CluenexAmentum AMTM
Amentum scores average on business quality (4.6 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Amentum does
Amentum Holdings provides engineering, project management, and technical services primarily to government agencies, earning revenue through large-scale defense and energy contracts.
- What it does best
Amentum excels at securing massive, complex government contracts in specialized technical fields like nuclear cleanup. Its revenue grew 71.6% to reach $14.1 billion, outpacing peers like SAIC, which saw a 2.9% revenue decline. This scale makes it a rare partner for critical state projects.
- The main risk
A low interest coverage of 1.7x leaves the company vulnerable to debt servicing stress if project margins slip. With $3.9 billion in total debt, any execution delay on major awards like the $2.8 billion Sellafield contract immediately pressures cash flow.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin is thin at 3.6% and gross margin sits at 10.3%, ranking in the bottom quartile of its sector at the 7th percentile. Scale has not translated into strong earnings conversion.
Government contracting creates sticky client relationships governed by high regulatory barriers, placing its gross margin at the 1st percentile of its sector, reflecting low pricing power.
Revenue surged 71.6% to $14.1 billion, landing in the top decile of its sector at the 99th percentile for growth and dramatically accelerating past its historical multi-year range.
Net debt sits at $3.5 billion with interest coverage at a tight 1.7x, leaving little room for error. Free cash flow recovered to $474 million, but high leverage keeps the balance sheet soft.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on AMTM
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Amentum scores average on the Cluenex quality check (4.6 of 10), measured against its own industry. Profitability is weak, moat weak, growth fast and financial health weak.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 23, 2026.
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Cite this page: Cluenex, “Amentum (AMTM)”, https://cluenex.com/stocks/amtm/, data as of Oct 10, 2026.