— Know what they know.
/
Not Investment Advice

FIX

NYSE · USD
Comfort Systems USA, Inc.
Industrials · Engineering & Construction
CEO Brian E. Lane Employees 22,700 R&D / revenue 0.0%
Last price
$1,439.07−2.85%last session
Market cap
$50.6B
P/E (TTM)
35.4x
From 52w high
−30.6%
From 52w low
+86.8%
1-year return
+71.6%
RSI 14 · vs SMA200
31.8 · −9.5%
IS score
81.3/ 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

FIX   SPY   XLI (sector ETF) · weekly closes
100150200Jan 26Apr 26Jul 26Oct 26FIX 172SPY 116XLI 111

Score DNA

Each bar is a 0-100 score within the scored universe
69
Profitability
82
Growth
33
Value
100
Momentum
100
Risk (safety)
90
Quality
84
Balance sheet
42
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Net cash
Warnings
None of the computed warning flags fires for FIX (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Network EffectsPiotroski 9 / 9Altman Z 10.7Beta 1.682 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
13 open-market sales, $103.0M
Form 144 notices (12m): 28, $168.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+153
246 new holders, 80 closed
1,360 filers hold 93.6% · 499 added, 490 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+257
1,327 funds adding shares
1,070 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
33.2%
20-day avg 56.5%, 50-day avg 51.7%
Latest 23.3 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$9.1B
Revenue growth YoY+29.5%
Gross margin24.1%
Operating income$1.3B
Operating margin14.4%
Net income$1.0B
Net margin11.2%
EPS (diluted)$28.88
Cash flow
Operating cash flow$1.2B
Capital expenditure$154.9M
Free cash flow$1.0B
FCF conversion (FCF / OCF)86.9%
Stock-based compensation$21.8M
FCF less SBC$1.0B
Buybacks$216.0M
Dividends$68.8M
Balance sheet & returns
Cash & short-term investments$981.9M
Total debt$483.4M
Net cash$498.5M
Shareholders' equity$2.4B
Goodwill & intangibles$1.5B
Debt / equity0.10
ROE (TTM)53.6%
ROIC (TTM)38.8%
Operating margin by fiscal year
6.1%FY20216.1%FY20228.0%FY202310.7%FY202414.4%FY2025
Revenue $3.1B (FY2021) to $9.1B (FY2025), a 31.2% CAGR.

Valuation

P/E (TTM)35.4x
EV / EBITDA24.7x
Price / sales4.51x
Price / FCF23.4x
FCF yield4.26%
Buyback yield0.43%
SBC / revenue0.3%
Price / book15.75x
Forward P/E FY202629.3x
Forward P/E FY202723.9x
Forward P/E FY202819.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $2,094.00 across 5 analysts last quarter is theirs, not ours.

FIX vs industry median

153 companies in Engineering & Construction
Gross margin 25.7% 14.9% Operating margin 16.5% 5.6% Net margin 12.8% 3.2% ROIC 38.8% 9.6%
FIX (TTM)Industry median Asset turnover 1.32 vs industry 1.08 · financial leverage 2.64

Earnings delivery

Next report 2026-10-22 · consensus EPS $12.85
100%
beat rate, 12 of 12 quarters
+28.6%
median EPS surprise
12
longest beat streak
+27+16+34+19+3+13+30+35+31+39+54+20
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-26 to 2026-07-23. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
FIX Comfort Systems USA, Inc. $50.6B35.4x53.6%12.8%+29.5% +71.6%
EME EMCOR Group, Inc. $31.8B22.5x40.3%7.8%+18.9% +4.9%
PWR Quanta Services, Inc. $95.0B71.5x15.3%4.7%+25.8% +44.4%
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% —
STRL Sterling Infrastructure, Inc $13.0B30.2x38.5%13.3%+60.8% —
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

2026-08-03Regulation FD; Exhibits
2026-07-23Earnings Release; Other Events; Exhibits
2026-06-22Officer/Director Change; Regulation FD; Exhibits
2026-05-21Shareholder Vote
2026-05-01Regulation FD; Exhibits
2026-04-23Earnings Release; Other Events; Exhibits

Context

Shares outstanding35,194,300
Free float98.9%
Institutional ownership93.6%
Beta1.68
Dividend yield0.21%
Last dividend$0.90 on 2026-08-13
50 / 200-day average$1,650.09 / $1,588.34
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 FIX 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

MeasureFIXIndustry medianIndustry percentileSector median
P/E (TTM) 35.3x 30.3x
70th		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) 0.43 1.02
12th		 1.42
Price / sales 4.5x 1.3x
93rd		 2.0x
Price / book 15.7x 4.9x
96th		 2.9x
Price / tangible book 44.2x 17.2x
75th		 5.6x
Price / free cash flow 23.4x 24.5x
48th		 20.8x
Price / operating cash flow 19.9x 15.7x
58th		 14.5x
Enterprise value $49.1B $6.1B
96th		 $4.8B
EV / sales 4.4x 1.6x
93rd		 2.4x
EV / EBITDA 24.5x 15.4x
84th		 13.6x
EV / EBIT 26.7x 21.4x
75th		 19.9x
EV / free cash flow 22.7x 24.9x
43rd		 24.3x
Earnings yield 2.8% 3.2%
41st		 3.3%
FCF yield 4.3% 3.8%
59th		 3.8%
Operating cash flow yield 5.0% 5.4%
48th		 6.2%
Graham number (per share) $289.04 $41.34
100th		 $38.21

Profitability (TTM)

MeasureFIXIndustry medianIndustry percentileSector median
Gross margin 25.7% 16.4%
81st		 30.5%
EBITDA margin 17.8% 9.6%
85th		 14.3%
Operating margin 16.5% 7.0%
93rd		 9.8%
EBIT margin 16.4% 6.8%
89th		 9.9%
Net margin 12.8% 4.0%
93rd		 6.0%
NOPAT margin 12.9% 6.2%
93rd		 7.8%
FCF margin 19.2% 5.8%
96th		 7.0%
Operating cash flow margin 22.7% 9.3%
96th		 11.2%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 7.0% 7.2%
37th		 14.1%
Stock comp / revenue 0.3% 0.6%
28th		 0.6%
Effective tax rate 21.9% 23.7%
41st		 21.0%

Returns on capital

MeasureFIXIndustry medianIndustry percentileSector median
ROE (on average equity) 55.3% 15.5%
100th		 11.9%
ROA 21.2% 4.7%
96th		 4.8%
ROIC 85.4% 12.5%
100th		 8.7%
ROCE 49.4% 12.0%
100th		 9.4%
Return on tangible assets 27.1% 8.5%
96th		 7.9%
Cash ROIC (OCF / invested capital) 150.8% 17.1%
96th		 12.8%
Gross profitability (GP / assets) 34.0% 18.9%
85th		 19.2%
ROIC, 3-yr average —
ROIC, 5-yr average -29.2% 6.9%
0th		 8.6%
ROE, 5-yr average 30.8% 11.2%
100th		 12.5%
Incremental ROIC 70.0% 43.5%
72nd		 20.5%

Growth

MeasureFIXIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 46.1% 18.5%
88th		 8.6%
Revenue growth (QoQ) 14.0% 14.1%
48th		 9.9%
Revenue CAGR, 3 yr 33.6% 13.9%
96th		 5.0%
Revenue CAGR, 5 yr 32.0% 15.3%
92nd		 8.3%
Gross profit CAGR, 3 yr 50.4% 22.8%
96th		 6.5%
Operating income CAGR, 3 yr 78.6% 33.9%
86th		 6.4%
Net income growth (TTM YoY) 107.2% 35.9%
95th		 11.3%
Net income CAGR, 3 yr 80.6% 23.3%
95th		 6.6%
EPS growth (TTM YoY) 107.9% 29.6%
91st		 13.3%
EPS CAGR, 3 yr 81.7% 22.5%
95th		 5.6%
EPS CAGR, 5 yr 57.7% 18.7%
94th		 8.3%
FCF growth (TTM YoY) 285.0% 14.9%
95th		 14.7%
FCF CAGR, 3 yr 79.0% 28.0%
84th		 12.2%
Operating cash flow CAGR, 3 yr 78.9% 31.3%
86th		 8.8%
Book value CAGR, 3 yr 43.4% 10.1%
100th		 7.3%
Dividend CAGR, 3 yr 20.6% 4.8%
100th		 2.7%
Sustainable growth rate 51.8% 15.4%
100th		 11.0%

