EM
EMCOR Group Inc
EME—
EMCOR Group Inc AI Insights
Informational only. Not investment advice.Snapshot
- ROIC of 32.9% TTM vs industry median 15.9% - capital efficiency 2x peers with minimal debt (0.13 D/E)[Return on Invested Capital]
- EPS 5Y CAGR 42.5% vs industry median 16.4% - 2.6x faster earnings growth on 15% revenue CAGR[EPS Growth 5Y]
- FCF of 1.1B TTM (7.1% yield on 28B market cap) with capex under 1% of revenue - asset-light model[Free Cash Flow]
Watch Triggers
- Operating Margin: Falls below 8% TTM — Signals pricing pressure or labor cost inflation eroding competitive advantage
- Accounts Receivable: Exceeds 100 days sales outstanding — Would indicate customer payment stress or revenue quality deterioration
- Total Revenue 3Y Growth: Declines below 10% CAGR — Infrastructure spending slowdown would invalidate growth thesis
Bull Case
Capital-light compounder: 33% ROIC with 0.13 D/E generates 1.1B FCF annually for buybacks/M&A without dilution or leverage
Return on Invested CapitalDebt to EquityFree Cash Flow
Infrastructure tailwinds: 15% 3Y revenue CAGR (3x industry median) positions EME for data center, grid modernization spend
Total Revenue 3Y GrowthOperating Income
Bear Case
Valuation stretched: P/B 30.7x vs book of 74/share reflects perfection; P/E 25x at cycle peak leaves no margin for error
Price to Book RatioPrice to Earnings Ratio
A/R concentration risk: 4.1B receivables (48% of assets) exposes EME to customer credit deterioration in downturn
Accounts ReceivableTotal Assets
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
60%
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Forward Thesis
Margin expansion likely to continue as mix shifts toward higher-value electrical/mechanical services
1-3ymed
- Operating margin 9.4% TTM expanding faster than revenue
- Asset turnover 2.0x enables operating leverage
- Minimal capex needs (0.6% of revenue)
Net margin 7.0% vs industry median 7.0% with 2x revenue growthFCF conversion 92% of operating cash flow TTMDebt paydown of 251M while growing earnings
Valuation Context
Caveats
Public Strategies Rankings
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EME Fundamentals
Construction → Specialty Trade Contractors
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$31.42B | — | ||
$31.19B | — | ||
28 | — | ||
$16.24B | +14.1% | — | |
$24.84 | +26.3% | — | |
9.41% | +0.7% | — | |
6.96% | +0.5% | — | |
$1.15B | -10.5% | — | |
0.37 | +0.3% | — | |
Beta 5Y (Monthly) | unknown | — |
EME Dividend History
58 dividends
2026
$0.400001/14/26$0.4000
2025
$1.000010/15/25$0.2500
07/15/25$0.2500
04/17/25$0.2500
01/16/25$0.2500
2024
$0.930010/15/24$0.2500
07/15/24$0.2500
04/15/24$0.2500
01/12/24$0.1800
2023
$0.690010/13/23$0.1800
07/19/23$0.1800
04/14/23$0.1800
01/13/23$0.1500
2022
$0.540010/17/22$0.1500
07/15/22$0.1300
04/14/22$0.1300
01/14/22$0.1300
2021
$0.520010/14/21$0.1300
07/16/21$0.1300
04/15/21$0.1300
01/15/21$0.1300
2020
$0.320010/15/20$0.0800
07/17/20$0.0800
04/16/20$0.0800
01/16/20$0.0800
2019
$0.320010/17/19$0.0800
07/18/19$0.0800
04/17/19$0.0800
01/17/19$0.0800
2018
$0.320010/12/18$0.0800
07/19/18$0.0800
04/13/18$0.0800
01/12/18$0.0800
2017
$0.320010/16/17$0.0800
07/13/17$0.0800
04/12/17$0.0800
01/12/17$0.0800
