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EMCOR Group (EME) Financials

EMCOR Group logo
$837.20 +5.97 (+0.72%)
Closing price 08/14/2026 03:59 PM Eastern
Extended Trading
$839.12 +1.93 (+0.23%)
As of 08/14/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for EMCOR Group

Annual Income Statements for EMCOR Group

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 172 182 227 284 325 133 384 406 633 1,007 1,273
Consolidated Net Income / (Loss)		 173 182 227 284 325 133 384 406 633 1,007 1,273
Net Income / (Loss) Continuing Operations		 173 185 228 286 325 133 384 406 633 1,007 1,273
Total Pre-Tax Income 		279 296 319 395 451 252 529 559 873 1,377 1,722
Total Operating Income		 287 307 329 403 461 257 531 565 876 1,345 1,713
Total Gross Profit		 944 1,038 1,147 1,205 1,356 1,395 1,502 1,604 2,089 2,765 3,283
Total Revenue		 6,719 7,552 7,687 8,131 9,175 8,797 9,904 11,076 12,583 14,566 16,986
Operating Revenue		 6,719 7,552 7,687 8,131 9,175 8,797 9,904 11,076 12,583 14,566 16,986
Total Cost of Revenue		 5,774 6,514 6,540 6,925 7,819 7,402 8,402 9,473 10,494 11,801 13,703
Operating Cost of Revenue		 5,774 6,514 6,540 6,925 7,819 7,402 8,402 9,473 10,494 11,801 13,703
Total Operating Expenses		 657 731 818 802 895 1,139 971 1,039 1,214 1,420 1,570
Selling, General & Admin Expense		 657 727 759 799 893 904 971 1,039 1,211 1,420 1,714
Other Operating Expenses / (Income)		 - - - - - - - - 0.00 0.00 -145
Impairment Charge		 0.00 2.43 58 0.91 0.00 233 0.00 0.00 2.35 0.00 0.00
Total Other Income / (Expense), net		 -8.26 -10 -10 -8.06 -10 -4.51 -1.50 -6.13 -2.90 33 8.21
Interest Expense		 8.93 13 13 14 14 9.01 6.07 13 17 3.78 12
Interest & Investment Income		 0.67 0.66 0.97 2.75 2.27 1.52 0.95 2.76 15 35 20
Other Income / (Expense), net		 - 1.53 1.65 2.74 1.55 2.98 3.63 4.31 -1.12 0.89 0.21
Income Tax Expense		 106 111 91 109 126 119 146 153 240 370 449
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.22 0.22 -0.00 0.05 0.00 0.00 0.17 0.00 0.34 0.00 0.00
Basic Earnings per Share		 $2.74 $3.00 $3.84 $4.88 $5.78 $2.41 $7.09 $8.13 $13.37 $21.61 $28.30
Weighted Average Basic Shares Outstanding		 62.79M 60.77M 59.25M 58.11M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
Diluted Earnings per Share		 $2.72 $2.97 $3.82 $4.85 $5.75 $2.40 $7.06 $8.10 $13.31 $21.52 $28.19
Weighted Average Diluted Shares Outstanding		 62.79M 60.77M 59.25M 58.11M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
Weighted Average Basic & Diluted Shares Outstanding		 62.79M 60.77M 59.25M 58.11M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
Cash Dividends to Common per Share		 $0.32 $0.32 $0.32 $0.32 $0.32 $0.32 $0.52 $0.54 $0.69 $0.93 $1.00

Quarterly Income Statements for EMCOR Group

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 212 197 248 270 292 241 302 295 435 305 404
Consolidated Net Income / (Loss)		 212 197 248 270 292 241 302 295 435 305 404
Net Income / (Loss) Continuing Operations		 212 197 248 270 292 241 302 295 435 305 404
Total Pre-Tax Income 		292 268 339 372 398 324 412 408 578 410 552
Total Operating Income		 289 260 333 364 389 319 415 406 574 404 547
Total Gross Profit		 618 589 684 735 757 723 834 835 891 864 1,022
Total Revenue		 3,439 3,432 3,667 3,697 3,770 3,867 4,304 4,302 4,513 4,628 5,155
Operating Revenue		 3,439 3,432 3,667 3,697 3,770 3,867 4,304 4,302 4,513 4,628 5,155
Total Cost of Revenue		 2,821 2,843 2,983 2,962 3,013 3,145 3,471 3,466 3,622 3,764 4,133
Operating Cost of Revenue		 2,821 2,843 2,983 2,962 3,013 3,145 3,471 3,466 3,622 3,764 4,133
Total Operating Expenses		 329 329 351 371 368 404 419 430 317 460 475
Selling, General & Admin Expense		 329 329 351 371 368 404 419 430 462 460 475
Total Other Income / (Expense), net		 2.55 7.76 6.33 8.54 9.89 5.44 -3.19 1.89 4.06 6.23 4.32
Interest Expense		 13 -7.54 -6.11 -8.31 26 -5.39 3.24 -1.84 16 -6.23 -4.32
Interest & Investment Income		 - 0.22 - - - - - 0.06 - - 0.00
Income Tax Expense		 80 71 92 102 106 84 110 112 143 105 148
Basic Earnings per Share		 $4.48 $4.18 $5.27 $5.83 $6.33 $5.27 $6.74 $6.59 $9.70 $6.85 $9.09
Weighted Average Basic Shares Outstanding		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
Diluted Earnings per Share		 $4.47 $4.17 $5.25 $5.80 $6.30 $5.26 $6.72 $6.57 $9.64 $6.84 $9.06
Weighted Average Diluted Shares Outstanding		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
Weighted Average Basic & Diluted Shares Outstanding		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
Cash Dividends to Common per Share		 $0.18 $0.18 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.40 $0.40

Annual Cash Flow Statements for EMCOR Group

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 55 -24 2.73 -103 -6.29 544 -81 -366 333 551 -228
Net Cash From Operating Activities		 267 262 366 271 356 806 319 498 900 1,408 1,302
Net Cash From Continuing Operating Activities		 267 262 366 271 356 806 318 498 900 1,408 1,302
Net Income / (Loss) Continuing Operations		 173 182 227 284 325 133 384 406 633 1,007 1,273
Consolidated Net Income / (Loss)		 173 182 227 284 325 133 384 406 633 1,007 1,273
Depreciation Expense		 36 39 40 38 44 47 48 47 52 57 67
Amortization Expense		 39 42 50 44 49 61 65 62 68 78 120
Non-Cash Adjustments To Reconcile Net Income		 -3.09 6.48 89 -16 4.38 255 -31 -34 27 29 -167
Changes in Operating Assets and Liabilities, net		 22 -7.40 -40 -79 -67 310 -148 16 119 237 8.95
Net Cash From Investing Activities		 -60 -271 -138 -118 -345 -95 -153 -141 -161 -299 -874
Net Cash From Continuing Investing Activities		 -60 -271 -138 -118 -345 -95 -153 -141 -161 -299 -874
Purchase of Property, Plant & Equipment		 -35 -40 -35 -43 -48 -48 -36 -49 -78 -75 -113
Acquisitions		 -28 -233 -108 -76 -303 -50 -120 -99 -96 -228 -1,022
Sale of Property, Plant & Equipment		 3.85 2.02 4.01 1.24 5.49 3.46 2.75 7.15 14 3.84 4.65
Divestitures		 - - - - - - - - 0.00 0.00 257
Net Cash From Financing Activities		 -149 -9.43 -228 -253 -19 -172 -245 -710 -412 -555 -664
Net Cash From Continuing Financing Activities		 -149 -9.43 -228 -253 -19 -172 -245 -710 -412 -555 -664
Repayment of Debt		 -20 -514 -117 -17 -45 -541 -18 -287 -449 -2.86 -528
Repurchase of Common Equity		 -104 -94 -93 -216 0.00 -113 -196 -661 -128 -490 -586
Payment of Dividends		 -30 -22 -19 -19 -18 -18 -28 -27 -33 -43 -46
Issuance of Debt		 0.00 620 0.00 0.00 50 500 0.00 270 200 0.00 525
Issuance of Common Equity		 4.22 4.81 4.79 5.77 6.09 6.56 7.33 8.18 9.19 0.94 0.00
Other Financing Activities, net		 1.23 -3.48 -4.48 -7.19 -12 -6.71 -11 -13 -12 -20 -29
Effect of Exchange Rate Changes		 -2.61 -6.68 3.24 -3.42 2.59 4.05 -1.28 -13 6.37 -2.60 6.86

