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Not Investment Advice

EME

NYSE · USD
EMCOR Group, Inc.
Industrials · Engineering & Construction
CEO Anthony J. Guzzi Employees 44,000 R&D / revenue 0.0%
Last price
$721.66−1.48%last session
Market cap
$31.8B
P/E (TTM)
22.5x
From 52w high
−24.2%
From 52w low
+27.7%
1-year return
+4.9%
RSI 14 · vs SMA200
38.6 · −7.5%
IS score
67.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

EME   SPY   XLI (sector ETF) · weekly closes
90100110120130Jan 26Apr 26Jul 26Oct 26SPY 116XLI 111EME 105

Score DNA

Each bar is a 0-100 score within the scored universe
54
Profitability
75
Growth
42
Value
85
Momentum
100
Risk (safety)
76
Quality
76
Balance sheet
62
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Net cash✓ Congress buying
Warnings
None of the computed warning flags fires for EME (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 8 / 9Altman Z 7.2Beta 1.133 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
6 open-market sales, $11.2M
Form 144 notices (12m): 9, $40.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-08-10
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+91
177 new holders, 73 closed
1,246 filers hold 94.0% · 486 added, 426 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+93
975 funds adding shares
882 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
38.5%
20-day avg 47.9%, 50-day avg 47.7%
Latest 9.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$17.0B
Revenue growth YoY+16.6%
Gross margin19.6%
Operating income$1.7B
Operating margin9.8%
Net income$1.3B
Net margin7.5%
EPS (diluted)$28.19
Cash flow
Operating cash flow$1.3B
Capital expenditure$112.8M
Free cash flow$1.2B
FCF conversion (FCF / OCF)91.3%
Stock-based compensation−$5.0M
FCF less SBC$1.2B
Buybacks$586.3M
Dividends$45.0M
Balance sheet & returns
Cash & short-term investments$1.1B
Total debt$470.6M
Net cash$641.4M
Shareholders' equity$3.7B
Goodwill & intangibles$2.5B
Debt / equity0.13
ROE (TTM)38.4%
ROIC (TTM)26.4%
Operating margin by fiscal year
5.4%FY20215.1%FY20227.0%FY20239.2%FY20249.8%FY2025
Revenue $9.9B (FY2021) to $17.0B (FY2025), a 14.4% CAGR.

Valuation

P/E (TTM)22.5x
EV / EBITDA14.0x
Price / sales1.71x
Price / FCF27.2x
FCF yield3.68%
Buyback yield1.84%
SBC / revenue-0.0%
Price / book7.86x
Forward P/E FY202621.9x
Forward P/E FY202719.3x
Forward P/E FY202817.0x
Forward multiples divide today's price by Street EPS estimates. Street mean target $1,089.75 across 4 analysts last quarter is theirs, not ours.

EME vs industry median

153 companies in Engineering & Construction
Gross margin 19.7% 14.9% Operating margin 10.2% 5.6% Net margin 7.7% 3.2% ROIC 26.4% 9.6%
EME (TTM)Industry median Asset turnover 1.83 vs industry 1.08 · financial leverage 2.49

Earnings delivery

Next report 2026-10-29 · consensus EPS $8.37
100%
beat rate, 12 of 12 quarters
+17.0%
median EPS surprise
12
longest beat streak
+31+26+47+40+16+14+17+17+0+8+16+25
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-26 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
EME EMCOR Group, Inc. $31.8B22.5x38.4%7.7%+16.6% +4.9%
FIX Comfort Systems USA, Inc. $50.6B35.4x55.3%13.5%+46.1% +71.6%
APG APi Group Corporation $17.4Bn/m10.1%4.4%+14.1% +16.6%
J Jacobs Solutions Inc. $16.5B49.2x9.4%3.3%+84.3% −9.4%
MTZ MasTec, Inc. $15.3B30.1x15.7%3.0%+23.5% −6.0%
STRL Sterling Infrastructure, Inc $13.0B30.2x38.5%13.3%+60.8% —
PWR Quanta Services, Inc. $95.0B71.5x15.3%4.7%+25.8% —
IESC IES Holdings, Inc. $10.1B22.1x45.4%12.3%+22.7% —
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.

