Ameresco (AMRC) Financials

$13.79 -0.57 (-3.97%)

Closing price 03:59 PM Eastern

Extended Trading

$13.76 -0.02 (-0.18%)

As of 06:02 PM Eastern

Annual Income Statements for Ameresco

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	57	62	95
Consolidated Net Income / (Loss)	54	64	99
Net Income / (Loss) Continuing Operations	54	64	99
Total Pre-Tax Income	34	38	106
Total Operating Income	108	80	131
Total Gross Profit	256	246	291
Total Revenue	1,770	1,375	1,824
Operating Revenue	1,770	1,375	1,824
Total Cost of Revenue	1,514	1,128	1,534
Operating Cost of Revenue	1,514	1,128	1,534
Total Operating Expenses	148	166	159
Selling, General & Admin Expense	174	162	159
Other Operating Expenses / (Income)	-38	0.00	0.00
Impairment Charge	12	3.83	0.00
Total Other Income / (Expense), net	-74	-42	-26
Interest & Investment Income	0.79	1.76	1.65
Other Income / (Expense), net	-75	-44	-27
Income Tax Expense	-20	-26	7.17
Net Income / (Loss) Attributable to Noncontrolling Interest	-2.82	1.43	3.62
Basic Earnings per Share	$1.08	$1.20	$1.83
Weighted Average Basic Shares Outstanding	52.38M	52.14M	51.84M
Diluted Earnings per Share	$1.07	$1.17	$1.78
Weighted Average Diluted Shares Outstanding	53.14M	53.23M	53.28M
Weighted Average Basic & Diluted Shares Outstanding	52.54M	52.28M	51.95M

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-5.48	37	18	5.01	-2.94	34	21	6.37	1.10	18	27
Consolidated Net Income / (Loss)	-5.61	38	17	5.19	-6.18	33	21	8.41	1.56	19	28
Net Income / (Loss) Continuing Operations	-5.61	38	17	5.19	-6.18	33	21	8.41	1.56	19	28
Total Pre-Tax Income	-4.42	21	14	5.19	-6.18	18	11	8.42	1.05	15	31
Total Operating Income	14	44	35	21	7.99	32	21	18	9.10	21	39
Total Gross Profit	52	67	77	65	47	74	64	59	50	62	80
Total Revenue	353	533	501	438	298	441	335	327	271	332	441
Operating Revenue	353	533	501	438	298	441	335	327	271	332	441
Total Cost of Revenue	301	466	424	373	251	367	271	268	221	270	362
Operating Cost of Revenue	301	466	424	373	251	367	271	268	221	270	362
Total Operating Expenses	38	22	42	44	40	41	43	41	41	39	41
Selling, General & Admin Expense	38	48	42	44	40	37	43	41	41	39	41
Total Other Income / (Expense), net	-18	-23	-21	-16	-14	-16	-10	-8.82	-7.59	-7.23	-7.06
Interest & Investment Income	0.26	0.07	0.16	0.01	0.56	0.40	0.53	0.38	0.45	0.17	0.49
Other Income / (Expense), net	-18	-23	-21	-16	-14	-16	-11	-9.20	-8.04	-7.40	-7.55
Income Tax Expense	1.19	-17	-3.32	0.00	0.00	-15	-10	0.01	-0.50	-3.73	3.66
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.12	0.83	-0.59	0.18	-3.24	-0.64	-0.42	2.05	0.46	0.71	0.34
Basic Earnings per Share	($0.10)	$0.70	$0.34	$0.10	($0.06)	$0.65	$0.41	$0.12	$0.02	$0.34	$0.53
Weighted Average Basic Shares Outstanding	52.54M	52.38M	52.41M	52.36M	52.29M	52.14M	52.21M	52.13M	51.96M	51.84M	51.87M
Diluted Earnings per Share	($0.10)	$0.71	$0.33	$0.09	($0.06)	$0.63	$0.40	$0.12	$0.02	$0.34	$0.51
Weighted Average Diluted Shares Outstanding	52.54M	53.14M	53.24M	53.11M	52.29M	53.23M	53.30M	53.21M	53.26M	53.28M	53.30M
Weighted Average Basic & Diluted Shares Outstanding	52.60M	52.54M	52.44M	52.40M	52.34M	52.28M	52.23M	52.20M	52.12M	51.95M	51.91M

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	45	3.79	63
Net Cash From Operating Activities	118	-70	-338
Net Cash From Continuing Operating Activities	118	-70	-338
Net Income / (Loss) Continuing Operations	54	64	99
Consolidated Net Income / (Loss)	54	64	99
Depreciation Expense	87	64	52
Amortization Expense	7.29	6.57	6.07
Non-Cash Adjustments To Reconcile Net Income	-119	-265	-519
Changes in Operating Assets and Liabilities, net	89	61	24
Net Cash From Investing Activities	-387	-567	-328
Net Cash From Continuing Investing Activities	-387	-567	-328
Purchase of Property, Plant & Equipment	-438	-552	-328
Acquisitions	0.00	-9.75	-0.46
Purchase of Investments	-12	-5.43	0.00
Divestitures	67	0.00	0.00
Other Investing Activities, net	-3.87	0.00	0.00
Net Cash From Financing Activities	314	641	730
Net Cash From Continuing Financing Activities	314	641	730
Repayment of Debt	9.96	488	146
Payment of Dividends	-1.79	-23	-1.13
Issuance of Debt	100	0.00	295
Issuance of Common Equity	38	8.19	39
Other Financing Activities, net	168	167	252
Effect of Exchange Rate Changes	-0.20	-0.08	-0.75
Cash Interest Paid	110	80	33
Cash Income Taxes Paid	4.46	3.83	7.28

