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ValueScreener company report

KBR, Inc. (KBR)

NYSE / Industrials / Engineering & Construction

Share price

36.44 USD Market dataClose of Oct 15, 2026

Market capitalisation

4.59B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 26, 2026
Ratios computed
Oct 15, 2026
Filed years
18, FY2007 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

14.9% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

11.35x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

11.0% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 4.27B USDFY2016 Net income: -70.0M USDFY2017 Revenue: 4.17B USDFY2017 Net income: 432.0M USDFY2018 Revenue: 4.91B USDFY2018 Net income: 281.0M USDFY2019 Revenue: 5.64B USDFY2019 Net income: 202.0M USDFY2020 Revenue: 5.77B USDFY2020 Net income: -63.0M USDFY2021 Revenue: 7.34B USDFY2021 Net income: 27.0M USDFY2022 Revenue: 6.56B USDFY2022 Net income: 190.0M USDFY2023 Revenue: 6.96B USDFY2023 Net income: -265.0M USDFY2024 Revenue: 7.71B USDFY2024 Net income: 375.0M USDFY2025 Revenue: 7.79B USDFY2025 Net income: 415.0M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
7 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 11.35x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 10.00x and 15.00x.

Today, against the Industrials sector (412 companies), 11.35x sits at the 19th percentile; the middle half of that group runs from 14.79x to 38.17x.

Is it good

Return on invested capital was 14.9% in FY2025, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Industrials sector (294 companies), 14.9% sits at the 74th percentile; the middle half of that group runs from 4.0% to 15.3%.

Is it safe

Interest coverage was 4.92x in FY2025, in the band labelled "Investment grade" (3.00x to 6.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether KBR, Inc.'s return on equity stayed above the median of the Engineering & Construction industry, year by year. (FY2023 to FY2025, 3 fiscal years of KBR, Inc. with a comparable figure)
The direction
Which way KBR, Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of KBR, Inc.)
What could explain it
What in KBR, Inc.'s filed statements could explain the movements. (10 readings drawn from the statement lines KBR, Inc. filed)
What to check next
What to check next on KBR, Inc., and where in its filings. (3 questions for KBR, Inc.)
In one paragraph
One paragraph on KBR, Inc.'s returns, cash, balance sheet and price. (16 of sixteen figures read for KBR, Inc.)

These are KBR’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research KBRPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 26, 2026, accession 0001357615-26-000051.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

KBR, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax14.9% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Return on equity27.6% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Return on capital employed, pre-tax15.9% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Return on assets6.3% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Gross margin14.8% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Operating margin10.0% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Net margin5.3% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
KBR 5.3%
GVA 4.4%PRIM 3.6%AGX 14.6%MYRG 3.2%ROAD 3.6%
3.2%14.6%
Net margin: KBR against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

KBR, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.93 ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Current ratio1.22 ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Quick ratio1.22 ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Interest coverage4.92x ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Altman Z-score2.56 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Net debt2.40B ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Total assets 6.58BTotal liabilities 5.07BShareholders' equity 1.50BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What KBR, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 26, 2026, 0001357615-26-000051).

KBR, Inc: balance sheet position
Total assets6.58B FiledFY2025 10-K, filed Feb 26, 2026
Total liabilities5.07B FiledFY2025 10-K, filed Feb 26, 2026
Shareholders' equity1.50B FiledFY2025 10-K, filed Feb 26, 2026
Cash500.0M FiledFY2025 10-K, filed Feb 26, 2026
Total debt2.90B FiledFY2025 10-K, filed Feb 26, 2026
Net debt2.40B
Current ratio1.22
Debt to equity1.93

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

KBR, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings11.35x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
P/E on trailing twelve months10.61x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.13x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Price to sales0.60x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Enterprise value to EBIT9.12x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Enterprise value to EBITDA7.49x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Diluted earnings per share3.21 USD FiledFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Graham number29.01 USD ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051

We publish no fair value or price target of our own. Value KBR on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for KBR, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

