Cash flow EMCOR Group, Inc.

Equities

EME

US29084Q1004

Construction & Engineering

Market Closed - Nyse Other stock markets 21:00:02 05/06/2026 BST			5-day change	1st Jan Change
817.44 ^USD	-3.31%		-1.13%	+33.61%

06-02	EMCOR Group, Inc. Presents at 46th Annual William Blair Growth Stock Conference, Jun-02-2026 11:20 AM
05-28	Good Data, Bad Timing

0.IJf1YpA9yTAzQ5QC9AG1RMoImwBegCbDN1LA8q9nzdQ.Fs6CUN1LjWZ0M-ExljGNHKZyzXUuwmXufAG5q_4EoI5H3pYlwVmcBmU1xQ

Published financial data: EMCOR GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	9.9B	11.08B	12.58B	14.57B	16.99B
Total Revenues	9.9B	11.08B	12.58B	14.57B	16.99B
Cost of Goods Sold, Total	8.4B	9.47B	10.49B	11.8B	13.7B
Gross Profit	1.5B	1.6B	2.09B	2.77B	3.28B
Selling General & Admin Expenses, Total	963M	1.03B	1.21B	1.41B	1.68B
Amortization of Goodwill and Intangible Assets - (IS)	4.3M	4.5M	-	6.7M	22.5M
Other Operating Expenses, Total	967M	1.03B	1.21B	1.42B	1.7B
Operating Income	534M	569M	877M	1.35B	1.58B
Interest Expense, Total	-6.07M	-13.2M	-17.2M	-3.78M	-12.02M
Interest And Investment Income	949K	2.76M	15.42M	35.4M	20.02M
Net Interest Expenses	-5.12M	-10.44M	-1.78M	31.62M	8M
EBT, Excl. Unusual Items	529M	559M	875M	1.38B	1.59B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-9.4M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	145M
Asset Writedown	-	-	-2.35M	-	-
EBT, Incl. Unusual Items	529M	559M	873M	1.38B	1.72B
Income Tax Expense	146M	153M	240M	370M	449M
Earnings From Continuing Operations	384M	406M	633M	1.01B	1.27B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	384M	406M	633M	1.01B	1.27B
Minority Interest	-169K	-	-335K	-	-
Net Income - (IS)	384M	406M	633M	1.01B	1.27B
Net Income to Common Incl Extra Items	384M	406M	633M	1.01B	1.27B
Net Income to Common Excl. Extra Items	384M	406M	633M	1.01B	1.27B
Per Share Items
Net EPS - Basic	7.09	8.13	13.37	21.61	28.3
Basic EPS - Continuing Operations	7.09	8.13	13.37	21.61	28.3
Basic Weighted Average Shares Outstanding	54.07M	49.93M	47.36M	46.62M	44.98M
Net EPS - Diluted	7.06	8.1	13.31	21.52	28.19
Diluted EPS - Continuing Operations	7.06	8.1	13.31	21.52	28.19
Diluted Weighted Average Shares Outstanding	54.35M	50.14M	47.56M	46.81M	45.15M
Normalized Basic EPS	6.12	6.99	11.54	18.47	22.04
Normalized Diluted EPS	6.08	6.97	11.49	18.39	21.96
Dividend Per Share	0.52	0.56	0.72	1	1.15
Payout Ratio	7.34	6.69	5.16	4.31	3.54
Supplemental Items
EBITDA	647M	678M	996M	1.48B	1.76B
EBITA	599M	631M	944M	1.42B	1.7B
EBIT	534M	569M	877M	1.35B	1.58B
EBITDAR	874M	943M	1.32B	1.88B	2.27B
Effective Tax Rate - (Ratio)	27.51	27.32	27.44	26.88	26.07
Current Domestic Taxes	132M	137M	250M	394M	459M
Current Foreign Taxes	4.42M	4.89M	6.4M	5.5M	5.51M