Recent 8-K filings

2026-07-31Other Events
2026-07-30Earnings Release; Exhibits
2026-06-04Shareholder Vote; Exhibits
2026-04-29Earnings Release; Exhibits
2026-02-26Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-10-30Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding44,109,901
Free float99.3%
Institutional ownership94.0%
Beta1.13
Dividend yield0.22%
Last dividend$0.40 on 2026-10-15
50 / 200-day average$773.20 / $779.81
Large-cap Industrials median P/E29.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where EME sits among 28 scored companies in Engineering & Construction (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureEMEIndustry medianIndustry percentileSector median
P/E (TTM) 22.2x 30.3x
22nd		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) 0.47 1.02
19th		 1.42
Price / sales 1.7x 1.3x
67th		 2.0x
Price / book 7.8x 4.9x
70th		 2.9x
Price / tangible book 24.0x 17.2x
62nd		 5.6x
Price / free cash flow 27.2x 24.5x
70th		 20.8x
Price / operating cash flow 24.7x 15.7x
79th		 14.5x
Enterprise value $31.4B $6.1B
93rd		 $4.8B
EV / sales 1.7x 1.6x
52nd		 2.4x
EV / EBITDA 14.1x 15.4x
32nd		 13.6x
EV / EBIT 15.4x 21.4x
17th		 19.9x
EV / free cash flow 26.8x 24.9x
57th		 24.3x
Earnings yield 4.5% 3.2%
81st		 3.3%
FCF yield 3.7% 3.8%
41st		 3.8%
Operating cash flow yield 4.1% 5.4%
30th		 6.2%
Graham number (per share) $257.70 $41.34
96th		 $38.21

Profitability (TTM)

MeasureEMEIndustry medianIndustry percentileSector median
Gross margin 19.7% 16.4%
63rd		 30.5%
EBITDA margin 12.0% 9.6%
63rd		 14.3%
Operating margin 10.2% 7.0%
70th		 9.8%
EBIT margin 11.0% 6.8%
70th		 9.9%
Net margin 7.7% 4.0%
74th		 6.0%
NOPAT margin 7.1% 6.2%
59th		 7.8%
FCF margin 6.3% 5.8%
56th		 7.0%
Operating cash flow margin 6.9% 9.3%
37th		 11.2%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 9.5% 7.2%
67th		 14.1%
Stock comp / revenue —
Effective tax rate 29.7% 23.7%
93rd		 21.0%

Returns on capital

MeasureEMEIndustry medianIndustry percentileSector median
ROE (on average equity) 40.3% 15.5%
93rd		 11.9%
ROA 15.5% 4.7%
81st		 4.8%
ROIC 35.9% 12.5%
85th		 8.7%
ROCE 41.5% 12.0%
93rd		 9.4%
Return on tangible assets 22.0% 8.5%
89th		 7.9%
Cash ROIC (OCF / invested capital) 34.9% 17.1%
73rd		 12.8%
Gross profitability (GP / assets) 36.0% 18.9%
89th		 19.2%
ROIC, 3-yr average 29.4% 7.9%
91st		 7.8%
ROIC, 5-yr average 32.4% 6.9%
96th		 8.6%
ROE, 5-yr average 28.7% 11.2%
92nd		 12.5%
Incremental ROIC 61.3% 43.5%
68th		 20.5%

