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CECO Environmental (CECO) Financials

CECO Environmental logo
$74.10 -0.25 (-0.34%)
As of 09/4/2026 04:00 PM Eastern
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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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.88 1.51 4.49 2.09 4.88 36 9.51 1.50 3.06 -0.40 -35
Consolidated Net Income / (Loss)		 4.33 2.09 4.93 2.54 4.86 36 10 1.81 4.75 -0.25 -34
Net Income / (Loss) Continuing Operations		 4.32 2.09 4.93 2.54 4.86 36 10 1.81 4.75 -0.25 -34
Total Pre-Tax Income 		9.78 2.76 5.32 4.14 5.47 55 15 2.29 11 -3.75 -45
Total Operating Income		 13 7.69 9.26 7.19 11 62 18 9.40 17 1.88 -33
Total Gross Profit		 53 45 49 45 57 62 67 65 75 64 86
Total Revenue		 154 126 138 136 159 177 185 198 215 206 285
Operating Revenue		 154 126 138 136 159 177 185 198 215 206 285
Total Cost of Revenue		 101 81 88 90 102 115 118 133 139 142 198
Operating Cost of Revenue		 101 81 88 90 102 115 118 133 139 142 198
Total Operating Expenses		 41 37 40 38 45 0.29 49 55 59 62 120
Selling, General & Admin Expense		 37 35 36 34 41 54 49 47 51 46 64
Amortization Expense		 2.19 2.16 2.21 2.16 2.03 3.10 2.94 6.14 3.99 4.00 7.79
Other Operating Expenses / (Income)		 - - 0.64 0.44 - 0.01 -2.74 0.95 - 1.67 2.51
Restructuring Charge		 1.43 0.19 0.48 1.21 2.34 8.14 0.03 0.25 1.13 10 45
Other Special Charges / (Income)		 - 0.00 0.00 0.00 - -65 0.00 0.80 - 0.00 0.00
Total Other Income / (Expense), net		 -2.88 -4.93 -3.93 -3.05 -5.81 -6.81 -3.44 -7.11 -5.65 -5.62 -11
Interest Expense		 3.92 3.41 3.25 2.65 3.71 6.22 4.90 5.05 4.74 4.23 9.10
Other Income / (Expense), net		 1.04 -1.51 -0.68 -0.40 -2.10 -0.59 1.45 -2.06 -0.91 -1.39 -2.30
Income Tax Expense		 5.46 0.67 0.39 1.60 0.61 19 4.51 0.48 6.13 -3.50 -10
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.45 0.59 0.45 0.45 -0.02 0.46 0.60 0.31 1.69 0.15 0.28
Basic Earnings per Share		 $0.10 $0.04 $0.13 $0.06 $0.14 $1.03 $0.27 $0.04 $0.08 ($0.01) ($0.80)
Weighted Average Basic Shares Outstanding		 34.67M 34.85M 34.92M 34.97M 34.93M 35.03M 35.29M 35.36M 35.33M 35.69M 43.31M
Diluted Earnings per Share		 $0.11 $0.04 $0.12 $0.06 $0.14 $0.98 $0.26 $0.04 $0.09 ($0.01) ($0.80)
Weighted Average Diluted Shares Outstanding		 35.33M 36.18M 36.30M 36.49M 36.38M 36.69M 36.56M 36.40M 36.60M 35.69M 43.31M
Weighted Average Basic & Diluted Shares Outstanding		 34.85M 34.94M 34.96M 34.98M 34.99M 35.27M 35.33M 35.64M 35.67M 35.87M 58.57M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 3/31/2026
Net Change in Cash & Equivalents		 -0.22 7.11 -8.42 -10 2.01 -0.73 108 -110 -4.04 0.35 12
Net Cash From Operating Activities		 30 15 1.22 6.67 15 1.83 -12 -7.67 15 9.96 -13
Net Cash From Continuing Operating Activities		 30 15 1.22 6.67 15 1.83 -12 -7.67 15 9.96 -13