Margin history & stability

MeasureFIXIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 22.7% 16.9%
71st		 30.6%
Operating margin, 3-yr average 12.7% 6.4%
92nd		 10.0%
Net margin, 3-yr average 9.6% 3.7%
88th		 6.2%
FCF margin, 3-yr average 12.3% 5.8%
88th		 7.1%
Revenue stability (0-1) 0.92 0.91
58th		 0.81
Earnings stability (0-1) 0.78 0.52
67th		 0.47
Margin stability (0-1) 0.85 0.86
46th		 0.90

Liquidity (latest quarter)

MeasureFIXIndustry medianIndustry percentileSector median
Cash & short-term investments $1.9B $313.8M
96th		 $249.6M
Net cash (− = net debt) $1.5B −$336.6M
96th		 −$666.5M
Working capital $1.0B $431.9M
78th		 $376.4M
Current ratio 1.21 1.38
30th		 1.79
Quick ratio 1.19 1.33
33rd		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.39 0.23
74th		 0.32
Defensive interval (days) 1,853 days 1,326 days
77th		 614 days

Leverage & solvency (latest quarter)

MeasureFIXIndustry medianIndustry percentileSector median
Total debt $328.0M $782.7M
30th		 $919.8M
Debt / equity 0.10 0.69
15th		 0.65
Net debt / equity −0.47 0.59
11th		 0.46
Debt / assets 3.9% 23.7%
11th		 29.3%
Debt / capital 9.3% 40.8%
15th		 39.5%
Debt / EBITDA 0.16 2.54
8th		 2.44
Net debt / EBITDA −0.76 2.12
8th		 1.86
Interest coverage (EBIT / interest) 195.4x 5.8x
96th		 5.0x
Cash interest coverage 271.3x 7.6x
96th		 6.1x
Debt payback (years of OCF) 0.1 yrs 2.9 yrs
4th		 3.2 yrs
Liabilities / assets 62.1% 65.0%
33rd		 56.7%
IS credit model rating AAA — —
Implied credit spread (bps) 50 175
0th		 200

Efficiency

MeasureFIXIndustry medianIndustry percentileSector median
Asset turnover 1.66 1.30
78th		 0.75
Fixed asset turnover 11.78 11.15
56th		 5.14
Inventory turnover 95.1 71.6
64th		 5.0
Receivables turnover 4.1 5.2
19th		 6.7
Days sales outstanding 88 days 70 days
81st		 54 days
Days inventory outstanding 4 days 5 days
40th		 72 days
Days payables outstanding 29 days 37 days
26th		 41 days
Cash conversion cycle (days) 63 days 45 days
78th		 63 days
Capex / revenue 3.5% 1.9%
78th		 3.0%
Capex / depreciation 2.37 0.77
85th		 0.76
Operating expense ratio 8.8% 7.7%
56th		 17.7%

Cash flow & earnings quality

MeasureFIXIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.78 1.68
52nd		 1.50
FCF / net income 1.51 1.20
74th		 1.15
FCF / operating cash flow 84.7% 78.0%
67th		 74.0%
Capex / operating cash flow 15.3% 22.0%
33rd		 26.1%
Accruals ratio -16.5% -4.1%
11th		 -4.0%
Sloan accruals ratio 7.5% -1.6%
93rd		 -2.4%
Earnings quality score (0-1) 0.75 0.75
4th		 1.00

Dividends & buybacks

MeasureFIXIndustry medianIndustry percentileSector median
Dividend yield 0.2% 0.0%
59th		 0.6%
Dividend per share (TTM) $3.00 $0.00
100th		 $0.44
Payout ratio (dividends / net income) 6.4% 2.0%
61st		 22.5%
Dividends / FCF 4.2% 2.1%
57th		 19.6%
Dividend growth (YoY) 72.8% 15.0%
100th		 5.6%
Buyback yield -0.2% 0.4%
4th		 0.5%
Shareholder yield (dividends + buybacks) -0.0% 0.5%
4th		 2.0%
Share count change (YoY) -0.3% 0.2%
40th		 0.0%
Buybacks, last 5 years $106.2M $129.4M
44th		 $76.0M