Growth

MeasureEMEIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 18.9% 18.5%
52nd		 8.6%
Revenue growth (QoQ) 11.4% 14.1%
41st		 9.9%
Revenue CAGR, 3 yr 16.7% 13.9%
62nd		 5.0%
Revenue CAGR, 5 yr 15.1% 15.3%
46th		 8.3%
Gross profit CAGR, 3 yr 26.8% 22.8%
57th		 6.5%
Operating income CAGR, 3 yr 40.6% 33.9%
52nd		 6.4%
Net income growth (TTM YoY) 30.0% 35.9%
45th		 11.3%
Net income CAGR, 3 yr 43.7% 23.3%
68th		 6.6%
EPS growth (TTM YoY) 31.2% 29.6%
55th		 13.3%
EPS CAGR, 3 yr 46.9% 22.5%
74th		 5.6%
EPS CAGR, 5 yr 40.4% 18.7%
72nd		 8.3%
FCF growth (TTM YoY) -3.1% 14.9%
32nd		 14.7%
FCF CAGR, 3 yr 20.3% 28.0%
32nd		 12.2%
Operating cash flow CAGR, 3 yr 20.8% 31.3%
29th		 8.8%
Book value CAGR, 3 yr 27.2% 10.1%
88th		 7.3%
Dividend CAGR, 3 yr 10.6% 4.8%
91st		 2.7%
Sustainable growth rate 38.7% 15.4%
87th		 11.0%

Margin history & stability

MeasureEMEIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 19.0% 16.9%
58th		 30.6%
Operating margin, 3-yr average 9.3% 6.4%
71st		 10.0%
Net margin, 3-yr average 6.9% 3.7%
79th		 6.2%
FCF margin, 3-yr average 7.1% 5.8%
58th		 7.1%
Revenue stability (0-1) 0.97 0.91
71st		 0.81
Earnings stability (0-1) 0.94 0.52
92nd		 0.47
Margin stability (0-1) 0.89 0.86
62nd		 0.90

Liquidity (latest quarter)

MeasureEMEIndustry medianIndustry percentileSector median
Cash & short-term investments $924.4M $313.8M
74th		 $249.6M
Net cash (− = net debt) $382.5M −$336.6M
85th		 −$666.5M
Working capital $1.4B $431.9M
93rd		 $376.4M
Current ratio 1.28 1.38
33rd		 1.79
Quick ratio 1.25 1.33
37th		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.18 0.23
30th		 0.32
Defensive interval (days) 1,326 days 1,326 days
50th		 614 days

Leverage & solvency (latest quarter)

MeasureEMEIndustry medianIndustry percentileSector median
Total debt $541.9M $782.7M
48th		 $919.8M
Debt / equity 0.13 0.69
19th		 0.65
Net debt / equity −0.09 0.59
30th		 0.46
Debt / assets 5.3% 23.7%
19th		 29.3%
Debt / capital 11.7% 40.8%
19th		 39.5%
Debt / EBITDA 0.24 2.54
16th		 2.44
Net debt / EBITDA −0.17 2.12
24th		 1.86
Interest coverage (EBIT / interest) 631.2x 5.8x
100th		 5.0x
Cash interest coverage 398.1x 7.6x
100th		 6.1x
Debt payback (years of OCF) 0.4 yrs 2.9 yrs
17th		 3.2 yrs
Liabilities / assets 59.8% 65.0%
30th		 56.7%
IS credit model rating AAA — —
Implied credit spread (bps) 50 175
0th		 200

Efficiency

MeasureEMEIndustry medianIndustry percentileSector median
Asset turnover 2.00 1.30
85th		 0.75
Fixed asset turnover 23.60 11.15
81st		 5.14
Inventory turnover 114.1 71.6
71st		 5.0
Receivables turnover 4.0 5.2
15th		 6.7
Days sales outstanding 90 days 70 days
85th		 54 days
Days inventory outstanding 3 days 5 days
33rd		 72 days
Days payables outstanding 29 days 37 days
22nd		 41 days
Cash conversion cycle (days) 65 days 45 days
85th		 63 days
Capex / revenue 0.6% 1.9%
11th		 3.0%
Capex / depreciation 0.62 0.77
30th		 0.76
Operating expense ratio 9.2% 7.7%
63rd		 17.7%