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-32	-6.01	-29	85	-5.71	-22	74	-112	64	-14	52
Net Cash From Operating Activities	-28	18	25	53	21	-30	-6.57	-93	59	-65	35
Net Cash From Continuing Operating Activities	-28	18	25	53	21	-30	-6.57	-93	59	-65	35
Net Income / (Loss) Continuing Operations	-5.61	38	17	5.19	-6.18	33	21	8.41	1.56	19	28
Consolidated Net Income / (Loss)	-5.61	38	17	5.19	-6.18	33	21	8.41	1.56	19	28
Depreciation Expense	23	26	23	20	18	18	16	15	14	13	14
Amortization Expense	1.98	1.91	1.98	1.88	1.52	1.48	1.73	2.26	1.09	1.74	1.28
Non-Cash Adjustments To Reconcile Net Income	20	-171	121	-47	-23	-150	-62	-119	66	-32	-24
Changes in Operating Assets and Liabilities, net	-68	124	-138	73	30	68	16	0.61	-24	-67	16
Net Cash From Investing Activities	-118	-31	-122	-129	-104	-102	-186	-178	-101	-126	-70
Net Cash From Continuing Investing Activities	-118	-31	-122	-129	-104	-102	-186	-178	-101	-126	-70
Purchase of Property, Plant & Equipment	-114	-80	-118	-128	-112	-94	-188	-178	-92	-126	-70
Acquisitions	-4.13	10	-4.25	-1.42	-4.78	-2.72	2.19	-0.00	-9.22	-0.00	-0.46
Divestitures	0.00	54	0.14	-	13	-	-	-	0.00	-	-
Net Cash From Financing Activities	115	8.89	67	161	77	108	267	159	106	176	89
Net Cash From Continuing Financing Activities	115	8.89	67	161	77	108	267	159	106	176	89
Repayment of Debt	-21	537	-250	-212	-65	787	-152	-131	-16	121	129
Payment of Dividends	-1.00	-0.01	-0.52	-1.07	-0.20	-1.49	-0.16	-21	-0.16	-0.34	-0.22
Issuance of Debt	100	-564	304	270	89	-729	385	286	58	-36	-97
Issuance of Common Equity	3.29	2.48	3.40	3.24	29	4.31	0.27	-13	17	21	1.85
Other Financing Activities, net	33	33	9.21	101	24	47	35	38	47	70	55
Effect of Exchange Rate Changes	0.52	-2.03	1.76	0.20	-0.13	0.90	-0.92	-0.10	0.04	1.11	-0.57
Cash Interest Paid	22	30	28	26	27	29	19	19	13	9.30	9.99
Cash Income Taxes Paid	1.17	2.51	1.12	0.77	0.06	1.12	0.22	2.18	0.32	3.55	0.90

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	4,159	3,714	2,877
Total Current Assets	1,301	1,128	1,001
Cash & Equivalents	109	79	116
Restricted Cash	70	62	21
Note & Lease Receivable	40	34	38
Accounts Receivable	257	153	174
Inventories, net	12	14	14
Prepaid Expenses	146	123	39
Current Deferred & Refundable Income Taxes	1.69	5.78	7.75
Other Current Assets	667	657	592
Plant, Property, & Equipment, net	11	17	16
Total Noncurrent Assets	2,846	2,568	1,860
Noncurrent Note & Lease Receivables	609	609	510
Goodwill	66	76	71
Intangible Assets	8.81	6.81	4.69
Noncurrent Deferred & Refundable Income Taxes	57	26	3.05
Other Noncurrent Operating Assets	2,106	1,850	1,272
Total Liabilities & Shareholders' Equity	4,159	3,714	2,877
Total Liabilities	3,111	2,741	1,957
Total Current Liabilities	889	901	812
Short-Term Debt	149	322	331
Accounts Payable	529	403	349
Accrued Expenses	107	109	89
Current Deferred Revenue	92	53	35
Current Deferred & Payable Income Tax Liabilities	0.74	1.17	1.67
Other Current Liabilities	11	14	5.83
Total Noncurrent Liabilities	2,222	1,840	1,145
Long-Term Debt	1,484	1,170	569
Capital Lease Obligations	59	42	32
Noncurrent Deferred & Payable Income Tax Liabilities	2.22	4.48	9.18
Other Noncurrent Operating Liabilities	676	623	536
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	2.46	47	47
Total Equity & Noncontrolling Interests	1,045	926	873
Total Preferred & Common Equity	1,013	902	824
Preferred Stock	0.00	0.00	0.00
Total Common Equity	1,013	902	824
Common Stock	378	321	306
Retained Earnings	653	596	534
Treasury Stock	-12	-12	-12
Accumulated Other Comprehensive Income / (Loss)	-5.87	-3.05	-4.05
Noncontrolling Interest	32	24	49