Total Current Taxes	136M	142M	256M	399M	465M
Total Deferred Taxes	9.52M	10.48M	-16.65M	-29.12M	-16.06M
Normalized Net Income	331M	349M	547M	861M	991M
Interest on Long-Term Debt	255K	178K	175K	254K	320K
Non-Cash Pension Expense	-3.76M	-4.32M	916K	-816K	-97K
Supplemental Operating Expense Items
Net Rental Expense, Total	227M	265M	320M	396M	503M
Imputed Operating Lease Interest Expense	20.46M	52.07M	101M	34.76M	118M
Imputed Operating Lease Depreciation	206M	213M	219M	361M	386M
Stock-Based Comp., Other (Total)	11.11M	12.12M	13.74M	19.98M	20.6M
Total Stock-Based Compensation	11.11M	12.12M	13.74M	19.98M	20.6M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	821M	456M	790M	1.34B	1.11B
Total Cash And Short Term Investments	821M	456M	790M	1.34B	1.11B
Accounts Receivable, Total	2.43B	2.84B	3.47B	3.86B	4.58B
Other Receivables	26.4M	16M	11.9M	9.2M	15.5M
Total Receivables	2.46B	2.86B	3.49B	3.87B	4.59B
Inventory	54.1M	85.64M	111M	95.67M	126M
Prepaid Expenses	53.29M	62.72M	61.17M	81.64M	105M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	1.2M	629K	-	800K	-
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	3.39B	3.46B	4.45B	5.39B	5.94B
Gross Property Plant And Equipment	789M	820M	902M	961M	1.15B
Accumulated Depreciation	-376M	-394M	-412M	-437M	-454M
Net Property Plant And Equipment	413M	426M	490M	524M	692M
Long-term Investments	-	-	-	-	-
Goodwill	890M	919M	957M	1.02B	1.41B
Other Intangibles, Total	589M	594M	586M	648M	1.11B
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	158M	124M	130M	137M	141M
Total Assets	5.44B	5.52B	6.61B	7.72B	9.29B
Liabilities
Accounts Payable, Total	734M	849M	936M	937M	1.23B
Accrued Expenses, Total	765M	723M	910M	1.09B	1.21B
Current Portion of Long-Term Debt	12.92M	12.92M	-	-	-
Current Portion of Leases	61.13M	69.87M	77.7M	83.49M	102M
Unearned Revenue Current, Total	788M	1.1B	1.6B	2.05B	2.33B
Total Current Liabilities	2.36B	2.75B	3.52B	4.15B	4.86B
Long-Term Debt	241M	228M	-	-	-
Long-Term Leases	226M	225M	262M	265M	373M
Unearned Revenue Non Current	2.5M	2.27M	1.81M	1.53M	837K
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	51M	61.6M	56.64M	28.4M	4.6M
Other Non Current Liabilities	307M	281M	300M	329M	373M
Total Liabilities	3.19B	3.55B	4.14B	4.78B	5.62B
Common Stock, Total	607K	609K	611K	612K	613K
Additional Paid In Capital	61.87M	74.8M	91.81M	97.48M	101M
Retained Earnings	2.84B	3.21B	3.81B	4.78B	6.01B
Treasury Stock	-562M	-1.22B	-1.35B	-1.85B	-2.43B
Comprehensive Income and Other	-83.56M	-93.45M	-85.7M	-85.53M	-1.92M
Total Common Equity	2.25B	1.97B	2.47B	2.94B	3.67B
Minority Interest	702K	702K	1.04M	1.04M	1.04M
Total Equity	2.25B	1.97B	2.47B	2.94B	3.67B