Scores & forensic checks

MeasureFIXIndustry medianIndustry percentileSector median
IS score 81 59
100th		 53
IS profitability 69 30
100th		 37
IS growth 82 69
100th		 54
IS value 33 31
59th		 47
IS momentum 100 88
76th		 76
IS risk (safety) 100 90
56th		 80
IS quality 90 62
100th		 67
IS balance sheet 84 52
93rd		 56
IS earnings quality 42 67
15th		 70
IS cash flow 87 57
96th		 54
Piotroski F-score (0-9) 9 6
100th		 6
Altman Z-score 10.7 3.8
92nd		 3.3
Beneish M-score −2.79 −2.51
20th		 −2.52
Ohlson O-score −8.46 −7.13
4th		 −7.49
IS credit score 96 69
85th		 65

Per share

MeasureFIXIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $40.69 $2.70
100th		 $2.21
Book value per share $91.26 $20.89
96th		 $18.38
Tangible book per share $44.89 $3.35
100th		 $4.39
Revenue per share $318.49 $91.28
96th		 $36.64
FCF per share $61.26 $4.15
100th		 $2.70
Operating cash flow per share $72.33 $5.90
100th		 $4.28
Cash per share $52.61 $3.92
96th		 $3.02

Size (TTM)

MeasureFIXIndustry medianIndustry percentileSector median
Market cap $50.6B $5.2B
96th		 $3.9B
Revenue $11.2B $4.6B
78th		 $2.7B
EBITDA $2.0B $348.6M
93rd		 $394.8M
Net income $1.4B $172.3M
96th		 $136.3M
Free cash flow $2.2B $286.8M
96th		 $162.9M
Total assets $8.5B $4.5B
78th		 $3.5B
Shareholders' equity $3.2B $1.3B
81st		 $1.4B
Employees 22,700 9,200
67th		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-08-26Lane Brian E.
Director, CHIEF EXECUTIVE OFF.
 Open-market sale 16,024$1,608.21$25.8M145,065
2026-08-17George William Iii
CHIEF FINANCIAL OFFICER
 Open-market sale 2,554$1,859.65$4.7M30,250
2026-08-11Myers Franklin
Director
 Open-market sale 4,000$1,693.92$6.8M8,495
2026-08-10Myers Franklin
Director
 Open-market sale 3,500$1,690.47$5.9M58,615
2026-06-24Myers Franklin
Director
 Open-market sale 6,700$1,954.47$13.1M62,115
2026-05-27Hardy Rhoman J
Director
 Open-market sale 342$1,900.08$649,8271,890
2026-05-21Myers Franklin
Director
 Gift 273——68,815
2026-05-18Anderson Darcy
Director
 Award / grant 105——18,140
2026-05-18Myers Franklin
Director
 Award / grant 105——69,088
2026-05-18Bulls Herman E
Director
 Award / grant 105——29,879
2026-05-18Hardy Rhoman J
Director
 Award / grant 105——2,232
2026-05-18Kapoor Gaurav
Director
 Award / grant 105——832

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAug

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired9945—
GiftDisposed4785—
Open-market saleDisposed1356,856$103.0M
—Disposed20—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 28 notices · 114,326 shares · $168.4M
FiledFilerShares proposedEst. proceeds
2026-08-26Brian E Lane16,024$25.8M
2026-08-17George William Iii2,554$4.7M
2026-08-11Franklin Myers4,000$6.7M
2026-08-10Myers Franklin3,500$5.9M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 6 trades (6 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2025-12-04Byron DonaldsHousePurchase$1,001 - $15,0002026-01-08
2025-12-04Byron DonaldsHousePurchase$1,001 - $15,0002026-01-08
2025-12-04Byron DonaldsHousePurchase$1,001 - $15,0002026-01-08
2025-12-04Byron DonaldsHousePurchase$1,001 - $15,0002026-01-08
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.3,397,683$6.7B9.65%
VANGUARD CAPITAL MANAGEMENT LLC2,297,509$4.6B6.53%
VANGUARD PORTFOLIO MANAGEMENT LLC1,866,170$3.7B5.30%
FMR LLC1,659,799$3.3B4.72%
STATE STREET CORP1,537,139$3.0B4.37%
GEODE CAPITAL MANAGEMENT, LLC1,151,350$2.3B3.27%
JPMORGAN CHASE & CO803,897$1.6B2.28%
Capital World Investors720,244$1.4B2.05%
Invesco Ltd.658,314$1.3B1.87%
NORGES BANK471,564$934.6M1.34%
FIRST TRUST ADVISORS LP375,090$743.4M1.07%
WESTFIELD CAPITAL MANAGEMENT CO LP355,433$704.5M1.01%
FEDERATED HERMES, INC.341,485$676.8M0.97%
PRICE T ROWE ASSOCIATES INC /MD/324,671$643.5M0.92%
Amundi292,904$580.5M0.83%

