Recent News
On June 4, 2026 a director received a 230-share restricted stock unit award (reported in a Form 4 filing). On May 18, 2026 EMCOR announced participation in upcoming investor events. On April 2, 2026 the Board declared a regular quarterly cash dividend of $0.40 per share payable April 30, 2026.
Technical Analysis
ADX stands at 22.68, indicating an emerging directional trend; the directional index profile shows DI+ increasing, which signals a bullish shift in directional momentum even while DI+ remains below DI-. This suggests the market may be transitioning from range behavior toward a trend-building phase.
MACD reads -$8.83 with a dip-and-reversal pattern and the signal line at -$6.48; the dip-and-reversal constitutes bullish momentum development, though the MACD remains negative and below the signal line, implying momentum improvement from a negative base rather than a fully established uptrend.
MRO sits at 3.62 (positive), indicating price sits modestly above the WMDST target and therefore carries incremental downside pressure until cash-flow or valuation signals shift the target higher. The modest absolute value points to limited immediate pressure rather than large-scale reversion risk.
RSI at 47.98 and rising indicates strengthening buying activity from lower momentum levels without overbought readings; this supports potential near-term upside but does not confirm sustained expansion of buyers’ control.
Price closed at $834.77, trading above the 20-day average ($826.85) and the 12-day EMA ($829.88, which has shown a dip-and-reversal), but below the 50-day average ($852.97) and the 26-day EMA ($840.35). The positioning — above short-term averages yet beneath intermediate resistance — implies relief-rally dynamics with clear caps near the 50-day average and the SuperTrend upper at $870.49. Bollinger bands place the one-standard-deviation upper band at $846.85 and the lower at $806.84, framing $806–$847 as the immediate intraday range to monitor in the coming weeks.
Fundamental Analysis
Profitability: Operating (EBIT) margin stands at 8.726%, up 5.872 percentage points year-over-year but down 33.698% quarter-over-quarter. EMCOR’s EBIT margin remains below the industry peer mean of 16.636% and below the industry peer median of 16.903%, indicating lower margin conversion versus typical peers. Return on equity equals 7.901% while return on assets equals 3.25%, both reflecting modest returns on capital.
Growth: Total revenue registered $4,628,233,000. Reported revenue growth measures 2.55% (year-over-period), with revenue YoY at -1.20% and a QoQ change of -48.14%. Earnings per share came in at $6.84 versus consensus $5.90, an EPS beat of $0.94 or +15.93%. Reported earnings growth metrics show contraction on some horizons (earningsGrowth -4.87%; earningsGrowth YoY -70.98%), highlighting volatility in quarter-to-quarter performance.
Cash flow & liquidity: Operating cash flow equals $558,000 compared with net income of $305,484,000, and free cash flow registers negative $28,154,000. The cash conversion signals weaker cash realization in the quarter despite positive net income. Cash and short-term investments total $916,420,000 and the cash conversion ratio reads 3.694, but cash flow margin sits at -0.715% and free-cash-flow yield appears negative, indicating cash generation lag relative to accounting earnings in this period.
Balance sheet & leverage: Total debt equals $510,418,000 and debt to EBITDA equals 1.12x, while the interest coverage ratio stands at 48.59x — a strong coverage metric that limits refinancing pressure. Current ratio equals 1.26 and quick ratio 1.23, both below the industry peer mean current ratio of 1.90488 but within reasonable working-capital bands for construction and engineering operations.
Capital efficiency: Asset turnover reads 0.492 (slightly above the industry peer mean of 0.219), indicating relatively efficient revenue generation from assets. Cash conversion cycle about 60 days aligns with project receivable and payables timing in the sector; days sales outstanding at 86.66 and days payables at 29.94 underline working-capital intensity tied to receivables timing.
