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CECO Environmental (CECO) Financials

CECO Environmental logo
$96.74 0.00 (0.00%)
Closing price 06/12/2026 04:00 PM Eastern
Extended Trading
$96.86 +0.13 (+0.13%)
As of 06/12/2026 07:37 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for CECO Environmental

Annual Income Statements for CECO Environmental

This table shows CECO Environmental's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -5.60 -38 -3.03 -7.12 18 8.21 1.43 17 13 13 50
Consolidated Net Income / (Loss)		 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14 53
Net Income / (Loss) Continuing Operations		 -5.73 -38 -3.03 -7.12 16 8.17 1.98 18 15 14 53
Total Pre-Tax Income 		-3.10 -33 1.41 2.50 13 12 4.67 24 22 18 83
Total Operating Income		 4.95 -26 8.02 14 18 13 9.86 22 35 35 106
Total Gross Profit		 109 135 113 112 114 105 101 128 171 196 269
Total Revenue		 367 417 345 337 342 316 324 423 545 558 774
Operating Revenue		 367 417 345 337 342 316 324 423 545 558 774
Total Cost of Revenue		 258 282 232 226 228 211 223 294 374 362 505
Operating Cost of Revenue		 258 282 232 226 228 211 223 294 374 362 505
Total Operating Expenses		 104 160 105 97 96 92 91 106 136 161 163
Selling, General & Admin Expense		 93 102 96 97 94 77 82 93 123 147 201
Amortization Expense		 - - - - - 8.80 7.79 6.81 7.45 8.72 16
Other Operating Expenses / (Income)		 - - - 0.00 0.00 1.52 0.03 1.16 3.55 1.11 0.62
Restructuring Charge		 7.94 0.52 1.90 0.00 1.56 3.69 1.45 4.62 2.51 4.21 9.56
Other Special Charges / (Income)		 - - - - - - - 0.00 0.00 0.00 -64
Total Other Income / (Expense), net		 -8.05 -7.40 -6.62 -12 -6.08 -1.50 -5.18 1.53 -13 -18 -23
Interest Expense		 5.96 7.71 6.72 7.14 5.40 3.54 2.95 5.42 13 13 21
Other Income / (Expense), net		 -2.08 0.31 0.11 -4.76 -0.68 2.03 -2.23 6.95 0.37 -4.69 -2.10
Income Tax Expense		 2.64 5.29 4.44 9.62 -4.36 3.67 2.69 5.43 7.02 3.27 30
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.13 -0.04 - 0.00 0.00 -0.04 0.56 0.85 1.59 1.46 3.06
Basic Earnings per Share		 ($0.19) ($1.12) ($0.09) ($0.21) ($0.51) $0.23 $0.04 $0.50 $0.37 $0.37 $1.42
Weighted Average Basic Shares Outstanding		 28.79M 33.98M 34.45M 34.71M 34.99M 35.29M 35.35M 34.67M 34.67M 34.93M 35.33M
Diluted Earnings per Share		 ($0.19) ($1.12) ($0.09) ($0.21) ($0.50) $0.23 $0.04 $0.50 $0.37 $0.36 $1.37
Weighted Average Diluted Shares Outstanding		 28.79M 33.98M 34.45M 34.71M 35.48M 35.52M 35.59M 35.01M 35.33M 36.38M 36.60M
Weighted Average Basic & Diluted Shares Outstanding		 29.50M 34.10M 33.70M 33.90M 34.99M 35.35M 35.05M 34.42M 34.85M 34.99M 35.67M

