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

EMCOR Group, Inc.

EME Industrials Engineering & Construction

EMCOR Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 billion, up 16.6% from fiscal 2024. In the quarter to June 2026, revenue grew 19.8%, EPS grew 34.9% and free cash flow grew 55.6%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.

720.65 11.88 −1.62%

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Market cap: $32.3B
P/E: 22.3×
Fwd P/E: 28.0×
Dividend yield: 0.22%
F-score: 7/9
Altman Z: 6.42
Beneish M: −2.26
Dividend safety: 93/100

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

Insider Decisions trades per month

Total sells 40.82

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	1	—	—	2	3	2	1	—	—	—	—

Insider Ownership 1.42%

Capital & Financial Ratios $m

Market Cap 32,310.00

Revenue 18,597.77

Net Income 1,439.16

Free Cash Flow 1,175.50

Net Debt (924.41)

Current Ratio 1.28

Debt/Equity 0.00

P/E ratio 22.35

Fwd P/E 28.00

P/S ratio 1.72

P/B ratio 7.85

Past 5Y EPS Growth 63.67%

This Y EPS Growth 27.51%

Next Y EPS Growth 13.30%

Next Y revenue growth 19.62%

Next 5Y EPS Growth 17.90%

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 70.51%

10-year low 10-year high

P/S against its own 10 years 89.72%

10-year low 10-year high

P/B against its own 10 years 86.80%

10-year low 10-year high

EV/Sales against its own 10 years 89.57%

10-year low 10-year high

EV/FCF against its own 10 years 93.33%

10-year low 10-year high

Dividends

Payout Ratio 0.05

Annual Dividend Rate 1.60

Annual Dividend Yield 0.22%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.60	0.40 0.40 0.40 0.40
2025	1.00	0.25 0.25 0.25 0.25
2024	0.93	0.18 0.25 0.25 0.25
2023	0.69	0.15 0.18 0.18 0.18
2022	0.54	0.13 0.13 0.13 0.15
2021	0.52	0.13 0.13 0.13 0.13
2020	0.32	0.08 0.08 0.08 0.08
2019	0.32	0.08 0.08 0.08 0.08
2018	0.32	0.08 0.08 0.08 0.08
2017	0.32	0.08 0.08 0.08 0.08
2016	0.32	0.08 0.08 0.08 0.08

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	790	1,340	1,112	924
Receivables	3,203	3,578	4,241	5,098
Inventory	111	96	126	154
Other	270	285	338	401
	4,447	5,389	5,937	6,672

	2023	2024	2025	Q'26
Payables	936	937	1,227	1,251
ST’ Debt	—	—	—	—
Other	1,595	2,048	2,327	2,609
	3,518	4,154	4,865	5,225

Compound Annual Growth %

	10y	5y	3y
Sales	9.72%	14.07%	15.32%
Cash Flow	17.18%	10.06%	37.77%
Earnings	22.14%	57.12%	46.34%
Book Value	9.52%	12.35%	23.01%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,628	5,155	—	—	—
’25	3,867	4,304	4,302	4,513	16,986
’24	3,432	3,667	3,697	3,770	14,566
’23	2,890	3,046	3,208	3,439	12,583
’22	2,593	2,707	2,826	2,950	11,076
’21	2,304	2,438	2,522	2,640	9,904
’20	2,300	2,014	2,202	2,281	8,797

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1	289	—	—	—
’25	108	194	476	524	1,302
’24	132	280	526	469	1,408
’23	(85)	300	261	424	900
’22	(96)	77	257	260	498
’21	(89)	82	121	205	319
’20	(79)	356	270	260	806

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(28)	260	—	—	—
’25	84	167	450	494	1,194
’24	113	261	510	453	1,337
’23	(98)	287	243	403	835
’22	(107)	61	252	249	456
’21	(96)	74	112	195	285
’20	(91)	342	263	247	762

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	6.84	9.06	—	—	—
’25	5.26	6.72	6.57	9.68	28.19
’24	4.17	5.25	5.80	6.32	21.52
’23	2.32	2.95	3.57	4.47	13.31
’22	1.39	1.99	2.16	2.63	8.10
’21	1.54	1.78	1.85	1.89	7.06
’20	1.35	(1.52)	1.11	1.45	2.40