Quarterly Cash Flow Statements for EMCOR Group

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 266 53 -34 229 304 -763 -90 169 456 -196 7.99
Net Cash From Operating Activities		 424 132 280 526 469 108 194 476 524 0.56 289
Net Cash From Continuing Operating Activities		 424 132 280 526 469 112 194 476 524 0.56 289
Net Income / (Loss) Continuing Operations		 212 197 248 270 292 241 302 295 435 305 404
Consolidated Net Income / (Loss)		 212 197 248 270 292 241 302 295 435 305 404
Depreciation Expense		 13 13 14 14 15 16 17 17 18 18 19
Amortization Expense		 19 16 20 20 21 26 30 31 33 34 35
Non-Cash Adjustments To Reconcile Net Income		 18 14 4.79 2.48 8.46 13 5.21 7.11 -192 4.29 6.67
Changes in Operating Assets and Liabilities, net		 162 -108 -6.90 219 133 -184 -160 125 231 -362 -175
Net Cash From Investing Activities		 -27 -19 -192 -33 -56 -875 -63 -39 104 -72 -81
Net Cash From Continuing Investing Activities		 -27 -19 -192 -33 -56 -875 -63 -39 104 -72 -81
Purchase of Property, Plant & Equipment		 -22 -20 -19 -18 -18 -26 -28 -27 -32 -29 -31
Acquisitions		 -6.75 -0.10 -173 -16 -39 -851 -37 -13 -122 -44 -51
Sale of Property, Plant & Equipment		 1.59 0.94 0.72 1.11 1.07 1.33 1.25 1.02 1.04 0.64 1.42
Net Cash From Financing Activities		 -136 -59 -122 -274 -100 -0.83 -230 -264 -169 -124 -200
Net Cash From Continuing Financing Activities		 -136 -59 -122 -274 -100 -0.83 -230 -264 -169 -124 -200
Repayment of Debt		 -204 -0.77 -0.62 -0.75 -0.71 -0.78 -276 -251 -0.61 -0.65 -0.68
Repurchase of Common Equity		 -22 -39 -110 -256 -84 -225 -207 - -154 -87 -181
Payment of Dividends		 -8.49 -8.47 -12 -12 -12 -11 -11 -12 -11 -18 -18
Other Financing Activities, net		 -3.42 -12 -0.12 -4.76 -3.73 -14 -11 -1.21 -2.76 -19 -0.49

Annual Balance Sheets for EMCOR Group

This table presents EMCOR Group'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		 3,543 3,852 3,966 4,089 4,830 5,064 5,441 5,525 6,610 7,716 9,291
Total Current Assets		 2,066 2,169 2,285 2,386 2,660 3,121 3,391 3,462 4,447 5,389 5,937
Cash & Equivalents		 487 465 467 364 359 903 821 456 790 1,340 1,112
Accounts Receivable		 1,360 1,495 1,608 1,774 2,031 1,922 2,205 2,567 3,203 3,578 4,241
Inventories, net		 38 37 43 42 40 53 54 86 111 96 126
Prepaid Expenses		 64 41 44 48 52 71 81 79 73 92 120
Other Current Assets		 118 131 123 158 178 172 230 273 270 285 338
Plant, Property, & Equipment, net		 122 128 127 134 156 158 152 158 179 207 253
Total Noncurrent Assets		 1,355 1,555 1,554 1,568 2,014 1,784 1,898 1,905 1,983 2,120 3,101
Goodwill		 843 980 965 991 1,064 852 890 919 957 1,018 1,412
Intangible Assets		 473 487 495 488 611 583 589 594 586 648 1,109
Other Noncurrent Operating Assets		 30 80 92 89 339 350 419 392 441 453 580
Total Liabilities & Shareholders' Equity		 3,543 3,852 3,966 4,089 4,830 5,064 5,441 5,525 6,610 7,716 9,291
Total Liabilities		 2,063 2,314 2,292 2,347 2,773 3,011 3,188 3,550 4,139 4,778 5,616
Total Current Liabilities		 1,412 1,512 1,651 1,734 1,939 2,163 2,362 2,754 3,518 4,154 4,865
Short-Term Debt		 18 15 15 16 18 17 74 16 - 81 99
Accounts Payable		 488 501 568 652 665 672 734 849 936 937 1,227
Current Employee Benefit Liabilities		 268 311 323 343 383 451 491 465 597 751 870
Other Current Liabilities		 209 196 745 723 873 301 1,063 325 390 2,384 2,668
Total Noncurrent Liabilities		 650 803 641 613 834 847 827 797 621 624 751
Other Noncurrent Operating Liabilities		 353 394 - 0.00 784 588 581 565 621 624 751
Total Equity & Noncontrolling Interests		 1,480 1,538 1,674 1,741 2,058 2,053 2,253 1,974 2,471 2,939 3,675
Total Preferred & Common Equity		 1,477 1,537 1,673 1,741 2,057 2,053 2,252 1,974 2,470 2,938 3,674
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		 1,477 1,537 1,673 1,741 2,057 2,053 2,252 1,974 2,470 2,938 3,674
Common Stock		 131 53 8.60 22 33 48 62 75 92 98 102
Retained Earnings		 1,433 1,596 1,797 2,060 2,367 2,480 2,836 3,214 3,814 4,778 6,006
Treasury Stock		 -10 -10 -38 -254 -254 -366 -562 -1,223 -1,351 -1,853 -2,432
Accumulated Other Comprehensive Income / (Loss)		 -77 -102 -94 -88 -89 -109 -84 -93 -86 -86 -1.92
Noncontrolling Interest		 3.35 0.85 0.85 0.90 0.65 0.58 0.70 0.70 1.04 1.04 1.04