Quarterly Income Statements for CECO Environmental

This table shows CECO Environmental's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2026 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 3.72 3.33 3.88 1.51 4.49 2.09 4.88 -0.40 9.51 1.50 3.06
Consolidated Net Income / (Loss)		 3.99 3.71 4.33 2.09 4.93 2.54 4.86 -0.25 10 1.81 4.75
Net Income / (Loss) Continuing Operations		 3.99 3.71 4.32 2.09 4.93 2.54 4.86 -0.25 10 1.81 4.75
Total Pre-Tax Income 		4.97 4.30 9.78 2.76 5.32 4.14 5.47 -3.75 15 2.29 11
Total Operating Income		 8.60 7.85 13 7.69 9.26 7.19 11 1.88 18 9.40 17
Total Gross Profit		 40 43 53 45 49 45 57 64 67 65 75
Total Revenue		 129 149 154 126 138 136 159 206 185 198 215
Operating Revenue		 129 149 154 126 138 136 159 206 185 198 215
Total Cost of Revenue		 89 106 101 81 88 90 102 142 118 133 139
Operating Cost of Revenue		 89 106 101 81 88 90 102 142 118 133 139
Total Operating Expenses		 31 35 41 37 40 38 45 62 49 55 59
Selling, General & Admin Expense		 28 30 37 35 36 34 41 46 49 47 51
Amortization Expense		 2.27 1.97 2.19 2.16 2.21 2.16 2.03 4.00 2.94 6.14 3.99
Restructuring Charge		 0.33 1.60 1.43 0.19 0.48 1.21 2.34 10 0.03 0.25 1.13
Total Other Income / (Expense), net		 -3.63 -3.56 -2.88 -4.93 -3.93 -3.05 -5.81 -5.62 -3.44 -7.11 -5.65
Interest Expense		 3.75 3.34 3.92 3.41 3.25 2.65 3.71 4.23 4.90 5.05 4.74
Other Income / (Expense), net		 0.12 -0.22 1.04 -1.51 -0.68 -0.40 -2.10 -1.39 1.45 -2.06 -0.91
Income Tax Expense		 0.98 0.59 5.46 0.67 0.39 1.60 0.61 -3.50 4.51 0.48 6.13
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.27 0.38 0.45 0.59 0.45 0.45 -0.02 0.15 0.60 0.31 1.69
Basic Earnings per Share		 $0.11 $0.10 $0.10 $0.04 $0.13 $0.06 $0.14 ($0.01) $0.27 $0.04 $0.08
Weighted Average Basic Shares Outstanding		 34.62M 34.77M 34.67M 34.85M 34.92M 34.97M 34.93M 35.69M 35.29M 35.36M 35.33M
Diluted Earnings per Share		 $0.11 $0.09 $0.11 $0.04 $0.12 $0.06 $0.14 ($0.01) $0.26 $0.04 $0.09
Weighted Average Diluted Shares Outstanding		 35.14M 35.30M 35.33M 36.18M 36.30M 36.49M 36.38M 35.69M 36.56M 36.40M 36.60M
Weighted Average Basic & Diluted Shares Outstanding		 34.77M 34.81M 34.85M 34.94M 34.96M 34.98M 34.99M 35.87M 35.33M 35.64M 35.67M

Annual Cash Flow Statements for CECO Environmental

This table details how cash moves in and out of CECO Environmental's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 16 10 -18 15 -7.48 0.85 -5.82 15 8.86 -17 -4.97
Net Cash From Operating Activities		 13 70 6.57 22 10 4.42 13 30 45 25 5.86
Net Cash From Continuing Operating Activities		 13 70 6.57 22 10 4.42 13 30 45 25 5.86
Net Income / (Loss) Continuing Operations		 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14 53
Consolidated Net Income / (Loss)		 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14 53
Depreciation Expense		 17 19 16 13 11 9.92 9.85 11 13 15 25
Amortization Expense		 1.06 1.05 1.03 1.14 1.06 0.42 0.40 0.37 0.43 0.50 0.83
Non-Cash Adjustments To Reconcile Net Income		 9.51 73 -5.29 2.75 12 -23 6.91 -9.35 33 32 -59
Changes in Operating Assets and Liabilities, net		 -8.72 15 -2.24 12 -31 8.67 -5.85 9.75 -16 -37 -14
Net Cash From Investing Activities		 -35 -1.41 -0.66 38 -5.15 -9.24 -2.08 -48 -56 -105 -1.08
Net Cash From Continuing Investing Activities		 -35 -1.41 -0.66 38 -5.15 -9.24 -2.08 -48 -56 -105 -1.08
Purchase of Property, Plant & Equipment		 -0.76 -1.08 -1.03 -3.09 -5.66 -3.95 -2.62 -3.38 -8.38 -17 -11
Acquisitions		 -37 - - - - - 0.00 -45 -48 -88 -98
Sale of Property, Plant & Equipment		 3.21 0.66 0.37 6.30 0.51 0.61 0.53 0.02 0.00 0.00 0.07
Other Investing Activities, net		 - -0.99 - - - - - - 0.00 0.00 108
Net Cash From Financing Activities		 39 -58 -24 -45 -12 3.72 -16 38 21 66 -12
Net Cash From Continuing Financing Activities		 39 -58 -24 -45 -12 3.72 -16 38 21 66 -12
Repayment of Debt		 -121 -55 -12 -56 -12 4.19 -9.24 36 -49 81 -7.80
Repurchase of Common Equity		 - -0.19 - - 0.00 0.00 -5.01 -7.02 0.00 -5.00 0.00
Payment of Dividends		 -7.98 -9.00 -7.79 - 0.00 0.00 -0.11 -1.43 -1.67 -2.11 -1.61
Issuance of Debt		 170 - 2.27 - - 0.00 0.00 11 75 0.00 0.00
Other Financing Activities, net		 -2.44 4.69 -8.11 11 -0.48 -0.47 -1.43 0.07 -2.84 -7.98 -2.15
Effect of Exchange Rate Changes		 -0.49 - - - -0.45 1.94 -1.48 -4.98 -0.44 -2.67 1.80
Cash Interest Paid		 4.74 6.92 5.69 5.56 3.55 3.17 2.15 5.01 12 13 20
Cash Income Taxes Paid		 5.08 6.42 3.05 10 5.91 2.16 -2.57 5.38 9.92 9.55 25

