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The Screen · Industrials · Engineering & Construction
AECOM
ACM · the NYSE · USD · Market cap $8.5B · 51,000 employees
AECOM, together with its subsidiaries, provides professional infrastructure consulting services for governments, businesses, and organizations internationally.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.14, read 2026-11-05
Ethical passes the values gate
Price66.72 USD
Fair value100.00
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-11-02Read Accumulation63.34+5.3% to today ✓Markup gives way to Accumulation after a 9% rise in 7 days
2026-10-26Read Markup58.02+15.0% to today ✓Distribution gives way to Markup after a 17% slide in 17 weeks
2026-07-02Read Distribution70.12-4.8% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
AECOM holds its Accumulation at $66.72. Consolidating, no directional conviction, held for 24 days.
As held on the ledger · 2026-11-05
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 24 days
Price at the screen
$66.72
Valuation
23.33 trailing · 10.61 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.90
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
26.47%
Below 33%
Interest-bearing debt is just 26.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
33.47%
Below 49%
Money owed to the company is 33.5% of assets, under the 49% limit.
Pass
Revenue purity
0.39%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
AECOM clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 26%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today ACM passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 33% discount to our $100.00 fair value.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 33.3% discount to the base estimate.
Where our models see it going: fair-value estimate $100.00, with a range of $93.64 to $133.44, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cheap buildout stock or just another cycle trap
Governments keep pouring money into roads, rail and power grids, yet the firms that plan those projects rarely capture much of the upside. AECOM sits right in that middle layer, advising on projects worldwide while its own revenue inches forward just 1 percent a year and margins sit at 3 percent. The shares trade at 10.2 times forward earnings with a 29 percent return on equity, but the low multiple reflects a business that has never shown it can turn big infrastructure spend into sustained profit growth.
We pass because the numbers point to a classic cyclical value trap rather than a bargain. Revenue barely moves, margins stay thin, and the company operates in an industry where earnings peak just before the next slowdown arrives. Strong analyst targets and a clean ethical screen do not change the fact that the underlying growth engine remains weak.
The real risk sits in that revenue stagnation. Any dip in public spending or delay in large projects would quickly expose how little pricing power the business actually holds. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ACM trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 9.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-10-26Markup · changed$58.02-1.8%Entry 11
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-10-19Distribution$59.09-0.3%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-10-12Distribution$59.28-0.5%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-10-02Distribution$59.60-6.2%Entry 8
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-09-19Distribution$63.53-15.2%Entry 7
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 15.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-08-20Distribution$74.93+9.7%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 9.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-07-20Distribution$68.29-2.6%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-07-18Distribution$70.12+0.0%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
2026-07-16Distribution$70.12+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it strong buy, with a mean price target of $107.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