Quarterly Balance Sheets for EMCOR Group

This table presents EMCOR Group'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		 5,641 5,908 6,224 6,687 7,073 7,322 8,079 8,400 8,640 9,508 10,157
Total Current Assets		 3,562 3,810 4,069 4,508 4,741 5,006 4,911 5,177 5,458 6,074 6,672
Cash & Equivalents		 420 503 524 841 807 1,036 577 486 655 916 924
Accounts Receivable		 2,669 2,852 3,064 3,206 3,459 3,509 3,808 4,115 4,105 4,550 5,098
Inventories, net		 100 106 115 114 104 94 94 108 105 130 154
Prepaid Expenses		 70 59 57 80 77 71 103 120 117 101 95
Other Current Assets		 303 289 309 268 294 297 329 348 314 377 401
Plant, Property, & Equipment, net		 160 163 171 186 201 205 229 242 235 265 279
Total Noncurrent Assets		 1,918 1,935 1,985 1,993 2,131 2,111 2,939 2,982 2,947 3,169 3,207
Goodwill		 923 927 953 957 999 1,002 1,337 1,352 1,359 1,434 1,458
Intangible Assets		 585 574 601 570 662 648 1,097 1,082 1,057 1,090 1,078
Other Noncurrent Operating Assets		 410 433 430 466 470 461 506 548 531 645 671
Total Liabilities & Shareholders' Equity		 5,641 5,908 6,224 6,687 7,073 7,322 8,079 8,400 8,640 9,508 10,157
Total Liabilities		 3,575 3,790 3,944 4,072 4,327 4,563 5,127 5,347 5,304 5,641 6,077
Total Current Liabilities		 2,661 2,949 3,233 3,431 3,673 3,925 4,222 4,395 4,579 4,821 5,225
Short-Term Debt		 16 87 6.48 76 79 80 - 92 96 102 106
Accounts Payable		 724 790 824 865 922 897 1,041 1,118 1,040 1,149 1,251
Current Employee Benefit Liabilities		 386 444 554 478 584 754 601 724 885 710 866
Other Current Liabilities		 1,536 1,629 359 2,013 2,088 2,194 518 2,461 2,422 2,860 3,003
Total Noncurrent Liabilities		 913 840 711 640 654 638 905 952 724 819 852
Other Noncurrent Operating Liabilities		 813 609 614 640 654 638 655 702 724 819 852
Total Equity & Noncontrolling Interests		 2,066 2,118 2,280 2,615 2,746 2,759 2,952 3,054 3,337 3,868 4,080
Total Preferred & Common Equity		 2,066 2,117 2,279 2,614 2,745 2,758 2,950 3,052 3,335 3,867 4,079
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		 2,066 2,117 2,279 2,614 2,745 2,758 2,950 3,052 3,335 3,867 4,079
Common Stock		 76 82 88 88 93 98 94 98 101 95 99
Retained Earnings		 3,319 3,451 3,611 4,003 4,239 4,497 5,007 5,298 5,582 6,293 6,679
Treasury Stock		 -1,239 -1,329 -1,329 -1,391 -1,502 -1,761 -2,072 -2,276 -2,276 -2,520 -2,697
Accumulated Other Comprehensive Income / (Loss)		 -91 -87 -91 -86 -86 -76 -80 -68 -72 -1.92 -1.92
Noncontrolling Interest		 0.70 0.70 1.04 1.04 1.04 1.04 1.97 1.97 1.12 1.04 1.04