Net Income / (Loss) Continuing Operations		 3.71 4.33 2.09 4.93 2.54 4.86 36 10 1.81 4.75 -0.25
Consolidated Net Income / (Loss)		 3.71 4.33 2.09 4.93 2.54 4.86 36 10 1.81 4.75 -0.25
Depreciation Expense		 3.12 3.74 3.51 3.46 3.56 3.99 5.12 5.04 8.57 6.16 6.10
Amortization Expense		 0.09 0.16 0.12 0.12 0.12 0.14 0.21 0.21 0.22 0.20 0.20
Non-Cash Adjustments To Reconcile Net Income		 -8.29 3.89 11 8.12 -6.05 19 -68 -12 -1.75 22 73
Changes in Operating Assets and Liabilities, net		 31 3.04 -16 -9.97 15 -26 14 -11 6.42 -23 -92
Net Cash From Investing Activities		 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02 -2.29 -2.60 -9.21
Net Cash From Continuing Investing Activities		 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02 -2.29 -2.60 -9.21
Purchase of Property, Plant & Equipment		 -1.59 -2.87 -3.12 -4.12 -4.00 -6.13 -3.39 -1.05 -4.24 -2.67 -2.59
Acquisitions		 - - 0.42 - - - -98 0.03 - - -6.62
Other Investing Activities, net		 - - 0.00 - - - 106 - 1.95 - 0.00
Net Cash From Financing Activities		 -4.33 -4.03 -6.53 -10 2.05 80 116 -102 -17 -8.72 35
Net Cash From Continuing Financing Activities		 -4.33 -4.03 -6.53 -10 2.05 80 116 -102 -17 -8.72 35
Repayment of Debt		 -1.73 -78 -1.75 -4.95 2.46 85 120 -101 -18 -8.67 41
Payment of Dividends		 -0.77 -0.30 -0.80 -0.30 -0.60 -0.40 -0.40 - -0.80 -0.40 -0.80
Other Financing Activities, net		 -2.12 0.58 -0.97 -2.95 -0.23 -3.56 -3.92 -0.38 1.80 0.35 -5.17
Effect of Exchange Rate Changes		 -0.44 -1.15 -0.42 -2.63 4.24 -3.86 -0.41 0.48 0.03 1.71 -0.06
Cash Interest Paid		 3.15 3.57 3.27 3.31 3.14 3.62 3.99 6.95 4.92 4.55 4.04
Cash Income Taxes Paid		 1.03 1.28 0.98 2.83 2.98 2.77 2.41 16 3.78 2.31 0.49

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 568 583 600 589 598 622 957 877 892 1,027 3,734
Total Current Assets		 275 291 285 272 281 276 476 383 395 539 980
Cash & Equivalents		 41 48 48 47 37 39 146 37 33 45 61
Restricted Cash		 0.97 0.94 0.75 0.47 0.39 0.23 0.21 0.09 0.09 0.10 2.78
Accounts Receivable		 110 127 112 117 127 100 152 161 160 279 459
Inventories, net		 30 32 38 38 38 38 53 60 58 60 211
Prepaid Expenses		 12 16 15 11 20 27 37 30 29 41 77
Current Deferred & Refundable Income Taxes		 1.25 6.46 6.58 0.74 3.22 3.83 3.86 3.86 6.34 11 29
Other Current Assets		 80 62 65 59 55 69 83 91 110 104 139
Plant, Property, & Equipment, net		 24 24 25 28 30 32 46 47 48 48 176
Total Noncurrent Assets		 268 267 290 290 286 313 435 447 448 440 2,578
Goodwill		 208 200 210 211 211 220 275 288 292 291 1,501
Intangible Assets		 45 52 62 58 56 61 119 117 111 109 1,009
Noncurrent Deferred & Refundable Income Taxes		 0.82 0.82 0.80 0.29 0.26 0.29 0.21 0.29 1.16 0.00 0.00
Other Noncurrent Operating Assets		 15 14 17 20 19 31 41 42 44 40 68
Total Liabilities & Shareholders' Equity		 568 583 600 589 598 622 957 877 892 1,027 3,734
