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Derivative Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025	Jun. 30, 2022
FY 2025 Fourth Quarter Acquisition
Derivative [Line Items]
Maximum value of contingent consideration issued			$ 17.7
Gain related to contingent consideration issued	$ 4.1
Equity investment
Derivative [Line Items]
Gain recorded representing increase in fair value	1.0
Credit facility investment
Derivative [Line Items]
Gain recorded representing increase in fair value		$ 5.0
Interest Rate Swap \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Material losses recognized in income	0.0	$ 0.0
Interest Rate Cap \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional value				$ 300.0
Fixed interest rate (as percent)				3.465%
Derivative, basis spread on variable rate (as percent)				3.465%
February 2023 \| United States of America, Dollars \| Interest Rate Swap \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional value	$ 400.0		$ 400.0
Fixed interest rate (as percent)	1.283%		1.283%

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Debt Instrument [Line Items]
Total debt	$ 2,738,500	$ 2,743,700
Less: Current portion of debt and short-term borrowings	(65,900)	(66,300)
Less: Unamortized debt issuance costs	(28,800)	(30,200)
Long-term debt	2,643,833	2,647,220
Credit Agreement
Debt Instrument [Line Items]
Total debt	1,438,200	1,439,900
2033 Senior Notes
Debt Instrument [Line Items]
Total debt	1,200,000	1,200,000
Other debt
Debt Instrument [Line Items]
Total debt	$ 100,300	$ 103,800

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivative Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2025

Derivative Financial Instruments and Fair Value Measurements [Abstract]

Schedule of Notional Principle, Fixed Rates and Expiration Dates of Outstanding Interest Rate Swap Agreements

The notional principal, fixed rates and related effective and expiration dates of the Company’s outstanding interest rate swap agreements were as follows:

December 31, 2025

Notional Amount
Currency

Notional Amount
(in millions)

Fixed
Rate

Effective
Date

Expiration
Date

USD

400.0

1.283%

February 2023

March 2028

September 30, 2025

Notional Amount
Currency

Notional Amount
(in millions)

Fixed
Rate

Effective
Date

Expiration
Date

USD

400.0

1.283%

February 2023

March 2028

Schedule of Financial Assets and Liabilities Recorded at Fair Value on a Recurring Basis

Below are the Company's non-pension financial assets and liabilities recorded at fair value on a recurring basis within the ASC 820-10 fair value hierarchy:


	December 31, 2025
	Balance Sheet Location	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Interest rate contracts	Other current assets	$	—	$	8.3	$	—	$	8.3
Interest rate contracts	Other non-current assets	—		8.8		—		8.8
Interest rate contracts	Other current liabilities	—		(2.2)		—		(2.2)
Interest rate contracts	Other long-term liabilities	—		(2.3)		—		(2.3)
Credit facility investment	Other non-current assets	—		—		23.0		23.0
Contingent Consideration	Other long-term liabilities	—		(3.4)		—		(3.4)
Equity investment	Other non-current assets	23.6		—		—		23.6
Total net assets at fair value		$	23.6	$	9.2	$	23.0	$	55.8

	September 30, 2025
	Balance Sheet Location	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Interest rate contracts	Other current assets	$	—	$	9.0	$	—	$	9.0
Interest rate contracts	Other non-current assets	—		10.0		—		10.0
Interest rate contracts	Other current liabilities	—		(1.8)		—		(1.8)
Interest rate contracts	Other long-term liabilities	—		(2.8)		—		(2.8)
Credit facility investment	Other non-current assets	—		—		17.4		17.4
Contingent Consideration	Other long-term liabilities	—		(7.5)		—		(7.5)
Equity investment	Other non-current assets	21.9		—		—		21.9
Total net assets at fair value		$	21.9	$	6.9	$	17.4	$	46.2

Schedule of Changes in Fair Value of Level 3 Investment Assets

The table below sets forth a summary of changes in the fair value of the Company's Level 3 investment assets:


	Three Months Ended December 31, 2025
	Beginning Balance		Investment Gains/(Losses)	Interest Earned	Loans	Collections	Ending Balance
Credit facility investment including accrued interest	$	17.4	(0.8)	0.4	6.0		$	23.0

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Pension Benefit Obligations - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2025 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Total amounts of employer contributions paid	$ 2.4
Expected remaining scheduled annual employer contributions for the current fiscal year	8.5
Int’l
Defined Benefit Plan Disclosure [Line Items]
Total amounts of employer contributions paid	6.4
Expected remaining scheduled annual employer contributions for the current fiscal year	$ 18.2

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

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- Definition

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+ Details

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Passed through costs included in revenue and cost of sales	$ 2,000.0	$ 2,200.0
Transaction price, allocated	19,400.0
Contract liabilities, revenue recognized	550.1	$ 623.5
Significant claims recorded in contract assets and other non-current assets	520.0		$ 400.0
Trade receivables sold with no financial and legal obligations	$ 347.5		$ 268.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation (as percent)	60.00%
Revenue, performance obligation expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, performance obligation expected timing of satisfaction period	2 years

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 93,352	$ 179,204
Other comprehensive income (loss), net of tax:
Net unrealized (loss) gain on derivatives, net of tax	(1,328)	9,139
Foreign currency translation adjustments	5,364	(105,961)
Pension adjustments, net of tax	1,049	14,311
Other comprehensive income (loss), net of tax	5,085	(82,511)
Comprehensive income, net of tax	98,437	96,693
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	(18,924)	(11,774)
Comprehensive income attributable to AECOM, net of tax	$ 79,513	$ 84,919

Joint Ventures and Variable Interest Entities

3 Months Ended

Dec. 31, 2025

Joint Ventures and Variable Interest Entities [Abstract]

Joint Ventures and Variable Interest Entities

The Company’s joint ventures provide architecture, engineering, program management, construction management, operations and maintenance services, and invest in real estate projects. Joint ventures, the combination of two or more partners, are generally formed for a specific project. Management of the joint venture is typically controlled by a joint venture executive committee, comprised of representatives from the joint venture partners. The joint venture executive committee normally provides management oversight and controls decisions which could have a significant impact on the joint venture.

Some of the Company’s joint ventures have no employees and minimal operating expenses. For these joint ventures, the Company’s employees perform work for the joint venture, which is then billed to a third-party customer by the joint venture. These joint ventures function as pass-through entities to bill the third-party customer. For consolidated joint ventures of this type, the Company records the entire amount of the services performed and the costs associated with these services, including the services provided by the other joint venture partners, in the Company’s result of operations. For certain of these joint ventures where a fee is added by an unconsolidated joint venture to client billings, the Company’s portion of that fee is recorded in equity in earnings of joint ventures.

The Company also has joint ventures that have their own employees and operating expenses, and to which the Company generally makes a capital contribution. The Company accounts for these joint ventures either as consolidated entities or equity method investments based on the criteria further discussed below.

The Company follows guidance on the consolidation of variable interest entities (VIEs) that requires companies to utilize a qualitative approach to determine whether it is the primary beneficiary of a VIE. The process for identifying the primary beneficiary of a VIE requires consideration of the factors that indicate a party has the power to direct the activities that most significantly impact the joint venture’s economic performance, including powers granted to the joint venture’s program manager, powers contained in the joint venture governing board and, to a certain extent, a company’s economic interest in the joint venture. The Company analyzes its joint ventures and classifies them as either:

•a VIE that must be consolidated because the Company is the primary beneficiary or the joint venture is not a VIE and the Company holds the majority voting interest with no significant participative rights available to the other partners; or

•a VIE that does not require consolidation and is treated as an equity method investment because the Company is not the primary beneficiary or the joint venture is not a VIE and the Company does not hold the majority voting interest.

As part of the above analysis, if it is determined that the Company has the power to direct the activities that most significantly impact the joint venture’s economic performance, the Company considers whether or not it has the obligation to absorb losses or rights to receive benefits of the VIE that could potentially be significant to the VIE.

Contractually required support provided to the Company’s joint ventures is further discussed in Note 15.

Summary of financial information of the consolidated joint ventures is as follows:


	December 31, 2025 (unaudited)		September 30, 2025
	(in millions)
Current assets	$	754.0	$	699.0
Non-current assets	81.8		84.4
Total assets	$	835.8	$	783.4

Current liabilities	$	636.3	$	591.4
Non-current liabilities	5.6		5.7
Total liabilities	641.9		597.1
Total AECOM deficit	(18.5)		(15.9)
Noncontrolling interests	212.4		202.2
Total owners’ equity	193.9		186.3
Total liabilities and owners’ equity	$	835.8	$	783.4

Total revenue of the consolidated joint ventures was $431.2 million and $443.7 million for the three months ended December 31, 2025 and 2024, respectively. The assets of the Company’s consolidated joint ventures are restricted for use only by the particular joint venture and are not available for the general operations of the Company.

Summary of unaudited financial information of the unconsolidated joint ventures, as derived from their unaudited financial statements, was as follows:


	December 31, 2025		September 30, 2025
	(in millions)
Current assets	$	1,557.5	$	1,537.7
Non-current assets	675.3		708.0
Total assets	$	2,232.8	$	2,245.7

Current liabilities	$	1,095.5	$	1,107.8
Non-current liabilities	113.0		92.4
Total liabilities	1,208.5		1,200.2
Joint ventures’ equity	1,024.3		1,045.5
Total liabilities and joint ventures’ equity	$	2,232.8	$	2,245.7

AECOM’s investment in unconsolidated joint ventures	$	146.5	$	138.1


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Revenue	$	768.7	$	727.7
Cost of revenue	731.8		691.6
Gross profit	$	36.9	$	36.1
Net income	$	35.4	$	36.8

Summary of AECOM’s equity in earnings of unconsolidated joint ventures is as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Pass-through joint ventures	$	9.1	$	8.4
Other joint ventures	0.7		1.2
Total	$	9.8	$	9.6

Joint Ventures and Variable Interest Entities - Schedule of Equity in Earnings of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Joint Ventures and Variable Interest Entities [Line Items]
Total	$ 9,827	$ 9,553
Unconsolidated Joint Ventures
Joint Ventures and Variable Interest Entities [Line Items]
Total	9,800	9,600
Unconsolidated Joint Ventures \| Pass-through joint ventures
Joint Ventures and Variable Interest Entities [Line Items]
Total	9,100	8,400
Unconsolidated Joint Ventures \| Other joint ventures
Joint Ventures and Variable Interest Entities [Line Items]
Total	$ 700	$ 1,200

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Statement [Abstract]
Revenue	$ 3,830,834	$ 4,014,152
Cost of revenue	3,549,844	3,745,748
Gross profit	280,990	268,404
Equity in earnings of joint ventures	9,827	9,553
General and administrative expenses	(40,839)	(40,459)
Restructuring and acquisition costs	(27,933)	0
Income from operations	222,045	237,498
Other income	7,819	6,924
Interest income	13,741	16,564
Interest expense	(45,266)	(43,034)
Income from continuing operations before taxes	198,339	217,952
Income tax expense for continuing operations	39,083	29,232
Net income from continuing operations	159,256	188,720
Net loss from discontinued operations	(65,904)	(9,516)
Net income	93,352	179,204
Net income attributable to noncontrolling interests from continuing operations	(18,832)	(11,370)
Net income attributable to noncontrolling interests from discontinued operations	0	(792)
Net income attributable to noncontrolling interests	(18,832)	(12,162)
Net income attributable to AECOM from continuing operations	140,424	177,350
Net loss attributable to AECOM from discontinued operations	(65,904)	(10,308)
Net income attributable to AECOM	$ 74,520	$ 167,042
Net income (loss) attributable to AECOM per share:
Basic continuing operations per share (in dollar per share)	$ 1.07	$ 1.34
Basic discontinued operations per share (in dollar per share)	(0.50)	(0.08)
Basic earnings per share (in dollar per share)	0.57	1.26
Diluted continuing operations per share (in dollar per share)	1.06	1.33
Diluted discontinued operations per share (in dollar per share)	(0.50)	(0.08)
Diluted earnings per share (in dollar per share)	$ 0.56	$ 1.25
Weighted average shares outstanding:
Basic (in shares)	130,888	132,500
Diluted (in shares)	131,982	133,625

Reportable Segments

3 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Reportable Segments

The Company manages its operations under three reportable segments according to their geographic regions and business activities. In identifying its reportable segments, the Company considered the financial information provided to its chief operating decision maker (CODM), who is the chief executive officer. The financial data is organized by geographic region and global business lines. The CODM uses this information to allocate resources and assess the performance of the segments primarily based on revenue less pass-through revenue and attributable earnings before interest, tax, and amortization expense along with forecasts, market activity, and other non-financial information. Information provided to the CODM for purposes of making operating decisions and evaluating segment performance excludes asset-related information. After considering various factors, including the development and utilization of financial data to the CODM, the Company concluded that identifying its operating segments by geography was consistent with the objectives of ASC 280-10. Certain operating segments have been aggregated based on similar characteristics, including long-term financial performance, the nature of services provided, internal process for delivering those services, and types of customers, to arrive at the Company’s reportable segments. The Company’s Americas reportable segment provides planning, consulting, architectural and engineering design services, and construction management services to public and private clients in the United States, Canada, and Latin America and is comprised of the Design and Consulting Services Americas and Construction Management operating segments. The Company’s International reportable segment provides similar professional services to public and private clients in Europe and India, the Middle East and Africa, Asia, and Australia and New Zealand and is comprised of the operating segments in those geographic regions. The Company’s AECOM Capital (ACAP) operating segment is its own reportable segment and primarily invests in and develops real estate projects. Certain expenses that are determined to be related to the Company as a whole are not deemed to be part of an operating segment but are reported within Corporate.

The following tables set forth summarized financial information concerning the Company’s reportable segments:


Reportable Segments:	Americas		International		AECOM Capital		Total
	($ in millions)
Three Months Ended December 31, 2025:
Revenue	$	2,977.3	$	853.5	$	—	$	3,830.8
Subcontractor and other direct costs	(1,862.6)		(117.3)		—		(1,979.9)
Employee compensation expense	(756.0)		(567.1)		—		(1,323.1)
Equity in earnings of joint ventures	4.5		4.6		0.7		9.8
Other segment items	(155.6)		(92.1)		(1.8)		(249.5)
Earnings before income taxes and amortization	$	207.6	$	81.6	$	(1.1)	$	288.1

Three Months Ended December 31, 2024:
Revenue	$	3,112.0	$	902.0	$	0.2	$	4,014.2
Subcontractor and other direct costs	(2,061.0)		(151.8)		—		(2,212.8)
Employee compensation expense	(708.4)		(566.8)		—		(1,275.2)
Equity in earnings of joint ventures	5.5		2.9		1.2		9.6
Other segment items	(154.6)		(108.9)		(2.4)		(265.9)
Earnings before income taxes and amortization	$	193.5	$	77.4	$	(1.0)	$	269.9

Other segment items include rent expenses, depreciation, nonoperating income, and deduction for earnings attributable to noncontrolling interests as well as other costs. The table below reconciles total segment attributable earnings before taxes and amortization to income from continuing operations before taxes:


	Three Months Ended
	December 31 2025		December 31 2024
Total segment attributable earnings before taxes and amortization	$	288.1	$	269.9
General and administrative expenses	(39.1)		(38.1)
Restructuring and acquisition costs	(27.9)		—
Other income	4.0		3.7
Interest income	13.7		16.6
Interest expense	(45.3)		(43.0)
Amortization expense	(12.9)		(1.1)
Income attributable to noncontrolling interests from continuing operations	17.7		10.0
Income from continuing operations before taxes	$	198.3	$	218.0


Reportable Segments:	Americas		International		AECOM Capital		Corporate and Assets Held for Sale		Total
	(In millions)
As of December 31, 2025:
Total assets	$	7,797.6	$	2,816.4	$	35.1	$	1,290.9	$	11,940.0
Investments in unconsolidated joint ventures	49.3		63.8		33.4		—		146.5
Three Months Ended December 31, 2025:
Capital expenditures	15.4		12.2		—		0.4		28.0
Depreciation and amortization	$	(39.2)	$	(10.5)	$	—	$	(2.3)	$	(52.0)

As of September 30, 2025:
Total assets	$	7,866.9	$	2,702.9	$	41.6	$	1,588.8	$	12,200.2
Investment in unconsolidated joint ventures	44.0		56.6		37.5		—		138.1
Three Months Ended December 31, 2024:
Capital expenditures	36.0		17.6		—		1.2		54.8
Depreciation and amortization	$	(23.3)	$	(16.8)	$	—	$	(2.2)	$	(42.3)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Basis of Presentation	3 Months Ended
Basis of Presentation	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of AECOM (the Company) are unaudited and, in the opinion of management, include all adjustments, including all normal recurring items necessary for a fair statement of the Company’s financial position and results of operations for the periods presented. All intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended September 30, 2025 (the Annual Report). The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States (U.S.) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The consolidated financial statements included in this report have been prepared consistently with the accounting policies described in the Annual Report, except as noted, and should be read together with the Annual Report. The results of operations for the three months ended December 31, 2025 are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2026. As discussed in more detail in Note 3, the Company concluded that its self-perform at-risk construction businesses met the criteria for held for sale beginning in the first quarter of fiscal 2020 and met the criteria for discontinued operation classification. As a result, the self-perform at-risk construction businesses are presented in the consolidated statements of operations as discontinued operations for all periods presented. Current and non-current assets and liabilities of these businesses are presented in the consolidated balance sheets as assets and liabilities held for sale. The Company reports its annual results of operations based on 52- or 53-week periods ending on the Friday nearest September 30. The interim consolidated financial statements are presented for the periods ending on January 2, 2026 and December 27, 2024. For clarity of presentation, all periods are presented as if the periods ended on September 30 and December 31.

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Total AECOM Stockholders’ Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficits	Non- Controlling Interests
Beginning balance at Sep. 30, 2024	$ 2,370,410	$ 2,184,205	$ 1,326	$ 4,347,197	$ (882,671)	$ (1,281,647)	$ 186,205
Increase (Decrease) in Stockholders' Equity
Net income	179,204	167,042				167,042	12,162
Dividends declared	(34,614)	(34,614)				(34,614)
Other comprehensive income (loss)	(82,511)	(82,123)			(82,123)		(388)
Issuance of stock	6,331	6,331	5	6,326
Repurchases of stock	(53,654)	(53,654)	(5)	(18,383)		(35,266)
Stock-based compensation	16,823	16,823		16,823
Contributions from noncontrolling interests	10						10
Distributions to noncontrolling interests	(2,456)						(2,456)
Ending balance at Dec. 31, 2024	2,399,543	2,204,010	1,326	4,351,963	(964,794)	(1,184,485)	195,533
Beginning balance at Sep. 30, 2025	2,696,184	2,492,584	1,318	4,609,126	(893,027)	(1,224,833)	203,600
Increase (Decrease) in Stockholders' Equity
Net income	93,352	74,520				74,520	18,832
Dividends declared	(40,382)	(40,382)				(40,382)
Other comprehensive income (loss)	5,085	4,993			4,993		92
Issuance of stock	12,807	12,807	7	12,800
Repurchases of stock	(327,906)	(327,906)	(32)	(19,321)		(308,553)
Stock-based compensation	15,326	15,326		15,326
Contributions from noncontrolling interests	139						139
Distributions to noncontrolling interests	(8,850)						(8,850)
Ending balance at Dec. 31, 2025	$ 2,445,755	$ 2,231,942	$ 1,293	$ 4,617,931	$ (888,034)	$ (1,499,248)	$ 213,813

Discontinued Operations, Goodwill and Intangible Assets - Schedule of Changes in Carrying Value of Goodwill by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2025 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 3,700,619
Foreign Exchange Impact	3,700
Post-Acquisition Adjustments	69,500
Goodwill, ending balance	3,773,803
Americas
Goodwill [Roll Forward]
Goodwill, beginning balance	2,770,400
Foreign Exchange Impact	2,600
Post-Acquisition Adjustments	46,600
Goodwill, ending balance	2,819,600
International
Goodwill [Roll Forward]
Goodwill, beginning balance	930,200
Foreign Exchange Impact	1,100
Post-Acquisition Adjustments	22,900
Goodwill, ending balance	$ 954,200

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Name Accounting Standards Codification
-Section 55
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-41

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Name Accounting Standards Codification
-Section 55
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478064/805-740-55-13

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-39

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 8: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Effective tax rate (as percent)	19.70%	13.40%
Tax at federal statutory rate (as percent)	21.00%	21.00%
Tax benefit related to income tax credits and incentives	$ 15.1	$ 17.6
Tax expense related to foreign residual income	13.2	15.1
Tax benefit related to deferred tax assets resulting from legal entity restructuring	20.1
Tax expense related to state income taxes		6.1
Deferred tax assets resulting from legal entity restructuring		$ 20.1
Gross book-tax differences from non-U.S. subsidiaries	$ 1,100.0

Debt (Tables)

3 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Credit Agreement	$	1,438.2	$	1,439.9
2033 Senior Notes	1,200.0		1,200.0
Other debt	100.3		103.8
Total debt	2,738.5		2,743.7
Less: Current portion of debt and short-term borrowings	(65.9)		(66.3)
Less: Unamortized debt issuance costs	(28.8)		(30.2)
Long-term debt	$	2,643.8	$	2,647.2

Schedule of Maturities of Debt

The following table presents, in millions, scheduled maturities of the Company’s debt as of December 31, 2025:


Fiscal Year
2026 (nine months remaining)	$	56.5
2027	32.6
2028	23.6
2029	762.7
2030	7.0
Thereafter	1,856.1
Total	$	2,738.5

Schedule of Debt Instrument Redemption

Furthermore, at any time on or after August 1, 2028, the Company may redeem on one or more occasions all or part of the 2033 Senior Notes at the redemption prices set forth below, plus accrued and unpaid interest thereon to, but excluding, the redemption date, if redeemed during the 12-month period beginning on August 1 of each of the years indicated below:

Percentage

2028 ................................................................................................................... 103.000%

2029 ................................................................................................................... 101.500%

2030 and thereafter ................................................................................................ 100.000%

Other Financial Information (Tables)

3 Months Ended

Dec. 31, 2025

Other Financial Information [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Accrued salaries and benefits	$	566.2	$	727.0
Accrued contract costs	1,479.2		1,419.0
Other accrued expenses	359.2		344.5
Total	$	2,404.6	$	2,490.5

Cover Page - shares	3 Months Ended
Cover Page - shares	Dec. 31, 2025	Feb. 06, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 02, 2026
Document Transition Report	false
Entity File Number	000-52423
Entity Registrant Name	AECOM
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1088522
Entity Address, Address Line One	13355 Noel Road
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	972
Local Phone Number	788-1000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ACM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		129,288,624
Entity Central Index Key	0000868857
Current Fiscal Year End Date	--09-30
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

Leases - Schedule of Total Remaining Lease Payments Under Operating and Finance Leases (Details) $ in Millions	Dec. 31, 2025 USD ($)
Operating Leases
2026 (nine months remaining)	$ 123.3
2027	139.5
2028	121.2
2029	99.9
2030	76.8
Thereafter	176.7
Total lease payments	737.4
Less: Amounts representing interest	(109.6)
Total lease liabilities	627.8
Finance Leases
2026 (nine months remaining)	26.9
2027	27.8
2028	17.6
2029	6.1
2030	0.2
Thereafter	0.0
Total lease payments	78.6
Less: Amounts representing interest	(5.1)
Total lease liabilities	$ 73.5

Debt - Schedule of Maturities of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2025	Sep. 30, 2025
Debt Disclosure [Abstract]
2026 (nine months remaining)	$ 56.5
2027	32.6
2028	23.6
2029	762.7
2030	7.0
Thereafter	1,856.1
Total debt	$ 2,738.5	$ 2,743.7

Earnings Per Share (Tables)

3 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Reconciliation of Denominators for Basic and Diluted Earnings Per Share

The following table sets forth a reconciliation of the denominators for basic and diluted earnings per share:


	Three Months Ended
	December 31, 2025	December 31, 2024
	(in millions)
Denominator for basic earnings per share	130.9	132.5
Potential common shares	1.1	1.1
Denominator for diluted earnings per share	132.0	133.6

Pension Benefit Obligations

3 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Pension Benefit Obligations

In the U.S., the Company sponsors various qualified defined benefit pension plans. Benefits under these plans generally are based on the employee’s years of creditable service and compensation; however, all U.S. defined benefit plans are closed to new participants and have frozen accruals.

The Company also sponsors various non-qualified plans in the U.S.; all of these plans are frozen. Outside the U.S., the Company sponsors various pension plans, which are appropriate to the country in which the Company operates, some of which are government mandated.

The components of net periodic benefit cost other than the service cost component are included in other income in the consolidated statement of operations. The following table details the components of net periodic benefit cost for the Company’s pension plans for the three months ended December 31, 2025 and 2024:


	Three Months Ended
	December 31, 2025				December 31, 2024
	U.S.		Int’l		U.S.		Int’l
	(in millions)
Components of net periodic benefit cost:

Interest cost on projected benefit obligation	1.9		10.0		2.0		9.9
Expected return on plan assets	(1.3)		(13.8)		(1.2)		(12.8)

Amortization of net loss (gain)	1.0		(0.1)		0.9		(0.3)

Net periodic benefit cost (credit)	$	1.6	$	(3.9)	$	1.7	$	(3.2)

The total amounts of employer contributions paid for the three months ended December 31, 2025 were $2.4 million for U.S. plans and $6.4 million for non-U.S. plans. The expected remaining scheduled annual employer contributions for the fiscal year ending September 30, 2026 are $8.5 million for U.S. plans and $18.2 million for non-U.S. plans.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Leases

3 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

The Company and its subsidiaries are lessees in non-cancelable leasing agreements for office buildings and equipment. Substantially all of the Company’s office building leases are operating leases, and its equipment leases are both operating and finance leases. The Company groups lease and non-lease components for its equipment leases into a single lease component but separates lease and non-lease components for its office building leases.

The Company recognizes a right-of-use asset and lease liability for its operating leases at the commencement date equal to the present value of the contractual minimum lease payments over the lease term. The present value is calculated using the rate implicit in the lease, if known, or the Company’s incremental secured borrowing rate. The discount rate used for operating leases is primarily determined based on an analysis of the Company’s incremental secured borrowing rate, while the discount rate used for finance leases is primarily determined by the rate specified in the lease.

The related lease payments are expensed on a straight-line basis over the lease term, including, as applicable, any free-rent period during which the Company has the right to use the asset. For leases with renewal options where the renewal is reasonably assured, the lease term, including the renewal period, is used to determine the appropriate lease classification and to compute periodic rental expense. Leases with initial terms shorter than 12 months are not recognized on the balance sheet, and lease expense is recognized on a straight-line basis.

The components of lease expenses are as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Operating lease cost	$	36.9	$	36.9
Finance lease cost:
Amortization of right-of-use assets	8.9		8.1
Interest on lease liabilities	1.0		0.9
Variable lease cost	8.3		8.2
Total lease cost	$	55.1	$	54.1

Additional balance sheet information related to leases is as follows:


		As of		As of
(in millions except as noted)	Balance Sheet Classification	December 31, 2025		September 30, 2025
Assets:
Operating lease assets	Operating lease right-of-use assets	$	448.4	$	463.5
Finance lease assets	Property and equipment – net	71.5		74.4
Total lease assets		$	519.9	$	537.9

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	129.4	$	132.4
Finance lease liabilities	Current portion of long-term debt	32.3		31.9
Total current lease liabilities		161.7		164.3
Non-current:
Operating lease liabilities	Operating lease liabilities, noncurrent	498.4		516.0
Finance lease liabilities	Long-term debt	41.2		44.3
Total non-current lease liabilities		$	539.6	$	560.3


	As of		As of
	December 31, 2025		September 30, 2025
Weighted average remaining lease term (in years):
Operating leases	5.9		6.1
Finance leases	2.6		2.7
Weighted average discount rates:
Operating leases	5.3	%	5.2	%
Finance leases	4.8	%	4.8	%

Additional cash flow information related to leases is as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	43.1	$	41.9
Operating cash flows from finance leases	1.0		0.9
Financing cash flows from finance leases	8.6		7.5
Right-of-use assets obtained in exchange for new operating leases	12.4		21.6
Right-of-use assets obtained in exchange for new finance leases	5.7		17.9

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2026 (nine months remaining)	$	123.3	$	26.9
2027	139.5		27.8
2028	121.2		17.6
2029	99.9		6.1
2030	76.8		0.2
Thereafter	176.7		—
Total lease payments	$	737.4	$	78.6
Less: Amounts representing interest	$	(109.6)	$	(5.1)
Total lease liabilities	$	627.8	$	73.5

Leases

The components of lease expenses are as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Operating lease cost	$	36.9	$	36.9
Finance lease cost:
Amortization of right-of-use assets	8.9		8.1
Interest on lease liabilities	1.0		0.9
Variable lease cost	8.3		8.2
Total lease cost	$	55.1	$	54.1

Additional balance sheet information related to leases is as follows:


		As of		As of
(in millions except as noted)	Balance Sheet Classification	December 31, 2025		September 30, 2025
Assets:
Operating lease assets	Operating lease right-of-use assets	$	448.4	$	463.5
Finance lease assets	Property and equipment – net	71.5		74.4
Total lease assets		$	519.9	$	537.9

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	129.4	$	132.4
Finance lease liabilities	Current portion of long-term debt	32.3		31.9
Total current lease liabilities		161.7		164.3
Non-current:
Operating lease liabilities	Operating lease liabilities, noncurrent	498.4		516.0
Finance lease liabilities	Long-term debt	41.2		44.3
Total non-current lease liabilities		$	539.6	$	560.3


	As of		As of
	December 31, 2025		September 30, 2025
Weighted average remaining lease term (in years):
Operating leases	5.9		6.1
Finance leases	2.6		2.7
Weighted average discount rates:
Operating leases	5.3	%	5.2	%
Finance leases	4.8	%	4.8	%

