EME

EMCOR Group, Inc.

Materials • CIK: 0000105634

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Market Cap
$32.25B
P/E (TTM)
—
Rev Growth (TTM)
—
Net Margin (TTM)
—
FCF Yield (TTM)
—
FCF Margin (TTM)
0.0%

Filing Intelligence

6.0/10
10-K filed Feb 26, 2026 • FY 2025

Executive Summary

The company is actively returning capital to shareholders through increasing dividends and share repurchases, signaling confidence in future performance.. Surety bond exposure totals $3.03 billion,...

Key Concerns

  • ●While overall margins improved, concerns exist regarding labor productivity in new geographies and completion of major projects in the...
  • ●Strategic focus includes continued investment in acquisitions and IT initiatives, while navigating potential macroeconomic headwinds and...
  • ●Significant positive impact from revisions to estimates on completed projects.

Key Strengths

  • ●The company achieved record revenues and operating income in 2025, driven by strong demand across most sectors and successful integration...
  • ●Operating cash flow saw a year-over-year decrease due to increased working capital needs on construction projects, though liquidity remains...
View Full Quarterly Insights →

LATEST EARNINGS

•
Q4 FY2025
•
about 1 month ago
•View source
Revenue
$4.51B
+19.7%
Net Income
$434.61M
+48.7%
EPS
$9.68
+53.2%
Gross
19.8%↓ -0.3%
Operating
12.7%↑ +2.4%
Net
9.6%↑ +1.9%
  • •Record fourth quarter revenues of $4.51 billion, an increase of 19.7% year-over-year.
  • •Record full-year 2025 revenues of $16.99 billion, an increase of 16.6% year-over-year.
  • •Record fourth quarter diluted EPS of $9.68, up from $6.32 in the prior year.
  • •Record full-year 2025 diluted EPS of $28.19, up from $21.52 in the prior year.
View Full Earnings →

Cash Flow Health

Free Cash Flow7/8 positive
TTM$0
Q4 '25
$0-100%
Q3 '25
$492M+10%
FCF Margin
TTM0.0%
Q4 '250.0%-100%
Sector: 0.4%Below Avg
OCF Margin–
OCF/NI–
CapEx Coverage–
FCF Yield–
FCF Growth (2Y)–
Cash Conversion Cycle
–
View Insights from Latest Filing →View Full Cash Flow Statement →

Capital Allocation & Returns

Total Shareholder YieldFY
FY0.0%
Div Yield0.0%
+
Buyback (FY)2.1%

Insufficient data

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$0
Stock Repurchases (FY)$586.3M
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
–
Moderate
-31.1%
P25MedianP75
(med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.00x
8Q: 2.02x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Asset-based ROIC formula
Full Analysis

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024
Revenue
N/A
$4.5B↑4.9%
$4.3B↓0.1%
$4.3B↑11.3%
$3.9B↑2.6%
$3.8B↑2.0%
$3.7B↑0.8%
$3.7B↑6.8%
$3.4B
Operating Income
$0
$0↓100.0%
$21.3M↓94.7%
$405.7M↓2.3%
$415.2M↑30.3%
$318.8M↓18.0%
$388.6M↑6.9%
$363.5M↑9.2%
$332.8M
Net Income
N/A
$434.6M↑47.1%
$295.4M↓2.2%
$302.2M↑25.5%
$240.7M↓17.6%
$292.2M↑8.1%
$270.3M↑9.2%
$247.6M↑25.6%
$197.1M
Operating Cash Flow
N/A
$524.4M↑10.3%
$475.5M↑145.5%
$193.7M↑78.6%
$108.5M↓76.9%
$469.5M↓10.8%
$526.4M↑88.2%
$279.7M↑111.5%
$132.3M
Free Cash Flow
$0
$0↓100.0%
$492.5M↑9.7%
$448.8M↑171.0%
$165.6M↑101.2%
$82.3M↓81.8%
$451.8M↓11.2%
$508.7M↑95.3%
$260.4M
Total Equity
N/A
Income StatementCash Flow StatementBalance Sheet

Valuation Analysis

Price-to-EarningsTTM
–
Valuation Lenses
Earnings
–
vs – sector
Cash Flow
0.0x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$32.25B
EV$0
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
29/100
Below Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
-31.1%
vs Sector:0.0%

Earnings Quality

Cash Conversion

–

OCF / Net Income

FCF Consistency

–

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin–

Capital Efficiency

Invested Capital Turnover–

Working Capital

Cash Conversion Cycle–

Growth Quality & Momentum

Growth Rates

Revenue Growth YoY
N/A
OpInc Growth YoY
-100.0%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
—
Operating
—
Net
—
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
—
FCF: 0.0% | Net: —

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.11B
Interest Coverage
–
+Net cash position: $1.11B
Balance sheet risk & solvency analysis

Research

All research