficiency Deteriorates
DSO rose to 82 days in Q3 FY2026 from 89 days a year earlier, while DPO improved to 45 days, but the cash conversion cycle remains unavailable, per quarterly data.
The 7-day improvement in DSO suggests better collections, but the lack of DIO data prevents a full CCC calculation, and the working capital swings seen in the cash flow statement (ranging from -$501M to +$232M) indicate project billing cycles dominate. The asset turnover of 0.34x in Q3 FY2026 is up from 0.19x in Q4 FY2024, reflecting the revenue surge, but this is partly due to pass-through revenue inflating the numerator. Investors should monitor whether the efficiency gains are sustainable or merely a function of the I&AF segment's lower-margin, higher-volume work.
Leverage Spike Post-Spin-Off
Debt-to-equity surged to 1.25 in Q3 FY2026 from 0.51 a year earlier, with D/EBITDA at 11.79x, though interest coverage of 5.41x remains adequate, per latest balance sheet.
The doubling of D/E reflects the $4.1B debt taken on to fund the CMS spin-off, and the D/EBITDA of 11.79x is elevated relative to the 9.54x seen in Q3 FY2025, indicating a higher leverage burden. Interest coverage of 5.41x, while down from 7.62x a year ago, still provides a comfortable cushion, but the company's ability to deleverage will depend on cash flow generation. The spin-off removed steady government O&M revenue, so the higher leverage is now backed by more cyclical commercial and infrastructure projects, which may increase refinancing risk if cash flows weaken.
Liquidity Buffer Holds Steady
Current ratio improved to 1.29 in Q3 FY2026 from 1.20 a year earlier, with cash of $1.2B, but the quick ratio of 1.29 suggests minimal inventory dependence, per reported data.
The current ratio of 1.29 is consistent with the past year's range of 1.14-1.50, indicating a stable liquidity position despite the spin-off. The quick ratio equals the current ratio, reflecting the asset-light nature of the business with negligible inventory. However, the $1.2B cash balance is modest relative to the $4.1B debt, and the negative FCF in Q2 FY2026 (-$505M) highlights the potential for cash flow volatility. Under a severe stress scenario, the liquidity buffer may be adequate but not robust, especially if the I&AF segment's growth slows.
Misapplied P/E on Distorted Earnings
The trailing P/E of 61.9x is misleading due to spin-off-related charges and one-time gains; forward P/E of 20.3x better reflects normalized earnings, per current valuation data.
The trailing P/E is distorted by the CMS spin-off, which created a one-time loss in Q2 FY2026 and a gain in Q4 FY2024, making the TTM EPS unreliable. The forward P/E of 20.3x is more meaningful, but it still embeds assumptions about margin recovery and the success of the Divergent Solutions strategy. Investors should use EV/EBITDA (17.1x) or P/FCF (28.6x) as cross-checks, but the most appropriate metric is forward EV/EBITDA, which at 22.5x appears rich relative to peers like AECOM (9.3x) and Tetra Tech (14.9x), suggesting the market is pricing in significant growth. The common mistake is to apply a cyclical construction multiple to Jacobs, ignoring its structural exposure to high-tech onshoring, which may justify a premium but also carries execution risk.