Cash flow & earnings quality

MeasureEMEIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.90 1.68
9th		 1.50
FCF / net income 0.82 1.20
22nd		 1.15
FCF / operating cash flow 90.8% 78.0%
88th		 74.0%
Capex / operating cash flow 9.2% 22.0%
12th		 26.1%
Accruals ratio 1.6% -4.1%
89th		 -4.0%
Sloan accruals ratio 5.1% -1.6%
85th		 -2.4%
Earnings quality score (0-1) 0.75 0.75
4th		 1.00

Dividends & buybacks

MeasureEMEIndustry medianIndustry percentileSector median
Dividend yield 0.2% 0.0%
63rd		 0.6%
Dividend per share (TTM) $1.60 $0.00
93rd		 $0.44
Payout ratio (dividends / net income) 4.0% 2.0%
52nd		 22.5%
Dividends / FCF 4.9% 2.1%
65th		 19.6%
Dividend growth (YoY) 27.8% 15.0%
82nd		 5.6%
Buyback yield -0.0% 0.4%
7th		 0.5%
Shareholder yield (dividends + buybacks) 0.2% 0.5%
33rd		 2.0%
Share count change (YoY) -1.0% 0.2%
36th		 0.0%
Buybacks, last 5 years $1.0B $129.4M
85th		 $76.0M

Scores & forensic checks

MeasureEMEIndustry medianIndustry percentileSector median
IS score 67 59
74th		 53
IS profitability 54 30
81st		 37
IS growth 75 69
60th		 54
IS value 42 31
78th		 47
IS momentum 85 88
48th		 76
IS risk (safety) 100 90
56th		 80
IS quality 76 62
74th		 67
IS balance sheet 76 52
74th		 56
IS earnings quality 62 67
41st		 70
IS cash flow 58 57
52nd		 54
Piotroski F-score (0-9) 8 6
85th		 6
Altman Z-score 7.2 3.8
73rd		 3.3
Beneish M-score −2.21 −2.51
80th		 −2.52
Ohlson O-score −8.03 −7.13
7th		 −7.49
IS credit score 96 69
85th		 65

Per share

MeasureEMEIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $32.24 $2.70
96th		 $2.21
Book value per share $91.55 $20.89
100th		 $18.38
Tangible book per share $34.76 $3.35
93rd		 $4.39
Revenue per share $417.51 $91.28
100th		 $36.64
FCF per share $26.29 $4.15
93rd		 $2.70
Operating cash flow per share $28.95 $5.90
93rd		 $4.28
Cash per share $20.75 $3.92
81st		 $3.02

Size (TTM)

MeasureEMEIndustry medianIndustry percentileSector median
Market cap $31.8B $5.2B
93rd		 $3.9B
Revenue $18.6B $4.6B
96th		 $2.7B
EBITDA $2.2B $348.6M
96th		 $394.8M
Net income $1.4B $172.3M
100th		 $136.3M
Free cash flow $1.2B $286.8M
93rd		 $162.9M
Total assets $10.2B $4.5B
85th		 $3.5B
Shareholders' equity $4.1B $1.3B
96th		 $1.4B
Employees 44,000 9,200
89th		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-07-31Guzzi Anthony
Director, Chairman, President and CEO
 Award / grant 13——167,325
2026-07-31Altmeyer John W
Director
 Award / grant 3——33,923
2026-07-31Nalbandian Jason R
SVP, Chief Acct Officer & CFO
 Award / grant 4——18,161
2026-07-31Mauricio Maxine Lum
CAO, EVP & General Counsel
 Award / grant 4——22,484
2026-06-17Lowe Carol P
Director
 Open-market sale 950$844.50$802,27517,278
2026-06-04Dahl Amy E
Director
 Award / grant 230——908
2026-06-04Altmeyer John W
Director
 Award / grant 304——33,920
2026-06-04Walker-Lee Robin A
Director
 Award / grant 230——6,370
2026-06-04Schwarzwaelder Steven
Director
 Award / grant 230——16,105
2026-06-04Roche Patrick J
Director
 Award / grant 304——462
2026-06-04Mcevoy M Kevin
Director
 Award / grant 230——13,559
2026-06-04Lowe Carol P
Director
 Award / grant 304——18,228

