A Business at a Glance
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ITEM 1. BUSINESS References to the “Company,” “EMCOR,” “we,” “us,” “our” and similar words refer to EMCOR Group, Inc. and its consolidated subsidiaries unless the context indicates otherwise. We are one of the largest specialty contractors in the United States and a leading provider of electrical and mechanical construction and facilities services, building services, and industrial services. In 2025, we had revenues of $16.99 billion. Our services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries, which specialize principally in providing construction services relating to electrical and mechanical systems in all types of facilities and in providing various services relating to the operation, maintenance, and management of those facilities.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.0B | 17.0B | 14.6B | 12.6B | 11.1B | 9.9B |
| Net Income | 1.3B | 1.3B | 1.0B | 633M | 406M | 384M |
| EPS | $28.19 | $28.19 | $21.52 | $13.31 | $8.10 | $7.06 |
| Free Cash Flow | 1.2B | 1.2B | 1.3B | 821M | 449M | 283M |
| ROIC | 41.7% | 115.8% | 161.9% | 51.7% | 25.5% | 33.0% |
| Gross Margin | 19.3% | 19.3% | 19.0% | 16.6% | 14.5% | 15.2% |
| Debt/Equity | 0.13 | 0.13 | 0.12 | 0.14 | 0.28 | 0.25 |
| Dividends/Share | $1.00 | $1.00 | $0.93 | $0.69 | $0.54 | $0.52 |
| Operating Income | 1.7B | 1.7B | 1.3B | 876M | 565M | 531M |
| Operating Margin | 10.1% | 10.1% | 9.2% | 7.0% | 5.1% | 5.4% |
| ROE | 34.6% | 38.5% | 34.3% | 25.6% | 20.6% | 17.0% |
| Shares Outstanding | 45M | 45M | 47M | 48M | 50M | 54M |
EMCOR Group, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
EMCOR Group, Inc. trades at 28.8x trailing earnings, compared to its 15-year median P/E of 19.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 30.4x vs a median of 15.9x. The company's 5-year average ROIC is 77.6% with a gross margin of 16.9%. Total shareholder yield (dividends + buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is +27.7%.
EMCOR Group, Inc. (EME) has a current P/E ratio of 28.8, compared to its historical median P/E of 19.5. The stock is currently considered Expensive based on its historical valuation range.
EMCOR Group, Inc. (EME) has a 5-year average return on invested capital (ROIC) of 77.6%. This indicates strong capital allocation and a potential competitive advantage.
EMCOR Group, Inc. (EME) has a market capitalization of $36.7B. It is classified as a large-cap stock.
Yes, EMCOR Group, Inc. (EME) pays a dividend with a trailing twelve-month yield of 0.12%. The company also returns capital through share buybacks, with a buyback yield of 1.60%.
Based on historical P/E analysis, EMCOR Group, Inc. (EME) appears expensive. The current P/E of 28.8 is 48% above its historical median of 19.5. The estimated fair value CAGR (P/E method) is 32.4%.
EMCOR Group, Inc. (EME) operates in the Electrical Work industry, within the Industrials sector.
EMCOR Group, Inc. (EME) reported annual revenue of $17.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
EMCOR Group, Inc. (EME) has a net profit margin of 7.5%. This is a modest margin.
EMCOR Group, Inc. (EME) generated $1.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
EMCOR Group, Inc. (EME) has a debt-to-equity ratio of 0.13. This indicates a conservatively financed balance sheet.
EMCOR Group, Inc. (EME) reported earnings per share (EPS) of $28.19 in its most recent fiscal year.
EMCOR Group, Inc. (EME) has a return on equity (ROE) of 38.5%. This indicates the company generates strong returns for shareholders.
EMCOR Group, Inc. (EME) has a 5-year average gross margin of 16.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for EMCOR Group, Inc. (EME), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EMCOR Group, Inc. (EME) has a book value per share of $81.37, based on its most recent annual SEC filing.