Quarterly Cash Flow Statements for CECO Environmental

This table details how cash moves in and out of CECO Environmental's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 6.35 -0.22 7.11 -8.42 -10 2.01 -0.73 108 -110 -4.04 0.35
Net Cash From Operating Activities		 11 30 15 1.22 6.67 15 1.83 -12 -7.67 15 9.96
Net Cash From Continuing Operating Activities		 11 30 15 1.22 6.67 15 1.83 -12 -7.67 15 9.96
Net Income / (Loss) Continuing Operations		 3.99 3.71 4.33 2.09 4.93 2.54 4.86 36 10 1.81 4.75
Consolidated Net Income / (Loss)		 3.99 3.71 4.33 2.09 4.93 2.54 4.86 36 10 1.81 4.75
Depreciation Expense		 2.77 3.12 3.74 3.51 3.46 3.56 3.99 5.12 5.04 8.57 6.16
Amortization Expense		 0.09 0.09 0.16 0.12 0.12 0.12 0.14 0.21 0.21 0.22 0.20
Non-Cash Adjustments To Reconcile Net Income		 28 -8.29 3.89 11 8.12 -6.05 19 -68 -12 -1.75 22
Changes in Operating Assets and Liabilities, net		 -23 31 3.04 -16 -9.97 15 -26 14 -11 6.42 -23
Net Cash From Investing Activities		 -1.41 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02 -2.29 -2.60
Net Cash From Continuing Investing Activities		 -1.41 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02 -2.29 -2.60
Purchase of Property, Plant & Equipment		 -1.41 -1.59 -2.87 -3.12 -4.12 -4.00 -6.13 -3.39 -1.05 -4.24 -2.67
Net Cash From Financing Activities		 -4.86 -4.33 -4.03 -6.53 -10 2.05 80 116 -102 -17 -8.72
Net Cash From Continuing Financing Activities		 -4.86 -4.33 -4.03 -6.53 -10 2.05 80 116 -102 -17 -8.72
Repayment of Debt		 -3.73 -1.73 -78 -1.75 -4.95 2.46 85 120 -101 -18 -8.67
Payment of Dividends		 -0.60 -0.77 -0.30 -0.80 -0.30 -0.60 -0.40 -0.40 - -0.80 -0.40
Other Financing Activities, net		 -1.08 -2.12 0.58 -0.97 -2.95 -0.23 -3.56 -3.92 -0.38 1.80 0.35
Effect of Exchange Rate Changes		 1.21 -0.44 -1.15 -0.42 -2.63 4.24 -3.86 -0.41 0.48 0.03 1.71
Cash Interest Paid		 3.04 3.15 3.57 3.27 3.31 3.14 3.62 3.99 6.95 4.92 4.55
Cash Income Taxes Paid		 6.32 1.03 1.28 0.98 2.83 2.98 2.77 2.41 16 3.78 2.31

