Overview
EMCOR Group, Inc.
Latest 10-K: FY2025, filed Feb 26, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $16.99B
- 16.6%YoYup from FY2024
- TotalRevenue
- Gross profit
- $3.28B
- 18.7%YoYup from FY2024
- GrossProfit
- Operating income
- $1.71B
- 27.4%YoYup from FY2024
- OperatingIncome
- Net income
- $1.27B
- 26.4%YoYup from FY2024
- NetIncome
- Diluted EPS
- $28.19
- 31.0%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 45.1M
- 3.6%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- EMCOR Group, Inc. reported revenue of $16.99B for fiscal 2025, up 16.6% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 10.1% and net margin was 7.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $28.19, up 31.0% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $16.99B16.6%up Benchmark median 6.4% | $14.57B15.8%up Benchmark median 4.5% | $12.58B13.6%up Benchmark median 4.8% | $11.08B11.8%up Benchmark median 10.3% | $9.90B12.6%up Benchmark median 13.8% | 14.4% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $3.28B18.7%up Benchmark median 6.8% | $2.77B32.3%up Benchmark median 5.5% | $2.09B30.3%up Benchmark median 5.2% | $1.60B6.8%up Benchmark median 8.3% | $1.50B7.6%up Benchmark median 15.7% | 21.6% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.71B27.4%up Benchmark median 7.3% | $1.34B53.6%up Benchmark median 7.4% | $0.88B55.0%up Benchmark median 4.9% | $0.56B6.4%up Benchmark median 7.5% | $0.53B106.7%up Benchmark median 23.5% | 34.0% Benchmark median 7.2% |
| Net Income | $1.27B26.4%up Benchmark median 4.8% | $1.01B59.1%up Benchmark median 5.7% | $0.63B55.9%up Benchmark median 1.9% | $0.41B5.9%up Benchmark median 1.3% | $0.38B188.5%up Benchmark median 33.9% | 35.0% Benchmark median 4.1% |
| EPS (Diluted) | $28.1931.0%up Benchmark median 6.2% | $21.5261.7%up Benchmark median 7.9% | $13.3164.3%up Benchmark median 1.9% | $8.1014.7%up Benchmark median 1.5% | $7.06194.2%up Benchmark median 34.8% | 41.4% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $9.29B20.4%up Benchmark median 5.6% | $7.72B16.7%up Benchmark median 3.4% | $6.61B19.6%up Benchmark median 4.1% | $5.52B1.5%up Benchmark median 2.2% | $5.44B7.5%up Benchmark median 6.7% | 14.3% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $5.62B17.6%up Benchmark median 6.4% | $4.78B15.4%up Benchmark median 1.9% | $4.14B16.6%up Benchmark median 2.9% | $3.55B11.4%up Benchmark median 2.0% | $3.19B5.9%up Benchmark median 5.2% | 15.2% Benchmark median 4.4% |
| Stockholders' Equity | $3.67B25.1%up Benchmark median 6.8% | $2.94B18.9%up Benchmark median 5.4% | $2.47B25.1%up Benchmark median 7.3% | $1.97B12.4%down Benchmark median 2.5% | $2.25B9.7%up Benchmark median 9.0% | 13.0% Benchmark median 6.1% |
| Cash & Equivalents | $1.11B17.0%down Benchmark median 5.2% | $1.34B69.6%up Benchmark median 1.9% | $0.79B73.0%up Benchmark median 6.7% | $0.46B44.4%down Benchmark median -8.6% | $0.82B9.0%down Benchmark median -2.9% | 7.9% Benchmark median 2.0% |
| Total Debt | — | — | $5.30M97.9%down Benchmark median 0.3% | $247.19M5.5%down Benchmark median 0.1% | $261.69M5.4%down Benchmark median -0.1% | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.30B7.5%down Benchmark median 6.3% | $1.41B56.5%up Benchmark median 4.8% | $0.90B80.7%up Benchmark median 9.9% | $0.50B56.2%up Benchmark median -0.7% | $0.32B60.5%down Benchmark median 10.7% | 42.2% Benchmark median 7.0% |
| Capital Expenditures | $112.75M50.4%up Benchmark median 5.4% | $74.95M4.4%down Benchmark median 2.8% | $78.40M59.1%up Benchmark median 11.3% | $49.29M36.2%up Benchmark median 14.0% | $36.19M24.6%down Benchmark median 8.1% | 32.9% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.19B10.8%down Benchmark median 7.3% | $1.33B62.3%up Benchmark median 6.1% | $0.82B83.1%up Benchmark median 8.8% | $0.45B58.7%up Benchmark median -11.3% | $0.28B62.7%down Benchmark median 10.2% | 43.2% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.6%
Wall Street
on net earnings
FY2024 4.7%
4.3%
Value investor
on free cash flow
FY2024 6.3%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 21.7×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
13.3%
Wall Street
on book equity
FY2024 13.8%
4.2%
Value investor
on tangible book
FY2024 6.0%
Gap −9.1 pts: Value-investor figure 9.1 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 7.5×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
38.5%
Wall Street
ROE: net income ÷ equity
FY2024 37.2%
38.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 44.2%
Gap −0.2 pts: Value-investor figure 0.2 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
10.8%
Wall Street
EBITDA margin
FY2024 9.8%
7.0%
Value investor
Free-cash-flow margin
FY2024 9.2%
Gap −3.8 pts: Value-investor figure 3.8 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.22×
Wall Street
Current ratio
FY2024 1.30×
1.22×
Value investor
Quick ratio, inventory excluded
FY2024 1.30×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Interest cover
How many times earnings pay the year's interest
152.5×
Wall Street
EBITDA ÷ interest
FY2024 376.3×
142.5×
Value investor
EBIT ÷ interest
FY2024 355.9×
Gap −10.0×: Value-investor figure 10.0 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on EME yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on EME and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/EME
Valuein. (2026, October 31). EMCOR Group, Inc. (EME) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/EME
@misc{valuein_eme_2026,
author = {{Valuein}},
title = {EMCOR Group, Inc. (EME) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/EME}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 26, 2026 · accession 0000105634-26-000025
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point-in-time · survivorship-free · every number traceable to its SEC filing
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