Jacobs Solutions Inc

J: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$221.00	Ckgn	Qnypnbht

Jacobs Earnings: We Expect Strong Backlog To Drive Revenue Growth and Margin Expansion

Krzysztof Smalec

Aug 8, 2023

While nothing in Jacobs’ fiscal third-quarter earnings release materially alters our long-term outlook for the firm, we’ve slightly increased our fair value estimate to $156 from $155, mostly due to time value of money. The planned separation of the critical missions solutions business remains on pace to be completed in fiscal 2024. We view the name as moderately undervalued, with shares currently trading in 4-star territory.

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