Annual Balance Sheets for CECO Environmental

This table presents CECO Environmental's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 599 499 439 393 409 419 416 505 600 760 894
Total Current Assets		 228 213 174 161 179 183 189 241 281 331 410
Cash & Equivalents		 34 46 30 44 36 36 30 46 55 38 33
Restricted Cash		 5.32 1.50 0.59 0.76 1.36 1.82 2.09 1.06 0.67 0.37 0.08
Accounts Receivable		 141 121 68 53 68 63 75 83 113 160 173
Inventories, net		 33 21 21 21 21 17 17 27 34 43 54
Prepaid Expenses		 9.06 14 11 12 9.90 12 11 12 12 17 29
Current Deferred & Refundable Income Taxes		 4.72 1.59 1.93 - 8.23 7.79 2.78 1.27 0.82 3.83 4.99
Other Current Assets		 - - 34 30 35 45 51 71 67 70 116
Plant, Property, & Equipment, net		 45 27 23 22 15 16 16 21 26 34 48
Total Noncurrent Assets		 325 258 241 210 214 220 211 243 293 395 436
Goodwill		 220 170 167 152 152 162 161 183 211 270 288
Intangible Assets		 101 83 70 54 46 43 35 45 60 84 107
Noncurrent Deferred & Refundable Income Taxes		 - - - - - 0.00 0.51 0.83 0.30 0.97 0.45
Other Noncurrent Operating Assets		 3.93 5.46 4.61 3.14 16 15 14 14 21 41 40
Total Liabilities & Shareholders' Equity		 599 499 439 393 409 419 416 505 600 760 894
Total Liabilities		 354 309 252 214 216 216 210 287 363 508 571
Total Current Liabilities		 148 146 108 104 115 109 117 147 203 245 306
Short-Term Debt		 19 14 17 1.70 2.50 3.13 2.20 3.58 10 1.65 1.88
Accounts Payable		 99 96 71 80 78 85 84 73 88 110 118
Accrued Expenses		 - - - - - - - 34 44 48 58
Current Deferred Revenue		 28 35 20 20 34 21 29 33 57 82 124
Current Deferred & Payable Income Tax Liabilities		 1.58 1.54 - 1.81 0.00 0.54 1.49 3.21 1.23 2.61 4.74
Other Current Liabilities		 - - - - - - - - 2.50 1.70 0.00
Total Noncurrent Liabilities		 206 162 144 110 100 106 94 140 160 263 265
Long-Term Debt		 158 114 104 74 63 69 62 108 127 217 211
Noncurrent Deferred & Payable Income Tax Liabilities		 18 13 10 8.76 5.94 6.97 8.39 8.67 8.84 11 28
Other Noncurrent Operating Liabilities		 30 35 30 27 31 30 24 24 24 35 26
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 245 190 187 179 193 204 206 218 237 252 323
Total Preferred & Common Equity		 239 190 187 179 193 203 205 213 233 248 318
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 239 190 187 179 193 203 205 213 233 248 318
Common Stock		 244 245 249 252 254 256 253 251 255 256 270
Retained Earnings		 5.47 -42 -53 -59 -46 -38 -37 -19 -6.39 6.57 57
Accumulated Other Comprehensive Income / (Loss)		 -9.58 -13 -8.92 -13 -15 -14 -12 -18 -16 -14 -8.90
Noncontrolling Interest		 5.87 - - - 0.00 0.95 1.40 4.92 4.85 4.20 5.65