This table presents Ameresco'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 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,170	3,982	3,965	3,803	3,461	3,041	2,967	3,038
Total Current Assets	1,257	1,225	1,240	1,126	1,030	922	958	1,093
Cash & Equivalents	72	114	150	78	108	49	179	123
Restricted Cash	75	72	68	58	57	39	21	24
Note & Lease Receivable	45	43	39	32	33	38	36	42
Accounts Receivable	227	230	155	147	133	123	131	220
Inventories, net	12	12	12	13	14	14	14	13
Prepaid Expenses	242	155	134	119	68	59	56	22
Current Deferred & Refundable Income Taxes	2.09	4.47	4.82	4.84	7.22	7.50	7.63	4.12
Other Current Assets	582	594	676	675	610	592	514	645
Plant, Property, & Equipment, net	11	17	17	17	18	17	17	15
Total Noncurrent Assets	2,902	2,741	2,708	2,660	2,413	2,102	1,993	1,930
Noncurrent Note & Lease Receivables	615	566	552	578	529	499	540	727
Goodwill	68	76	75	75	77	78	78	70
Intangible Assets	9.17	5.39	5.64	6.20	7.35	8.14	8.67	5.09
Noncurrent Deferred & Refundable Income Taxes	67	37	30	26	9.44	3.59	3.05	3.36
Other Noncurrent Operating Assets	2,142	2,057	2,045	1,975	1,790	1,513	1,363	1,125
Total Liabilities & Shareholders' Equity	4,170	3,982	3,965	3,803	3,461	3,041	2,967	3,038
Total Liabilities	3,122	2,973	2,980	2,829	2,515	2,119	2,026	2,175
Total Current Liabilities	798	965	1,232	1,162	882	752	767	860
Short-Term Debt	149	343	524	539	410	333	313	301
Accounts Payable	436	399	497	437	328	290	285	411
Accrued Expenses	112	101	100	110	94	81	115	95
Current Deferred Revenue	91	108	97	61	37	40	39	43
Current Deferred & Payable Income Tax Liabilities	0.12	0.66	0.22	0.40	1.11	1.56	7.95	3.07
Other Current Liabilities	9.59	12	14	14	13	5.94	5.87	6.13
Total Noncurrent Liabilities	2,324	2,008	1,748	1,667	1,632	1,367	1,259	1,315
Long-Term Debt	1,567	1,318	1,079	1,012	1,022	784	632	512
Capital Lease Obligations	58	58	49	51	39	32	32	31
Noncurrent Deferred & Payable Income Tax Liabilities	2.12	2.60	4.37	4.58	4.13	7.97	2.87	11
Other Noncurrent Operating Liabilities	696	630	616	600	567	542	592	762
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	1.97	43	44	44	47	48	47	48
Total Equity & Noncontrolling Interests	1,046	967	941	930	899	874	895	815
Total Preferred & Common Equity	1,012	937	915	905	869	844	829	798
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,012	937	915	905	869	844	829	798
Common Stock	382	336	332	327	322	317	311	299
Retained Earnings	647	616	598	593	562	541	535	516
Treasury Stock	-12	-12	-12	-12	-12	-12	-12	-12
Accumulated Other Comprehensive Income / (Loss)	-4.94	-2.80	-3.80	-3.59	-3.74	-2.88	-4.65	-5.65
Noncontrolling Interest	34	29	26	25	31	30	66	17

