KBR Inc KBR

IndustrialsSoftware & IT ServicesUnited States of America

Last close 38.70 USD on Nov 1, 2026, −2.4% year to date

Quant rating

Quant rating C Rank 286 of 486 in Industrials

Growth C 299 of 486
Valuation A 60 of 486
Quality D 364 of 486
Revisions C 315 of 486
Momentum C 214 of 486

Wall Street consensus Buy (2.33)Average target 44.23 USD +14.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.9B
Enterprise value: 7.1B
52-week range: 29.94 – 45.36
3-year range: 29.94 – 72.02
Dividend yield: 1.71%
Beta (5 years): 0.45
Shares outstanding: 126M
Next earnings: Feb 25, 2027

About the company

KBR, Inc. is engaged in delivering science, technology, and engineering solutions to governments and companies around the world. The Company’s segments include Mission Technology Solutions and Sustainable Technology Solutions. The Mission Technology Solutions segment provides full life-cycle support solutions to defense, intelligence, space, aviation and other programs and missions for military and other government agencies, primarily in the United States, United Kingdom and Australia. The Sustainable Technology Solutions business segment is anchored by its portfolio of approximately 85 proprietary, sustainability-focused process technologies that reduce emissions, increase efficiency and/or accelerate and enable energy transition across the industrial base in four primary verticals: ammonia/syngas, chemical/petrochemicals, clean refining and circular process/circular economy solutions. It also offers services including advisory and consulting focused on energy security.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	7,786	7,710	6,956	6,564	7,339	–
Revenue growth	1.0%	10.8%	6.0%	−10.6%	27.3%	6.2%
EPS (basic, normalized)	3.39	3.34	2.91	2.71	2.42	–
EPS growth	1.5%	14.8%	7.4%	12.0%	–	–
Gross margin	14.8%	14.3%	14.0%	12.6%	11.0%	13.3%
Net margin	5.8%	4.9%	−3.8%	2.9%	0.4%	2.0%
ROE	30.5%	26.4%	−17.6%	11.6%	1.7%	10.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	439
Current ratio	1.15x
Long-term debt (mil)	2,503
Net debt (mil)	2,246
Total equity (mil)	1,764
Net debt / equity	1.27x
Net debt / EBITDA	2.32x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	7,786	+1.0%	0.9x	968	+12.3%	7.4x	3.39	+1.5%	11.4x
2026	8,011	+2.9%	0.9x	1,010	+4.3%	7.1x	4.05	+19.5%	9.6x
2027	8,463	+5.6%	0.8x	999	−1.1%	7.1x	4.02	−0.7%	9.6x
2028	8,775	+3.7%	0.8x	953	−4.6%	7.5x	3.89	−3.2%	9.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	8,011	−0.6%	−0.5%	−0.3%	4.05	+1.4%	+1.4%	+1.8%
2027	8,463	−0.5%	−0.5%	+0.1%	4.02	−1.0%	−1.4%	−4.2%
2028	8,775	−1.6%	−1.2%	−1.3%	3.89	−0.2%	−1.1%	−17.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,818	1,855	1,947	2,122	2,055	1,952	1,931	1,885	1,923	1,984
Sales mean (mil)	1,781	1,876	1,954	1,999	2,072	2,081	1,973	1,905	1,881	1,870
Surprise	+2.1%	−1.1%	−0.4%	+6.2%	−0.8%	−6.2%	−2.1%	−1.1%	+2.2%	+6.1%
EPS reported	0.77	0.83	0.84	0.91	0.98	0.91	1.02	0.99	0.96	0.99
EPS mean	0.70	0.79	0.84	0.82	0.86	0.88	0.96	0.95	0.91	0.90
Surprise	+9.7%	+4.8%	+0.2%	+11.5%	+13.7%	+2.9%	+6.8%	+4.3%	+5.6%	+9.6%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
KBR KBR Inc	4.9B	2.32x	5.8%	2.98x	9.6x	9.6x	7.1x	7.1x
LDOS Leidos Holdings, Inc.	17.9B	2.20x	8.4%	3.40x	11.5x	11.6x	9.5x	9.6x
CACI CACI International Inc	15.0B	3.88x	5.6%	3.23x	20.0x	17.3x	13.9x	12.8x
BAH Booz Allen Hamilton Holding Corporation	10.5B	3.32x	7.5%	8.47x	13.4x	13.1x	11.5x	10.9x
SAIC Science Applications International Corp	6.4B	3.33x	4.9%	4.44x	14.1x	13.2x	11.5x	11.3x
Mean		3.01x	6.5%	4.50x	13.7x	13.0x	10.7x	10.4x
Median		3.32x	5.8%	3.40x	13.4x	13.1x	11.5x	10.9x