Institutional ownership by quarter

2023-092026-0693.6%
% of shares held by 13F filers
2023-092026-061,360
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,36093.6%24649949080
2026-03-311,20792.3%24944940272
2025-12-311,04894.7%26535333981
2025-09-3088994.7%21228131173
2025-06-3075796.6%17926723350
2025-03-3163596.2%101276201120
2024-12-3166696.4%13922223649
2024-09-3058994.9%10520321668
2024-06-3055697.7%10517821250
2024-03-3150998.5%11312422546
2023-12-3144699.0%9712918343
2023-09-3039999.4%5113217226

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-06SCHEDULE 13G/AAbigail P. Johnson4.1%1,449,518
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.4%1,891,176
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%2,634,611
2026-02-13SCHEDULE 13G/ACapital World Investors4.7%1,640,532
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.08%$1.8B
VTI0.08%$1.8B
VSMPX0.08%$1.8B
VTSAX0.08%$1.8B
VFIAX0.09%$1.5B
VFFSX0.09%$1.5B

Share structure

Shares outstanding35,194,300
Float34,798,857
Free float98.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$3.1B$4.1B$5.2B$7.0B$9.1B
Cost of revenue$2.5B$3.4B$4.2B$5.6B$6.9B
Gross profit$563.2M$741.6M$990.5M$1.5B$2.2B
R&D$0$0$0$0$0
SG&A$376.3M$489.3M$574.4M$730.1M$883.3M
Operating income$188.4M$253.8M$418.4M$749.4M$1.3B
EBITDA$264.2M$329.3M$478.6M$817.1M$1.4B
Pretax income$190.3M$235.9M$388.2M$666.6M$1.3B
Income tax$46.9M−$10.1M$64.8M$144.1M$270.9M
Net income$143.3M$245.9M$323.4M$522.4M$1.0B
EPS, diluted$3.93$6.82$9.01$14.60$28.88
Diluted shares36.5M36.0M35.9M35.8M35.4M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$58.8M$57.2M$205.2M$549.9M$981.9M
Receivables$923.0M$1.2B$1.6B$2.1B$2.9B
Inventory$21.9M$35.3M$65.5M$59.2M$84.1M
Total current assets$1.0B$1.3B$1.9B$2.8B$4.1B
PP&E, net$253.3M$274.6M$414.3M$506.3M$710.9M
Goodwill & intangibles$896.9M$885.7M$947.2M$1.3B$1.5B
Total assets$2.2B$2.6B$3.3B$4.7B$6.4B
Accounts payable$254.8M$337.4M$420.0M$654.9M$696.3M
Total current liabilities$836.6M$1.2B$1.7B$2.6B$3.4B
Long-term debt$385.2M$247.2M$39.3M$62.3M$441.7M
Total liabilities$1.4B$1.6B$2.0B$3.0B$4.0B
Shareholders' equity$805.7M$999.9M$1.3B$1.7B$2.4B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$143.3M$245.9M$323.4M$522.4M$1.0B
Depreciation & amortization$68.9M$81.3M$81.6M$145.5M$79.6M
Stock-based compensation$10.6M$10.5M$12.9M$16.6M$21.8M
Change in working capital−$57.0M$30.0M$73.5M$107.4M−$67.7M
Operating cash flow$180.2M$301.5M$639.6M$849.1M$1.2B
Capital expenditure−$22.3M−$48.4M−$94.8M−$111.1M−$154.9M
Free cash flow$157.8M$253.2M$544.7M$738.0M$1.0B
Investing cash flow−$246.7M−$97.2M−$193.0M−$343.5M−$467.3M
Net debt issued / repaid$115.5M−$138.2M−$227.0M−$25.9M$56.9M
Buybacks−$27.1M−$38.2M−$21.2M−$57.9M−$216.0M
Dividends paid−$17.4M−$20.1M−$30.4M−$42.8M−$68.8M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin18.3%17.9%19.0%21.0%24.1%
Operating margin6.1%6.1%8.0%10.7%14.4%
Net margin4.7%5.9%6.2%7.4%11.2%
FCF margin5.1%6.1%10.5%10.5%11.3%
ROE19.1%27.2%28.4%35.0%49.2%
ROIC11.3%19.9%26.2%40.1%46.1%
ROA7.2%10.2%11.0%13.0%18.3%
Debt / equity0.640.390.200.180.32
Interest coverage31.5x18.5x38.6x101.0x144.6x
Current ratio1.231.121.111.081.21
Revenue growth+7.6%+34.7%+25.8%+35.0%+29.5%
EPS growth−4.2%+73.9%+31.8%+61.9%+98.3%
P/E at year end24.7x16.6x22.6x28.9x32.2x
EV / EBITDA at year end15.1x13.4x15.4x18.2x22.5x
FCF yield at year end4.46%6.19%7.44%4.88%3.13%
Dividend payout12.1%8.2%9.4%8.2%6.7%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Mechanical Segment——$3.9B$5.5B$6.7B
Mechanical Services$2.5B$3.2B———
Electrical Segment——$1.3B$1.5B$2.4B
Electrical Services$531.0M$961.9M———

