As of October 2025, BV is the 5th largest 100% employee-owned company in the United States with approximately 13,000 employees and reported total revenue of $4.735 billion. According to Engineering-News Record (ENR) magazine, Black & Veatch is the 13th-largest design firm in the United States based on revenue for design services performed in 2024. The company is strategically positioned as a comprehensive infrastructure solutions provider serving interconnected ecosystems across energy, water, and digital infrastructure with deep expertise in energy transition and human-critical systems.
Cyborg Score Rationale
Black & Veatch ranks as the 5th largest 100% employee-owned company in the United States with ~13,000 employees and $4.735B revenue (October 2025). The company demonstrates strong strategic momentum through sector realignment (March 2026) toward integrated solutions and recent federal contract wins. Solid employee ownership structure provides alignment, though operating in competitive EPC markets with cyclical infrastructure spending.
Top Insights
Black & Veatch realigned its sectors to reflect client needs and bring capabilities together with natural resources to better serve water municipalities and utilities, strengthening support for molecule-oriented markets such as fuels, chemicals and heavy process industries, enabling seamless delivery of integrated end-to-end solutions.
Under CEO Mario Azar, the company is focused on pragmatism: how to move faster, reduce risk and deliver systems that balance energy security, affordability and carbon footprint in the real world.
Black & Veatch has completed more than 200 front-end loading (FEL) studies globally in the past few years and has 245MW of green hydrogen projects completed or under construction.
Black & Veatch-Stantec joint venture was awarded a contract to provide design and engineering support for the Brandon Road Interbasin Project, a critical Great Lakes ecosystem protection effort.
Named Competitors
Fluor — Global EPC and infrastructure services
Burns & McDonnell — Engineering, construction, and consulting
Parsons — Infrastructure and engineering services
Recent Developments
(June 2026) U.S. Army Corps of Engineers awarded Black & Veatch-Stantec joint venture contract for Brandon Road Interbasin ecosystem protection project design and engineering support
(March 2026) Black & Veatch restructured sectors to better deliver integrated solutions across energy, water, and human critical infrastructure; CEO Mario Azar spoke at CERAWeek 2026 on digital and AI technologies in energy transition
(May 2025) Black & Veatch showcased green hydrogen and energy transition expertise at All-Energy Summit in Glasgow and World Hydrogen Summit
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