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Side-by-side financial comparison of FLUOR CORP (FLR) and PARSONS CORP (PSN), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
FLUOR CORP is the larger business by last-quarter revenue ($4.2B vs $1.6B, roughly 2.6× PARSONS CORP). PARSONS CORP runs the higher net margin — -37.7% vs 3.5%, a 41.1% gap on every dollar of revenue. On growth, FLUOR CORP posted the faster year-over-year revenue change (-2.0% vs -7.5%). PARSONS CORP produced more free cash flow last quarter ($135.6M vs $-378.0M). Over the past eight quarters, FLUOR CORP's revenue compounded faster (5.7% CAGR vs 2.2%).
Fluor Corporation is an American engineering and construction firm, headquartered in Irving, Texas. It is a holding company that provides services through its subsidiaries in three main areas: oil and gas, industrial and infrastructure, government and power. It is the largest publicly traded engineering and construction company in the Fortune 500 rankings and is listed as 265th overall.
Parsons Corporation is an American multinational technology-focused defense, intelligence, and infrastructure engineering firm. Founded in 1944, Parsons is headquartered in Chantilly, Virginia, and serves both government and private sector organizations in more than 30 countries.
FLR vs PSN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.2B | $1.6B |
| Net Profit | $-1.6B | $55.6M |
| Gross Margin | 3.2% | 23.0% |
| Operating Margin | 1.3% | 6.6% |
| Net Margin | -37.7% | 3.5% |
| Revenue YoY | -2.0% | -7.5% |
| Net Profit YoY | -184.4% | -72.4% |
| EPS (diluted) | $-9.40 | $0.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $4.2B | $1.6B | ||
| Q3 25 | $3.4B | $1.6B | ||
| Q2 25 | $4.0B | $1.6B | ||
| Q1 25 | $4.0B | $1.6B | ||
| Q4 24 | $4.3B | $1.7B | ||
| Q3 24 | $4.1B | $1.8B | ||
| Q2 24 | $4.2B | $1.7B | ||
| Q1 24 | $3.7B | $1.5B |
| Q4 25 | $-1.6B | $55.6M | ||
| Q3 25 | $-697.0M | $64.1M | ||
| Q2 25 | $2.5B | $55.2M | ||
| Q1 25 | $-241.0M | $66.2M | ||
| Q4 24 | $1.9B | $201.3M | ||
| Q3 24 | $54.0M | $72.0M | ||
| Q2 24 | $169.0M | $69.2M | ||
| Q1 24 | $59.0M | $-107.4M |
| Q4 25 | 3.2% | 23.0% | ||
| Q3 25 | -13.3% | 22.2% | ||
| Q2 25 | 1.4% | 22.0% | ||
| Q1 25 | 3.5% | 22.8% | ||
| Q4 24 | 4.9% | 21.3% | ||
| Q3 24 | 2.1% | 19.9% | ||
| Q2 24 | 4.2% | 21.0% | ||
| Q1 24 | 2.7% | 21.2% |
| Q4 25 | 1.3% | 6.6% | ||
| Q3 25 | -14.7% | 6.7% | ||
| Q2 25 | -0.7% | 6.0% | ||
| Q1 25 | 2.3% | 7.0% | ||
| Q4 24 | 4.4% | 5.8% | ||
| Q3 24 | 1.2% | 6.4% | ||
| Q2 24 | 4.2% | 6.7% | ||
| Q1 24 | 1.4% | 6.6% |
| Q4 25 | -37.7% | 3.5% | ||
| Q3 25 | -20.7% | 4.0% | ||
| Q2 25 | 61.8% | 3.5% | ||
| Q1 25 | -6.1% | 4.3% | ||
| Q4 24 | 43.7% | 11.6% | ||
| Q3 24 | 1.3% | 4.0% | ||
| Q2 24 | 4.0% | 4.1% | ||
| Q1 24 | 1.6% | -7.0% |
| Q4 25 | $-9.40 | $0.51 | ||
| Q3 25 | $-4.30 | $0.59 | ||