Annual Metrics And Ratios for EMCOR Group

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 44,765,864.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 44,765,864.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 28.43
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.57% 12.40% 1.79% 5.77% 12.84% -4.12% 12.58% 11.84% 13.60% 15.76% 16.62%
EBITDA Growth		 -0.85% 7.45% 7.87% 16.10% 13.89% -33.87% 76.29% 4.78% 46.53% 48.84% 28.41%
EBIT Growth		 -0.96% 7.45% 7.16% 22.77% 13.95% -43.82% 105.70% 6.50% 53.66% 53.86% 27.34%
NOPAT Growth		 -3.08% 7.96% 22.68% 23.98% 13.92% -59.28% 184.36% 6.70% 54.77% 54.75% 28.82%
Net Income Growth		 -0.53% 5.59% 24.73% 24.82% 14.66% -59.11% 188.62% 5.84% 55.95% 59.02% 26.38%
EPS Growth		 7.94% 9.19% 28.62% 26.96% 18.56% -58.26% 194.17% 14.73% 64.32% 61.68% 30.99%
Operating Cash Flow Growth		 8.11% -1.61% 39.52% -25.96% 31.25% 126.70% -60.46% 56.18% 80.68% 56.49% -7.52%
Free Cash Flow Firm Growth		 -18.59% -98.05% -3,602.17% 206.12% 292.15% -16.85% -87.29% 556.38% 81.32% 48.08% -71.05%
Invested Capital Growth		 -1.79% 14.45% 25.05% 7.84% -11.93% -19.25% 22.73% 0.79% -4.76% -4.87% 58.43%
Revenue Q/Q Growth		 0.95% 2.33% 0.82% 2.74% 0.37% 0.21% 3.76% 2.88% 4.05% 2.32% 4.57%
EBITDA Q/Q Growth		 2.78% -2.15% -4.94% 16.06% 2.12% 6.70% 1.59% 5.97% 12.96% 7.58% 11.77%
EBIT Q/Q Growth		 3.45% -3.02% -6.67% 20.38% 1.56% 8.98% 1.72% 7.25% 14.52% 8.05% 12.13%
NOPAT Q/Q Growth		 3.53% -4.03% 5.29% 9.55% 1.57% -4.01% 5.97% 6.97% 14.62% 8.28% 13.09%
Net Income Q/Q Growth		 4.38% -5.29% 5.73% 9.57% 1.79% -2.84% 6.05% 6.46% 15.55% 8.70% 12.60%
EPS Q/Q Growth		 5.84% -4.19% 6.70% 9.98% 1.95% 0.00% 6.49% 9.02% 16.75% 9.29% 13.44%
Operating Cash Flow Q/Q Growth		 14.33% -12.55% -1.54% 39.97% -6.89% 11.13% -14.63% 12.34% 22.32% 3.36% 4.40%
Free Cash Flow Firm Q/Q Growth		 -3.77% 135.23% -150.10% 63.95% 34.93% 206.82% -72.49% -22.71% 126.00% 10.44% 66.56%
Invested Capital Q/Q Growth		 -6.03% -6.68% 20.53% 16.59% 8.78% -11.40% -0.15% 8.67% -9.63% -11.35% -3.29%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 14.06% 13.74% 14.92% 14.83% 14.78% 15.86% 15.16% 14.48% 16.60% 18.98% 19.33%
EBITDA Margin		 5.40% 5.16% 5.47% 6.00% 6.06% 4.18% 6.54% 6.13% 7.90% 10.16% 11.19%
Operating Margin		 4.27% 4.06% 4.28% 4.96% 5.02% 2.92% 5.36% 5.10% 6.96% 9.23% 10.09%
EBIT Margin		 4.27% 4.08% 4.30% 4.99% 5.04% 2.95% 5.40% 5.14% 6.95% 9.24% 10.09%
Profit (Net Income) Margin		 2.57% 2.41% 2.96% 3.49% 3.54% 1.51% 3.87% 3.67% 5.03% 6.91% 7.49%
Tax Burden Percent		 61.87% 61.44% 71.28% 71.79% 72.11% 52.69% 72.49% 72.68% 72.56% 73.12% 73.93%
Interest Burden Percent		 97.12% 96.12% 96.43% 97.34% 97.50% 97.12% 99.04% 98.17% 99.80% 102.35% 100.47%
Effective Tax Rate		 38.11% 37.50% 28.45% 27.62% 27.89% 47.31% 27.51% 27.32% 27.44% 26.88% 26.07%
Return on Invested Capital (ROIC)		 13.54% 13.76% 14.06% 15.09% 17.61% 8.47% 24.21% 23.35% 36.88% 59.96% 58.34%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.16% 22.16% 2.15% 11.47% 73.85% 8.99% 24.41% 24.61% 37.30% 57.72% 57.81%
Return on Net Nonoperating Assets (RNNOA)		 -1.69% -1.69% 0.09% 1.52% -0.50% -2.01% -6.39% -4.14% -8.38% -22.72% -19.85%
Return on Equity (ROE)		 11.86% 12.07% 14.15% 16.61% 17.12% 6.47% 17.82% 19.21% 28.50% 37.24% 38.49%
Cash Return on Invested Capital (CROIC)		 15.35% 0.28% -8.21% 7.54% 30.31% 29.77% 3.80% 22.57% 41.75% 64.95% 13.12%
Operating Return on Assets (OROA)		 8.28% 8.34% 8.46% 10.08% 10.37% 5.25% 10.17% 10.38% 14.42% 18.79% 20.15%
Return on Assets (ROA)		 4.98% 4.93% 5.81% 7.04% 7.29% 2.69% 7.30% 7.41% 10.44% 14.06% 14.97%
Return on Common Equity (ROCE)		 11.79% 12.05% 14.14% 16.60% 17.11% 6.47% 17.82% 19.21% 28.48% 37.22% 38.48%
Return on Equity Simple (ROE_SIMPLE)		 11.68% 11.85% 13.58% 16.29% 15.81% 6.48% 17.04% 20.58% 25.64% 34.28% 0.00%
Net Operating Profit after Tax (NOPAT)		 178 192 235 292 332 135 385 411 635 983 1,267
NOPAT Margin		 2.64% 2.54% 3.06% 3.59% 3.62% 1.54% 3.89% 3.71% 5.05% 6.75% 7.46%
Net Nonoperating Expense Percent (NNEP)		 -3.62% -8.40% 11.91% 3.62% -56.24% -0.52% -0.19% -1.25% -0.42% 2.23% 0.53%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 18.48% 25.72% 33.46% 33.56%
Cost of Revenue to Revenue		 85.94% 86.26% 85.08% 85.17% 85.22% 84.14% 84.84% 85.52% 83.40% 81.02% 80.67%
SG&A Expenses to Revenue		 9.77% 9.63% 9.87% 9.83% 9.74% 10.27% 9.80% 9.38% 9.63% 9.75% 10.09%
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		 9.78% 9.68% 10.64% 9.87% 9.75% 12.94% 9.80% 9.38% 9.64% 9.75% 9.24%
Earnings before Interest and Taxes (EBIT)		 287 308 331 406 462 260 534 569 875 1,346 1,714
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 363 390 420 488 556 367 648 679 995 1,480 1,901
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.96 2.70 2.79 1.93 2.31 2.41 2.99 3.55 4.09 7.10 7.45
Price to Tangible Book Value (P/TBV)		 18.02 59.25 21.91 12.83 12.44 8.01 8.70 15.22 10.90 16.42 23.75
Price to Revenue (P/Rev)		 0.43 0.55 0.61 0.41 0.52 0.56 0.68 0.63 0.80 1.43 1.61
Price to Earnings (P/E)		 16.81 22.82 20.57 11.83 14.61 37.21 17.54 17.25 15.96 20.72 21.50
Dividend Yield		 0.69% 0.47% 0.40% 0.55% 0.38% 0.36% 0.41% 0.37% 0.32% 0.21% 0.16%
Earnings Yield		 5.95% 4.38% 4.86% 8.46% 6.85% 2.69% 5.70% 5.80% 6.27% 4.83% 4.65%
Enterprise Value to Invested Capital (EV/IC)		 2.09 2.76 2.61 1.80 2.52 3.03 3.55 3.85 5.54 12.21 9.90
Enterprise Value to Revenue (EV/Rev)		 0.40 0.54 0.63 0.45 0.49 0.49 0.63 0.61 0.74 1.34 1.55
Enterprise Value to EBITDA (EV/EBITDA)		 7.50 10.53 11.57 7.42 8.02 11.76 9.61 10.02 9.36 13.19 13.87
Enterprise Value to EBIT (EV/EBIT)		 9.47 13.30 14.70 8.92 9.64 16.63 11.65 11.95 10.65 14.51 15.38
Enterprise Value to NOPAT (EV/NOPAT)		 15.31 21.38 20.66 12.41 13.42 31.93 16.18 16.56 14.66 19.86 20.81
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.20 15.63 13.28 13.36 12.54 5.36 19.53 13.65 10.35 13.87 20.24
Enterprise Value to Free Cash Flow (EV/FCFF)		 13.51 1,045.52 0.00 24.82 7.80 9.09 102.98 17.14 12.95 18.33 92.52
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.21 0.28 0.39 0.36 0.03 0.13 0.14 0.13 0.00 0.00 0.03
Long-Term Debt to Equity		 0.20 0.27 0.38 0.35 0.02 0.13 0.11 0.12 0.00 0.00 0.00
Financial Leverage		 -0.10 -0.08 0.04 0.13 -0.01 -0.22 -0.26 -0.17 -0.22 -0.39 -0.34
Leverage Ratio		 2.38 2.45 2.43 2.36 2.35 2.41 2.44 2.59 2.73 2.65 2.57
