# IES Holdings, Inc. Common Stock (IESC) — Stock CV

IES Holdings, Inc. 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.

> 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.

## Identity

- **Ticker**: IESC
- **Sector**: Industrials
- **Industry**: Electrical Work
- **Headquarters**: HOUSTON, TX
- **Employees**: 10 283
- **Website**: https://www.ies-co.com
- **Market cap**: $12.6B
- **Last price**: $297.00
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $3.99B
- **Net income**: $453M
- **Free cash flow**: $228M
- **Net cash**: $136M
- **P/E**: 26.3
- **Revenue growth (YoY)**: 22.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 42 |
| Growth | 75 |
| Profitability | 82 |
| Health | 68 |
| Quality | 75 |
| Moat | 42 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +22.7% YoY
- [x] Profitable — $453M TTM
- [x] Profit growing — +2.2% YoY
- [x] Generates cash — $228M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $12.6B market cap
- [x] Not printing shares — -5.9% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 0.14%
- [x] Valuation not extreme — P/E 26.3

## Experience (career milestones)

- **FY2025** — Best year on record: $303M net income
- **FY2019** — Revenue crossed $1B: $1.08B for the year
- **FY2019** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $121M net income

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.54B | $66.7M | $30.5M |
| FY2022 | $2.17B | $34.8M | -$13.0M |
| FY2023 | $2.38B | $108M | $136M |
| FY2024 | $2.88B | $219M | $189M |
| FY2025 | $3.37B | $303M | $219M |

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Source: https://stockcv.com/IESC — derived from company filings; may be delayed or incomplete. Information, not investment advice.