Additional cash flow information related to leases is as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	43.1	$	41.9
Operating cash flows from finance leases	1.0		0.9
Financing cash flows from finance leases	8.6		7.5
Right-of-use assets obtained in exchange for new operating leases	12.4		21.6
Right-of-use assets obtained in exchange for new finance leases	5.7		17.9

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2026 (nine months remaining)	$	123.3	$	26.9
2027	139.5		27.8
2028	121.2		17.6
2029	99.9		6.1
2030	76.8		0.2
Thereafter	176.7		—
Total lease payments	$	737.4	$	78.6
Less: Amounts representing interest	$	(109.6)	$	(5.1)
Total lease liabilities	$	627.8	$	73.5

Debt - 2027 and 2033 Senior Notes (Details) - USD ($)		1 Months Ended
Debt - 2027 and 2033 Senior Notes (Details) - USD ($)	Jul. 22, 2025	Aug. 31, 2025	Dec. 31, 2025	Jul. 31, 2025	Feb. 21, 2017
2027 Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount					$ 1,000,000,000
Interest rate (as percent)					5.125%
Repurchased face amount				$ 732,914,000
Make-whole payment		$ 9,100,000
2033 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,200,000,000
Interest rate (as percent)	6.00%
Estimated fair value			$ 1,222,500,000
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	100.00%
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	40.00%
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	106.00%
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as percent)	103.00%
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Redemption price (as percent)	101.50%
2033 Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period After Five Years
Debt Instrument [Line Items]
Redemption price (as percent)	100.00%

Other Financial Information - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025
Other Financials Information [Line Items]
Accrued contract costs including professional liability accruals	$ 1,479,200		$ 1,419,000
Restructuring and acquisition costs	27,933	$ 0
Accrued restructuring expenses	$ 15,000
Cash dividends declared (in dollars per share)	$ 0.31
Accrued and unpaid dividend	$ 42,600
Labor-Related Costs
Other Financials Information [Line Items]
Restructuring and acquisition costs	26,300
Non-Labor
Other Financials Information [Line Items]
Restructuring and acquisition costs	1,600
Professional Liability Accrual
Other Financials Information [Line Items]
Accrued contract costs including professional liability accruals	$ 883,200		$ 893,700

Discontinued Operations, Goodwill and Intangible Assets - Schedule of Gross Amount and Accumulated Amortization of Acquired Identifiable Intangible Assets with Finite Useful Lives (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 195,400	$ 185,800
Accumulated Amortization	(15,400)	(2,500)
Intangible Assets, Net	179,980	183,284
Backlog and Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	7,400	7,400
Accumulated Amortization	(2,900)	(2,500)
Intangible Assets, Net	$ 4,500	4,900
Backlog and Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization Period (in years)	1 year
Backlog and Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization Period (in years)	11 years
Digital assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 188,000	178,400
Accumulated Amortization	(12,500)	0
Intangible Assets, Net	$ 175,500	$ 178,400
Amortization Period (in years)	5 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Pension Benefit Obligations (Tables)

3 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Cost for Pension Plans

The following table details the components of net periodic benefit cost for the Company’s pension plans for the three months ended December 31, 2025 and 2024:


	Three Months Ended
	December 31, 2025				December 31, 2024
	U.S.		Int’l		U.S.		Int’l
	(in millions)
Components of net periodic benefit cost:

Interest cost on projected benefit obligation	1.9		10.0		2.0		9.9
Expected return on plan assets	(1.3)		(13.8)		(1.2)		(12.8)

Amortization of net loss (gain)	1.0		(0.1)		0.9		(0.3)

Net periodic benefit cost (credit)	$	1.6	$	(3.9)	$	1.7	$	(3.2)

New Accounting Pronouncements and Changes in Accounting (Policies)	3 Months Ended
	Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements and Changes in Accounting	In December 2023, the Financial Accounting Standard Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance the income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The update also includes certain other amendments to improve the effectiveness of income tax disclosures. The standard is effective for the Company for its annual financial statements in fiscal year 2026 and can be applied either prospectively or retrospectively. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03 requiring public entities to provide disaggregated disclosures in the notes of the financial statements of certain categories of expenses that are included in expense line items on the face of the income statement on an interim basis. The new guidance is effective for the Company for its annual financial statements in fiscal year 2027 and for its interim financial statements in fiscal year 2028, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this new guidance will have on its financial statements. In September 2025, the FASB issued ASU 2025-06 to clarify and modernize the accounting for costs related to internal-use software. The guidance removes references to project stages used in ASC 250-40 and clarifies the threshold entities should apply to begin capitalizing internal-use software costs. The new guidance is effective for the Company starting October 1, 2028. The Company adopted new guidance in the first quarter of fiscal year 2026 using the prospective approach. Adoption of this new guidance did not have a material impact on the Company's financial statements. In December 2025, the FASB issued ASU 2025-10 to provide authoritative guidance related to the recognition, measurement, presentation and disclosure of government grants received by business entities. Previously, GAAP lacked specific provisions, leading to diverse practices based on analogies to IAS 20, ASC 958-605, or ASC 250. The new guidance is effective for the Company in fiscal year 2029. The Company adopted the new guidance in the first quarter of fiscal year 2026 using a modified prospective approach. Adoption of this new guidance did not have a material impact on the Company's financial statements. In December 2025, the FASB issued ASU 2025-11 that clarifies and improves the guidance for interim financial reporting by providing a list of required interim disclosures, clarifying the applicability of interim reporting requirements, and introducing a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The new guidance is effective for the Company starting October 1, 2028, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this new guidance will have on its financial presentation.

Discontinued Operations, Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2025

Discontinued Operations, Goodwill, and Intangible Assets [Abstract]

Discontinued Operations, Goodwill and Intangible Assets

In the first quarter of fiscal 2020, management approved a plan to dispose of via sale the Company’s self-perform at-risk construction businesses. These businesses include the Company’s civil infrastructure, power, and oil and gas construction businesses that were previously reported in the Company’s Construction Services segment. After consideration of the relevant facts, the Company concluded the assets and liabilities of its self-perform at-risk construction businesses met the criteria for classification as held for sale. The Company concluded the actual and proposed disposal activities represented a strategic shift that would have a major effect on the Company’s operations and financial results and qualified for presentation as discontinued operations in accordance with FASB ASC 205-20. Accordingly, the financial results of the self-perform at-risk construction businesses are presented in the Consolidated Statement of Operations as discontinued operations for all periods presented. Current and non-current assets and liabilities of these businesses not sold as of the balance sheet date are presented in the Consolidated Balance Sheets as assets and liabilities held for sale for both periods presented. As of December 31, 2025, the Company had one equity method investment with a carrying value of $14.0 million classified as held for sale.

During the third quarter of fiscal 2024, the Company resolved contingencies related to the sale of its civil infrastructure construction business and received equity in the counterparty. Concurrently, the Company participated as a member of a lending group in a revolving credit facility for the counterparty, committing to fund $30 million that matures in May 2029. At December 31, 2025, the counterparty had $23.2 million outstanding under the credit facility, and all cash flows were classified as other investing activities.

During the second quarter of fiscal 2025, the Company and its joint venture counterparty amended the joint venture agreement for a business classified as held for sale. In connection with the amendment and consistent with ASC 810, Consolidation, the Company reconsidered whether it remained the primary beneficiary under the variable interest model and concluded it was no longer the primary beneficiary. As such, the Company deconsolidated the joint venture as of the amendment date. The Company continues to present its retained noncontrolling interest as held for sale and equity in earnings from the joint venture are reported in net loss from discontinued operations. No gain or loss was recognized in the deconsolidation of the joint venture during the second quarter of fiscal 2025.

Department of Energy Deactivation, Demolition, and Removal Project

A former affiliate of the Company, Amentum Environment & Energy, Inc., f/k/a AECOM Energy and Construction, Inc. (“Former Affiliate”), executed a cost-reimbursable task order with the Department of Energy (DOE) in 2007 to provide deactivation, demolition and removal services at a New York State project site that, during 2010, experienced contamination and performance issues. In February 2011, the Former Affiliate and the DOE executed a Task Order Modification that changed some cost-reimbursable contract provisions to at-risk. The Task Order Modification, including subsequent amendments, required the DOE to pay all project costs up to $106 million, required the Former Affiliate and the DOE to equally share in all project costs incurred from $106 million to $146 million, and required the Former Affiliate to pay all project costs exceeding $146 million.

Due to unanticipated requirements and permitting delays by federal and state agencies, as well as delays and related ground stabilization activities caused by Hurricane Irene in 2011, the Former Affiliate was required to perform work outside the scope of the Task Order Modification. In December 2014, the Former Affiliate submitted an initial set of claims against the DOE pursuant to the Contracts Disputes Acts seeking recovery of $103 million, including additional fees on changed work scope (the “2014 Claims”). On December 6, 2019, the Former Affiliate submitted a second set of claims against the DOE seeking recovery of an additional $60.4 million, including additional project costs and delays outside the scope of the contract as a result of differing site and ground conditions (the “2019 Claims”). The Former Affiliate also submitted three alternative breach of contract claims to the 2014 Claims and the 2019 Claims that may entitle the Former

Affiliate to recovery of $148.5 million to $329.4 million. On December 30, 2019, the DOE denied the Former Affiliate’s 2014 Claims. On September 25, 2020, the DOE denied the Former Affiliate’s 2019 Claims. The Company filed an appeal of these decisions on December 20, 2020 in the Court of Federal Claims. Deconstruction, decommissioning and site restoration activities are complete.

On January 31, 2020, the Company completed the sale of its Management Services business, including the Former Affiliate who worked on the DOE project, to Maverick Purchaser Sub LLC (“MS Purchaser”), an affiliate of American Securities LLC and Lindsay Goldberg LLC. The Company and the MS Purchaser agreed that all future DOE project claim recoveries and costs will be split 10% to the MS Purchaser and 90% to the Company with the Company retaining control of all future strategic legal decisions.

During the first quarter of fiscal 2026, the procedural process resumed, and the Company subsequently engaged in settlement discussions. As a result, the Company revised its estimated recovery of the 2014 Claims and 2019 Claims submitted against the DOE, resulting in a $61.8 million non-cash loss recorded in loss from discontinued operations as the project was completed prior to the sale of the Former Affiliate.

The asset related to the project is presented in other noncurrent assets in the Consolidated Balance Sheet.

Refinery Turnaround Project

A former affiliate of the Company, which was sold in a series of transactions to effectuate the sale of the self‑perform at-risk construction businesses, entered into an agreement to perform turnaround maintenance services in Montana in December 2017. The former affiliate performed additional work outside of the original contract and became entitled to payment from the refinery owner. As part of the sale of the former affiliate, the refinery turnaround project, including related claims, were retained by the Company. The former affiliate's claims against the refinery owner and the refinery owner's cross-claims against the Company's former affiliate moved to federal court. A jury trial was completed on February 1, 2025, resulting in a favorable verdict for the Company. As a result of unfavorable court orders on post-trial motions, including pre-judgment interest and prompt payment interest, and issuance of the associated judgment, the Company recorded a $53.0 million loss during the third quarter of fiscal 2025 from the reduction in the expected future net cash proceeds the Company would receive as a result of the trial verdict. The Company has appealed the judgment. The loss was reported in discontinued operations as the project was completed prior to the sale of the former affiliate.

The Company's noncurrent assets held for sale represent the carrying value of its investment in an unconsolidated joint venture, which was $14.0 million and $19.0 million as of December 31, 2025 and September 30, 2025, respectively.

The following table represents summarized income statement information of discontinued operations (in millions):


	Three Months Ended
	December 31, 2025		December 31, 2024

Revenue	$	—	$	42.6
Cost of revenue	—		50.3
Gross loss	—		(7.7)
Equity in losses of joint ventures	(0.5)		—
Loss on disposal activities	(66.3)		(4.9)

Loss from operations	(66.8)		(12.6)
Other expense	(0.4)		(0.4)
Loss before taxes	(67.2)		(13.0)
Income tax benefit	(1.3)		(3.4)
Net loss from discontinued operations	$	(65.9)	$	(9.6)

The significant components included in our Consolidated Statement of Cash Flows for the discontinued operations are as follows (in millions):


	Three Months Ended
	December 31, 2025		December 31, 2024

Payments for capital expenditures	$	—	$	(0.4)

The Company completed two business acquisitions during the year ended September 30, 2025 for total consideration of $375.9 million, which included stock consideration of $146.4 million. Neither of these two acquisitions met the quantitative thresholds to require separate disclosure. The Company acquired these businesses to expand its competitive advantage and compound strengths to achieve its long-term profitability targets. The Company preliminarily estimates the amount of identifiable assets as soon as information is available, but not more than 12 months from the date of acquisition. The initial accounting for these acquisitions is not complete as of December 31, 2025 as the Company continues to assess the value of the tax liabilities and the acquired intellectual property, including digital assets.

The changes in the carrying value of goodwill by reportable segment for the three months ended December 31, 2025 were as follows:


	September 30, 2025		Foreign Exchange Impact		Post-Acquisition Adjustments		December 31, 2025
	(in millions)
Americas	$	2,770.4	$	2.6	$	46.6	$	2,819.6
International	930.2		1.1		22.9		954.2
Total	$	3,700.6	$	3.7	$	69.5	$	3,773.8

The gross amounts and accumulated amortization of the Company’s acquired identifiable intangible assets with finite useful lives as of December 31, 2025 and September 30, 2025, included in intangible assets—net, in the accompanying consolidated balance sheets, were as follows:


	December 31, 2025						September 30, 2025
	Gross Amount		Accumulated Amortization		Intangible Assets, Net		Gross Amount		Accumulated Amortization		Intangible Assets, Net		Amortization Period
	(in millions)												(years)
Backlog and Customer relationships	$	7.4	$	(2.9)	$	4.5	$	7.4	$	(2.5)	$	4.9	1 - 11
Digital assets	188.0		(12.5)		175.5		178.4		—		178.4		5
Total	$	195.4	$	(15.4)	$	180.0	$	185.8	$	(2.5)	$	183.3

Amortization expense of acquired intangible assets included within cost of revenue was $12.9 million and $1.1 million for the three months ended December 31, 2025 and 2024, respectively. The following table presents estimated amortization expense of existing intangible assets for the remainder of fiscal 2026 and for the succeeding years:


Fiscal Year	(in millions)
2026 (nine months remaining)	$	29.3
2027	39.1
2028	39.1
2029	38.0
2030	34.5

Total	$	180.0

Derivative Financial Instruments and Fair Value Measurements

3 Months Ended

Dec. 31, 2025

Derivative Financial Instruments and Fair Value Measurements [Abstract]

Derivative Financial Instruments and Fair Value Measurements

The Company uses interest rate derivative contracts to hedge interest rate exposures on the Company’s variable rate debt. The Company enters into foreign currency derivative contracts with financial institutions to reduce the risk that its cash flows and earnings will be adversely affected by foreign currency exchange rate fluctuations. The Company’s hedging program is not designated for trading or speculative purposes.