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJul

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired172,110—
GiftDisposed13,000—
Open-market saleDisposed612,527$11.2M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 9 notices · 53,209 shares · $40.4M
FiledFilerShares proposedEst. proceeds
2026-06-17Lowe Carol P950$793,032
2026-05-08Reid William P2,000$1.9M
2026-05-01John W. Altmeyer2,500$2.2M
2026-04-30Nalbandian Jason R800$680,000
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 30 trades (18 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-25April DelaneyHouseSale$100,001 - $250,0002026-09-10
2026-08-25April McClain DelaneyHouseSale$100,001 - $250,0002026-09-10
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.4,116,754$3.4B9.33%
VANGUARD CAPITAL MANAGEMENT LLC2,901,344$2.4B6.58%
VANGUARD PORTFOLIO MANAGEMENT LLC1,988,553$1.7B4.51%
STATE STREET CORP1,978,559$1.6B4.49%
FMR LLC1,334,646$1.1B3.03%
GEODE CAPITAL MANAGEMENT, LLC1,281,283$1.1B2.90%
FIRST TRUST ADVISORS LP772,897$641.4M1.75%
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC613,035$508.7M1.39%
VICTORY CAPITAL MANAGEMENT INC587,535$487.6M1.33%
Invesco Ltd.581,246$482.4M1.32%
GOLDMAN SACHS GROUP INC572,283$474.9M1.30%
NORGES BANK526,648$437.1M1.19%
BANK OF MONTREAL /CAN/446,759$370.8M1.01%
FULLER & THALER ASSET MANAGEMENT, INC.439,676$364.9M1.00%
DEUTSCHE BANK AG\406,945$337.7M0.92%

Institutional ownership by quarter

2023-092026-0694.0%
% of shares held by 13F filers
2023-092026-061,246
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,24694.0%17748642673
2026-03-311,15593.2%17643739489
2025-12-311,09196.1%172417373114
2025-09-301,05792.7%18835939157
2025-06-3094195.9%17532034197
2025-03-3187496.3%117341322112
2024-12-3188695.1%16730832351
2024-09-3078795.8%12230627071
2024-06-3074398.1%14226826248
2024-03-3165597.3%14019125945
2023-12-3156498.5%9019820645
2023-09-3052799.4%8315622040

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-06SCHEDULE 13G/AAbigail P. Johnson4.4%1,958,824
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%3,335,118
2025-11-05SCHEDULE 13GAbigail P. Johnson5.9%2,641,059
2025-10-30SCHEDULE 13G/AThe Vanguard Group11.9%5,332,636
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.05%$1.1B
VTI0.05%$1.1B
VSMPX0.05%$1.1B
VTSAX0.05%$1.1B
VOO0.05%$873.4M
VFFSX0.05%$873.4M

