JACOBS SOLUTIONS (J) Company Report

On February 24, 2026, Jacobs Solutions Inc. and its subsidiary entered into an underwriting agreement to issue $800 million of 4.750% Senior Notes due 2031 and $500 million of 5.375% Senior Notes due 2036, fully and unconditionally guaranteed by Jacobs Engineering Group Inc.
The Company expects net proceeds of approximately $1,286 million after underwriting discounts and expenses, to be used for the cash consideration of a pending acquisition, repayment of revolving credit and term loan borrowings, and for general corporate purposes
The offering is expected to close on March 3, 2026, subject to customary closing conditions, with securities issued under the existing base indenture (dated February 16, 2023) and a Third Supplemental Indenture effective at closing

1 day ago

8-K

Jacobs Solutions highlights record backlog, AI strategy and capital returns

Revenue Acceleration/Inflection

Share Buyback

Dividends

Jacobs reported a trailing-12-month book-to-bill rising from 1.2 to 1.4, with Q1 at 2.0, and a record backlog split across critical infrastructure (50%), life sciences/advanced manufacturing (25%) and water/environmental (25%).
The data center segment now represents 3–3.5% of revenues, nearly doubling over the past two years, and rises to ~10% when including utilities and chip-manufacturing work, supported by a growing pipeline.
Jacobs has deployed 32+ AI-enabled platforms (e.g., Acuity, Engage AI) to drive client efficiencies and margin expansion, and has built a proprietary LLM, Jacobs AI, leveraging 40 years of project data.
The company returned >100% of free cash flow in FY 2025 and is committed to ≥65% in FY 2026, raised its dividend 12.5%, is buying back stock aggressively, and targets 16%+ adj. EBITDA margin by FY 2029 via operating leverage and expanded global delivery.

Feb 18, 2026, 2:15 PM

Transcript

Jacobs Solutions outlines backlog growth, AI expansion and guidance targets

Guidance Update

M&A

Share Buyback

Jacobs reported a record backlog with a Q1 Book-to-Bill of 2.0 and a trailing-12-month ratio of 1.4; backlog mix is 50% critical infrastructure, 25% life sciences & advanced manufacturing and 25% water & environmental.
Advanced facilities end markets are viewed as sustainable: data center revenue is 3–3.5% of total, nearly doubling over two years, and when combined with utilities and chip-manufacturing work, AI infrastructure accounts for ~10% of revenues.
Digital transformation is driven by 32 AI-enabled platforms co-created with clients—boosting efficiency and multi-year contract stickiness—and Jacobs has built its own LLM (“Jacobs AI”) from 40 years of project data.
Jacobs took full ownership of PA (now 2,000 digital specialists), where margins run 22% with 5%+ revenue growth; capital allocation prioritizes organic growth, returning >100% of free cash flow via buybacks (targeting ≥65%) and raising the dividend by 12.5%.
The company targets 16%+ adjusted EBITDA margin by FY 2029, having expanded margins by 110 bps in FY 2025, with future gains driven by operating leverage, global delivery and improved commercial mix.

Feb 18, 2026, 2:15 PM

Transcript

Jacobs Solutions reports record backlog and growth strategy

Guidance Update

Share Buyback

M&A

Jacobs delivered a record backlog with trailing-12-month book-to-bill rising to 1.4x, underpinned by 50% critical infrastructure, 25% life sciences & advanced manufacturing, and 25% water & environmental end-market exposure, and saw a 2.0x book-to-bill in Q1.
Advanced facilities markets remain sustainable, driven by life sciences, advanced manufacturing, and data centers, with data center revenue at 3–3.5% of total revenues—doubling over two years—and Jacobs’ scope spanning AI infrastructure from chip design through power and water systems.
Jacobs acquired the remaining 35% of PA Consulting, integrating digital and science-based advisory into its platform and growing joint digital capabilities to 2,000 professionals to enhance organic cross-sell.
The company reaffirmed its target of 16%+ adjusted EBITDA margin by FY2029, building on a 110 bp margin increase in FY2025 through operating leverage, global delivery, and improved commercial mix.
Capital allocation priorities are organic growth investment, aggressive share repurchases (over 100% of FY2025 free cash flow; ≥65% committed in FY2026), and dividends (raised 12.5%), with near-term M&A focused on PA.

Feb 18, 2026, 2:15 PM

Transcript

Jacobs Solutions raises guidance after strong Q1 momentum

Guidance Update

M&A

Jacobs Solutions delivered 8.2% organic revenue growth in Q1 and hit a record book-to-bill of 2.0, prompting an upward revision to its full-year outlook.
Q1 bookings were broad-based, with data centers accounting for 20% of the total and the remainder spread across water, semiconductors, and transportation, underpinning backlog growth.
CFO guided FY2026 EBITDA margins to expand by 50–80 bps and raised free cash flow margin guidance from 7–8% to 7–8.5%, driven by operating leverage, global delivery, and mix improvements.
The company is finalizing the acquisition of the remaining 35% stake in PA Consulting, aiming to deepen front-end advisory and defense/security offerings in core end-markets.

