AECOM Stock Falls 30% in the Past Six Months: Is a Rebound Ahead?

ACM shares have dropped 30.1% over the past six months, driven by project execution problems and a $337 million charge tied to subcontractor productivity delays. The engineering firm's cash generation has also weakened during the period, according to Zacks Investment Research.

The company holds a record backlog of $27.8 billion and projects earnings growth of 33.7% in fiscal 2027. Despite those fundamentals, analysts at Zacks recommend avoiding the stock until project execution and cash flow stabilize.

Near-term headwinds include geopolitical uncertainty and delays in government projects, both of which threaten to extend the pressure on margins and working capital. The stock currently trades at a discount to historical multiples, but the valuation gap has not been enough to outweigh execution risk in the eyes of sell-side analysts.