FIX
COMFORT SYSTEMS USA INC
Materials • CIK 0001035983
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Market Cap
$48.64B
P/E (TTM)
39.7x
Rev Growth (TTM)
-60.9%
Net Margin (TTM)
42.7%
FCF Yield (TTM)
2.8%
FCF Margin (TTM)
48.3%
Filings your agent reads
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
8-KJun 20261 week agosource
8-KMay 20262026-05-21source
8-KMay 20262026-05-01source
10-QQ1 20262026-04-23source
8-KEarnings2026-04-23source
Point your agent at FIX and it navigates these the same way — citing each number back to the filing.
Cash Flow Health
Free Cash Flow7/8 positive
TTM$1.4B
Q1 '26
$241M-40%
Q4 '25
$402M-22%
FCF Margin
TTM48.3%
Q1 '268.4%+197%
Sector: 0.3%Top 10%
OCF Margin58.0%
OCF/NI1.36x
CapEx Coverage5.9x
FCF Yield2.8%
FCF Growth (2Y)+65%
Cash Conversion Cycle
199 days
DSO: 297+DIO: 13−DPO: 111
Capital Allocation & Returns
Accumulating Cash
Total Shareholder YieldTTM
TTM0.4%
Div Yield0.2%
+Buyback (TTM)0.3%
Limited capital returns
Dividend & Payout Metrics
Dividend Yield (TTM)0.2%
FCF Payout Ratio5.7%
Free Cash Flow (TTM)$1.4B
Stock Repurchases (TTM)$127.2M
Capital Return / FCF14.9%
Est. Dividends Paid (TTM)$79.3M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
10.2%
Volatile
-0.2% YoY-46.9%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
9.3%
8Q: 10.1%
Asset Turnover
0.50x
8Q: 1.70x
Leverage (1+D/E)
1.01x
D/E: 0.01x
DuPont: 4.7% ≈ 10.2% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
7.95x
8Q:28.51x
-3615.1%
Invested Cap Turn
1.09x
8Q:3.84x
-451.2%
CapEx Intensity
10.7%
8Q:5.8%
CapEx/Depreciation
7.19x
Depreciation Rate Trend
⚠ Declining -17.2%
Asset-based ROIC formula
Valuation Analysis
Fair Value
Price-to-EarningsTTM
39.7x
Volatile
8Q: 97.3x+3124%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
39.7x
vs – sector
Cash Flow
34.7x
EV/FCF vs –
Growth-Adj
0.4xPEG
Undervalued for growth
Quality-Adj
3.9P/E per %ROIC
ROIC: 10.2%
Shareholder Returns
Dividend
0.2%
Buyback
0.3%
Total Yield
0.4%
Market Cap$48.64B
EV$48.04B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
70/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
54.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
10.2%
8Q:–
-46.9%
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 9.3%
Asset Turnover: 0.50x
Earnings Quality
Cash Conversion
1.36x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin26.3%
Capital Efficiency
Invested Capital Turnover1.09x
Working Capital
Cash Conversion Cycle199 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
40/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-60.9%
OpInc Growth YoY
132.3%
EPS Growth YoY
107.8%
FCF 3Y CAGR
64.8%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
26.3%
Operating
17.0%
Top 25% in sector
Net
42.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+5.6 pts
FCF: 48.3% | Net: 42.7%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.01B
Interest Coverage
–
+Net cash position: $1.01B
Leverage Metrics
Debt-to-Equity
0.01x
Balance sheet risk & solvency analysis