2016
$0.320010/13/16$0.0800
07/14/16$0.0800
04/14/16$0.0800
01/14/16$0.0800
2015
$0.320010/15/15$0.0800
07/15/15$0.0800
04/15/15$0.0800
01/21/15$0.0800
2014
$0.320010/16/14$0.0800
07/10/14$0.0800
04/15/14$0.0800
01/22/14$0.0800
2013
$0.180010/10/13$0.0600
07/10/13$0.0600
04/15/13$0.0600
2012
$0.510012/14/12$0.3100
10/11/12$0.0500
07/12/12$0.0500
04/13/12$0.0500
01/18/12$0.0500
2011
$0.050010/06/11$0.0500
EME Stock Splits
2 stock splits
07/10/070.5:1 split
02/13/060.5:1 split
EME SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/30/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
04/30/25 | 03/31/25 | 10-Q | |
02/26/25 | 12/31/24 | 10-K | |
10/31/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/28/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
10/29/20 | 09/30/20 | 10-Q | |
08/03/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/27/20 | 12/31/19 | 10-K | |
10/29/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
04/30/19 | 03/31/19 | 10-Q | |
02/21/19 | 12/31/18 | 10-K | |
10/25/18 | 09/30/18 | 10-Q | |
07/26/18 | 06/30/18 | 10-Q | |
04/26/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
07/27/17 | 06/30/17 | 10-Q | |
04/27/17 | 03/31/17 | 10-Q | |
02/23/17 | 12/31/16 | 10-K | |
10/27/16 | 09/30/16 | 10-Q | |
07/28/16 | 06/30/16 | 10-Q | |
04/28/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
10/28/14 | 09/30/14 | 10-Q | |
07/29/14 | 06/30/14 | 10-Q | |
04/29/14 | 03/31/14 | 10-Q | |
02/25/14 | 12/31/13 | 10-K | |
10/24/13 | 09/30/13 | 10-Q | |
07/25/13 | 06/30/13 | 10-Q | |
04/25/13 | 03/31/13 | 10-Q | |
02/26/13 | 12/31/12 | 10-K | |
10/25/12 | 09/30/12 | 10-Q | |
07/26/12 | 06/30/12 | 10-Q | |
04/26/12 | 03/31/12 | 10-Q | |
02/27/12 | 12/31/11 | 10-K | |
10/27/11 | 09/30/11 | 10-Q | |
07/29/11 | 06/30/11 | 10-Q | |
04/28/11 | 03/31/11 | 10-Q | |
02/25/11 | 12/31/10 | 10-K | |
11/02/10 | 09/30/10 | 10-Q | |
07/29/10 | 06/30/10 | 10-Q | |
04/29/10 | 03/31/10 | 10-Q | |
02/25/10 | 12/31/09 | 10-K | |
10/29/09 | 09/30/09 | 10-Q | |
07/30/09 | 06/30/09 | 10-Q | |
04/28/09 | 03/31/09 | 10-Q | |
02/26/09 | 12/31/08 | 10-K | |
10/23/08 | 09/30/08 | 10-Q | |
07/29/08 | 06/30/08 | 10-Q | |
04/24/08 | 03/30/08 | Unknown | -- |
02/21/08 | 12/31/07 | 5 | |
10/25/07 | 09/30/07 | 10-Q | |
07/26/07 | 06/30/07 | 10-Q | |
04/26/07 | 03/30/07 | Unknown | -- |
02/22/07 | 12/31/06 | 8-K | |
10/26/06 | 09/30/06 | 10-Q | |
07/27/06 | 06/30/06 | 10-Q | |
04/27/06 | 03/30/06 | Unknown | -- |
02/23/06 | 12/31/05 | 10-K | |
10/27/05 | 09/30/05 | 10-Q | |
07/28/05 | 06/30/05 | 10-Q | |
04/28/05 | 03/31/05 | 8-K | |
03/09/05 | 12/31/04 | 8-K | |
10/28/04 | 09/30/04 | 10-Q | |
07/22/04 | 06/30/04 | 10-Q | |
04/29/04 | 03/30/04 | Unknown | -- |
02/26/04 | 12/31/03 | 8-K | |
10/23/03 | 09/30/03 | 8-K | |
07/24/03 | 06/30/03 | 10-Q | |
04/24/03 | 03/30/03 | Unknown | -- |
02/26/03 | 12/31/02 | 8-K | |
10/23/02 | 09/30/02 | 10-Q | |
07/25/02 | 06/30/02 | 10-Q | |
04/30/02 | 03/30/02 | Unknown | -- |
02/21/02 | 12/31/01 | 10-K | |
10/25/01 | 09/30/01 | 10-Q | |
07/26/01 | 06/30/01 | 10-Q | |
04/24/01 | 03/30/01 | Unknown | -- |
02/20/01 | 12/31/00 | 10-K | |
10/26/00 | 09/30/00 | 10-Q | |
07/26/00 | 06/30/00 | 10-Q | |
04/26/00 | 03/30/00 | Unknown | -- |