Total Liabilities		 345 355 370 353 358 376 667 573 578 710 1,652
Total Current Liabilities		 172 188 203 196 207 213 279 285 298 406 652
Short-Term Debt		 3.85 4.31 4.73 11 11 11 1.67 1.86 1.93 5.34 17
Accounts Payable		 112 116 94 79 91 92 110 126 128 138 196
Accrued Expenses		 - - 44 46 45 44 59 54 61 71 114
Current Deferred Revenue		 52 61 54 58 60 65 88 93 107 184 324
Current Deferred & Payable Income Tax Liabilities		 3.19 3.79 3.47 0.82 1.21 0.00 20 8.51 0.79 7.42 1.58
Other Current Liabilities		 1.00 2.50 2.50 1.50 0.00 1.70 0.70 1.70 0.00 0.00 0.00
Total Noncurrent Liabilities		 174 167 167 157 151 162 388 288 280 304 1,000
Long-Term Debt		 141 137 135 125 120 123 338 237 219 248 711
Noncurrent Deferred & Payable Income Tax Liabilities		 8.71 7.99 7.59 9.52 9.95 9.62 26 29 35 26 236
Other Noncurrent Operating Liabilities		 24 22 24 22 21 30 24 23 26 30 53
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		 222 227 230 236 240 246 290 303 314 317 2,081
Total Preferred & Common Equity		 217 222 225 232 235 241 286 298 309 312 2,076
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		 217 222 225 232 235 241 286 298 309 312 2,076
Common Stock		 251 253 254 252 252 254 256 259 266 265 2,070
Retained Earnings		 -17 -14 -10 -4.88 -0.39 1.69 43 52 54 56 21
Accumulated Other Comprehensive Income / (Loss)		 -17 -17 -18 -16 -16 -14 -13 -13 -10 -8.98 -16
Noncontrolling Interest		 5.42 5.08 4.70 4.63 4.77 4.62 4.26 4.86 4.36 5.00 5.28

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 35,641,031.00 35,665,813.00 35,873,031.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 35,641,031.00 35,665,813.00 35,873,031.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.09 -0.01 -0.97
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 32.05% 12.23% 6.46% -9.29% 3.16% 39.87% 34.81% 45.82% - 16.54% 53.71%
EBITDA Growth		 11.81% 24.70% 5.00% -3.47% -24.38% 579.21% 103.66% 54.09% - -89.81% -211.81%
EBIT Growth		 8.39% 26.31% -1.67% -11.10% -33.02% 892.65% 127.50% 8.18% - -99.21% -281.79%
NOPAT Growth		 -17.19% 6.73% 24.21% -35.04% 79.22% 602.58% 45.67% 68.32% - -96.79% -285.99%
Net Income Growth		 -49.43% -15.23% 23.56% -31.60% 12.22% 1,641.14% 104.99% -28.83% - -100.68% -441.27%
EPS Growth		 -52.17% -33.33% 9.09% -33.33% 27.27% 2,350.00% 116.67% -33.33% - -101.02% -407.69%
Operating Cash Flow Growth		 52.28% 110.18% -41.57% -49.81% -87.94% -1,055.56% -215.00% 1.02% - -12.00% 0.00%
Free Cash Flow Firm Growth		 19.09% 112.08% 88.35% 60.14% -233.33% -1,962.41% -3,127.62% -987.81% - 65.45% -1,324.88%
Invested Capital Growth		 12.93% -0.15% 4.21% 5.76% 35.46% 48.75% 51.34% 47.38% - 8.66% 443.52%
Revenue Q/Q Growth		 2.89% -17.81% 8.86% -1.46% 17.01% 11.43% 4.92% 6.59% - -4.09% 0.00%
EBITDA Q/Q Growth		 62.17% -44.25% 24.01% -13.90% 27.03% 400.77% -62.82% -34.85% - -69.13% 0.00%