Share structure

Shares outstanding44,109,901
Float43,787,545
Free float99.3%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$9.9B$11.1B$12.6B$14.6B$17.0B
Cost of revenue$8.4B$9.5B$10.5B$11.8B$13.7B
Gross profit$1.5B$1.6B$2.1B$2.8B$3.3B
R&D$0$0$0$0$0
SG&A$970.9M$1.0B$1.2B$1.4B$1.7B
Operating income$530.8M$564.9M$875.8M$1.3B$1.7B
EBITDA$647.8M$680.6M$1.0B$1.5B$2.0B
Pretax income$529.3M$558.8M$872.9M$1.4B$1.8B
Income tax$145.6M$152.6M$239.5M$370.2M$546.2M
Net income$383.5M$406.1M$633.0M$1.0B$1.3B
EPS, diluted$7.06$8.10$13.31$21.52$28.19
Diluted shares54.3M50.1M47.6M46.8M45.1M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$821.3M$456.4M$789.8M$1.3B$1.1B
Receivables$2.4B$2.8B$3.5B$3.9B$4.2B
Inventory$54.1M$85.6M$110.8M$95.7M$126.3M
Total current assets$3.4B$3.5B$4.4B$5.4B$5.9B
PP&E, net$412.8M$425.9M$489.9M$523.6M$692.3M
Goodwill & intangibles$1.5B$1.5B$1.5B$1.7B$2.5B
Total assets$5.4B$5.5B$6.6B$7.7B$9.6B
Accounts payable$734.3M$849.3M$936.0M$937.1M$1.2B
Total current liabilities$2.4B$2.8B$3.5B$4.2B$4.9B
Long-term debt$240.7M$227.8M$2.8M$0$369.0M
Total liabilities$3.2B$3.6B$4.1B$4.8B$5.9B
Shareholders' equity$2.3B$2.0B$2.5B$2.9B$3.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$383.7M$406.1M$633.3M$1.0B$1.3B
Depreciation & amortization$112.4M$108.6M$119.0M$133.7M$186.4M
Stock-based compensation$11.1M$12.1M$13.7M$20.0M−$5.0M
Change in working capital−$208.4M−$39.1M$141.9M$252.7M−$17.8M
Operating cash flow$318.8M$497.9M$899.7M$1.4B$1.3B
Capital expenditure−$36.2M−$49.3M−$78.4M−$75.0M−$112.8M
Free cash flow$282.6M$448.6M$821.3M$1.3B$1.2B
Investing cash flow−$153.1M−$140.8M−$161.3M−$299.3M−$873.6M
Net debt issued / repaid−$18.1M−$17.4M−$248.9M−$2.9M−$2.7M
Buybacks−$195.5M−$660.6M−$127.7M−$489.8M−$586.3M
Dividends paid−$28.2M−$27.2M−$32.7M−$43.4M−$45.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin15.2%14.5%16.6%19.0%19.6%
Operating margin5.4%5.1%7.0%9.2%9.8%
Net margin3.9%3.7%5.0%6.9%7.5%
FCF margin2.9%4.1%6.5%9.2%7.0%
ROE17.8%19.2%28.5%37.3%38.4%
ROIC19.5%20.0%31.4%50.5%34.3%
ROA7.3%7.4%10.4%14.1%14.7%
Debt / equity0.240.270.140.120.23
Interest coverage88.2x43.3x51.9x—280.4x
Current ratio1.441.261.261.301.22
Revenue growth+12.6%+11.8%+13.6%+15.8%+16.6%
EPS growth+196.2%+18.7%+57.9%+63.0%+29.3%
P/E at year end17.6x17.3x16.0x20.8x21.7x
EV / EBITDA at year end10.0x10.5x9.6x13.2x13.7x
FCF yield at year end4.19%6.37%8.09%6.37%4.32%
Dividend payout7.3%6.7%5.2%4.3%3.5%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
United States Mechanical Construction And Facilities Services$3.9B$4.4B$5.1B$6.5B$7.1B
United States Electrical Construction And Facilities Services$2.0B$2.4B$2.8B$3.4B$5.1B
United States Building Services$2.6B$2.8B$3.2B$3.2B$3.2B
United States Industrial Services$1.0B$1.2B$1.2B$1.3B$1.3B
United Kingdom Building Services$510.0M$477.1M$436.4M$425.5M$471.3M

