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Ameresco, Inc.

AMRC Industrials Engineering & Construction

Ameresco, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 9.16% from fiscal 2024.

Revenue
+9.14%
EPS
−25.0%
Free cash flow
−81.2%
Total debt
+7.49%

Quarter to June 2026, against a year earlier

19.11 2.14 −10.07%
Market cap
$1.0B
P/E
36.1×
Fwd P/E
18.5×
Dividend yield
—
F-score
3/9
Altman Z
1.14
Beneish M
−2.26
Dividend safety
32/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.91
Sold, $m 1.46
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — 8 — — —
Sell — 1 2 4 — 4 — — — 2 — —
Insider Ownership 39.70%

Capital & Financial Ratios $m

Size
Market Cap 1,020.00
Revenue ttm 2,023.94
Net income ttm 52.29
Free cash flow ttm (103.88)
Net debt Q 1,733.38
Valuation
P/E 36.06 (above 35: high)
Forward P/E 18.50
Price / sales 0.50
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.75
Financial health
Current ratio Q 1.67 (at or above 1.5: strong)
Debt / equity Q 1.45
Interest coverage Q 1.67
Growth
Revenue growth Q +9.14% (above 0%: growing)
Operating income growth Q +58.96% (above 0%: growing)
EPS, this year +39.15% (at or above 15%: strong)
EPS, next year A +33.92% (at or above 15%: strong)
Revenue, next year A +10.40% (at or above 10%: strong)
EPS, past 5 yrs −5.48% (below 0%: weak)
EPS, next 5 yrs A +40.96% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 1.5×; over the ten years it ranged from 0.4× in 2016 to 4.5× in 2021.
P/E against its own 10 years 72.53%
10-year low 10-year high
P/S against its own 10 years 18.81%
10-year low 10-year high
P/B against its own 10 years 4.62%
10-year low 10-year high
EV/Sales against its own 10 years 42.39%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 142 178 164 225
Receivables 829 943 1,113 1,182
Inventory 14 12 13 13
Other 21 23 23 24
1,128 1,301 1,553 1,680
2023 2024 2025 Q'26
Payables 403 529 691 642
ST’ Debt 322 149 132 164
Other — — — —
901 889 1,029 1,005

Compound Annual Growth %

10y 5y 3y
Sales 11.84% 13.36% 1.93%
Cash Flow 0.00% 0.00% 0.00%
Earnings 48.59% (3.91%) (22.44%)
Book Value 14.60% 17.90% 8.75%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.20 Actual 0.20

