EMCOR Group, Inc.EMENYSE

Overview Intelligence Charts News Fundamentals Key Metrics Earnings Growth Financials Insiders

Revenue (LTM)

$17.0B

+16.6% YoY

Net Income (LTM)

$1.3B

+26.1% YoY

Free Cash Flow

$1.2B

Revenue CAGR (5Y)

+14.1%

Marginsimproving

FCF$1.2B

Profitable

Watch on earnings:Total backlog and remaining performance obligations (RPOs) - indicator of future revenue visibilitySegment operating margins (U.S. Construction vs. U.S. Building Services) - margin mix and execution qualityOrganic revenue growth rates by segment and end market exposure (data center, manufacturing, healthcare percentages)Days sales outstanding (DSO) and working capital efficiency - project cash conversionBook-to-bill ratio and new project awards - forward demand indicators

Key metrics:Dodge Momentum Index (DMI) - leading indicator of nonresidential construction project planning · U.S. nonresidential construction spending (Census Bureau) - total addressable market size · Hyperscaler capex announcements (Microsoft, Google, Amazon, Meta quarterly earnings) - data center demand proxy · Copper futures (HGUSD) - input cost for electrical contracting and industrial activity indicator

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	9,904	11,076↑11.8%	12,583↑13.6%	14,566↑15.8%	16,990↑16.6%
Gross Profit	1,502	1,604↑6.8%	2,089↑30.3%	2,765↑32.3%	3,327↑20.3%
Operating Income	531	565↑6.4%	876↑55.0%	1,345↑53.6%	1,671↑24.3%
Net Income	384	406↑5.9%	633↑55.9%	1,007↑59.1%	1,270↑26.1%
EBITDA	648	681↑5.1%	1,009↑48.3%	1,515↑50.1%	1,989↑31.3%
EPS Diluted	7.06	8.10↑14.7%	13.31↑64.3%	21.52↑61.7%	28.19↑31.0%

Balance Sheet

⚠ Project execution risk on large fixed-price contracts - cost overruns, labor productivity shortfalls, or material price escalation can erode margins

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	821	456↓44.4%	790↑73.0%	1,340↑69.6%	1,112↓17.0%
Total Current Assets	3,391	3,462↑2.1%	4,447↑28.5%	5,389↑21.2%	5,937↑10.2%
Total Assets	5,441	5,525↑1.5%	6,610↑19.6%	7,716↑16.7%	9,600↑24.4%
Total Current Liabilities	2,362	2,754↑16.6%	3,518↑27.8%	4,154↑18.1%	4,865↑17.1%
Total Liabilities	3,188	3,550↑11.4%	4,139↑16.6%	4,778↑15.4%	5,925↑24.0%
Total Equity	2,252	1,974↓12.4%	2,470↑25.1%	2,938↑18.9%	3,674↑25.1%
Total Debt	540	535↓1.0%	345↓35.5%	349↑1.1%	844↑141.8%
Net Debt	-281	79↑128.0%	-444↓664.5%	-991↓122.9%	-268↑72.9%

Cash Flow Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	319	498↑56.2%	900↑80.7%	1,408↑56.5%	1,302↓7.5%
Capital Expenditure	-36	-49↓36.2%	-78↓59.1%	-75↑4.4%	-113↓50.4%
Free Cash Flow	283	449↑58.7%	821↑83.1%	1,333↑62.3%	1,189↓10.8%
Stock-Based Comp	11	12↑9.2%	14↑13.3%	20↑45.4%	-5↓125.1%
Net Change in Cash	-81	-366↓351.3%	333↑191.0%	551↑65.5%	-228↓141.5%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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