Compound Leverage Factor		 2.31 2.36 2.35 2.30 2.29 2.34 2.42 2.55 2.72 2.71 2.58
Debt to Total Capital		 17.55% 21.58% 28.16% 26.53% 3.20% 11.87% 12.42% 11.13% 0.00% 0.00% 2.63%
Short-Term Debt to Total Capital		 0.98% 0.77% 0.66% 0.68% 0.85% 0.73% 2.88% 0.70% 0.00% 0.00% 2.63%
Long-Term Debt to Total Capital		 16.58% 20.82% 27.50% 25.86% 2.35% 11.14% 9.54% 10.43% 0.00% 0.00% 0.00%
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		 0.19% 0.04% 0.04% 0.04% 0.03% 0.02% 0.03% 0.03% 0.04% 0.04% 0.03%
Common Equity to Total Capital		 82.26% 78.37% 71.80% 73.43% 96.77% 88.11% 87.55% 88.84% 99.96% 99.96% 97.34%
Debt to EBITDA		 0.87 1.09 1.56 1.29 0.12 0.75 0.49 0.36 0.00 0.00 0.05
Net Debt to EBITDA		 -0.50 -0.13 0.44 0.54 -0.52 -1.70 -0.77 -0.31 0.00 0.00 -0.53
Long-Term Debt to EBITDA		 0.82 1.05 1.52 1.26 0.09 0.71 0.38 0.34 0.00 0.00 0.00
Debt to NOPAT		 1.77 2.21 2.79 2.16 0.20 2.04 0.83 0.60 0.00 0.00 0.08
Net Debt to NOPAT		 -1.01 -0.26 0.79 0.91 -0.87 -4.63 -1.30 -0.51 0.00 0.00 -0.80
Long-Term Debt to NOPAT		 1.67 2.13 2.72 2.10 0.15 1.92 0.64 0.56 0.00 0.00 0.00
Altman Z-Score		 3.79 4.09 4.26 4.07 4.11 3.81 4.37 4.50 4.78 6.14 6.40
Noncontrolling Interest Sharing Ratio		 0.57% 0.14% 0.05% 0.05% 0.04% 0.03% 0.03% 0.03% 0.04% 0.04% 0.03%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.46 1.43 1.38 1.38 1.37 1.44 1.44 1.26 1.26 1.30 1.22
Quick Ratio		 1.31 1.30 1.26 1.23 1.23 1.31 1.28 1.10 1.14 1.18 1.10
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 201 3.92 -137 146 572 475 60 397 719 1,065 285
Operating Cash Flow to CapEx		 843.53% 697.33% 1,193.51% 641.57% 828.27% 1,811.81% 953.46% 1,181.50% 1,388.36% 1,979.85% 1,204.47%
Free Cash Flow to Firm to Interest Expense		 22.54 0.31 -10.76 10.77 41.37 52.78 9.96 30.06 41.83 281.90 23.70
Operating Cash Flow to Interest Expense		 29.86 20.78 28.66 20.01 25.74 89.51 52.51 37.73 52.31 372.56 108.32
Operating Cash Flow Less CapEx to Interest Expense		 26.32 17.80 26.26 16.89 22.63 84.57 47.01 34.53 48.54 353.74 99.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.94 2.04 1.97 2.02 2.06 1.78 1.89 2.02 2.07 2.03 2.00
Accounts Receivable Turnover		 5.18 5.29 4.95 4.81 4.82 4.45 4.80 4.64 4.36 4.30 4.35
Inventory Turnover		 136.83 173.76 163.19 162.86 188.93 157.85 156.41 135.57 106.85 114.33 123.50
Fixed Asset Turnover		 55.03 60.42 60.26 62.18 63.16 55.92 63.79 71.49 74.63 75.30 73.73
Accounts Payable Turnover		 12.17 13.17 12.24 11.35 11.87 11.07 11.95 11.96 11.76 12.60 12.66
Days Sales Outstanding (DSO)		 70.46 69.00 73.68 75.90 75.68 82.01 76.04 78.63 83.70 84.96 84.00
Days Inventory Outstanding (DIO)		 2.67 2.10 2.24 2.24 1.93 2.31 2.33 2.69 3.42 3.19 2.96
Days Payable Outstanding (DPO)		 29.99 27.72 29.83 32.15 30.75 32.97 30.54 30.51 31.05 28.97 28.83
Cash Conversion Cycle (CCC)		 43.14 43.38 46.08 45.99 46.86 51.34 47.83 50.81 56.07 59.19 58.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,300 1,488 1,861 2,007 1,767 1,427 1,751 1,765 1,681 1,599 2,662
Invested Capital Turnover		 5.12 5.42 4.59 4.21 4.86 5.51 6.23 6.30 7.30 8.88 7.82
Increase / (Decrease) in Invested Capital		 -24 188 373 146 -239 -340 324 14 -84 -82 982
Enterprise Value (EV)		 2,719 4,102 4,861 3,619 4,460 4,321 6,225 6,799 9,313 19,531 26,359
Market Capitalization		 2,896 4,151 4,673 3,353 4,750 4,947 6,726 7,008 10,102 20,870 27,371
Book Value per Share		 $23.54 $25.35 $28.45 $30.24 $36.63 $37.37 $42.20 $41.41 $52.50 $63.86 $82.07
Tangible Book Value per Share		 $2.56 $1.16 $3.63 $4.54 $6.80 $11.25 $14.48 $9.66 $19.71 $27.63 $25.75
Total Capital		 1,795 1,961 2,330 2,370 2,126 2,330 2,573 2,221 2,471 2,939 3,774
Total Debt		 315 423 656 629 68 277 319 247 0.00 0.00 99
Total Long-Term Debt		 298 408 641 613 50 260 245 232 0.00 0.00 0.00
Net Debt		 -180 -50 186 265 -291 -626 -502 -209 -790 -1,340 -1,013
Capital Expenditures (CapEx)		 32 38 31 42 43 45 33 42 65 71 108
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 184 208 181 304 381 72 282 268 139 -104 60
Debt-free Net Working Capital (DFNWC)		 671 672 649 668 739 975 1,103 724 929 1,235 1,172
Net Working Capital (NWC)		 654 657 634 652 721 958 1,029 708 929 1,235 1,072
Net Nonoperating Expense (NNE)		 5.17 9.66 8.12 8.18 7.21 2.38 1.09 4.45 2.11 -24 -6.07
Net Nonoperating Obligations (NNO)		 -180 -50 186 265 -291 -626 -502 -209 -790 -1,340 -1,013
Total Depreciation and Amortization (D&A)		 75 81 90 82 93 108 113 110 120 135 187
Debt-free, Cash-free Net Working Capital to Revenue		 2.74% 2.75% 2.36% 3.74% 4.15% 0.82% 2.85% 2.42% 1.10% -0.72% 0.35%
Debt-free Net Working Capital to Revenue		 9.99% 8.90% 8.44% 8.21% 8.06% 11.08% 11.14% 6.54% 7.38% 8.48% 6.90%
Net Working Capital to Revenue		 9.73% 8.70% 8.24% 8.02% 7.86% 10.89% 10.39% 6.40% 7.38% 8.48% 6.31%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.74 $3.00 $3.84 $4.88 $5.78 $2.41 $7.09 $8.13 $13.37 $21.61 $28.30
Adjusted Weighted Average Basic Shares Outstanding		 60.66M 59.66M 58.37M 56.00M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
Adjusted Diluted Earnings per Share		 $2.72 $2.97 $3.82 $4.85 $5.75 $2.40 $7.06 $8.10 $13.31 $21.52 $28.19
Adjusted Weighted Average Diluted Shares Outstanding		 60.66M 59.66M 58.37M 56.00M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
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		 60.66M 59.66M 58.37M 56.00M 56.26M 109.59M 52.67M 47.69M 47.06M 45.47M 44.53M
Normalized Net Operating Profit after Tax (NOPAT)		 178 194 278 294 333 259 385 411 637 983 1,267
Normalized NOPAT Margin		 2.65% 2.57% 3.61% 3.62% 3.63% 2.95% 3.89% 3.71% 5.06% 6.75% 7.46%
Pre Tax Income Margin		 4.15% 3.93% 4.15% 4.86% 4.91% 2.87% 5.34% 5.04% 6.94% 9.46% 10.14%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 32.14 24.43 25.89 29.96 33.46 28.84 88.03 43.12 50.85 356.11 142.56
NOPAT to Interest Expense		 19.89 15.19 18.43 21.54 24.05 15.02 63.38 31.11 36.95 260.22 105.39
EBIT Less CapEx to Interest Expense		 28.60 21.45 23.48 26.84 30.35 23.90 82.52 39.93 47.09 337.30 133.57
NOPAT Less CapEx to Interest Expense		 16.35 12.21 16.03 18.42 20.94 10.08 57.87 27.91 33.18 241.40 96.39
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 17.59% 12.17% 8.35% 6.57% 5.60% 13.35% 7.35% 6.69% 5.16% 4.31% 3.61%
Augmented Payout Ratio		 78.07% 63.89% 49.36% 82.83% 5.60% 98.01% 58.31% 169.36% 25.33% 52.94% 49.67%