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	40.98	59.76	57.29	58.05	41.85	87.36	95.64	141.89	209.31	320.89	Analyst estimates 2026–2028 Powerpack
	High	73.44	84.11	85.08	93.54	93.65	135.98	156.67	227.50	532.38	778.64
People
People	Employees	31,000	32,000	33,000	36,000	33,000	34,000	35,500	38,300	40,400	44,000
	Revenue/emp, $m	0.24	0.24	0.25	0.25	0.27	0.29	0.31	0.33	0.36	0.39
Income, $m
Income, $m	Revenue	7,552	7,687	8,131	9,175	8,797	9,904	11,076	12,583	14,566	16,986
	Gross margin, %	13.74	14.92	14.83	14.78	15.86	15.16	14.48	16.60	18.98	19.33
	EBT	296	319	395	451	252	529	559	873	1,377	1,722
	EBT margin, %	3.93	4.15	4.86	4.91	2.87	5.34	5.04	6.94	9.46	10.14
	Net income	182	227	284	325	133	384	406	633	1,007	1,273
	Depreciation	80	89	81	92	107	112	109	119	134	186
Per share, $
Per share, $	Revenue	124.26	129.73	139.91	163.23	159.38	183.17	221.82	265.70	312.47	377.63
	Earnings	3.00	3.84	4.88	5.78	2.41	7.09	8.13	13.37	21.61	28.30
	Cash flow	4.32	6.18	4.66	6.33	14.61	5.90	9.97	19.00	30.20	28.95
	Capex	(0.62)	(0.52)	(0.73)	(0.76)	(0.81)	(0.62)	(0.84)	(1.37)	(1.53)	(2.40)
	Free cash flow	3.70	5.66	3.94	5.56	13.80	5.28	9.13	17.63	28.68	26.54
	Book value	25.31	28.25	29.97	36.61	37.20	41.67	39.54	52.17	63.04	81.70
	Shares, m	61	59	58	56	55	54	50	47	47	45
Valuation, ×
Valuation, ×	P/E	23.61	21.34	12.21	14.93	38.27	17.97	18.11	15.90	20.98	21.60
	P/S	0.57	0.63	0.43	0.53	0.57	0.70	0.67	0.80	1.45	1.62
	P/B	2.80	2.90	1.99	2.36	2.46	3.06	3.75	4.08	7.20	7.49
	EV/Sales	0.56	0.61	0.42	0.52	0.50	0.64	0.65	0.74	1.36	1.57
	EV/FCF	18.97	14.01	14.86	15.36	5.80	22.17	15.79	11.14	14.83	22.33
Cash, $m
Cash, $m	Operating cash flow	262	366	271	356	806	319	498	900	1,408	1,302
	Capex	(38)	(31)	(42)	(43)	(45)	(33)	(42)	(65)	(71)	(108)
	Free cash flow	225	335	229	313	762	285	456	835	1,337	1,194
Balance, $m
Balance, $m	Working capital	657	634	652	721	958	1,029	708	929	1,235	1,072
	Total debt	423	310	296	312	277	262	247	5	—	—
	Net debt	(41)	(157)	(68)	(47)	(626)	(560)	(209)	(790)	(1,340)	(1,112)
	Shareholders’ equity	1,538	1,674	1,741	2,058	2,053	2,253	1,974	2,471	2,939	3,675
Returns, %
Returns, %	ROA	4.92	5.81	7.04	7.29	2.69	7.30	7.41	10.43	14.06	14.97
	ROIC	12.82	13.55	15.06	14.32	11.25	19.59	20.00	32.56	52.56	41.78
	ROE	12.06	14.15	16.60	17.12	6.47	17.81	19.21	28.48	37.24	38.49

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
PWR Quanta Services, Inc.	$96.6B	71.2×	71.8×	+41.10% (above 0%: growing)	+95.45% (above 0%: growing)	+405.61% (above 0%: growing)	16.17%	7.27%	Compare
FIX Comfort Systems USA, Inc.	$52.1B	35.4×	42.7×	+50.26% (above 0%: growing)	+91.74% (above 0%: growing)	+349.76% (above 0%: growing)	25.85%	17.09%	Compare
FER Ferrovial N.V.	$35.2B	—	—	—	—	—	—	—	Compare
EME EMCOR Group, Inc.	$32.3B	22.3×	28.0×	+19.76% (above 0%: growing)	+34.87% (above 0%: growing)	+55.56% (above 0%: growing)	19.83%	10.62%
APG APi Group Corporation	$17.6B	— (loss-making)	36.8×	+13.27% (above 0%: growing)	+23.53% (above 0%: growing)	−12.90% (below 0%: shrinking)	31.19%	7.76%	Compare
J Jacobs Solutions Inc.	$16.6B	49.7×	28.3×	+34.46% (above 0%: growing)	−25.16% (below 0%: shrinking)	+59.31% (above 0%: growing)	19.89%	7.03%	Compare
MTZ MasTec, Inc.	$15.4B	30.1×	53.1×	+23.38% (above 0%: growing)	+51.82% (above 0%: growing)	−31.15% (below 0%: shrinking)	12.72%	5.17%	Compare
STRL Sterling Infrastructure, Inc.	$13.7B	30.1×	52.6×	+90.11% (above 0%: growing)	+118.03% (above 0%: growing)	+55.30% (above 0%: growing)	24.82%	18.77%	Compare
IESC IES Holdings, Inc.	$10.6B	22.1×	36.6×	+39.60% (above 0%: growing)	+98.70% (above 0%: growing)	−14.63% (below 0%: shrinking)	27.41%	14.37%	Compare
Median of peers	$17.1B	32.7×	42.7×	+39.60%	+91.74%	+55.30%	24.82%	7.76%

All 51 Engineering & Construction stocks →

EMCOR Group, Inc. (EME) key facts

Strength: EMCOR Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 billion, up 16.6% from fiscal 2024.
Strength: Net income was $1.3 billion, or $28.30 per share (basic), a net margin of 7.49%.
EMCOR Group, Inc. (EME) is an Engineering & Construction company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, EME traded at $720.65, a market capitalization of $32.3 billion.
At that price the stock trades at 22.3× trailing-twelve-month earnings and 1.7× sales; its P/E is higher than 71% of its own readings over the past ten years.
EMCOR Group, Inc. pays an annual dividend of $1.60 per share, a yield of 0.22%, with a payout ratio of 4.98%.
Return on equity was 38.5% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 6.42 (safe zone) for fiscal 2025.