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Ameresco (AMRC) Financials

Ameresco logo
$27.77 +0.16 (+0.59%)
Closing price 08/13/2026 03:59 PM Eastern
Extended Trading
$27.40 -0.37 (-1.34%)
As of 03:59 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Ameresco

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Net Income / (Loss) Attributable to Common Shareholders		 10 0.84 12 37 38 44 54 70 95 62 57
Consolidated Net Income / (Loss)		 10 -4.68 12 34 38 40 57 80 99 64 54
Net Income / (Loss) Continuing Operations		 10 -4.68 12 34 38 40 57 80 99 64 54
Total Pre-Tax Income 		6.29 0.29 16 29 42 37 56 78 106 38 34
Total Operating Income		 13 7.06 24 37 59 52 71 95 131 80 108
Total Gross Profit		 117 117 134 144 174 168 188 230 291 246 256
Total Revenue		 593 631 651 717 787 867 1,032 1,216 1,824 1,375 1,770
Operating Revenue		 593 631 651 717 787 867 1,032 1,216 1,824 1,375 1,770
Total Cost of Revenue		 476 514 517 573 614 699 845 985 1,534 1,128 1,514
Operating Cost of Revenue		 476 514 517 573 614 699 845 985 1,534 1,128 1,514
Total Operating Expenses		 104 110 111 108 115 117 116 135 159 166 148
Selling, General & Admin Expense		 104 110 111 108 115 117 116 133 159 162 174
Other Operating Expenses / (Income)		 - - - - - - - - 0.00 0.00 -38
Impairment Charge		 - - - - - - - 1.90 0.00 3.83 12
Total Other Income / (Expense), net		 -6.86 -6.77 -7.41 -7.87 -17 -15 -15 -17 -26 -42 -74
Interest & Investment Income		 - - - - - - - -0.12 1.65 1.76 0.79
Other Income / (Expense), net		 -6.86 -6.77 -7.41 -7.87 -17 -15 -15 -17 -27 -44 -75
Income Tax Expense		 -4.09 4.98 4.37 -4.79 4.81 -3.75 -0.49 -2.05 7.17 -26 -20
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -5.53 -0.04 -3.98 -0.41 -4.14 2.87 9.73 3.62 1.43 -2.82
Basic Earnings per Share		 $0.22 $0.02 $0.26 $0.82 $0.83 $0.95 $1.13 $1.38 $1.83 $1.20 $1.08
Weighted Average Basic Shares Outstanding		 46.16M 46.49M 46.41M 45.51M 45.73M 46.59M 47.70M 50.86M 51.84M 52.14M 52.38M
Diluted Earnings per Share		 $0.22 $0.02 $0.26 $0.82 $0.81 $0.93 $1.10 $1.35 $1.78 $1.17 $1.07
Weighted Average Diluted Shares Outstanding		 47.03M 47.67M 46.49M 45.75M 46.83M 47.77M 49.01M 52.27M 53.28M 53.23M 53.14M
Weighted Average Basic & Diluted Shares Outstanding		 47.20M 14.10M 46.30M 45.70M -3.80B 47.38M 48.25M 51.72M 51.95M 52.28M 52.54M

Quarterly Income Statements for Ameresco

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 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 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 21 34 -2.94 5.01 18 37 -5.48 13 19 -18 9.72
Consolidated Net Income / (Loss)		 21 33 -6.18 5.19 17 38 -5.61 16 22 -14 20
Net Income / (Loss) Continuing Operations		 21 33 -6.18 5.19 17 38 -5.61 16 22 -14 20
Total Pre-Tax Income 		11 18 -6.18 5.19 14 21 -4.42 13 18 -18 20
Total Operating Income		 21 32 7.99 21 35 44 14 28 42 10 44
Total Gross Profit		 64 74 47 65 77 67 52 73 84 56 91
Total Revenue		 335 441 298 438 501 533 353 472 526 401 515
Operating Revenue		 335 441 298 438 501 533 353 472 526 401 515
Total Cost of Revenue		 271 367 251 373 424 466 301 399 442 345 424
Operating Cost of Revenue		 271 367 251 373 424 466 301 399 442 345 424
Total Operating Expenses		 43 41 40 44 42 22 38 46 43 46 48
Selling, General & Admin Expense		 43 37 40 44 42 48 38 46 43 46 48
Total Other Income / (Expense), net		 -10 -16 -14 -16 -21 -23 -18 -15 -23 -28 -24
Interest & Investment Income		 0.53 0.40 0.56 0.01 0.16 0.07 -20 -21 1.39 -25 -26
Other Income / (Expense), net		 -11 -16 -14 -16 -3.05 -23 1.80 6.13 -3.70 -2.63 2.29
Income Tax Expense		 -10 -15 0.00 0.00 -3.32 -17 1.19 -2.90 -3.68 -3.18 0.14
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.42 -0.64 -3.24 0.18 -0.59 0.83 -0.12 2.65 3.31 3.90 10
Basic Earnings per Share		 $0.41 $0.65 ($0.06) $0.10 $0.34 $0.70 ($0.10) $0.24 $0.35 ($0.35) $0.18
Weighted Average Basic Shares Outstanding		 52.21M 52.14M 52.29M 52.36M 52.41M 52.38M 52.54M 52.64M 52.72M 52.89M 52.99M
Diluted Earnings per Share		 $0.40 $0.63 ($0.06) $0.09 $0.33 $0.71 ($0.10) $0.24 $0.35 ($0.35) $0.18
Weighted Average Diluted Shares Outstanding		 53.30M 53.23M 52.29M 53.11M 53.24M 53.14M 52.54M 52.82M 53.37M 52.89M 53.84M
Weighted Average Basic & Diluted Shares Outstanding		 52.23M 52.28M 52.34M 52.40M 52.44M 52.54M 52.60M 52.70M 52.80M 52.95M 53.07M

