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Fluor Corporation

FLR Industrials Engineering & Construction

Fluor Corporation’s revenue for fiscal 2025 (year ended December 2025) was $15.5 billion, down 4.98% from fiscal 2024.

Revenue: +10.5%
EPS: +127.0%
Free cash flow: −825.7%
Total debt: −1.12%

Quarter to September 2026, against a year earlier

45.41 2.20 −4.62%

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Market cap: $6.0B
P/E: 0.0×
Fwd P/E: 13.2×
Dividend yield: —
F-score: 3/9
Altman Z: 3.48
Beneish M: n/a
Dividend safety: 20/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Fluor Corporation (FLR) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2022: revenue by segment, and margins
Energy Solutions	5,872	42.72%
Urban Solutions	4,373	31.82%
Mission Solutions	2,289	16.65%
Other	1,210	8.80%
Gross margin		2.58%
Operating margin		1.52%
Pre-tax margin		1.78%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Urban Solutions	9,200 59.34%	7,239 44.37%	5,262 34.01%	4,373 31.82%	—	—	—	—	—	—	—	—
Energy Solutions	3,554 22.92%	5,976 36.63%	6,307 40.76%	5,872 42.72%	—	—	—	—	—	—	—	—
Mission Solutions	2,720 17.54%	2,594 15.90%	2,655 17.16%	2,289 16.65%	—	—	—	—	—	—	—	—
Other	29 0.19%	506 3.10%	1,250 8.08%	1,210 8.80%	—	—	—	—	—	—	—	—
Energy Chemicals And Mining	—	—	—	—	9,250 48.59%	11,865 65.50%	14,563 67.64%	—	—	—	—	—
Industrial Infrastructure And Power	—	—	—	—	4,599 24.16%	2,264 12.50%	2,855 13.26%	—	—	—	—	—
Government	—	—	—	—	2,720 14.29%	2,557 14.12%	2,512 11.67%	2,749 10.05%	3,305 11.98%	3,398 14.53%	3,038 14.57%	1,983 9.02%
Diversified Services	—	—	—	—	2,468 12.96%	1,427 7.88%	1,602 7.44%	—	—	—	—	—
Oil And Gas	—	—	—	—	—	—	—	11,621 42.49%	9,514 34.50%	7,962 34.05%	7,740 37.12%	11,827 53.78%
Industrial And Infrastructure	—	—	—	—	—	—	—	10,987 40.17%	13,238 48.00%	10,706 45.79%	6,867 32.94%	4,821 21.92%
Power	—	—	—	—	—	—	—	1,389 5.08%	841 3.05%	743 3.18%	1,696 8.13%	1,782 8.10%
Global Services	—	—	—	—	—	—	—	606 2.21%	680 2.46%	573 2.45%	1,509 7.24%	1,578 7.18%
Revenue	15,503	16,315	15,474	13,744	19,037	18,114	21,532	27,352	27,577	23,381	20,849	21,990

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Urban Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mission Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Energy Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Energy Chemicals And Mining	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial Infrastructure And Power	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Diversified Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Government	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial And Infrastructure	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Oil And Gas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Global Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Power	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
North America	11,314 72.98%	11,089 67.97%	10,514 67.95%	8,819 64.17%	8,532 60.27%	9,832 62.28%	7,895 51.09%	8,982 47.65%	6,581 44.45%	9,892 51.96%	7,857 43.38%	7,466 34.68%	7,295 26.67%	7,021 25.46%	6,960 29.77%	7,641 36.65%	10,793 49.08%	11,391 51.02%
Europe	2,895 18.67%	2,689 16.48%	2,268 14.66%	2,240 16.30%	2,223 15.70%	2,528 16.01%	2,869 18.56%	5,327 28.26%	4,083 27.57%	3,372 17.71%	2,509 13.85%	2,070 9.61%	2,096 7.66%	1,633 5.92%	1,737 7.43%	3,030 14.53%	3,911 17.78%	4,338 19.43%
Asia Pacific (includes Australia)	604 3.90%	1,837 11.26%	1,744 11.27%	1,138 8.28%	1,331 9.40%	1,398 8.85%	1,695 10.97%	1,494 7.93%	981 6.63%	1,010 5.31%	870 4.81%	2,568 11.93%	4,503 16.46%	6,350 23.03%	4,396 18.80%	3,325 15.95%	2,898 13.18%	1,991 8.92%
Central and South America	538 3.47%	484 2.97%	741 4.79%	1,338 9.74%	1,723 12.17%	1,482 9.39%	2,021 13.08%	1,263 6.70%	835 5.64%	1,006 5.29%	2,560 14.13%	2,495 11.59%	3,510 12.83%	3,527 12.79%	2,823 12.07%	1,687 8.09%	1,380 6.27%	1,428 6.40%
Middle East and Africa	152 0.98%	216 1.32%	207 1.34%	209 1.52%	347 2.45%	548 3.47%	974 6.30%	1,786 9.47%	903 6.10%	1,586 8.33%	1,857 10.25%	2,799 13.00%	3,671 13.42%	3,675 13.33%	3,339 14.28%	2,744 13.16%	2,300 10.46%	2,169 9.72%
Canada	—	—	—	—	—	—	—	—	1,423 9.61%	2,170 11.40%	2,459 13.58%	4,133 19.20%	6,276 22.94%	5,372 19.48%	4,128 17.65%	2,422 11.62%	709 3.22%	1,008 4.52%
Revenue	15,503	16,315	15,474	13,744	14,156	15,788	15,454	18,851	14,807	19,037	18,114	21,532	27,352	27,577	23,381	20,849	21,990	22,326

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Backlog related to projects located outside of the U.S.	Q2 FY2026	42.0%	42.0%	—
Backlog related to reimbursable projects	Q2 FY2026	85.0%	80.0%	—
Energy Solutions backlog	Q2 FY2026	$3.5B	$5.6B	−38.01%
Energy Solutions new awards	Q2 FY2026	$704.0M	$549.0M	+28.23%
Mission Solutions backlog	Q2 FY2026	$4.0B	$2.0B	+95.06%
Mission Solutions new awards	Q2 FY2026	$2.2B	$363.0M	+513.50%
New awards reimbursable	Q2 FY2026	89.0%	72.0%	—
New awards related to projects located outside of the U.S.	Q2 FY2026	37.0%	50.0%	—
Remaining performance obligations	Q2 FY2026	$25.9B	$26.8B	−3.64%
Total backlog	Q2 FY2026	$26.9B	$28.2B	−4.66%
Total new awards	Q2 FY2026	$6.1B	$1.8B	+245.19%
Urban Solutions backlog	Q2 FY2026	$19.4B	$20.6B	−5.53%
Urban Solutions new awards	Q2 FY2026	$3.2B	$856.0M	+270.56%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Backlog related to projects located outside of the U.S.	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Backlog related to reimbursable projects	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Energy Solutions backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Energy Solutions new awards	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mission Solutions backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mission Solutions new awards	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
New awards reimbursable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
New awards related to projects located outside of the U.S.	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total new awards	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Urban Solutions backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Urban Solutions new awards	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.