Jacobs Engineering Group Inc. (J) Cash Flow Statement
Where J’s cash came from and went, FY2025
September 30, 2025 · U.S. dollars- Cash from operations
- $686.7M −34.9% vs FY2024
- Capital expenditures
- $79.2M 0.7% of revenue
- Free cash flow
- $607.5M 5.0% margin
- Returned to shareholders
- $907.2M 149% of free cash flow
- Change in cash
- $88.6M cash at year-end $1.24B
Cash from operations
$686.7M
Capital expenditures
−$79.2M
Investments (net)
−$75.3M
Acquisitions & other
+$79.2M
Dividends
−$153.0M
Share buybacks (net)
−$754.1M
Net borrowing (repayment)
+$329.4M
Shares issued
+$34.7M
Other financing
+$17.8M
Change in cash
$88.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
J operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
J cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $680.2MFY2016 | $686.7MFY2025 | +0.1%/yr | |
| Capital expenditures | $77.7MFY2016 | $79.2MFY2025 | +0.2%/yr | |
| Free cash flow | $602.5MFY2016 | $607.5MFY2025 | +0.1%/yr | |
| Free cash flow margin | 5.5%FY2016 | 5.0%FY2025 | −0.4 pts | |
| Operating cash flow / net income | 3.17FY2016 | 0.90FY2025 | −2.27 | |
| Stock-based compensation | $32.4MFY2016 | $61.0MFY2025 | +7.3%/yr | |
| Dividends paid | $1.65BFY2016 | $153.0MFY2025 | −23.2%/yr | |
| Share buybacks (net) | $152.6MFY2016 | $754.1MFY2025 | +19.4%/yr | |
| Capex / revenue | 0.7%FY2016 | 0.7%FY2025 | −0.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
J cash flow by activity
OperatingInvestingFinancingChange in cash
J net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
J cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $759.0M | $852.6M | $719.7M | $715.4M | $430.8M | $523.9M | $873.2M | $173.1M | $287.4M | $214.5M |
| Depreciation & amortization | $237.6M | $308.7M | $307.3M | $301.1M | $250.8M | $181.6M | $169.3M | $198.6M | $122.5M | $130.0M |
| Stock-based compensation | $61.0M | $74.2M | $74.3M | $53.4M | $56.2M | $48.1M | $69.1M | $79.2M | $38.8M | $32.4M |
| Change in working capital | −$66.8M | $218.6M | −$103.8M | −$762.7M | −$95.7M | −$284.9M | −$492.8M | −$299.2M | $88.1M | $299.7M |
| Other non-cash items | −$304.0M | −$399.5M | −$22.6M | $167.5M | $84.1M | $338.1M | −$985.2M | $329.4M | $38.1M | $3.6M |
| Cash from operating activities | $686.7M | $1.05B | $974.8M | $474.7M | $726.3M | $806.8M | −$366.4M | $481.2M | $574.9M | $680.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$79.2M | −$121.1M | −$137.5M | −$127.6M | −$92.8M | −$118.3M | −$136.0M | −$94.9M | −$118.1M | −$77.7M |
| Investments (net) | −$75.3M | −$127.2M | −$145.7M | $16.9M | $416.3M | −$429.1M | $2.15B | −$5.4M | $31.7M | −$3.4M |
| Acquisitions & other investing | $79.2M | $121.1M | $137.5M | −$427.7M | −$1.70B | $118.3M | $136.0M | −$1.48B | −$149.8M | −$58.5M |
| Cash from investing activities | −$75.3M | −$127.2M | −$145.7M | −$538.4M | −$1.38B | −$429.1M | $2.15B | −$1.58B | −$236.2M | −$139.6M |
| Financing activities | ||||||||||
| Dividends paid | −$153.0M | −$142.8M | −$128.4M | −$115.9M | −$156.0M | −$144.0M | −$90.8M | −$81.9M | −$54.2M | −$1.65B |
| Share repurchases & issuance (net) | −$754.1M | −$402.7M | −$265.7M | −$281.9M | −$274.9M | −$337.3M | −$853.7M | −$3.0M | −$97.2M | −$152.6M |
| Net borrowing (repayment) | $329.4M | $374.9M | −$616.6M | $719.0M | $1.22B | $265.3M | −$1.04B | $1.21B | −$152.1M | −$202.1M |
| Shares issued | $34.7M | $47.5M | $47.8M | $51.0M | $38.1M | $37.2M | $65.0M | $53.6M | $0 | $0 |
| Other financing | $17.8M | −$628.6M | −$123.5M | −$51.9M | −$25.9M | −$29.6M | −$46.1M | −$35.8M | $61.0M | $1.69B |
| Cash from financing activities | −$525.2M | −$751.6M | −$1.09B | $320.2M | $799.0M | −$208.3M | −$1.97B | $1.14B | −$242.6M | −$317.0M |
| Summary | ||||||||||
| Net change in cash | $88.6M | $217.5M | −$224.8M | $127.6M | $164.2M | $231.4M | −$162.3M | $19.2M | $118.4M | $194.9M |
| Cash at end of period | $1.24B | $1.15B | $929.4M | $1.15B | $1.03B | $862.4M | $631.1M | $793.4M | $774.2M | $655.7M |
| Free cash flow | $607.5M | $933.6M | $837.3M | $347.1M | $633.5M | $688.6M | −$502.4M | $386.3M | $456.8M | $602.5M |
| Free cash flow margin | 5.0% | 8.1% | 7.7% | 3.5% | 4.5% | 5.1% | −3.9% | 2.6% | 4.6% | 5.5% |
| Capex / revenue | 0.7% | 1.1% | 1.3% | 1.3% | 0.7% | 0.9% | 1.1% | 0.6% | 1.2% | 0.7% |
| Operating cash flow / net income | 0.90 | 1.24 | 1.35 | 0.66 | 1.69 | 1.54 | −0.42 | 2.78 | 2.00 | 3.17 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $135.8M | −$88.4M | $133.7M | $122.2M | $187.8M | $12.4M | −$5.0M | $349.4M | $158.9M | $162.9M | $181.5M | $167.0M |
| Depreciation & amortization | $57.2M | $56.3M | $59.6M | $59.6M | $60.3M | $58.1M | $59.6M | $78.3M | $77.0M | $77.2M | $76.3M | $78.2M |
| Stock-based compensation | $18.5M | $21.1M | $17.3M | $13.5M | $13.1M | $21.3M | $13.1M | $20.0M | $19.0M | $15.9M | $19.3M | $18.4M |
| Change in working capital | $221.7M | −$501.1M | $164.4M | $232.1M | $108.5M | −$292.8M | −$97.7M | $59.0M | $273.1M | −$285.4M | $181.4M | $31.6M |
| Other non-cash items | $22.9M | $28.0M | $5.8M | −$44.4M | −$77.2M | $104.6M | $137.5M | −$310.2M | −$45.4M | −$13.3M | −$40.1M | −$75.8M |
| Cash from operating activities | $456.1M | −$484.1M | $380.8M | $383.1M | $292.6M | −$96.4M | $107.5M | $196.5M | $482.6M | −$42.8M | $418.4M | $219.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$25.1M | −$20.8M | −$15.8M | −$29.6M | −$22.1M | −$17.3M | −$10.3M | −$38.3M | −$37.7M | −$27.8M | −$17.3M | −$39.2M |
| Investments (net) | — | — | — | −$28.9M | −$22.0M | −$16.4M | −$7.9M | −$32.2M | −$37.7M | −$41.3M | −$16.0M | −$39.2M |
| Acquisitions & other investing | $28,000 | $4.9M | −$69,000 | $29.6M | $17.6M | $17.3M | $10.3M | $38.3M | $37.7M | $27.8M | $17.3M | $39.2M |
| Cash from investing activities | −$25.1M | −$15.9M | −$15.9M | −$28.9M | −$26.5M | −$16.4M | −$7.9M | −$32.2M | −$37.7M | −$41.3M | −$16.0M | −$39.2M |
| Financing activities | ||||||||||||
