NYSE : EME
EMCOR Group, Inc. — Financial statements
Industrials · Engineering & Construction · United States
Last price 679.55 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 29.75B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
EMCOR Group, Inc. (EME) reported revenue of 19.84B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 19.84B | 16.99B | 14.57B | 12.58B | 11.08B | 9.90B |
| Cost of Revenue | 15.95B | 13.70B | 11.80B | 10.49B | 9.47B | 8.40B |
| Gross Profit | 3.89B | 3.28B | 2.77B | 2.09B | 1.60B | 1.50B |
| Selling, General & Admin | 1.89B | 1.68B | 1.42B | 1.21B | 1.03B | 967.31M |
| Amortization of Goodwill & Intangibles | 34.40M | 22.50M | ||||
| Operating Expenses | 1.93B | 1.70B | 1.42B | 1.21B | 1.03B | 967.31M |
| Operating Income | 1.96B | 1.58B | 1.35B | 876.99M | 569.19M | 534.42M |
| Interest Expense | -12.02M | -12.02M | -3.78M | -17.20M | -13.20M | -6.07M |
| Interest & Investment Income | 30.34M | 20.02M | 35.40M | 15.41M | 2.76M | 949.00K |
| EBT Excluding Unusual Items | 1.98B | 1.59B | 1.38B | 875.20M | 558.75M | 529.30M |
| Merger & Restructuring Charges | -9.40M | |||||
| Gain (Loss) on Sale of Assets | 144.88M | 144.88M | ||||
| Asset Writedown | -34.00M | -2.35M | ||||
| Pretax Income | 2.09B | 1.72B | 1.38B | 872.85M | 558.75M | 529.30M |
| Income Tax Expense | 545.39M | 448.81M | 370.24M | 239.52M | 152.63M | 145.60M |
| Earnings From Continuing Operations | 1.54B | 1.27B | 1.01B | 633.33M | 406.12M | 383.70M |
| Net Income to Company | 1.54B | 1.27B | 1.01B | 633.33M | 406.12M | 383.70M |
| Minority Interest in Earnings | -335.00K | -169.00K | ||||
| Net Income | 1.54B | 1.27B | 1.01B | 632.99M | 406.12M | 383.53M |
| Net Income to Common | 1.54B | 1.27B | 1.01B | 632.99M | 406.12M | 383.53M |
| Shares Outstanding (Basic) | 44.45M | 44.98M | 46.62M | 47.36M | 49.93M | 54.07M |
| Shares Outstanding (Diluted) | 44.59M | 45.15M | 46.81M | 47.56M | 50.14M | 54.35M |
| EPS (Basic) | 34.73 | 28.30 | 21.61 | 13.37 | 8.13 | 7.09 |
| EPS (Diluted) | 34.62 | 28.19 | 21.52 | 13.31 | 8.10 | 7.06 |
| Free Cash Flow | 1.48B | 1.19B | 1.33B | 821.25M | 448.64M | 282.62M |
| Free Cash Flow Per Share | 33.24 | 26.34 | 28.48 | 17.27 | 8.95 | 5.20 |
| Dividend Per Share | 0.40 | 1.15 | 1.00 | 0.72 | 0.56 | 0.52 |
| Gross Margin | 19.59% | 19.33% | 18.98% | 16.61% | 14.48% | 15.16% |
| Operating Margin | 9.88% | 9.29% | 9.24% | 6.97% | 5.14% | 5.40% |
| Profit Margin | 7.78% | 7.49% | 6.91% | 5.03% | 3.67% | 3.87% |
| Free Cash Flow Margin | 7.47% | 7.00% | 9.15% | 6.53% | 4.05% | 2.85% |
| EBITDA | 2.17B | 1.76B | 1.48B | 995.95M | 677.80M | 646.86M |
| EBITDA Margin | 10.96% | 10.39% | 10.16% | 7.92% | 6.12% | 6.53% |
| D&A For EBITDA | 214.15M | 186.42M | 133.68M | 118.97M | 108.61M | 112.44M |
| EBIT | 1.96B | 1.58B | 1.35B | 876.99M | 569.19M | 534.42M |
| EBIT Margin | 9.88% | 9.29% | 9.24% | 6.97% | 5.14% | 5.40% |
| Effective Tax Rate | 26.11% | 26.07% | 26.88% | 27.44% | 27.32% | 27.51% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 774.75M | 1.11B | 1.34B | 789.75M | 456.44M | 821.35M |