Annual Cash Flow Statements for Ameresco

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Net Change in Cash & Equivalents		 6.59 -2.12 1.47 7.28 38 -21 22 -12 63 3.79 45
Net Cash From Operating Activities		 1.31 -50 -53 -136 -53 -196 -103 -172 -338 -70 118
Net Cash From Continuing Operating Activities		 1.31 -50 -53 -136 -53 -196 -103 -172 -338 -70 118
Net Income / (Loss) Continuing Operations		 10 -4.68 12 34 38 40 57 80 99 64 54
Consolidated Net Income / (Loss)		 10 -4.68 12 34 38 40 57 80 99 64 54
Depreciation Expense		 18 20 22 24 29 39 41 46 52 64 87
Amortization Expense		 6.09 5.29 3.86 3.07 3.25 3.14 3.37 3.17 6.07 6.57 7.29
Non-Cash Adjustments To Reconcile Net Income		 -54 -70 -113 -163 -149 -288 -211 -364 -519 -265 -119
Changes in Operating Assets and Liabilities, net		 21 -0.48 22 -33 26 9.83 6.61 62 24 61 89
Net Cash From Investing Activities		 -39 -52 -80 -88 -133 -142 -181 -205 -328 -567 -387
Net Cash From Continuing Investing Activities		 -39 -52 -80 -88 -133 -142 -181 -205 -328 -567 -387
Purchase of Property, Plant & Equipment		 -28 -53 -76 -88 -130 -141 -183 -184 -328 -552 -438
Acquisitions		 -14 0.00 -3.58 -2.41 -3.59 -1.60 -0.13 -15 -0.46 -9.75 0.00
Purchase of Investments		 - - - - - - - -9.00 0.00 -5.43 -12
Divestitures		 - - - - - 0.00 0.00 1.67 0.00 0.00 67
Other Investing Activities, net		 3.73 - - - 0.00 0.78 1.87 0.77 0.00 0.00 -3.87
Net Cash From Financing Activities		 43 101 134 230 225 317 305 365 730 641 314
Net Cash From Continuing Financing Activities		 43 101 134 230 225 317 305 365 730 641 314
Repayment of Debt		 -19 -15 -16 -44 -41 43 -76 -109 146 488 9.96
Payment of Dividends		 -0.01 -0.12 - - - - 0.00 0.00 -1.13 -23 -1.79
Issuance of Debt		 8.02 18 42 48 88 44 116 186 295 0.00 100
Issuance of Common Equity		 0.00 6.02 6.39 7.47 12 29 15 128 39 8.19 38
Other Financing Activities, net		 54 92 108 222 168 202 250 160 252 167 168
Effect of Exchange Rate Changes		 1.11 -1.46 -0.42 0.65 -0.30 0.45 0.00 0.31 -0.75 -0.08 -0.20
Cash Interest Paid		 6.58 5.54 7.22 12 16 17 20 19 33 80 110
Cash Income Taxes Paid		 3.13 1.44 3.48 5.78 2.26 3.90 1.47 2.67 7.28 3.83 4.46

Quarterly Cash Flow Statements for Ameresco

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 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 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 74 -22 -5.71 85 -29 -6.01 -32 25 24 66 -1.85
Net Cash From Operating Activities		 -6.57 -30 21 53 25 18 -28 -27 18 35 -107
Net Cash From Continuing Operating Activities		 -6.57 -30 21 53 25 18 -28 -27 18 35 -107
Net Income / (Loss) Continuing Operations		 21 33 -6.18 5.19 17 38 -5.61 16 22 -14 20
Consolidated Net Income / (Loss)		 21 33 -6.18 5.19 17 38 -5.61 16 22 -14 20
Depreciation Expense		 16 18 18 20 23 26 23 25 27 29 30
Amortization Expense		 1.73 1.48 1.52 1.88 1.98 1.91 1.98 1.99 2.21 2.56 2.27
Non-Cash Adjustments To Reconcile Net Income		 -62 -150 -32 -47 121 -171 20 -48 -105 8.81 -123
Changes in Operating Assets and Liabilities, net		 16 68 39 73 -138 124 -68 -21 72 9.71 -36
Net Cash From Investing Activities		 -186 -102 -104 -129 -122 -31 -118 -58 -82 -97 -113
Net Cash From Continuing Investing Activities		 -186 -102 -104 -129 -122 -31 -118 -58 -82 -97 -113
Purchase of Property, Plant & Equipment		 -188 -94 -112 -128 -118 -80 -114 -105 -81 -97 -134
Acquisitions		 2.19 -2.72 -4.78 -1.42 -4.25 10 -4.13 -24 -0.81 0.00 -0.17
Net Cash From Financing Activities		 267 108 77 161 67 8.89 115 107 89 129 219
Net Cash From Continuing Financing Activities		 267 108 77 161 67 8.89 115 107 89 129 219
Repayment of Debt		 -152 787 24 -212 -250 537 -21 103 44 58 -30
Payment of Dividends		 -0.16 -1.49 -0.20 -1.07 -0.52 -0.01 -1.00 -1.85 -2.49 -1.21 -1.08
Issuance of Common Equity		 0.27 4.31 29 3.24 3.40 2.48 3.29 1.80 1.08 0.46 229
Other Financing Activities, net		 35 47 24 101 9.21 33 33 4.69 46 26 21
Effect of Exchange Rate Changes		 -0.92 0.90 -0.13 0.20 1.76 -2.03 0.52 2.39 -0.92 -1.02 -0.03
Cash Interest Paid		 19 29 27 26 28 30 22 28 29 32 32
Cash Income Taxes Paid		 0.22 1.12 0.06 0.77 1.12 2.51 1.17 2.61 0.38 2.23 2.91

Annual Balance Sheets for Ameresco

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 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		 723 797 984 1,162 1,374 1,754 2,225 2,877 3,714 4,159 4,537
Total Current Assets		 264 226 287 311 425 491 639 1,001 1,128 1,301 1,553
Cash & Equivalents		 22 21 24 61 33 66 50 116 79 109 72
Restricted Cash		 16 12 16 17 20 22 24 21 62 70 93
Note & Lease Receivable		 - - - - 17 30 43 38 34 40 54
Accounts Receivable		 73 85 85 86 96 125 162 174 153 257 258
Inventories, net		 13 12 8.14 7.77 9.24 8.58 8.81 14 14 12 13
Prepaid Expenses		 12 12 14 12 29 27 25 39 123 146 240
Current Deferred & Refundable Income Taxes		 2.15 0.41 6.05 5.30 5.03 9.80 5.26 7.75 5.78 1.69 2.17
Other Current Assets		 125 84 134 122 215 202 319 592 657 667 822
Plant, Property, & Equipment, net		 5.33 5.02 5.30 0.00 10 8.98 13 16 17 11 2,091
Total Noncurrent Assets		 454 566 692 844 939 1,254 1,573 1,860 2,568 2,846 893
Noncurrent Note & Lease Receivables		 126 158 249 294 231 397 558 510 609 609 503
Goodwill		 59 58 56 58 58 59 71 71 76 66 69
Intangible Assets		 6.77 3.93 2.44 2.00 1.61 0.93 6.96 4.69 6.81 8.81 7.46
Noncurrent Deferred & Refundable Income Taxes		 - - - - - 3.86 3.70 3.05 26 57 97
Other Noncurrent Operating Assets		 263 346 384 489 648 794 934 1,272 1,850 2,106 216
Total Liabilities & Shareholders' Equity		 723 797 984 1,162 1,374 1,754 2,225 2,877 3,714 4,159 4,537
Total Liabilities		 436 496 637 770 914 1,222 1,474 1,957 2,741 3,111 3,413
Total Current Liabilities		 180 191 202 223 337 383 474 812 901 889 1,029
Short-Term Debt		 13 19 22 27 70 69 79 331 322 149 132
Accounts Payable		 115 127 136 134 202 231 309 349 403 529 691
Accrued Expenses		 22 23 23 36 31 42 43 89 109 107 114
Current Deferred Revenue		 29 21 20 24 27 34 36 35 53 92 80
Current Deferred & Payable Income Tax Liabilities		 0.81 0.78 0.76 1.10 0.49 0.98 0.82 1.67 1.17 0.74 3.85
Other Current Liabilities		 - - - 0.00 5.80 6.11 6.28 5.83 14 11 7.96
Total Noncurrent Liabilities		 256 306 435 547 577 839 1,000 1,145 1,840 2,222 2,384
Long-Term Debt		 100 141 173 219 266 312 377 569 1,170 1,484 1,750
Capital Lease Obligations		 - - - 0.00 29 35 - 32 42 59 56
Noncurrent Deferred & Payable Income Tax Liabilities		 6.14 9.04 0.58 4.35 0.12 6.23 3.87 9.18 4.48 2.22 2.94
Other Noncurrent Operating Liabilities		 141 148 254 317 281 486 619 536 623 676 575
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.49 6.85 10 15 32 39 46 47 47 2.46 1.42
Total Equity & Noncontrolling Interests		 287 294 337 377 429 493 704 873 926 1,045 1,123
Total Preferred & Common Equity		 287 294 337 377 429 493 704 824 902 1,013 1,080
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		 287 294 337 377 429 493 704 824 902 1,013 1,080
Common Stock		 110 113 116 125 134 146 284 306 321 378 396
Retained Earnings		 182 194 236 270 314 368 439 534 596 653 697
Treasury Stock		 0.00 -6.39 -9.80 -12 -12 -12 -12 -12 -12 -12 -12
Accumulated Other Comprehensive Income / (Loss)		 -5.23 -6.59 -5.63 -5.95 -7.51 -9.29 -6.67 -4.05 -3.05 -5.87 -0.46
Noncontrolling Interest		 - - - - - - 0.00 49 24 32 43