EBIT Q/Q Growth		 79.30% -54.92% 38.96% -20.86% 35.09% 568.15% -68.15% -62.37% - -96.91% 0.00%
NOPAT Q/Q Growth		 -17.58% 4.24% 47.07% -48.59% 127.41% 308.64% -69.51% -40.60% - -81.82% 0.00%
Net Income Q/Q Growth		 16.65% -51.66% 135.55% -48.50% 91.37% 649.99% -72.27% -82.12% - -105.22% 0.00%
EPS Q/Q Growth		 22.22% -63.64% 200.00% -50.00% 133.33% 600.00% -73.47% -84.62% - -111.11% 0.00%
Operating Cash Flow Q/Q Growth		 -49.65% -91.92% 444.69% 126.62% -87.90% -739.82% 34.45% 299.07% - -231.51% 0.00%
Free Cash Flow Firm Q/Q Growth		 12.71% 120.35% -178.09% -187.36% -629.95% -13.69% -35.34% 3.15% - 35.24% 0.00%
Invested Capital Q/Q Growth		 -0.77% 1.71% 2.76% 1.99% 27.10% 11.68% 4.55% -0.68% - 4.49% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 34.60% 35.72% 35.66% 33.40% 35.76% 35.18% 36.20% 32.68% - 31.04% 30.34%
EBITDA Margin		 11.44% 7.76% 8.84% 7.73% 8.39% 37.69% 13.36% 8.16% - 3.30% -9.72%
Operating Margin		 8.23% 6.08% 6.73% 5.30% 7.11% 35.01% 9.74% 4.76% - 0.91% -11.64%
EBIT Margin		 8.91% 4.89% 6.24% 5.01% 5.78% 34.68% 10.53% 3.72% - 0.23% -12.45%
Profit (Net Income) Margin		 2.82% 1.66% 3.58% 1.87% 3.06% 20.62% 5.45% 0.91% - -0.12% -12.10%
Tax Burden Percent		 44.30% 75.83% 92.60% 61.31% 88.90% 66.19% 69.14% 78.91% - 6.62% 77.37%
Interest Burden Percent		 71.39% 44.71% 62.07% 61.00% 59.60% 89.85% 74.90% 31.18% - -775.78% 125.66%
Effective Tax Rate		 55.81% 24.17% 7.40% 38.69% 11.11% 33.81% 30.86% 21.09% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.58% 7.93% 10.81% 5.43% 9.38% 34.90% 10.54% 6.40% - 1.02% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.86% 4.03% 6.91% 3.43% 5.45% 31.70% 8.93% 2.43% - 0.24% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 1.56% 1.69% 2.77% 1.34% 2.92% 16.97% 4.86% 1.23% - 0.16% 0.00%
Return on Equity (ROE)		 8.15% 9.62% 13.58% 6.77% 12.30% 51.87% 15.40% 7.63% - 1.17% 0.00%
Cash Return on Invested Capital (CROIC)		 -4.41% 7.47% 3.66% 1.41% -22.45% -23.74% -24.89% -21.88% - -2.09% 0.00%
Operating Return on Assets (OROA)		 8.78% 4.72% 5.99% 4.54% 4.75% 27.29% 9.37% 3.53% - 0.19% 0.00%
Return on Assets (ROA)		 2.78% 1.60% 3.44% 1.70% 2.51% 16.23% 4.85% 0.87% - -0.10% 0.00%
Return on Common Equity (ROCE)		 7.97% 9.41% 13.29% 6.64% 12.07% 50.99% 15.13% 7.51% - 1.16% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 6.10% 6.41% 5.76% 0.00% 17.06% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 5.59 5.83 8.57 4.41 10 41 12 7.42 7.22 1.31 -23
NOPAT Margin		 3.64% 4.61% 6.23% 3.25% 6.32% 23.18% 6.74% 3.75% - 0.64% -8.15%
Net Nonoperating Expense Percent (NNEP)		 1.72% 3.90% 3.90% 2.01% 3.93% 3.20% 1.61% 3.97% - 0.78% 2.60%
Return On Investment Capital (ROIC_SIMPLE)		 1.49% - - - 2.13% 6.50% 2.30% 1.39% 1.35% 0.23% -0.83%
Cost of Revenue to Revenue		 65.40% 64.28% 64.34% 66.60% 64.24% 64.82% 63.80% 67.32% - 68.96% 69.66%