Total Liabilities And Equity	5.44B	5.52B	6.61B	7.72B	9.29B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	52.67M	47.69M	47.06M	45.47M	44.53M
ECS Total Common Shares Outstanding	53.3M	47.67M	47.05M	45.81M	44.52M
Book Value / Share	42.26	41.4	52.5	64.13	82.52
Tangible Book Value	773M	460M	927M	1.27B	1.15B
Tangible Book Value Per Share	14.5	9.66	19.71	27.75	25.89
Total Debt	540M	535M	340M	349M	475M
Net Debt	-281M	78.74M	-450M	-991M	-637M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-7.38M	-16.33M	-18.98M	-24.15M	-
Debt Equivalent Oper. Leases	1.81B	2.12B	2.56B	3.17B	4.03B
Minority Interest, Total (Incl. Fin. Div)	702K	702K	1.04M	1.04M	1.04M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	46.19M	74.01M	94.45M	83.94M	120M
Inventories - Work In Process, Total	7.91M	11.63M	16.33M	11.73M	6.46M
Land - (BS)	128M	130M	142M	162M	191M
Machinery, Total	386M	410M	431M	463M	485M
Full Time Employees	34K	35.5K	38.3K	40.4K	44K
Accumulated Allowance for Doubtful Accounts (Supple)	23.53M	22.38M	22.5M	34.96M	22.76M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	384M	406M	633M	1.01B	1.27B
Depreciation & Amortization - CF	48.35M	47.3M	51.82M	56.68M	67.37M
Amortization of Goodwill and Intangible Assets - (CF)	64.09M	61.32M	67.14M	77M	119M
Depreciation & Amortization, Total	112M	109M	119M	134M	186M
Amortization of Deferred Charges, Total - (CF)	960K	960K	960K	822K	822K
(Gain) Loss From Sale Of Asset	-782K	-6.39M	-2.06M	-1.01M	-147M
Asset Writedown & Restructuring Costs	-	-	2.35M	-	-
(Income) Loss On Equity Investments - (CF)	1.21M	9K	-1.26M	1.46M	189K
Stock-Based Compensation (CF)	11.11M	12.12M	13.74M	19.98M	20.6M
Tax Benefit from Stock Options	-828K	-1.65M	-1.72M	-3.98M	-5.01M
Provision and Write-off of Bad Debts	8.04M	5.17M	7.86M	17.3M	7.67M
Other Operating Activities, Total	11.5M	12.09M	-14.03M	-20.22M	-16.59M
Change In Accounts Receivable	-298M	-385M	-621M	-325M	-481M
Change In Inventories	-116K	-31.54M	-23.44M	17.98M	-26.95M
Change In Accounts Payable	54.85M	111M	82.19M	-15.36M	189M
Change in Unearned Revenues	44.71M	300M	490M	427M	156M
Change in Other Net Operating Assets	-10.3M	-34.13M	214M	148M	145M
Cash from Operations	319M	498M	900M	1.41B	1.3B
Capital Expenditure	-36.19M	-49.29M	-78.4M	-74.95M	-113M
Sale of Property, Plant, and Equipment	2.75M	7.14M	13.6M	3.84M	4.65M
Cash Acquisitions	-118M	-98.66M	-96.49M	-228M	-1.02B
Divestitures	-	-	-	-	257M
Investment in Marketable and Equity Securities, Total	-1.4M	-	-	-	-
Cash from Investing	-153M	-141M	-161M	-299M	-874M
Short Term Debt Issued, Total	-	-	200M	-	525M
Long-Term Debt Issued, Total	-	270M	-	-	-
Total Debt Issued	-	270M	200M	-	525M
Short Term Debt Repaid, Total	-	-	-200M	-	-525M
