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What we know about this company
Open this Idea →KBR, Inc.
Watching · below 8/10
our belief 6/10 · confidence score 67/100
Our longer-term business view, not a prediction for this week.
May rise over the next year. Open for the simple explanation.
Why we are waiting
Our belief is below the 8/10 level needed for a strong Idea.
Next check: Keep it in background research until our belief reaches 8/10.
Research conviction is below the 8/10 level needed for a high-conviction idea. Whether Form 10 and investor materials disclose standalone economics strong enough for a sum-of-the-parts re-rating.
The research view is still too uncertain at 6/10 to treat this as a current opportunity.
View unchanged Sep 2, 2026 · research strength 6/10 — full saved wording is in the research history
$36.59
last session
Quarterly results window begins in 39 days · Oct 21 – Nov 10 · Range not confirmed
KBR does two very different things and is about to split into two companies. One half does high-tech work for the U.S. government and military — national security, space, engineering, logistics — using about 20,000 mostly security-cleared employees; that half will be spun off in January 2027 as a separate company called Trinzic. The other half, keeping the KBR name, licenses patented chemical recipes and know-how to industrial plants and collects steady fees for it. Together they make money today: the company expects about $8 billion in sales this year and roughly $4 a share in profit, and the stock is around $38. The one thing that has to go right is the split unlocking value — two focused companies should be worth more than one muddled one, and a record pile of booked-but-not-yet-delivered work ($23 billion) has to actually turn into sales. The one thing that could go wrong is the cash: profit looks fine but actual cash coming in dropped sharply this year, debt is high, and Trinzic could start life carrying a heavy loan.
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Aug 20, 2026
At 6/10 this is below the 8/10 level required to publish it as a strong Idea. The research is still saved:
A reasonably priced (~9–10x earnings) sum-of-the-parts-plus-catalyst story with a hard January 2027 spin date, record backlog and insider buying, offset by a cash-flow slump and a debt-heavy spinco. Genuinely interesting at conviction 6 — worth explaining, not yet worth pitching above the bar.
No company checks yet for KBR.
The open Idea research history is on the idea page.
A company check will appear here after the next scheduled review.
1 check left
Current active Idea · Record saved Aug 11, 2026 · check date unavailable. The original research wording and date checks stay available inside.
These events and risks belong to TickerYou’s current Idea.
An event can change what investors believe. A risk shows how our research could be wrong. The countdown is to the start of a window, not a promised event day.
Watch for a company announcement that confirms, narrows, moves, or cancels this window.
Computed by TickerYou from 1254 completed daily closing sessions supplied by Yahoo Finance, through Sep 10, 2026. The Sep 11, 2026 quote-session candle was excluded because a delayed feed cannot prove it was final. No company fundamentals enter this reading.
The price has been trending down across both the medium and longer term.
Price movement can help with timing and can warn when the market disagrees with our Idea. It does not tell us what the business is worth.
Watch whether the close can recover above the 50-session average at $36.84; the 200-session average at $38.21 is the slower reference.
Last closing price
$36.45
Sep 10, 2026
Average price over 20 trading days
$37.54
Close is 2.9% below this average
Average price over 50 trading days
$36.84
Close is 1.1% below this average
Average price over 200 trading days
$38.21
Close is 4.6% below this average
Recent price speed
44.4 · balanced
A 14-day speed reading; lower than 30 is low and higher than 70 is high
Is the trend speeding up?
Below signal
Shows whether the shorter trend is pulling ahead of or behind the longer one
The moving averages are simple averages over exactly 20, 50, and 200 daily trading sessions. RSI uses Wilder's 14-session smoothing; a flat series is neutral at 50. MACD uses 12- and 26-session exponential averages with a 9-session signal. A window is never shortened when history is missing. Every comparison uses the final dated daily close—not an intraday quote—so all figures share one observation boundary. A candle dated to an active delayed-quote session is excluded because it may still be changing. These are trend and momentum references, not a Buy/Sell score.
