Ameresco (AMRC) Financials

$13.08 +1.45 (+12.48%)

Closing price 05/6/2025 03:59 PM Eastern

Extended Trading

$12.47 -0.61 (-4.67%)

As of 08:00 AM 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	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	95	62	57
Consolidated Net Income / (Loss)	99	64	54
Net Income / (Loss) Continuing Operations	99	64	54
Total Pre-Tax Income	106	38	34
Total Operating Income	131	80	108
Total Gross Profit	291	246	256
Total Revenue	1,824	1,375	1,770
Operating Revenue	1,824	1,375	1,770
Total Cost of Revenue	1,534	1,128	1,514
Operating Cost of Revenue	1,534	1,128	1,514
Total Operating Expenses	159	166	148
Selling, General & Admin Expense	159	162	174
Other Operating Expenses / (Income)	0.00	0.00	-38
Impairment Charge	0.00	3.83	12
Total Other Income / (Expense), net	-26	-42	-74
Interest & Investment Income	1.65	1.76	0.79
Other Income / (Expense), net	-27	-44	-75
Income Tax Expense	7.17	-26	-20
Net Income / (Loss) Attributable to Noncontrolling Interest	3.62	1.43	-2.82
Basic Earnings per Share	$1.83	$1.20	$1.08
Weighted Average Basic Shares Outstanding	51.84M	52.14M	52.38M
Diluted Earnings per Share	$1.78	$1.17	$1.07
Weighted Average Diluted Shares Outstanding	53.28M	53.23M	53.14M
Weighted Average Basic & Diluted Shares Outstanding	51.95M	52.28M	52.54M

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

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

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	52	-14	64	-112	74	-22	-5.71	85	-29	-6.01
Net Cash From Operating Activities	35	-65	59	-93	-6.57	-30	21	53	25	18
Net Cash From Continuing Operating Activities	35	-65	59	-93	-6.57	-30	21	53	25	18
Net Income / (Loss) Continuing Operations	28	19	1.56	8.41	21	33	-6.18	5.19	17	38
Consolidated Net Income / (Loss)	28	19	1.56	8.41	21	33	-6.18	5.19	17	38
Depreciation Expense	14	13	14	15	16	18	18	20	23	26
Amortization Expense	1.28	1.74	1.09	2.26	1.73	1.48	1.52	1.88	1.98	1.91
Non-Cash Adjustments To Reconcile Net Income	-24	-32	66	-119	-62	-150	-23	-47	121	-171
Changes in Operating Assets and Liabilities, net	16	-67	-24	0.61	16	68	30	73	-138	124
Net Cash From Investing Activities	-70	-126	-101	-178	-186	-102	-104	-129	-122	-31
Net Cash From Continuing Investing Activities	-70	-126	-101	-178	-186	-102	-104	-129	-122	-31
Purchase of Property, Plant & Equipment	-70	-126	-92	-178	-188	-94	-112	-128	-118	-80
Acquisitions	-0.46	-0.00	-9.22	-0.00	2.19	-2.72	-4.78	-1.42	-4.25	10
Divestitures	-	-	0.00	-	-	-	13	-	0.14	54
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	-4.28
Net Cash From Financing Activities	89	176	106	159	267	108	77	161	67	8.89
Net Cash From Continuing Financing Activities	89	176	106	159	267	108	77	161	67	8.89
Repayment of Debt	129	121	-16	-131	-152	787	-65	-212	-250	537
Payment of Dividends	-0.22	-0.34	-0.16	-21	-0.16	-1.49	-0.20	-1.07	-0.52	-0.01
Issuance of Debt	-97	-36	58	286	385	-729	89	270	304	-564
Issuance of Common Equity	1.85	21	17	-13	0.27	4.31	29	3.24	3.40	2.48
Other Financing Activities, net	55	70	47	38	35	47	24	101	9.21	33
Effect of Exchange Rate Changes	-0.57	1.11	0.04	-0.10	-0.92	0.90	-0.13	0.20	1.76	-2.03
Cash Interest Paid	9.99	9.30	13	19	19	29	27	26	28	30
Cash Income Taxes Paid	0.90	3.55	0.32	2.18	0.22	1.12	0.06	0.77	1.12	2.51

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

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

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

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

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

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

Frequently Asked Questions About Ameresco's Financials

When does Ameresco's fiscal year end?

According to the most recent income statement we have on file, Ameresco's financial year ends in December. Their financial 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. View Ameresco's forecast to see where analysts expect Ameresco to go next.

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%.

Related Companies

This page (NYSE:AMRC) was last updated on 5/7/2025 by MarketBeat.com Staff

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Ameresco (AMRC) Financials

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