Long-Term Debt Repaid, Total	-18.06M	-287M	-249M	-2.86M	-2.69M
Total Debt Repaid	-18.06M	-287M	-449M	-2.86M	-528M
Issuance of Common Stock	7.33M	8.18M	9.19M	943K	-
Repurchase of Common Stock	-200M	-668M	-134M	-505M	-603M
Common Dividends Paid	-28.16M	-27.19M	-32.68M	-43.38M	-45.02M
Common & Preferred Stock Dividends Paid	-28.16M	-27.19M	-32.68M	-43.38M	-45.02M
Other Financing Activities, Total	-6.8M	-5.53M	-5.84M	-4.85M	-12.97M
Cash from Financing	-245M	-710M	-412M	-555M	-664M
Foreign Exchange Rate Adjustments	-1.28M	-12.52M	6.37M	-2.6M	6.86M
Net Change in Cash	-80.99M	-366M	333M	551M	-228M
Supplemental Items
Cash Interest Paid	5.26M	11.65M	16.25M	2.85M	11.13M
Cash Income Tax Paid (Refund)	131M	169M	230M	409M	483M
Levered Free Cash Flow	262M	367M	711M	1.16B	991M
Unlevered Free Cash Flow	265M	374M	721M	1.16B	998M
Change In Net Working Capital	157M	52.83M	-118M	-237M	82.78M
Net Debt Issued / Repaid	-18.06M	-17.43M	-249M	-2.86M	-2.69M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.36	6.49	9.03	11.74	11.6
Return on Total Capital	12.41	13.42	20.6	27.58	26.52
Return On Equity %	17.82	19.21	28.5	37.24	38.49
Return on Common Equity	17.82	19.22	28.49	37.25	38.5
Margin Analysis
Gross Profit Margin %	15.16	14.48	16.6	18.98	19.33
SG&A Margin	9.72	9.3	9.63	9.7	9.9
EBITDA Margin %	6.53	6.12	7.92	10.16	10.39
EBITA Margin %	6.04	5.69	7.5	9.77	9.99
EBIT Margin %	5.4	5.14	6.97	9.24	9.29
Income From Continuing Operations Margin %	3.87	3.67	5.03	6.91	7.49
Net Income Margin %	3.87	3.67	5.03	6.91	7.49
Net Avail. For Common Margin %	3.87	3.67	5.03	6.91	7.49
Normalized Net Income Margin	3.34	3.15	4.34	5.91	5.84
Levered Free Cash Flow Margin	2.64	3.31	5.65	7.93	5.83
Unlevered Free Cash Flow Margin	2.67	3.38	5.73	7.94	5.87
Asset Turnover
Asset Turnover	1.89	2.02	2.07	2.03	2
Fixed Assets Turnover	24.35	26.41	27.48	28.74	27.94
Receivables Turnover (Average Receivables)	4.37	4.2	3.99	3.97	4.02
Inventory Turnover (Average Inventory)	156.41	135.57	106.85	114.33	123.5
Short Term Liquidity
Current Ratio	1.44	1.26	1.26	1.3	1.22
Quick Ratio	1.39	1.2	1.22	1.25	1.17
Operating Cash Flow to Current Liabilities	0.13	0.18	0.26	0.34	0.27
Days Sales Outstanding (Average Receivables)	83.45	86.92	91.58	92.16	90.69
Days Outstanding Inventory (Average Inventory)	2.33	2.69	3.42	3.2	2.96
Average Days Payable Outstanding	30.54	30.41	30.97	29.08	28.76
Cash Conversion Cycle (Average Days)	55.25	59.2	64.02	66.28	64.88
Long Term Solvency
Total Debt/Equity	23.98	27.11	13.76	11.87	12.91
Total Debt / Total Capital	19.34	21.33	12.1	10.61	11.44
LT Debt/Equity	20.7	22.91	10.61	9.03	10.15
Long-Term Debt / Total Capital	16.69	18.03	9.33	8.07	8.99
Total Liabilities / Total Assets	58.59	64.26	62.62	61.92	60.45