Street estimates by fiscal year

Next report 2026-10-22 · consensus EPS $12.85 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$13.0B$12.9B – $13.1B$49.06$45.98 – $49.99629.3x
2027$15.5B$14.0B – $16.4B$60.22$52.44 – $64.22823.9x
2028$18.1B$17.2B – $18.8B$74.39$68.58 – $78.29119.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-23$10.45$12.53+19.9%$3.0B$3.3B+9.2%
2026-04-23$6.81$10.51+54.3%$2.4B$2.9B+19.7%
2026-02-19$6.75$9.37+38.8%$2.3B$2.6B+13.2%
2025-10-23$6.29$8.25+31.2%$2.2B$2.5B+13.6%
2025-07-24$4.84$6.53+34.9%$2.0B$2.2B+10.3%
2025-04-24$3.66$4.75+29.8%$1.8B$1.8B+3.7%
2025-02-20$3.63$4.09+12.7%$1.8B$1.9B+5.6%
2024-10-24$3.97$4.09+3.0%$1.8B$1.8B+3.4%
2024-07-25$3.14$3.74+19.1%$1.7B$1.8B+7.3%
2024-04-25$2.01$2.69+33.8%$1.5B$1.5B+3.8%
2024-02-22$2.20$2.55+15.9%$1.3B$1.4B+2.1%
2023-10-26$2.15$2.74+27.4%$1.3B$1.4B+6.2%
2023-07-26$1.60$1.93+20.6%$1.3B$1.3B+2.0%
2023-04-26$1.06$1.51+42.5%$1.1B$1.2B+8.5%
2023-02-22$1.39$1.54+10.8%$1.1B$1.1B+3.3%
2022-10-26$1.37$1.67+21.9%$1.0B$1.1B+6.8%
2022-07-27$0.99$1.17+18.2%$912.1M$1.0B+11.6%
2022-04-27$0.91$0.910.0%$825.4M$885.2M+7.2%
2022-02-23$1.04$1.040.0%$806.5M$856.1M+6.1%
2021-10-27$0.99$1.27+28.3%$768.5M$833.9M+8.5%
2021-07-28$0.91$0.90−1.1%$713.9M$713.9M0.0%
2021-04-28$0.61$0.73+19.7%$694.9M$669.8M−3.6%
2021-02-25$0.83$1.17+41.0%$694.7M$699.0M+0.6%
2020-10-26$1.03$1.19+15.5%$540.8M$714.1M+32.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.706-151.406-221.006-291.107-060.907-131.307-201.607-271.008-030.808-100.908-170.808-240.708-31
Week ofNotionalSharesTrades
2026-08-31$703.6M451,03449,606
2026-08-24$792.9M499,13950,763
2026-08-17$927.0M537,62949,310
2026-08-10$763.0M441,38046,744
2026-08-03$965.5M553,13957,291
2026-07-27$1.6B973,31684,692