Quarterly Balance Sheets for Ameresco

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 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		 2,967 3,041 3,461 3,803 3,965 3,982 4,170 4,295 4,426 4,641 4,832
Total Current Assets		 958 922 1,030 1,126 1,240 1,225 1,257 1,280 1,420 1,554 1,680
Cash & Equivalents		 179 49 108 78 150 114 72 82 95 104 138
Restricted Cash		 21 39 57 58 68 72 75 89 99 91 87
Note & Lease Receivable		 36 38 33 32 39 43 45 48 49 49 37
Accounts Receivable		 131 123 133 147 155 230 227 246 254 249 253
Inventories, net		 14 14 14 13 12 12 12 12 13 13 13
Prepaid Expenses		 56 59 68 119 134 155 242 183 190 236 236
Current Deferred & Refundable Income Taxes		 7.63 7.50 7.22 4.84 4.82 4.47 2.09 2.87 3.60 3.45 3.27
Other Current Assets		 514 592 610 675 676 594 582 618 719 808 914
Plant, Property, & Equipment, net		 17 17 18 17 17 17 11 11 9.85 10 2,247
Total Noncurrent Assets		 1,993 2,102 2,413 2,660 2,708 2,741 2,902 3,004 2,996 3,077 905
Noncurrent Note & Lease Receivables		 540 499 529 578 552 566 615 609 516 513 527
Goodwill		 78 78 77 75 75 76 68 69 69 69 69
Intangible Assets		 8.67 8.14 7.35 6.20 5.64 5.39 9.17 8.75 8.11 6.87 6.30
Noncurrent Deferred & Refundable Income Taxes		 3.05 3.59 9.44 26 30 37 67 71 76 99 98
Other Noncurrent Operating Assets		 1,363 1,513 1,790 1,975 2,045 2,057 2,142 2,246 2,326 2,389 205
Total Liabilities & Shareholders' Equity		 2,967 3,041 3,461 3,803 3,965 3,982 4,170 4,295 4,426 4,641 4,832
Total Liabilities		 2,026 2,119 2,515 2,829 2,980 2,973 3,122 3,223 3,331 3,530 3,481
Total Current Liabilities		 767 752 882 1,162 1,232 965 798 822 939 1,044 1,005
Short-Term Debt		 313 333 410 539 524 343 149 161 167 162 164
Accounts Payable		 285 290 328 437 497 399 436 452 570 667 642
Accrued Expenses		 115 81 94 110 100 101 112 105 106 119 108
Current Deferred Revenue		 39 40 37 61 97 108 91 96 87 85 76
Current Deferred & Payable Income Tax Liabilities		 7.95 1.56 1.11 0.40 0.22 0.66 0.12 0.56 1.43 1.78 5.31
Other Current Liabilities		 5.87 5.94 13 14 14 12 9.59 7.62 8.06 9.58 9.41
Total Noncurrent Liabilities		 1,259 1,367 1,632 1,667 1,748 2,008 2,324 2,401 2,392 2,485 2,476
Long-Term Debt		 632 784 1,022 1,012 1,079 1,318 1,567 1,662 1,717 1,825 1,794
Capital Lease Obligations		 32 32 39 51 49 58 58 58 56 54 53
Noncurrent Deferred & Payable Income Tax Liabilities		 2.87 7.97 4.13 4.58 4.37 2.60 2.12 2.18 2.77 3.49 1.03
Other Noncurrent Operating Liabilities		 592 542 567 600 616 630 696 679 616 604 628
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 47 48 47 44 44 43 1.97 1.54 1.56 1.47 0.00
Total Equity & Noncontrolling Interests		 895 874 899 930 941 967 1,046 1,071 1,094 1,110 1,351
Total Preferred & Common Equity		 829 844 869 905 915 937 1,012 1,035 1,056 1,065 1,237
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		 829 844 869 905 915 937 1,012 1,035 1,056 1,065 1,237
Common Stock		 311 317 322 327 332 336 382 386 390 400 565
Retained Earnings		 535 541 562 593 598 616 647 660 678 678 688
Treasury Stock		 -12 -12 -12 -12 -12 -12 -12 -12 -12 -12 -12
Accumulated Other Comprehensive Income / (Loss)		 -4.65 -2.88 -3.74 -3.59 -3.80 -2.80 -4.94 0.24 -1.07 -2.32 -4.77
Noncontrolling Interest		 66 30 31 25 26 29 34 36 38 45 114

