E

EMCOR Group, Inc.

EME · CIK 0000105634

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$16.99B16.6%
FY2025
Net income (FY)
$1.27B26.4%
FY2025
Free cash flow (FY)
$1.19B10.8%
FY2025
Diluted EPS (FY)
$28.1931.0%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2008 · Revenue $6.79B · Net income $182.2M · 0000950123-11-018213 · filed 2011-02-25FY08Revenue $6.79BNet income $182.2M0000950123-11-018213 · filed 2011-02-25FY2009 · Revenue $5.23B · Net income $160.8M · 0001193125-12-079814 · filed 2012-02-27FY09Revenue $5.23BNet income $160.8M0001193125-12-079814 · filed 2012-02-27FY2010 · Revenue $4.85B · Net income −$86.7M · 0000105634-13-000042 · filed 2013-02-26FY10Revenue $4.85BNet income −$86.7M0000105634-13-000042 · filed 2013-02-26FY2011 · Revenue $5.61B · Net income $130.8M · 0000105634-14-000042 · filed 2014-02-25FY11Revenue $5.61BNet income $130.8M0000105634-14-000042 · filed 2014-02-25FY2012 · Revenue $6.20B · Net income $146.6M · 0000105634-15-000041 · filed 2015-02-26FY12Revenue $6.20BNet income $146.6M0000105634-15-000041 · filed 2015-02-26FY2013 · Revenue $6.33B · Net income $123.8M · 0000105634-16-000297 · filed 2016-02-25FY13Revenue $6.33BNet income $123.8M0000105634-16-000297 · filed 2016-02-25FY2014 · Revenue $6.42B · Net income $168.7M · 0000105634-17-000043 · filed 2017-02-23FY14Revenue $6.42BNet income $168.7M0000105634-17-000043 · filed 2017-02-23FY2015 · Revenue $6.72B · Net income $172.3M · 0000105634-18-000045 · filed 2018-02-22FY15Revenue $6.72BNet income $172.3M0000105634-18-000045 · filed 2018-02-22FY2016 · Revenue $7.55B · Net income $181.9M · 0000105634-19-000044 · filed 2019-02-21FY16Revenue $7.55BNet income $181.9M0000105634-19-000044 · filed 2019-02-21FY2017 · Revenue $7.69B · Net income $227.2M · 0000105634-20-000043 · filed 2020-02-27FY17Revenue $7.69BNet income $227.2M0000105634-20-000043 · filed 2020-02-27FY2018 · Revenue $8.13B · Net income $283.5M · 0000105634-21-000044 · filed 2021-02-25FY18Revenue $8.13BNet income $283.5M0000105634-21-000044 · filed 2021-02-25FY2019 · Revenue $9.17B · Net income $325.1M · 0000105634-22-000006 · filed 2022-02-24FY19Revenue $9.17BNet income $325.1M0000105634-22-000006 · filed 2022-02-24FY2020 · Revenue $8.80B · Net income $132.9M · 0000105634-23-000005 · filed 2023-02-23FY20Revenue $8.80BNet income $132.9M0000105634-23-000005 · filed 2023-02-23FY2021 · Revenue $9.90B · Net income $383.5M · 0000105634-24-000006 · filed 2024-02-28FY21Revenue $9.90BNet income $383.5M0000105634-24-000006 · filed 2024-02-28FY2022 · Revenue $11.08B · Net income $406.1M · 0000105634-25-000015 · filed 2025-02-26FY22Revenue $11.08BNet income $406.1M0000105634-25-000015 · filed 2025-02-26FY2023 · Revenue $12.58B · Net income $633.0M · 0000105634-26-000025 · filed 2026-02-26FY23Revenue $12.58BNet income $633.0M0000105634-26-000025 · filed 2026-02-26FY2024 · Revenue $14.57B · Net income $1.01B · 0000105634-26-000025 · filed 2026-02-26FY24Revenue $14.57BNet income $1.01B0000105634-26-000025 · filed 2026-02-26FY2025 · Revenue $16.99B · Net income $1.27B · 0000105634-26-000025 · filed 2026-02-26FY25Revenue $16.99BNet income $1.27B0000105634-26-000025 · filed 2026-02-26FY25Revenue $16.99BNet income $1.27B0000105634-26-000025 · filed 2026-02-26FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 2.5× since FY2008 · net margin 2.7% → 7.5%