| Cash & Short-Term Investments | 774.75M | 1.11B | 1.34B | 789.75M | 456.44M | 821.35M |
| Accounts Receivable | 5.99B | 4.58B | 3.86B | 3.47B | 2.84B | 2.43B |
| Other Receivables | 19.80M | 15.50M | 9.20M | 11.90M | 16.00M | 26.40M |
| Receivables | 6.01B | 4.59B | 3.87B | 3.49B | 2.86B | 2.46B |
| Inventory | 194.55M | 126.25M | 95.67M | 110.77M | 85.64M | 54.10M |
| Prepaid Expenses | 86.47M | 104.73M | 81.64M | 61.17M | 62.72M | 53.27M |
| Restricted Cash | 800.00K | 629.00K | 1.22M | |||
| Total Current Assets | 7.07B | 5.94B | 5.39B | 4.45B | 3.46B | 3.39B |
| Property, Plant & Equipment | 829.36M | 692.31M | 523.62M | 489.88M | 425.88M | 412.84M |
| Goodwill | 1.71B | 1.41B | 1.02B | 956.55M | 919.15M | 890.27M |
| Other Intangible Assets | 1.44B | 1.11B | 648.18M | 586.03M | 593.98M | 589.37M |
| Other Long-Term Assets | 183.35M | 140.51M | 137.07M | 130.29M | 123.63M | 157.97M |
| Total Assets | 11.24B | 9.29B | 7.72B | 6.61B | 5.52B | 5.44B |
| Accounts Payable | 1.41B | 1.23B | 937.09M | 935.97M | 849.28M | 734.27M |
| Accrued Expenses | 1.55B | 1.21B | 1.09B | 909.58M | 723.19M | 765.27M |
| Current Portion of Long-Term Debt | 12.91M | 12.91M | ||||
| Current Portion of Leases | 113.04M | 101.61M | 83.49M | 77.70M | 69.87M | 61.13M |
| Current Unearned Revenue | 2.97B | 2.33B | 2.05B | 1.60B | 1.10B | 788.13M |
| Total Current Liabilities | 6.05B | 4.86B | 4.15B | 3.52B | 2.75B | 2.36B |
| Long-Term Debt | 227.82M | 240.73M | ||||
| Long-Term Leases | 453.47M | 372.94M | 265.42M | 262.27M | 224.57M | 225.55M |
| Long-Term Unearned Revenue | 674.00K | 837.00K | 1.53M | 1.81M | 2.27M | 2.50M |
| Long-Term Deferred Tax Liabilities | 4.60M | 28.40M | 56.60M | 61.56M | 51.00M | |
| Other Long-Term Liabilities | 459.70M | 373.10M | 328.57M | 299.87M | 280.57M | 306.83M |
| Total Liabilities | 6.96B | 5.62B | 4.78B | 4.14B | 3.55B | 3.19B |
| Common Stock | 613.00K | 613.00K | 612.00K | 611.00K | 609.00K | 607.00K |
| Additional Paid-In Capital | 102.71M | 101.34M | 97.47M | 91.81M | 74.80M | 61.87M |
| Retained Earnings | 7.06B | 6.01B | 4.78B | 3.81B | 3.21B | 2.84B |
| Treasury Stock | -2.89B | -2.43B | -1.85B | -1.35B | -1.22B | -562.04M |
| Comprehensive Income & Other | -1.93M | -1.92M | -85.53M | -85.70M | -93.45M | -83.56M |
| Total Common Equity | 4.28B | 3.67B | 2.94B | 2.47B | 1.97B | 2.25B |
| Minority Interest | 1.04M | 1.04M | 1.04M | 1.04M | 702.00K | 702.00K |
| Shareholders' Equity | 4.28B | 3.67B | 2.94B | 2.47B | 1.97B | 2.25B |
| Total Liabilities & Equity | 11.24B | 9.29B | 7.72B | 6.61B | 5.52B | 5.44B |
| Total Debt | 566.51M | 474.56M | 348.92M | 339.97M | 535.17M | 540.34M |
| Net Cash (Debt) | 208.24M | 637.41M | 990.63M | 449.78M | -78.73M | 281.01M |
| Net Cash Per Share | 4.67 | 14.12 | 21.16 | 9.46 | -1.57 | 5.17 |
| Filing Date Shares Outstanding | 43.78M | 44.53M | 45.47M | 47.06M | 47.69M | 52.67M |
| Total Common Shares Outstanding | 43.99M | 44.52M | 45.81M | 47.05M | 47.67M | 53.30M |
| Working Capital | 1.03B | 1.07B | 1.24B | 928.62M | 708.45M | 1.03B |
| Book Value Per Share | 97.20 | 82.52 | 64.13 | 52.50 | 41.40 | 42.26 |