Annual Metrics And Ratios for Ameresco

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.32% 6.34% 3.23% 10.12% 9.76% 10.14% 19.07% 17.77% 50.07% -24.65% 28.76%
EBITDA Growth		 25.28% -15.49% 65.50% 30.98% 34.54% 4.14% 29.32% 26.11% 27.43% -34.41% 19.59%
EBIT Growth		 128.05% -95.36% 5,505.14% 75.46% 47.61% -13.77% 54.37% 38.48% 33.18% -64.92% -9.21%
NOPAT Growth		 273.99% -621.63% 115.40% 144.97% 22.71% 8.62% 26.74% 35.78% 25.02% 9.74% 27.69%
Net Income Growth		 330.12% -145.11% 356.13% 179.30% 12.14% 7.25% 41.24% 40.88% 22.89% -35.16% -15.59%
EPS Growth		 340.00% -90.91% 1,200.00% 215.38% -1.22% 14.81% 18.28% 22.73% 31.85% -34.27% -8.55%
Operating Cash Flow Growth		 102.16% -3,887.31% -6.25% -157.57% 60.76% -268.96% 47.74% -67.96% -96.34% 79.31% 268.02%
Free Cash Flow Firm Growth		 138.35% -627.13% 62.26% 32.15% 108.07% -6,470.55% 90.87% -1,070.85% -164.26% -12.01% 95.19%
Invested Capital Growth		 -0.51% 3.04% 17.64% 17.38% 9.91% 39.85% 11.26% 31.68% 51.54% 37.93% 8.30%
Revenue Q/Q Growth		 0.84% -1.14% 0.07% 5.43% 0.80% 11.48% 0.75% 9.12% -4.41% 8.67% 5.44%
EBITDA Q/Q Growth		 16.68% -23.71% 25.57% 13.37% 5.92% 3.92% 9.04% 6.38% -7.19% 4.75% 9.63%
EBIT Q/Q Growth		 117.04% -96.84% 115.07% 29.45% 5.45% 3.51% 16.10% 7.96% -12.25% 1.95% 8.48%
NOPAT Q/Q Growth		 105.61% -669.47% 416.38% 93.49% -17.11% 25.69% -0.39% 8.37% -6.17% 34.42% 9.44%
Net Income Q/Q Growth		 214.35% -144.04% 515.55% 104.44% -20.74% 32.66% 5.90% 7.84% -10.00% 29.22% 9.81%
EPS Q/Q Growth		 214.29% -90.91% 62.50% 110.26% -25.00% 30.99% 0.92% 5.47% -10.10% 32.95% 8.08%
Operating Cash Flow Q/Q Growth		 104.79% -157.77% 18.14% -41.68% 31.07% -38.35% 35.63% -27.50% -2.79% 33.68% 68.84%
Free Cash Flow Firm Q/Q Growth		 -30.93% -405.66% 11.26% 44.67% 121.78% -67.73% 66.35% -4.34% -27.67% 12.95% 81.40%
Invested Capital Q/Q Growth		 -2.33% 6.73% 7.83% 5.47% 0.17% 11.31% 6.02% 5.96% 9.97% 5.02% 0.76%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.71% 18.56% 20.63% 20.10% 22.06% 19.39% 18.17% 18.95% 15.94% 17.93% 14.47%
EBITDA Margin		 5.14% 4.08% 6.55% 7.79% 9.54% 9.02% 9.80% 10.49% 8.91% 7.76% 7.20%
Operating Margin		 2.22% 1.12% 3.65% 5.10% 7.51% 5.95% 6.93% 7.85% 7.20% 5.85% 6.10%
EBIT Margin		 1.06% 0.05% 2.51% 4.00% 5.39% 4.22% 5.47% 6.43% 5.70% 2.66% 1.87%
Profit (Net Income) Margin		 1.75% -0.74% 1.84% 4.67% 4.77% 4.65% 5.51% 6.60% 5.40% 4.65% 3.05%
Tax Burden Percent		 165.02% -1,604.11% 73.30% 116.68% 88.65% 110.25% 100.88% 102.62% 93.22% 166.99% 158.93%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 101.58% 104.82% 102.39%
Effective Tax Rate		 -65.02% 1,704.11% 26.70% -16.68% 11.35% -10.25% -0.88% -2.62% 6.78% -66.99% -58.93%
Return on Invested Capital (ROIC)		 6.13% -31.57% 4.40% 9.17% 9.93% 8.59% 8.84% 9.84% 8.60% 6.58% 6.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 -9.47% 120.27% -0.95% 2.67% 0.57% 1.57% 4.09% 4.83% 4.54% 0.15% -1.13%
Return on Net Nonoperating Assets (RNNOA)		 -2.44% 29.94% -0.33% 1.17% 0.24% 0.87% 2.64% 2.67% 3.20% 0.17% -1.62%
Return on Equity (ROE)		 3.69% -1.63% 4.07% 10.34% 10.18% 9.46% 11.47% 12.51% 11.80% 6.75% 5.34%
Cash Return on Invested Capital (CROIC)		 6.64% -34.56% -11.81% -6.82% 0.49% -24.64% -1.83% -17.52% -32.38% -25.30% -1.01%
Operating Return on Assets (OROA)		 1.02% 0.04% 2.15% 3.22% 3.95% 2.88% 3.61% 3.93% 4.08% 1.11% 0.84%
Return on Assets (ROA)		 1.69% -0.70% 1.58% 3.76% 3.50% 3.18% 3.64% 4.03% 3.86% 1.94% 1.37%
Return on Common Equity (ROCE)		 3.69% -1.63% 4.02% 10.07% 9.83% 8.95% 10.66% 11.68% 10.80% 6.16% 5.06%
Return on Equity Simple (ROE_SIMPLE)		 3.63% -1.63% 4.08% 9.95% 9.97% 9.40% 11.55% 11.39% 11.96% 7.08% 5.32%
Net Operating Profit after Tax (NOPAT)		 22 -113 17 43 52 57 72 98 122 134 172
NOPAT Margin		 3.66% -17.94% 2.68% 5.95% 6.66% 6.56% 6.99% 8.06% 6.71% 9.77% 9.69%
Net Nonoperating Expense Percent (NNEP)		 15.60% -151.84% 5.35% 6.50% 9.36% 7.02% 4.75% 5.00% 4.06% 6.44% 8.09%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 6.78% 5.46% 6.27%
Cost of Revenue to Revenue		 80.29% 81.44% 79.37% 79.90% 77.94% 80.61% 81.83% 81.05% 84.06% 82.07% 85.53%
SG&A Expenses to Revenue		 17.49% 17.44% 16.98% 15.00% 14.55% 13.44% 11.24% 10.93% 8.74% 11.80% 9.82%
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		 17.49% 17.44% 16.98% 15.00% 14.55% 13.44% 11.24% 11.09% 8.74% 12.07% 8.37%
Earnings before Interest and Taxes (EBIT)		 6.29 0.29 16 29 42 37 56 78 104 37 33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 30 26 43 56 75 78 101 128 163 107 128
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.13 1.01 0.86 1.16 1.72 1.92 5.07 5.96 3.60 1.83 1.22
Price to Tangible Book Value (P/TBV)		 1.51 1.31 1.09 1.41 2.05 2.23 5.77 6.71 3.96 2.02 1.31
Price to Revenue (P/Rev)		 0.55 0.46 0.39 0.55 0.82 0.95 2.42 3.45 1.63 1.20 0.70
Price to Earnings (P/E)		 31.25 344.47 20.96 10.44 17.07 18.52 46.26 59.60 31.25 26.48 21.70
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		 3.20% 0.29% 4.77% 9.58% 5.86% 5.40% 2.16% 1.68% 3.20% 3.78% 4.61%
Enterprise Value to Invested Capital (EV/IC)		 1.12 1.01 0.90 1.11 1.50 1.51 3.34 4.09 2.25 1.32 1.09
Enterprise Value to Revenue (EV/Rev)		 0.67 0.58 0.59 0.78 1.06 1.35 2.78 3.81 2.11 2.27 1.57
Enterprise Value to EBITDA (EV/EBITDA)		 12.98 14.26 9.06 9.98 11.06 14.92 28.34 36.27 23.73 29.24 21.80
Enterprise Value to EBIT (EV/EBIT)		 62.88 1,257.75 23.58 19.41 19.60 31.92 50.81 59.21 37.07 85.40 83.87
Enterprise Value to NOPAT (EV/NOPAT)		 18.23 0.00 22.15 13.05 15.86 20.50 39.75 47.24 31.51 23.21 16.21
Enterprise Value to Operating Cash Flow (EV/OCF)		 302.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 16.83 0.00 0.00 0.00 324.28 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.36 0.40 0.53 0.56 0.63 0.79 0.78 0.61 1.01 1.58 1.62
Long-Term Debt to Equity		 0.31 0.35 0.47 0.50 0.56 0.64 0.65 0.50 0.65 1.25 1.47
Financial Leverage		 0.26 0.25 0.34 0.44 0.43 0.55 0.64 0.55 0.70 1.16 1.44
Leverage Ratio		 2.18 2.34 2.58 2.75 2.91 2.98 3.15 3.10 3.05 3.48 3.90
Compound Leverage Factor		 2.18 2.34 2.58 2.75 2.91 2.98 3.15 3.10 3.10 3.65 3.99
Debt to Total Capital		 26.32% 28.35% 34.68% 36.05% 38.59% 44.23% 43.92% 37.80% 50.33% 61.20% 61.77%
Short-Term Debt to Total Capital		 3.15% 3.34% 4.18% 4.12% 4.22% 8.47% 7.32% 6.54% 17.90% 12.85% 5.45%
Long-Term Debt to Total Capital		 23.17% 25.01% 30.49% 31.93% 34.37% 35.76% 36.60% 31.26% 32.42% 48.35% 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% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.12% 1.49% 1.91% 2.31% 3.83% 4.10% 3.83% 5.16% 2.82% 1.25%
Common Equity to Total Capital		 73.68% 71.53% 63.84% 62.04% 59.10% 51.94% 51.98% 58.37% 44.51% 35.97% 36.97%
Debt to EBITDA		 3.36 4.42 3.75 3.50 3.28 4.67 4.12 3.58 5.73 14.39 13.28
Net Debt to EBITDA		 2.34 2.95 2.98 2.79 2.23 3.99 3.24 2.99 4.89 13.06 11.88
Long-Term Debt to EBITDA		 2.95 3.90 3.30 3.10 2.92 3.78 3.43 2.96 3.69 11.37 12.10
Debt to NOPAT		 4.71 -1.01 9.17 4.58 4.70 6.42 5.77 4.66 7.61 11.42 9.87
Net Debt to NOPAT		 3.28 -0.67 7.29 3.64 3.20 5.48 4.55 3.89 6.50 10.37 8.83
Long-Term Debt to NOPAT		 4.15 -0.89 8.07 4.06 4.18 5.19 4.81 3.85 4.90 9.02 9.00
Altman Z-Score		 2.12 1.77 1.58 1.63 1.72 1.66 2.29 2.74 2.00 1.06 1.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.09% 1.25% 2.65% 3.39% 5.44% 7.10% 6.63% 8.49% 8.79% 5.21%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.51 1.47 1.19 1.42 1.40 1.26 1.28 1.35 1.23 1.25 1.46
Quick Ratio		 0.67 0.53 0.56 0.54 0.66 0.43 0.58 0.54 0.40 0.30 0.46
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 24 -124 -47 -32 2.56 -163 -15 -174 -461 -516 -25
Operating Cash Flow to CapEx		 4.60% -95.58% -69.22% -158.32% -41.05% -138.81% -56.13% -93.75% -103.17% -12.68% 26.83%
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		 0.97 0.94 0.86 0.81 0.73 0.68 0.66 0.61 0.72 0.42 0.45
Accounts Receivable Turnover		 7.72 8.70 8.21 8.41 9.20 9.53 9.35 8.47 10.86 8.40 8.63
Inventory Turnover		 49.74 46.45 40.82 56.61 77.15 82.21 94.85 113.37 133.21 81.01 120.18
Fixed Asset Turnover		 73.83 99.34 125.89 138.97 0.00 0.00 108.17 110.02 126.59 83.05 124.49
Accounts Payable Turnover		 5.69 5.07 4.28 4.37 4.54 4.15 3.90 3.65 4.66 3.00 3.25
Days Sales Outstanding (DSO)		 47.27 41.96 44.48 43.38 39.67 38.28 39.05 43.08 33.61 43.46 42.31
Days Inventory Outstanding (DIO)		 7.34 7.86 8.94 6.45 4.73 4.44 3.85 3.22 2.74 4.51 3.04
Days Payable Outstanding (DPO)		 64.10 71.95 85.21 83.60 80.38 87.94 93.62 99.99 78.31 121.62 112.37
Cash Conversion Cycle (CCC)		 -9.49 -22.13 -31.79 -33.77 -35.98 -45.22 -50.72 -53.69 -41.97 -73.66 -67.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 353 364 428 503 552 772 860 1,132 1,715 2,366 2,562
Invested Capital Turnover		 1.68 1.76 1.64 1.54 1.49 1.31 1.27 1.22 1.28 0.67 0.72
Increase / (Decrease) in Invested Capital		 -1.81 11 64 74 50 220 87 272 583 651 196
Enterprise Value (EV)		 396 367 386 557 831 1,167 2,867 4,627 3,858 3,118 2,780
Market Capitalization		 324 291 252 391 648 823 2,501 4,199 2,966 1,654 1,231
Book Value per Share		 $6.18 $6.18 $6.42 $7.40 $8.20 $9.12 $10.30 $13.66 $15.87 $17.27 $19.32
Tangible Book Value per Share		 $4.63 $4.76 $5.07 $6.11 $6.88 $7.84 $9.05 $12.14 $14.42 $15.69 $17.89
Total Capital		 389 402 461 543 638 826 948 1,207 1,851 2,507 2,740
Total Debt		 102 114 160 196 246 365 416 456 932 1,535 1,693
Total Long-Term Debt		 90 100 141 173 219 295 347 377 600 1,212 1,543
Net Debt		 71 76 127 156 168 312 328 381 796 1,393 1,515
Capital Expenditures (CapEx)		 28 52 76 86 130 141 183 184 328 552 438
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 54 60 22 67 37 105 88 169 384 408 383
Debt-free Net Working Capital (DFNWC)		 85 97 55 107 115 159 177 243 521 549 561
Net Working Capital (NWC)		 73 84 35 85 88 89 108 164 189 227 412
Net Nonoperating Expense (NNE)		 11 -109 5.43 9.18 15 17 15 18 24 70 118
Net Nonoperating Obligations (NNO)		 67 76 127 156 161 312 328 381 796 1,393 1,515
Total Depreciation and Amortization (D&A)		 24 25 26 27 33 42 45 49 58 70 94
Debt-free, Cash-free Net Working Capital to Revenue		 9.11% 9.44% 3.35% 9.38% 4.69% 12.14% 8.57% 13.87% 21.07% 29.66% 21.65%
Debt-free Net Working Capital to Revenue		 14.35% 15.44% 8.41% 14.96% 14.64% 18.28% 17.14% 20.01% 28.54% 39.96% 31.72%
Net Working Capital to Revenue		 12.28% 13.31% 5.45% 11.84% 11.22% 10.21% 10.43% 13.52% 10.38% 16.51% 23.28%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.22 $0.06 $0.26 $0.82 $0.83 $0.95 $1.13 $1.38 $1.83 $1.20 $1.08
Adjusted Weighted Average Basic Shares Outstanding		 46.16M 46.49M 46.41M 45.51M 45.73M 46.59M 47.70M 50.86M 51.84M 52.14M 52.38M
Adjusted Diluted Earnings per Share		 $0.22 $0.06 $0.26 $0.82 $0.81 $0.93 $1.10 $1.35 $1.78 $1.17 $1.07
Adjusted Weighted Average Diluted Shares Outstanding		 46.72M 47.66M 46.49M 45.75M 46.83M 47.77M 49.01M 52.27M 53.28M 53.23M 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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 46.42M 46.77M 45.39M 45.32M 46.30M 47.38M 48.25M 51.72M 51.95M 52.28M 52.54M
Normalized Net Operating Profit after Tax (NOPAT)		 9.21 4.94 17 26 52 36 50 68 122 59 84
Normalized NOPAT Margin		 1.55% 0.78% 2.68% 3.57% 6.66% 4.17% 4.85% 5.60% 6.71% 4.29% 4.76%
Pre Tax Income Margin		 1.06% 0.05% 2.51% 4.00% 5.39% 4.22% 5.47% 6.43% 5.79% 2.78% 1.92%
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		 0.09% -2.48% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.14% 35.21% 3.32%
Augmented Payout Ratio		 0.09% -2.48% 53.24% 10.18% 4.89% 0.36% 0.01% 0.00% 1.14% 35.21% 3.32%