MarginsNet marginFCF margin
0%5%10%FY2008 · Net margin 2.7% · FCF margin 4.4%FY08Net margin 2.7%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 3.1% · FCF margin 6.4%FY09Net margin 3.1%FCF margin 6.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin -1.8% · FCF margin 1.0%FY10Net margin -1.8%FCF margin 1.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 2.3% · FCF margin 2.1%FY11Net margin 2.3%FCF margin 2.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 2.4% · FCF margin 2.4%FY12Net margin 2.4%FCF margin 2.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 2.0% · FCF margin 1.8%FY13Net margin 2.0%FCF margin 1.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 2.6% · FCF margin 3.2%FY14Net margin 2.6%FCF margin 3.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 2.6% · FCF margin 3.4%FY15Net margin 2.6%FCF margin 3.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 2.4% · FCF margin 2.9%FY16Net margin 2.4%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 3.0% · FCF margin 4.3%FY17Net margin 3.0%FCF margin 4.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 3.5% · FCF margin 2.8%FY18Net margin 3.5%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 3.5% · FCF margin 3.3%FY19Net margin 3.5%FCF margin 3.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 1.5% · FCF margin 8.6%FY20Net margin 1.5%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 3.9% · FCF margin 2.9%FY21Net margin 3.9%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 3.7% · FCF margin 4.1%FY22Net margin 3.7%FCF margin 4.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 5.0% · FCF margin 6.5%FY23Net margin 5.0%FCF margin 6.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 6.9% · FCF margin 9.2%FY24Net margin 6.9%FCF margin 9.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 7.5% · FCF margin 7.0%FY25Net margin 7.5%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 7.5%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 7.5% · free cash flow 7.0% of revenue

Cash engineOperating cash flowFree cash flow
$0$500M$1B$1.5BFY2008 · OCF $335.0M · FCF $297.5M · 0000950123-11-018213 · filed 2011-02-25FY08OCF $335.0MFCF $297.5M0000950123-11-018213 · filed 2011-02-25FY2009 · OCF $360.8M · FCF $336.7M · 0001193125-12-079814 · filed 2012-02-27FY09OCF $360.8MFCF $336.7M0001193125-12-079814 · filed 2012-02-27FY2010 · OCF $69.5M · FCF $50.2M · 0000105634-13-000042 · filed 2013-02-26FY10OCF $69.5MFCF $50.2M0000105634-13-000042 · filed 2013-02-26FY2011 · OCF $149.4M · FCF $119.8M · 0000105634-14-000042 · filed 2014-02-25FY11OCF $149.4MFCF $119.8M0000105634-14-000042 · filed 2014-02-25FY2012 · OCF $184.4M · FCF $146.5M · 0000105634-15-000041 · filed 2015-02-26FY12OCF $184.4MFCF $146.5M0000105634-15-000041 · filed 2015-02-26FY2013 · OCF $150.1M · FCF $114.6M · 0000105634-16-000297 · filed 2016-02-25FY13OCF $150.1MFCF $114.6M0000105634-16-000297 · filed 2016-02-25FY2014 · OCF $246.7M · FCF $208.6M · 0000105634-17-000043 · filed 2017-02-23FY14OCF $246.7MFCF $208.6M0000105634-17-000043 · filed 2017-02-23FY2015 · OCF $266.7M · FCF $231.2M · 0000105634-18-000045 · filed 2018-02-22FY15OCF $266.7MFCF $231.2M0000105634-18-000045 · filed 2018-02-22FY2016 · OCF $262.4M · FCF $222.7M · 0000105634-19-000044 · filed 2019-02-21FY16OCF $262.4MFCF $222.7M0000105634-19-000044 · filed 2019-02-21FY2017 · OCF $366.0M · FCF $331.4M · 0000105634-20-000043 · filed 2020-02-27FY17OCF $366.0MFCF $331.4M0000105634-20-000043 · filed 2020-02-27FY2018 · OCF $271.0M · FCF $227.5M · 0000105634-21-000044 · filed 2021-02-25FY18OCF $271.0MFCF $227.5M0000105634-21-000044 · filed 2021-02-25FY2019 · OCF $355.7M · FCF $307.3M · 0000105634-22-000006 · filed 2022-02-24FY19OCF $355.7MFCF $307.3M0000105634-22-000006 · filed 2022-02-24FY2020 · OCF $806.4M · FCF $758.4M · 0000105634-23-000005 · filed 2023-02-23FY20OCF $806.4MFCF $758.4M0000105634-23-000005 · filed 2023-02-23FY2021 · OCF $318.8M · FCF $282.6M · 0000105634-24-000006 · filed 2024-02-28FY21OCF $318.8MFCF $282.6M0000105634-24-000006 · filed 2024-02-28FY2022 · OCF $497.9M · FCF $448.6M · 0000105634-25-000015 · filed 2025-02-26FY22OCF $497.9MFCF $448.6M0000105634-25-000015 · filed 2025-02-26FY2023 · OCF $899.7M · FCF $821.3M · 0000105634-26-000025 · filed 2026-02-26FY23OCF $899.7MFCF $821.3M0000105634-26-000025 · filed 2026-02-26FY2024 · OCF $1.41B · FCF $1.33B · 0000105634-26-000025 · filed 2026-02-26FY24OCF $1.41BFCF $1.33B0000105634-26-000025 · filed 2026-02-26FY2025 · OCF $1.30B · FCF $1.19B · 0000105634-26-000025 · filed 2026-02-26FY25OCF $1.30BFCF $1.19B0000105634-26-000025 · filed 2026-02-26FY25OCF $1.30BFCF $1.19B0000105634-26-000025 · filed 2026-02-26’09’13’17’21’25

