EMCOR Group, Inc.EME
NYSE•Industrials•Engineering & Construction
EMCOR Group, Inc. provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, startup, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and piping systems; control and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging; millwright; and steel fabrication, erection, and welding services. The company also provides site-based operations and maintenance; facility management and maintenance; energy retrofit; military base operations support; indoor air quality; floor care and janitorial; landscaping, lot sweeping, and snow removal; vendor management and call center; installation and support for building systems; program development, management, and maintenance for energy systems; technical consulting and diagnostic; infrastructure and building projects; modification and retrofit projects; and reception, security, and catering services. In addition, it offers refinery turnaround planning and engineering; welding; overhaul and maintenance; technical; instrumentation, controls, and electrical; electrical panel design, fabrication, and installation; on-site repair and maintenance; and renewable energy services, as well as design, manufacturing, repair, and hydro blast cleaning services. The company was incorporated in 1987 and is headquartered in Norwalk, Connecticut.
EMCOR Group, Inc. (EME) reported trailing twelve months revenue of $17.75B as of March 2026, a 18.3% increase year-over-year. Quarterly revenue reached $4.63B, reflecting continued top-line momentum.
EMCOR Group, Inc. generated $1.33B in TTM net income, with quarterly EBITDA of $403.85M. The operating margin expanded from 8.2% to 8.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (8.7%) and net margin (6.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 6.2% a year ago, signaling stronger bottom-line efficiency.
EME trades at a P/E of 23.7x (in line with broad market averages) and a P/S of 1.8x. The price-to-book ratio of 8.2x indicates a significant premium over book value.
The company reported negative free cash flow of $-28.15M, indicating cash consumption over the period. The balance sheet shows $9.51B in total assets with no in long-term debt against $3.87B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~9.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 34.1% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~29.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~9.9% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.5% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation