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References to the Company, EMCOR, we, us, our and similar words refer to EMCOR Group, Inc. and its consolidated subsidiaries unless the context indicates otherwise. Overview We are one of the largest specialty contractors in the United States and a leading provider of electrical and mechanical construction and facilities services, building services, and industrial services.
$849.20
$3.95 (-0.46%)
Price from 15 days ago
10.09% operating margin is respectable but not wide. ROIC at 34.02%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 16.6%, still solid. Free cash flow declined 11% despite revenue growth, conversion is weakening.
At 29x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 11% versus the prior year, cash generation momentum has weakened.
28.5x earnings, 35.2x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$17.75B
▲ +16.6% YoY
Net Income (TTM)
$1.34B
▲ +26.4% YoY
Op. Margin
10.13%
▲ +0.9pp YoY
ROIC
33.69%
▲ +2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.08B
▼ -10.8% YoY
Op. Cash Flow (TTM)
$1.19B
▼ -7.5% YoY
Net Debt
-$400M
Net Cash Position
Cash & Equiv.
$916M
5Y CAGR: +14.1%
5Y CAGR: +9.4%
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