J
Jacobs Solutions Inc.
J's fundamentals are mixed, but it looks expensive: trading at 56x earnings, about twice its usual 29x. Analysts expect earnings growth.
J Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Under pressure |
J's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is under pressure.
J PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $159 | — |
| Cheap | 22x | $61.39 | -61% |
| Fair | 29x | $80.58 | -49% |
| Expensive | 41x | $116 | -27% |
| Current | 56x | $159 | — |
Historical ranges are pointers, not guarantees.
J's PE is in its expensive range at 56x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its cheap range.
J Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect J's earnings to grow and its profitability to improve, with its revenue holding steady.
J Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.17 | +191% |
| Q2 2026 | $2.81 | -30% |
| Q1 2026 | $3.21 | -12% |
| Q4 2025 | $3.61 | -26% |
| Q3 2025 | $2.38 | -62% |
| Q2 2025 | $4.01 | -21% |
| Q1 2025 | $3.63 | -30% |
| Q4 2024 | $4.85 | -14% |
| Q3 2024 | $6.33 | +19% |
J's earnings per share have fallen from their peak: $2.81 over the past year, against $7.16 in late 2019.
J Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.1B | +34% |
| Q1 2026 | $3.7B | +27% |
| Q4 2025 | $3.3B | +12% |
| Q3 2025 | $3.2B | +6.6% |
| Q2 2025 | $3B | -28% |
| Q1 2025 | $2.9B | -32% |
| Q4 2024 | $2.9B | -29% |
| Q3 2024 | $3B | -31% |
J's revenue has grown year over year for four quarters in a row: $4.1B last quarter, up 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 7% | -0.7 points |
| Q1 2026 | -2.2% | -9.4 points |
| Q4 2025 | 7.1% | -0.1 points |
| Q3 2025 | 6.7% | +0.1 points |
| Q2 2025 | 7.8% | +1.6 points |
| Q1 2025 | 7.2% | +0.6 points |
| Q4 2024 | 7.1% | +2.2 points |
| Q3 2024 | 6.6% | +0.1 points |
J's operating margin was 7% last quarter, down 0.7 points from the same quarter a year ago.
J Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $431M | +59% |
| Q1 2026 | -$504.9M | -$391.2M |
| Q4 2025 | $364.9M | +276% |
| Q3 2025 | $353.5M | +123% |
| Q2 2025 | $270.5M | -39% |
| Q1 2025 | -$113.7M | -$43.1M |
| Q4 2024 | $97.1M | -76% |
| Q3 2024 | $158.2M | -12% |
J still generates free cash flow, though less than at its 2024 peak: $645M over the past year.
J Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.4% | +1.6M shares |
| 1 year | -1.3% | -1.6M shares |
| 3 years | -6.5% | -8.2M shares |
| 5 years | -9.5% | -12.5M shares |
| Available history | -15% | -20.3M shares |
J has 119M diluted shares, down 1.3% from a year ago, with $715M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $142.2M |
| Q1 2026 | $219.8M |
| Q4 2025 | $252.1M |
| Q3 2025 | $100.9M |
| Q2 2025 | $100.8M |
| Q1 2025 | $350.8M |
| Q4 2024 | $201.6M |
| Q3 2024 | $56.3M |
J spent $715M buying back its own shares over the past year, about the same as the year before.
J Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.3x | Elevated |
| Q1 2026 | 4.0x | Elevated |
| Q4 2025 | 1.0x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.3x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.2x | Healthy |
| Q3 2024 | 1.0x | Healthy |
J's net debt is about 3.3 years of its operating earnings (EBITDA), up from 1.3 years a year ago.
J Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.3 | Neutral |
| Stochastic | 79.5 | Neutral |
J's weekly RSI is 65 (neutral) and its Stochastic is 79 (neutral).
J PE vs Industrials Sector
| Metric | J | Sector median | Relative |
|---|---|---|---|
| PE | 56x | 24x | 135% above |
| PE % | 96 | 58 | 38 pts above |
J is trading at 56x earnings, a 135% premium to the Industrials sector's median of 24x.
J Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $145.5 | 9.1% above |
| 20 week MA | $142.1 | 12% above |
| 50 week MA | $135.0 | 18% above |
| 100 week MA | $135.1 | 17% above |
| 200 week MA | $124.1 | 28% above |
J is in an uptrend: it's above all five of its weekly moving averages, and 28% above its 200-week average.
J Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.1 | $88.7 | +20% |
| 2021 | $88.7 | $113.6 | +28% |
| 2022 | $113.6 | $100.0 | -12% |
| 2023 | $100.0 | $107.4 | +7.4% |
| 2024 | $107.4 | $133.7 | +25% |
| 2025 | $133.7 | $135.3 | +1.2% |
| 2026 YTD | $135.3 | $158.7 | +17% |
J has finished higher in five of the last six years. It's up 17% so far in 2026.