Saturday 17 October 2026 Export CECO’s income statement to Excel — free account

CECO Environmental Corp.

CECO Industrials Pollution & Treatment Controls

CECO Environmental Corp.’s revenue for fiscal 2025 (year ended December 2025) was $774.4 million, up 38.8% from fiscal 2024. In the quarter to June 2026, revenue grew 53.7%, EPS fell 396.3%, free cash flow fell 178.0% and total debt rose 204.8%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

56.72 3.82 −6.31%

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Market cap: $3.6B
P/E: 0.0×
Fwd P/E: 68.7×
Dividend yield: —
F-score: 5/9
Altman Z: 3.71
Beneish M: −2.10
Dividend safety: 78/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 2.64

Total sells 10.32

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	1	—	1	—	—	—	—
Sell	—	—	—	—	—	—	1	2	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 3,550.00

Revenue 903.17

Net Income (28.18)

Free Cash Flow (10.18)

Net Debt 663.86

Current Ratio 1.50

Debt/Equity 0.35

P/E ratio 0.00

Fwd P/E 68.70

P/S ratio 2.72

P/B ratio 1.18

Past 5Y EPS Growth 42.89%

This Y EPS Growth 156.72%

Next Y EPS Growth 37.36%

Next Y revenue growth 72.91%

Next 5Y EPS Growth 69.28%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 92.70%

10-year low 10-year high

P/B against its own 10 years 20.38%

10-year low 10-year high

EV/Sales against its own 10 years 95.13%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	0.23	0.08 0.08 0.08
2016	0.26	0.07 0.07 0.07 0.07

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	55	38	33	64
Receivables	113	160	173	459
Inventory	34	43	54	211
Other	67	70	116	139
	281	331	410	980

	2023	2024	2025	Q'26
Payables	88	110	118	196
ST’ Debt	10	2	2	17
Other	57	82	124	324
	203	245	306	652

Compound Annual Growth %

	10y	5y	3y
Sales	7.74%	19.63%	22.37%
Cash Flow	(7.40%)	5.80%	(41.75%)
Earnings	0.00%	43.55%	42.17%
Book Value	2.81%	9.68%	14.00%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	206	285	—	—	—
’25	177	185	198	215	774
’24	126	138	136	159	558
’23	113	129	149	154	545
’22	92	105	108	116	423
’21	72	79	80	94	324
’20	80	75	77	83	316

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(13)	(19)	—	—	—
’25	(12)	(8)	15	10	6
’24	1	7	15	2	25
’23	(12)	11	30	15	45
’22	0	19	1	10	30
’21	10	(6)	6	3	13
’20	7	(5)	7	(5)	4

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(16)	(24)	—	—	—
’25	(15)	(9)	11	19	6
’24	(2)	3	11	13	25
’23	(15)	10	29	12	36
’22	(1)	18	0	9	26
’21	10	(6)	5	2	11
’20	6	(6)	7	(6)	1

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.01)	(0.80)	—	—	—
’25	0.98	0.26	0.04	0.08	1.37
’24	0.04	0.12	0.06	0.13	0.36
’23	0.06	0.11	0.09	0.11	0.37
’22	0.08	0.13	0.06	0.24	0.50
’21	0.03	0.01	(0.04)	0.03	0.04
’20	0.10	0.09	(0.01)	0.05	0.23