Quarterly Metrics And Ratios for EMCOR Group

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 44,765,864.00 44,532,566.00 44,440,278.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 44,765,864.00 44,532,566.00 44,440,278.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 9.71 6.86 9.08
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.59% 18.75% 20.40% 15.26% 9.62% 12.68% 17.39% 16.35% 19.71% 19.67% 19.76%
EBITDA Growth		 55.90% 57.87% 62.85% 50.31% 32.17% 24.58% 25.77% 13.86% 47.07% 26.52% 30.24%
EBIT Growth		 63.22% 67.81% 69.47% 54.99% 34.36% 22.62% 24.69% 11.53% 47.66% 26.67% 31.80%
NOPAT Growth		 63.03% 69.40% 70.19% 55.31% 35.89% 23.61% 25.33% 11.34% 51.47% 27.13% 31.54%
Net Income Growth		 67.47% 76.86% 76.09% 59.22% 38.13% 22.08% 22.05% 9.29% 48.76% 26.93% 33.60%
EPS Growth		 74.61% 79.74% 77.97% 62.47% 40.94% 26.14% 28.00% 13.28% 53.02% 30.04% 34.82%
Operating Cash Flow Growth		 63.25% 256.37% -6.62% 101.73% 10.79% -17.99% -30.75% -9.68% 11.70% -99.49% 49.39%
Free Cash Flow Firm Growth		 155.77% -56.06% -1.07% 585.35% 24.92% -623.54% -469.81% -304.36% -292.69% 76.33% 108.32%
Invested Capital Growth		 -4.76% 5.03% 4.34% -3.04% -4.87% 41.87% 44.25% 52.61% 58.43% 16.31% 12.09%
Revenue Q/Q Growth		 7.22% -0.20% 6.84% 0.82% 1.98% 2.58% 11.30% -0.07% 4.92% 2.55% 11.38%
EBITDA Q/Q Growth		 21.27% -9.90% 26.77% 8.52% 6.63% -15.07% 28.06% -1.82% 37.73% -26.93% 31.81%
EBIT Q/Q Growth		 23.22% -10.11% 28.03% 9.30% 6.82% -17.97% 30.28% -2.30% 41.42% -29.61% 35.53%
NOPAT Q/Q Growth		 23.32% -8.70% 26.91% 8.69% 7.90% -16.94% 28.68% -3.45% 46.79% -30.29% 33.14%
Net Income Q/Q Growth		 24.61% -6.79% 25.58% 9.17% 8.10% -17.62% 25.55% -2.25% 47.14% -29.71% 32.15%
EPS Q/Q Growth		 25.21% -6.71% 25.90% 10.48% 8.62% -16.51% 27.76% -2.23% 46.73% -29.05% 32.46%
Operating Cash Flow Q/Q Growth		 62.38% -68.79% 111.47% 88.22% -10.82% -76.90% 78.56% 145.50% 10.28% -99.89% 51,755.73%
Free Cash Flow Firm Q/Q Growth		 544.64% -52.93% 54.70% 101.56% 14.45% -246.71% -9.27% -11.39% 15.99% 76.85% 138.39%
Invested Capital Q/Q Growth		 -9.63% 5.36% 9.00% -10.57% -11.35% 64.16% 10.83% -5.39% -3.29% 14.70% 6.80%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 17.96% 17.17% 18.65% 19.87% 20.08% 18.69% 19.37% 19.42% 19.75% 18.67% 19.83%
EBITDA Margin		 9.34% 8.44% 10.01% 10.77% 11.27% 9.33% 10.73% 10.54% 13.84% 9.86% 11.67%
Operating Margin		 8.41% 7.57% 9.08% 9.83% 10.31% 8.24% 9.65% 9.43% 12.71% 8.73% 10.62%
EBIT Margin		 8.41% 7.57% 9.08% 9.84% 10.31% 8.24% 9.65% 9.43% 12.71% 8.73% 10.62%
Profit (Net Income) Margin		 6.15% 5.74% 6.75% 7.31% 7.75% 6.22% 7.02% 6.87% 9.63% 6.60% 7.83%
Tax Burden Percent		 72.50% 73.64% 73.00% 72.64% 73.32% 74.24% 73.34% 72.47% 75.22% 74.50% 73.18%
Interest Burden Percent		 100.88% 102.99% 101.90% 102.29% 102.55% 101.71% 99.22% 100.47% 100.71% 101.54% 100.79%
Effective Tax Rate		 27.50% 26.36% 27.00% 27.36% 26.68% 25.76% 26.67% 27.53% 24.78% 25.50% 26.82%
Return on Invested Capital (ROIC)		 44.52% 40.53% 46.11% 55.50% 67.12% 41.02% 44.91% 48.73% 74.81% 40.63% 46.83%
ROIC Less NNEP Spread (ROIC-NNEP)		 44.15% 39.46% 45.10% 54.60% 66.44% 40.28% 45.45% 48.55% 74.54% 39.82% 46.18%
Return on Net Nonoperating Assets (RNNOA)		 -9.92% -9.01% -8.47% -14.90% -26.15% -7.90% -6.84% -12.26% -25.60% -6.66% -6.23%
Return on Equity (ROE)		 34.60% 31.52% 37.64% 40.60% 40.97% 33.12% 38.07% 36.47% 49.21% 33.97% 40.60%
Cash Return on Invested Capital (CROIC)		 41.75% 34.62% 36.97% 52.65% 64.95% 11.34% 8.02% 7.51% 13.12% 31.79% 34.85%
Operating Return on Assets (OROA)		 17.44% 16.13% 19.22% 20.68% 20.96% 16.75% 19.50% 19.20% 25.39% 17.61% 21.28%
Return on Assets (ROA)		 12.75% 12.23% 14.30% 15.36% 15.76% 12.64% 14.19% 13.98% 19.24% 13.32% 15.70%
Return on Common Equity (ROCE)		 34.58% 31.50% 37.63% 40.59% 40.95% 33.10% 38.05% 36.46% 49.20% 33.95% 40.59%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 27.50% 30.10% 33.59% 0.00% 35.62% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 210 191 243 264 285 237 304 294 432 301 401
NOPAT Margin		 6.10% 5.58% 6.63% 7.14% 7.56% 6.12% 7.07% 6.83% 9.56% 6.50% 7.77%
Net Nonoperating Expense Percent (NNEP)		 0.37% 1.07% 1.01% 0.90% 0.68% 0.74% -0.54% 0.18% 0.27% 0.81% 0.66%
Return On Investment Capital (ROIC_SIMPLE)		 8.49% - - - 9.70% 7.39% 8.97% 8.57% 11.43% 7.58% 9.57%
Cost of Revenue to Revenue		 82.04% 82.83% 81.35% 80.13% 79.92% 81.31% 80.63% 80.58% 80.25% 81.33% 80.17%
SG&A Expenses to Revenue		 9.55% 9.60% 9.58% 10.04% 9.77% 10.45% 9.72% 9.99% 10.24% 9.94% 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		 9.55% 9.60% 9.58% 10.04% 9.77% 10.45% 9.72% 9.99% 7.03% 9.94% 9.22%
Earnings before Interest and Taxes (EBIT)		 289 260 333 364 389 319 415 406 574 404 547
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 321 290 367 398 425 361 462 453 625 456 602
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.09 6.29 6.25 7.28 7.10 5.69 7.84 8.71 7.45 8.50 9.04
Price to Tangible Book Value (P/TBV)		 10.90 15.12 15.82 18.12 16.42 32.52 38.74 31.62 23.75 24.47 23.89
Price to Revenue (P/Rev)		 0.80 1.25 1.25 1.41 1.43 1.12 1.53 1.79 1.61 1.85 1.98
Price to Earnings (P/E)		 15.96 22.89 20.77 21.67 20.72 15.99 21.65 25.71 21.50 24.57 25.61
Dividend Yield		 0.32% 0.21% 0.22% 0.20% 0.21% 0.27% 0.19% 0.15% 0.16% 0.16% 0.16%
Earnings Yield		 6.27% 4.37% 4.82% 4.61% 4.83% 6.26% 4.62% 3.89% 4.65% 4.07% 3.90%
Enterprise Value to Invested Capital (EV/IC)		 5.54 8.48 8.14 10.60 12.21 6.27 8.18 10.36 9.90 10.50 11.05
Enterprise Value to Revenue (EV/Rev)		 0.74 1.20 1.19 1.34 1.34 1.10 1.52 1.76 1.55 1.81 1.94
Enterprise Value to EBITDA (EV/EBITDA)		 9.36 14.24 13.21 13.90 13.19 10.62 14.46 16.76 13.87 16.05 16.87
Enterprise Value to EBIT (EV/EBIT)		 10.65 16.00 14.70 15.35 14.51 11.74 16.01 18.65 15.38 17.82 18.67
Enterprise Value to NOPAT (EV/NOPAT)		 14.66 21.97 20.17 21.06 19.86 16.02 21.82 25.45 20.81 24.08 25.26
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.35 14.05 14.97 14.04 13.87 11.90 18.33 22.86 20.24 26.84 27.94
Enterprise Value to Free Cash Flow (EV/FCFF)		 12.95 25.09 22.49 19.82 18.33 64.92 120.43 166.65 92.52 35.50 33.52
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.03 0.03 0.03 0.00 0.08 0.11 0.03 0.03 0.03 0.03
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.08 0.08 0.00 0.00 0.00 0.00