SG&A Expenses to Revenue		 23.98% 27.63% 26.52% 25.28% 25.90% 30.31% 26.33% 23.80% - 22.38% 22.42%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 26.37% 29.64% 28.93% 28.10% 28.65% 0.17% 26.46% 27.92% - 30.13% 41.99%
Earnings before Interest and Taxes (EBIT)		 14 6.17 8.58 6.79 9.17 61 20 7.34 16 0.48 -35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 18 9.81 12 10 13 67 25 16 22 6.79 -28
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.03 3.47 4.29 4.09 4.27 2.79 3.35 5.85 - 6.81 1.57
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Price to Revenue (P/Rev)		 1.30 1.44 1.78 1.78 1.90 1.31 1.52 2.52 - 2.64 0.00
Price to Earnings (P/E)		 54.68 64.49 76.34 82.45 81.61 16.82 19.03 34.87 - 155.46 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield		 1.83% 1.55% 1.31% 1.21% 1.23% 5.95% 5.25% 2.87% - 0.64% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.48 2.76 3.32 3.19 2.87 2.06 2.39 3.99 - 4.45 1.43
Enterprise Value to Revenue (EV/Rev)		 1.45 1.60 1.95 1.96 2.23 1.64 1.84 2.79 - 2.91 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 16.56 17.98 21.96 21.69 27.16 9.71 10.47 16.57 - 33.56 0.00
Enterprise Value to EBIT (EV/EBIT)		 22.69 24.72 30.67 30.79 40.45 11.60 12.46 20.57 - 54.41 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 34.04 37.60 43.49 46.75 43.05 15.94 18.00 28.94 - 74.63 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.75 15.47 20.82 28.44 50.04 83.56 0.00 0.00 - 524.50 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 36.87 92.58 232.76 0.00 0.00 0.00 0.00 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.58 0.57 0.55 0.54 0.87 1.17 0.79 0.70 - 0.80 0.35
Long-Term Debt to Equity		 0.53 0.53 0.50 0.50 0.86 1.17 0.78 0.70 - 0.78 0.34
Financial Leverage		 0.32 0.42 0.40 0.39 0.54 0.54 0.54 0.51 - 0.66 0.36
Leverage Ratio		 2.43 2.52 2.53 2.57 2.78 2.94 2.72 2.71 - 3.27 1.93
Compound Leverage Factor		 1.73 1.13 1.57 1.57 1.66 2.64 2.03 0.84 - -25.35 2.43
Debt to Total Capital		 36.63% 36.48% 35.30% 35.17% 46.49% 53.94% 44.05% 41.33% - 44.39% 25.91%
Short-Term Debt to Total Capital		 2.80% 2.85% 2.85% 2.79% 0.35% 0.27% 0.34% 0.36% - 0.94% 0.59%
Long-Term Debt to Total Capital		 33.83% 33.64% 32.44% 32.38% 46.14% 53.68% 43.71% 40.97% - 43.46% 25.32%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.29% 1.25% 1.29% 1.22% 0.89% 0.68% 0.90% 0.82% - 0.88% 0.19%
Common Equity to Total Capital		 62.08% 62.27% 63.41% 63.61% 52.61% 45.38% 55.05% 57.85% - 54.73% 73.90%
Debt to EBITDA		 2.87 2.72 2.60 2.67 4.79 3.31 2.07 1.83 - 3.64 0.00
Net Debt to EBITDA		 1.71 1.78 1.86 1.89 3.95 1.88 1.75 1.56 - 2.98 0.00
Long-Term Debt to EBITDA		 2.65 2.51 2.39 2.46 4.75 3.30 2.06 1.81 - 3.56 0.00
Debt to NOPAT		 5.89 5.70 5.14 5.75 7.58 5.44 3.57 3.20 - 8.09 0.00
Net Debt to NOPAT		 3.51 3.72 3.69 4.07 6.26 3.09 3.01 2.72 - 6.63 0.00
Long-Term Debt to NOPAT		 5.44 5.25 4.73 5.29 7.53 5.42 3.54 3.17 - 7.91 0.00
Altman Z-Score		 2.29 2.49 2.83 2.63 2.17 1.87 2.08 2.92 - 2.81 0.00
Noncontrolling Interest Sharing Ratio		 2.14% 2.19% 2.11% 1.96% 1.85% 1.69% 1.77% 1.61% - 1.53% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.39 1.38 1.36 1.30 1.35 1.71 1.34 1.33 - 1.33 1.50
Quick Ratio		 0.82 0.83 0.79 0.65 0.81 1.07 0.70 0.65 - 0.80 0.80
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -31 6.30 -4.92 -14 -103 -117 -159 -154 -63 -41 -2,263
Operating Cash Flow to CapEx		 527.53% 39.28% 161.94% 377.35% 29.82% -345.52% -732.28% 359.89% - -505.99% 0.00%
Free Cash Flow to Firm to Interest Expense		 -7.90 1.85 -1.51 -5.34 -27.86 -18.88 -32.43 -30.44 - -9.58 -248.65
Operating Cash Flow to Interest Expense		 3.87 0.36 2.05 5.71 0.49 -1.88 -1.57 3.02 - -3.10 0.00
Operating Cash Flow Less CapEx to Interest Expense		 3.14 -0.55 0.78 4.19 -1.16 -2.43 -1.78 2.18 - -3.71 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.99 0.97 0.96 0.91 0.82 0.79 0.89 0.95 - 0.81 0.00
Accounts Receivable Turnover		 5.56 4.93 4.47 5.20 4.10 4.52 4.55 5.53 - 3.73 0.00
Inventory Turnover		 12.33 11.05 10.71 9.53 9.43 8.69 8.65 9.80 - 9.42 0.00
Fixed Asset Turnover		 23.15 21.64 20.81 19.30 18.58 16.48 17.06 17.88 - 17.07 0.00
Accounts Payable Turnover		 4.64 3.96 3.63 3.86 3.67 4.19 3.92 4.25 - 4.31 0.00
Days Sales Outstanding (DSO)		 65.59 74.01 81.64 70.13 89.07 80.72 80.23 65.99 - 97.87 0.00
Days Inventory Outstanding (DIO)		 29.59 33.05 34.08 38.31 38.70 42.01 42.20 37.25 - 38.75 0.00
Days Payable Outstanding (DPO)		 78.65 92.20 100.44 94.45 99.56 87.10 93.16 85.80 - 84.67 0.00
Cash Conversion Cycle (CCC)		 16.54 14.85 15.28 13.99 28.21 35.63 29.28 17.44 - 51.95 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 319 325 334 340 433 483 505 502 502 525 2,745
Invested Capital Turnover		 1.81 1.72 1.73 1.67 1.48 1.51 1.56 1.71 - 1.59 0.00
Increase / (Decrease) in Invested Capital		 37 -0.47 13 19 113 158 171 161 70 42 2,240
Enterprise Value (EV)		 793 896 1,107 1,085 1,242 995 1,205 2,001 - 2,338 3,924
Market Capitalization		 706 802 1,008 986 1,057 798 998 1,809 - 2,125 3,255
Book Value per Share		 $6.68 $6.64 $6.73 $6.90 $7.08 $8.17 $8.46 $8.75 $8.91 $8.75 $57.87
Tangible Book Value per Share		 ($1.11) ($1.09) ($0.91) ($1.14) ($3.02) ($3.08) ($3.01) ($2.65) ($2.17) ($2.46) ($12.11)
Total Capital		 375 372 371 379 471 630 542 534 536 570 2,809
Total Debt		 137 136 131 133 219 340 239 221 212 253 728
Total Long-Term Debt		 127 125 120 123 217 338 237 219 211 248 711
Net Debt		 82 89 94 94 181 193 202 188 179 208 664
Capital Expenditures (CapEx)		 2.87 3.12 4.12 4.00 6.13 3.39 1.05 4.24 2.67 2.59 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 33 39 48 35 50 52 63 66 73 93 280
