EMCOR Group, Inc.

Electrical Work

EMEMixed10 of 11 basics passed

$789.45

+1.44%

Market cap $34.8B

$789.45

+1.44%

Market cap $34.8B

EMCOR Group Inc is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services.

It is a $34.8B industrial company. Revenue grew 18.9% over the last year, it keeps 8¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 24.2× earnings — in the most expensive third of its own history.

Website: emcorgroup.com
Location: Norwalk, CT
Employees: 44 000
Sector: Industrials

Share price · 3 years

$207.20 → $789.45+281.0%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $18.6B
Profit: keeps 8¢ of every $1 sold; $1.44B
Free cash flow: cash left after running the business; $1.17B
Net cash: more cash than debt; $637M
P/E: years of profit in the price; 24.2
EPS: earnings per share, TTM; $31.87
Dividend: pays out 4% of profit · 5% of FCF; 0.17%
Shares: down 20% since 2019 — buybacks; 45.2M
Volatility: beta vs the market — under 1 swings less; 1.15

Revenue, last 10 years

52-week range

Low $581.58$789.45High $943.75

Today's price is 57% of the way from the year's low to its high.

P/E vs its history5y

24.2×median 20.8×

Higher than 72% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

24.2×

28%

P/S

1.9×

12%

EV/EBITDA

17.8×

13%

P/B

8.5×

18%

FCF yield

3.4%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Standing in Industrials

Size$34.8Btop 31%
Revenue growth+15%top 9%
Net margin8%top 62%
Return on equity38%top 14%
P/E24.2×top 41%
Dividend yield0.17%top 91%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth, profitability and quality.

Valuation54

P/E vs own history72th pct · 5/25
FCF yield3.4% · 12/25
P/S1.9x · 25/25
EV/EBITDA16.9x · 12/25

Growth82

Revenue CAGR14.4% · 20/25
Net income CAGR35.0% · 25/25
EPS CAGR ~5Y63.7% · 25/25
Fwd implied growth15.0% · 12/25

Profitability75

ROIC42.2% · 25/25
ROE38.5% · 25/25
Net margin7.7% · 13/25
Operating margin10.4% · 12/25

Health62

Altman Zn/a · 0/25
Current ratio1.28 · 12/25
Interest coverage490.3x · 25/25
Net cash / debtNet cash · 25/25

Quality89

Piotroski F7/9 · 22/25
Beneish M-2.31 · 20/25
FCF conversion81% · 22/25
Margin stabilityσ 2.2% · 25/25

Moat62

ROIC >12% years10/10 yrs · 25/25
Median gross margin15.0% · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 1.5% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$1.27B net income
FY2022Financial
Revenue crossed $10B
$11.1B for the year
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$7.55B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

#41 largest of 130 Industrials companies by market cap

$10 000 invested in 2021 would be worth ~$68 038 today — price return only

$17.0B revenue in FY2025

Revenue up 18.9% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

44 000 employees

ROIC of 42.2%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 18.9% year over year
Net cash position after subtracting debt from cash
Interest covered 490.3× by operating earnings
High returns on invested capital (ROIC 42.2%)
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+18.9% YoY
Profitable — makes more than it spends$1.44B TTM
Profit growing — earnings are higher than last year+51.5% YoY
Generates cash — cash left after running and investing$1.17B TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$34.8B market cap
Not printing shares — share count not ballooning — you keep your slice-18.5% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 37/100
Pays a dividend — returns cash to shareholdersyield 0.17%
Valuation not extreme — price not wildly above earningsP/E 24.2

Peer comparisonEMCOR Group, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
EME this company	$34.8B	24.2	+18.9%	7.7%	Mixed
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: EME vs LRCX · EME vs CAT · EME vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 6Buy 5Hold 4

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $18.6B · net income $1.44B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$18.6B

YoY 18.9%

Net income (TTM)

$1.44B

Margin 7.7%

Gross margin

19.4%

Operating margin

10.4%

P/E ratio

24.2

Dividend yield

0.17%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	8.8	9.9	11.1	12.6	14.6	17.0
Gross profit	1.4	1.5	1.6	2.1	2.8	3.3
Operating income (EBIT)	0.3	0.5	0.6	0.9	1.3	1.7
Net income	0.1	0.4	0.4	0.6	1.0	1.3
EPS (diluted)	2.40	7.06	8.10	13.31	21.52	28.19

Cash flowFree cash flow $1.17B · operating cash flow $1.29B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.17B

Margin 6.3%

Operating cash flow (TTM)

$1.29B

FCF margin

6.3%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.8	0.3	0.5	0.9	1.4	1.3
Capital expenditure	-0.0	-0.0	-0.0	-0.1	-0.1	-0.1
Free cash flow	0.8	0.3	0.4	0.8	1.3	1.2
FCF margin	8.6%	2.9%	4.1%	6.5%	9.2%	7.0%

Balance sheetAssets $9.29B · net cash $637M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $9.29B of assets is financed

60%

40%

Liabilities $5.62B — borrowed moneyEquity $3.67B — owners' stake

Cash vs debt

Total debt $475M − cash $1.11B = net cash $637M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

490.3x

EBIT ÷ interest expense

ROE

38.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.9	0.8	0.5	0.8	1.3	1.1
Total assets	5.1	5.4	5.5	6.6	7.7	9.3
Total liabilities	3.0	3.2	3.6	4.1	4.8	5.6
Total debt	0.0	0.3	0.2	0.0	0.3	0.5
Equity	2.1	2.3	2.0	2.5	2.9	3.7
Net debt	-0.9	-0.6	-0.2	-0.8	-1.0	-0.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of EME on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $789.45 · market cap $34.8B.