MEDIUMOutside partyCustomer
50%
government entities
“10-K Item 1A: 'approximately 50% and 46%, respectively, of our revenue was derived from contracts with government entities'”
ACM · Concentration risk · 10-K extracted
AECOM (ACM) concentration risks
Updated
The most significant concentration AECOM discloses is government entities at 50%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: AECOM’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
27%
non-U.S. clients
“10-K Item 1A: 'revenue attributable to our services provided outside of the United States to non-U.S. clients was approximately 27% of our total revenue'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24AECOM's concentration profile spans two dimensions — customer type and geography — both at moderate disclosed shares. Approximately 50% of revenue was derived from contracts with government entities in the most recent period disclosed, a moderate-share exposure whose character is one of dependency on public-sector budget cycles, procurement rules, and policy priorities rather than the commercial dynamics of a diversified private-sector client base. Government work tends to be sticky in aggregate but is subject to sequestration, continuing resolutions, and shifting program priorities, any of which can delay or reduce contract spending. Geographic exposure is more limited in scale: revenue attributable to services provided outside of the United States to non-U.S. clients was approximately 27% of total revenue, a moderate international share whose character is structural — it reflects where global infrastructure and government investment needs sit rather than reliance on a single country or region. The filing does not identify a specific country concentration within this international share, suggesting the exposure is diffuse across multiple markets. The interaction of the two disclosures is noteworthy: a substantial portion of international revenues likely also derives from government clients, meaning the dependency on public-sector decision-making may be even more pervasive than the domestic 50% figure suggests when international government contracts are included. There are no disclosed product, supplier, or individual-client concentrations. The dominant risk to monitor is the pace and composition of government infrastructure spending — both in the U.S. and across the international markets where AECOM operates — as the primary lever through which concentration risk translates to revenue variability.
For the engine’s reasoning on ACM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Engineering & Construction
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACA | Arcosa, Inc. | 1 | 1 | 1 | 3 |
| AGX | Argan, Inc. | 1 | 0 | 3 | 4 |
| ACM● | AECOM | 0 | 2 | 0 | 2 |
| BLD | TopBuild Corp. | 0 | 1 | 0 | 1 |
| CDNL | Cardinal Infrastructure Group I | 0 | 1 | 0 | 1 |
| APG | APi Group Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.