ABM Industries Incorporated

ABM Industries cleans, maintains and runs buildings for other organizations. Its services include janitorial work, facilities engineering, parking management, heating, cooling and electrical work, grounds upkeep, and backup power systems for data centers. The company traces its roots to a one-person window-washing business started in San Francisco in 1909 and grew mainly through acquisitions. Revenue was $8.75 billion in the fiscal year ended October 31, 2025.

ABM bills clients under several contract types: a fixed monthly fee, a fee based on square footage serviced, or cost-plus pricing, where the client repays wages and other costs plus a profit margin. Extra jobs such as snow removal are billed as work orders. Many contracts can be canceled on short notice, though ABM says client retention has historically been high. Janitorial services made up 59.8% of fiscal 2025 revenue. Margins are thin: operating profit was 3.6% of revenue.

ABM reports five segments. Business & Industry, serving offices, sports venues and hospitals, brought in 47.2% of fiscal 2025 revenue. Manufacturing & Distribution, serving factories, distribution centers and data centers, supplied 18.5%; Aviation, serving airlines and airports, 12.8%; Technical Solutions, covering electrical, mechanical and electric-vehicle charging work, 11%; and Education, serving schools and universities, 10.5%. The United States accounted for 91.8% of revenue; ABM also operates in the UK and Ireland.

• In Q3 FY2026 (ended Jul 31, 2026), revenue was $2.32B, up 4.2% from a year earlier, and net income was $49.7M (+18.9%).
• For fiscal 2025, revenue was $8.75B (+4.6% year over year; +7.9% a year from FY2020 to FY2025) with a 1.9% net margin.

• Over FY2021–FY2025: $413.9M in buybacks and $282.5M in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +7.5% a year over 5 years (FY2020–FY2025).
• Dividends took 40.4% of earnings and 42.3% of free cash flow in the latest fiscal year.
• Shares outstanding changed -12.9% from Dec 21, 2021 to Sep 8, 2026.

Rank among 1514 US companies

Market value at each year end

ABM Industries Incorporated’s market value went from $2.27B at the end of 2016 to $3.12B on Oct 28, 2026, up 38%; since the end of 2025 it is up 23%.

Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 6 sales ($4.4M), 5 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in ABM

1. Labor shortages and rising wages. ABM employs about 113,000 people. Labor shortages, turnover or wage increases raise its costs, and if costs exceed rates fixed in client contracts, its thin margins (3.6% operating margin in fiscal 2025) shrink.
2. Fierce bidding and easily canceled contracts. A majority of revenue comes from competitive bids, mainly against regional and local firms that may have lower costs, and most contracts can be canceled on 30 to 90 days' notice.
3. Losing one big client could sting. In fiscal 2025 no client topped 10% of total revenue, but one made up about 32% of Manufacturing & Distribution, one about 30% of Technical Solutions, and two together about 27% of Aviation.
4. Hybrid work and empty offices. Business & Industry, which serves corporate offices among other properties, was 47.2% of fiscal 2025 revenue. Lower office use from hybrid work and higher vacancy rates could reduce demand for ABM's services.
5. Systems overhaul could disrupt operations. ABM is installing a new enterprise resource planning (ERP) system, the core software for accounting, billing and other back-office work. Problems could disrupt operations and its ability to report financial results.
6. Debt and interest costs. As of July 31, 2026, ABM had about $1.73 billion of debt and $110.5 million in cash and investments. More borrowing or higher interest rates would raise interest costs and could weigh on earnings.

• Oct 28, 2026 Executive or board change
• Sep 8, 2026 Quarterly results released; Other company announcement
• Jun 5, 2026 Quarterly results released; Other company announcement
• Mar 25, 2026 Shareholder vote results
• Mar 10, 2026 Quarterly results released; Other company announcement
• Feb 5, 2026 Major agreement signed; New debt or financial obligation
• Dec 17, 2025 Major agreement signed; Quarterly results released; Investor presentation or announcement
• Oct 30, 2025 Executive or board change

ABM has raised its dividend for at least nine consecutive fiscal years through fiscal 2025, possibly longer. Dividends per share rose from $0.74 in fiscal 2020 to $1.06 in fiscal 2025, about 7.5% a year. In fiscal 2025 the dividend used 40.4% of earnings and 42.3% of free cash flow (cash left after running and investing in the business), though free cash flow was negative in fiscal 2022. The yield was 2.18% as of October 28, 2026. ABM also spent $413.9 million repurchasing its own shares over fiscal 2021–2025, and the share count fell 12.9% from December 2021 to September 2026.

The shares have fallen hard in downturns: 56.3% from peak to low in the 2008 financial crisis, 47.6% in the 2020 COVID crash and 29% in 2022. They regained their prior highs about 21, 3 and 14.5 months after those lows, respectively. A single stock carries more risk than a diversified fund.