The Company recognizes derivative instruments as either assets or liabilities on the accompanying consolidated balance sheets at fair value. The Company records changes in the fair value (i.e., gains or losses) of the derivatives that have been designated as accounting hedges in the accompanying consolidated statements of operations as cost of revenue, interest expense or to accumulated other comprehensive loss in the accompanying consolidated balance sheets.

Cash Flow Hedges

The Company uses interest rate swap and interest rate cap agreements designated as cash flow hedges to limit exposure to variable interest rates on portions of the Company’s debt. The Company initially reports any gain on the effective portion of a cash flow hedge as a component of accumulated other comprehensive loss. Depending on the type of cash flow hedge, the gain is subsequently reclassified against interest expense when the interest expense on the variable rate debt is recognized. If the hedged transaction becomes probable of not occurring, any gain or loss related to interest rate swap or interest rate cap agreements would be recognized in other income.

The notional principal, fixed rates and related effective and expiration dates of the Company’s outstanding interest rate swap agreements were as follows:

December 31, 2025

Notional Amount
Currency

Notional Amount
(in millions)

Fixed
Rate

Effective
Date

Expiration
Date

USD

400.0

1.283%

February 2023

March 2028

September 30, 2025

Notional Amount
Currency

Notional Amount
(in millions)

Fixed
Rate

Effective
Date

Expiration
Date

USD

400.0

1.283%

February 2023

March 2028

In the fourth quarter of fiscal 2021, the Company entered into interest rate swap agreements with a notional value of $400.0 million to manage the interest rate exposure of its variable rate loans. The swaps became effective February 2023 and terminate in March 2028. By entering into the swap agreements, the Company converted a portion of the SOFR rate-based liability into a fixed rate liability. The Company pays a fixed rate of 1.283% and receives payment at the prevailing one-month SOFR.

In the third quarter of fiscal 2022, the Company purchased interest rate cap agreements with a notional value of $300.0 million to manage interest rate exposure of its variable rate loans. The caps became effective on June 30, 2022 and terminate in March 2028. The caps reduce the Company’s exposure to one-month SOFR. In the event one-month SOFR exceeds 3.465%, the Company will receive the spread between prevailing one-month SOFR and 3.465%.

See Note 14 for accumulated balances and reporting period activities of derivatives related to reclassifications out of accumulated other comprehensive loss for the three months ended December 31, 2025 and 2024. Additionally, there were no material losses recognized in income due to amounts excluded from effectiveness testing from the Company’s interest rate swap agreements.

Other Foreign Currency Forward Contracts

The Company uses foreign currency forward contracts which are not designated as accounting hedges to hedge intercompany transactions and other monetary assets or liabilities denominated in currencies other than the functional currency of a subsidiary. Gains and losses on these contracts were not material for the three months ended December 31, 2025 and 2024.

Fair Value Measurements

The fair values of the interest rate swap and interest rate cap agreements were derived by taking the net present value of the expected cash flows using observable market inputs (Level 2) such as SOFR rate curves, futures, volatilities and basis spreads (when applicable).

As discussed in Note 3, the Company received an equity investment in the civil infrastructure construction business buyer and concurrently participated as a member of a lending group in a revolving credit facility. The Company elected the fair value option for its equity investment due to the availability of quoted prices of identical assets. The fair value option was also elected for the credit facility investment. Changes in fair value of both investments are classified within other income on the consolidated statements of operations. The Company records interest income at the stated coupon rate of the credit facility and classifies it within interest income on the consolidated statement of operations. Fair value for the equity investment is determined using Level 1 inputs, and fair value of the credit facility investment is determined using Level 3 inputs, such as estimated cash flows and estimated discount rates. The Company recorded a gain of $1.0 million and $5.0 million in other income in the first three months of fiscal 2026 and 2025, respectively, representing the increase in fair value of these investments.

In the fourth quarter of fiscal 2025, the Company issued contingent consideration in connection with the acquisition of a business, with a maximum value of $17.7 million. The contingent consideration is a liability that is measured at fair value with changes in fair value reported in other income. The contingent consideration is measured using Level 2 inputs, such as quoted market prices and volatilities. The Company recorded a gain of $4.1 million in other income in the first three months of fiscal 2026.

Below are the Company's non-pension financial assets and liabilities recorded at fair value on a recurring basis within the ASC 820-10 fair value hierarchy:


	December 31, 2025
	Balance Sheet Location	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Interest rate contracts	Other current assets	$	—	$	8.3	$	—	$	8.3
Interest rate contracts	Other non-current assets	—		8.8		—		8.8
Interest rate contracts	Other current liabilities	—		(2.2)		—		(2.2)
Interest rate contracts	Other long-term liabilities	—		(2.3)		—		(2.3)
Credit facility investment	Other non-current assets	—		—		23.0		23.0
Contingent Consideration	Other long-term liabilities	—		(3.4)		—		(3.4)
Equity investment	Other non-current assets	23.6		—		—		23.6
Total net assets at fair value		$	23.6	$	9.2	$	23.0	$	55.8

	September 30, 2025
	Balance Sheet Location	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Interest rate contracts	Other current assets	$	—	$	9.0	$	—	$	9.0
Interest rate contracts	Other non-current assets	—		10.0		—		10.0
Interest rate contracts	Other current liabilities	—		(1.8)		—		(1.8)
Interest rate contracts	Other long-term liabilities	—		(2.8)		—		(2.8)
Credit facility investment	Other non-current assets	—		—		17.4		17.4
Contingent Consideration	Other long-term liabilities	—		(7.5)		—		(7.5)
Equity investment	Other non-current assets	21.9		—		—		21.9
Total net assets at fair value		$	21.9	$	6.9	$	17.4	$	46.2

The table below sets forth a summary of changes in the fair value of the Company's Level 3 investment assets:


	Three Months Ended December 31, 2025
	Beginning Balance		Investment Gains/(Losses)	Interest Earned	Loans	Collections	Ending Balance
Credit facility investment including accrued interest	$	17.4	(0.8)	0.4	6.0		$	23.0

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Reportable Segments (Tables)

3 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Financial Information Concerning the Company's Reportable Segments

The following tables set forth summarized financial information concerning the Company’s reportable segments:


Reportable Segments:	Americas		International		AECOM Capital		Total
	($ in millions)
Three Months Ended December 31, 2025:
Revenue	$	2,977.3	$	853.5	$	—	$	3,830.8
Subcontractor and other direct costs	(1,862.6)		(117.3)		—		(1,979.9)
Employee compensation expense	(756.0)		(567.1)		—		(1,323.1)
Equity in earnings of joint ventures	4.5		4.6		0.7		9.8
Other segment items	(155.6)		(92.1)		(1.8)		(249.5)
Earnings before income taxes and amortization	$	207.6	$	81.6	$	(1.1)	$	288.1

Three Months Ended December 31, 2024:
Revenue	$	3,112.0	$	902.0	$	0.2	$	4,014.2
Subcontractor and other direct costs	(2,061.0)		(151.8)		—		(2,212.8)
Employee compensation expense	(708.4)		(566.8)		—		(1,275.2)
Equity in earnings of joint ventures	5.5		2.9		1.2		9.6
Other segment items	(154.6)		(108.9)		(2.4)		(265.9)
Earnings before income taxes and amortization	$	193.5	$	77.4	$	(1.0)	$	269.9


	Three Months Ended
	December 31 2025		December 31 2024
Total segment attributable earnings before taxes and amortization	$	288.1	$	269.9
General and administrative expenses	(39.1)		(38.1)
Restructuring and acquisition costs	(27.9)		—
Other income	4.0		3.7
Interest income	13.7		16.6
Interest expense	(45.3)		(43.0)
Amortization expense	(12.9)		(1.1)
Income attributable to noncontrolling interests from continuing operations	17.7		10.0
Income from continuing operations before taxes	$	198.3	$	218.0


Reportable Segments:	Americas		International		AECOM Capital		Corporate and Assets Held for Sale		Total
	(In millions)
As of December 31, 2025:
Total assets	$	7,797.6	$	2,816.4	$	35.1	$	1,290.9	$	11,940.0
Investments in unconsolidated joint ventures	49.3		63.8		33.4		—		146.5
Three Months Ended December 31, 2025:
Capital expenditures	15.4		12.2		—		0.4		28.0
Depreciation and amortization	$	(39.2)	$	(10.5)	$	—	$	(2.3)	$	(52.0)

As of September 30, 2025:
Total assets	$	7,866.9	$	2,702.9	$	41.6	$	1,588.8	$	12,200.2
Investment in unconsolidated joint ventures	44.0		56.6		37.5		—		138.1
Three Months Ended December 31, 2024:
Capital expenditures	36.0		17.6		—		1.2		54.8
Depreciation and amortization	$	(23.3)	$	(16.8)	$	—	$	(2.2)	$	(42.3)

Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 2,696,184	$ 2,370,410
Other comprehensive (loss) income before reclassification	6,200	(79,800)
Amounts reclassified from accumulated other comprehensive (loss) income	(1,200)	(2,300)
Ending balance	2,445,755	2,399,543
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(893,027)	(882,671)
Ending balance	(888,034)	(964,794)
Pension Related Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(251,400)	(252,000)
Other comprehensive (loss) income before reclassification	400	13,800
Amounts reclassified from accumulated other comprehensive (loss) income	600	500
Ending balance	(250,400)	(237,700)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(652,400)	(646,500)
Other comprehensive (loss) income before reclassification	5,300	(105,500)
Amounts reclassified from accumulated other comprehensive (loss) income		0
Ending balance	(647,100)	(752,000)
Gain/(Loss) on Derivative Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	10,800	15,800
Other comprehensive (loss) income before reclassification	500	11,900
Amounts reclassified from accumulated other comprehensive (loss) income	(1,800)	(2,800)
Ending balance	$ 9,500	$ 24,900

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

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+ Details

Share-based Payments - Schedule of Restricted Stock Units and PEP Units Activity (Details) - $ / shares shares in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Restricted Stock Units
Units
Outstanding at beginning (in units)	0.7	0.8
Granted (in units)	0.3	0.2
PEP units earned (in units)	0.0	0.0
Vested (in units)	(0.2)	(0.2)
Cancelled (in units)	(0.0)	(0.0)
Outstanding at ending (in units)	0.8	0.8
Weighted Average Grant-Date Fair Value
Outstanding at beginning (in dollars per share)	$ 95.64	$ 83.96
Granted (in dollars per share)	97.98	111.45
PEP units earned (in dollars per share)	0	0
Vested (in dollars per share)	83.30	74.63
Cancelled (in dollars per share)	86.63	84.14
Outstanding at ending (in dollars per share)	$ 99.99	$ 95.45
PEP Units
Units
Outstanding at beginning (in units)	0.6	0.7
Granted (in units)	0.3	0.2
PEP units earned (in units)	0.1	0.1
Vested (in units)	(0.3)	(0.3)
Cancelled (in units)	(0.0)	(0.0)
Outstanding at ending (in units)	0.7	0.7
Weighted Average Grant-Date Fair Value
Outstanding at beginning (in dollars per share)	$ 109.74	$ 95.38
Granted (in dollars per share)	90.09	129.50
PEP units earned (in dollars per share)	94.82	85.46
Vested (in dollars per share)	94.82	85.46
Cancelled (in dollars per share)	105.03	104.43
Outstanding at ending (in dollars per share)	$ 106.74	$ 109.68

Income Taxes	3 Months Ended
Income Taxes	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 19.7% and 13.4% for the three months ended December 31, 2025 and 2024, respectively. The most significant items contributing to the difference between the statutory U.S. federal corporate tax rate of 21.0% and the Company’s effective tax rate for the three-month period ended December 31, 2025 were a tax benefit of $15.1 million related to income tax credits and incentives, and tax expense of $13.2 million related to foreign residual income. All these items are expected to have a continuing impact on the effective tax rate for the remainder of the fiscal year. The most significant items contributing to the difference between the statutory U.S. federal corporate tax rate of 21.0% and the Company’s effective tax rate for the three-month period ended December 31, 2024 were a tax benefit of $20.1 million related to deferred tax assets recognized due to legal entity restructuring, a tax benefit of $17.6 million related to income tax credits and incentives, tax expense of $15.1 million related to foreign residual income, and tax expense of $6.1 million related to state income taxes. During the first quarter of fiscal 2025, the Company recognized deferred tax assets of $20.1 million related to legal entity restructuring. The restructuring resulted in the recognition of deferred tax assets related to tax attributes that are expected to be utilized against future taxable income. The Company is utilizing the annual effective tax rate method under ASC 740 to compute its interim tax provision. The Company’s effective tax rate fluctuates from quarter to quarter due to various factors including the change in the mix of global income and expenses, outcomes of administrative audits, changes in the assessment of valuation allowances due to management’s consideration of new positive or negative evidence during the quarter, and changes in enacted tax laws. The U.S. and many international legislative and regulatory bodies have proposed legislation that could significantly impact how our business activities are taxed. These proposed changes could have a material impact on the Company’s income tax expense and deferred tax balances. The Company is currently under tax audit in several jurisdictions including the U.S. where its federal income tax returns for fiscal 2017 through 2020 are being examined by the IRS. Disputes can arise with tax authorities involving issues related to the timing of deductions, the calculation and use of credits, and the taxation of income in various tax jurisdictions because of differing interpretations or application of tax laws, regulations, and relevant facts. The IRS is currently auditing certain tax credits and the methodology for calculating the credits. The Company will continue to monitor developments related to the examination and will adjust the reserve as necessary based on changes in facts and circumstances, including the resolution of the audit. Generally, the Company does not provide for U.S. taxes or foreign withholding taxes on gross book-tax differences in its non-U.S. subsidiaries because such basis differences of approximately $1.1 billion are able to and intended to be reinvested indefinitely. If these basis differences were distributed, foreign tax credits could become available under current law to partially or fully reduce the resulting U.S. income tax liability. There may also be additional U.S. or foreign income tax liability upon repatriation, although the calculation of such additional taxes is not practicable.

- Definition

The entire disclosure for income tax.