Quarterly Balance Sheets for CECO Environmental

This table presents CECO Environmental's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2026 6/30/2025 9/30/2025
Total Assets		 482 486 568 583 600 589 598 622 1,027 877 892
Total Current Assets		 219 223 275 291 285 272 281 276 539 383 395
Cash & Equivalents		 34 35 41 48 48 47 37 39 45 37 33
Restricted Cash		 1.04 1.03 0.97 0.94 0.75 0.47 0.39 0.23 0.10 0.09 0.09
Accounts Receivable		 95 90 110 127 112 117 127 100 279 161 160
Inventories, net		 24 25 30 32 38 38 38 38 60 60 58
Prepaid Expenses		 12 14 12 16 15 11 20 27 41 30 29
Current Deferred & Refundable Income Taxes		 0.89 0.87 1.25 6.46 6.58 0.74 3.22 3.83 11 3.86 6.34
Other Current Assets		 51 57 80 62 65 59 55 69 104 91 110
Plant, Property, & Equipment, net		 16 20 24 24 25 28 30 32 48 47 48
Total Noncurrent Assets		 247 243 268 267 290 290 286 313 440 447 448
Goodwill		 186 182 208 200 210 211 211 220 291 288 292
Intangible Assets		 45 45 45 52 62 58 56 61 109 117 111
Noncurrent Deferred & Refundable Income Taxes		 0.51 0.51 0.82 0.82 0.80 0.29 0.26 0.29 0.00 0.29 1.16
Other Noncurrent Operating Assets		 15 15 15 14 17 20 19 31 40 42 44
Total Liabilities & Shareholders' Equity		 482 486 568 583 600 589 598 622 1,027 877 892
Total Liabilities		 271 281 345 355 370 353 358 376 710 573 578
Total Current Liabilities		 144 140 172 188 203 196 207 213 406 285 298
Short-Term Debt		 3.30 3.30 3.85 4.31 4.73 11 11 11 5.34 1.86 1.93
Accounts Payable		 101 100 112 116 94 79 91 92 138 126 128
Accrued Expenses		 - - - - 44 46 45 44 71 54 61
Current Deferred Revenue		 36 34 52 61 54 58 60 65 184 93 107
Current Deferred & Payable Income Tax Liabilities		 3.09 1.80 3.19 3.79 3.47 0.82 1.21 0.00 7.42 8.51 0.79
Other Current Liabilities		 0.50 0.50 1.00 2.50 2.50 1.50 0.00 1.70 0.00 1.70 0.00
Total Noncurrent Liabilities		 127 141 174 167 167 157 151 162 304 288 280
Long-Term Debt		 93 107 141 137 135 125 120 123 248 237 219
Noncurrent Deferred & Payable Income Tax Liabilities		 10.00 9.81 8.71 7.99 7.59 9.52 9.95 9.62 26 29 35
Other Noncurrent Operating Liabilities		 24 24 24 22 24 22 21 30 30 23 26
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 210 205 222 227 230 236 240 246 317 303 314
Total Preferred & Common Equity		 206 201 217 222 225 232 235 241 312 298 309
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 206 201 217 222 225 232 235 241 312 298 309
Common Stock		 251 250 251 253 254 252 252 254 265 259 266
Retained Earnings		 -30 -28 -17 -14 -10 -4.88 -0.39 1.69 56 52 54
Accumulated Other Comprehensive Income / (Loss)		 -16 -21 -17 -17 -18 -16 -16 -14 -8.98 -13 -10
Noncontrolling Interest		 4.96 4.88 5.42 5.08 4.70 4.63 4.77 4.62 5.00 4.86 4.36

Annual Metrics And Ratios for CECO Environmental

This table displays calculated financial ratios and metrics derived from CECO Environmental's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 35,641,031.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 35,641,031.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 1.40
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 3.46 -18 -17 -41 24 9.21 4.18 17 23 29 68
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 5.19% 6.21% 6.13% 12.67%
Earnings before Interest and Taxes (EBIT)		 2.87 -25 8.13 9.64 17 15 7.63 29 35 31 104
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 20 -5.30 25 24 29 26 18 40 48 46 129
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -108 100 -22 18 12 -7.77 4.39 -28 -13 -84 -1.96
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 381 263 268 209 221 238 238 283 319 433 502
Increase / (Decrease) in Invested Capital		 112 -118 4.94 -59 12 17 -0.21 45 37 113 70
Book Value per Share		 $7.02 $5.56 $5.38 $5.11 $5.48 $5.71 $5.71 $6.22 $6.68 $7.08 $8.91
Tangible Book Value per Share		 ($2.42) ($1.84) ($1.44) ($0.80) ($0.13) ($0.05) $0.22 ($0.43) ($1.11) ($3.02) ($2.17)
Total Capital		 422 319 307 255 259 276 270 329 375 471 536
Total Debt		 177 128 120 76 66 73 64 111 137 219 212
Total Long-Term Debt		 158 114 104 74 63 69 62 108 127 217 211
Net Debt		 138 81 90 32 29 35 32 65 82 181 179
Capital Expenditures (CapEx)		 -2.44 0.42 0.66 -3.21 5.15 3.34 2.08 3.36 8.38 17 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 60 33 52 14 30 39 43 51 33 50 73
Debt-free Net Working Capital (DFNWC)		 100 81 83 59 67 77 75 98 89 88 106
Net Working Capital (NWC)		 80 67 66 57 64 74 72 94 78 86 104
Net Nonoperating Expense (NNE)		 9.20 20 -14 -34 6.26 1.04 2.20 -1.18 8.79 14 15
Net Nonoperating Obligations (NNO)		 136 73 82 31 28 34 32 65 82 181 179
Total Depreciation and Amortization (D&A)		 18 20 17 14 12 10 10 11 13 15 26
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.19) ($1.12) ($0.09) ($0.21) $0.51 $0.23 $0.04 $0.50 $0.37 $0.37 $1.42
Adjusted Weighted Average Basic Shares Outstanding		 28.79M 33.98M 34.45M 34.71M 34.99M 35.29M 35.35M 34.67M 34.67M 34.93M 35.33M
Adjusted Diluted Earnings per Share		 ($0.19) ($1.12) ($0.09) ($0.21) $0.50 $0.23 $0.04 $0.50 $0.37 $0.36 $1.37
Adjusted Weighted Average Diluted Shares Outstanding		 28.79M 33.98M 34.45M 34.71M 35.48M 35.52M 35.59M 35.01M 35.33M 36.38M 36.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 33.07M 34.39M 34.74M 34.98M 35.28M 35.35M 35.05M 34.42M 34.85M 34.99M 35.67M
Normalized Net Operating Profit after Tax (NOPAT)		 11 23 12 10 14 12 7.91 21 26 33 33
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for CECO Environmental

