EMCOR Group, Inc. (EME) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$5.9	$6.84	+15.9%	—	—	—
Q2 26	$6.68	$7.19	+7.6%	—	—	—
Q1 26	$6.53	$6.57	+0.6%	—	—	—
Q4 25	$5.72	$6.72	+17.5%	—	—	—
Q3 25	$4.63	$5.41	+16.8%	—	—	—
Q2 25	$5.76	$6.32	+9.7%	—	—	—
Q1 25	$4.97	$5.8	+16.7%	—	—	—
Q4 24	$3.68	$5.25	+42.7%	—	—	—
Q3 24	$2.91	$4.17	+43.3%	—	—	—
Q2 24	$3.59	$4.47	+24.5%	—	—	—
Q1 24	$2.68	$3.61	+34.7%	—	—	—
Q4 23	$2.37	$2.95	+24.5%	—	—	—
Q3 23	$1.83	$2.32	+26.8%	—	—	—
Q2 23	$2.29	$2.63	+14.8%	—	—	—
Q1 23	$2.1	$2.16	+2.9%	—	—	—
Q4 22	$1.7	$1.99	+17.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$28.3	—	—	$17B	—
FY24	—	$21.6	—	—	$14.6B	—
FY23	—	$13.4	—	—	$12.6B	—
FY22	—	$8.13	—	—	$11.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$7.6B	$7.7B	$8.1B	$9.2B	$8.8B	$9.9B	$11.1B	$12.6B	$14.6B	$17B
YoY change	+12.4%	+1.79%	+5.77%	+12.8%	-4.12%	+12.6%	+11.8%	+13.6%	+15.8%	+16.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	7.6B	7.7B	8.1B	9.2B	8.8B	9.9B	11.1B	12.6B	14.6B	17B
Cost of revenue	6.5B	6.5B	6.9B	7.8B	7.4B	8.4B	9.5B	10.5B	11.8B	13.7B
Gross profit	1B	1.1B	1.2B	1.4B	1.4B	1.5B	1.6B	2.1B	2.8B	3.3B
Gross margin	13.7%	14.9%	14.8%	14.8%	15.9%	15.2%	14.5%	16.6%	19%	19.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	727.1M	758.7M	799.2M	893.5M	903.6M	970.9M	1B	1.2B	1.4B	1.7B
Operating expenses	727.1M	758.7M	799.2M	893.5M	903.6M	970.9M	1B	1.2B	1.4B	1.7B
Operating income	310.8M	388.3M	406.3M	462.4M	491.8M	530.8M	564.9M	878.1M	1.3B	1.6B
Operating margin	4.12%	5.05%	5%	5.04%	5.59%	5.36%	5.1%	6.98%	9.23%	9.23%
Non-operating income, net	-2.3M	-57.7M	-470K	30K	-232M	3.6M	4.3M	-3.5M	894K	145.1M
Pretax income	296.5M	318.7M	395M	450.9M	252.3M	529.3M	558.8M	872.9M	1.4B	—
Income tax	111.2M	90.7M	109.1M	125.7M	119.4M	145.6M	152.6M	239.5M	370.2M	448.8M
Net income	182.2M	227.2M	283.6M	325.1M	132.9M	383.7M	406.1M	633.3M	1B	1.3B
Net margin	2.41%	2.96%	3.49%	3.54%	1.51%	3.87%	3.67%	5.03%	6.91%	7.49%
EBITDA	392.8M	479.4M	492.7M	558.3M	603M	647.8M	680.6M	1B	1.5B	1.8B
EPS	3	3.84	4.88	5.78	2.41	7.09	8.13	13.4	21.6	28.3
Diluted EPS	2.97	3.82	4.85	5.75	2.4	7.06	8.1	13.3	21.5	28.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.2B	3.4B	3.4B	3.7B	3.7B	3.8B	3.9B	4.3B	4.3B	4.5B	4.6B	5.2B
Cost of revenue	2.7B	2.8B	2.8B	3B	3B	3B	3.1B	3.5B	3.5B	3.6B	3.8B	4.1B
Gross profit	545.5M	617.7M	589.3M	684M	734.7M	757M	722.7M	833.8M	835.3M	891.2M	864M	1B
Gross margin	17%	18%	17.2%	18.7%	19.9%	20.1%	18.7%	19.4%	19.4%	19.7%	18.7%	19.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	308.1M	328.5M	329.4M	351M	371.2M	368.5M	404M	418.6M	429.6M	462.3M	460.1M	475M
Operating expenses	308.1M	328.5M	329.4M	351M	371.2M	368.5M	404M	418.6M	429.6M	462.3M	460.1M	475M
Operating income	237.3M	289.2M	260M	333M	363.5M	388.6M	318.8M	415.2M	405.7M	428.9M	403.8M	547.3M
Operating margin	7.4%	8.41%	7.57%	9.08%	9.83%	10.3%	8.24%	9.65%	9.43%	9.5%	8.73%	10.6%
Non-operating income, net	-2.6M	-279K	222K	—	227K	224K	54K	55K	56K	144.9M	—	—
Pretax income	234.6M	291.7M	267.7M	339.1M	372.1M	398.5M	324.2M	412M	407.6M	577.8M	410.1M	551.7M
Income tax	64.9M	80.2M	70.6M	91.6M	101.8M	106.3M	83.5M	109.9M	112.2M	143.2M	104.6M	148M
Net income	169.7M	211.5M	197.1M	247.6M	270.3M	292.2M	240.7M	302.2M	295.4M	434.6M	305.5M	403.7M
Net margin	5.29%	6.15%	5.74%	6.75%	7.31%	7.75%	6.22%	7.02%	6.87%	9.63%	6.6%	7.83%
EBITDA	270M	335.5M	289.5M	367.3M	398.1M	460.2M	360.7M	461.9M	453.5M	644M	456.4M	601.6M
EPS	3.59	—	4.18	5.27	5.83	6.35	5.27	6.74	6.59	9.72	6.85	9.09
Diluted EPS	3.57	—	4.17	5.25	5.8	6.32	5.26	6.72	6.57	9.68	6.84	9.06