Valuation metrics: Trailing P/E equals 111.98 and forward P/E about 88.37, P/S equals 7.35, and P/B sits at 8.80. WMDST values the stock as over-valued at current multiples, reflecting stretched expectations relative to earnings and cash-generation in the most recent quarter. The EPS beat supports the near-term narrative of better-than-expected profitability, but negative free cash flow for the quarter and the margin gap to peers weigh on the valuation case.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 558.0 K | |
| Capital Expenditures | $ -28.71 M | |
| Change In Working Capital | $ -354.84 M | |
| Dividends Paid | $ -17.81 M | |
| Cash Flow Delta | $ -195.55 M | |
| End Period Cash Flow | $ 916.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.6 B | |
| Forward Revenue | $ 1.4 B | |
| COSTS | ||
| Cost Of Revenue | $ 3.8 B | |
| Depreciation | $ 18.4 M | |
| Depreciation and Amortization | $ 52.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 864.0 M | |
| EBITDA | $ 456.4 M | |
| EBIT | $ 403.8 M | |
| Operating Income | $ 403.8 M | |
| Interest Income | $ 6.2 M | |
| Interest Expense | — | |
| Net Interest Income | $ 6.2 M | |
| Income Before Tax | $ 410.1 M | |
| Tax Provision | $ 104.6 M | |
| Tax Rate | 25.5 % | |
| Net Income | $ 305.5 M | |
| Net Income From Continuing Operations | $ 305.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 5.90 | |
| EPS Actual | $ 6.84 | |
| EPS Difference | $ 0.94 | |
| EPS Surprise | 15.932 % | |
| Forward EPS | $ 8.17 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 9.5 B | |
| Intangible Assets | $ 2.5 B | |
| Net Tangible Assets | $ 1.3 B | |
| Total Current Assets | $ 6.1 B | |
| Cash and Short-Term Investments | $ 916.4 M | |
| Cash | $ 916.4 M | |
| Net Receivables | $ 4.5 B | |
| Inventory | $ 130.2 M | |
| Long-Term Investments | $ 166.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.1 B | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 4.8 B | |
| Net Debt | — | |
| Total Debt | $ 510.4 M | |
| Total Liabilities | $ 5.6 B | |
| EQUITY | ||
| Total Equity | $ 3.9 B | |
| Retained Earnings | $ 6.3 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 87.01 | |
| Shares Outstanding | 44.440 M | |
| Revenue Per-Share | $ 104.15 | |
| VALUATION | Market Capitalization | $ 34.0 B |
| Enterprise Value | $ 33.6 B | |
| Enterprise Multiple | 73.687 | |
| Enterprise Multiple QoQ | 53.539 % | |
| Enterprise Multiple YoY | 46.039 % | |
| Enterprise Multiple IPRWA | high: 228.904 median: 85.492 mean: 79.239 EME: 73.687 low: -131.998 |
|
| EV/R | 7.267 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.459 | |
| Asset To Liability | 1.686 | |
| Debt To Capital | 0.117 | |
| Debt To Assets | 0.054 | |
| Debt To Assets QoQ | 6.529 % | |
| Debt To Assets YoY | -31.766 % | |
| Debt To Assets IPRWA | high: 0.817 mean: 0.35 median: 0.342 EME: 0.054 low: 0.0 |
|
| Debt To Equity | 0.132 | |
| Debt To Equity QoQ | 3.586 % | |
| Debt To Equity YoY | -38.728 % | |
| Debt To Equity IPRWA | high: 3.37 mean: 1.155 median: 0.756 EME: 0.132 low: -1.87 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 8.803 | |
| Price To Book QoQ | 2.509 % | |
| Price To Book YoY | 43.151 % | |
| Price To Book IPRWA | high: 13.43 EME: 8.803 mean: 5.508 median: 5.22 low: -5.69 |
|
| Price To Earnings (P/E) | 111.979 | |
| Price To Earnings QoQ | 13.608 % | |
| Price To Earnings YoY | 46.303 % | |
| Price To Earnings IPRWA | high: 348.684 mean: 118.64 median: 113.584 EME: 111.979 low: -225.526 |
|
| PE/G Ratio | -23.003 | |
| Price To Sales (P/S) | 7.354 | |
| Price To Sales QoQ | 5.199 % | |
| Price To Sales YoY | 56.785 % | |
| Price To Sales IPRWA | high: 42.542 median: 15.023 mean: 14.854 EME: 7.354 low: 0.198 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 88.369 | |
| Forward PE/G | -18.153 | |
| Forward P/S | 24.82 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -12.55 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.492 | |
| Asset Turnover Ratio QoQ | -2.183 % | |
| Asset Turnover Ratio YoY | 0.549 % | |
| Asset Turnover Ratio IPRWA | high: 0.603 EME: 0.492 mean: 0.219 median: 0.179 low: 0.004 |
|
| Receivables Turnover | 1.053 | |
| Receivables Turnover Ratio QoQ | -2.643 % | |
| Receivables Turnover Ratio YoY | 0.542 % | |
| Receivables Turnover Ratio IPRWA | high: 3.62 median: 1.587 mean: 1.472 EME: 1.053 low: 0.166 |