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	28.76%	-24.65%	50.07%
EBITDA Growth	19.59%	-34.41%	27.43%
EBIT Growth	-9.21%	-64.92%	33.18%
NOPAT Growth	27.69%	9.74%	25.02%
Net Income Growth	-15.59%	-35.16%	22.89%
EPS Growth	-8.55%	-34.27%	31.85%
Operating Cash Flow Growth	268.02%	79.31%	-96.34%
Free Cash Flow Firm Growth	95.19%	-12.01%	-164.26%
Invested Capital Growth	8.30%	37.93%	51.54%
Revenue Q/Q Growth	5.44%	8.67%	-4.41%
EBITDA Q/Q Growth	9.63%	4.75%	-7.19%
EBIT Q/Q Growth	8.48%	1.95%	-12.25%
NOPAT Q/Q Growth	9.44%	34.42%	-6.17%
Net Income Q/Q Growth	9.81%	29.22%	-10.00%
EPS Q/Q Growth	8.08%	32.95%	-10.10%
Operating Cash Flow Q/Q Growth	68.84%	33.68%	-2.79%
Free Cash Flow Firm Q/Q Growth	81.40%	12.95%	-27.67%
Invested Capital Q/Q Growth	0.76%	5.02%	9.97%
Profitability Metrics	-	-	-
Gross Margin	14.47%	17.93%	15.94%
EBITDA Margin	7.20%	7.76%	8.91%
Operating Margin	6.10%	5.85%	7.20%
EBIT Margin	1.87%	2.66%	5.70%
Profit (Net Income) Margin	3.05%	4.65%	5.40%
Tax Burden Percent	158.93%	166.99%	93.22%
Interest Burden Percent	102.39%	104.82%	101.58%
Effective Tax Rate	-58.93%	-66.99%	6.78%
Return on Invested Capital (ROIC)	6.96%	6.58%	8.60%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.13%	0.15%	4.54%
Return on Net Nonoperating Assets (RNNOA)	-1.62%	0.17%	3.20%
Return on Equity (ROE)	5.34%	6.75%	11.80%
Cash Return on Invested Capital (CROIC)	-1.01%	-25.30%	-32.38%
Operating Return on Assets (OROA)	0.84%	1.11%	4.08%
Return on Assets (ROA)	1.37%	1.94%	3.86%
Return on Common Equity (ROCE)	5.06%	6.16%	10.80%
Return on Equity Simple (ROE_SIMPLE)	5.32%	7.08%	11.96%
Net Operating Profit after Tax (NOPAT)	172	134	122
NOPAT Margin	9.69%	9.77%	6.71%
Net Nonoperating Expense Percent (NNEP)	8.09%	6.44%	4.06%
Return On Investment Capital (ROIC_SIMPLE)	6.27%	5.46%	6.78%
Cost of Revenue to Revenue	85.53%	82.07%	84.06%
SG&A Expenses to Revenue	9.82%	11.80%	8.74%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.37%	12.07%	8.74%
Earnings before Interest and Taxes (EBIT)	33	37	104
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	128	107	163
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.22	1.83	3.60
Price to Tangible Book Value (P/TBV)	1.31	2.02	3.96
Price to Revenue (P/Rev)	0.70	1.20	1.63
Price to Earnings (P/E)	21.70	26.48	31.25
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	4.61%	3.78%	3.20%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.32	2.25
Enterprise Value to Revenue (EV/Rev)	1.57	2.27	2.11
Enterprise Value to EBITDA (EV/EBITDA)	21.80	29.24	23.73
Enterprise Value to EBIT (EV/EBIT)	83.87	85.40	37.07
Enterprise Value to NOPAT (EV/NOPAT)	16.21	23.21	31.51
Enterprise Value to Operating Cash Flow (EV/OCF)	23.64	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	1.62	1.58	1.01
Long-Term Debt to Equity	1.47	1.25	0.65
Financial Leverage	1.44	1.16	0.70
Leverage Ratio	3.90	3.48	3.05
Compound Leverage Factor	3.99	3.65	3.10
Debt to Total Capital	61.77%	61.20%	50.33%
Short-Term Debt to Total Capital	5.45%	12.85%	17.90%
Long-Term Debt to Total Capital	56.32%	48.35%	32.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.25%	2.82%	5.16%
Common Equity to Total Capital	36.97%	35.97%	44.51%
Debt to EBITDA	13.28	14.39	5.73
Net Debt to EBITDA	11.88	13.06	4.89
Long-Term Debt to EBITDA	12.10	11.37	3.69
Debt to NOPAT	9.87	11.42	7.61
Net Debt to NOPAT	8.83	10.37	6.50
Long-Term Debt to NOPAT	9.00	9.02	4.90
Altman Z-Score	1.03	1.06	2.00
Noncontrolling Interest Sharing Ratio	5.21%	8.79%	8.49%
Liquidity Ratios	-	-	-
Current Ratio	1.46	1.25	1.23
Quick Ratio	0.46	0.30	0.40
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-25	-516	-461
Operating Cash Flow to CapEx	26.83%	-12.68%	-103.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.45	0.42	0.72
Accounts Receivable Turnover	8.63	8.40	10.86
Inventory Turnover	120.18	81.01	133.21
Fixed Asset Turnover	124.49	83.05	126.59
Accounts Payable Turnover	3.25	3.00	4.66
Days Sales Outstanding (DSO)	42.31	43.46	33.61
Days Inventory Outstanding (DIO)	3.04	4.51	2.74
Days Payable Outstanding (DPO)	112.37	121.62	78.31
Cash Conversion Cycle (CCC)	-67.02	-73.66	-41.97
Capital & Investment Metrics	-	-	-
Invested Capital	2,562	2,366	1,715
Invested Capital Turnover	0.72	0.67	1.28
Increase / (Decrease) in Invested Capital	196	651	583