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	5.60	4.68	4.00	6.50	3.53	5.77	4.09	10.68	18.50	17.57	Analyst estimates 2026–2028 Powerpack
	High	14.88	14.46	9.18	9.84	9.00	9.47	12.89	21.43	35.16	63.98
People
People	Employees	985	900	800	830	730	730	1,000	1,200	1,600	1,540
	Revenue/emp, $m	0.42	0.38	0.42	0.41	0.43	0.44	0.42	0.45	0.35	0.50
Income, $m
Income, $m	Revenue	417	345	337	342	316	324	423	545	558	774
	Gross margin, %	32.34	32.81	33.06	33.38	33.27	31.14	30.34	31.39	35.16	34.77
	EBT	(33)	1	2	13	12	5	24	22	18	83
	EBT margin, %	(7.90)	0.41	0.74	3.90	3.75	1.44	5.61	3.95	3.17	10.70
	Net income	(38)	(3)	(7)	18	8	2	18	15	14	53
	Depreciation	77	24	14	12	11	10	11	13	15	26
Per share, $
Per share, $	Revenue	12.27	10.02	9.72	9.77	8.95	9.17	12.19	15.72	15.97	21.92
	Earnings	(1.12)	(0.09)	(0.21)	0.51	0.23	0.04	0.50	0.37	0.37	1.42
	Cash flow	2.05	0.19	0.63	0.29	0.13	0.38	0.86	1.29	0.71	0.17
	Capex	(0.01)	(0.02)	0.09	(0.15)	(0.09)	(0.06)	(0.10)	(0.24)	0.00	0.00
	Free cash flow	2.04	0.17	0.72	0.15	0.03	0.32	0.76	1.05	0.71	0.17
	Book value	5.59	5.42	5.14	5.52	5.77	5.83	6.29	6.85	7.21	9.15
	Shares, m	34	34	35	35	35	35	35	35	35	35
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	15.02	29.88	207.67	22.24	52.61	81.70	41.85
	P/S	1.14	0.52	0.69	0.78	0.78	0.68	0.93	1.27	1.89	2.73
	P/B	2.51	0.97	1.31	1.39	1.21	1.07	1.80	2.92	4.19	6.54
	EV/Sales	1.33	0.77	0.82	0.87	0.89	0.78	1.08	1.42	2.22	2.96
	EV/FCF	7.99	44.81	10.96	58.36	259.41	22.47	17.41	21.37	49.80	386.48
Cash, $m
Cash, $m	Operating cash flow	70	7	22	10	4	13	30	45	25	6
	Capex	0	(1)	3	(5)	(3)	(2)	(3)	(8)	0	0
	Free cash flow	69	6	25	5	1	11	26	36	25	6
Balance, $m
Balance, $m	Working capital	67	66	57	64	74	72	94	78	86	104
	Total debt	123	115	76	66	73	64	111	137	219	212
	Net debt	76	84	32	29	35	32	65	82	181	179
	Shareholders’ equity	190	187	179	193	204	206	218	237	252	323
Returns, %
Returns, %	ROA	(6.96)	(0.65)	(1.71)	4.42	1.98	0.34	3.78	2.34	1.91	6.05
	ROIC	(6.01)	1.85	2.97	5.07	3.50	2.59	4.90	6.77	5.12	13.17
	ROE	(17.57)	(1.61)	(3.90)	9.53	4.14	0.70	8.21	5.67	5.30	17.41

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
VLTO Veralto Corporation	$24.6B	25.3×	21.3×	+7.51% (above 0%: growing)	+10.11% (above 0%: growing)	+1.55% (above 0%: growing)	61.19%	21.37%	Compare
ZWS Zurn Elkay Water Solutions Cor	$7.8B	28.7×	32.3×	+10.46% (above 0%: growing)	+126.67% (above 0%: growing)	+56.89% (above 0%: growing)	58.72%	31.02%	Compare
CECO CECO Environmental Corp.	$3.6B	— (loss-making)	68.7×	+53.71% (above 0%: growing)	n/m	−177.98% (below 0%: shrinking)	30.34%	(11.64%)
PCT PureCycle Technologies, Inc.	$641.9M	— (loss-making)	— (loss-making)	+173.45% (above 0%: growing)	n/m	−80.41% (below 0%: shrinking)	(671.72%)	(916.09%)	Compare
ADUR Aduro Clean Technologies Inc.	$357.0M	— (loss-making)	—	−97.97% (below 0%: shrinking)	n/m	+31.19% (above 0%: growing)	100.00%	(309,633.33%)	Compare
ERII Energy Recovery, Inc.	$338.9M	22.9×	— (loss-making)	−57.24% (below 0%: shrinking)	n/m	+284.72% (above 0%: growing)	74.67%	(49.05%)	Compare
ARQ Arq, Inc.	$81.0M	— (loss-making)	78.0×	+4.54% (above 0%: growing)	n/m	+46.21% (above 0%: growing)	38.52%	(0.23%)	Compare
ZONE Zone Frontier Inc.	$60.6M	— (loss-making)	—	−0.40% (below 0%: shrinking)	n/m	−2,753.59% (below 0%: shrinking)	49.85%	(1,129.57%)	Compare
FTEK Fuel Tech, Inc.	$44.3M	— (loss-making)	— (loss-making)	+16.68% (above 0%: growing)	n/m	−1,603.51% (below 0%: shrinking)	41.25%	(24.13%)	Compare
Median of peers	$348.0M	25.3×	32.3×	+6.03%	—	+16.37%	54.29%	(36.59%)

All 18 Pollution & Treatment Controls stocks →

CECO Environmental Corp. (CECO) key facts

Strength: CECO Environmental Corp.’s revenue for fiscal 2025 (year ended December 2025) was $774.4 million, up 38.8% from fiscal 2024.
CECO Environmental Corp. (CECO) is a Pollution & Treatment Controls company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, CECO traded at $56.72, a market capitalization of $3.6 billion.
Return on equity was 17.4% and debt-to-equity 0.35.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.71 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.