Fluor (FLR) financial statements
Fluor reported revenue of $15.5B in fiscal 2025, down 2.3% a year over 9 years.
Net income was -$51M.
Free cash flow was -$437M, and the company returned $754M in net buybacks.
The diluted share count rose 16% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fluor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.0B | $14.8B | $18.9B | $15.5B | $15.8B | $14.2B | $13.7B | $15.5B | $16.3B | $15.5B |
| Cost of revenue | $18.2B | $14.5B | $18.3B | $15.7B | $15.4B | $13.7B | $13.4B | $15.0B | $15.7B | $15.6B |
| Gross profit | $790M | $278M | $569M | -$206M | $410M | $454M | $355M | $477M | $574M | -$120M |
| Selling, general and admin | $191M | $184M | $121M | $140M | $215M | $226M | $237M | $232M | $203M | $196M |
| Operating income | — | $213M | $510M | -$828M | -$232M | -$273M | $209M | $147M | $463M | -$378M |
| Interest expense | $70M | $67M | $77M | $65M | $72M | $90M | $59M | $60M | $46M | $42M |
| Pre-tax income | $547M | $54M | $386M | -$839M | -$278M | -$346M | $244M | $315M | $613M | -$311M |
| Income tax | $219M | $16M | $173M | $482M | $23M | $20M | $171M | $236M | $634M | -$39M |
| Net income | $281M | $154M | $173M | -$1.5B | -$435M | -$440M | $145M | $139M | $2.1B | -$51M |
| EPS (diluted) | $2.00 | $1.09 | $1.23 | -$10.87 | -$3.10 | — | $0.73 | $0.54 | $12.30 | -$0.31 |
| Diluted shares | 141M | 141M | 141M | 140M | 141M | 141M | 145M | 153M | 174M | 164M |
| Gross margin | 4.2% | 1.9% | 3.0% | -1.3% | 2.6% | 3.2% | 2.6% | 3.1% | 3.5% | -0.8% |
| Operating margin | — | 1.4% | 2.7% | -5.4% | -1.5% | -1.9% | 1.5% | 0.9% | 2.8% | -2.4% |
| Net margin | 1.5% | 1.0% | 0.9% | -9.8% | -2.8% | -3.1% | 1.1% | 0.9% | 13.1% | -0.3% |
Balance sheet
Fiscal years, from Fluor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.0B | $2.0B | $2.0B | $2.0B | $2.2B | $2.3B | $2.6B | $2.6B | $3.0B | $2.2B |
| Total current assets | $5.6B | $5.6B | $5.4B | $5.4B | $5.0B | $5.2B | $5.0B | $5.1B | $5.2B | $6.4B |
| Property, plant and equipment | $1.0B | $1.1B | $746M | $595M | $464M | $456M | $447M | $458M | $494M | $464M |
| Goodwill | $532M | $565M | $466M | $508M | $207M | $249M | $206M | $206M | $199M | — |
| Total assets | $9.2B | $9.3B | $8.9B | $8.0B | $7.3B | $7.1B | $6.8B | $7.0B | $9.1B | $8.2B |
| Total current liabilities | $3.8B | $3.6B | $3.7B | $3.9B | $3.6B | $3.6B | $3.2B | $3.2B | $3.1B | $3.4B |
| Long-term debt | $1.5B | $1.6B | $1.7B | $1.7B | $1.7B | $1.2B | $978M | $1.2B | $1.1B | $1.1B |
| Total liabilities | $6.0B | $5.9B | $5.9B | $6.4B | $6.0B | $5.5B | $4.8B | $4.9B | $5.2B | $5.0B |
| Shareholders' equity | $3.1B | $3.3B | $2.8B | $1.5B | $1.0B | $1.4B | $1.8B | $1.9B | $3.9B | $3.2B |
| Net debt | -$250M | -$185M | -$76M | -$345M | -$498M | -$1.0B | -$1.5B | -$1.4B | -$1.7B | -$1.1B |
Cash flow
Fiscal years, from Fluor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $706M | $602M | $162M | $219M | $186M | $25M | $31M | $212M | $828M | -$387M |
| Capital spending | $236M | $283M | $211M | $181M | $113M | $75M | $75M | $106M | $164M | $50M |
| Free cash flow | $470M | $319M | -$49M | $38M | $73M | -$50M | -$44M | $106M | $664M | -$437M |
| Stock-based compensation | $40M | $41M | $43M | $36M | $22M | $32M | $19M | $48M | $31M | $30M |
| Dividends paid | $118M | $118M | $119M | $118M | $29M | — | — | — | — | — |
| Share buybacks (net) | -$10M | $0 | -$50M | $0 | $0 | — | $0 | $0 | -$125M | -$754M |
| Net borrowing | — | — | — | — | — | -$525M | -$41M | -$249M | -$57M | -$37M |
| Free cash flow margin | 2.5% | 2.2% | -0.3% | 0.2% | 0.5% | -0.4% | -0.3% | 0.7% | 4.1% | -2.8% |
| Dividends per share | $0.84 | $0.84 | $0.84 | $0.84 | $0.20 | — | — | — | — | — |
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Open FLR in InvestinglyQuestions
What was Fluor's revenue in 2025?
$15.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Fluor generate?
-$437M in fiscal 2025 (operating cash flow minus capital spending).
From Fluor's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.