Industrials · Construction & Engineering · US stock · price as of 16 Oct 2026
Key indicators
Price
$721.66
52-week range
$563.71 – $950.96
Market cap
$32.2B
P/E (trailing)
22.5×
EV / EBITDA
16.2×
Free-cash-flow yield
3.6%
Dividend yield
0.2%
Revenue (last 12 months)
$18.6B
Revenue growth (3y a year)
15.3%
Operating margin
10.4%
Return on invested capital
45.2%
Net debt / EBITDA
–
Fair value
Blended fair value$771.07 range $730 – $817
Versus priceFair+7% to fair value
Peer multiples
$554.26
Fundamentals-adjusted multiple
$744.61
10-year DCF (market-scaled)
$1,014.35
Earnings power value (floor, not blended)
$249.69
Model uncertainty
High
X-Ray Score
65/ 100 · High confidence · ahead of 93% of sector peers
Valuation60
Growth88
Profitability53
Financial health70
Dividends53
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
EMCOR Group provides electrical and mechanical construction, industrial infrastructure and building services. It installs and maintains power, lighting, heating, cooling and ventilation systems for commercial, industrial, institutional and data center customers, and also offers facilities maintenance. Revenue comes from construction contracts and recurring service work, so results depend on project backlog and nonresidential building activity.
The company reported revenue of $18.6 billion for the last twelve months at EMCOR Group, Inc.. Revenue growth over the past three years averaged 15.3% a year. It kept an operating margin of 10.4%. The return on invested capital reached 45%, a measure of profit earned on the money invested in the business. The company pays a dividend, and the yield is 0.2%.
StocksXray gives EMCOR Group, Inc. an X-Ray Score of 65 out of 100 (high confidence), ahead of 93% of the S&P 500 stocks in its sector. Its strongest lens is growth (88) and its weakest is dividends (53).
Our fair value blend is $771.07 (range $730.33 to $817.30). At $721.66 the stock trades 6% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
EMCOR Group, Inc. (EME)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$125.43
$146.52
$213.96
$452.03
$610.48
$721.66
Market cap
$6.8B
$7.3B
$10.2B
$21.2B
$27.6B
$32.2B
P/E
17.8×
18.1×
16.1×
21.0×
21.7×
22.5×
EV / revenue
0.6×
0.6×
0.7×
1.4×
1.6×
1.7×
EV / EBITDA
10.8×
11.7×
10.1×
14.7×
15.4×
16.2×
Price / free cash flow
24.1×
16.4×
12.4×
15.9×
23.2×
27.4×
Free-cash-flow yield
4.1%
6.1%
8.1%
6.3%
4.3%
3.6%
Price / book
3.0×
3.7×
4.1×
7.2×
7.5×
7.9×
Dividend yield
0.41%
0.37%
0.32%
0.21%
0.16%
0.22%
Fundamentals checklist ● 10 Good · ● 3 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash1.5%Bad
Free-cash-flow yield3.6%Average
Risk models
Altman Z score5.1×Good
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)51.5%Good
Free-cash-flow growth (3y)38.4%Good
Revenue growth (3y)15.3%Good
Growth consistency100%Good
Balance sheet
Current ratio1.3×Average
Interest coverno interest costGood
Valuation
Fair value vs price1.1×Average
EBIT / EV yield6.2%Good
Profitability
Return on invested capital45.2%Good
Operating margin10.4%Bad
Gross profitability35.6%Good
XStocksXray
EMCOR Group, Inc. (EME)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
9,904
11,076
12,583
14,566
16,986
18,598
Gross profit
1,502
1,604
2,089
2,765
3,283
3,613
Operating income
531
565
876
1,345
1,713
1,931
Net income
384
406
633
1,007
1,273
1,439
Diluted EPS ($)
7.06
8.10
13.31
21.52
28.19
32.10
Free cash flow
283
449
821
1,333
1,189
1,171
Gross margin
15.2%
14.5%
16.6%
19.0%
19.3%
19.4%
Operating margin
5.4%
5.1%
7.0%
9.2%
10.1%
10.4%
Net margin
3.9%
3.7%
5.0%
6.9%
7.5%
7.7%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
5,441
5,525
6,610
7,716
9,291
10,157
Cash
821
456
790
1,340
1,112
924
Total debt
262
247
5
–
–
–
Equity
2,252
1,974
2,470
2,938
3,674
4,079
Dividend per share ($)
0.52
0.54
0.69
0.93
1.00
1.30
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.