EBIT / Interest Expense	88.03	43.12	50.99	356.11	131.29
EBITDA / Interest Expense	143.88	71.44	76.51	496.3	188.67
(EBITDA - Capex) / Interest Expense	137.92	67.71	71.95	476.46	179.29
Total Debt / EBITDA	0.62	0.57	0.26	0.19	0.21
Net Debt / EBITDA	-0.32	0.08	-0.34	-0.53	-0.28
Total Debt / (EBITDA - Capex)	0.65	0.6	0.27	0.19	0.22
Net Debt / (EBITDA - Capex)	-0.34	0.09	-0.36	-0.55	-0.3
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.58	11.84	13.6	15.76	16.62
Gross Profit, 1 Yr. Growth %	7.62	6.78	30.29	32.34	18.73
EBITDA, 1 Yr. Growth %	7.55	4.78	45.95	48.54	19.27
EBITA, 1 Yr. Growth %	7.89	5.34	48.66	50.7	19.29
EBIT, 1 Yr. Growth %	8.01	6.5	52.84	53.45	17.27
Earnings From Cont. Operations, 1 Yr. Growth %	188.62	5.84	55.95	59.02	26.38
Net Income, 1 Yr. Growth %	188.49	5.89	55.86	59.11	26.38
Normalized Net Income, 1 Yr. Growth %	8.57	5.62	55.26	57.48	15.16
Diluted EPS Before Extra, 1 Yr. Growth %	194.17	14.73	64.32	61.68	30.99
Accounts Receivable, 1 Yr. Growth %	16.27	16.67	22.28	11.2	18.55
Inventory, 1 Yr. Growth %	1.42	58.31	29.35	-13.64	31.97
Net Property, Plant and Equip., 1 Yr. Growth %	3.06	3.16	15.03	6.89	32.22
Total Assets, 1 Yr. Growth %	7.46	1.53	19.64	16.74	20.41
Tangible Book Value, 1 Yr. Growth %	25.04	-40.41	101.36	37.09	-9.31
Common Equity, 1 Yr. Growth %	9.73	-12.38	25.14	18.94	25.06
Cash From Operations, 1 Yr. Growth %	-60.46	56.18	80.68	56.49	-7.52
Capital Expenditures, 1 Yr. Growth %	-24.55	36.19	59.07	-4.41	50.43
Levered Free Cash Flow, 1 Yr. Growth %	-61.64	40.13	92.15	62.56	-14.23
Unlevered Free Cash Flow, 1 Yr. Growth %	-61.48	41.39	91.03	60.56	-13.76
Dividend Per Share, 1 Yr. Growth %	40.54	7.69	28.57	38.89	15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.9	12.21	12.72	14.68	16.19
Gross Profit, 2 Yr. CAGR %	5.24	7.2	17.95	31.31	25.35
EBITDA, 2 Yr. CAGR %	7.86	6.16	24.08	47.74	33.11
EBITA, 2 Yr. CAGR %	8.11	6.61	25.6	50.22	34.08
EBIT, 2 Yr. CAGR %	7.32	7.26	28.1	53.76	34.15
Earnings From Cont. Operations, 2 Yr. CAGR %	8.63	74.78	28.47	57.48	41.76
Net Income, 2 Yr. CAGR %	8.61	74.78	28.47	57.48	41.8
Normalized Net Income, 2 Yr. CAGR %	8.14	7.08	28.58	57.01	34.66
Diluted EPS Before Extra, 2 Yr. CAGR %	10.81	83.71	37.31	63	45.53
Accounts Receivable, 2 Yr. CAGR %	4.99	16.47	19.44	16.61	14.82
Inventory, 2 Yr. CAGR %	15.65	26.71	43.1	5.69	6.76
Net Property, Plant and Equip., 2 Yr. CAGR %	1.38	3.11	8.93	10.88	18.88
Total Assets, 2 Yr. CAGR %	6.14	4.45	10.21	18.18	18.56
Tangible Book Value, 2 Yr. CAGR %	42.27	-13.68	9.54	66.14	11.5
Common Equity, 2 Yr. CAGR %	4.64	-1.95	4.71	22	21.97
Cash From Operations, 2 Yr. CAGR %	-5.33	-21.42	67.98	68.15	20.3
Capital Expenditures, 2 Yr. CAGR %	-13.56	1.37	47.18	23.31	19.92