Revenue by region · FY2025

UNITED STATES$16.5B · 100%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $8.37 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$20.3B$20.2B – $20.5B$32.99$32.63 – $33.85821.9x
2027$22.6B$21.8B – $23.1B$37.37$35.91 – $38.48819.3x
2028$24.4B$23.5B – $25.5B$42.40$41.76 – $43.04217.0x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$7.23$9.06+25.3%$4.7B$5.2B+9.4%
2026-04-29$5.90$6.84+15.9%$4.2B$4.6B+10.2%
2026-02-26$6.68$7.19+7.6%$4.3B$4.5B+5.4%
2025-10-30$6.54$6.57+0.5%$4.3B$4.3B+0.5%
2025-07-31$5.74$6.72+17.1%$4.1B$4.3B+4.8%
2025-04-30$4.63$5.41+16.8%$3.8B$3.9B+2.2%
2025-02-26$5.53$6.32+14.3%$3.8B$3.8B−0.9%
2024-10-31$4.98$5.80+16.5%$3.8B$3.7B−2.0%
2024-07-25$3.76$5.25+39.6%$3.5B$3.7B+4.1%
2024-04-25$2.84$4.17+46.8%$3.2B$3.4B+6.5%
2024-02-28$3.55$4.47+25.9%$3.4B$3.4B+2.3%
2023-10-26$2.72$3.57+31.2%$3.1B$3.2B+1.8%
2023-07-27$2.36$2.95+25.0%$3.0B$3.0B+1.0%
2023-04-27$1.80$2.32+28.9%$2.9B$2.9B+0.6%
2023-02-23$2.27$2.63+15.9%$2.9B$2.9B+2.2%
2022-10-27$2.08$2.16+3.8%$2.7B$2.8B+4.3%
2022-07-28$1.68$1.99+18.5%$2.6B$2.7B+3.7%
2022-04-28$1.61$1.39−13.7%$2.5B$2.6B+5.1%
2022-02-24$1.89$1.890.0%$2.6B$2.6B+2.9%
2021-10-28$1.79$1.85+3.4%$2.4B$2.5B+5.5%
2021-07-29$1.58$1.78+12.7%$2.3B$2.4B+8.2%
2021-04-29$1.22$1.54+26.2%$2.2B$2.3B+4.3%
2021-02-25$1.44$1.86+29.2%$2.2B$2.3B+3.8%
2020-10-29$1.28$1.76+37.5%$1.6B$2.2B+40.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.406-220.406-290.407-060.507-130.407-200.707-270.508-030.408-100.408-170.508-240.408-31
Week ofNotionalSharesTrades
2026-08-31$363.1M491,24932,315
2026-08-24$475.6M625,58136,184
2026-08-17$392.2M485,14032,270
2026-08-10$355.0M427,93031,014
2026-08-03$468.6M572,68437,686
2026-07-27$733.6M985,91651,031

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1538.5%
DateShort shareShort volumeTotal volume
2026-10-1538.5%58,608152,241
2026-10-1436.3%46,311127,673
2026-10-1338.3%59,389155,201
2026-10-1242.8%48,786113,890
2026-10-0946.5%31,34367,342
2026-10-0847.2%67,066142,127
2026-10-0750.3%75,915150,811
2026-10-0650.5%73,960146,595
2026-10-0537.5%42,320112,965
2026-10-0254.0%75,898140,681
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.4Jan+1.3Feb+1.2Mar+3.8Apr+1.8May+1.8Jun+4.2Jul-0.1Aug-0.8Sep+4.4Oct+2.3Nov+3.5Dec
MonthAvg returnUp yearsYears
Jan−0.4%45%20
Feb+1.3%55%20
Mar+1.2%62%21
Apr+3.8%70%20
May+1.8%50%20
Jun+1.8%50%20
Jul+4.2%65%20
Aug−0.1%60%20
Sep−0.8%45%20
Oct+4.4%75%20
Nov+2.3%70%20
Dec+3.5%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1438.6
MFI39.3
ADX14.5
Stochastic %K / %D14.3 / 24.1
Williams %R-87.3
CCI-159
TSI / signal-4.1 / 1.0
Chaikin money flow0.14
ATR$26.95
Bollinger width11.4%
Volume vs 20-day avg0.58x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$766.18 (−5.8%)
SMA 50$771.36 (−6.4%)
SMA 200$780.25 (−7.5%)
EMA 21$762.87 (−5.4%)
EMA 50$769.42 (−6.2%)
EMA 200$755.36 (−4.5%)
Bollinger upper$809.79 (−10.9%)
Bollinger lower$722.58 (−0.1%)
Parabolic SAR$820.95 (−12.1%)
Open the live chart, 110+ indicators

About EMCOR Group, Inc.