Each quarter is named by the fiscal quarter the company itself reported — the label its release used and its consensus estimate was quoted against — and by the month that quarter ended, taken from the filer's own XBRL period boundaries. A fiscal year need not follow the calendar, so Apple's Q2 runs January to March; naming the quarter end keeps that true in both calendars, and no quarter number is ever inferred from a date. Quarterly financials beside this card names the same quarter the same way. TickerYou takes the figures from the release and its filing; every word, sign and percentage is calculated by the app from those stored numbers. A post-release reaction appears only with the stored first-close measurement stamp; otherwise the card says the window is not established and computes no divergence. EPS here is on the basis consensus quotes — adjusted for most US names — so it can legitimately differ from the GAAP figure in Quarterly financials. Rows marked [backfilled] were confirmed from archived coverage after the fact — a lower evidence tier than live capture, and labelled so.
Q2 FY2026 · Jul 2026: EPS beat the stored consensus estimate, while revenue beat the stored consensus estimate. No post-release price reaction is asserted because its stamped measurement window is not established.
A surprise shows how the release differed from expectations, not whether the business is good or the thesis is right. The price reaction shows repricing, not its cause.
Watch whether the next comparable release confirms the result; one beat or market move does not establish a durable trend.
Quarter ended Jul 3, 2026 · Reported Jul 30, 2026 · stock move after results · not shown
[backfilled] KBR delivered adjusted EPS of $0.99 (up 9% YoY) on revenue of $1.98B (up 2% YoY), with adjusted EBITDA margin expanding 60 bps to 13.0% and bookings of $1.8B at 1.1x book-to-bill; the company reaffirmed full-year adjusted EPS guidance of $3.87–$4.22, though shares were pressured by investor uncertainty surrounding the planned Trinzic government-services spin-off.
Quarter ended Apr 3, 2026 · Reported May 5, 2026 · stock move after results · not shown
[backfilled] Adjusted diluted EPS of $0.96 topped the $0.92 consensus on both dimensions; reported revenue of $1.923B cleared the $1.88B estimate despite a ~5% year-over-year decline driven by expected EUCOM contingency runoff, while margins expanded and management held full-year 2026 adjusted EPS guidance of $3.87–$4.22.
Quarter ended Jan 2, 2026 · Reported Feb 26, 2026 · stock move after results · not shown
[backfilled] Margin expansion in mission tech drove an adjusted EBITDA margin of 12.6% (up from 10.7%), more than offsetting a revenue shortfall caused by NASA funding restrictions and procurement delays; management issued 2026 guidance implying annual revenue above $8 billion.
Quarter ended Oct 3, 2025 · Reported Oct 30, 2025 · stock move after results · not shown
[backfilled] Adjusted EPS of $1.02 (up 21% YoY) cleared the Street while revenue of $1.93B came in light; the company trimmed full-year revenue guidance to $7.75B–$7.85B from $7.9B–$8.1B citing US government shutdown delays, even as record backlog hit $23.4B with a 1.4x book-to-bill.
Computed from SEC filings — never model output. Each quarter is named by the fiscal quarter the company itself reported and the month that quarter ended, through the same resolver the Earnings card beside this one uses; where no release established a fiscal label, the quarter is named by its end alone rather than by a quarter number guessed from the date. EPS is GAAP diluted, as filed, so it can legitimately differ from the adjusted figure in the Earnings card (consensus is quoted adjusted). Y/Y compares the same fiscal quarter a year earlier; a comparison that cannot be made honestly is an em-dash that says why.
Q2 FY2026 · Jul 2026: Revenue grew 1.6% year over year.
Comparing the same fiscal quarter a year earlier controls for seasonality. Revenue direction and margin direction together show whether sales are translating into profit, but one quarter is evidence—not a complete thesis.
Watch whether the next comparable quarter confirms both the sales direction and the margin direction.
Three checks use SEC filings alone. The net-buyback check requires matching stated filing and quote currencies, a compatible single-ticker SEC share-unit receipt, and a dated provider quote; its row explains any refusal. One dated deep-review judgement is marked researched; missing checks are excluded, never treated as zero.
A score requires both core checks — what the share count did and pay in stock versus revenue — plus at least one other established check. Missing core check: pay in stock, vs revenue.