Quarterly Metrics And Ratios for Ameresco

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 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 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 52,797,456.00 52,951,417.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 52,797,456.00 52,951,417.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.35 0.18
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -24.05% 33.05% 10.10% 33.91% 49.45% 20.69% 18.24% 7.83% 5.01% 13.78% 9.14%
EBITDA Growth		 -37.55% 22.28% -15.43% 3.38% 33.03% 36.41% 53.74% 45.17% 18.67% -4.90% 29.05%
EBIT Growth		 -65.63% 16.85% -686.15% -38.30% 25.43% 26.77% 28.49% 140.05% 20.97% -50.78% 36.42%
NOPAT Growth		 20.35% 123.03% -58.36% 19.01% 5.06% 32.31% 71.30% 62.14% 17.08% -25.16% 27.92%
Net Income Growth		 -24.85% 77.50% -496.79% -38.26% -18.37% 14.56% 9.26% 198.77% 28.36% -156.56% 28.28%
EPS Growth		 -21.57% 85.29% -400.00% -25.00% -17.50% 12.70% -66.67% 166.67% 6.06% -250.00% -25.00%
Operating Cash Flow Growth		 -118.95% 54.59% -64.58% 157.56% 481.79% 162.14% -235.97% -150.41% -29.41% 225.06% -298.95%
Free Cash Flow Firm Growth		 -42.56% -6.20% -194.22% 0.95% 62.14% 80.07% 68.36% 20.19% -0.67% -20.47% 5.40%
Invested Capital Growth		 44.43% 37.93% 42.02% 21.90% 12.88% 8.30% 9.68% 15.05% 11.77% 10.47% 12.78%
Revenue Q/Q Growth		 2.47% 31.69% -32.39% 46.77% 14.36% 6.35% -33.76% 33.86% 11.37% 0.00% 28.40%
EBITDA Q/Q Growth		 10.98% 23.17% -63.46% 97.25% 42.80% 26.30% -56.79% 86.26% 72.67% 0.00% 100.34%
EBIT Q/Q Growth		 28.15% 50.64% -134.31% 184.07% 160.51% 52.25% -121.45% 382.21% 209.97% 0.00% 504.13%
NOPAT Q/Q Growth		 135.16% 43.43% -91.06% 274.49% 107.60% 80.62% -87.80% 254.46% 49.90% 0.00% 505.86%
Net Income Q/Q Growth		 147.74% 58.78% -118.67% 184.07% 227.57% 122.82% -114.79% 376.81% 40.74% 0.00% 238.41%
EPS Q/Q Growth		 233.33% 57.50% -109.52% 250.00% 266.67% 115.15% -114.08% 340.00% 45.83% 0.00% 151.43%
Operating Cash Flow Q/Q Growth		 92.90% -349.94% 170.40% 156.11% -52.94% -26.76% -254.03% 5.06% 165.91% 0.00% -402.88%
Free Cash Flow Firm Q/Q Growth		 -56.10% 9.27% -21.83% 42.28% 40.33% 52.25% -92.35% -45.61% 24.73% 0.00% -14.34%
Invested Capital Q/Q Growth		 13.57% 5.02% 3.14% -0.91% 5.17% 0.76% 4.46% 3.95% 2.17% 0.00% 6.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 18.99% 16.81% 15.75% 14.88% 15.40% 12.54% 14.72% 15.53% 16.03% 14.06% 17.71%
EBITDA Margin		 8.62% 8.06% 4.57% 6.14% 7.67% 9.11% 5.94% 8.27% 12.82% 9.68% 15.11%
Operating Margin		 6.39% 7.32% 2.68% 4.78% 6.99% 8.26% 3.88% 5.85% 8.05% 2.55% 8.49%
EBIT Margin		 3.22% 3.68% -2.07% 1.19% 2.70% 3.87% -1.25% 2.64% 7.35% 1.90% 8.93%
Profit (Net Income) Margin		 6.22% 7.50% -2.07% 1.19% 3.40% 7.12% -1.59% 3.29% 4.15% -3.58% 3.86%
Tax Burden Percent		 193.20% 183.75% 100.00% 100.00% 124.28% 178.53% 126.89% 122.98% 120.25% 81.88% 99.32%
Interest Burden Percent		 100.00% 110.82% 100.00% 100.00% 101.18% 103.07% 100.00% 101.20% 46.99% -230.48% 43.53%
Effective Tax Rate		 -93.20% -83.75% 0.00% 0.00% -24.28% -78.53% 0.00% -22.98% -20.25% 0.00% 0.68%
Return on Invested Capital (ROIC)		 8.20% 9.06% 1.26% 3.29% 6.08% 10.60% 1.94% 5.14% 6.77% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.15% 6.66% 0.21% 2.03% 4.21% 7.80% 0.96% 3.97% 5.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 6.81% 7.70% 0.25% 2.65% 6.12% 11.22% 1.46% 6.06% 7.79% 0.00% 0.00%
Return on Equity (ROE)		 15.00% 16.77% 1.52% 5.94% 12.20% 21.82% 3.40% 11.20% 14.57% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 -31.11% -25.30% -27.66% -12.43% -5.57% -1.01% -2.45% -7.04% -4.18% -9.95% -12.02%
Operating Return on Assets (OROA)		 1.25% 1.54% -0.86% 0.51% 1.22% 1.74% -0.57% 1.19% 3.29% 0.00% 0.00%
Return on Assets (ROA)		 2.42% 3.13% -0.86% 0.51% 1.53% 3.20% -0.73% 1.48% 1.86% 0.00% 0.00%
Return on Common Equity (ROCE)		 13.82% 15.29% 1.37% 5.48% 11.26% 20.68% 3.22% 10.61% 13.79% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 5.69% 0.00% 6.21% 5.79% 5.24% 0.00% 5.39% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 41 59 5.60 21 43 79 9.58 34 51 7.17 43
NOPAT Margin		 12.35% 13.45% 1.88% 4.78% 8.68% 14.75% 2.72% 7.19% 9.68% 1.79% 8.43%
Net Nonoperating Expense Percent (NNEP)		 2.05% 2.40% 1.05% 1.26% 1.87% 2.80% 0.98% 1.17% 1.77% 1.24% 1.35%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.41% - - - 2.87% 0.34% 1.15% 1.68% 0.23% 1.29%
Cost of Revenue to Revenue		 81.01% 83.19% 84.25% 85.12% 84.60% 87.46% 85.28% 84.47% 83.97% 85.94% 82.29%
SG&A Expenses to Revenue		 12.76% 8.31% 13.26% 10.10% 8.41% 8.98% 10.91% 9.68% 8.25% 11.54% 9.22%
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		 12.76% 9.18% 13.26% 10.10% 8.41% 4.17% 10.91% 9.68% 8.25% 11.54% 9.22%
Earnings before Interest and Taxes (EBIT)		 11 16 -6.18 5.19 14 21 -4.42 12 39 7.62 46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 29 36 14 27 38 49 21 39 67 39 78
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.32 1.83 1.39 1.65 2.12 1.22 0.63 0.77 1.68 1.26 1.18
Price to Tangible Book Value (P/TBV)		 2.57 2.02 1.53 1.81 2.32 1.31 0.68 0.84 1.81 1.36 1.26
Price to Revenue (P/Rev)		 1.59 1.20 0.90 1.00 1.18 0.70 0.35 0.43 0.94 0.00 0.00
Price to Earnings (P/E)		 43.13 26.48 21.59 26.42 37.23 21.70 11.71 12.87 28.09 0.00 0.00
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		 2.32% 3.78% 4.63% 3.79% 2.69% 4.61% 8.54% 7.77% 3.56% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.51 1.32 1.15 1.25 1.41 1.09 0.86 0.92 1.25 1.10 1.07
Enterprise Value to Revenue (EV/Rev)		 2.69 2.27 1.99 1.99 2.14 1.57 1.26 1.37 1.89 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 33.37 29.24 26.41 28.20 30.90 21.80 17.05 17.32 22.56 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 94.85 85.40 90.11 108.26 117.61 83.87 65.86 60.37 72.75 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 33.99 23.21 19.05 18.73 22.92 16.21 13.25 14.08 19.03 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 79.26 51.60 23.64 33.57 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		 1.55 1.58 1.64 1.68 1.70 1.62 1.69 1.75 1.77 1.84 1.49
Long-Term Debt to Equity		 1.12 1.25 1.09 1.14 1.36 1.47 1.55 1.60 1.62 1.69 1.37
Financial Leverage		 1.11 1.16 1.17 1.31 1.45 1.44 1.53 1.53 1.56 1.61 1.44
Leverage Ratio		 3.59 3.48 3.53 3.67 3.81 3.90 3.94 4.02 3.99 4.08 3.77
Compound Leverage Factor		 3.59 3.86 3.53 3.67 3.85 4.02 3.94 4.06 1.88 -9.40 1.64