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+ Details

Discontinued Operations, Goodwill and Intangible Assets - Schedule of Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026 (nine months remaining)	$ 29,300
2027	39,100
2028	39,100
2029	38,000
2030	34,500
Intangible Assets, Net	$ 179,980	$ 183,284

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 1,022,141	$ 1,378,582
Cash in consolidated joint ventures	224,546	207,157
Total cash and cash equivalents	1,246,687	1,585,739
Accounts receivable—net	2,348,427	2,497,147
Contract assets	2,035,472	1,785,179
Prepaid expenses and other current assets	724,746	716,070
Income taxes receivable	136,571	146,092
TOTAL CURRENT ASSETS	6,491,903	6,730,227
PROPERTY AND EQUIPMENT—NET	387,128	416,164
DEFERRED TAX ASSETS—NET	294,894	295,249
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	146,485	138,056
GOODWILL	3,773,803	3,700,619
INTANGIBLE ASSETS—NET	179,980	183,284
OTHER NON-CURRENT ASSETS	203,520	254,218
OPERATING LEASE RIGHT-OF-USE ASSETS	448,370	463,479
NON - CURRENT ASSETS HELD FOR SALE	13,953	18,953
TOTAL ASSETS	11,940,036	12,200,249
CURRENT LIABILITIES:
Short-term debt	3,318	4,069
Accounts payable	2,282,480	2,260,609
Accrued expenses and other current liabilities	2,404,554	2,490,480
Income taxes payable	37,260	23,536
Contract liabilities	1,091,648	1,087,905
Current portion of long-term debt	62,550	62,217
TOTAL CURRENT LIABILITIES	5,881,810	5,928,816
OTHER LONG-TERM LIABILITIES	278,057	210,870
OPERATING LEASE LIABILITIES, NON-CURRENT	498,398	515,998
DEFERRED TAX LIABILITY-NET	68,966	67,968
PENSION BENEFIT OBLIGATIONS	123,217	133,193
LONG-TERM DEBT	2,643,833	2,647,220
TOTAL LIABILITIES	9,494,281	9,504,065
COMMITMENTS AND CONTINGENCIES (Note 15)
AECOM STOCKHOLDERS’ EQUITY:
Common stock-authorized, 300,000,000 shares of $0.01 par value as of December 31, 2025 and September 30, 2025; issued and outstanding 129,286,286 and 131,782,371 shares as of December 31, 2025 and September 30, 2025, respectively	1,293	1,318
Additional paid-in capital	4,617,931	4,609,126
Accumulated other comprehensive loss	(888,034)	(893,027)
Accumulated deficits	(1,499,248)	(1,224,833)
TOTAL AECOM STOCKHOLDERS’ EQUITY	2,231,942	2,492,584
Noncontrolling interests	213,813	203,600
TOTAL STOCKHOLDERS’ EQUITY	2,445,755	2,696,184
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 11,940,036	$ 12,200,249

Other Financial Information

3 Months Ended

Dec. 31, 2025

Other Financial Information [Abstract]

Other Financial Information

Accrued expenses and other current liabilities consist of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Accrued salaries and benefits	$	566.2	$	727.0
Accrued contract costs	1,479.2		1,419.0
Other accrued expenses	359.2		344.5
Total	$	2,404.6	$	2,490.5

Accrued contract costs above include balances related to professional liability accruals of $883.2 million and $893.7 million as of December 31, 2025 and September 30, 2025, respectively. The remaining accrued contract costs primarily relate to costs for services provided by subcontractors and other non-employees. Liabilities recorded related to accrued contract losses were not material as of December 31, 2025 and September 30, 2025. The Company did not have material revisions to estimates for contracts where revenue is recognized using the input method during the three months ended December 31, 2025 and 2024. During the first three months of fiscal 2026 the Company incurred restructuring and acquisition expenses of $27.9 million, including personnel and other costs of $26.3 million and real estate costs of $1.6 million, of which $15.0 million was accrued and unpaid at December 31, 2025. During the first three months of fiscal 2025, the Company did not initiate any new transformational restructuring activities.

On November 18, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.31 per share, which was paid on January 23, 2026 to stockholders of record as of the close of business on January 7, 2026. As of December 31, 2025, accrued and unpaid dividends totaled $42.6 million and were classified within other accrued expenses on the consolidated balance sheet.

Discontinued Operations, Goodwill and Intangible Assets (Tables)

3 Months Ended

Dec. 31, 2025

Discontinued Operations, Goodwill, and Intangible Assets [Abstract]

Schedule of Balance Sheet of Assets and Liabilities Held for Sale and Income Statement and Cash Flow Information of Discontinued Operations

The following table represents summarized income statement information of discontinued operations (in millions):


	Three Months Ended
	December 31, 2025		December 31, 2024

Revenue	$	—	$	42.6
Cost of revenue	—		50.3
Gross loss	—		(7.7)
Equity in losses of joint ventures	(0.5)		—
Loss on disposal activities	(66.3)		(4.9)

Loss from operations	(66.8)		(12.6)
Other expense	(0.4)		(0.4)
Loss before taxes	(67.2)		(13.0)
Income tax benefit	(1.3)		(3.4)
Net loss from discontinued operations	$	(65.9)	$	(9.6)

The significant components included in our Consolidated Statement of Cash Flows for the discontinued operations are as follows (in millions):


	Three Months Ended
	December 31, 2025		December 31, 2024

Payments for capital expenditures	$	—	$	(0.4)

Schedule of Changes in Carrying Value of Goodwill by Reportable Segment

The changes in the carrying value of goodwill by reportable segment for the three months ended December 31, 2025 were as follows:


	September 30, 2025		Foreign Exchange Impact		Post-Acquisition Adjustments		December 31, 2025
	(in millions)
Americas	$	2,770.4	$	2.6	$	46.6	$	2,819.6
International	930.2		1.1		22.9		954.2
Total	$	3,700.6	$	3.7	$	69.5	$	3,773.8

Schedule of Gross Amount and Accumulated Amortization of Acquired Identifiable Intangible Assets with Finite Useful Lives


	December 31, 2025						September 30, 2025
	Gross Amount		Accumulated Amortization		Intangible Assets, Net		Gross Amount		Accumulated Amortization		Intangible Assets, Net		Amortization Period
	(in millions)												(years)
Backlog and Customer relationships	$	7.4	$	(2.9)	$	4.5	$	7.4	$	(2.5)	$	4.9	1 - 11
Digital assets	188.0		(12.5)		175.5		178.4		—		178.4		5
Total	$	195.4	$	(15.4)	$	180.0	$	185.8	$	(2.5)	$	183.3

Schedule of Future Amortization Expense of Intangible Assets

The following table presents estimated amortization expense of existing intangible assets for the remainder of fiscal 2026 and for the succeeding years:


Fiscal Year	(in millions)
2026 (nine months remaining)	$	29.3
2027	39.1
2028	39.1
2029	38.0
2030	34.5

Total	$	180.0

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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- Definition

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+ Details

Reportable Segments - Schedule of Reconciles Total Segment Attributable Earnings Before Taxes and Amortization to Income From Continuing Operations Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting [Abstract]
Total segment attributable earnings before taxes and amortization	$ 288,100	$ 269,900
General and administrative expenses	(39,100)	(38,100)
Restructuring and acquisition costs	(27,933)	0
Other income	4,000	3,700
Interest income	13,741	16,564
Interest expense	(45,266)	(43,034)
Amortization expense	(12,900)	(1,100)
Income attributable to noncontrolling interests from continuing operations	17,700	10,000
Income from continuing operations before taxes	$ 198,339	$ 217,952

Discontinued Operations, Goodwill and Intangible Assets - Narrative (Details) $ in Thousands			3 Months Ended			12 Months Ended
	Jan. 31, 2020	Dec. 06, 2019 USD ($)	Dec. 31, 2025 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)	Sep. 30, 2025 USD ($) acquisition	Jun. 30, 2024 USD ($)	Dec. 31, 2014 USD ($)	Feb. 28, 2011 USD ($)
Basis of presentation
Non-cash loss on disposal activities			$ 61,800		$ 0
Noncurrent assets held for sale			13,953			$ 18,953
Amortization expense of acquired intangible assets			12,900		$ 1,100
2025 Acquisitions
Basis of presentation
Number of business acquisitions \| acquisition						2
Total consideration						$ 375,900
Stock consideration						146,400
Task Order, Deactivation Demolition And Removal Service
Basis of presentation
Percentage of claim recoveries due to purchaser	10.00%
Percentage of claim recoveries due to seller	90.00%
Refinery Turnaround Project
Basis of presentation
Loss from reduction in expected future net cash proceeds				$ 53,000
Department of Energy \| Task Order, Deactivation Demolition And Removal Service
Basis of presentation
Maximum project cost to pay									$ 106,000
Additional fees on changed work scope		$ 60,400						$ 103,000
Non-cash loss on disposal activities			61,800
Department of Energy \| Task Order, Deactivation Demolition And Removal Service \| Minimum \| Former Affiliate
Basis of presentation
Damages sought		148,500
Department of Energy \| Task Order, Deactivation Demolition And Removal Service \| Maximum \| Former Affiliate
Basis of presentation
Damages sought		$ 329,400
Former Affiliate and DOE \| Task Order, Deactivation Demolition And Removal Service
Basis of presentation
Maximum project cost to pay									146,000
Minimum project cost to pay									106,000
Former Affiliate \| Task Order, Deactivation Demolition And Removal Service
Basis of presentation
Minimum project cost to pay									$ 146,000
Held for Sale
Basis of presentation
Equity method investment			14,000
Noncurrent assets held for sale			14,000			$ 19,000
Held for Sale \| Revolving Credit Facility
Basis of presentation
Investment commitment to fund							$ 30,000
Fund outflow in other investing activities and outstanding			$ 23,200

Reportable Segments - Schedule of Financial Information Concerning the Company's Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Revenue	$ 3,830,834	$ 4,014,152
Employee compensation expense	(1,323,100)	(1,275,200)
Equity in earnings of joint ventures	9,827	9,553
Other segment items	(249,500)	(265,900)
Earnings before income taxes and amortization	288,100	269,900
Total
Segment Reporting Information [Line Items]
Subcontractor and other direct costs	(1,979,900)	(2,212,800)
Operating Segments \| Americas
Segment Reporting Information [Line Items]
Revenue	2,977,300	3,112,000
Subcontractor and other direct costs	(1,862,600)	(2,061,000)
Employee compensation expense	(756,000)	(708,400)
Equity in earnings of joint ventures	4,500	5,500
Other segment items	(155,600)	(154,600)
Earnings before income taxes and amortization	207,600	193,500
Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	853,500	902,000
Subcontractor and other direct costs	(117,300)	(151,800)
Employee compensation expense	(567,100)	(566,800)
Equity in earnings of joint ventures	4,600	2,900
Other segment items	(92,100)	(108,900)
Earnings before income taxes and amortization	81,600	77,400
Operating Segments \| AECOM Capital
Segment Reporting Information [Line Items]
Revenue	0	200
Subcontractor and other direct costs	0	0
Employee compensation expense	0	0
Equity in earnings of joint ventures	700	1,200
Other segment items	(1,800)	(2,400)
Earnings before income taxes and amortization	$ (1,100)	$ (1,000)

Share-based Payments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense related to share-based payments	$ 16.0	$ 16.8
Unrecognized compensation expense	$ 143.8		$ 106.7
Recognition period of unrecognized compensation expense (in years)	3 years		3 years
PEP Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period (in years)	3 years

- Definition

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Schedule of Additional Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Assets:
Operating lease assets	$ 448,370	$ 463,479
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating lease assets	Operating lease assets
Finance lease assets	$ 71,500	$ 74,400
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total lease assets	$ 519,900	$ 537,900
Current:
Operating lease liabilities	$ 129,400	$ 132,400
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Finance lease liabilities	$ 32,300	$ 31,900
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Total current lease liabilities	$ 161,700	$ 164,300
Non-current:
Operating lease liabilities	$ 498,398	$ 515,998
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating lease liabilities	Operating lease liabilities
Finance lease liabilities	$ 41,200	$ 44,300
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Total non-current lease liabilities	$ 539,600	$ 560,300
Weighted average remaining lease term (in years):
Operating leases (in years)	5 years 10 months 24 days	6 years 1 month 6 days
Finance leases (in years)	2 years 7 months 6 days	2 years 8 months 12 days
Weighted average discount rates:
Operating leases (as percent)	5.30%	5.20%
Finance leases (as percent)	4.80%	4.80%

Reclassifications out of Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Balances and Reporting Period Activities Related to Reclassifications Out of Accumulated Other Comprehensive Loss

The accumulated balances and reporting period activities for the three months ended December 31, 2025 and 2024 related to reclassifications out of accumulated other comprehensive loss are summarized as follows (in millions):


	Pension Related Adjustments		Foreign Currency Translation Adjustments		Gain/(Loss) on Derivative Instruments		Accumulated Other Comprehensive Loss
Balances at September 30, 2025	$	(251.4)	$	(652.4)	$	10.8	$	(893.0)
Other comprehensive (loss) income before reclassification	0.4		5.3		0.5		6.2
Amounts reclassified from accumulated other comprehensive (loss) income	0.6				(1.8)		(1.2)
Balances at December 31, 2025	$	(250.4)	$	(647.1)	$	9.5	$	(888.0)


	Pension Related Adjustments		Foreign Currency Translation Adjustments		Gain/(Loss) on Derivative Instruments		Accumulated Other Comprehensive Loss
Balances at September 30, 2024	$	(252.0)	$	(646.5)	$	15.8	$	(882.7)
Other comprehensive (loss) income before reclassification	13.8		(105.5)		11.9		(79.8)
Amounts reclassified from accumulated other comprehensive (loss) income	0.5		—		(2.8)		(2.3)
Balances at December 31, 2024	$	(237.7)	$	(752.0)	$	24.9	$	(964.8)

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company records amounts representing its probable estimated liabilities relating to claims, guarantees, litigation, audits and investigations. The Company relies in part on qualified actuaries to assist it in determining the level of reserves to establish for insurance-related claims that are known and have been asserted against it, and for insurance-related claims that are believed to have been incurred based on actuarial analysis, but have not yet been reported to the Company’s claims administrators as of the respective balance sheet dates. The Company includes any adjustments to such insurance reserves in its consolidated results of operations. The Company’s reasonably possible loss disclosures are presented on a gross basis prior to the consideration of insurance recoveries. The Company does not record gain contingencies until they are realized. In the ordinary course of business, the Company may not be aware that it or its affiliates are under investigation and may not be aware of whether or not a known investigation has been concluded. In the ordinary course of business, the Company may enter into various arrangements providing financial or performance assurance to clients, lenders, or partners. Such arrangements include standby letters of credit, surety bonds, and corporate guarantees to support the creditworthiness or the project execution commitments of its affiliates, partnerships and joint ventures. The Company’s unsecured credit arrangements are used for standby letters of credit issued in connection with general and professional liability insurance programs and for contract performance guarantees. At December 31, 2025 and September 30, 2025, these outstanding standby letters of credit totaled $926.6 million and $899.4 million, respectively. As of December 31, 2025, the Company had $399.0 million available under these unsecured credit facilities. Performance arrangements typically have various expiration dates ranging from the completion of the project contract and extending beyond contract completion in some circumstances such as for warranties. The Company may also guarantee that a project, when complete, will achieve specified performance standards. If the project subsequently fails to meet guaranteed performance standards, the Company may incur additional costs, pay liquidated damages or be held responsible for the costs incurred by the client to achieve the required performance standards. The potential payment amount of an outstanding performance arrangement is typically the remaining cost of work to be performed by or on behalf of third parties. Generally, under joint venture arrangements, if a partner is financially unable to complete its share of the contract, the other partner(s) may be required to complete those activities. At December 31, 2025, the Company was contingently liable in the amount of approximately $931.0 million in issued standby letters of credit and $6.3 billion in issued surety bonds primarily to support project execution. In the ordinary course of business, the Company enters into various agreements providing financial or performance assurances to clients on behalf of certain unconsolidated partnerships, joint ventures and other jointly executed contracts. These agreements are entered into primarily to support the project execution commitments of these entities. The Company’s investment adviser jointly manages and sponsors the AECOM-Canyon Equity Fund, L.P. (the “Fund”), in which the Company indirectly holds an equity interest and has an ongoing capital commitment to fund investments. At December 31, 2025, the Company has capital commitments of $5.1 million to the Fund over the next 3 years. In addition, in connection with the investment activities of AECOM Capital, the Company provides guarantees of certain contractual obligations, including guarantees for completion of projects, limited debt repayment, environmental indemnity obligations and other lender required guarantees. In February 2024, the Company was informed of a potential liability as one of the indemnitors on a divested business’ surety bonds. The Company does not have sufficient information to determine the range of potential impacts; however, it is reasonably possible that the Company may incur additional costs related to these bonds. In connection with the resolution of contingencies related to the sale of the civil infrastructure construction business, the Company agreed to act as an additional guarantor on the counterparty’s existing debt, which was extended to March 2028.