Debt-free Net Working Capital (DFNWC)		 89 86 85 74 88 199 100 99 106 139 344
Net Working Capital (NWC)		 78 75 74 63 86 197 98 97 104 133 327
Net Nonoperating Expense (NNE)		 1.26 3.74 3.64 1.87 5.16 4.51 2.38 5.61 2.47 1.56 11
Net Nonoperating Obligations (NNO)		 82 89 94 94 181 193 202 188 179 208 664
Total Depreciation and Amortization (D&A)		 3.89 3.63 3.58 3.68 4.13 5.32 5.25 8.79 6.36 6.30 7.79
Debt-free, Cash-free Net Working Capital to Revenue		 6.12% 6.95% 8.42% 6.29% 8.92% 8.61% 9.59% 9.22% - 11.61% 0.00%
Debt-free Net Working Capital to Revenue		 16.30% 15.37% 14.93% 13.32% 15.77% 32.72% 15.21% 13.80% - 17.27% 0.00%
Net Working Capital to Revenue		 14.38% 13.48% 13.06% 11.41% 15.47% 32.44% 14.93% 13.53% - 16.61% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.10 $0.04 $0.13 $0.06 $0.14 $1.03 $0.27 $0.04 $0.08 ($0.01) ($0.80)
Adjusted Weighted Average Basic Shares Outstanding		 34.67M 34.85M 34.92M 34.97M 34.93M 35.03M 35.29M 35.36M 35.33M 35.69M 43.31M
Adjusted Diluted Earnings per Share		 $0.11 $0.04 $0.12 $0.06 $0.14 $0.98 $0.26 $0.04 $0.09 ($0.01) ($0.80)
Adjusted Weighted Average Diluted Shares Outstanding		 35.33M 36.18M 36.30M 36.49M 36.38M 36.69M 36.56M 36.40M 36.60M 35.69M 43.31M
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		 34.85M 34.94M 34.96M 34.98M 34.99M 35.27M 35.33M 35.64M 35.67M 35.87M 58.57M
Normalized Net Operating Profit after Tax (NOPAT)		 9.86 6.08 9.60 5.14 12 3.65 13 8.25 12 8.51 8.60
Normalized NOPAT Margin		 6.41% 4.81% 6.98% 3.79% 7.63% 2.06% 6.75% 4.17% - 4.13% 3.02%
Pre Tax Income Margin		 6.36% 2.18% 3.87% 3.06% 3.45% 31.16% 7.88% 1.16% - -1.82% -15.64%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.49 1.81 2.64 2.56 2.48 9.86 3.98 1.45 - 0.11 -3.90
NOPAT to Interest Expense		 1.43 1.71 2.63 1.66 2.70 6.59 2.55 1.47 - 0.31 -2.55
EBIT Less CapEx to Interest Expense		 2.76 0.90 1.37 1.05 0.82 9.31 3.77 0.61 - -0.50 0.00
NOPAT Less CapEx to Interest Expense		 0.69 0.79 1.37 0.15 1.05 6.04 2.34 0.63 - -0.30 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 11.49% 17.49% 14.42% 14.46% 14.62% 3.50% 2.61% 3.02% - 12.23% 0.00%
Augmented Payout Ratio		 11.49% 38.73% 47.61% 50.45% 49.30% 7.60% 2.61% 3.02% - 12.23% 0.00%

Financials Breakdown Chart

Key Financial Trends

CECO Environmental’s growth profile has strengthened, but profitability and cash-flow trends have become more volatile. Revenue increased from $105.4 million in Q2 2022 to $285.0 million in Q2 2026, a rise of roughly 170%. The company also posted sequential revenue growth of about 38% from Q1 2026. However, Q2 2026 gross margin fell to approximately 30.3%, compared with 36.2% in Q2 2025, as operating costs and a $45.5 million restructuring charge pushed the company to a $33.2 million operating loss and a $34.5 million net loss.