| Q2 25 | $14.81 | $0.50 | ||
| Q1 25 | $-1.42 | $0.60 | ||
| Q4 24 | $10.68 | $1.85 | ||
| Q3 24 | $0.31 | $0.65 | ||
| Q2 24 | $0.97 | $0.63 | ||
| Q1 24 | $0.34 | $-1.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.2B | $466.4M |
| Total DebtLower is stronger | — | $1.2B |
| Stockholders' EquityBook value | $3.2B | $2.6B |
| Total Assets | $8.2B | $5.8B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $2.2B | $466.4M | ||
| Q3 25 | $2.8B | $422.6M | ||
| Q2 25 | $2.3B | $411.3M | ||
| Q1 25 | $2.5B | $269.7M | ||
| Q4 24 | $3.0B | $453.5M | ||
| Q3 24 | $3.0B | $558.8M | ||
| Q2 24 | $2.7B | $528.5M | ||
| Q1 24 | $2.4B | $423.1M |
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $785.2M | ||
| Q4 24 | — | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $3.2B | $2.6B | ||
| Q3 25 | $5.2B | $2.6B | ||
| Q2 25 | $5.9B | $2.5B | ||
| Q1 25 | $3.6B | $2.5B | ||
| Q4 24 | $3.9B | $2.4B | ||
| Q3 24 | $2.3B | $2.3B | ||
| Q2 24 | $2.1B | $2.2B | ||
| Q1 24 | $2.0B | $2.1B |
| Q4 25 | $8.2B | $5.8B | ||
| Q3 25 | $11.5B | $5.7B | ||
| Q2 25 | $11.8B | $5.7B | ||
| Q1 25 | $8.4B | $5.4B | ||
| Q4 24 | $9.1B | $5.5B | ||
| Q3 24 | $7.1B | $5.4B | ||
| Q2 24 | $6.8B | $5.2B | ||
| Q1 24 | $6.7B | $5.1B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-366.0M | $167.5M |
| Free Cash FlowOCF − Capex | $-378.0M | $135.6M |
| FCF MarginFCF / Revenue | -9.1% | 8.5% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.3% | 2.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 3.01× |
| TTM Free Cash FlowTrailing 4 quarters | $-437.0M | $410.4M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-366.0M | $167.5M | ||
| Q3 25 | $286.0M | $162.8M | ||
| Q2 25 | $-21.0M | $159.8M | ||
| Q1 25 | $-286.0M | $-11.8M | ||
| Q4 24 | $327.0M | $126.8M | ||
| Q3 24 | $330.0M | $299.0M | ||
| Q2 24 | $282.0M | $161.2M | ||
| Q1 24 | $-111.0M | $-63.4M |
| Q4 25 | $-378.0M | $135.6M | ||
| Q3 25 | $273.0M | $149.7M | ||
| Q2 25 | $-35.0M | $150.4M | ||
| Q1 25 | $-297.0M | $-25.3M | ||
| Q4 24 | $296.0M | $108.0M | ||
| Q3 24 | $279.0M | $287.3M | ||
| Q2 24 | $234.0M | $152.0M | ||
| Q1 24 | $-145.0M | $-72.9M |
| Q4 25 | -9.1% | 8.5% | ||
| Q3 25 | 8.1% | 9.2% | ||
| Q2 25 | -0.9% | 9.5% | ||
| Q1 25 | -7.5% | -1.6% | ||
| Q4 24 | 6.9% | 6.2% | ||
| Q3 24 | 6.8% | 15.9% | ||
| Q2 24 | 5.5% | 9.1% | ||
| Q1 24 | -3.9% | -4.7% |
| Q4 25 | 0.3% | 2.0% | ||
| Q3 25 | 0.4% | 0.8% | ||
| Q2 25 | 0.4% | 0.6% | ||
| Q1 25 | 0.3% | 0.9% | ||
| Q4 24 | 0.7% | 1.1% | ||
| Q3 24 | 1.2% | 0.6% | ||
| Q2 24 | 1.1% | 0.6% | ||
| Q1 24 | 0.9% | 0.6% |
| Q4 25 | — | 3.01× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | -0.01× | 2.89× | ||
| Q1 25 | — | -0.18× | ||
| Q4 24 | 0.18× | 0.63× | ||
| Q3 24 | 6.11× | 4.16× | ||
| Q2 24 | 1.67× | 2.33× | ||
| Q1 24 | -1.88× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