A company can grow while each shareholder owns a smaller slice. Share issuance and stock pay can offset part of the business gain.
Establish the missing core check first; other unestablished checks: buybacks net of new stock sold; room left under the charter.
Complete SEC 13F filings only. These delayed reports show filed share amounts, not a manager’s full portfolio, intent, or a proven trade.
3 of 14 recent complete filings report ordinary shares. Compared with the prior report: 1 with more shares and 2 with fewer shares.
A large, repeated position can support a research story, but these filings arrive late and do not show an investor’s full portfolio or reason for owning the stock.
Look for the same investor to keep a meaningful position across several reports.
No numeric score or recommendation is made from these delayed filings. They are one piece of background evidence, not a buy or sell signal.
14 current complete filings of 16 tracked managers. 2 investors have only an older filing and are left out of this current view. Current holding dates span Mar 31, 2026 to Jun 30, 2026.
| (USD) | Q2 FY2026Quarter ended Jul 2026 | vs last year |
|---|---|---|
| Revenue | $1.98 B | |
| Profit after costs | — | — |
| Profit per share | 0.75 | |
| Profit margin | — | — |
† derived: the fiscal year minus its three reported quarters — no 10-K reports a Q4 figure directly. For EPS this assumes per-share figures add across the year.
| Quarter | Revenue | Y/Y | Net income | Margin |
|---|---|---|---|---|
| Q1 FY2026 · Apr 2026 | $1.92 B | — | — | |
| Q4 FY2025 · Jan 2026 | $1.89 B † | — | — | |
| Q3 FY2025 · Oct 2025 | $1.93 B | — | — | |
| Jul 2025 | $1.95 B | — | — | |
| Apr 2025 | $2.02 B | — | — | |
| Jan 2025 | $2.11 B † | — | — | |
| Sep 2024 | $1.94 B | — | — | |
| Jun 2024 | $1.85 B | — | — |
KBR is 0.03% of Bridgewater Associates's disclosed portfolio ($6.50 M). Holdings as of Jun 30, 2026. Reported in 4 consecutive quarters.
KBR is 0.03% of Renaissance Technologies's disclosed portfolio ($19.15 M). Holdings as of Jun 30, 2026. Reported in all 6 quarters we can see.
KBR is 0.00% of Citadel Advisors's disclosed portfolio ($21.13 M). Holdings as of Jun 30, 2026. Reported in all 2 quarters we can see.
Market-neutral / multi-strategy: Citadel often reports shares, calls, and puts at the same time. These rows show reported exposure, not a simple bullish or bearish bet.
Citadel Advisors (Ken Griffin) reports a CALL option ($1.24 M). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
Citadel Advisors (Ken Griffin) reports a PUT option ($2.61 M). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
1 newly or higher reported, 2 lower reported. Reported amounts only; corporate actions are not normalized.
Reported by 3 of 14 managers with a current filing; at least 0.5% of disclosed 13F value for 0.
Largest reported position: Bridgewater Associates (Ray Dalio) at 0.03% of disclosed 13F value ($6.50 M).
Across 6 quarters of stored filings: 7 newly or higher comparisons, 4 lower or absent, 0 unchanged, across 3 managers. Corporate actions are not normalized.
No numeric score is shown: filing comparisons are not adjusted for splits or other corporate actions, so reported changes cannot be treated as trades.
13Fs can arrive up to 45 days after quarter end. They omit short positions, cash, and securities outside the SEC's 13(f) list. Higher, lower, new, and absent describe filed share amounts, not proven purchases or sales; splits and other corporate actions are not normalized. This is context for a thesis, never a call by itself.
1M
3M
6M
1Y
Computed from SEC filings — never model output. Blank means it cannot be computed honestly.
Revenue fell 3.6% versus the comparable filing period, while operating margin was 9.5%.
Revenue shows whether demand is expanding, while operating and free-cash-flow margins show how much of those sales becomes profit and cash. Net cash or debt affects how resilient that result is.
Watch whether the next comparable filing reverses the revenue decline without weakening operating or cash-flow margins.
