FLU Balance Sheet - Fluor Corp

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Price: 44.73 EUR -2.08% Market Closed

Market Cap: €4B

Financial profile · Q3 FY2026

Project-driven contractor with modest margins and volatile reported earnings

Fluor's large project-revenue base has generally generated modest operating profits, while non-operating items have caused substantial year-to-year swings in net income. Capital spending is small relative to revenue, but project-related cash movements leave free cash flow less predictable than sales.

What is developing

The latest quarter showed positive operating income, net income, and free cash flow, while TTM common net income remained negative. Recent operating improvement is meaningful, but the trailing result still reflects the company's volatile non-operating earnings pattern.

What matters next

Whether TTM operating cash flow and free cash flow remain positive as project-related cash movements roll through.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	1.9B	1.8B	1.8B	2B	2.2B	2.2B	2.4B	2.5B	2.8B	2.1B
Cash Equivalents	1.9B	1.8B	1.8B	2B	2.2B	2.2B	2.4B	2.5B	2.8B	2.1B
Short-Term Investments	111m	161.1m	214.8m	7.3m	23.3m	127m	185m	69m	130m	1.6B
Total Receivables	1.7B	1.6B	2.2B	2.5B	2.1B	2.2B	2B	2.1B	2.1B	2.2B
Accounts Receivables	1.7B	1.6B	2.2B	2.5B	2.1B	2.2B	2B	2.1B	2.1B	2.2B
Other Receivables	0	0	0	0	0	0	0	0	0	0
Inventory	1.5B	1.5B	—	—	—	1m	1m	—	—	—
Other Current Assets	411.3m	574.8m	1.1B	906.7m	662.5m	607m	395m	347m	157m	450m
Total Current Assets	5.6B	5.6B	5.4B	5.4B	5B	5.2B	5B	5.1B	5.2B	6.4B
PP&E Net	1B	1.1B	745.9m	594.8m	776.6m	456m	595m	584m	494m	464m
PP&E Gross	1B	1.1B	745.9m	—	776.6m	—	595m	584m	—	—
Accumulated Depreciation	(1.1B)	(1.2B)	(925.9m)	—	(1B)	—	(1B)	(866m)	—	—
Goodwill	532.2m	564.7m	466.5m	508.4m	349.3m	249m	206m	206m	199m	—
Long-Term Investments	883.9m	992.5m	903.1m	600.8m	532.1m	517m	584m	614m	2.8B	543m
Other Long-Term Assets	1.2B	1.1B	1.4B	895.8m	617.9m	686m	398m	506m	447m	787m
Other Assets	532.2m	564.7m	466.5m	508.4m	349.3m	249m	206m	206m	199m	—
Total Assets	9.2B	9.3B	8.9B	8B	7.3B	7.1B	6.8B	7B	9.1B	8.2B
Accounts Payable	1.6B	1.5B	1.4B	1.5B	1.2B	1.2B	1B	1.2B	1.2B	1.5B
Accrued Liabilities	1.4B	1.1B	949.5m	1.1B	1.1B	1.4B	1.3B	1.3B	1.2B	1.3B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	82.2m	27.4m	26.9m	38.7m	25.5m	18m	158m	0	—	—
Other Current Liabilities	780.4m	893.1m	1.3B	1.2B	1.2B	945m	742m	639m	684m	633m
Deferred Revenue	763.8m	874m	903.4m	1.2B	1.1B	945m	742m	639m	684m	633m
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	985m	1.2B	1.1B	1.1B
Deferred Income Tax	—	—	0	83.3m	80.7m	67m	73m	70m	468m	6m
Minority Interest	117.6m	150.1m	146.1m	96.3m	233m	174m	210m	112m	43m	33m
Other Liabilities	639.6m	669.5m	581.5m	742.4m	683.8m	667m	557m	530m	508m	505m
Total Liabilities	6.1B	6B	6B	6.5B	6.3B	5.7B	5B	5B	5.2B	5B
Common Stock	1.4m	1.4m	1.4m	1.4m	1.4m	1m	1m	2m	2m	2m
Retained Earnings	3.6B	3.7B	3.3B	1.7B	1.2B	791m	896m	979m	3.1B	3.1B
Additional Paid In Capital	38.3m	88.2m	82.1m	165.3m	195.9m	967m	1.3B	1.2B	1.2B	443m
Unrealized Security Profit/Loss	(300k)	(700k)	0	—	—	—	—	—	—	—
Other Equity	(496.4m)	(401.5m)	(543.5m)	(379.9m)	(416.9m)	(366m)	(365m)	(269m)	(351m)	(265m)
Total Equity	3.1B	3.3B	2.8B	1.5B	1B	1.4B	1.8B	1.9B	3.9B	3.2B
Total Liabilities & Equity	9.2B	9.3B	8.9B	8B	7.3B	7.1B	6.8B	7B	9.1B	8.2B
Common Shares Outstanding	139.3m	139.9m	139.7m	140.2m	140.7m	141.4m	142.3m	170.4m	169.2m	152m
Preferred Shares Outstanding	—	—	—	—	—	600k	600k	—	—	—