Fluor Corporation (FLR) Stock Price & How to Invest

Fluor Corporation is one of the largest engineering, procurement, and construction (EPC) firms in the world. The company provides design and construction services for large industrial projects across energy, chemicals, mining, infrastructure, government, and increasingly clean energy and advanced manufacturing. Fluor typically operates as the lead EPC contractor on multi-billion-dollar projects, coordinating engineering, equipment procurement, and construction execution.

Key end markets include LNG export terminals, petrochemical complexes, mining facilities, government installations (Hanford nuclear cleanup, DoE work), advanced reactor projects (Fluor holds a large stake in NuScale Power, the small modular reactor developer), and infrastructure. The company has been working through a multi-year strategic refocus on more predictable, lower-risk reimbursable contracts after several lump-sum project losses in earlier years. Founded in 1912, headquartered in Irving, Texas. David Constable has been CEO since 2021.

Recent results have been uneven. Fluor reported net losses of about $697 million in the third quarter of 2025 and about $1.57 billion in the fourth, leaving trailing twelve-month net income near negative $2 billion on revenue of about $15.5 billion. Operating margin stayed positive at roughly 3%, so the gap sits mostly below the operating line. The two 2026 quarters returned to profit ($160 million and $114 million). In the second quarter, revenue of $4.33 billion rose about 9% from a year earlier and adjusted EPS of $0.91 beat the $0.70 consensus, after a first-quarter miss ($0.14 vs $0.62). Fluor booked $6.1 billion of new awards in the quarter and ended it with $26.9 billion of backlog. In late September a 50/50 Fluor-JGC joint venture was selected to build LNG Canada Phase 2 in Kitimat, British Columbia; Fluor expects to book its $7.5 billion share in the third quarter.

Large EPC projects carry execution risk that has historically been disruptive to earnings, and the roughly $2 billion trailing net loss shows how far reported profit can swing. A large new LNG award raises the stakes on executing it on budget. NuScale's commercial path is uncertain and SMR stocks have been volatile. Energy transition policy reversals or delays can affect project pipelines. The stock fell about 14% in the month to October 16, 2026, ahead of the November 6 report.

8 analysts publish price targets on FLR, averaging $61.56 against a $46.95 price as of October 2026, or +31.1%. The published targets run from $50.00 to $71.00, a moderate spread, and the ratings split 4 buy, 5 hold, 0 sell. Over the last six months there have been 7 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full FLR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Fluor Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Strategic refocus and risk discipline. Management has prioritized reimbursable and cost-plus contracts (lower risk) over fixed-price work where execution risk lies with the contractor. The most optimistic published target, $71.00, assumes this works close to its best case.

The case against. Large EPC projects carry execution risk that has historically been disruptive to earnings, and the roughly $2 billion trailing net loss shows how far reported profit can swing. The most pessimistic target, $50.00, is roughly what FLR is worth if this bites instead.

Read the full bull and bear case on FLR, including what would have to change to break either one. Walnut is not an investment adviser.

No. Fluor Corporation (FLR) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Fluor Corporation's investor relations page or your broker.

• Revenue (TTM): ~$15.5 billion (Q2 2026 up ~9% yoy)
• Operating margin: ~3% (thin, typical EPC)
• Net income (TTM): ~-$2 billion (two large loss quarters in late 2025)
• P/E (trailing / forward): n/a (loss) / ~14x
• Price to sales: ~0.4x
• Market cap: ~$6.4 billion
• Dividend yield: None (suspended in 2020, not restored)
• Backlog: ~$26.9 billion (end of Q2 2026, before LNG Canada Phase 2)

With a trailing net loss, Fluor trades on forward numbers: about 14x the 2027 consensus EPS of $3.38 and roughly 0.4x sales, with about $3.0 billion of cash against $1.1 billion of debt. The eight covering analysts have a mean target near $62, well above the $47.46 close, but the next print on November 6 (consensus EPS $0.79 on $4.28 billion of revenue) will show whether the 2026 recovery holds.

These are the investment theses FLR naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to FLR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get FLR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so FLR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where FLR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Fluor (FLR) is a turnaround-flavored EPC contractor whose earnings hinge on disciplined project execution, an LNG and energy-transition pipeline (now including its $7.5 billion share of LNG Canada Phase 2), and the uncertain commercial path of its NuScale Power stake. In a portfolio it behaves like a cyclical, sum-of-parts infrastructure-and-reshoring holding with no dividend, project-driven earnings volatility, a trailing net loss of about $2 billion that makes the trailing P/E meaningless, and embedded small modular nuclear exposure. The next test is third-quarter results on November 6, 2026. Walnut is not an investment adviser.

Whether FLR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FLR a buy or a sell?, and where the stock could go from here in the FLR stock forecast.

For income investors, whether FLR pays a dividend and how the payout looks is covered in does FLR pay a dividend? And to weigh FLR against a peer, read the full side-by-side comparisons: FLR vs VMC and FLR vs MLM.