Joint Ventures and Variable Interest Entities - Schedule of Financial Information of Consolidated Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024
Joint Ventures and Variable Interest Entities [Line Items]
Current assets	$ 6,491,903	$ 6,730,227
TOTAL ASSETS	11,940,036	12,200,249
Current liabilities	5,881,810	5,928,816
TOTAL LIABILITIES	9,494,281	9,504,065
Total AECOM deficit	2,231,942	2,492,584
Noncontrolling interests	213,813	203,600
Total owners’ equity	2,445,755	2,696,184	$ 2,399,543	$ 2,370,410
Total liabilities and owners’ equity	11,940,036	12,200,249
Consolidated Joint Ventures
Joint Ventures and Variable Interest Entities [Line Items]
Current assets	754,000	699,000
Non-current assets	81,800	84,400
TOTAL ASSETS	835,800	783,400
Current liabilities	636,300	591,400
Non-current liabilities	5,600	5,700
TOTAL LIABILITIES	641,900	597,100
Total AECOM deficit	(18,500)	(15,900)
Noncontrolling interests	212,400	202,200
Total owners’ equity	193,900	186,300
Total liabilities and owners’ equity	$ 835,800	$ 783,400

Leases (Tables)

3 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Components of Lease Expenses

The components of lease expenses are as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Operating lease cost	$	36.9	$	36.9
Finance lease cost:
Amortization of right-of-use assets	8.9		8.1
Interest on lease liabilities	1.0		0.9
Variable lease cost	8.3		8.2
Total lease cost	$	55.1	$	54.1

Additional cash flow information related to leases is as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	43.1	$	41.9
Operating cash flows from finance leases	1.0		0.9
Financing cash flows from finance leases	8.6		7.5
Right-of-use assets obtained in exchange for new operating leases	12.4		21.6
Right-of-use assets obtained in exchange for new finance leases	5.7		17.9

Schedule of Additional Balance Sheet Information Related to Leases

Additional balance sheet information related to leases is as follows:


		As of		As of
(in millions except as noted)	Balance Sheet Classification	December 31, 2025		September 30, 2025
Assets:
Operating lease assets	Operating lease right-of-use assets	$	448.4	$	463.5
Finance lease assets	Property and equipment – net	71.5		74.4
Total lease assets		$	519.9	$	537.9

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	129.4	$	132.4
Finance lease liabilities	Current portion of long-term debt	32.3		31.9
Total current lease liabilities		161.7		164.3
Non-current:
Operating lease liabilities	Operating lease liabilities, noncurrent	498.4		516.0
Finance lease liabilities	Long-term debt	41.2		44.3
Total non-current lease liabilities		$	539.6	$	560.3


	As of		As of
	December 31, 2025		September 30, 2025
Weighted average remaining lease term (in years):
Operating leases	5.9		6.1
Finance leases	2.6		2.7
Weighted average discount rates:
Operating leases	5.3	%	5.2	%
Finance leases	4.8	%	4.8	%

Schedule of Operating Lease, Liability, to be Paid, Maturity

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2026 (nine months remaining)	$	123.3	$	26.9
2027	139.5		27.8
2028	121.2		17.6
2029	99.9		6.1
2030	76.8		0.2
Thereafter	176.7		—
Total lease payments	$	737.4	$	78.6
Less: Amounts representing interest	$	(109.6)	$	(5.1)
Total lease liabilities	$	627.8	$	73.5

Schedule of Finance Lease, Liability, to be Paid, Maturity

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2026 (nine months remaining)	$	123.3	$	26.9
2027	139.5		27.8
2028	121.2		17.6
2029	99.9		6.1
2030	76.8		0.2
Thereafter	176.7		—
Total lease payments	$	737.4	$	78.6
Less: Amounts representing interest	$	(109.6)	$	(5.1)
Total lease liabilities	$	627.8	$	73.5

Other Financial Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Other Financial Information [Abstract]
Accrued salaries and benefits	$ 566,200	$ 727,000
Accrued contract costs	1,479,200	1,419,000
Other accrued expenses	359,200	344,500
Total	$ 2,404,554	$ 2,490,480

Discontinued Operations, Goodwill and Intangible Assets - Schedule of Income Statement Information of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net loss from discontinued operations	$ (65,904)	$ (9,516)
Held for Sale
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Revenue	0	42,600
Cost of revenue	0	50,300
Gross loss	0	(7,700)
Equity in losses of joint ventures	(500)	0
Loss on disposal activities	(66,300)	(4,900)
Loss from operations	(66,800)	(12,600)
Other expense	(400)	(400)
Loss before taxes	(67,200)	(13,000)
Income tax benefit	(1,300)	(3,400)
Net loss from discontinued operations	$ (65,900)	$ (9,600)

Pension Benefit Obligations - Schedule of Components of Net Periodic Cost for Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
U.S.
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ 1.9	$ 2.0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Expected return on plan assets	$ (1.3)	$ (1.2)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Amortization of net loss (gain)	$ 1.0	$ 0.9
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Net periodic benefit cost (credit)	$ 1.6	$ 1.7
Int’l
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ 10.0	$ 9.9
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Expected return on plan assets	$ (13.8)	$ (12.8)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Amortization of net loss (gain)	$ (0.1)	$ (0.3)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income	Other income
Net periodic benefit cost (credit)	$ (3.9)	$ (3.2)

Derivative Financial Instruments and Fair Value Measurements - Schedule of Notional Principle, Fixed Rates and Expiration Dates of Outstanding Interest Rate Swap Agreements (Details) - February 2023 - USD - Interest Rate Swap - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Millions	Dec. 31, 2025	Sep. 30, 2025
Derivative [Line Items]
Notional Amount	$ 400.0	$ 400.0
Fixed Rate (as percent)	1.283%	1.283%

Debt

3 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Debt

Debt consisted of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Credit Agreement	$	1,438.2	$	1,439.9
2033 Senior Notes	1,200.0		1,200.0
Other debt	100.3		103.8
Total debt	2,738.5		2,743.7
Less: Current portion of debt and short-term borrowings	(65.9)		(66.3)
Less: Unamortized debt issuance costs	(28.8)		(30.2)
Long-term debt	$	2,643.8	$	2,647.2

The following table presents, in millions, scheduled maturities of the Company’s debt as of December 31, 2025:


Fiscal Year
2026 (nine months remaining)	$	56.5
2027	32.6
2028	23.6
2029	762.7
2030	7.0
Thereafter	1,856.1
Total	$	2,738.5

Credit Agreement

On April 19, 2024, the Company entered into Amendment No. 14 to Syndicated Facility Agreement (as amended, modified or otherwise supplemented, the "Credit Agreement"), pursuant to which the Company obtained a new $1,500,000,000 revolving credit facility (the “New Revolving Credit Facility”), a new $750,000,000 term loan A facility (the “New Term A Facility” and, together with the New Revolving Credit Facility, the “New Pro Rata Facilities”) and a new $700,000,000 term loan B facility (the “New Term B Facility” and, together with the New Pro Rata Facilities, the “New Credit Facilities”). The New Revolving Credit Facility and the New Term A Facility mature on April 19, 2029. The New Term B Facility matures on April 19, 2031. The New Term A Facility and the New Term B Facility were borrowed in full on April 19, 2024 in U.S. dollars. Loans under the New Revolving Credit Facility may be borrowed, and letters of credit thereunder may be issued, in U.S. dollars or in certain foreign currencies. The New Credit Facilities replace in full the Company's existing revolving credit facility, term loan A facility and term loan B facility, and borrowings under the New Credit Facilities were used to refinance in full the Company's existing credit facilities and for general corporate purposes. The Credit Agreement permits the Company to designate certain of its subsidiaries as additional co-borrowers from time to time. Currently, there are no co-borrowers under the New Credit Facilities. On October 29, 2024, the Company entered into Amendment No. 15 to Syndicated Facility Agreement, pursuant to which the Company reduced the interest rate spread applicable to its New Term B Facility.

Borrowings under (a) the New Revolving Credit Facility (in U.S. dollars) and the New Term A Facility bear interest at a rate per annum equal to, at the Company’s option, (i) a Term SOFR rate (with a 0% floor and SOFR adjustment of 0.10%) or (ii) a base rate (with a 0% floor), in each case, plus an applicable margin of 1.225% in the case of the Term SOFR rate and 0.225% in the case of the base rate, and (b) the New Revolving Credit Facility in currencies other than U.S. dollars bear interest at a rate per annum equal to the applicable reference rate for such currency (including any related adjustments), plus an applicable margin of 1.225%. The applicable margin is subject, in each case, to adjustment based on the Company’s consolidated leverage ratio from time to time.

Borrowings under the New Term B Facility, after giving effect to Amendment No. 15 to Syndicated Facility Agreement, bear interest at a rate per annum equal to, at the Company’s option, (a) a Term SOFR rate (with a 0% floor and a SOFR adjustment of 0%) or (b) a base rate (with a 0% floor), in each case, plus an applicable margin of 1.75% in the case of the Term SOFR rate and 0.75% in the case of the base rate.

Certain of the Company’s material subsidiaries (the “Guarantors”) have guaranteed the Company’s obligations of the borrowers under the Credit Agreement, subject to certain exceptions. The borrowers’ obligations under the Credit Agreement are secured by a lien on substantially all of the Company’s assets and its Guarantors’ assets, subject to certain exceptions.

The Credit Agreement contains customary negative covenants that include, among other things, limitations on the ability of the Company and certain of its subsidiaries, subject to certain exceptions, to incur liens and debt, make investments, dispositions, and restricted payments, change the nature of their business, consummate mergers, consolidations and the sale of all or substantially all of their respective assets and transact with affiliates. The Company is also required to maintain a consolidated leverage ratio of less than or equal to 4.00 to 1.00 (subject to certain adjustments in connection with permitted acquisitions), tested on a quarterly basis (the “Financial Covenant”). The Financial Covenant does not apply to the New Term B Facility. As of December 31, 2025, the Company was in compliance with the covenants of the Credit Agreement.

The Credit Agreement contains customary affirmative covenants, including, among other things, compliance with applicable law, preservation of existence, maintenance of properties and of insurance, and keeping proper books and records. The Credit Agreement contains customary events of default, including, among other things, nonpayment of principal, interest or fees, cross-defaults to other debt, inaccuracies of representations and warranties, failure to perform covenants, events of bankruptcy and insolvency, change of control and unsatisfied judgments, subject in certain cases to notice and cure periods and other exceptions.

At December 31, 2025 and September 30, 2025, letters of credit totaled $4.4 million and $4.4 million, respectively, under the Company’s New Revolving Credit Facility. As of December 31, 2025 and September 30, 2025, the Company had $1,495.6 million and $1,495.6 million, respectively, available under its New Revolving Credit Facility.

2027 Senior Notes

On February 21, 2017, the Company completed a private placement offering of $1,000,000,000 aggregate principal amount of its unsecured 5.125% Senior Notes due 2027 (the “2027 Senior Notes”). On June 30, 2017, the Company completed an exchange offer to exchange the unregistered 2027 Senior Notes for registered notes, as well as related guarantees. In July 2025, the Company used a portion of the proceeds of the 2033 Senior Notes (defined below) to purchase $732,914,000 in principal amount of the 2027 Senior Notes that were validly tendered and not validly withdrawn at or prior to the expiration date of the tender offer for the 2027 Senior Notes. In August 2025, the Company redeemed the remaining 2027 Senior Notes with a portion of the proceeds of the 2033 Senior Notes. The purchase and redemption included an aggregate make-whole payment of $9.1 million.

2033 Senior Notes

On July 22, 2025, the Company completed an offering of $1,200,000,000 aggregate principal amount of its 6.000% Senior Notes due 2033 (the “2033 Senior Notes”). As of December 31, 2025, the estimated fair value of the 2033 Senior Notes was approximately $1,222.5 million. The fair value of the 2033 Senior Notes as of December 31, 2025 was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary bond market and multiplying it by the outstanding balance of the 2033 Senior Notes.

Interest will be payable on the 2033 Senior Notes at a rate of 6.000% per annum. Interest on the 2033 Senior Notes will be payable semi-annually in arrears on February 1 and August 1 of each year, commencing on February 1, 2026. The 2033 Senior Notes will mature on August 1, 2033.

Prior to August 1, 2028, the Company may redeem all or part of the 2033 Senior Notes at a redemption price equal to 100% of the principal amount to be redeemed, plus a “make whole” premium as of the redemption date, and accrued and unpaid interest to, but excluding, the redemption date. In addition, prior to August 1, 2028, the Company may redeem up to 40% of the aggregate principal amount of the 2033 Senior Notes with proceeds from certain equity offerings at a redemption price equal to 106% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Furthermore, at any time on or after August 1, 2028, the Company may redeem on one or more occasions all or part of the 2033 Senior Notes at the redemption prices set forth below, plus accrued and unpaid interest thereon to, but excluding, the redemption date, if redeemed during the 12-month period beginning on August 1 of each of the years indicated below:

Percentage

2028 ................................................................................................................... 103.000%

2029 ................................................................................................................... 101.500%

2030 and thereafter ................................................................................................ 100.000%

The indenture pursuant to which the 2033 Senior Notes were issued contains customary events of default, including, among other things, payment default, failure to provide certain notices thereunder and certain provisions related to bankruptcy events. The indenture also contains customary negative covenants.

The Company was in compliance with the covenants related to the 2033 Senior Notes as of December 31, 2025.

Other Debt and Other Items

Other debt consists primarily of obligations under capital leases and loans, and unsecured credit facilities. The Company’s unsecured credit facilities are primarily used for standby letters of credit issued in connection with general and professional liability insurance programs and for contract performance guarantees. At December 31, 2025 and September 30, 2025, these outstanding standby letters of credit totaled $926.6 million and $899.4 million, respectively. As of December 31, 2025, the Company had $399.0 million available under these unsecured credit facilities.

Effective Interest Rate

The Company’s average effective interest rate on its total debt, including the effects of the interest rate swap and interest rate cap agreements, during the three months ended December 31, 2025 and 2024 was 5.3% and 5.2%, respectively.

