KBR
KBR, Inc.

KBR, Inc.KBR

Industrials · Engineering & Construction
35.01USD
-2.04%
Sep 23, 2026
KBR overview ready
Government Mission Engineering and Digital Integration for Defense Modernization
KBR is a direct government-services contractor supplying life-cycle mission engineering, digital integration, analytics, cyber, space-domain and readiness support to U.S.
Strong narrative exposure
Exposed to the Defense Rearmament and Industrial Base narrative through Defense Digital Engineering, Integration and Mission Services — enabling supplier.
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to the cash the business actually produces.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on government contract budgets and timing.
Market Sep 22Price action Sep 22Research Sep 2

Conviction Level

NarrativeHeat8.3ThemeHeat7.5PriceAction3.4Valuation8.7CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$4.5B
Avg Volume (60D)
1.4M
60 sessions
Revenue Growth YoY
-4.4%
Trailing twelve months
Gross Margin
+14.5%
Operating Margin
+10.0%
Trailing twelve months
Free Cash Flow Yield
+6.3%
Distance from 200DMA
-7.0%
Next Earnings
2026-10-22
P/E
10.7x
EV / EBITDA
10.3x
EV / Sales
0.9x
Market metrics as of Sep 22, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is cheap.
KBR, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to the cash the business actually produces. It trades at a 6.3% free-cash-flow yield and 10.3x EBITDA, which the underlying economics comfortably support.

Company Research

Thesis
KBR is a direct government-services contractor supplying life-cycle mission engineering, digital integration, analytics, cyber, space-domain and readiness support to U.S. Allied defense, intelligence, space and aviation customers.
Opportunity
High opportunity
Defense and intelligence modernization spending on the engineering, systems integration, test, data, cyber, command-and-control, and mission-support services required to field and operate increasingly software-defined, space-enabled military capabilities.
Key risk
Dependence on government contract budgets and timing.

Narrative & Theme

Defense Rearmament and Industrial Base
Part of Defense Digital Engineering, Integration and Mission Services, with strong fit.
KBR has meaningful current revenue exposure to defense, intelligence and space mission modernization rather than merely generic industrial adjacency.
Narrative HeatHeating up8.3 / 10
Theme HeatHeating up7.5 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Industrials · Engineering & Construction
What they do

KBR, Inc. provides scientific, technology, and engineering solutions primarily to government and commercial customers worldwide, operating through Government Solutions and Sustainable Technology Solutions segments.

How it earns

Project-based contracts and service agreements with government and commercial clients.

Products & services
Research and development
Advanced prototyping
Systems engineering
Cyber analytics
Space domain awareness
Test and evaluation
Data analytics and integration
Systems integration and program management
Global supply chain management
Operations readiness and support
Professional advisory services
Customers & end markets
Government agencies
Commercial customers
Market position

Established engineering and technology solutions provider with a niche focus on government contracts and emerging sustainable technology markets.

Demand drivers
Medium cyclicality

Government contracts provide some stability, but commercial and technology segments are subject to market and budget fluctuations.