Debt to Total Capital		 60.85% 61.20% 62.18% 62.64% 63.00% 61.77% 62.87% 63.68% 63.91% 64.74% 59.82%
Short-Term Debt to Total Capital		 16.96% 12.85% 20.94% 19.87% 12.58% 5.45% 5.29% 5.44% 5.50% 5.15% 4.89%
Long-Term Debt to Total Capital		 43.89% 48.35% 41.24% 42.77% 50.42% 56.32% 57.58% 58.24% 58.40% 59.59% 54.94%
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		 3.22% 2.82% 2.68% 2.67% 2.64% 1.25% 1.28% 1.28% 1.31% 1.49% 3.40%
Common Equity to Total Capital		 35.93% 35.97% 35.14% 34.70% 34.36% 36.97% 35.85% 35.04% 34.78% 33.78% 36.77%
Debt to EBITDA		 14.45 14.39 15.12 15.47 14.78 13.28 13.16 12.79 12.31 0.00 0.00
Net Debt to EBITDA		 12.83 13.06 13.84 13.42 13.18 11.88 12.08 11.63 11.08 0.00 0.00
Long-Term Debt to EBITDA		 10.42 11.37 10.03 10.56 11.83 12.10 12.05 11.70 11.25 0.00 0.00
Debt to NOPAT		 14.72 11.42 10.91 10.27 10.96 9.87 10.23 10.39 10.38 0.00 0.00
Net Debt to NOPAT		 13.07 10.37 9.99 8.91 9.78 8.83 9.38 9.45 9.35 0.00 0.00
Long-Term Debt to NOPAT		 10.62 9.02 7.24 7.01 8.77 9.00 9.37 9.50 9.49 0.00 0.00
Altman Z-Score		 1.13 1.04 0.84 0.90 1.13 1.02 0.91 0.93 1.12 0.57 0.65
Noncontrolling Interest Sharing Ratio		 7.89% 8.79% 9.48% 7.80% 7.67% 5.21% 5.20% 5.26% 5.32% 3.84% 6.28%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.17 1.25 0.97 1.01 1.27 1.46 1.57 1.56 1.51 1.49 1.67
Quick Ratio		 0.31 0.30 0.22 0.28 0.40 0.46 0.43 0.46 0.42 0.39 0.43
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -652 -591 -716 -413 -247 -118 -227 -330 -248 -273 -312
Operating Cash Flow to CapEx		 -3.49% -31.59% 18.59% 41.64% 21.18% 23.00% -24.78% -25.71% 21.75% 36.51% -80.26%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -12.12 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 0.86 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 -3.11 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.39 0.42 0.41 0.43 0.45 0.45 0.46 0.45 0.45 0.00 0.00
Accounts Receivable Turnover		 7.17 8.40 10.09 10.88 9.24 8.63 9.77 9.28 7.78 0.00 0.00
Inventory Turnover		 77.12 81.01 86.83 94.92 110.47 120.18 122.98 127.81 129.85 0.00 0.00
Fixed Asset Turnover		 78.27 83.05 82.39 89.30 97.80 124.49 129.36 133.86 141.50 0.00 0.00
Accounts Payable Turnover		 2.79 3.00 3.21 3.21 3.89 3.25 3.58 3.35 3.32 0.00 0.00
Days Sales Outstanding (DSO)		 50.91 43.46 36.16 33.54 39.51 42.31 37.36 39.33 46.90 0.00 0.00
Days Inventory Outstanding (DIO)		 4.73 4.51 4.20 3.85 3.30 3.04 2.97 2.86 2.81 0.00 0.00
Days Payable Outstanding (DPO)		 130.89 121.62 113.85 113.77 93.81 112.37 101.90 108.92 110.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -75.24 -73.66 -73.48 -76.39 -51.00 -67.02 -61.57 -66.74 -60.29 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,253 2,366 2,440 2,418 2,543 2,562 2,676 2,782 2,842 2,957 3,138
Invested Capital Turnover		 0.66 0.67 0.67 0.69 0.70 0.72 0.71 0.71 0.70 0.00 0.00
Increase / (Decrease) in Invested Capital		 693 651 722 434 290 196 236 364 299 280 356
Enterprise Value (EV)		 3,397 3,118 2,797 3,011 3,594 2,780 2,299 2,546 3,556 3,238 3,362
Market Capitalization		 2,013 1,654 1,262 1,508 1,988 1,231 635 799 1,770 1,346 1,461
Book Value per Share		 $16.64 $17.27 $17.31 $17.48 $17.89 $19.32 $19.26 $19.67 $20.03 $20.16 $23.36
Tangible Book Value per Share		 $15.02 $15.69 $15.75 $15.93 $16.34 $17.89 $17.78 $18.18 $18.56 $18.73 $21.94
Total Capital		 2,417 2,507 2,576 2,636 2,728 2,740 2,823 2,952 3,035 3,152 3,363
Total Debt		 1,471 1,535 1,601 1,651 1,719 1,693 1,775 1,880 1,940 2,040 2,012
Total Long-Term Debt		 1,061 1,212 1,062 1,128 1,376 1,543 1,625 1,719 1,773 1,878 1,848
Net Debt		 1,306 1,393 1,466 1,433 1,533 1,515 1,628 1,710 1,747 1,845 1,786
Capital Expenditures (CapEx)		 188 94 112 128 118 80 114 105 81 97 134
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 393 408 368 313 418 383 462 448 455 477 615
Debt-free Net Working Capital (DFNWC)		 558 549 503 531 603 561 608 619 648 672 840
Net Working Capital (NWC)		 148 227 -36 7.57 260 412 459 458 481 510 676
Net Nonoperating Expense (NNE)		 21 26 12 16 26 41 15 18 29 22 24
Net Nonoperating Obligations (NNO)		 1,306 1,393 1,466 1,433 1,533 1,515 1,628 1,710 1,747 1,845 1,786
Total Depreciation and Amortization (D&A)		 18 19 20 22 25 28 25 27 29 31 32
Debt-free, Cash-free Net Working Capital to Revenue		 31.07% 29.66% 26.25% 20.69% 24.89% 21.65% 25.32% 24.13% 24.17% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 44.09% 39.96% 35.91% 35.12% 35.93% 31.72% 33.33% 33.30% 34.41% 0.00% 0.00%
Net Working Capital to Revenue		 11.68% 16.51% -2.55% 0.50% 15.48% 23.28% 25.15% 24.66% 25.54% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.41 $0.65 ($0.06) $0.10 $0.34 $0.70 ($0.10) $0.24 $0.35 ($0.35) $0.18
Adjusted Weighted Average Basic Shares Outstanding		 52.21M 52.14M 52.29M 52.36M 52.41M 52.38M 52.54M 52.64M 52.72M 52.89M 52.99M
Adjusted Diluted Earnings per Share		 $0.40 $0.63 ($0.06) $0.09 $0.33 $0.71 ($0.10) $0.24 $0.35 ($0.35) $0.18
Adjusted Weighted Average Diluted Shares Outstanding		 53.30M 53.23M 52.29M 53.11M 53.24M 53.14M 52.54M 52.82M 53.37M 52.89M 53.84M
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		 52.23M 52.28M 52.34M 52.40M 52.44M 52.54M 52.60M 52.70M 52.80M 52.95M 53.07M
Normalized Net Operating Profit after Tax (NOPAT)		 15 23 5.60 15 25 31 9.58 19 30 7.17 43
Normalized NOPAT Margin		 4.48% 5.13% 1.88% 3.35% 4.89% 5.78% 2.72% 4.09% 5.64% 1.79% 8.43%
Pre Tax Income Margin		 3.22% 4.08% -2.07% 1.19% 2.73% 3.99% -1.25% 2.67% 3.45% -4.38% 3.89%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.89 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.49 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 -2.09 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 -1.49 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 43.19% 35.21% 40.12% 5.49% 6.66% 3.32% 4.77% 5.20% 7.68% 0.00% 0.00%
Augmented Payout Ratio		 43.19% 35.21% 40.12% 5.49% 6.66% 3.32% 4.77% 5.20% 7.68% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Ameresco’s Q2 2026 results show improving operating performance, but the company remains heavily dependent on financing and capital spending to support growth. Revenue increased to $515.5 million from $472.3 million in Q2 2025, a 9.1% year-over-year gain. Gross profit rose 24.4% to $91.3 million, expanding the gross margin to approximately 17.7% from 15.5%. Operating income more than quadrupled from $10.2 million in Q1 2026 to $43.8 million in Q2.