Interest expense in the consolidated statements of operations included amortization of deferred debt issuance costs for the three months ended December 31, 2025 of $1.4 million, and for the three months ended December 31, 2024 of $1.4 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Joint Ventures and Variable Interest Entities - Schedule of Financial Information of Unconsolidated Joint Ventures Derived from Unaudited Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Joint Ventures and Variable Interest Entities [Line Items]
Current assets	$ 6,491,903		$ 6,730,227
Total assets	11,940,036		12,200,249
Current liabilities	5,881,810		5,928,816
Total liabilities	9,494,281		9,504,065
Joint ventures’ equity	2,445,755	$ 2,399,543	2,696,184	$ 2,370,410
Total liabilities and owners’ equity	11,940,036		12,200,249
AECOM’s investment in unconsolidated joint ventures	146,485		138,056
Joint ventures summarized financial information
Revenue	3,830,834	4,014,152
Cost of revenue	3,549,844	3,745,748
Gross profit	280,990	268,404
Net income	93,352	179,204
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Joint Ventures and Variable Interest Entities [Line Items]
Current assets	1,557,500		1,537,700
Non-current assets	675,300		708,000
Total assets	2,232,800		2,245,700
Current liabilities	1,095,500		1,107,800
Non-current liabilities	113,000		92,400
Total liabilities	1,208,500		1,200,200
Joint ventures’ equity	1,024,300		1,045,500
Total liabilities and owners’ equity	2,232,800		2,245,700
AECOM’s investment in unconsolidated joint ventures	146,500		$ 138,100
Joint ventures summarized financial information
Revenue	768,700	727,700
Cost of revenue	731,800	691,600
Gross profit	36,900	36,100
Net income	$ 35,400	$ 36,800

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Sep. 30, 2025
Fund Investment Capital
Commitments and Contingencies [Line Items]
Capital commitments	$ 5.1
Commitment period (in years)	3 years
Standby Letters of Credit
Commitments and Contingencies [Line Items]
Outstanding standby letters of credit	$ 926.6	$ 899.4
Amount available under unsecured credit facilities	399.0
Contingently liable for issuance of standby letters of credit and surety bonds	931.0
Surety Bond
Commitments and Contingencies [Line Items]
Contingently liable for issuance of standby letters of credit and surety bonds	$ 6,300.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 9
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Earnings Per Share

3 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share (EPS) excludes dilution and is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding and potential common shares for the period. The Company includes as potential common shares the weighted average dilutive effects of equity awards using the treasury stock method. For the three months ended December 31, 2025 and 2024, equity awards excluded from the calculation of potential common shares were not significant.

The following table sets forth a reconciliation of the denominators for basic and diluted earnings per share:


	Three Months Ended
	December 31, 2025	December 31, 2024
	(in millions)
Denominator for basic earnings per share	130.9	132.5
Potential common shares	1.1	1.1
Denominator for diluted earnings per share	132.0	133.6

Revenue Recognition - Schedule of Net Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Sep. 30, 2025
Revenue from Contract with Customer [Abstract]
Billed	$ 1,755,800	$ 1,934,300
Contract retentions	680,500	647,600
Total accounts receivable—gross	2,436,300	2,581,900
Allowance for doubtful accounts and credit losses	(87,900)	(84,800)
Total accounts receivable—net	$ 2,348,427	$ 2,497,147

Reportable Segments - Schedule of Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025
Summarized financial information concerning the Company's reportable segments
Total assets	$ 11,940,036		$ 12,200,249
Investments in unconsolidated joint ventures	146,485		138,056
Capital expenditures	28,000		54,800
Depreciation and amortization	(52,036)	$ (42,297)	(42,300)
Operating Segments \| Americas
Summarized financial information concerning the Company's reportable segments
Total assets	7,797,600		7,866,900
Investments in unconsolidated joint ventures	49,300		44,000
Capital expenditures	15,400		36,000
Depreciation and amortization	(39,200)		(23,300)
Operating Segments \| International
Summarized financial information concerning the Company's reportable segments
Total assets	2,816,400		2,702,900
Investments in unconsolidated joint ventures	63,800		56,600
Capital expenditures	12,200		17,600
Depreciation and amortization	(10,500)		(16,800)
Operating Segments \| AECOM Capital
Summarized financial information concerning the Company's reportable segments
Total assets	35,100		41,600
Investments in unconsolidated joint ventures	33,400		37,500
Capital expenditures	0		0
Depreciation and amortization	0		0
Corporate and Assets Held for Sale
Summarized financial information concerning the Company's reportable segments
Total assets	1,290,900		1,588,800
Investments in unconsolidated joint ventures	0		0
Capital expenditures	400		1,200
Depreciation and amortization	$ (2,300)		$ (2,200)

Reportable Segments - Narrative (Details)	3 Months Ended
Reportable Segments - Narrative (Details)	Dec. 31, 2025 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Share-based Payments (Tables)

3 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Units and PEP Units Activity

Restricted stock units and PEP unit activity for the three months ended December 31 was as follows:


	2025						2024
	Restricted Stock Units	Weighted Average Grant-Date Fair Value		PEP Units	Weighted Average Grant-Date Fair Value		Restricted Stock Units	Weighted Average Grant-Date Fair Value		PEP Units	Weighted Average Grant-Date Fair Value
	(in millions)			(in millions)			(in millions)			(in millions)
Outstanding at September 30,	0.7	$	95.64	0.6	$	109.74	0.8	$	83.96	0.7	$	95.38
Granted	0.3	$	97.98	0.3	$	90.09	0.2	$	111.45	0.2	$	129.50
PEP units earned	—	$	—	0.1	$	94.82	—	$	—	0.1	$	85.46
Vested	(0.2)	$	83.30	(0.3)	$	94.82	(0.2)	$	74.63	(0.3)	$	85.46
Cancelled	0.0	$	86.63	0.0	$	105.03	0.0	$	84.14	0.0	$	104.43
Outstanding at December 31,	0.8	$	99.99	0.7	$	106.74	0.8	$	95.45	0.7	$	109.68

Discontinued Operations, Goodwill and Intangible Assets - Schedule of Significant Components Included in Statement of Cash Flows for Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Held for Sale
Discontinued Operations, Goodwill and Intangible Assets [Line Items]
Payments for capital expenditures	$ 0.0	$ (0.4)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 93,352	$ 179,204
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	52,036	42,297	$ 42,300
Equity in earnings of unconsolidated joint ventures	(9,377)	(9,553)
Distribution of earnings from unconsolidated joint ventures	5,297	2,754
Non-cash stock compensation	16,011	16,823
Non-cash net fair value gains	(5,091)	(4,957)
Non-cash loss on disposal activities	61,800	0
Foreign currency translation	616	(28,671)
Other	(151)	130
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable and contract assets	(101,572)	161,509
Prepaid expenses and other assets	35,273	36,438
Accounts payable	28,660	(214,900)
Accrued expenses and other current liabilities	(93,133)	631
Contract liabilities	3,742	7,313
Other long-term liabilities	(17,244)	(37,929)
Net cash provided by operating activities	70,219	151,089
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in unconsolidated joint ventures	(24,246)	(976)
Return of investment in unconsolidated joint ventures	28,710	105
Other investing activities	(11,000)	16,250
Proceeds from disposal of property and equipment	31	94
Payments for capital expenditures	(28,318)	(40,215)
Net cash used in investing activities	(34,823)	(24,742)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	873,484	664,815
Repayments of borrowings under credit agreements	(884,626)	(673,769)
Cash paid for debt issuance costs	(6)	(687)
Dividends paid	(35,356)	(29,141)
Proceeds from issuance of common stock	11,394	5,693
Payments to repurchase common stock	(325,866)	(55,155)
Net distributions to noncontrolling interests	(8,711)	(29,609)
Other financing activities	(4,545)	(3,477)
Net cash used in financing activities	(374,232)	(121,330)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(216)	(5,153)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(339,052)	(136)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,585,739	1,584,862	1,584,862
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,246,687	1,584,726	$ 1,585,739
LESS CASH AND CASH EQUIVALENTS INCLUDED IN CURRENT ASSETS HELD FOR SALE	0	(4,070)
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS AT END OF PERIOD	$ 1,246,687	$ 1,580,656

New Accounting Pronouncements and Changes in Accounting	3 Months Ended
New Accounting Pronouncements and Changes in Accounting	Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements and Changes in Accounting	New Accounting Pronouncements and Changes in Accounting In December 2023, the Financial Accounting Standard Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance the income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The update also includes certain other amendments to improve the effectiveness of income tax disclosures. The standard is effective for the Company for its annual financial statements in fiscal year 2026 and can be applied either prospectively or retrospectively. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03 requiring public entities to provide disaggregated disclosures in the notes of the financial statements of certain categories of expenses that are included in expense line items on the face of the income statement on an interim basis. The new guidance is effective for the Company for its annual financial statements in fiscal year 2027 and for its interim financial statements in fiscal year 2028, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this new guidance will have on its financial statements. In September 2025, the FASB issued ASU 2025-06 to clarify and modernize the accounting for costs related to internal-use software. The guidance removes references to project stages used in ASC 250-40 and clarifies the threshold entities should apply to begin capitalizing internal-use software costs. The new guidance is effective for the Company starting October 1, 2028. The Company adopted new guidance in the first quarter of fiscal year 2026 using the prospective approach. Adoption of this new guidance did not have a material impact on the Company's financial statements. In December 2025, the FASB issued ASU 2025-10 to provide authoritative guidance related to the recognition, measurement, presentation and disclosure of government grants received by business entities. Previously, GAAP lacked specific provisions, leading to diverse practices based on analogies to IAS 20, ASC 958-605, or ASC 250. The new guidance is effective for the Company in fiscal year 2029. The Company adopted the new guidance in the first quarter of fiscal year 2026 using a modified prospective approach. Adoption of this new guidance did not have a material impact on the Company's financial statements. In December 2025, the FASB issued ASU 2025-11 that clarifies and improves the guidance for interim financial reporting by providing a list of required interim disclosures, clarifying the applicability of interim reporting requirements, and introducing a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The new guidance is effective for the Company starting October 1, 2028, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this new guidance will have on its financial presentation.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2025	Sep. 30, 2025
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	129,286,286	131,782,371
Common stock, shares outstanding (in shares)	129,286,286	131,782,371

Derivative Financial Instruments and Fair Value Measurements - Schedule of Changes in Fair Value of Level 3 Investment Assets (Details) - Credit facility investment including accrued interest $ in Millions	3 Months Ended
	Dec. 31, 2025 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 17.4
Investment Gains/(Losses)	(0.8)
Interest Earned	0.4
Loans	6.0
Collections
Ending Balance	$ 23.0

Reclassifications out of Accumulated Other Comprehensive Loss

3 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Reclassifications out of Accumulated Other Comprehensive Loss


	Pension Related Adjustments		Foreign Currency Translation Adjustments		Gain/(Loss) on Derivative Instruments		Accumulated Other Comprehensive Loss
Balances at September 30, 2025	$	(251.4)	$	(652.4)	$	10.8	$	(893.0)
Other comprehensive (loss) income before reclassification	0.4		5.3		0.5		6.2
Amounts reclassified from accumulated other comprehensive (loss) income	0.6				(1.8)		(1.2)
Balances at December 31, 2025	$	(250.4)	$	(647.1)	$	9.5	$	(888.0)


	Pension Related Adjustments		Foreign Currency Translation Adjustments		Gain/(Loss) on Derivative Instruments		Accumulated Other Comprehensive Loss
Balances at September 30, 2024	$	(252.0)	$	(646.5)	$	15.8	$	(882.7)
Other comprehensive (loss) income before reclassification	13.8		(105.5)		11.9		(79.8)
Amounts reclassified from accumulated other comprehensive (loss) income	0.5		—		(2.8)		(2.3)
Balances at December 31, 2024	$	(237.7)	$	(752.0)	$	24.9	$	(964.8)

Joint Ventures and Variable Interest Entities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Joint Ventures and Variable Interest Entities [Line Items]
Total revenue of consolidated joint ventures	$ 3,830,834	$ 4,014,152
Consolidated Joint Ventures
Joint Ventures and Variable Interest Entities [Line Items]
Total revenue of consolidated joint ventures	$ 431,200	$ 443,700

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases - Schedule of Components of Lease Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease cost	$ 36.9	$ 36.9
Finance lease cost:
Amortization of right-of-use assets	8.9	8.1
Interest on lease liabilities	1.0	0.9
Variable lease cost	8.3	8.2
Total lease cost	$ 55.1	$ 54.1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenues Disaggregated by Revenue Sources

The following tables present the Company’s revenues disaggregated by revenue sources:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Cost reimbursable	$	1,598.5	$	1,505.7
Guaranteed maximum price	1,350.2		1,527.4
Fixed-price	882.1		981.1
Total revenue	$	3,830.8	$	4,014.2


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Americas	$	2,977.2	$	3,112.1
Europe, Middle East, India, Africa	522.4		537.0
Asia-Australia-Pacific	331.2		365.1
Total revenue	$	3,830.8	$	4,014.2

Schedule of Net Accounts Receivable

Net accounts receivable consisted of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Billed	$	1,755.8	$	1,934.3
Contract retentions	680.5		647.6
Total accounts receivable—gross	2,436.3		2,581.9
Allowance for doubtful accounts and credit losses	(87.9)		(84.8)
Total accounts receivable—net	$	2,348.4	$	2,497.1

Debt - Effective Interest Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
Effective interest rate (as percent)	5.30%	5.20%
Amortization of deferred debt issuance costs	$ 1.4	$ 1.4

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
Earnings Per Share (Details) - shares shares in Thousands	Dec. 31, 2025	Dec. 31, 2024
Earnings Per Share [Abstract]
Denominator for basic earnings per share (in shares)	130,888	132,500
Potential common shares (in shares)	1,100	1,100
Denominator for diluted earnings per share (in shares)	131,982	133,625

Leases - Additional Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 43.1	$ 41.9
Operating cash flows from finance leases	1.0	0.9
Financing cash flows from finance leases	8.6	7.5
Right-of-use assets obtained in exchange for new operating leases	12.4	21.6
Right-of-use assets obtained in exchange for new finance leases	$ 5.7	$ 17.9

Revenue Recognition - Schedule of Revenues Disaggregated by Revenue Sources (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,830,834	$ 4,014,152
Americas
Disaggregation of Revenue [Line Items]
Total revenue	2,977,200	3,112,100
Europe, Middle East, India, Africa
Disaggregation of Revenue [Line Items]
Total revenue	522,400	537,000
Asia-Australia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	331,200	365,100
Cost reimbursable
Disaggregation of Revenue [Line Items]
Total revenue	1,598,500	1,505,700
Guaranteed maximum price
Disaggregation of Revenue [Line Items]
Total revenue	1,350,200	1,527,400
Fixed-price
Disaggregation of Revenue [Line Items]
Total revenue	$ 882,100	$ 981,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Joint Ventures and Variable Interest Entities (Tables)

3 Months Ended

Dec. 31, 2025

Joint Ventures and Variable Interest Entities [Abstract]