This table displays calculated financial ratios and metrics derived from CECO Environmental's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 35,641,031.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 35,641,031.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.09
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 6.90 6.78 5.59 5.83 8.57 4.41 10 41 12 7.42 7.22
Return On Investment Capital (ROIC_SIMPLE)		 - - 1.49% - - - 2.13% 6.50% 2.30% 1.39% 1.35%
Earnings before Interest and Taxes (EBIT)		 8.72 7.64 14 6.17 8.58 6.79 9.17 61 20 7.34 16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 11 18 9.81 12 10 13 67 25 16 22
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -42 -35 -31 6.30 -4.92 -14 -103 -117 -159 -154 -63
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 320 322 319 325 334 340 433 483 505 502 502
Increase / (Decrease) in Invested Capital		 49 42 37 -0.47 13 19 113 158 171 161 70
Book Value per Share		 $6.42 $6.48 $6.68 $6.64 $6.73 $6.90 $7.08 $8.17 $8.46 $8.75 $8.91
Tangible Book Value per Share		 ($0.87) ($1.33) ($1.11) ($1.09) ($0.91) ($1.14) ($3.02) ($3.08) ($3.01) ($2.65) ($2.17)
Total Capital		 369 370 375 372 371 379 471 630 542 534 536
Total Debt		 142 140 137 136 131 133 219 340 239 221 212
Total Long-Term Debt		 137 135 127 125 120 123 217 338 237 219 211
Net Debt		 93 92 82 89 94 94 181 193 202 188 179
Capital Expenditures (CapEx)		 1.41 1.59 2.87 3.12 4.12 4.00 6.13 3.39 1.05 4.24 2.67
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 59 38 33 39 48 35 50 52 63 66 73
Debt-free Net Working Capital (DFNWC)		 107 87 89 86 85 74 88 199 100 99 106
Net Working Capital (NWC)		 103 82 78 75 74 63 86 197 98 97 104
Net Nonoperating Expense (NNE)		 2.91 3.07 1.26 3.74 3.64 1.87 5.16 4.51 2.38 5.61 2.47
Net Nonoperating Obligations (NNO)		 93 92 82 89 94 94 181 193 202 188 179
Total Depreciation and Amortization (D&A)		 2.86 3.21 3.89 3.63 3.58 3.68 4.13 5.32 5.25 8.79 6.36
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.11 $0.10 $0.10 $0.04 $0.13 $0.06 $0.14 $1.03 $0.27 $0.04 $0.08
Adjusted Weighted Average Basic Shares Outstanding		 34.62M 34.77M 34.67M 34.85M 34.92M 34.97M 34.93M 35.03M 35.29M 35.36M 35.33M
Adjusted Diluted Earnings per Share		 $0.11 $0.09 $0.11 $0.04 $0.12 $0.06 $0.14 $0.98 $0.26 $0.04 $0.09
Adjusted Weighted Average Diluted Shares Outstanding		 35.14M 35.30M 35.33M 36.18M 36.30M 36.49M 36.38M 36.69M 36.56M 36.40M 36.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 34.77M 34.81M 34.85M 34.94M 34.96M 34.98M 34.99M 35.27M 35.33M 35.64M 35.67M
Normalized Net Operating Profit after Tax (NOPAT)		 7.17 8.17 9.86 6.08 9.60 5.14 12 3.65 13 8.25 12
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

