Loading…
EMCOR Group, Inc. provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, startup, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and piping systems; control and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging; millwright; and steel fabrication, erection, and welding services. The company also provides site-based operations and maintenance; facility management and maintenance; energy retrofit; military base operations support; indoor air quality; floor care and janitorial; landscaping, lot sweeping, and snow removal; vendor management and call center; installation and support for building systems; program development, management, and maintenance for energy systems; technical consulting and diagnostic; infrastructure and building projects; modification and retrofit projects; and reception, security, and catering services. In addition, it offers refinery turnaround planning and engineering; welding; overhaul and maintenance; technical; instrumentation, controls, and electrical; electrical panel design, fabrication, and installation; on-site repair and maintenance; and renewable energy services, as well as design, manufacturing, repair, and hydro blast cleaning services. The company was incorporated in 1987 and is headquartered in Norwalk, Connecticut.
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 | $17.0B | $1.9B | $1.3B | $1.2B | 34.6% | 16.6% | 26.4% |
| 2024 | $14.6B | $1.5B | $1.0B | $1.3B | 34.3% | 15.8% | 59.1% |
| 2023 | $12.6B | $1.0B | $633M | $821M | 25.6% | 13.6% | 55.9% |
| 2022 | $11.1B | $681M | $406M | $449M | 20.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11,076.12 | 12,582.87 | 14,566.12 | 16,986.42 |
| Operating Revenue | - | 11,076.12 | 12,582.87 | 14,566.12 | 16,986.42 |
| Cost Of Revenue | - | 9,472.53 | 10,493.53 | 11,801.06 | 13,703.43 |
| Gross Profit | - | 1,603.59 | 2,089.34 | 2,765.05 | 3,282.99 |
| Operating Expense | - | 1,038.72 | 1,211.23 | 1,420.19 | 1,714.45 |
| Selling General And Administration | - | 1,038.72 | 1,211.23 | 1,420.19 | 1,714.45 |
| Total Expenses | - | 10,511.24 | 11,704.77 | 13,221.25 | 15,417.88 |
| Operating Income | - | 564.88 | 878.11 | 1,344.86 | 1,568.54 |
| Total Operating Income As Reported | - | 564.88 | 875.76 | 1,344.86 | 1,713.42 |
| EBITDA | - | 680.56 | 1,009.02 | 1,514.84 | 1,920.06 |
| Normalized EBITDA | - | 680.56 | 1,011.37 | 1,514.84 | 1,775.19 |
| EBIT | - | 571.95 | 890.05 | 1,381.16 | 1,733.64 |
| Interest Income | - | 2.76 | 15.42 | 35.40 | 20.02 |
| Interest Expense | - | 13.20 | 17.20 | 3.78 | 12.02 |
| Net Interest Income | - | -10.44 | -1.78 | 31.62 | 8 |
| Other Non Operating Income Expenses | - | 4.31 | -1.12 | 0.89 | 0.21 |
| Other Income Expense | - | 4.31 | -3.47 | 0.89 | 145.09 |
| Interest Income Non Operating | - | 2.76 | 15.42 | 35.40 | 20.02 |
| Interest Expense Non Operating | - | 13.20 | 17.20 | 3.78 | 12.02 |
| Net Non Operating Interest Income Expense | - | -10.44 | -1.78 | 31.62 | 8 |
| Tax Provision | - | 152.63 | 239.52 | 370.24 | 448.81 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -0.65 | 0 | 37.77 |
| Net Income Continuous Operations | - | 406.12 | 633.33 | 1,007.14 | 1,272.82 |
| Net Income From Continuing And Discontinued Operation | - | 406.12 | 632.99 | 1,007.14 | 1,272.82 |
| Net Income From Continuing Operation Net Minority Interest | - | 406.12 | 632.99 | 1,007.14 | 1,272.82 |
| Net Income | - | 406.12 | 632.99 | 1,007.14 | 1,272.82 |
| Net Income Common Stockholders | - | 406.12 | 632.99 | 1,007.14 | 1,272.82 |
| Net Income Including Noncontrolling Interests | - | 406.12 | 633.33 | 1,007.14 | 1,272.82 |
| Normalized Income | - | 406.12 | 634.70 | 1,007.14 | 1,165.71 |
| Diluted NI Availto Com Stockholders | - | 406.12 | 632.99 | 1,007.14 | 1,272.82 |
| Basic Average Shares | - | 49.93 | 47.36 | 46.62 | 44.98 |
| Diluted Average Shares | - | 50.14 | 47.56 | 46.81 | 45.15 |
| Reconciled Depreciation | - | 108.61 | 118.96 | 133.68 | 186.42 |
| Reconciled Cost Of Revenue | - | 9,472.53 | 10,493.53 | 11,801.06 | 13,703.43 |
| Total Unusual Items | - | 0 | -2.35 | 0 | 144.88 |
| Total Unusual Items Excluding Goodwill | - | 0 | -2.35 | 0 | 144.88 |
| Minority Interests | - | 0 | -0.34 | 0 | 0 |
| Special Income Charges | - | 0 | -2.35 | 0 | 144.88 |
| Gain On Sale Of Business | - | - | 0 | 0 | 144.88 |
| Impairment Of Capital Assets | - | 0 | 2.35 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | - | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| EMCOR Group, Inc.this co. | EME | $37.6B | 29.58 | 10.25 | 34.6% | 19.27 |
| Ferrovial SE | FER | $47.6B | 53.61 | 8.06 | 15.0% | 27.07 |
| Westinghouse Air Brake Technologies Corporation | WAB | $44.5B | 38.07 | 4.00 | 10.5% | 21.69 |
| Axon Enterprise, Inc. | AXON | $41.4B | 331.83 | 12.76 | 3.8% | 214.25 |
| Thomson Reuters Corporation | TRI | $37.4B |
| - |
| - |
| - |
| - |
| - |
| 24.99 |
| 3.14 |
| 12.6% |
| 12.91 |
| United Airlines Holdings, Inc. | UAL | $34.1B | 10.16 | 2.23 | 21.9% | 7.03 |
| Dover Corporation | DOV | $28.7B | 26.28 | 3.88 | 14.8% | 16.44 |
| Copart, Inc. | CPRT | $28.5B | 18.35 | 3.10 | 16.9% | 13.48 |
| Ingersoll Rand Inc. | IR | $28.2B | 48.47 | 2.79 | 5.8% | 18.75 |
| Peer Median | - | 32.17 | 3.51 | 13.7% | 17.60 | |