The balance sheet has expanded substantially, likely reflecting acquisitions and other growth investments. Total assets reached $3.73 billion in Q2 2026, compared with $876.6 million in Q2 2025 and $481.7 million in Q2 2022. Goodwill and intangible assets accounted for approximately $2.51 billion of the latest asset base, making acquisition performance and potential impairment charges important considerations for investors. Total debt increased to approximately $727.7 million in Q2 2026 from $238.7 million a year earlier, although liquidity remained adequate, with a current ratio of about 1.5 and $63.8 million of cash and restricted cash.

Cash generation is a key area to monitor. CECO produced positive operating cash flow in the 2023 and 2024 comparison quarters, but the latest available cash-flow statement showed a $13.1 million operating cash outflow in Q1 2026. That outflow occurred despite only a modest reported net loss and was primarily associated with unfavorable changes in operating assets and liabilities. The provided data also includes several restated or calculated historical periods, so investors should rely on the company’s latest filings when making precise year-over-year comparisons.

  • Strong top-line expansion: Quarterly revenue rose from $105.4 million in Q2 2022 to $285.0 million in Q2 2026, indicating substantial scale growth.
  • Improved long-term gross profit dollars: Gross profit increased from $31.7 million in Q2 2022 to $86.5 million in Q2 2026, despite the recent margin compression.
  • Better liquidity than in prior periods: Q2 2026 current assets of $979.6 million exceeded current liabilities of $652.3 million, while cash and restricted cash totaled $63.8 million.
  • Positive balance-sheet equity position: Total equity and noncontrolling interests reached $2.08 billion in Q2 2026, providing a substantial accounting capital base following the company’s expansion.
  • Acquisition-driven growth potential: The sharp increase in assets, revenue and deferred revenue suggests that acquisitions and expanded operations may provide additional future sales opportunities if integration is successful.
  • Deferred revenue increased materially: Current deferred revenue grew to $323.9 million in Q2 2026 from $93.0 million in Q2 2024, which may support future revenue recognition but also raises execution and delivery obligations.
  • Operating scale is increasing: Selling, general and administrative expense rose to $63.9 million in Q2 2026 from $36.5 million in Q2 2024, so future investor returns will depend on whether revenue growth outpaces overhead growth.
  • Q2 2026 profitability deteriorated sharply: The company swung from $10.1 million of net income in Q2 2025 to a $34.5 million net loss in Q2 2026, with basic and diluted EPS declining to negative $0.80.
  • Large restructuring charge: The $45.5 million Q2 2026 restructuring expense exceeded the company’s gross profit improvement from the prior-year quarter and was the primary driver of the operating loss.
  • Higher leverage and weak recent cash flow: Total debt rose by roughly $489 million year over year, while the latest available quarter showed negative operating cash flow of $13.1 million, limiting financial flexibility if weak profitability persists.
09/05/26 03:31 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 fiscal year ends in December. Their fiscal 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. See CECO Environmental's forecast for analyst expectations on what's next for the company.

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 9/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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