Enterprise Value (EV)	2,780	3,118	3,858
Market Capitalization	1,231	1,654	2,966
Book Value per Share	$19.32	$17.27	$15.87
Tangible Book Value per Share	$17.89	$15.69	$14.42
Total Capital	2,740	2,507	1,851
Total Debt	1,693	1,535	932
Total Long-Term Debt	1,543	1,212	600
Net Debt	1,515	1,393	796
Capital Expenditures (CapEx)	438	552	328
Debt-free, Cash-free Net Working Capital (DFCFNWC)	383	408	384
Debt-free Net Working Capital (DFNWC)	561	549	521
Net Working Capital (NWC)	412	227	189
Net Nonoperating Expense (NNE)	118	70	24
Net Nonoperating Obligations (NNO)	1,515	1,393	796
Total Depreciation and Amortization (D&A)	94	70	58
Debt-free, Cash-free Net Working Capital to Revenue	21.65%	29.66%	21.07%
Debt-free Net Working Capital to Revenue	31.72%	39.96%	28.54%
Net Working Capital to Revenue	23.28%	16.51%	10.38%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.08	$1.20	$1.83
Adjusted Weighted Average Basic Shares Outstanding	52.38M	52.14M	51.84M
Adjusted Diluted Earnings per Share	$1.07	$1.17	$1.78
Adjusted Weighted Average Diluted Shares Outstanding	53.14M	53.23M	53.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.54M	52.28M	51.95M
Normalized Net Operating Profit after Tax (NOPAT)	84	59	122
Normalized NOPAT Margin	4.76%	4.29%	6.71%
Pre Tax Income Margin	1.92%	2.78%	5.79%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	3.32%	35.21%	1.14%
Augmented Payout Ratio	3.32%	35.21%	1.14%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.24%	20.69%	49.45%	33.91%	10.10%	33.05%	-24.05%	-43.35%	-42.82%	-20.24%	61.24%
EBITDA Growth	53.74%	36.41%	33.03%	3.38%	-15.43%	22.28%	-37.55%	-50.21%	-53.83%	-30.20%	45.23%
EBIT Growth	28.49%	26.77%	25.43%	-38.30%	-686.15%	16.85%	-65.63%	-77.73%	-94.97%	-51.08%	64.46%
NOPAT Growth	71.30%	32.31%	5.06%	19.01%	-58.36%	123.03%	20.35%	-52.97%	-46.36%	-20.17%	36.94%
Net Income Growth	9.26%	14.56%	-18.37%	-38.26%	-496.79%	77.50%	-24.85%	-74.41%	-91.93%	-37.00%	36.76%
EPS Growth	-66.67%	12.70%	-17.50%	-25.00%	-400.00%	85.29%	-21.57%	-80.33%	-93.75%	-37.04%	54.55%
Operating Cash Flow Growth	-235.97%	162.14%	481.79%	157.56%	-64.58%	54.59%	-118.95%	-191.99%	121.28%	-16.38%	274.58%
Free Cash Flow Firm Growth	68.36%	80.07%	62.14%	0.95%	-194.22%	-6.20%	-42.56%	13.07%	50.88%	-132.94%	-96.68%
Invested Capital Growth	9.68%	8.30%	12.88%	21.90%	42.02%	37.93%	44.43%	28.09%	17.58%	51.54%	46.01%
Revenue Q/Q Growth	-33.76%	6.35%	14.36%	46.77%	-32.39%	31.69%	2.47%	20.67%	-18.29%	-24.83%	-23.57%
EBITDA Q/Q Growth	-56.79%	26.30%	42.80%	97.25%	-63.46%	23.17%	10.98%	61.35%	-47.53%	-37.09%	-11.52%
EBIT Q/Q Growth	-121.45%	52.25%	160.51%	184.07%	-134.31%	50.64%	28.15%	698.67%	-93.22%	-55.70%	-16.96%
NOPAT Q/Q Growth	-87.80%	80.62%	107.60%	274.49%	-91.06%	43.43%	135.16%	31.01%	-53.15%	-22.61%	-8.11%
Net Income Q/Q Growth	-114.79%	122.82%	227.57%	184.07%	-118.67%	58.78%	147.74%	440.33%	-91.65%	-32.78%	-15.63%
EPS Q/Q Growth	-114.08%	115.15%	266.67%	250.00%	-109.52%	57.50%	233.33%	500.00%	-94.12%	-33.33%	-16.39%
Operating Cash Flow Q/Q Growth	-254.03%	-26.76%	-52.94%	156.11%	170.40%	-349.94%	92.90%	-257.59%	190.25%	-287.80%	209.31%
Free Cash Flow Firm Q/Q Growth	-92.35%	52.25%	40.33%	42.28%	-21.83%	9.27%	-56.10%	-71.45%	56.10%	-21.79%	4.81%
Invested Capital Q/Q Growth	4.46%	0.76%	5.17%	-0.91%	3.14%	5.02%	13.57%	15.45%	0.18%	9.97%	0.72%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.72%	12.54%	15.40%	14.88%	15.75%	16.81%	18.99%	17.93%	18.43%	18.57%	18.03%
EBITDA Margin	5.94%	9.11%	7.67%	6.14%	4.57%	8.06%	8.62%	7.96%	5.95%	8.77%	10.48%
Operating Margin	3.88%	8.26%	6.99%	4.78%	2.68%	7.32%	6.39%	5.39%	3.36%	6.42%	8.82%
EBIT Margin	-1.25%	3.87%	2.70%	1.19%	-2.07%	3.68%	3.22%	2.57%	0.39%	4.19%	7.11%
Profit (Net Income) Margin	-1.59%	7.12%	3.40%	1.19%	-2.07%	7.50%	6.22%	2.57%	0.57%	5.62%	6.28%
Tax Burden Percent	126.89%	178.53%	124.28%	100.00%	100.00%	183.75%	193.20%	99.94%	147.72%	124.98%	88.35%
Interest Burden Percent	100.00%	103.07%	101.18%	100.00%	100.00%	110.82%	100.00%	100.00%	100.00%	107.26%	100.00%
Effective Tax Rate	0.00%	-78.53%	-24.28%	0.00%	0.00%	-83.75%	-93.20%	0.06%	-47.72%	-24.98%	11.65%
Return on Invested Capital (ROIC)	1.94%	10.60%	6.08%	3.29%	1.26%	9.06%	8.20%	4.18%	5.06%	10.29%	11.32%
ROIC Less NNEP Spread (ROIC-NNEP)	0.96%	7.80%	4.21%	2.03%	0.21%	6.66%	6.15%	3.15%	3.42%	8.93%	10.06%
