Friday 6 November 2026 Export FIX’s income statement to Excel — free account

Comfort Systems USA, Inc.

FIX Industrials Engineering & Construction

Comfort Systems USA, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.1 billion, up 29.5% from fiscal 2024.

Revenue: +53.7%
EPS: +68.6%
Free cash flow: +55.2%
Total debt: −63.6%

Quarter to September 2026, against a year earlier

966.33 124.98 −11.45%

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Market cap: $33.8B
P/E: 20.8×
Fwd P/E: 24.3×
Dividend yield: 0.31%
F-score: 7/9
Altman Z: 7.74
Beneish M: −2.35
Dividend safety: 96/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Comfort Systems USA, Inc. (FIX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2024: revenue by segment, and margins
Mechanical segment	5,528	78.66%
Electrical segment	1,500	21.34%
Gross margin		21.01%
Operating margin		10.66%
Pre-tax margin		9.49%

Revenue by product or service $m

Line	FY2024	FY2023	FY2022	FY2021	FY2018	FY2017	FY2016	FY2015
Mechanical segment	5,528 78.66%	3,946 75.79%	3,178 76.77%	2,543 82.72%	—	—	—	—
Electrical segment	1,500 21.34%	1,261 24.21%	962 23.23%	531 17.28%	—	—	—	—
Heating Ventilation And Air Conditioning And Plumbing	—	—	—	—	1,976 90.54%	—	—	—
Product and Service, Other	—	—	—	—	111 5.10%	—	—	—
Building Automation Control Systems	—	—	—	—	95 4.36%	94 5.26%	98 6.00%	79 5.00%
Heating Ventilation And Air Conditioning	—	—	—	—	—	1,615 90.35%	1,226 75.00%	1,217 77.00%
Other Services	—	—	—	—	—	78 4.39%	65 4.00%	63 4.00%
Plumbing	—	—	—	—	—	—	245 15.00%	221 14.00%
Revenue	7,027	5,207	4,140	3,074	2,183	1,788	1,634	1,581

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018	FY2017
Mechanical segment	1,402 76.57%	5,528 78.66%	3,946 75.79%	3,178 76.77%	2,543 82.72%	2,431 85.09%	2,176 99.70%	1,788 100.00%
Electrical segment	429 23.43%	1,500 21.34%	1,261 24.21%	962 23.23%	531 17.28%	426 14.91%	—	—
Electrical Services	—	—	—	—	—	—	7 0.30%	—
Also reported: a second breakdown of the same revenue
New construction	—	3,985 56.70%	2,853 54.80%	2,012 48.59%	1,422 46.26%	1,334 46.69%	—	—
Existing building construction	—	1,945 27.68%	1,337 25.68%	1,211 29.24%	963 31.35%	911 31.88%	—	—
Service calls, maintenance, and monitoring	—	629 8.95%	570 10.95%	536 12.94%	410 13.33%	371 12.98%	—	—
Service projects	—	469 6.67%	446 8.57%	382 9.23%	279 9.06%	241 8.45%	—	—
Revenue	1,831	7,027	5,207	4,140	3,074	2,857	2,183	1,788

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018	FY2017
Mechanical segment	‡	‡	‡	‡	‡	‡	‡	‡
Electrical segment	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Backlog	Q3 FY2026	$17.8B	$9.4B	+89.87%
Same-store backlog	Q3 FY2026	$17.4B	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.