| Tangible Book Value | 1.12B | 1.15B | 1.27B | 927.20M | 460.46M | 772.75M |
| Tangible Book Value Per Share | 25.52 | 25.89 | 27.75 | 19.71 | 9.66 | 14.50 |
| Land | 191.23M | 162.34M | 142.11M | 130.36M | 127.74M | |
| Machinery | 485.45M | 463.30M | 431.04M | 409.53M | 386.50M | |
| Construction In Progress | 24.80M | 13.06M | 13.51M | 6.06M | 6.12M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.54B | 1.27B | 1.01B | 632.99M | 406.12M | 383.53M |
| Depreciation & Amortization | 214.15M | 186.42M | 133.68M | 118.97M | 108.61M | 112.44M |
| Other Amortization | 822.00K | 822.00K | 822.00K | 960.00K | 960.00K | 960.00K |
| Loss (Gain) From Sale of Assets | -147.10M | -147.10M | -1.01M | -2.06M | -6.39M | -782.00K |
| Asset Writedown & Restructuring Costs | 34.00M | 2.35M | ||||
| Loss (Gain) on Equity Investments | 189.00K | 189.00K | 1.46M | -1.26M | 9.00K | 1.21M |
| Stock-Based Compensation | 23.55M | 20.59M | 19.98M | 13.74M | 12.12M | 11.11M |
| Provision & Write-off of Bad Debts | 8.45M | 7.67M | 17.30M | 7.86M | 5.17M | 8.04M |
| Other Operating Activities | -41.33M | -16.59M | -20.22M | -14.03M | 12.09M | 11.50M |
| Change in Accounts Receivable | -480.52M | -480.52M | -324.82M | -620.76M | -384.82M | -297.50M |
| Change in Inventory | -26.95M | -26.95M | 17.98M | -23.44M | -31.54M | -116.00K |
| Change in Accounts Payable | 189.35M | 189.35M | -15.36M | 82.19M | 111.49M | 54.85M |
| Change in Unearned Revenue | 155.60M | 155.60M | 426.63M | 489.73M | 299.90M | 44.71M |
| Change in Other Net Operating Assets | 145.88M | 144.78M | 148.30M | 214.14M | -34.13M | -10.30M |
| Operating Cash Flow | 1.61B | 1.30B | 1.41B | 899.65M | 497.93M | 318.82M |
| Capital Expenditures | -128.93M | -112.75M | -74.95M | -78.40M | -49.29M | -36.19M |
| Sale of Property, Plant & Equipment | 3.51M | 4.65M | 3.84M | 13.60M | 7.14M | 2.75M |
| Cash Acquisitions | -918.98M | -1.02B | -228.17M | -96.49M | -98.66M | -118.24M |
| Divestitures | 256.62M | 256.62M | ||||
| Investment in Securities | -1.40M | |||||
| Investing Cash Flow | -787.79M | -873.59M | -299.28M | -161.29M | -140.80M | -153.08M |
| Short-Term Debt Issued | 525.00M | 200.00M | 270.00M | |||
| Total Debt Issued | 150.00M | 525.00M | 200.00M | 270.00M | ||
| Short-Term Debt Repaid | -525.00M | -200.00M | -270.00M | |||
| Long-Term Debt Repaid | -2.69M | -2.85M | -248.95M | -17.43M | -18.06M | |
| Total Debt Repaid | -152.63M | -527.69M | -2.85M | -448.95M | -287.43M | -18.06M |
| Net Debt Issued (Repaid) | -2.63M | -2.69M | -2.85M | -248.95M | -17.43M | -18.06M |
| Issuance of Common Stock | 943.00K | 9.19M | 8.18M | 7.33M | ||
| Repurchase of Common Stock | -631.76M | -603.07M | -505.22M | -133.77M | -668.15M | -199.76M |
| Common Dividends Paid | -64.44M | -45.02M | -43.38M | -32.68M | -27.19M | -28.16M |
| Other Financing Activities | -1.84M | -12.97M | -4.85M | -5.84M | -5.53M | -6.80M |
| Financing Cash Flow | -700.66M | -663.76M | -555.37M | -412.05M | -710.12M | -245.46M |
| Foreign Exchange Rate Adjustments | -4.15M | 6.86M | -2.60M | 6.37M | -12.52M | -1.28M |