Return on Net Nonoperating Assets (RNNOA)	1.46%	11.22%	6.12%	2.65%	0.25%	7.70%	6.81%	3.20%	2.89%	6.29%	6.71%
Return on Equity (ROE)	3.40%	21.82%	12.20%	5.94%	1.52%	16.77%	15.00%	7.38%	7.94%	16.58%	18.03%
Cash Return on Invested Capital (CROIC)	-2.45%	-1.01%	-5.57%	-12.43%	-27.66%	-25.30%	-31.11%	-19.56%	-9.35%	-32.38%	-27.47%
Operating Return on Assets (OROA)	-0.57%	1.74%	1.22%	0.51%	-0.86%	1.54%	1.25%	1.19%	0.23%	3.00%	5.42%
Return on Assets (ROA)	-0.73%	3.20%	1.53%	0.51%	-0.86%	3.13%	2.42%	1.19%	0.34%	4.02%	4.79%
Return on Common Equity (ROCE)	3.22%	20.68%	11.26%	5.48%	1.37%	15.29%	13.82%	6.78%	7.18%	15.17%	16.77%
Return on Equity Simple (ROE_SIMPLE)	5.39%	0.00%	5.24%	5.79%	6.21%	0.00%	5.69%	6.68%	9.75%	0.00%	13.73%
Net Operating Profit after Tax (NOPAT)	9.58	79	43	21	5.60	59	41	18	13	27	34
NOPAT Margin	2.72%	14.75%	8.68%	4.78%	1.88%	13.45%	12.35%	5.38%	4.96%	8.03%	7.80%
Net Nonoperating Expense Percent (NNEP)	0.98%	2.80%	1.87%	1.26%	1.05%	2.40%	2.05%	1.03%	1.63%	1.36%	1.27%
Return On Investment Capital (ROIC_SIMPLE)	0.34%	2.87%	-	-	-	2.41%	-	-	-	1.48%	-
Cost of Revenue to Revenue	85.28%	87.46%	84.60%	85.12%	84.25%	83.19%	81.01%	82.07%	81.57%	81.43%	81.97%
SG&A Expenses to Revenue	10.91%	8.98%	8.41%	10.10%	13.26%	8.31%	12.76%	12.66%	15.24%	11.89%	9.31%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.91%	4.17%	8.41%	10.10%	13.26%	9.18%	12.76%	12.66%	15.24%	11.89%	9.31%
Earnings before Interest and Taxes (EBIT)	-4.42	21	14	5.19	-6.18	16	11	8.42	1.05	14	31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	21	49	38	27	14	36	29	26	16	29	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.63	1.22	2.12	1.65	1.39	1.83	2.32	3.00	3.08	3.60	4.32
Price to Tangible Book Value (P/TBV)	0.68	1.31	2.32	1.81	1.53	2.02	2.57	3.35	3.44	3.96	4.77
Price to Revenue (P/Rev)	0.35	0.70	1.18	1.00	0.90	1.20	1.59	1.85	1.58	1.63	1.81
Price to Earnings (P/E)	11.71	21.70	37.23	26.42	21.59	26.48	43.13	48.01	32.51	31.25	32.76
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.54%	4.61%	2.69%	3.79%	4.63%	3.78%	2.32%	2.08%	3.08%	3.20%	3.05%
Enterprise Value to Invested Capital (EV/IC)	0.86	1.09	1.41	1.25	1.15	1.32	1.51	1.85	2.01	2.25	2.70
Enterprise Value to Revenue (EV/Rev)	1.26	1.57	2.14	1.99	1.99	2.27	2.69	2.68	2.13	2.11	2.20
Enterprise Value to EBITDA (EV/EBITDA)	17.05	21.80	30.90	28.20	26.41	29.24	33.37	30.84	23.70	23.73	24.02
Enterprise Value to EBIT (EV/EBIT)	65.86	83.87	117.61	108.26	90.11	85.40	94.85	65.13	40.16	37.07	35.48
Enterprise Value to NOPAT (EV/NOPAT)	13.25	16.21	22.92	18.73	19.05	23.21	33.99	41.06	31.85	31.51	32.25
Enterprise Value to Operating Cash Flow (EV/OCF)	33.57	23.64	51.60	79.26	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.69	1.62	1.70	1.68	1.64	1.58	1.55	1.25	1.04	1.01	0.98
Long-Term Debt to Equity	1.55	1.47	1.36	1.14	1.09	1.25	1.12	0.89	0.70	0.65	0.63
Financial Leverage	1.53	1.44	1.45	1.31	1.17	1.16	1.11	1.02	0.84	0.70	0.67
Leverage Ratio	3.94	3.90	3.81	3.67	3.53	3.48	3.59	3.38	3.19	3.05	3.18
Compound Leverage Factor	3.94	4.02	3.85	3.67	3.53	3.86	3.59	3.38	3.19	3.28	3.18
Debt to Total Capital	62.87%	61.77%	63.00%	62.64%	62.18%	61.20%	60.85%	55.50%	50.92%	50.33%	49.45%
Short-Term Debt to Total Capital	5.29%	5.45%	12.58%	19.87%	20.94%	12.85%	16.96%	16.07%	16.34%	17.90%	17.65%
Long-Term Debt to Total Capital	57.58%	56.32%	50.42%	42.77%	41.24%	48.35%	43.89%	39.42%	34.58%	32.42%	31.80%
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%	0.00%
Noncontrolling Interests to Total Capital	1.28%	1.25%	2.64%	2.67%	2.68%	2.82%	3.22%	3.79%	5.87%	5.16%	3.80%
Common Equity to Total Capital	35.85%	36.97%	34.36%	34.70%	35.14%	35.97%	35.93%	40.72%	43.21%	44.51%	46.74%
Debt to EBITDA	13.16	13.28	14.78	15.47	15.12	14.39	14.45	9.65	6.72	5.73	4.82
Net Debt to EBITDA	12.08	11.88	13.18	13.42	13.84	13.06	12.83	8.91	5.34	4.89	3.98
Long-Term Debt to EBITDA	12.05	12.10	11.83	10.56	10.03	11.37	10.42	6.85	4.56	3.69	3.10
Debt to NOPAT	10.23	9.87	10.96	10.27	10.91	11.42	14.72	12.85	9.03	7.61	6.47
Net Debt to NOPAT	9.38	8.83	9.78	8.91	9.99	10.37	13.07	11.86	7.18	6.50	5.34
Long-Term Debt to NOPAT	9.37	9.00	8.77	7.01	7.24	9.02	10.62	9.13	6.13	4.90	4.16
Altman Z-Score	0.91	1.02	1.13	0.90	0.84	1.04	1.13	1.49	1.63	1.90	1.94