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1533.2%
DateShort shareShort volumeTotal volume
2026-10-1533.2%115,964349,541
2026-10-1464.9%120,180185,106
2026-10-1352.9%98,908186,843
2026-10-1261.5%67,722110,091
2026-10-0959.8%58,57297,960
2026-10-0857.9%82,244142,164
2026-10-0759.4%110,124185,269
2026-10-0642.3%89,575211,638
2026-10-0548.2%49,480102,558
2026-10-0252.2%58,409111,915
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.5Jan+3.8Feb+2.0Mar+0.9Apr+1.0May+2.7Jun+5.2Jul+1.5Aug+0.5Sep+7.5Oct+3.4Nov+3.6Dec
MonthAvg returnUp yearsYears
Jan+0.5%50%20
Feb+3.8%55%20
Mar+2.0%62%21
Apr+0.9%50%20
May+1.0%55%20
Jun+2.7%70%20
Jul+5.2%55%20
Aug+1.5%60%20
Sep+0.5%45%20
Oct+7.5%70%20
Nov+3.4%60%20
Dec+3.6%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1431.8
MFI31.0
ADX17.3
Stochastic %K / %D13.4 / 17.1
Williams %R-89.0
CCI-217
TSI / signal-10.6 / 1.0
Chaikin money flow0.18
ATR$80.51
Bollinger width20.5%
Volume vs 20-day avg0.92x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$1,649.87 (−12.8%)
SMA 50$1,644.52 (−12.5%)
SMA 200$1,590.68 (−9.5%)
EMA 21$1,625.99 (−11.5%)
EMA 50$1,653.77 (−13.0%)
EMA 200$1,530.63 (−6.0%)
Bollinger upper$1,818.92 (−20.9%)
Bollinger lower$1,480.82 (−2.8%)
Parabolic SAR$1,768.70 (−18.6%)
Open the live chart, 110+ indicators

About Comfort Systems USA, Inc.

Comfort Systems USA, Inc., together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. The company operates through two segments: Mechanical and Electrical. It offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection. The company is also involved in the design, engineering, integration, installation, and start-up of mechanical, electrical, and plumbing (MEP) and related systems in new buildings; and renovation, expansion, maintenance, monitoring, repair, and replacement of systems in existing buildings. In addition, it provides remote monitoring of power usage, temperature, pressure, humidity and air flow for MEP and other building systems. The company serves building owners and developers, general contractors, architects, consulting engineers, and property managers in the commercial, industrial, and institutional markets. Comfort Systems USA, Inc. was founded in 1917 and is headquartered in Houston, Texas.

http://www.comfortsystemsusa.com

Key executives

NameTitlePayBorn
Brian E. LaneCEO & Director$4.4M1957
William GeorgeExecutive Vice President & Chief Financial Officer$2.3M1965
Trent T. McKennaPresident$2.1M1973
Laura Finley HowellSenior Executive Advisor$1.4M1988
Terrence ReedSenior Vice President & Chief Human Resources Officer$1.1M1960
Julie S. ShaeffSenior Vice President & Chief Accounting Officer$996,6811966
Brian EvansRegional President$898,879—
R. Dean TillisonRegional President$898,879—

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Brian Lane President and Chief Executive Officer2025$1.2M$6.2M$3.1M$10.6M
William George Executive Vice President and Chief Financial Officer2025$775,000$1.5M$1.5M$3.9M
Trent McKenna Executive Vice President and Chief Operating Officer2025$725,000$1.4M$1.4M$3.6M
Laura Howell Senior Vice President, General Counsel, and Secretary2025$575,000$862,431$852,668$2.3M
Terrence Reed Senior Vice President and Chief Human Resources Officer2025$450,000$472,220$667,305$1.6M

Employees

10k201812k201911k202013k202114k202216k202318k202423k2025

Dividends

Ex-dateAmountPaid
2026-08-13$0.92026-08-24
2026-05-15$0.82026-05-26
2026-03-06$0.72026-03-17
2025-11-13$0.62025-11-24
2025-08-14$0.52025-08-25
2025-05-16$0.452025-05-27
2025-03-10$0.42025-03-21
2024-11-14$0.352024-11-25

Moat model

Narrow · Network Effects · 2026-06-30
Cost advantage73
Intangibles69
Switching costs53
Network effect75
Efficient scale70
Our component scores (0-100) and overall 66.9; 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

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms