Loading…
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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $9.1B | $1.4B | $1.0B | $1.0B | 41.8% | 29.5% | 95.7% |
| 2024 | $7.0B | $817M | $522M | $738M | 30.6% | 35.0% | 61.5% |
| 2023 | $5.2B | $479M | $323M | $545M | 25.3% | 25.8% | 31.5% |
| 2022 | $4.1B | $329M | $246M | $253M | 24.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,140.36 | 5,206.76 | 7,027.48 | 9,101.64 |
| Operating Revenue | - | 4,140.36 | 5,206.76 | 7,027.48 | 9,101.64 |
| Cost Of Revenue | - | 3,398.76 | 4,216.25 | 5,551.06 | 6,905.74 |
| Gross Profit | - | 741.61 | 990.51 | 1,476.41 | 2,195.90 |
| Operating Expense | - | 489.34 | 574.42 | 730.07 | 883.28 |
| Selling General And Administration | - | 489.34 | 574.42 | 730.07 | 883.28 |
| Total Expenses | - | 3,888.10 | 4,790.67 | 6,281.14 | 7,789.03 |
| Operating Income | - | 252.26 | 416.09 | 746.34 | 1,312.62 |
| Total Operating Income As Reported | - | 253.85 | 418.39 | 749.37 | 1,314.59 |
| EBITDA | - | 329.30 | 478.63 | 817.10 | 1,442.39 |
| Normalized EBITDA | - | 332.54 | 499.94 | 902.21 | 1,473.89 |
| EBIT | - | 247.96 | 397.07 | 671.61 | 1,300.43 |
| Interest Income | - | 0.38 | 3.49 | 11.55 | 21.60 |
| Interest Expense | - | 12.10 | 8.87 | 5.05 | 6.98 |
| Net Interest Income | - | -13.31 | -6.79 | 4.91 | 12.60 |
| Other Non Operating Income Expenses | - | 0.13 | 0.20 | 0.43 | -0.26 |
| Other Income Expense | - | -3.10 | -21.10 | -84.68 | -31.76 |
| Interest Income Non Operating | - | 0.38 | 3.49 | 11.55 | 21.60 |
| Interest Expense Non Operating | - | 12.10 | 8.87 | 5.05 | 6.98 |
| Net Non Operating Interest Income Expense | - | -13.31 | -6.79 | 4.91 | 12.60 |
| Pretax Income | - | 235.86 | 388.19 | 666.56 | 1,293.45 |
| Tax Provision | - | -10.09 | 64.80 | 144.13 | 270.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.68 | -3.56 | -18.39 | -6.58 |
| Net Income Continuous Operations | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Net Income From Continuing And Discontinued Operation | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Net Income From Continuing Operation Net Minority Interest | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Net Income | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Net Income Common Stockholders | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Net Income Including Noncontrolling Interests | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Normalized Income | - | 248.50 | 341.15 | 589.16 | 1,047.47 |
| Diluted NI Availto Com Stockholders | - | 245.95 | 323.40 | 522.43 | 1,022.56 |
| Basic Average Shares | - | 35.93 | 35.80 | 35.69 | 35.35 |
| Diluted Average Shares | - | 36.05 | 35.90 | 35.78 | 35.41 |
| Reconciled Depreciation | - | 81.35 | 81.57 | 145.49 | 141.96 |
| Reconciled Cost Of Revenue | - | 3,398.76 | 4,216.25 | 5,551.06 | 6,905.74 |
| Total Unusual Items | - | -3.23 | -21.30 | -85.12 | -31.50 |
| Total Unusual Items Excluding Goodwill | - | -3.23 | -21.30 | -85.12 | -31.50 |
| Special Income Charges | - | -3.23 | -21.30 | -85.12 | -31.50 |
| Restructuring And Mergern Acquisition | - | 4.82 | 23.61 | 88.15 | 33.47 |
| Gain On Sale Of Ppe | - | 1.58 | 2.30 | 3.03 | 1.97 |
| Total Other Finance Cost | - | 1.59 | 1.41 | 1.60 | 2.03 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Comfort Systems USA, Inc.this co. | FIX | $67.4B | 65.88↑ premium | 27.51 | 41.8% | 46.36 |
| Illinois Tool Works Inc. | ITW | $72.2B | 23.56 | 22.40 | 95.1% | 17.32 |
| Cintas Corporation | CTAS | $72.0B | 39.73 | 15.37 | 38.7% | 26.02 |
| Norfolk Southern Corporation | NSC | $69.0B | 24.01 | 4.44 | 18.5% | 14.49 |
| TransDigm Group Incorporated | TDG |
| - |
| - |
| - |
| - |
| - |
| - |
| $68.7B |
| 33.12 |
| -7.09 |
| -21.4% |
| 21.00 |
| United Rentals, Inc. | URI | $67.9B | 27.24 | 7.58 | 27.8% | 11.61 |
| Republic Services, Inc. | RSG | $64.0B | 29.90 | 5.34 | 17.9% | 15.25 |
| PACCAR Inc | PCAR | $62.1B | 26.15 | 3.23 | 12.3% | 18.86 |
| W.W. Grainger, Inc. | GWW | $60.9B | 35.68 | 16.29 | 45.7% | 22.84 |
| Peer Median | - | 28.57 | 6.46 | 23.1% | 18.09 | |