Feb 17, 2026, 3:30 PM

Transcript

Jacobs Solutions reports robust Q1 performance and updates guidance at Citi conference

Guidance Update

M&A

Revenue Acceleration/Inflection

Organic Q1 growth accelerated with 8.2% organic revenue increase and a record 2.0 book-to-bill, prompting a guidance raise for FY2026.
AI and digital tools are enhancing project efficiency and margin expansion, supporting both top-line and bottom-line improvements.
Q1 EBITDA margin was 13.4%, with FY2026 expected to improve by 50–80 bps driven by operating leverage and global delivery, targeting 16%+ by FY2029.
FY2026 free cash flow margin guidance increased to 7%–8.5% from 7%–8%, with Q1 FCF ~$360 M and leverage at 0.8x, underpinning continued share buybacks.
Planned acquisition of the remaining 35% stake in PA Consulting, complementing Jacobs’ end-market expertise, with PA expected to grow high single digits at 22% EBITDA margins.

Feb 17, 2026, 3:30 PM

Transcript

Jacobs Solutions outlines Q1 growth, guidance update and PA Consulting acquisition

Guidance Update

Revenue Acceleration/Inflection

M&A

Jacobs delivered 8.2% organic top-line growth in Q1 and achieved an all-time high book-to-bill of 2.0, driving an upward revision to full-year revenue and margin guidance.
Q1 backlog surged broad-based, with data center bookings accounting for ~20% of the uplift and the remainder evenly split across water, semiconductor and transportation sectors.
FY26 EBITDA margin is expected to expand by 50–80 bps (Q1 at 13.4%), with a target of 16%+ by FY29; free cash flow margin guidance was raised to 7–8.5% for FY26 (up from 7–8%).
Jacobs agreed to acquire the remaining 35% of PA Consulting, aiming to integrate early-stage advisory, digital and defense/security capabilities and capture cross-sell synergies, especially in the U.S. market.
Key end markets include double-digit growth in U.S. power/infrastructure, high single-digit growth in water, and life sciences & advanced manufacturing representing ~25% of revenue with high single-digit growth powered by AI-enabled digital twin services.

Feb 17, 2026, 3:30 PM

Transcript

Jacobs secures extension to lead U.K. transport security program

New Projects/Investments

M&A

Jacobs, with PA Consulting and partners, won a four-year extension to lead the U.K. Department for Transport’s National Security Science and Research program, strengthening air, road and rail security.
The consortium—also including QinetiQ, TNO, Iconal Technology, Cambridge University Technical Services and Prometheus Policing Services—will deliver science-led solutions to anticipate risks, respond to threats and safeguard critical transport infrastructure.
Jacobs will apply its expertise in transport infrastructure, systems integration and resilience planning, while PA Consulting brings innovation in quantum, cyber and aviation security.
Jacobs plans to acquire the remaining stake in PA Consulting by the end of its fiscal 2026 Q2, subject to customary closing conditions; both firms continue to operate independently until closing.

Feb 12, 2026, 9:30 AM

Press Release

Jacobs awarded role on US Missile Defense Agency SHIELD contract

New Projects/Investments

Jacobs (NYSE: J) was awarded a role under the U.S. Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) IDIQ contract, which has a ceiling value of $151 billion.
The contract focuses on developing and integrating advanced, scalable, software-enabled solutions across complex, mission-critical system environments.
Jacobs’ core software mission capabilities include mission management, advanced data processing, cyber, artificial intelligence and machine learning, edge computing, modeling and simulation, and space engineering.
The company generates approximately $12 billion in annual revenue and employs nearly 43,000 people.

Feb 10, 2026, 12:45 PM

Press Release

Jacobs selected to design one of the world’s largest coastal gate systems

New Projects/Investments

Jacobs was chosen by the Gulf Coast Protection District to lead engineering design of the Bolivar Roads Gate System, a central element of the Coastal Texas Project along the Texas Gulf Coast.
The barrier will protect over 6 million residents and safeguard $800 billion in regional assets while maintaining operations on the Houston Ship Channel.
Backed by nearly $1 billion in state funding, the Coastal Texas Project is a partnership with the U.S. Army Corps of Engineers and the Texas General Land Office.
Jacobs brings expertise from more than 1,000 global resilience projects, with approximately $12 billion in annual revenue and 43,000 employees.