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.3B	4.8B	3.5B	4.9B	5B	6.9B	7.4B	10.2B	21.2B	27.5B	33.8B
Enterprise value	4.3B	4.7B	3.4B	5.1B	4.7B	6.6B	7.5B	9.8B	20.2B	26.9B	33.2B
Shares outstanding	60.8M	59.3M	58.1M	56.2M	55.2M	54.1M	49.9M	47.4M	46.6M	45M	45M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	23.6	21.3	12.2	14.9	38	18	18.2	16.1	21	21.6	23.8
P/S	0.57	0.63	0.43	0.53	0.57	0.7	0.67	0.81	1.45	1.62	1.81
P/B	2.8	2.89	1.99	2.36	2.46	3.06	3.75	4.13	7.2	7.49	8.27
EV/EBITDA	10.8	9.78	6.9	9.07	7.76	10.2	11	9.64	13.3	15.1	16.7
EV/Sales	0.56	0.61	0.42	0.55	0.53	0.67	0.67	0.78	1.38	1.58	1.79
Earnings yield	4.24%	4.69%	8.18%	6.7%	2.63%	5.57%	5.49%	6.21%	4.76%	4.63%	4.21%
FCF yield	5.18%	6.84%	6.56%	6.33%	15%	4.1%	6.07%	8.05%	6.3%	4.32%	2.9%
PEG	—	—	—	—	—	—	—	—	—	—	0.68

