IES Holdings, Inc. designs and installs integrated electrical and technology systems and provides infrastructure products and services in the United States. The Communications segment designs, builds, and maintains communications infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities. It also designs and installs audio/visual, telephone, fire, and wireless access and intrusion alarm systems; and engages in designing/building, servicing, and maintaining data network systems. The Residential segment offers electrical installations to single-family housing and multi-family apartments; heating, ventilation and air conditioning and plumbing installation services; and cable television installations to residential and light commercial applications, as well as installs residential solar power for new construction and existing residences. The Infrastructure Solutions segment maintains and repairs alternating and direct current electric motors and generators, and power generating and distribution equipment; manufactures custom-engineered metal enclosed bus duct solutions used in power distribution; manufactures custom commercial and industrial generator enclosures; manufactures, re-manufactures, and repairs industrial lifting magnets; and maintains and repairs railroad main and auxiliary generators, main alternators, and traction motors. The Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, wind farms, solar facilities, municipal infrastructures, and health care facilities. The company was formerly known as Integrated Electrical Services, Inc. and changed its name to IES Holdings, Inc. in May 2016. IES Holdings, Inc. was incorporated in 1997 and is headquartered in Sugar Land, 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 | $3.4B | $442M | $306M | $219M | 34.5% | 16.9% | 39.6% |
| 2024 | $2.9B | $343M | $219M | $189M | 33.6% | 21.3% | 102.3% |
| 2023 | $2.4B | $191M | $108M | $136M | 21.7% | 9.7% | 211.5% |
| 2022 | $2.2B | $81M | $35M | $-13M | 8.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,166.81 | 2,377.23 | 2,884.36 | 3,371.47 |
| Cost Of Revenue | 1,847.88 | 1,932.69 | 2,187.77 | 2,511.97 |
| Gross Profit | 318.93 | 444.54 | 696.59 | 859.50 |
| Operating Expense | 262.71 | 298.62 | 396.68 | 474.98 |
| Operating Income | 56.22 | 145.91 | 299.91 | 384.52 |
| EBITDA | 81.24 | 190.71 | 342.82 | 442.17 |
| EBIT | 55.77 | 161.30 | 305.72 | 395.22 |
| Pretax Income | 53 | 158.55 | 304.67 | 393.88 |
| Tax Provision | 12.81 | 38.76 | 72.17 | 96.81 |
| Net Income | 34.76 | 108.29 | 219.12 | 305.98 |
| Net Income Common Stockholders | 30.05 | 92.58 | 201.98 | 303.06 |
| Total Expenses | 2,110.59 | 2,231.31 | 2,584.45 | 2,986.95 |
| Interest Expense | 2.77 | 2.75 | 1.05 | 1.34 |
| Interest Income | 0.01 | 0.56 | 4.04 | 2.92 |
| Selling General And Administration | 262.71 | 298.62 | 396.68 | 474.98 |
| Normalized EBITDA | 81.45 | 176.85 | 341.85 | 443.15 |
| Normalized Income | 34.92 | 97.81 | 218.38 | 306.72 |
| Basic EPS | 1.45 | 4.58 | 10.02 | 15.22 |
| Diluted EPS | 1.44 | 4.54 | 9.89 | 15.02 |
| Tax Effect Of Unusual Items | -0.05 | 3.39 | 0.23 | -0.24 |
| Tax Rate For Calcs | 0.24 | 0.24 | 0.24 | 0.25 |
| Total Unusual Items | -0.21 | 13.86 | 0.97 | -0.99 |
| Total Unusual Items Excluding Goodwill | -0.21 | 13.86 | 0.97 | -0.99 |
| Net Income From Continuing Operation Net Minority Interest | 34.76 | 108.29 | 219.12 | 305.98 |
| Reconciled Depreciation | 25.47 | 29.41 | 37.10 | 46.94 |
| Reconciled Cost Of Revenue | 1,847.88 | 1,932.69 | 2,187.77 | 2,511.97 |
| Net Interest Income | -2.96 | -2.46 | 2.70 | 1.11 |
| Net Income From Continuing And Discontinued Operation | 34.76 | 108.29 | 219.12 | 305.98 |
| Total Operating Income As Reported | 56.01 | 159.78 | 300.88 | 383.53 |
| Diluted Average Shares | 20.89 | 20.41 | 20.41 | 20.18 |
| Basic Average Shares | 20.67 | 20.20 | 20.16 | 19.92 |
| Diluted NI Availto Com Stockholders | 30.05 | 92.58 | 201.98 | 303.06 |
| Otherunder Preferred Stock Dividend | 4.72 | 15.71 | 17.14 | 2.92 |
| Minority Interests | -5.42 | -11.50 | -13.38 | -5.87 |
| Net Income Including Noncontrolling Interests | 40.19 | 119.79 | 232.50 | 311.84 |
| Net Income Continuous Operations | 40.19 | 119.79 | 232.50 | 311.84 |
| Earnings From Equity Interest Net Of Tax | 0 | 0 | 0 | 14.76 |
| Other Income Expense | -0.26 | 15.09 | 2.06 | 8.26 |
| Other Non Operating Income Expenses | -0.05 | 1.23 | 1.09 | 9.24 |
| Special Income Charges | -0.21 | 13.86 | 0.97 | -0.99 |
| Gain On Sale Of Ppe | 0.07 | 14.14 | 1.68 | 0.15 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0.28 | 0.28 | 0.71 | 1.15 |
| Net Non Operating Interest Income Expense | -2.96 | -2.46 | 2.70 | 1.11 |
| Total Other Finance Cost | 0.20 | 0.27 | 0.29 | 0.47 |
| Interest Expense Non Operating | 2.77 | 2.75 | 1.05 | 1.34 |
| Interest Income Non Operating | 0.01 | 0.56 | 4.04 | 2.92 |
| Operating Revenue | 2,166.81 | 2,377.23 | 2,884.36 | 3,371.47 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| IES Holdings, Inc.this co. | IESC | $11.4B | 34.01β discount | 11.86 | 34.5% | 24.57 |
| Advanced Energy Industries, Inc. | AEIS | $13.7B | 93.38 | 10.02 | 10.9% | 52.94 |
| Planet Labs PBC | PL | $11.8B | - | 60.64 | -131.0% | -258.32 |
| Dycom Industries, Inc. | DY | $11.7B | 40.83 | 6.29 | 15.1% | 19.58 |
| Kratos Defense & Security Solutions, Inc. | KTOS |
| $11.2B |
| 458.15 |
| 5.04 |
| 1.1% |
| 130.08 |
| SPX Technologies, Inc. | SPXC | $10.6B | 41.85 | 4.71 | 10.9% | 23.01 |
| Chart Industries, Inc. | GTLS | $10.0B | 630.00 | 3.08 | 1.2% | 14.27 |
| Watts Water Technologies, Inc. | WTS | $9.9B | 29.23 | 4.89 | 16.8% | 18.53 |
| AeroVironment, Inc. | AVAV | $9.3B | - | 2.14 | 4.9% | 61.93 |
| Peer Median | - | 67.62 | 4.96 | 7.9% | 21.30 | |