Every figure comes from an SEC filing and carries the day it was measured. Nothing here is estimated.
The filed share count decreased 2.15% over roughly a year. Each remaining share represents a larger percentage ownership slice; that alone does not prove repurchases created value.
A lower count lets each remaining share participate in more of the company, but value still depends on what the company paid and whether new issuance offsets the reduction.
Watch whether the count keeps falling and whether repurchases exceed new issuance. The cover-page counts establish direction, not the cause.
126.07 M
total shares when last reported · Jul 22, 2026 · 52 days ago
Available tradable shares — not established.The whole bar is the total supply, undivided.
The SEC’s structured data establishes the total share count but carries no count of the shares structurally excluded from ordinary trading. Control and affiliate holdings, restricted stock and locked-up shares are disclosed publicly — in proxy statements, prospectuses and 8-Ks — as prose with no tag to read them from, and have not been researched into a figure this card can pair with the total above.
Share count decreased 2.15% — ownership slice improved: each remaining share owns a larger percentage of the company.
Both counts in full, exactly as each cover page printed them, and both bars measured from zero against the larger — so a small move looks small.
Not researched yet. Release dates, tranche sizes, the shares issued at IPO and the insider breakdown are prose in the prospectus and in 8-Ks, with no XBRL tag to read them from. They appear here once TickerYou research can quote the source clause behind each figure—never estimated in the meantime.
-2.2% between the 2025-07-23 and 2026-07-22 filing cover pages.
the two figures cover different periods, and a ratio across mismatched periods would be invented
the two sides cover different periods
The deep review’s dated judgement (published Aug 20, 2026; evidence cutoff unavailable): how much of a 1% ownership slice at that review could survive through its horizon.
authorized shares are measured on 2026-07-03 while outstanding shares are measured on 2026-07-22; different dates cannot establish current headroom
review saved Aug 20, 2026 · check date unavailable
Insiders own only about 1.15% of KBR, so management's slice is small — but they have been buying, not selling: three directors and the CFO bought shares in the open market in May 2026 (director Sabater 14,500 shares at $32.47, director Von Thaer 3,000, CFO Evans 8,375). The company has been shrinking its share count, with buybacks cutting shares by roughly 3.8% over the past year, and it pays a modest dividend (~1.8%). There is no sign of a plan to sell new stock to raise money. The main pressure on the balance sheet is debt (~$2.55B), not share issuance. For a long-term holder that means your slice is slowly growing, not shrinking — the risk here is the loan load on the spun-off company, not dilution.
A conditional model using SEC filings and a delayed-market quote from Yahoo Finance for the Sep 11, 2026 session. It is not a market forecast or analyst consensus.
At today’s price, this simple model needs sales to grow about -6% each year for three years.
A high number means the company must grow quickly to justify today's price. A low number gives the business more room to disappoint.
Watch sales growth and operating profit. If either changes, this required-growth number can change too.
At today's price, the whole operating business is valued at $6.9B after debt and cash. Under this simple model, the price only adds up if sales grow ≈-6% a year for the next 3 years while operating profit stays near 10% of sales. This is a simple test, not a prediction.
The earlier review did not establish a usable sales-growth range. review saved Aug 20, 2026 · check date unavailable.
The model: value the business in 3 years at 15× that year's operating income (the latest reported margin held constant), discount back at 10% a year, and solve for the revenue growth that makes it equal the quoted enterprise value. The three constants are fixed across every company — deliberately crude, so the figure means the same thing everywhere. It cannot price pre-profit names, ignores margin change and buybacks, and treats the exit multiple as settled; read it as a yardstick, not a valuation.
Mechanical sensitivity · not forecasts
measured Jul 4, 2025, 14 months ago — from the 10-K filed Feb 26, 2026
Market value of shares held by non-affiliates under the SEC filing definition. This is a dollar amount, not a share count. It is never converted into one to fill the line above.
≈7.5%/yr
at 10× exit
≈-6.1%/yr
at 15× exit
≈-14.7%/yr
at 20× exit
A lower exit value requires more growth. This range exposes how strongly the result depends on one assumption; it does not predict where the stock will trade.