  • Revenue growth has returned. Quarterly revenue increased from $327.1 million in Q2 2023 to $438.0 million in Q2 2024, $472.3 million in Q2 2025 and $515.5 million in Q2 2026. The latest figure is still below the $577.4 million reported in Q2 2022, but the recent trend is positive.
  • Profitability improved significantly in Q2 2026. Gross profit rose 24.4% year over year, while operating income increased to $43.8 million from $27.6 million in the comparable quarter. This suggests better project economics and operating leverage.
  • The company returned to positive earnings after a weak first quarter. Ameresco reported consolidated net income of $19.9 million in Q2 2026, compared with a $14.4 million loss in Q1. Diluted EPS improved from a loss of $0.35 to positive EPS of $0.18.
  • Ameresco continues to build its asset base. Total assets increased to $4.83 billion at June 30, 2026, from $4.30 billion a year earlier. Net property, plant and equipment also increased sharply, reflecting continued investment in energy projects and infrastructure.
  • Liquidity is better than a year ago. Cash and equivalents increased to $138.3 million from $81.6 million in Q2 2024 and $103.97 million in Q1 2026. Including restricted cash, the company held approximately $225.5 million at the end of Q2.
  • Results remain volatile by quarter. Revenue and profitability have improved over the longer term, but quarterly earnings have varied widely. Ameresco reported losses in Q1 2024, Q1 2025 and Q1 2026, followed by stronger second- or third-quarter results.
  • Reported earnings are meaningfully reduced by noncontrolling interests. Of the $19.9 million in consolidated net income in Q2 2026, only $9.7 million was attributable to common shareholders. Investors should focus on common-shareholder earnings rather than consolidated net income alone.
  • Operating cash flow deteriorated sharply in Q2 2026. Ameresco used $107.2 million in cash from operations, compared with cash usage of $26.9 million in Q2 2025 and positive operating cash flow of $35.4 million in Q1 2026. The latest outflow was driven by negative noncash adjustments and a $36.3 million use of operating working capital.
  • Capital spending continues to exceed internally generated cash. The company spent $133.6 million on property, plant and equipment in Q2 2026, up from $104.5 million in Q2 2025. This contributed to negative free cash flow and indicates that growth remains capital intensive.
  • Debt and financing dependence are important risks. Short- and long-term debt totaled approximately $1.96 billion at the end of Q2 2026, up from about $1.83 billion a year earlier and roughly $1.12 billion in Q2 2023. Q2 cash generation was supported by $229.5 million of common-equity issuance, which may create dilution; diluted shares increased to 53.8 million from 52.8 million in Q3 2025.

Overall, Ameresco’s income statement is moving in the right direction, with stronger revenue, margins and operating income in the latest quarter. However, the cash-flow statement remains a concern: operating cash flow is negative, capital expenditures are elevated and the business required a substantial equity raise to offset investment and operating cash needs. Retail investors should watch whether improved profitability converts into sustained positive operating cash flow without continued increases in debt or share count.

08/14/26 06:09 AM ETAI Generated. May Contain Errors.

Ameresco Financials - Frequently Asked Questions

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.

Ameresco's net income appears to be on an upward trend, with a most recent value of $53.94 million in 2024, rising from $10.38 million in 2014. The previous period was $63.90 million in 2023. Find out what analysts predict for Ameresco in the coming months.

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

Over the last 10 years, Ameresco's total revenue changed from $593.24 million in 2014 to $1.77 billion in 2024, a change of 198.3%.

Ameresco's total liabilities were at $3.41 billion at the end of 2025, a 9.7% increase from 2024, and a 683.6% increase since 2015.

In the past 10 years, Ameresco's cash and equivalents has ranged from $20.61 million in 2016 to $115.53 million in 2022, and is currently $71.79 million as of their latest financial filing in 2025.

Over the last 10 years, Ameresco's book value per share changed from 6.18 in 2014 to 19.32 in 2024, a change of 212.8%.


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Financial statements for NYSE:AMRC last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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