| Dividends paid | −$42.2M | −$42.6M | −$38.6M | −$38.2M | −$38.9M | −$39.4M | −$36.5M | −$36.3M | −$36.3M | −$36.8M | −$33.4M | −$32.7M |
| Share repurchases & issuance (net) | −$142.2M | −$219.8M | −$252.1M | −$100.9M | −$100.8M | −$350.8M | −$201.6M | −$56.3M | −$150.9M | −$95.4M | −$100.0M | −$145,000 |
| Net borrowing (repayment) | −$505.0M | $1.61B | $245.0M | −$260.0M | −$157.0M | $383.8M | $362.7M | $375.5M | — | — | — | −$278.0M |
| Shares issued | $9.0M | $9.5M | $7.7M | $9.2M | $8.3M | $9.2M | $8.0M | $12.1M | $12.8M | $11.3M | $11.4M | $9.7M |
| Other financing | −$46.7M | −$906.8M | −$21.5M | −$9.2M | $60.1M | −$8.3M | −$20.4M | −$554.1M | −$87.3M | $98.8M | −$86.7M | −$14.9M |
| Cash from financing activities | −$727.2M | $451.5M | −$59.4M | −$399.1M | −$228.4M | −$5.5M | $112.2M | −$259.1M | −$261.8M | −$22.1M | −$208.7M | −$316.1M |
| Summary | ||||||||||||
| Net change in cash | −$299.4M | −$65.5M | $317.1M | −$60.6M | $90.6M | −$95.0M | $153.5M | −$65.3M | $177.7M | −$122.7M | $227.8M | −$164.7M |
| Cash at end of period | $1.19B | $1.49B | $1.55B | $1.24B | $1.30B | $1.21B | $1.30B | $1.15B | $1.21B | $1.03B | $1.16B | $929.4M |
| Free cash flow | $431.0M | −$504.9M | $364.9M | $353.5M | $270.5M | −$113.7M | $97.1M | $158.2M | $444.9M | −$70.6M | $401.1M | $180.1M |
| Free cash flow margin | 10.6% | −13.7% | 11.1% | 11.2% | 8.9% | −3.9% | 3.3% | — | 15.4% | −2.5% | 14.3% | 4.2% |
| Capex / revenue | 0.6% | 0.6% | 0.5% | 0.9% | 0.7% | 0.6% | 0.4% | — | 1.3% | 1.0% | 0.6% | 0.9% |
| Operating cash flow / net income | 3.36 | — | 2.85 | 3.13 | 1.56 | −7.77 | — | 0.56 | 3.04 | −0.26 | 2.31 | 1.31 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
J cash generation
In fiscal 2025 (ended September 30, 2025), Jacobs generated $686.7 million of cash from operations (down 34.9%) and spent $79.2 million on capital expenditures, leaving free cash flow of $607.5 million, 5.0% of revenue. It returned $907.2 million to shareholders through dividends ($153.0 million) and net share buybacks ($754.1 million). Cash and equivalents rose by $88.6 million over the year.
Related: J income statement, J balance sheet, J dividend history. See the J stock overview for the latest quote and news.
J cash flow FAQ
What is Jacobs's free cash flow?
Jacobs's free cash flow was $607.5 million in fiscal 2025: $686.7 million of operating cash flow minus $79.2 million of capital expenditures It was $933.6 million a year earlier..
How much cash does Jacobs generate from operations?
Jacobs generated $686.7 million of cash from operating activities in fiscal 2025, 0.90 times its net income of $759.0 million.
How much does Jacobs spend on capital expenditures?
Jacobs spent $79.2 million on capital expenditures in fiscal 2025, 0.7% of revenue, compared with $121.1 million the year before.
How much stock does Jacobs buy back?
Jacobs spent $754.1 million on net share repurchases in fiscal 2025.
How much does Jacobs pay in dividends?
Jacobs paid $153.0 million in dividends in fiscal 2025, 25.2% of free cash flow.