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	13.7%	14.9%	14.8%	14.8%	15.9%	15.2%	14.5%	16.6%	19%	19.3%	19.8%
Operating margin	4.12%	5.05%	5%	5.04%	5.59%	5.36%	5.1%	6.98%	9.23%	9.23%	10.6%
Net margin	2.41%	2.96%	3.49%	3.54%	1.51%	3.87%	3.67%	5.03%	6.91%	7.49%	7.74%
ROE	11.8%	13.6%	16.3%	15.8%	6.47%	17%	20.6%	25.6%	34.3%	34.6%	40.3%
ROA	4.73%	5.73%	6.94%	6.73%	2.63%	7.05%	7.35%	9.58%	13.1%	13.7%	12%
ROIC	13%	18.3%	17.6%	14.7%	15.4%	19.5%	20%	31.5%	50.5%	—	35.7%
Return on tangible assets	19.8%	21.7%	25.1%	22%	6.06%	15.5%	16.3%	18%	23%	30%	28.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.43	1.38	1.38	1.37	1.44	1.44	1.26	1.26	1.3	1.22	1.28
Quick ratio	1.41	1.36	1.35	1.35	1.42	1.41	1.23	1.23	1.27	1.19	1.25
Debt / equity	0.28	0.19	0.17	0.28	0.26	0.24	0.27	0.14	0.12	0.13	0.13
Debt / assets	0.11	0.08	0.07	0.12	0.11	0.1	0.1	0.05	0.05	0.05	0.05
Net debt / EBITDA	-0.11	-0.33	-0.14	0.38	-0.61	-0.43	0.12	-0.44	-0.65	-0.36	-0.18
Interest coverage	24.5	26	30.2	33.6	29	88.2	43.3	51.8	365.5	144.2	144.2
Effective tax rate	37.5%	28.5%	27.6%	27.9%	47.3%	27.5%	27.3%	27.4%	26.9%	—	26.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	124.3	129.7	139.9	163.2	159.4	183.2	221.8	265.7	312.5	377.6	416.9
EPS (basic)	3	3.84	4.88	5.78	2.41	7.09	8.13	13.4	21.6	28.3	28.3
EPS (diluted)	2.97	3.82	4.85	5.75	2.4	7.06	8.1	13.3	21.5	28.2	32.1
Book value per share	25.3	28.3	30	36.6	37.2	41.7	39.5	52.2	63	81.7	92.2
FCF per share	3.67	5.59	3.92	5.47	13.7	5.23	8.99	17.3	28.6	26.4	26.3
Cash per share	7.65	7.89	6.26	6.38	16.4	15.2	9.14	16.7	28.7	24.7	21
Capex per share	0.62	0.52	0.73	0.76	0.81	0.62	0.84	1.37	1.53	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.5%	0.4%	0.52%	0.47%	0.51%	0.34%	0.38%	0.51%	0.49%	—	—
Capex / operating cash flow	13.3%	9.8%	14.5%	14.1%	9.74%	12.6%	7.94%	9.19%	5.71%	—	—
Payout ratio	10.7%	8.35%	6.57%	5.52%	13.3%	7.34%	6.69%	5.16%	4.31%	3.54%	4.05%
Dividend yield	0.45%	0.39%	0.54%	0.37%	0.35%	0.41%	0.37%	0.32%	0.21%	0.16%	0.21%

Yield

0.21%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.40

ex-dividend Jul 15, 2026

Payout ratio

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 15, 2026	$0.40
Apr 16, 2026	$0.40
Jan 14, 2026	$0.40