|
| Inventory Turnover | 29.356 | |
| Inventory Turnover Ratio QoQ | -6.12 % | |
| Inventory Turnover Ratio YoY | -11.41 % | |
| Inventory Turnover Ratio IPRWA | EME: 29.356 high: 5.175 mean: 1.189 median: 0.95 low: 0.087 |
|
| Days Sales Outstanding (DSO) | 86.663 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 59.957 | |
| Cash Conversion Cycle Days QoQ | 4.131 % | |
| Cash Conversion Cycle Days YoY | -0.153 % | |
| Cash Conversion Cycle Days IPRWA | high: 346.886 mean: 108.84 median: 99.582 EME: 59.957 low: -117.442 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 3.694 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -1.564 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.9 B | |
| Net Invested Capital | $ 3.9 B | |
| Invested Capital | $ 3.9 B | |
| Net Tangible Assets | $ 1.3 B | |
| Net Working Capital | $ 1.3 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.19 | |
| Current Ratio | 1.26 | |
| Current Ratio QoQ | 3.232 % | |
| Current Ratio YoY | 8.319 % | |
| Current Ratio IPRWA | high: 7.187 mean: 1.905 median: 1.463 EME: 1.26 low: 0.215 |
|
| Quick Ratio | 1.233 | |
| Quick Ratio QoQ | 3.214 % | |
| Quick Ratio YoY | 8.069 % | |
| Quick Ratio IPRWA | high: 5.249 mean: 1.317 EME: 1.233 median: 1.103 low: 0.242 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.118 | |
| Cost Of Debt | 1.265 % | |
| Interest Coverage Ratio | 48.586 | |
| Interest Coverage Ratio QoQ | -32.01 % | |
| Interest Coverage Ratio YoY | 26.694 % | |
| Interest Coverage Ratio IPRWA | high: 62.0 EME: 48.586 mean: 14.705 median: 12.303 low: -48.0 |
|
| Operating Cash Flow Ratio | -0.007 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 29.936 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 17.152 | |
| Dividend Payout Ratio | 0.058 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.332 % | |
| Revenue Growth | 2.551 % | |
| Revenue Growth QoQ | -48.14 % | |
| Revenue Growth YoY | -1.201 % | |
| Revenue Growth IPRWA | high: 43.356 % EME: 2.551 % median: -2.898 % mean: -3.321 % low: -46.572 % |
|
| Earnings Growth | -4.868 % | |
| Earnings Growth QoQ | -151.584 % | |
| Earnings Growth YoY | -70.975 % | |
| Earnings Growth IPRWA | high: 133.333 % median: 6.797 % mean: -0.938 % EME: -4.868 % low: -155.556 % |
|
| MARGINS | ||
| Gross Margin | 18.667 % | |
| Gross Margin QoQ | -5.469 % | |
| Gross Margin YoY | -0.112 % | |
| Gross Margin IPRWA | high: 69.384 % mean: 33.942 % median: 33.098 % EME: 18.667 % low: 0.355 % |
|
| EBIT Margin | 8.726 % | |
| EBIT Margin QoQ | -33.698 % | |
| EBIT Margin YoY | 5.872 % | |
| EBIT Margin IPRWA | high: 35.045 % median: 16.903 % mean: 16.636 % EME: 8.726 % low: -56.387 % |
|
| Return On Sales (ROS) | 8.726 % | |
| Return On Sales QoQ | -8.176 % | |
| Return On Sales YoY | 5.872 % | |
| Return On Sales IPRWA | high: 27.185 % median: 17.01 % mean: 15.897 % EME: 8.726 % low: -55.054 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -28.15 M | |
| Free Cash Flow Yield | -0.083 % | |
| Free Cash Flow Yield QoQ | -105.317 % | |
| Free Cash Flow Yield YoY | -118.282 % | |
| Free Cash Flow Yield IPRWA | high: 9.759 % median: 0.486 % mean: 0.332 % EME: -0.083 % low: -11.566 % |
|
| Free Cash Growth | -105.717 % | |
| Free Cash Growth QoQ | -1187.288 % | |
| Free Cash Growth YoY | 29.278 % | |
| Free Cash Growth IPRWA | high: 429.548 % mean: -53.241 % median: -59.95 % EME: -105.717 % low: -568.477 % |
|
| Free Cash To Net Income | -0.092 | |
| Cash Flow Margin | -0.715 % | |
| Cash Flow To Earnings | -0.108 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.25 % | |
| Return On Assets QoQ | -32.948 % | |
| Return On Assets YoY | 6.662 % | |
| Return On Assets IPRWA | high: 6.622 % EME: 3.25 % median: 2.473 % mean: 2.358 % low: -10.831 % |
|
| Return On Capital Employed (ROCE) | 8.617 % | |
| Return On Equity (ROE) | 0.079 | |
| Return On Equity QoQ | -33.207 % | |
| Return On Equity YoY | -3.162 % | |
| Return On Equity IPRWA | high: 0.238 EME: 0.079 mean: 0.068 median: 0.059 low: -0.207 |
|
| DuPont ROE | 8.102 % | |
| Return On Invested Capital (ROIC) | 7.781 % | |
| Return On Invested Capital QoQ | -36.012 % | |
| Return On Invested Capital YoY | 5.277 % | |
| Return On Invested Capital IPRWA | high: 10.051 % EME: 7.781 % median: 3.676 % mean: 3.519 % low: -9.21 % |
|