EMENYSEElectrical WorkFiscal year ends December 31
EMCOR Group, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$716.79−4.87 (-0.67%)
Close on Oct 19, 2026
- Market cap
- $31.94B
- P/E (TTM)
- 22.3
- Dividend yield
- 0.14%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
19.3%+3.5 pts over 5 years
Operating margin
10.1%+7.2 pts over 5 years
Net margin
7.5%+6.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +16.6% | +15.3% | +14.1% | +9.7% | |
| Gross profit | +18.7% | +27.0% | +18.7% | +13.3% | |
| Operating income | +27.4% | +44.8% | +46.2% | +19.6% | |
| Net income | +26.4% | +46.3% | +57.1% | +22.1% | |
| EPS, diluted | +31.0% | +51.5% | +63.7% | +26.3% | |
| Free cash flow | -10.8% | +38.4% | +9.4% | +17.8% | |
| Dividend per share | +7.5% | +22.8% | +25.6% | +12.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.1% | 6.5% | 38.5% | |
| Return on assets | 4.9% | 2.7% | 15.0% | |
| Current ratio | 1.43 | 1.44 | 1.22 | |
| Debt to equity | 0.27 | 0.13 | – | |
| Net debt to EBITDA | -0.16× | -2.06× | – | |
| Interest coverage | 24.3× | 28.5× | 142.5× | |
| Capex to revenue | 0.5% | 0.5% | 0.7% | |
| Diluted shares | 61M | 55M | 45M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Emcor generated $4.43B from operations and spent $2.59B on capital expenditure, dividends and share buybacks. 14% of that went back into the business.
Generated
$4.43B
Used
$2.59B
Capital expenditure$351.59M14%Dividends$176.44M7%Share buybacks$2.06B80%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.5%
×Asset turnover2.00×
×Equity multiplier2.57×
=Return on equity, FY202538.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.5% | 2.00× | 2.57× | 38.5% |
| FY2024 | 6.9% | 2.03× | 2.65× | 37.3% |
| FY2023 | 5.0% | 2.07× | 2.73× | 28.5% |
| FY2022 | 3.7% | 2.02× | 2.59× | 19.2% |
| FY2021 | 3.9% | 1.89× | 2.44× | 17.8% |
| FY2020 | 1.5% | 1.78× | 2.41× | 6.5% |
| FY2019 | 3.5% | 2.06× | 2.35× | 17.1% |
| FY2018 | 3.5% | 2.02× | 2.36× | 16.6% |
| FY2017 | 3.0% | 1.97× | 2.44× | 14.2% |
| FY2016 | 2.4% | 2.05× | 2.44× | 12.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.27B
- Cash generatingOperating cash flow above zero$1.30B
- Return on assets improvedROA up on the prior year15.2% → 16.5%
- Earnings backed by cashOperating cash flow above net income$1.30B vs $1.27B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.30 → 1.22
- No dilutionShare count did not rise47M → 45M
- Gross margin improvedGross margin up on the prior year18.98% → 19.33%
- More efficientAsset turnover rose2.20 → 2.20