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.26 0.35 Beat by 0.09
Q4 FY25 0.32 0.39 Beat by 0.07
Q1 FY26 −0.27 −0.33 Miss by 0.06
Q2 FY26 0.20 0.20 Met by 0.00
Q3 FY26 0.59 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.35) 0.18 — — —
’25 (0.10) 0.24 0.35 0.34 0.83
’24 (0.06) 0.09 0.33 0.70 1.07
’23 0.02 0.12 0.40 0.64 1.17
’22 0.32 0.61 0.51 0.34 1.78
’21 0.22 0.26 0.33 0.53 1.35
’20 0.13 0.09 0.41 0.47 1.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 401 515 — — —
’25 353 472 526 581 1,932
’24 298 438 501 533 1,770
’23 271 327 335 441 1,375
’22 474 577 441 332 1,824
’21 252 274 274 416 1,216
’20 212 223 283 314 1,032
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 35 (107) — — —
’25 (28) (27) 18 (43) (80)
’24 21 53 25 18 118
’23 59 (93) (7) (30) (70)
’22 (276) (32) 35 (65) (338)
’21 (39) (58) (20) (56) (172)
’20 (52) (22) (10) (19) (103)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (56) (231) — — —
’25 (137) (127) (57) 240 (81)
’24 (86) (70) (90) 359 109
’23 (33) (265) (186) 409 (76)
’22 (332) (103) (24) 116 (344)
’21 (39) (59) (162) 83 (177)
’20 (52) (23) (11) (19) (105)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 651 717 787 867 1,032 1,216 1,824 1,375 1,770 1,932 2,024 +12.8% 2,133 2,313 2,750 +12.5%
Gross margin, % 20.63 20.10 22.06 19.39 18.17 18.95 15.94 17.93 14.47 15.73 16.13 (4.9) pt
EBT 16 29 42 37 56 78 106 38 34 45 39 +11.9%
EBT margin, % 2.51 4.00 5.39 4.22 5.47 6.43 5.79 2.78 1.92 2.33 1.94 (0.2) pt
Net income 12 34 38 40 57 80 99 64 54 57 52 +18.8%
Per share, $
Per share, $ Revenue 14.03 15.76 17.21 18.61 21.64 23.91 35.19 26.36 33.79 36.68 38.20 +11.3%
Earnings 0.26 0.82 0.83 0.95 1.13 1.38 1.83 1.20 1.08 0.84 0.53 +13.9%
Cash flow (1.13) (2.98) (1.16) (4.21) (2.15) (3.39) (6.53) (1.34) 2.25 (1.53) (1.83) +3.3%
Capex (0.06) (0.06) (0.09) (0.14) (0.05) (0.10) (0.10) (0.11) (0.16) (0.02) (0.13) (12.4%)
Free cash flow (1.19) (3.04) (1.25) (4.36) (2.20) (3.48) (6.63) (1.45) 2.08 (1.54) (1.96) +2.9%
Book value 6.34 7.40 8.24 9.21 10.33 13.85 16.84 17.76 19.95 21.31 25.50 +14.4%
Shares, m 46 46 46 47 48 51 52 52 52 53 53 +1.4%
Valuation, ×
Valuation, × P/E 22.60 10.48 17.20 18.42 46.23 58.59 30.39 26.16 21.54 34.87 36.06 28.6
P/S 0.40 0.55 0.82 0.94 2.41 3.41 1.58 1.19 0.69 0.80 0.50 1.3
P/B 0.89 1.18 1.71 1.90 5.06 5.88 3.30 1.77 1.18 1.37 0.75 2.4
EV/Sales 0.60 0.77 1.03 1.27 2.70 3.72 2.00 2.17 1.52 1.69 1.36 1.7
EV/FCF (7.24) (4.03) (14.65) (5.43) (27.26) (26.03) (10.72) (41.34) 23.87 (39.68) (26.22) (15.3)
Cash, $m
Cash, $m Operating cash flow (53) (136) (53) (196) (103) (172) (338) (70) 118 (80) (97) +4.8%
Capex (3) (3) (4) (7) (2) (5) (5) (6) (9) (1) (7) (11.2%)
Free cash flow (55) (138) (57) (203) (105) (177) (344) (76) 109 (81) (104) +4.3%
Balance, $m
Balance, $m Working capital 35 85 88 89 108 164 189 227 412 524 676 +34.9%
Net debt 127 156 168 283 293 381 764 1,351 1,455 1,718 1,733 +33.6%
Shareholders’ equity 294 337 377 429 493 704 873 926 1,045 1,123 1,351 +16.0%
Returns, %
Returns, % ROA 1.58 4.21 3.54 3.50 3.46 3.54 3.72 1.90 1.44 1.02 0.62 (0.6) pt
ROIC 3.53 4.65 6.78 4.53 5.69 5.49 5.08 2.26 2.72 2.71 2.76 (0.8) pt
ROE 4.14 11.88 10.65 11.03 11.73 11.77 12.04 6.95 5.76 4.09 2.34 (0.1) pt
People
People Employees 1,038 1,049 1,116 1,100 1,141 1,272 1,363 1,503 1,509 1,601 — +4.9%
Revenue/emp, $m 0.63 0.68 0.71 0.79 0.90 0.96 1.34 0.91 1.17 1.21 — +7.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Ameresco, Inc. vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CDLR Cadeler A/S Sponsored ADR $2.9B — (loss-making) — +122.12% (above 0%: growing) n/m +99.04% (above 0%: growing) 21.46% 6.24% Compare
LGN Legence Corp. $2.8B — (loss-making) 15.4× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
WLDN Willdan Group, Inc. $1.1B 16.0× 20.2× +33.18% (above 0%: growing) +51.40% (above 0%: growing) +82.02% (above 0%: growing) 37.85% 8.54% Compare
AMRC Ameresco, Inc. $1.0B 36.1× 18.5× +9.14% (above 0%: growing) −25.00% (below 0%: shrinking) −81.22% (below 0%: shrinking) 17.71% 8.57%
BWMN Bowman Consulting Group Ltd. $745.4M 102× 58.6× +19.69% (above 0%: growing) n/m −457.88% (below 0%: shrinking) 53.20% 5.57% Compare
CDNL Cardinal Infrastructure Group Inc. $597.5M — — — — −728.05% (below 0%: shrinking) 15.88% 6.82% Compare
ITG ITG Inc. $525.2M — — — — — 17.81% 5.58% Compare
BBCP CONCRETE PUMPING HOLDINGS, INC. $479.8M 56.4× 51.2× +12.63% (above 0%: growing) +28.57% (above 0%: growing) −28.85% (below 0%: shrinking) 38.74% 12.92% Compare
PHOE Phoenix Asia Holdings Limited $396.2M — — — — −1,148.32% (below 0%: shrinking) — — Compare
Median of peers $671.4M 56.4× 35.7× +33.18% — −28.85% 21.46% 6.24%

All 51 Engineering & Construction stocks →

Ameresco, Inc. (AMRC) Latest News

26 Oct

Impact 3 · · Business Wire

23 Oct

Impact 4 · · Simply Wall St.

22 Oct

Impact 3 · · StockStory

15 Oct

Impact 3 · · Insider Monkey

14 Oct

Impact 3 · · Business Wire

9 Oct

Impact 3 · · StockStory
Impact 3 · · MarketBeat

8 Oct

Impact 3 · · Business Wire

7 Oct

Impact 4 · · Business Wire

28 Sep

Impact 3 ·

26 Sep

Impact 4 ·

24 Sep

Impact 4 · · Simply Wall St.

21 Sep

Impact 4 · · Business Wire
Impact 4 · · Business Wire

15 Sep

Impact 4 ·

31 Aug

Impact 3 ·

11 Aug

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10 Aug

Impact 3 · · The Motley Fool transcript

6 Aug

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4 Aug

Impact 4 ·
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3 Aug

Impact 3 · · MarketBeat transcript
Impact 3 ·
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9 Jul

Impact 3 ·

8 Jul

Impact 3 ·

1 Jul

Impact 4 ·

23 Jun

Impact 3 · · Business Wire
Impact 3 · · facilitiesdive.com
stockrow.com/AMRC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com