CECO Environmental’s recent results show a business that is still growing, but with profitability and cash flow becoming more volatile quarter to quarter. Revenue has generally trended higher over the last several years, and the company has made meaningful progress on operating income in some quarters. However, heavier interest expense, restructuring costs, and working-capital swings have kept net income and operating cash flow uneven.

  • Revenue has grown materially over time. Q4 2025 revenue was $214.7 million, up from $158.6 million in Q4 2024 and $116.4 million in Q4 2022, showing a strong multi-year top-line expansion.
  • Gross profit has also scaled higher. Gross profit rose to $75.4 million in Q4 2025 from $56.7 million in Q4 2024 and $37.7 million in Q4 2022, suggesting the company is carrying more volume through the business.
  • Operating income improved sharply in the latest quarter. CECO posted $16.5 million of operating income in Q4 2025 versus $11.3 million a year earlier, helped by stronger revenue and manageable operating expenses.
  • The company generated positive operating cash flow in Q4 2025. Net cash from operating activities was $10.0 million, a solid reversal from some weaker prior quarters.
  • Debt has come down at times, indicating management is using cash to deleverage. In several quarters, debt repayment was a major cash outflow, which can be constructive if sustained.
  • Share count has been relatively stable. Basic weighted-average shares were 35.3 million in Q4 2025, not far from prior quarters, so dilution has not appeared extreme recently.
  • Balance sheet size has expanded alongside the business. Total assets were $891.9 million in Q3 2025, up from $621.5 million in Q3 2024 and $486.2 million in Q3 2023, reflecting a much larger company footprint.
  • Goodwill and intangibles remain a large part of assets. These items totaled more than $400 million in Q3 2025, so the balance sheet still carries meaningful acquisition-related value and related impairment risk.
  • Interest expense remains a significant burden. CECO’s Q4 2025 interest expense was $4.7 million, and in prior quarters it was often the key reason pre-tax income fell sharply versus operating income.
  • Working-capital swings have pressured cash flow in several periods. For example, Q4 2025 saw a negative $23.5 million change in operating assets and liabilities, which offset otherwise healthy operating performance.

Bottom line: CECO Environmental appears to be a growing industrial environmental solutions company with improving scale and periods of solid operating profitability. The main issues for investors are inconsistency in net earnings, heavy interest costs, and cash flow that can be distorted by working capital and acquisition-related items. If the company can keep revenue rising while stabilizing margins and reducing leverage, the financial profile could improve meaningfully.

06/15/26 06:21 AM ETAI Generated. May Contain Errors.

CECO Environmental Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CECO Environmental's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

CECO Environmental's net income appears to be on an upward trend, with a most recent value of $53.11 million in 2025, falling from -$5.73 million in 2015. The previous period was $14.42 million in 2024. View CECO Environmental's forecast to see where analysts expect CECO Environmental to go next.

CECO Environmental's total operating income in 2025 was $105.86 million, based on the following breakdown:
  • Total Gross Profit: $269.23 million
  • Total Operating Expenses: $163.37 million

Over the last 10 years, CECO Environmental's total revenue changed from $367.42 million in 2015 to $774.38 million in 2025, a change of 110.8%.

CECO Environmental's total liabilities were at $570.59 million at the end of 2025, a 12.4% increase from 2024, and a 61.3% increase since 2015.

In the past 10 years, CECO Environmental's cash and equivalents has ranged from $29.90 million in 2017 to $54.78 million in 2023, and is currently $33.14 million as of their latest financial filing in 2025.

Over the last 10 years, CECO Environmental's book value per share changed from 7.02 in 2015 to 8.91 in 2025, a change of 26.8%.


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Financial statements for NASDAQ:CECO last updated on 3/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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