Technical analysis

1M+11.1%
3M+3.9%
1Y−8.5%
3Y−29.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, KBR Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	7,786	7,710	6,956	6,564	7,339	5,767
Cost of revenue	6,636	6,611	5,979	5,736	6,533	5,101
Gross profit	1,150	1,099	977	828	806	666
Selling, general & administrative expenses	578	543	488	420	393	335
Research & development	–	–	–	–	–	–
Interest expense (income), operating	−210	−107	−114	80.0	170	−30.0
Unusual expense (income)	0	0	221	−15.0	12.0	304
Other operating expenses	4.0	4.0	4.0	0	0	0
Operating income	778	659	378	343	231	57.0
Net interest income (expense)	−158	−144	−539	−75.0	−92.0	−72.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−6.0	−7.0	−5.0	16.0	7.0	1.0
Net income before taxes	614	508	−166	284	146	−14.0
Provision for taxes	156	129	95.0	92.0	111	28.0
Minority interest	−7.0	−5.0	−4.0	−2.0	−8.0	−21.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	451	374	−265	190	27.0	−63.0
Extraordinary items	−36.0	1.0	–	–	–	–
Net income	415	375	−265	190	27.0	−63.0
EBIT, normalized	568	552	485	430	470	331
EBITDA, normalized	683	660	580	520	578	409
Basic EPS, normalized	3.39	3.34	2.91	2.71	2.42	–

Balance sheet in millions of USD, fiscal years

Balance sheet, KBR Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	500	350	304	389	370	436
Receivables	1,409	1,380	1,191	1,218	1,656	1,099
Total inventory	–	–	–	–	–	–
Prepaid expenses	83.0	82.0	90.0	85.0	90.0	81.0
Other current assets	59.0	61.0	66.0	55.0	36.0	18.0
Total current assets	2,051	1,873	1,651	1,747	2,152	1,634
Property, plant & equipment	449	492	377	346	294	284
Goodwill	2,677	2,630	2,109	2,087	2,060	1,761
Intangibles	727	763	618	645	708	683
Long-term investments	107	192	206	188	576	881
Note receivable	–	–	–	29.0	30.0	30.0
Other long-term assets	573	713	604	524	384	432
Total assets	6,584	6,663	5,565	5,566	6,204	5,705
Liabilities
Accounts payable	712	777	593	637	1,026	574
Payable/accrued	–	–	–	–	–	–
Accrued expenses	432	457	429	405	392	356
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	54.0	43.0	42.0	373	16.0	17.0
Other current liabilities	490	505	508	406	441	508
Total current liabilities	1,688	1,782	1,572	1,821	1,875	1,455
Long-term debt	2,551	2,542	1,811	1,386	1,875	1,586
Minority interest	9.0	14.0	11.0	12.0	14.0	29.0
Other liabilities	833	872	788	727	771	1,055
Total liabilities	5,081	5,210	4,182	3,946	4,535	4,125
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	0.2	0.2	0.2	0.2	0.2	0.2
Additional paid-in capital	2,552	2,526	2,505	2,235	2,206	2,222
Retained earnings (accumulated deficit)	1,697	1,367	1,072	1,410	1,287	1,305
Treasury stock	−1,818	−1,494	−1,279	−1,143	−943	−864
Other equity	−928	−946	−915	−882	−881	−1,083
Total equity	1,503	1,453	1,383	1,620	1,669	1,580
Total liabilities & shareholders' equity	6,584	6,663	5,565	5,566	6,204	5,705

Cash flow statement in millions of USD, fiscal years

Cash flow statement, KBR Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	403	381	−261	192	26.0	−51.0
Depreciation, depletion & amortization	169	156	141	137	146	115
Deferred taxes	60.0	1.0	14.0	37.0	44.0	−40.0
Non-cash items	−189	−133	405	78.0	226	192
Changes in working capital	81.0	32.0	14.0	−48.0	−164	151
Cash from operations	524	437	313	396	278	367
Investing activities
Capital expenditures	−42.0	−52.0	−62.0	−71.0	−37.0	−20.0
Other investing cash flows	58.0	−699	10.0	108	−391	−857
Cash from investing	16.0	−751	−52.0	37.0	−428	−877
Financing activities
Financing cash flow items	−4.0	−41.0	483	−19.0	−28.0	−12.0
Cash dividends paid	−84.0	−79.0	−72.0	−66.0	−61.0	−54.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−315	494	−770	−314	176	291
Cash from financing	−403	374	−359	−399	87.0	225
Foreign exchange effects	18.0	−14.0	13.0	−15.0	−3.0	9.0
Net change in cash	155	46.0	−85.0	19.0	−66.0	−276
Free cash flow	482	385	251	325	241	347

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.