Levered Free Cash Flow, 2 Yr. CAGR %	12.28	-26.68	64.74	77.43	18.08
Unlevered Free Cash Flow, 2 Yr. CAGR %	10.91	-26.2	64.98	75.81	17.67
Dividend Per Share, 2 Yr. CAGR %	27.48	23.02	17.67	33.63	26.38
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.8	6.48	12.67	13.72	15.32
Gross Profit, 3 Yr. CAGR %	7.6	5.75	14.4	22.57	26.98
EBITDA, 3 Yr. CAGR %	9.7	6.82	18.31	31.75	37.57
EBITA, 3 Yr. CAGR %	9.85	7.18	19.39	33.46	39.11
EBIT, 3 Yr. CAGR %	9.32	7.05	21.02	36.05	40.49
Earnings From Cont. Operations, 3 Yr. CAGR %	10.3	7.7	68.26	37.94	46.34
Net Income, 3 Yr. CAGR %	10.59	7.7	68.23	37.96	46.34
Normalized Net Income, 3 Yr. CAGR %	9.94	7.29	21.53	37.57	41.59
Diluted EPS Before Extra, 3 Yr. CAGR %	13.02	12.1	77.01	44.99	51.54
Accounts Receivable, 3 Yr. CAGR %	8.02	8.75	18.37	16.63	17.25
Inventory, 3 Yr. CAGR %	8.53	28.41	27.59	20.93	13.81
Net Property, Plant and Equip., 3 Yr. CAGR %	45.38	1.97	6.94	8.25	17.58
Total Assets, 3 Yr. CAGR %	9.99	4.58	9.29	12.35	18.92
Tangible Book Value, 3 Yr. CAGR %	43.52	6.45	14.48	18.04	35.78
Common Equity, 3 Yr. CAGR %	8.97	-1.37	6.36	9.26	23.02
Cash From Operations, 3 Yr. CAGR %	5.56	11.87	3.72	64.06	37.77
Capital Expenditures, 3 Yr. CAGR %	-5.93	0.59	17.79	27.46	31.76
Levered Free Cash Flow, 3 Yr. CAGR %	14.52	20.89	1.35	64.01	39.25
Unlevered Free Cash Flow, 3 Yr. CAGR %	13.37	20.26	1.59	63.49	38.65
Dividend Per Share, 3 Yr. CAGR %	17.57	20.51	24.85	24.36	27.11
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.57	7.58	9.13	9.69	14.07
Gross Profit, 5 Yr. CAGR %	7.67	6.93	11.63	15.32	18.66
EBITDA, 5 Yr. CAGR %	10.32	7.21	15.24	21.62	24.02
EBITA, 5 Yr. CAGR %	10.89	7.53	15.9	22.67	25.06
EBIT, 5 Yr. CAGR %	11.07	7.86	16.48	23.74	26.11
Earnings From Cont. Operations, 5 Yr. CAGR %	15.67	12.23	17.24	25.37	57.12
Net Income, 5 Yr. CAGR %	16.09	12.32	17.42	25.37	57.12
Normalized Net Income, 5 Yr. CAGR %	11.73	8.12	17.05	24.94	26.62
Diluted EPS Before Extra, 5 Yr. CAGR %	18.51	16.16	22.17	30.21	63.67
Accounts Receivable, 5 Yr. CAGR %	8.41	10.42	12.45	11.83	16.94
Inventory, 5 Yr. CAGR %	7.65	14.92	21.22	18.79	18.81
Net Property, Plant and Equip., 5 Yr. CAGR %	26.4	27.35	29.53	5.45	11.56
Total Assets, 5 Yr. CAGR %	7.15	6.85	10.08	9.82	12.91
Tangible Book Value, 5 Yr. CAGR %	61.63	16.63	28.82	27.2	13.28
Common Equity, 5 Yr. CAGR %	7.94	3.36	7.25	7.39	12.35
Cash From Operations, 5 Yr. CAGR %	3.97	6.35	27.12	31.67	10.06
Capital Expenditures, 5 Yr. CAGR %	-1.81	7.28	12.52	9.13	18.64
Levered Free Cash Flow, 5 Yr. CAGR %	3.86	2.34	32.45	40.94	7.74
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.47	2.32	31.73	39.99	7.74
Dividend Per Share, 5 Yr. CAGR %	10.2	11.84	17.61	25.59	25.46