FY2025: $1.30B operating cash − $112.8M capex = $1.19B free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%FY2009 · ROE 13.2% · ROA 5.4%FY09ROE 13.2%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE -7.5% · ROA -3.1%FY10ROE -7.5%ROA -3.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 10.6% · ROA 4.3%FY11ROE 10.6%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 10.9% · ROA 4.7%FY12ROE 10.9%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 8.4% · ROA 3.6%FY13ROE 8.4%ROA 3.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 11.9% · ROA 5.0%FY14ROE 11.9%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 11.7% · ROA 4.9%FY15ROE 11.7%ROA 4.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 11.8% · ROA 4.7%FY16ROE 11.8%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 13.6% · ROA 5.7%FY17ROE 13.6%ROA 5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 16.3% · ROA 6.9%FY18ROE 16.3%ROA 6.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 15.8% · ROA 6.7%FY19ROE 15.8%ROA 6.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 6.5% · ROA 2.6%FY20ROE 6.5%ROA 2.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 17.0% · ROA 7.0%FY21ROE 17.0%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 20.6% · ROA 7.4%FY22ROE 20.6%ROA 7.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 25.6% · ROA 9.6%FY23ROE 25.6%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 34.3% · ROA 13.1%FY24ROE 34.3%ROA 13.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 34.6% · ROA 13.7%FY25ROE 34.6%ROA 13.7%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 34.6%ROA 13.7%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 13% (FY2009) → 35% (FY2025) · on assets 13.7%

Balance sheetLiabilitiesEquity
$0$5B$10BFY2009 · Liabilities $1.76B · Equity $1.22BFY09Liabilities $1.76BEquity $1.22B0000950123-11-018213 · filed 2011-02-25FY2010 · Liabilities $1.59B · Equity $1.15BFY10Liabilities $1.59BEquity $1.15B0001193125-12-079814 · filed 2012-02-27FY2011 · Liabilities $1.77B · Equity $1.23BFY11Liabilities $1.77BEquity $1.23B0000105634-13-000042 · filed 2013-02-26FY2012 · Liabilities $1.75B · Equity $1.35BFY12Liabilities $1.75BEquity $1.35B0000105634-14-000042 · filed 2014-02-25FY2013 · Liabilities $1.99B · Equity $1.47BFY13Liabilities $1.99BEquity $1.47B0000105634-15-000041 · filed 2015-02-26FY2014 · Liabilities $1.96B · Equity $1.42BFY14Liabilities $1.96BEquity $1.42B0000105634-16-000297 · filed 2016-02-25FY2015 · Liabilities $2.06B · Equity $1.48BFY15Liabilities $2.06BEquity $1.48B0000105634-17-000043 · filed 2017-02-23FY2016 · Liabilities $2.31B · Equity $1.54BFY16Liabilities $2.31BEquity $1.54B0000105634-18-000045 · filed 2018-02-22FY2017 · Liabilities $2.29B · Equity $1.67BFY17Liabilities $2.29BEquity $1.67B0000105634-19-000044 · filed 2019-02-21FY2018 · Liabilities $2.35B · Equity $1.74BFY18Liabilities $2.35BEquity $1.74B0000105634-20-000043 · filed 2020-02-27FY2019 · Liabilities $2.77B · Equity $2.06BFY19Liabilities $2.77BEquity $2.06B0000105634-21-000044 · filed 2021-02-25FY2020 · Liabilities $3.01B · Equity $2.05BFY20Liabilities $3.01BEquity $2.05B0000105634-22-000006 · filed 2022-02-24FY2021 · Liabilities $3.19B · Equity $2.25BFY21Liabilities $3.19BEquity $2.25B0000105634-23-000005 · filed 2023-02-23FY2022 · Liabilities $3.55B · Equity $1.97BFY22Liabilities $3.55BEquity $1.97B0000105634-24-000006 · filed 2024-02-28FY2023 · Liabilities $4.14B · Equity $2.47BFY23Liabilities $4.14BEquity $2.47B0000105634-25-000015 · filed 2025-02-26FY2024 · Liabilities $4.78B · Equity $2.94BFY24Liabilities $4.78BEquity $2.94B0000105634-26-000025 · filed 2026-02-26FY2025 · Liabilities $5.62B · Equity $3.67BFY25Liabilities $5.62BEquity $3.67B0000105634-26-000025 · filed 2026-02-26FY25Liabilities $5.62BEquity $3.67B0000105634-26-000025 · filed 2026-02-26’09’13’17’21’25

FY2025: $9.29B assets · $5.62B liabilities · $3.67B equity

The receipts