EME financial statements

The full income statement, balance sheet, and cash-flow statement for EMCOR Group Inc. (EME), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	17.0B YoY+16.6%	14.6B YoY+15.8%	12.6B YoY+13.6%	11.1B YoY+11.8%	9.90B YoY+12.6%
	3.28B YoY+18.7%	2.77B YoY+32.3%	2.09B YoY+30.3%	1.60B YoY+6.8%	1.50B YoY+7.6%
Cost of revenue	13.7B YoY+16.1%	11.8B YoY+12.5%	10.5B YoY+10.8%	9.47B YoY+12.7%	8.40B YoY+13.5%
Selling, general & administrative	1.71B YoY+20.7%	1.42B YoY+17.3%	1.21B YoY+16.6%	1.04B YoY+7.0%	971M YoY+7.5%
Restructuring	—	—	—	0.00	0.00 YoY-100.0%
Amortization of intangibles	119M YoY+54.6%	77.0M YoY+14.7%	67.1M YoY+9.5%	61.3M YoY-4.3%	64.1M YoY+6.9%
Provision for credit losses	7.67M YoY-55.7%	17.3M YoY+120.2%	7.86M YoY+52.1%	5.17M YoY-35.8%	8.04M YoY+146.0%
Operating income	1.71B YoY+27.4%	1.34B YoY+53.6%	876M YoY+55.0%	565M YoY+6.4%	531M YoY+106.7%
Interest expense	12.0M YoY+218.1%	3.78M YoY-78.0%	17.2M YoY+30.3%	13.2M YoY+117.4%	6.07M YoY-32.6%
Interest & investment income	20.0M YoY-43.5%	35.4M YoY+129.7%	15.4M YoY+458.3%	2.76M YoY+190.9%	949K YoY-37.6%
Equity-method income	62.0K YoY-36.7%	98.0K YoY-94.1%	1.66M YoY+324.6%	391K YoY+133.4%	-1.17M YoY-8457.1%
Pre-tax income	1.72B YoY+25.0%	1.38B YoY+57.8%	873M YoY+56.2%	559M YoY+5.6%	529M YoY+109.8%
Income tax	449M YoY+21.2%	370M YoY+54.6%	240M YoY+56.9%	153M YoY+4.8%	146M YoY+22.0%
	1.27B YoY+26.4%	1.01B YoY+59.1%	633M YoY+55.9%	406M YoY+5.9%	384M YoY+188.5%
Net income to non-controlling interest	0.00	0.00 YoY-100.0%	335K	0.00 YoY-100.0%	169K
	$28.19 YoY+31.0%	$21.52 YoY+61.7%	$13.31 YoY+64.3%	$8.10 YoY+14.7%	$7.06 YoY+194.2%
EPS (basic)	$28.30 YoY+31.0%	$21.61 YoY+61.6%	$13.37 YoY+64.5%	$8.13 YoY+14.7%	$7.09 YoY+194.2%
	45.0M YoY-3.5%	46.6M YoY-1.6%	47.4M YoY-5.2%	49.9M YoY-7.7%	54.1M YoY-2.0%
	45.1M YoY-3.6%	46.8M YoY-1.6%	47.6M YoY-5.1%	50.1M YoY-7.7%	54.3M YoY-1.9%
Dividends per share	$1.00 YoY+7.5%	$0.93 YoY+34.8%	$0.69 YoY+27.8%	$0.54 YoY+3.8%	$0.52 YoY+62.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.94B YoY+10.2%	5.39B YoY+21.2%	4.45B YoY+28.5%	3.46B YoY+2.1%	3.39B YoY+8.7%
Cash & equivalents	1.11B YoY-17.0%	1.34B YoY+69.6%	790M YoY+73.0%	456M YoY-44.4%	821M YoY-9.0%
Accounts receivable	4.24B YoY+18.6%	3.58B YoY+11.7%	3.20B YoY+24.8%	2.57B YoY+16.5%	2.20B YoY+14.7%
Prepaid expenses	120M YoY+31.2%	91.6M YoY+25.4%	73.1M YoY-7.9%	79.3M YoY-1.9%	80.9M YoY+14.4%
	9.29B YoY+20.4%	7.72B YoY+16.7%	6.61B YoY+19.6%	5.52B YoY+1.5%	5.44B YoY+7.5%
Property, plant & equipment	253M YoY+22.1%	207M YoY+15.7%	179M YoY+13.7%	158M YoY+3.8%	152M YoY-4.0%