Financial Leverage		 -0.22 -0.23 -0.19 -0.27 -0.39 -0.20 -0.15 -0.25 -0.34 -0.17 -0.14
Leverage Ratio		 2.73 2.63 2.67 2.69 2.65 2.65 2.67 2.62 2.57 2.58 2.60
Compound Leverage Factor		 2.75 2.71 2.72 2.75 2.72 2.70 2.65 2.63 2.59 2.62 2.62
Debt to Total Capital		 0.00% 2.82% 2.79% 2.83% 0.00% 7.81% 10.07% 2.79% 2.63% 2.58% 2.52%
Short-Term Debt to Total Capital		 0.00% 2.82% 2.79% 2.83% 0.00% 0.00% 2.71% 2.79% 2.63% 2.58% 2.52%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 7.81% 7.36% 0.00% 0.00% 0.00% 0.00%
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		 0.04% 0.04% 0.04% 0.04% 0.04% 0.06% 0.06% 0.03% 0.03% 0.03% 0.02%
Common Equity to Total Capital		 99.96% 97.14% 97.18% 97.14% 99.96% 92.13% 89.87% 97.18% 97.34% 97.40% 97.45%
Debt to EBITDA		 0.00 0.07 0.06 0.06 0.00 0.16 0.21 0.06 0.05 0.05 0.05
Net Debt to EBITDA		 0.00 -0.69 -0.59 -0.69 0.00 -0.21 -0.09 -0.33 -0.53 -0.41 -0.38
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.16 0.15 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.11 0.10 0.09 0.00 0.24 0.31 0.09 0.08 0.08 0.07
Net Debt to NOPAT		 0.00 -1.07 -0.89 -1.05 0.00 -0.32 -0.13 -0.50 -0.80 -0.61 -0.57
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.24 0.23 0.00 0.00 0.00 0.00
Altman Z-Score		 4.49 5.55 5.50 5.79 5.73 4.92 5.70 6.35 6.00 6.59 6.74
Noncontrolling Interest Sharing Ratio		 0.04% 0.04% 0.04% 0.04% 0.04% 0.05% 0.05% 0.04% 0.03% 0.04% 0.04%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.26 1.31 1.29 1.28 1.30 1.16 1.18 1.19 1.22 1.26 1.28
Quick Ratio		 1.14 1.18 1.16 1.16 1.18 1.04 1.05 1.04 1.10 1.13 1.15
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 294 103 159 321 367 -538 -588 -655 -550 -127 49
Operating Cash Flow to CapEx		 2,066.21% 683.92% 1,509.00% 3,170.39% 2,822.82% 437.44% 722.96% 1,854.89% 1,698.20% 1.99% 973.34%
Free Cash Flow to Firm to Interest Expense		 23.33 0.00 0.00 0.00 14.25 0.00 -181.50 0.00 -34.38 0.00 0.00
Operating Cash Flow to Interest Expense		 33.67 0.00 0.00 0.00 18.24 0.00 59.78 0.00 32.77 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 32.04 0.00 0.00 0.00 17.60 0.00 51.51 0.00 30.84 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.07 2.13 2.12 2.10 2.03 2.03 2.02 2.04 2.00 2.02 2.00
Accounts Receivable Turnover		 4.36 4.47 4.36 4.33 4.30 4.28 4.13 4.27 4.35 4.25 4.04
Inventory Turnover		 106.85 101.63 107.72 110.60 114.33 116.44 118.75 131.02 123.50 127.69 114.46
Fixed Asset Turnover		 74.63 75.68 75.58 75.87 75.30 72.23 70.59 73.83 73.73 71.90 71.45
Accounts Payable Turnover		 11.76 13.70 13.21 13.49 12.60 12.70 12.35 13.52 12.66 13.08 12.65
Days Sales Outstanding (DSO)		 83.70 81.70 83.79 84.27 84.96 85.33 88.39 85.55 84.00 85.95 90.41
Days Inventory Outstanding (DIO)		 3.42 3.59 3.39 3.30 3.19 3.13 3.07 2.79 2.96 2.86 3.19
Days Payable Outstanding (DPO)		 31.05 26.65 27.63 27.06 28.97 28.75 29.57 26.99 28.83 27.91 28.84
Cash Conversion Cycle (CCC)		 56.07 58.64 59.55 60.51 59.19 59.72 61.90 61.34 58.13 60.90 64.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,681 1,850 2,017 1,804 1,599 2,625 2,910 2,753 2,662 3,053 3,261
Invested Capital Turnover		 7.30 7.27 6.96 7.77 8.88 6.70 6.35 7.13 7.82 6.25 6.03
Increase / (Decrease) in Invested Capital		 -84 89 84 -56 -82 775 893 949 982 428 352
Enterprise Value (EV)		 9,313 15,688 16,418 19,122 19,531 16,472 23,788 28,507 26,359 32,049 36,043
Market Capitalization		 10,102 16,452 17,146 20,076 20,870 16,797 23,930 29,065 27,371 32,862 36,861
Book Value per Share		 $52.50 $55.63 $58.40 $59.11 $63.86 $64.87 $68.18 $74.51 $82.07 $86.83 $91.78
Tangible Book Value per Share		 $19.71 $23.15 $23.07 $23.74 $27.63 $11.36 $13.80 $20.53 $25.75 $30.15 $34.72
Total Capital		 2,471 2,691 2,824 2,839 2,939 3,202 3,396 3,432 3,774 3,970 4,186
Total Debt		 0.00 76 79 80 0.00 250 342 96 99 102 106
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 250 250 0.00 0.00 0.00 0.00
Net Debt		 -790 -765 -729 -955 -1,340 -327 -144 -559 -1,013 -814 -819
Capital Expenditures (CapEx)		 21 19 19 17 17 25 27 26 31 28 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 139 312 339 126 -104 112 388 319 60 439 628
Debt-free Net Working Capital (DFNWC)		 929 1,153 1,146 1,161 1,235 689 874 974 1,172 1,355 1,552
Net Working Capital (NWC)		 929 1,077 1,068 1,081 1,235 689 782 878 1,072 1,253 1,447
Net Nonoperating Expense (NNE)		 -1.85 -5.72 -4.62 -6.20 -7.25 -4.04 2.34 -1.37 -3.05 -4.64 -3.16
Net Nonoperating Obligations (NNO)		 -790 -765 -729 -955 -1,340 -327 -144 -584 -1,013 -814 -819
Total Depreciation and Amortization (D&A)		 32 30 34 35 36 42 47 48 51 53 54
Debt-free, Cash-free Net Working Capital to Revenue		 1.10% 2.37% 2.47% 0.88% -0.72% 0.75% 2.48% 1.96% 0.35% 2.47% 3.38%
Debt-free Net Working Capital to Revenue		 7.38% 8.78% 8.34% 8.16% 8.48% 4.59% 5.59% 6.00% 6.90% 7.64% 8.35%
Net Working Capital to Revenue		 7.38% 8.20% 7.77% 7.60% 8.48% 4.59% 5.00% 5.41% 6.31% 7.06% 7.78%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.48 $4.18 $5.27 $5.83 $6.33 $5.27 $6.74 $6.59 $9.70 $6.85 $9.09
Adjusted Weighted Average Basic Shares Outstanding		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
Adjusted Diluted Earnings per Share		 $4.47 $4.17 $5.25 $5.80 $6.30 $5.26 $6.72 $6.57 $9.64 $6.84 $9.06
Adjusted Weighted Average Diluted Shares Outstanding		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
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		 47.06M 47.00M 46.66M 46.00M 45.47M 44.76M 44.76M 44.77M 44.53M 44.44M 44.11M
Normalized Net Operating Profit after Tax (NOPAT)		 210 191 243 264 285 237 304 294 432 301 401
Normalized NOPAT Margin		 6.10% 5.58% 6.63% 7.14% 7.56% 6.12% 7.07% 6.83% 9.56% 6.50% 7.77%
Pre Tax Income Margin		 8.48% 7.80% 9.25% 10.06% 10.57% 8.38% 9.57% 9.48% 12.80% 8.86% 10.70%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 22.98 0.00 0.00 0.00 15.10 0.00 128.17 0.00 35.85 0.00 0.00
NOPAT to Interest Expense		 16.66 0.00 0.00 0.00 11.07 0.00 93.98 0.00 26.96 0.00 0.00
EBIT Less CapEx to Interest Expense		 21.35 0.00 0.00 0.00 14.45 0.00 119.90 0.00 33.92 0.00 0.00
NOPAT Less CapEx to Interest Expense		 15.03 0.00 0.00 0.00 10.42 0.00 85.71 0.00 25.03 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 5.16% 4.73% 4.50% 4.36% 4.31% 4.41% 4.14% 4.09% 3.61% 3.91% 4.09%
Augmented Payout Ratio		 25.33% 25.69% 25.26% 50.54% 52.94% 68.72% 74.08% 49.78% 49.67% 37.44% 33.46%