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.2B	$3.4B	$3.4B	$3.7B	$3.7B	$3.8B	$3.9B	$4.3B	$4.3B	$4.5B	$4.6B	$5.2B
YoY change	+13.5%	+16.6%	+18.7%	+20.4%	+15.3%	+9.62%	+12.7%	+17.4%	+16.4%	+19.7%	+19.7%	+19.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	464.6M	467.4M	363.9M	358.8M	902.9M	821.3M	456.4M	789.8M	1.3B	1.1B
Receivables	1.5B	1.6B	1.8B	2B	1.9B	2.2B	2.6B	3.2B	3.6B	4.2B
Inventory	37.4M	42.7M	42.3M	40.4M	53.3M	54.1M	85.6M	110.8M	95.7M	126.3M
Total current assets	2.2B	2.3B	2.4B	2.7B	3.1B	3.4B	3.5B	4.4B	5.4B	5.9B
Property, plant & equipment	218.2M	219.3M	134.4M	401.7M	400.6M	412.8M	425.9M	489.9M	523.6M	692.3M
Goodwill & intangibles	2.9B	2.9B	3B	3.4B	2.9B	3B	3B	3.1B	3.3B	5B
Total assets	3.9B	4B	4.1B	4.8B	5.1B	5.4B	5.5B	6.6B	7.7B	9.3B
Accounts payable	501.2M	567.8M	652.1M	665.4M	671.9M	734.3M	849.3M	936M	937.1M	1.2B
Short-term debt	15M	15.4M	16M	71.2M	70.5M	74M	82.8M	77.7M	83.5M	99.2M
Total current liabilities	1.5B	1.7B	1.7B	1.9B	2.2B	2.4B	2.8B	3.5B	4.2B	4.9B
Long-term debt	408.3M	294.8M	279.8M	499.1M	465M	466.3M	452.4M	262.3M	265.4M	369M
Total liabilities	2.3B	2.3B	2.3B	2.8B	3B	3.2B	3.6B	4.1B	4.8B	5.6B
Shareholders' equity	1.5B	1.7B	1.7B	2.1B	2.1B	2.3B	2B	2.5B	2.9B	3.7B
Total debt	423.3M	310.1M	295.8M	570.3M	535.5M	540.3M	535.2M	340M	348.9M	468.2M
Net debt	-41.3M	-157.3M	-68.1M	211.5M	-367.3M	-281M	78.7M	-449.8M	-990.6M	-643.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	523.6M	789.8M	841M	807.3M	1B	1.3B	576.7M	486M	655.1M	1.1B	916.4M	924.4M
Receivables	3.1B	3.2B	3.2B	3.5B	3.5B	3.6B	3.8B	4.1B	4.1B	4.2B	4.5B	5.1B
Inventory	115.5M	110.8M	113.8M	103.9M	94.5M	95.7M	94.1M	108.2M	105.4M	126.3M	130.2M	153.7M
Total current assets	4.1B	4.4B	4.5B	4.7B	5B	5.4B	4.9B	5.2B	5.5B	5.9B	6.1B	6.7B
Property, plant & equipment	476.8M	489.9M	507.9M	532.5M	527.5M	523.6M	587.7M	634.9M	632.9M	692.3M	743.3M	788.1M
Goodwill & intangibles	3.1B	3.1B	3.1B	3.3B	3.3B	3.3B	4.9B	4.9B	4.8B	5B	5B	5.1B
Total assets	6.2B	6.6B	6.7B	7.1B	7.3B	7.7B	8.1B	8.4B	8.6B	9.3B	9.5B	10.2B
Accounts payable	824.2M	936M	865.1M	922M	897.1M	937.1M	1B	1.1B	1B	1.2B	1.1B	1.3B
Short-term debt	81.2M	77.7M	76M	78.7M	80.2M	83.5M	87.7M	92M	95.8M	99.2M	102.3M	105.7M
Total current liabilities	3.2B	3.5B	3.4B	3.7B	3.9B	4.2B	4.2B	4.4B	4.6B	4.9B	4.8B	5.2B
Long-term debt	353.8M	262.3M	269.8M	279.5M	269.5M	265.4M	547.9M	578.1M	328.8M	369M	408.1M	436.3M
Total liabilities	3.9B	4.1B	4.1B	4.3B	4.6B	4.8B	5.1B	5.3B	5.3B	5.6B	5.6B	6.1B
Shareholders' equity	2.3B	2.5B	2.6B	2.7B	2.8B	2.9B	3B	3.1B	3.3B	3.7B	3.9B	4.1B
Total debt	435M	340M	345.8M	358.2M	349.8M	348.9M	635.6M	670.1M	424.6M	468.2M	510.4M	541.9M
Net debt	-88.6M	-449.8M	-495.2M	-449.1M	-685.8M	-990.6M	58.9M	184.1M	-230.5M	-643.8M	-406M	-382.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	182.2M	227.2M	283.6M	325.1M	132.9M	383.7M	406.1M	633.3M	1B	1.3B
Depreciation & amortization	79.8M	88.5M	80.9M	92.1M	106.7M	112.4M	108.6M	119M	133.7M	186.4M
Stock-based compensation	8.9M	9.9M	11M	11.4M	11.2M	11.1M	12.1M	13.7M	20M	20.6M
Change in working capital	20.4M	44.8M	-89M	-128.5M	240.8M	-254.9M	-9.1M	-47.4M	104.2M	321.6M
Operating cash flow	283.7M	312.9M	292.1M	304.4M	456.8M	264.6M	530.8M	705.2M	1.2B	1.3B
Capital expenditure	-37.6M	-30.7M	-42.2M	-42.9M	-44.5M	-33.4M	-42.1M	-64.8M	-71.1M	—
Investing cash flow	-270.8M	-139.2M	-117.8M	-346.2M	-94.9M	-153.3M	-140.8M	-161.3M	-299.3M	-765.5M
Dividends paid	-19.5M	-19M	-18.6M	-17.9M	-17.7M	-28.2M	-27.2M	-32.7M	-43.4M	-45M
Share repurchases	-94.2M	-93.2M	-216.2M	0	-112.6M	-195.5M	-660.6M	-127.7M	-489.8M	-586.3M
Financing cash flow	-105.2M	-328.5M	-258.8M	-50.3M	-428.5M	-252.8M	-718.3M	-421.2M	-556.3M	-663.8M
Net change in cash	-92.3M	-154.8M	-84.5M	-92.1M	-66.5M	-141.5M	-328.3M	122.7M	390M	-127.2M
Free cash flow	222.7M	331.4M	227.5M	307.3M	758.4M	282.6M	448.6M	821.3M	1.3B	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	169.7M	211.5M	197.1M	247.6M	270.3M	292.2M	240.7M	302.2M	295.4M	434.6M	305.5M	403.7M
Depreciation & amortization	30.3M	31.2M	29.6M	34.2M	34.5M	35.3M	41.9M	46.6M	47.8M	50M	52.6M	54.3M
Stock-based compensation	3.2M	3M	6.5M	4.8M	4.8M	3.8M	9.3M	3.8M	3.6M	3.9M	10.6M	4.4M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	200.9M	252.8M	230.4M	284.2M	306.9M	348.9M	290.4M	193.7M	475.5M	524.4M	558K	289.4M
Capital expenditure	-18.2M	-20.5M	-19.3M	-18.5M	-16.6M	-16.6M	-24.8M	—	—	—	—	—
Investing cash flow	-85.6M	-27.3M	-19.4M	-191.7M	-32.5M	-55.6M	-875.4M	-36.6M	-13.3M	135M	-43.7M	-51.3M
Dividends paid	-8.5M	-8.5M	-8.5M	-11.7M	-11.7M	-11.5M	-11.5M	-11.2M	-11.2M	-11.2M	-17.8M	-17.8M
Share repurchases	0	-22.4M	-39M	-110M	-256.4M	-84.4M	-224.8M	-207.3M	0	-154.1M	-87.1M	-181.4M
Financing cash flow	-152.1M	-238.3M	-59.9M	-122.5M	-273.6M	-100.3M	-829K	-505.3M	-263.9M	-168.7M	-124.4M	-200.4M
Net change in cash	-36.8M	-12.7M	151.1M	-30M	811K	193M	-585.9M	-348.2M	198.3M	490.7M	-167.5M	37.7M
Free cash flow	241.2M	401.7M	112M	260.4M	508.7M	451.8M	82.3M	165.6M	448.8M	492.5M	-28.2M	258.2M

Date	Ratio
Jul 10, 2007	2:1
Feb 13, 2006	2:1

EMCOR Group, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history