Company file · J
Jacobs Solutions
Jacobs Solutions' revenue rose 4.6% in FY2025, to $12.0B, and net income fell 64.1% to $289M
Revenue rose 4.6% to $12.0B in FY2025, from $11.5B in FY2024. Net income fell 64.1% to $289M. Infrastructure & Advanced Facilities was the largest segment, at 89% of revenue.
Key facts
Jacobs Solutions (NYSE: J) closed fiscal 2025 on Sep 26, 2025 with revenue of $12.0B, up 4.6% from a year before; net income came to $289M, down 64.1%. Its newest quarterly report covers the three months to Jun 26, 2026: revenue of $4.1B, up 34.5% on the same stretch of the prior year, and net income of $137M. Broken down by segment, Infrastructure & Advanced Facilities led with 89% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Nov 20, 2025) and 10-Q for the quarter ended Jun 26, 2026 (filed Aug 4, 2026).
Source: 10-K FY2025, filed Nov 20, 2025
Source: 10-Q filed Feb 3, 2026 · 10-Q filed May 5, 2026 · 10-Q filed Aug 4, 2026
How it makes money
By segment, FY2025
- LineAmountSharevs FY2024
- Infrastructure & Advanced Facilities$10.8B89%+4.3%
- PA Consulting$1.3B11%+7.5%
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Infrastructure & Advanced Facilities (89%) and PA Consulting (11%), as shares of total revenue. Total revenue was $12.0B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 FY2026 (Apr to Jun 2026) compared with Q3 FY2025 (Apr to Jun 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 FY2026Q3 FY2025
Company
Source: Jacobs Solutions 10-Q for the quarter ended Jun 26, 2026, filed Aug 4, 2026
By segment
Source: Jacobs Solutions 10-Q for the quarter ended Jun 26, 2026, filed Aug 4, 2026
The bull case and the bear case
The bull case
- Revenue rose 4.6% in FY2025 to $12.0B, from $11.5B a year earlier. 10-K, FY2025
- Diluted shares fell 3.1% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Revenue in the quarter ended Jun 26, 2026 was $4.1B, up 34.5% on a year earlier. 10-Q, quarter ended Jun 26, 2026
- PA Consulting revenue grew 7.5% in FY2025 to $1.3B. 10-K, FY2025
The bear case
- Net income fell 64.1% in FY2025 to $289M, from $806M. 10-K, FY2025
- Operating cash flow fell 34.9% in FY2025 to $687M. 10-K, FY2025
- Net income in the quarter ended Jun 26, 2026 was $137M, down 24.0% on a year earlier. 10-Q, quarter ended Jun 26, 2026
- Canada revenue fell 5.2% in FY2025 to $248M. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Jacobs Solutions is in the construction & engineering industry, part of the industrials sector. The SEC files it under Heavy Construction Other Than Bldg Const - Contractors.
Jacobs Solutions reports 2 segments: Infrastructure & Advanced Facilities and PA Consulting.
Its latest fiscal year, FY2025, ended Sep 26, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the construction & engineering industry. They are not a summary of Jacobs Solutions’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $10.9B | $11.5B | $12.0B |
| Net income | $666M | $806M | $289M |
| Operating cash flow | $975M | $1.1B | $687M |
| Cash & equivalents (year end) | $771M | $1.1B | $1.2B |
| Total debt (year end) | $2.9B | $2.2B | $2.2B |
| Diluted shares | 127M | 126M | 122M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: The current part of long-term debt plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Debt maturities
- The auditor's report
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Aug 4, 2026 | Jun 26, 2026 |
| 10-Q | May 5, 2026 | Mar 27, 2026 |
| 10-Q | Feb 3, 2026 | Dec 26, 2025 |
| DEF 14A | Dec 18, 2025 | Jan 28, 2026 |
| 10-K | Nov 20, 2025 | Sep 26, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Jacobs Solutions
How does Jacobs Solutions make money?
Fiscal 2025 revenue: $12.0B. By segment in FY2025: Infrastructure & Advanced Facilities (89%) and PA Consulting (11%), as shares of total revenue. Total revenue was $12.0B. Source: 10-K for fiscal 2025, filed Nov 20, 2025.
What was Jacobs Solutions's revenue in fiscal 2025?
$12.0B, up 4.6% from fiscal 2024 ($11.5B). The year ended Sep 26, 2025; for fiscal 2023 the figure was $10.9B. Source: 10-K for fiscal 2025, filed Nov 20, 2025.
Is Jacobs Solutions profitable?
Net income was $289M in fiscal 2025 (down 64.1%; fiscal 2024 was $806M). That counts as a GAAP profit. The latest quarter, ended Jun 26, 2026: net income was $137M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Nov 20, 2025.
What did Jacobs Solutions report in its latest quarterly filing?
For the three months to Jun 26, 2026: revenue $4.1B (up 34.5% from $3.0B) and net income $137M (down 24.0% from $180M). Source: 10-Q for the quarter ended Jun 26, 2026, filed Aug 4, 2026.
How much cash and debt does Jacobs Solutions have?
As of Jun 26, 2026: $1.2B of cash and cash equivalents, $3.6B of total debt. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Aug 4, 2026.
What are the main risks Jacobs Solutions faces?
Jacobs Solutions's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Nov 20, 2025. Risks that are common among companies in the construction & engineering industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Jacobs Solutions numbers come from?
The 10-K filed Nov 20, 2025 (fiscal 2025) and the 10-Q filed Aug 4, 2026 (quarter ended Jun 26, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Jacobs Solutions
- Millennium Management: 345,597 shares, reported value $43.5M at Jun 30, 2026 (+4,424.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 275,900 shares, reported value $34.8M at Jun 30, 2026 (−29.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Two Sigma Investments: 217,288 shares, reported value $27.4M at Jun 30, 2026 (−73.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 57,022 shares, reported value $7.2M at Jun 30, 2026 (−81.0% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 24,701 shares, reported value $3.1M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 12,878 shares, reported value $1.6M at Jun 30, 2026 (−86.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Ruane Cunniff & Goldfarb: 6,244 shares, reported value $0.8M at Jun 30, 2026 (−0.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Soros Fund Management: 2,082 shares, reported value $0.3M at Jun 30, 2026 (−17.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in J
- The editor holds no position in Jacobs Solutions (J). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell J from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold J, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Jacobs SolutionsJ | FY2025 | $12.0B | +4.6% | $289M |
| Quanta ServicesPWR | FY2025 | $28.5B | +20.3% | $1.0B |
| Comfort Systems USAFIX | FY2025 | $9.1B | +29.5% | $1.0B |
| EmcorEME | FY2025 | $17.0B | +16.6% | $1.3B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.