Noncontrolling Interest Sharing Ratio	5.20%	5.21%	7.67%	7.80%	9.48%	8.79%	7.89%	8.08%	9.64%	8.49%	6.97%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.46	1.27	1.01	0.97	1.25	1.17	1.23	1.25	1.23	1.27
Quick Ratio	0.43	0.46	0.40	0.28	0.22	0.30	0.31	0.28	0.45	0.40	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-227	-118	-247	-413	-716	-591	-652	-417	-243	-557	-457
Operating Cash Flow to CapEx	-24.78%	23.00%	21.18%	41.64%	18.59%	-31.59%	-3.49%	-52.04%	63.86%	-51.81%	49.59%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.45	0.45	0.43	0.41	0.42	0.39	0.46	0.59	0.72	0.76
Accounts Receivable Turnover	9.77	8.63	9.24	10.88	10.09	8.40	7.17	8.28	9.68	10.86	11.47
Inventory Turnover	122.98	120.18	110.47	94.92	86.83	81.01	77.12	89.66	115.66	133.21	150.12
Fixed Asset Turnover	129.36	124.49	97.80	89.30	82.39	83.05	78.27	88.78	108.36	126.59	162.68
Accounts Payable Turnover	3.58	3.25	3.89	3.21	3.21	3.00	2.79	3.10	5.22	4.66	5.29
Days Sales Outstanding (DSO)	37.36	42.31	39.51	33.54	36.16	43.46	50.91	44.10	37.71	33.61	31.81
Days Inventory Outstanding (DIO)	2.97	3.04	3.30	3.85	4.20	4.51	4.73	4.07	3.16	2.74	2.43
Days Payable Outstanding (DPO)	101.90	112.37	93.81	113.77	113.85	121.62	130.89	117.66	69.94	78.31	68.99
Cash Conversion Cycle (CCC)	-61.57	-67.02	-51.00	-76.39	-73.48	-73.66	-75.24	-69.49	-29.08	-41.97	-34.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,676	2,562	2,543	2,418	2,440	2,366	2,253	1,984	1,718	1,715	1,560
Invested Capital Turnover	0.71	0.72	0.70	0.69	0.67	0.67	0.66	0.78	1.02	1.28	1.45
Increase / (Decrease) in Invested Capital	236	196	290	434	722	651	693	435	257	583	491
Enterprise Value (EV)	2,299	2,780	3,594	3,011	2,797	3,118	3,397	3,675	3,446	3,858	4,208
Market Capitalization	635	1,231	1,988	1,508	1,262	1,654	2,013	2,535	2,557	2,966	3,446
Book Value per Share	$19.26	$19.32	$17.89	$17.48	$17.31	$17.27	$16.64	$16.18	$15.96	$15.87	$15.39
Tangible Book Value per Share	$17.78	$17.89	$16.34	$15.93	$15.75	$15.69	$15.02	$14.53	$14.29	$14.42	$13.94
Total Capital	2,823	2,740	2,728	2,636	2,576	2,507	2,417	2,072	1,918	1,851	1,707
Total Debt	1,775	1,693	1,719	1,651	1,601	1,535	1,471	1,150	977	932	844
Total Long-Term Debt	1,625	1,543	1,376	1,128	1,062	1,212	1,061	817	663	600	543
Net Debt	1,628	1,515	1,533	1,433	1,466	1,393	1,306	1,062	777	796	697
Capital Expenditures (CapEx)	114	80	118	128	112	94	188	178	92	126	70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	462	383	418	313	368	408	393	414	304	384	387
Debt-free Net Working Capital (DFNWC)	608	561	603	531	503	549	558	503	504	521	534
Net Working Capital (NWC)	459	412	260	7.57	-36	227	148	170	191	189	233
Net Nonoperating Expense (NNE)	15	41	26	16	12	26	21	9.19	12	7.98	6.67
Net Nonoperating Obligations (NNO)	1,628	1,515	1,533	1,433	1,466	1,393	1,306	1,062	777	796	697
Total Depreciation and Amortization (D&A)	25	28	25	22	20	19	18	18	15	15	15
Debt-free, Cash-free Net Working Capital to Revenue	25.32%	21.65%	24.89%	20.69%	26.25%	29.66%	31.07%	30.23%	18.76%	21.07%	20.28%
Debt-free Net Working Capital to Revenue	33.33%	31.72%	35.93%	35.12%	35.91%	39.96%	44.09%	36.66%	31.10%	28.54%	27.98%
Net Working Capital to Revenue	25.15%	23.28%	15.48%	0.50%	-2.55%	16.51%	11.68%	12.37%	11.77%	10.38%	12.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.10)	$0.70	$0.34	$0.10	($0.06)	$0.65	$0.41	$0.12	$0.02	$0.34	$0.53
Adjusted Weighted Average Basic Shares Outstanding	52.54M	52.38M	52.41M	52.36M	52.29M	52.14M	52.21M	52.13M	51.96M	51.84M	51.87M
Adjusted Diluted Earnings per Share	($0.10)	$0.71	$0.33	$0.09	($0.06)	$0.63	$0.40	$0.12	$0.02	$0.34	$0.51
Adjusted Weighted Average Diluted Shares Outstanding	52.54M	53.14M	53.24M	53.11M	52.29M	53.23M	53.30M	53.21M	53.26M	53.28M	53.30M
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	52.60M	52.54M	52.44M	52.40M	52.34M	52.28M	52.23M	52.20M	52.12M	51.95M	51.91M
Normalized Net Operating Profit after Tax (NOPAT)	9.58	31	25	15	5.60	23	15	18	6.37	15	34
Normalized NOPAT Margin	2.72%	5.78%	4.89%	3.35%	1.88%	5.13%	4.48%	5.38%	2.35%	4.50%	7.80%
Pre Tax Income Margin	-1.25%	3.99%	2.73%	1.19%	-2.07%	4.08%	3.22%	2.57%	0.39%	4.50%	7.11%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	4.77%	3.32%	6.66%	5.49%	40.12%	35.21%	43.19%	38.02%	1.15%	1.14%	0.72%
Augmented Payout Ratio	4.77%	3.32%	6.66%	5.49%	40.12%	35.21%	43.19%	38.02%	1.15%	1.14%	0.72%