Financials Breakdown Chart

Key Financial Trends

EMCOR Group (NYSE: EME) continues to show strong top-line growth, solid profitability, and a very active capital allocation strategy, but cash flow was unusually weak in Q1 2026 because of working-capital pressure and acquisition spending.

Looking across the last four years, EMCOR has built a clear pattern of expansion: revenue, earnings, equity, and balance-sheet size have all increased meaningfully. At the same time, the company has relied on acquisitions and buybacks, which has helped growth but also kept debt, goodwill, and intangible assets elevated.

  • Revenue remained on a strong upward trend, rising to $4.63 billion in Q1 2026 from $3.43 billion in Q1 2024, showing continued demand and scale gains.
  • Profitability improved materially over the period, with Q1 2026 net income of $305.5 million versus $197.1 million in Q1 2024.
  • Operating income also increased sharply, reaching $403.8 million in Q1 2026 from $260.0 million in Q1 2024.
  • Gross margin appears to have stayed resilient, with gross profit climbing to $864.0 million in Q1 2026 from $589.3 million in Q1 2024.
  • Earnings per share improved strongly, with Q1 2026 EPS of $6.84 compared with $4.17 in Q1 2024, helped by better operating performance and a lower share count.
  • The company has consistently generated meaningful quarterly operating cash flow over time, including $524.4 million in Q4 2025 and $475.5 million in Q3 2025, showing underlying cash generation can be strong.
  • Retained earnings have expanded significantly to $6.29 billion in Q1 2026, reflecting years of accumulated profitability.
  • EMCOR continues to return cash to shareholders through dividends and buybacks, but share repurchases have also been a major use of cash and can limit balance-sheet flexibility.
  • Balance-sheet size expanded sharply, with total assets rising to $9.51 billion in Q1 2026 from $6.69 billion in Q1 2024, mainly due to acquisitions and business growth.
  • Goodwill and intangible assets remain large at a combined $2.52 billion, so a sizable portion of the asset base is acquisition-related and could be vulnerable if acquired businesses underperform.
  • Q1 2026 operating cash flow was nearly flat at only $0.6 million, down sharply from prior periods, because working capital absorbed $361.8 million.
  • The company spent heavily on acquisitions in Q1 2026, including $43.7 million of acquisition cash outflow, after even larger acquisition spending in prior quarters.
  • Cash and equivalents fell to $916.4 million at Q1 2026 from $1.04 billion at Q3 2024, despite the business still being profitable.
  • Debt remains present on the balance sheet, including $102.3 million of short-term debt and $819.0 million of other noncurrent liabilities in Q1 2026.
  • Current liabilities increased to $4.82 billion in Q1 2026, a level that investors should monitor even though the company’s current assets also remain substantial.

Bottom line: EMCOR’s multi-year trend is still fundamentally positive, with strong revenue growth and excellent earnings momentum. The main watch item is cash conversion: profits have been growing faster than operating cash flow in the latest quarter because of working-capital swings and acquisition activity. If working capital normalizes, the company’s earnings power looks strong; if not, cash generation may remain choppy despite healthy reported profits.

08/15/26 01:41 PM ETAI Generated. May Contain Errors.

EMCOR Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, EMCOR Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

EMCOR Group's net income appears to be on an upward trend, with a most recent value of $1.27 billion in 2025, rising from $172.51 million in 2015. The previous period was $1.01 billion in 2024. Check out EMCOR Group's forecast to explore projected trends and price targets.

EMCOR Group's total operating income in 2025 was $1.71 billion, based on the following breakdown:
  • Total Gross Profit: $3.28 billion
  • Total Operating Expenses: $1.57 billion

Over the last 10 years, EMCOR Group's total revenue changed from $6.72 billion in 2015 to $16.99 billion in 2025, a change of 152.8%.

EMCOR Group's total liabilities were at $5.62 billion at the end of 2025, a 17.6% increase from 2024, and a 172.3% increase since 2015.

In the past 10 years, EMCOR Group's cash and equivalents has ranged from $358.82 million in 2019 to $1.34 billion in 2024, and is currently $1.11 billion as of their latest financial filing in 2025.

Over the last 10 years, EMCOR Group's book value per share changed from 23.54 in 2015 to 82.07 in 2025, a change of 248.6%.


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Financial statements for NYSE:EME last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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