KBR, Inc: valuation
Share price36.44 USD
Market capitalisation4.59B USD
Enterprise value to EBITDA7.49x
Graham number29.01 USD
Diluted earnings per share, FY20253.21 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 3.91x, median 18.96x, high 297.47x, latest 10.61x. 1,709 trading days with a meaningful ratio, 813 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like KBR, Inc

  1. Granite Construction Incorporated (GVA)Market cap 4.76B USD
  2. Primoris Services Corporation (PRIM)Market cap 4.00B USD
  3. Argan, Inc. (AGX)Market cap 5.15B USD
  4. MYR Group Inc. (MYRG)Market cap 4.45B USD
  5. Construction Partners, Inc. (ROAD)Market cap 4.71B USD

Same industry (Engineering & Construction) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

KBR, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield11.0% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Free cash flow515.0M USD ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Free cash flow margin6.6% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Dividend yield1.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Payout ratio20.2% ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
FY2016 Free cash flow: 50.0M USDFY2016 Net income: -70.0M USDFY2017 Free cash flow: 185.0M USDFY2017 Net income: 432.0M USDFY2018 Free cash flow: 148.0M USDFY2018 Net income: 281.0M USDFY2019 Free cash flow: 236.0M USDFY2019 Net income: 202.0M USDFY2020 Free cash flow: 347.0M USDFY2020 Net income: -63.0M USDFY2021 Free cash flow: 248.0M USDFY2021 Net income: 27.0M USDFY2022 Free cash flow: 325.0M USDFY2022 Net income: 190.0M USDFY2023 Free cash flow: 269.0M USDFY2023 Net income: -265.0M USDFY2024 Free cash flow: 410.0M USDFY2024 Net income: 375.0M USDFY2025 Free cash flow: 515.0M USDFY2025 Net income: 415.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

KBR, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
11.35xFY2025Oct 15, 2026
3.13xFY2025Oct 15, 2026
9.12xFY2025Oct 15, 2026
11.0%FY2025Oct 15, 2026
14.9%FY2025Feb 26, 2026
1.8%FY2025Oct 15, 2026
1.93FY2025Feb 26, 2026
1.22FY2025Feb 26, 2026
0.60xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
2.56FY2025Oct 15, 2026
-2.55FY2025Feb 26, 2026
8/9FY2025Feb 26, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 18 filed fiscal years on record, FY2007 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports KBR, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

KBR, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20257.79B778.0M415.0M3.21515.0M10.0%27.6%10-K, Feb 26, 20260001357615-26-000051
FY20247.71B659.0M375.0M2.79410.0M8.6%25.8%10-K, Feb 25, 20250001357615-25-000018
FY20236.96B449.0M-265.0M-1.96269.0M6.5%-19.2%10-K, Feb 20, 20240001357615-24-000016
FY20226.56B343.0M190.0M1.26325.0M5.2%11.7%10-K, Feb 17, 20230001357615-23-000030
FY20217.34B231.0M27.0M0.19248.0M3.1%1.6%10-K, Feb 22, 20220001357615-22-000012
FY20205.77B57.0M-63.0M-0.44347.0M1.0%-4.0%10-K, Feb 25, 20210001357615-21-000040
FY20195.64B362.0M202.0M1.41236.0M6.4%11.0%10-K, Feb 24, 20200001357615-20-000034
FY20184.91B468.0M281.0M1.99148.0M9.5%16.6%10-K, Feb 26, 20190001357615-19-000030
FY20174.17B264.0M432.0M3.05185.0M6.3%35.1%10-K, Feb 23, 20180001357615-18-000033
FY20164.27B19.0M-70.0M-0.4950.0M0.5%-9.3%10-K, Feb 24, 20170001357615-17-000035
  • Revenue, compound annual growth FY2016 to FY2025: 6.9%
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow, compound annual growth FY2016 to FY2025: 29.6%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

KBR, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.55 ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Piotroski F-score8/9 ComputedFY2025 10-K, filed Feb 26, 2026, 0001357615-26-000051
Named tests met7 of 30 Computed
Beta0.74 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 7 met, 23 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
EV/EBITDA and coverage; ROIC at or above WACC; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Figures we could not read(3)
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 3 figures could not be read on this company: PEG Ratio, Eps Growth 5Y, Price Tangible Book.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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