EMCOR Group, Inc. specializes in delivering comprehensive electrical and mechanical construction services, alongside integrated facilities management solutions, primarily serving clients across the United States and the United Kingdom. The company's construction expertise spans the entire project lifecycle, encompassing initial design and integration through installation, commissioning, operation, and ongoing maintenance. This includes vital electrical infrastructure such as power transmission, distribution, and generation systems, advanced energy efficiency solutions, and premise-specific electrical and lighting systems. They also implement sophisticated process instrumentation for critical industries like refining, chemical processing, and food production, in addition to low-voltage networks covering fire alarms, security, process controls, and voice/data communications. Furthermore, EMCOR handles public infrastructure projects involving roadway and transit lighting, signaling, and fiber optic lines. On the mechanical front, EMCOR offers advanced HVAC, refrigeration, and geothermal climate control systems, specialized clean-room process ventilation, and essential fire protection and suppression systems. Their capabilities extend to plumbing, process, and high-purity piping, various controls and filtration systems, water and wastewater treatment, and central plant heating and cooling. The firm also undertakes heavy industrial tasks such as crane and rigging, millwright services, and steel fabrication, erection, and welding. Beyond construction, EMCOR provides extensive integrated facilities management and operational support. This encompasses day-to-day operations and maintenance for commercial and government sites, critical outage services for utilities and industrial plants, military base support, and mobile mechanical maintenance. Supplementary services include indoor air quality management, janitorial and landscaping duties, vendor coordination, call center operations, building systems installation and support, program management for energy systems, technical consulting, and the execution of infrastructure, building, and retrofit projects. The company also delivers specialized industrial services tailored for the oil, gas, and petrochemical sectors. EMCOR Group, Inc. was established in 1987 and maintains its headquarters in Norwalk, Connecticut.

https://www.emcorgroup.com

Key executives

NameTitlePayBorn
Anthony J. GuzziChairman, President & Chief Executive Officer$10.9M1964
Maxine Lum MauricioChief Administrative Officer, Executive Vice President, General Counsel & Corporate Secretary$3.4M1972
Jason R. NalbandianSenior Vice President, Chief Financial Officer & Chief Accounting Officer$2.6M1988
Daniel FitzgibbonsPresident & Chief Executive Officer of EMCOR Electrical Construction Services——
Douglas R. Harrington Jr.President & Chief Executive Officer of EMCOR Industrial Services——
Kostas ChristakosTreasurer——
Laura D'EntroneVice President & Chief Information Security Officer——
Robert LindVP & Controller——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Anthony J. Guzzi Chairman, President and Chief Executive Officer2025$1.3M$3.5M$9.4M$14.4M
Maxine L. Mauricio Executive Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary2025$650,000$787,124$2.6M$4.2M
Jason R. Nalbandian Senior Vice President, Chief Financial Officer and Chief Accounting Officer2025$600,000$624,207$1.9M$3.2M

Employees

33k201836k201933k202034k202136k202238k202340k202444k2025

Dividends

Ex-dateAmountPaid
2026-10-15$0.42026-10-30
2026-07-15$0.42026-07-31
2026-04-16$0.42026-04-30
2026-01-14$0.42026-01-30
2025-10-15$0.252025-10-30
2025-07-15$0.252025-07-31
2025-04-17$0.252025-04-30
2025-01-16$0.252025-01-31

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage66
Intangibles56
Switching costs58
Network effect60
Efficient scale83
Our component scores (0-100) and overall 63.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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