Demand and volumemixed · 5 filings
“Backlog declined in the 2026 Period due to the execution pace exceeding new award activity.”10-Q · Aug 7, 2026 ↗
Fluor Corporation
FLR
Market read
Fluor Corporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Company-4.3% todayVolume comparison unavailable
Market group0 of 17 activeSemiconductors · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- FLR's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if FLR's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- FLR's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations326
Usable filing statements145
Verified relationships11
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -5.0% year over year.
- Operating margin changed -5.3 percentage points in the latest annual period.
- Net margin changed -13.5 percentage points in the latest annual period.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
Questions before a position
- EV/sales is 50% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 9, 2026
54.846m+22.0%12m+34.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$14.2B-10.3%—+0.0%
2022-12-31$13.7B-2.9%$0.73+2.8%
2023-12-31$15.5B+12.6%$0.54+5.5%
2024-12-31$16.3B+5.4%$12.30+13.7%
2025-12-31$15.5B-5.0%$-0.31-5.7%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsmixed · 5 filings
“G&A 3ME June 30, 6ME June 30, (in millions) 2026 2025 2026 2025 G&A Compensation $ 29 $ 27 $ 75 $ 50 Facilities 3 1 8 1 Legal & professional fees 3 7 5 9 Reserve for legacy legal claims 2 4 4 4 Severance and restructuring costs 1 10 3 13 Other 3 3 8 11 G&A $…”10-Q · Aug 7, 2026 ↗
Legal and regulatory exposurenegative · 2 filings
“Segment profit and profit margin declined during the 2026 Period primarily due to the recognition of a $98 million charge during the first quarter of 2026, resulting from the outcome of a court ruling on a lawsuit filed against us in 2013.”10-Q · Aug 7, 2026 ↗
Macroeconomic conditionsnegative · 1 filings
“Segment profit declined in 2024 primarily due to the initial recognition of inflation-adjusted variable consideration on certain downstream projects during 2023.”10-K · Feb 17, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.6× · EV/sales 0.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
54.15-4.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 10:25 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FLR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FLR. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FLR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BLFBYFiling-linked namesupplierAug 1, 2025 ▾
“Taking into account expected contributions by PLC’s subcontractors, Balfour and insurers, we recognized an $ 84 million impact to earnings in the first quarter of 2025 to reduce the net liability to the ultimate settlement amount, inclusive of expected insura…”
SMRNuScale Power CorporationinvesteeNov 7, 2025 ▾
“During the 2025 Quarter, we converted 15 million of our NuScale voting shares (along with the associated ownership units in NuScale's operating subsidiary) into registered shares.”
Depended on by
SMRNuScale Power CorporationsupplierFeb 26, 2026 ▾
“NuScale has supported their scope of this FEED Phase 2 as a subcontractor to Fluor.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 9 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FLR is currently a Follower in the organic co-movement group Semiconductors. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.