| Net Cash Flow | 118.44M | -228.43M | 550.64M | 332.68M | -365.50M | -80.99M |
| Free Cash Flow | 1.48B | 1.19B | 1.33B | 821.25M | 448.64M | 282.62M |
| Free Cash Flow Margin | 7.47% | 7.00% | 9.15% | 6.53% | 4.05% | 2.85% |
| Free Cash Flow Per Share | 33.24 | 26.34 | 28.48 | 17.27 | 8.95 | 5.20 |
| Levered Free Cash Flow | 1.29B | 991.14M | 1.16B | 710.86M | 367.07M | 261.94M |
| Unlevered Free Cash Flow | 1.29B | 997.83M | 1.16B | 720.65M | 374.36M | 264.78M |
| Cash Interest Paid | 3.29M | 11.13M | 2.85M | 16.25M | 11.65M | 5.26M |
| Cash Income Tax Paid | 568.97M | 483.42M | 409.36M | 230.50M | 168.73M | 130.81M |
| Change in Working Capital | -16.65M | -17.75M | 252.72M | 141.85M | -39.11M | -208.36M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 30.27B | 27.39B | 20.88B | 10.13B | 7.06B | 6.80B |
| Enterprise Value | 30.06B | 27.16B | 20.20B | 10.05B | 7.37B | 6.70B |
| Last Close Price | 679.55 | 610.48 | 452.03 | 213.96 | 146.52 | 125.43 |
| PE Ratio | 19.97 | 21.52 | 20.73 | 16.01 | 17.38 | 17.73 |
| Forward PE | 17.68 | 22.69 | 20.13 | 16.77 | 16.78 | 17.00 |
| PS Ratio | 1.52 | 1.61 | 1.43 | 0.81 | 0.64 | 0.69 |
| PB Ratio | 6.99 | 7.45 | 7.11 | 4.10 | 3.58 | 3.02 |
| P/TBV Ratio | 26.88 | 23.76 | 16.43 | 10.93 | 15.33 | 8.80 |
| P/FCF Ratio | 20.36 | 23.03 | 15.66 | 12.34 | 15.73 | 24.06 |
| P/OCF Ratio | 18.73 | 21.03 | 14.83 | 11.27 | 14.18 | 21.33 |
| PEG Ratio | 0.41 | 0.78 | 1.08 | 1.64 | 1.64 | 1.70 |
| EV/Sales Ratio | 1.51 | 1.60 | 1.39 | 0.80 | 0.67 | 0.68 |
| EV/EBITDA Ratio | 13.79 | 15.39 | 13.65 | 10.09 | 10.87 | 10.36 |
| EV/EBIT Ratio | 15.29 | 17.21 | 15.01 | 11.46 | 12.95 | 12.53 |
| EV/FCF Ratio | 20.22 | 22.84 | 15.16 | 12.23 | 16.42 | 23.70 |
| Debt / Equity Ratio | 0.13 | 0.13 | 0.12 | 0.14 | 0.27 | 0.24 |
| Debt / EBITDA Ratio | 0.21 | 0.21 | 0.19 | 0.26 | 0.57 | 0.62 |
| Debt / FCF Ratio | 0.38 | 0.40 | 0.26 | 0.41 | 1.19 | 1.91 |
| Net Debt / Equity Ratio | -0.05 | -0.17 | -0.34 | -0.18 | 0.04 | -0.12 |
| Net Debt / EBITDA Ratio | -0.10 | -0.36 | -0.67 | -0.45 | 0.12 | -0.43 |
| Net Debt / FCF Ratio | -0.14 | -0.54 | -0.74 | -0.55 | 0.17 | -0.99 |
| Asset Turnover | 2.00 | 2.00 | 2.03 | 2.07 | 2.02 | 1.89 |
| Inventory Turnover | 106.36 | 123.50 | 114.33 | 106.85 | 135.57 | 156.41 |
| Quick Ratio | 1.12 | 1.17 | 1.25 | 1.22 | 1.20 | 1.39 |
| Current Ratio | 1.17 | 1.22 | 1.30 | 1.26 | 1.26 | 1.44 |
| Return on Equity (ROE) | 40.55% | 38.49% | 37.24% | 28.50% | 19.21% | 17.82% |
| Return on Assets (ROA) | 12.33% | 11.60% | 11.74% | 9.03% | 6.49% | 6.36% |
| Return on Invested Capital (ROIC) | 37.27% | 46.80% | 49.58% | 31.24% | 20.56% | 21.18% |
| Return on Capital Employed (ROCE) | 37.80% | 35.70% | 37.80% | 28.40% | 20.50% | 17.40% |
| Earnings Yield | 5.01% | 4.65% | 4.82% | 6.25% | 5.75% | 5.64% |
| FCF Yield | 4.91% | 4.34% | 6.38% | 8.10% | 6.36% | 4.16% |
| Dividend Yield | 0.23% | 0.19% | 0.22% | 0.33% | 0.38% | 0.41% |
| Payout Ratio | 4.62% | 3.54% | 4.31% | 5.16% | 6.69% | 7.34% |
| Buyback Yield / Dilution | 1.96% | 3.55% | 1.59% | 5.13% | 7.75% | 1.94% |
| Total Shareholder Return | 2.19% | 3.74% | 1.81% | 5.46% | 8.13% | 2.34% |