IES Holdings, Inc.

Electrical Work

IESCMixed10 of 11 basics passed

$297.00

-1.14%

Market cap $12.6B

$297.00

-1.14%

Market cap $12.6B

IES Holdings Inc owns and manages subsidiaries that design and installs integrated electrical and technology systems and provide infrastructure products and services. It has four business segments; Communications, Residential, Infrastructure Solutions, and Commercial & Industrial.

It is a $12.6B industrial company. Revenue grew 22.7% over the last year, it keeps 11¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 26.3× earnings — in the most expensive third of its own history.

Website: ies-co.com
Location: Houston, TX
Employees: 10 283
Sector: Industrials

Share price · 3 years

$33.59 → $297.00+784.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $3.99B
Profit: keeps 11¢ of every $1 sold; $453M
Free cash flow: cash left after running the business; $228M
Net cash: more cash than debt; $136M
P/E: years of profit in the price; 26.3
EPS: earnings per share, TTM; $11.41
Dividend: pays out 60% of profit · 8% of FCF; 0.14%
Shares: down 8% since 2016 — buybacks; 39.7M
Volatility: beta vs the market — under 1 swings less; 1.80

Revenue, last 10 years

52-week range

Low $178.97$297.00High $396.98

Today's price is 54% of the way from the year's low to its high.

P/E vs its history5y

26.2×median 17.7×

Higher than 75% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

26.2×

25%

P/S

3.0×

14%

EV/EBITDA

23.4×

17%

P/B

9.6×

49%

FCF yield

1.9%

15%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Standing in Industrials

Size$12.6Btop 71%
Revenue growth-2%top 78%
Net margin11%top 40%
Return on equity44%top 10%
P/E26.3×top 48%
Dividend yield0.14%top 94%

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; Valuation and Moat lag behind.

Valuation42

P/E vs own history75th pct · 5/25
FCF yield1.8% · 5/25
P/S3.0x · 20/25
EV/EBITDA23.3x · 12/25

Growth75

Revenue CAGR21.7% · 25/25
Net income CAGR46.0% · 25/25
EPS CAGR ~5Y50.6% · 25/25
Fwd implied growth-10.3% · 0/25

Profitability82

ROIC40.3% · 25/25
ROE44.0% · 25/25
Net margin11.4% · 20/25
Operating margin12.4% · 12/25

Health68

Altman Zn/a · 0/25
Current ratio1.63 · 18/25
Interest coverage22.6x · 25/25
Net cash / debtNet cash · 25/25

Quality75

Piotroski F6/9 · 15/25
Beneish M-2.34 · 20/25
FCF conversion50% · 15/25
Margin stabilityσ 3.3% · 25/25

Moat42

ROIC >12% years6/10 yrs · 13/25
Median gross margin18.5% · 6/25
FCF-positive years9/10 yrs · 18/25
Worst-year net marginworst -1.6% · 5/25

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
$303M net income
FY2019Financial
Revenue crossed $1B
$1.08B for the year
FY2019Financial
Became debt-free
cash now exceeds total debt
FY2016Financial
First recorded profitable year
$121M net income

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$132 353 today — price return only

$3.4B revenue in FY2025

Revenue up 22.7% year over year

Profitable 7 years in a row

Positive free cash flow 3 years in a row

10 283 employees

ROIC of 40.3%

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 22.7% year over year
Net cash position after subtracting debt from cash
Interest covered 22.6× by operating earnings
High returns on invested capital (ROIC 40.3%)

Watch-outs

Loss-making in 1 of the recent years

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+22.7% YoY
Profitable — makes more than it spends$453M TTM
Profit growing — earnings are higher than last year+2.2% YoY
Generates cash — cash left after running and investing$228M TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$12.6B market cap
Not printing shares — share count not ballooning — you keep your slice-5.9% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 43/100
Pays a dividend — returns cash to shareholdersyield 0.14%
Valuation not extreme — price not wildly above earningsP/E 26.3

Peer comparisonIES Holdings, 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
IESC this company	$12.6B	26.3	+22.7%	11.4%	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: IESC vs LRCX · IESC vs CAT · IESC vs RTX

References

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

Hold 3Sell 1Strong sell 2

Appendix · Financial records

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

Profit & lossRevenue $3.99B · net income $453M (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)

$3.99B

YoY 22.7%

Net income (TTM)

$453M

Margin 11.4%

Gross margin

26.3%

Operating margin

12.4%

P/E ratio

26.3

Dividend yield

0.14%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	1.2	1.5	2.2	2.4	2.9	3.4
Gross profit	0.2	0.3	0.3	0.4	0.7	0.9
Operating income (EBIT)	0.1	0.1	0.1	0.2	0.3	0.4
Net income	0.0	0.1	0.0	0.1	0.2	0.3
EPS (diluted)	0.99	1.58	0.83	2.65	5.37	7.63

Cash flowFree cash flow $228M · operating cash flow $371M (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)

$228M

Margin 5.7%

Operating cash flow (TTM)

$371M

FCF margin

5.7%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.1	0.0	0.0	0.2	0.2	0.3
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.1
Free cash flow	0.1	0.0	-0.0	0.1	0.2	0.2
FCF margin	6.0%	2.0%	-0.6%	5.7%	6.6%	6.5%

Balance sheetAssets $1.60B · net cash $136M (FY2025)Open ▾

Balance sheet

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

How $1.60B of assets is financed

44%

56%

Liabilities $708M — borrowed moneyEquity $888M — owners' stake

Cash vs debt

Total debt $95.7M − cash $232M = net cash $136M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

22.6x

EBIT ÷ interest expense

ROE

44.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.1	0.0	0.0	0.1	0.1	0.2
Total assets	0.6	0.8	0.9	1.0	1.2	1.6
Total liabilities	0.3	0.4	0.5	0.5	0.6	0.7
Total debt	0.0	0.0	0.1	0.0	0.0	0.1
Equity	0.3	0.3	0.4	0.4	0.6	0.9
Net debt	-0.1	0.0	0.1	-0.1	-0.1	-0.1

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

Deeper analysis of IESC 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 $297.00 · market cap $12.6B.