Frequently Asked Questions About Ameresco's Financials

When does Ameresco's financial year end?

According to the most recent income statement we have on file, Ameresco's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ameresco's net income changed over the last 2 years?

Ameresco's net income appears to be on a downward trend, with a most recent value of $53.94 million in 2024, falling from $98.55 million in 2022. The previous period was $63.90 million in 2023. Find out what analysts predict for Ameresco in the coming months.

What is Ameresco's operating income?

Ameresco's total operating income in 2024 was $107.95 million, based on the following breakdown:

Total Gross Profit: $256.09 million
Total Operating Expenses: $148.14 million

How has Ameresco revenue changed over the last 2 years?

Over the last 2 years, Ameresco's total revenue changed from $1.82 billion in 2022 to $1.77 billion in 2024, a change of -3.0%.

How much debt does Ameresco have?

Ameresco's total liabilities were at $3.11 billion at the end of 2024, a 13.5% increase from 2023, and a 58.9% increase since 2022.

How much cash does Ameresco have?

In the past 2 years, Ameresco's cash and equivalents has ranged from $79.27 million in 2023 to $115.53 million in 2022, and is currently $108.52 million as of their latest financial filing in 2024.

How has Ameresco's book value per share changed over the last 2 years?

Over the last 2 years, Ameresco's book value per share changed from 15.87 in 2022 to 19.32 in 2024, a change of 21.7%.

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This page (NYSE:AMRC) was last updated on 5/30/2025 by MarketBeat.com Staff

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