Schedule of Financial Information of Consolidated Joint Ventures

Summary of financial information of the consolidated joint ventures is as follows:


	December 31, 2025 (unaudited)		September 30, 2025
	(in millions)
Current assets	$	754.0	$	699.0
Non-current assets	81.8		84.4
Total assets	$	835.8	$	783.4

Current liabilities	$	636.3	$	591.4
Non-current liabilities	5.6		5.7
Total liabilities	641.9		597.1
Total AECOM deficit	(18.5)		(15.9)
Noncontrolling interests	212.4		202.2
Total owners’ equity	193.9		186.3
Total liabilities and owners’ equity	$	835.8	$	783.4

Schedule of Financial Information of Unconsolidated Joint Ventures

Summary of unaudited financial information of the unconsolidated joint ventures, as derived from their unaudited financial statements, was as follows:


	December 31, 2025		September 30, 2025
	(in millions)
Current assets	$	1,557.5	$	1,537.7
Non-current assets	675.3		708.0
Total assets	$	2,232.8	$	2,245.7

Current liabilities	$	1,095.5	$	1,107.8
Non-current liabilities	113.0		92.4
Total liabilities	1,208.5		1,200.2
Joint ventures’ equity	1,024.3		1,045.5
Total liabilities and joint ventures’ equity	$	2,232.8	$	2,245.7

AECOM’s investment in unconsolidated joint ventures	$	146.5	$	138.1


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Revenue	$	768.7	$	727.7
Cost of revenue	731.8		691.6
Gross profit	$	36.9	$	36.1
Net income	$	35.4	$	36.8

Summary of AECOM’s equity in earnings of unconsolidated joint ventures is as follows:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Pass-through joint ventures	$	9.1	$	8.4
Other joint ventures	0.7		1.2
Total	$	9.8	$	9.6

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Debt - Credit Agreement (Details) - USD ($)	Apr. 19, 2024	Dec. 31, 2025	Sep. 30, 2025
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Consolidated leverage ratio	4.00
New Revolving Credit Facility \| Other Currency
Debt Instrument [Line Items]
Interest rate, basis spread (as percent)	1.225%
New Revolving Credit Facility \| Base Rate \| USD
Debt Instrument [Line Items]
Debt instrument, floor rate (as percent)	0.00%
Interest rate, basis spread (as percent)	0.225%
New Revolving Credit Facility \| SOFR \| USD
Debt Instrument [Line Items]
Debt instrument, floor rate (as percent)	0.00%
Debt instrument, spread adjustment rate (as percent)	0.10%
Interest rate, basis spread (as percent)	1.225%
New Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500,000,000
New Term Loan A Facility \| Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 750,000,000
New Term Loan B Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument, floor rate (as percent)	0.00%
Interest rate, basis spread (as percent)	0.75%
New Term Loan B Facility \| SOFR
Debt Instrument [Line Items]
Debt instrument, floor rate (as percent)	0.00%
Debt instrument, spread adjustment rate (as percent)	0.00%
Interest rate, basis spread (as percent)	1.75%
New Term Loan B Facility \| Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000,000
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Outstanding standby letters of credit		$ 4,400,000	$ 4,400,000
Current borrowing capacity		$ 1,495,600,000	$ 1,495,600,000

Debt - Other Debt and Other Items (Details) - Other Debt - USD ($) $ in Millions	Dec. 31, 2025	Sep. 30, 2025
Unsecured
Debt Instrument [Line Items]
Current borrowing capacity	$ 399.0
Standby Letters of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit	$ 926.6	$ 899.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue Recognition

3 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The Company follows accounting principles for recognizing revenue upon the transfer of control of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company generally recognizes revenues over time as performance obligations are satisfied. The Company generally measures its progress to completion using an input measure of total costs incurred divided by total costs expected to be incurred, which it believes to be the best measure of progress towards completion of the performance obligation. In the course of providing its services, the Company routinely subcontracts for services and incurs other direct costs on behalf of its clients. These costs are passed through to clients and, in accordance with GAAP, are included in the Company’s revenue and cost of revenue. These pass-through revenues for the three months ended December 31, 2025 and 2024 were $2.0 billion and $2.2 billion, respectively.

Recognition of revenue and profit is dependent upon a number of factors, including the accuracy of a variety of estimates made at the balance sheet date, such as engineering progress, material quantities, the achievement of milestones, penalty provisions, labor productivity and cost estimates. Additionally, the Company is required to make estimates for the amount of consideration to be received, including bonuses, awards, incentive fees, claims, unpriced change orders, penalties, and liquidated damages. Variable consideration is included in the estimate of the transaction price only to the extent that a significant reversal would not be probable. Management continuously monitors factors that may affect the quality of its estimates, and material changes in estimates are disclosed accordingly. Costs attributable to claims are treated as costs of contract performance as incurred.

The following summarizes the Company’s major contract types:

Cost Reimbursable Contracts

Cost reimbursable contracts include cost-plus fixed fee, cost-plus fixed rate, and time-and-materials price contracts. Under cost-plus contracts, the Company charges clients for its costs, including both direct and indirect costs, plus a negotiated fee or rate. The Company recognizes revenue based on actual direct costs incurred and the applicable fixed rate or portion of the fixed fee earned as of the balance sheet date. Under time-and-materials price contracts, the Company negotiates hourly billing rates and charges its clients based on the actual time that it expends on a project. In addition, clients reimburse the Company for materials and other direct incidental expenditures incurred in connection with its performance under the contract. The Company may apply a practical expedient to recognize revenue in the amount in which it has the right to invoice if its right to consideration is equal to the value of performance completed to date.

Guaranteed Maximum Price Contracts (GMP)

GMP contracts share many of the same contract provisions as cost-plus and fixed-price contracts. As with cost-plus contracts, clients are provided a disclosure of all the project costs, and a lump sum or percentage fee is separately identified. The Company provides clients with a guaranteed price for the overall project (adjusted for change orders issued by clients) and a schedule including the expected completion date. Cost overruns or costs associated with project delays in completion could be the Company’s responsibility. For many of the Company’s GMP contracts, the final price is generally not established until the Company has subcontracted a substantial percentage of the trade contracts with terms consistent with the master contract, and it has negotiated additional contractual limitations, such as waivers of consequential damages as well as aggregate caps on liabilities and liquidated damages. Revenue is recognized for GMP contracts as project costs are incurred relative to total estimated project costs.

Fixed-Price Contracts

Fixed-price contracts include both lump-sum and fixed-unit price contracts. Under lump-sum contracts, the Company performs all the work under the contract for a specified fee. Lump-sum contracts are typically subject to price adjustments if the scope of the project changes or unforeseen conditions arise. Under fixed-unit price contracts, the Company performs a number of units of work at an agreed price per unit with the total payment under the contract determined by the actual number of units delivered. Revenue is recognized for fixed-price contracts using the input method measured on a cost-to-cost basis as the Company believes this is the best measure of progress towards completion.

Disaggregated Revenue

The following tables present the Company’s revenues disaggregated by revenue sources:


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Cost reimbursable	$	1,598.5	$	1,505.7
Guaranteed maximum price	1,350.2		1,527.4
Fixed-price	882.1		981.1
Total revenue	$	3,830.8	$	4,014.2


	Three Months Ended
	December 31, 2025		December 31, 2024
	(in millions)
Americas	$	2,977.2	$	3,112.1
Europe, Middle East, India, Africa	522.4		537.0
Asia-Australia-Pacific	331.2		365.1
Total revenue	$	3,830.8	$	4,014.2

Remaining Unsatisfied Performance Obligations

As of December 31, 2025, the Company had allocated $19.4 billion of transaction price to unsatisfied or partially satisfied performance obligations, of which approximately 60% is expected to be satisfied within the next twelve months. The majority of remaining performance obligation after the first 12 months are expected to be recognized over a two-year period.

Contract liabilities represent billings as of the balance sheet date, as allowed under the terms of a contract, but not yet recognized as contract revenue pursuant to the Company's revenue recognition policy. The Company recognized revenue of $550.1 million and $623.5 million during the three months ended December 31, 2025 and 2024, respectively, that was included in contract liabilities as of September 30, 2025 and 2024, respectively.

The Company’s timing of revenue recognition may not be consistent with its rights to bill and collect cash from its clients. Those rights are generally dependent upon advance billing terms, milestone billings based on the completion of certain phases of work or when services are performed. The Company’s accounts receivables represent amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients. Contract assets represent the amount of contract revenue recognized but not yet billed pursuant to contract terms or accounts billed after the balance sheet date.

Net accounts receivable consisted of the following:


	December 31, 2025		September 30, 2025
	(in millions)
Billed	$	1,755.8	$	1,934.3
Contract retentions	680.5		647.6
Total accounts receivable—gross	2,436.3		2,581.9
Allowance for doubtful accounts and credit losses	(87.9)		(84.8)
Total accounts receivable—net	$	2,348.4	$	2,497.1

Substantially all contract assets as of December 31, 2025 and September 30, 2025 are expected to be billed and collected within twelve months, except for claims. Significant claims recorded in contract assets and other non-current assets were approximately $520 million and $400 million as of December 31, 2025 and September 30, 2025, respectively. Contract retentions represent amounts invoiced to clients where payments have been withheld from progress payments

until the contracted work has been completed and approved by the client but nonetheless represent an unconditional right to cash.

The Company considers a broad range of information to estimate expected credit losses including the related ages of past due balances, projections of credit losses based on historical trends, and collection history and credit quality of its clients. Negative macroeconomic trends or delays in payment of outstanding receivables could result in an increase in the estimated credit losses.

No single client accounted for more than 10% of the Company’s outstanding receivables at December 31, 2025 and September 30, 2025.

The Company sold trade receivables to financial institutions, of which $347.5 million and $268.2 million were outstanding as of December 31, 2025 and September 30, 2025, respectively. The Company does not retain financial or legal obligations for these receivables that would result in material losses. The Company’s ongoing involvement is limited to the remittance of customer payments to the financial institutions with respect to the sold trade receivables.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Derivative Financial Instruments and Fair Value Measurements - Schedule of Financial Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2025	Sep. 30, 2025
Derivative [Line Items]
Credit facility investment	$ 23.0	$ 17.4
Contingent Consideration	(3.4)	(7.5)
Equity investment	23.6	21.9
Total net assets at fair value	55.8	46.2
Other current assets
Derivative [Line Items]
Derivative Asset	$ 8.3	$ 9.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Other non-current assets
Derivative [Line Items]
Derivative Asset	$ 8.8	$ 10.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT ASSETS	OTHER NON-CURRENT ASSETS
Other current liabilities
Derivative [Line Items]
Derivative Liability	$ (2.2)	$ (1.8)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Other long-term liabilities
Derivative [Line Items]
Derivative Liability	$ (2.3)	$ (2.8)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Credit facility investment	$ 0.0	$ 0.0
Contingent Consideration	0.0	0.0
Equity investment	23.6	21.9
Total net assets at fair value	23.6	21.9
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other current assets
Derivative [Line Items]
Derivative Asset	$ 0.0	$ 0.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other non-current assets
Derivative [Line Items]
Derivative Asset	$ 0.0	$ 0.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT ASSETS	OTHER NON-CURRENT ASSETS
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other current liabilities
Derivative [Line Items]
Derivative Liability	$ 0.0	$ 0.0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other long-term liabilities
Derivative [Line Items]
Derivative Liability	$ 0.0	$ 0.0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES
Significant Observable Inputs (Level 2)
Derivative [Line Items]
Credit facility investment	$ 0.0	$ 0.0
Contingent Consideration	(3.4)	(7.5)
Equity investment	0.0	0.0
Total net assets at fair value	9.2	6.9
Significant Observable Inputs (Level 2) \| Other current assets
Derivative [Line Items]
Derivative Asset	$ 8.3	$ 9.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Significant Observable Inputs (Level 2) \| Other non-current assets
Derivative [Line Items]
Derivative Asset	$ 8.8	$ 10.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT ASSETS	OTHER NON-CURRENT ASSETS
Significant Observable Inputs (Level 2) \| Other current liabilities
Derivative [Line Items]
Derivative Liability	$ (2.2)	$ (1.8)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Significant Observable Inputs (Level 2) \| Other long-term liabilities
Derivative [Line Items]
Derivative Liability	$ (2.3)	$ (2.8)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Credit facility investment	$ 23.0	$ 17.4
Contingent Consideration	0.0	0.0
Equity investment	0.0	0.0
Total net assets at fair value	23.0	17.4
Significant Unobservable Inputs (Level 3) \| Other current assets
Derivative [Line Items]
Derivative Asset	$ 0.0	$ 0.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Significant Unobservable Inputs (Level 3) \| Other non-current assets
Derivative [Line Items]
Derivative Asset	$ 0.0	$ 0.0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NON-CURRENT ASSETS	OTHER NON-CURRENT ASSETS
Significant Unobservable Inputs (Level 3) \| Other current liabilities
Derivative [Line Items]
Derivative Liability	$ 0.0	$ 0.0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Significant Unobservable Inputs (Level 3) \| Other long-term liabilities
Derivative [Line Items]
Derivative Liability	$ 0.0	$ 0.0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES

Share-based Payments

3 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Share-based Payments

The Company grants stock units to employees under its Performance Earnings Program (PEP), whereby units are earned and issued dependent upon meeting established cumulative performance objectives and vest over a three-year service period. Additionally, the Company issues restricted stock units to employees and directors which are earned based on service conditions. The grant date fair value of PEP awards and restricted stock unit awards is primarily based on that day’s closing market price of the Company’s common stock.

Restricted stock units and PEP unit activity for the three months ended December 31 was as follows:


	2025						2024
	Restricted Stock Units	Weighted Average Grant-Date Fair Value		PEP Units	Weighted Average Grant-Date Fair Value		Restricted Stock Units	Weighted Average Grant-Date Fair Value		PEP Units	Weighted Average Grant-Date Fair Value
	(in millions)			(in millions)			(in millions)			(in millions)
Outstanding at September 30,	0.7	$	95.64	0.6	$	109.74	0.8	$	83.96	0.7	$	95.38
Granted	0.3	$	97.98	0.3	$	90.09	0.2	$	111.45	0.2	$	129.50
PEP units earned	—	$	—	0.1	$	94.82	—	$	—	0.1	$	85.46
Vested	(0.2)	$	83.30	(0.3)	$	94.82	(0.2)	$	74.63	(0.3)	$	85.46
Cancelled	0.0	$	86.63	0.0	$	105.03	0.0	$	84.14	0.0	$	104.43
Outstanding at December 31,	0.8	$	99.99	0.7	$	106.74	0.8	$	95.45	0.7	$	109.68

Total compensation expense related to these share-based payments including stock options was $16.0 million and $16.8 million during the three months ended December 31, 2025 and 2024, respectively. Unrecognized compensation expense related to total share-based payments outstanding as of December 31, 2025 and September 30, 2025 was $143.8 million and $106.7 million, respectively, to be recognized on a straight-line basis over the awards’ respective vesting periods which are generally three years.