Operating lease right-of-use	439M YoY+38.9%	316M YoY+1.8%	310M YoY+15.8%	268M YoY+2.8%	261M YoY+7.7%
Goodwill	1.41B YoY+38.7%	1.02B YoY+6.5%	957M YoY+4.1%	919M YoY+3.2%	890M YoY+4.5%
Intangible assets	1.11B YoY+71.1%	648M YoY+10.6%	586M YoY-1.3%	594M YoY+0.8%	589M YoY+1.1%
Other non-current assets	141M YoY+2.5%	137M YoY+5.2%	130M YoY+5.4%	124M YoY-21.7%	158M YoY+46.8%
	4.86B YoY+17.1%	4.15B YoY+18.1%	3.52B YoY+27.8%	2.75B YoY+16.6%	2.36B YoY+9.2%
Accounts payable	1.23B YoY+31.0%	937M YoY+0.1%	936M YoY+10.2%	849M YoY+15.7%	734M YoY+9.3%
Deferred revenue	2.33B YoY+13.7%	2.05B YoY+28.4%	1.60B YoY+45.2%	1.10B YoY+39.3%	788M YoY+9.1%
Current lease liability	99.2M YoY+22.1%	81.2M YoY+8.0%	75.2M YoY+11.9%	67.2M YoY+16.3%	57.8M YoY+7.8%
Other current liabilities	341M YoY+1.3%	337M YoY+6.8%	315M YoY+22.0%	258M YoY-5.9%	274M YoY+10.8%
	5.62B YoY+17.6%	4.78B YoY+15.4%	4.14B YoY+16.6%	3.55B YoY+11.4%	3.19B YoY+5.9%
Deferred revenue (non-current)	837K YoY-45.2%	1.53M YoY-15.8%	1.81M YoY-20.3%	2.27M YoY-9.3%	2.50M YoY+9.7%
Non-current lease liability	369M YoY+41.1%	262M YoY+0.8%	259M YoY+17.5%	221M YoY-0.0%	221M YoY+7.5%
Other non-current liabilities	382M YoY+5.6%	362M YoY+0.3%	361M YoY+4.9%	344M YoY-4.4%	360M YoY-5.8%
	3.67B YoY+25.1%	2.94B YoY+18.9%	2.47B YoY+25.1%	1.97B YoY-12.4%	2.25B YoY+9.7%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	613K YoY+0.2%	612K YoY+0.2%	611K YoY+0.3%	609K YoY+0.3%	607K YoY+0.2%
Additional paid-in capital	101M YoY+4.0%	97.5M YoY+6.2%	91.8M YoY+22.8%	74.8M YoY+20.9%	61.9M YoY+30.4%
Retained earnings	6.01B YoY+25.7%	4.78B YoY+25.3%	3.81B YoY+18.7%	3.21B YoY+13.4%	2.84B YoY+14.3%
Treasury stock	2.43B YoY+31.2%	1.85B YoY+37.1%	1.35B YoY+10.5%	1.22B YoY+117.5%	562M YoY+53.4%
Accumulated other comprehensive income	-1.92M YoY+97.8%	-85.5M YoY+0.2%	-85.7M YoY+8.3%	-93.5M YoY-11.8%	-83.6M YoY+23.5%
Non-controlling interest	1.04M YoY+0.0%	1.04M YoY+0.0%	1.04M YoY+47.7%	702K YoY+0.0%	702K YoY+21.9%
Total equity incl. non-controlling	3.67B YoY+25.1%	2.94B YoY+18.9%	2.47B YoY+25.1%	1.97B YoY-12.4%	2.25B YoY+9.7%
Total liabilities & equity	9.29B YoY+20.4%	7.72B YoY+16.7%	6.61B YoY+19.6%	5.52B YoY+1.5%	5.44B YoY+7.5%
	61.3M YoY+0.1%	61.2M YoY+0.2%	61.1M YoY+0.2%	60.9M YoY+0.3%	60.7M YoY+0.3%
	44.5M YoY-2.8%	45.8M YoY-2.6%	47.0M YoY-1.3%	47.7M YoY-10.6%	53.3M YoY-2.7%
	44.5M YoY-2.1%	45.5M YoY-3.4%	47.1M YoY-1.3%	47.7M YoY-9.5%	52.7M YoY-3.9%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.30B YoY-7.5%	1.41B YoY+56.5%	900M YoY+80.7%	498M YoY+56.2%	319M YoY-60.5%
Depreciation & amortization	67.4M YoY+18.9%	56.7M YoY+9.4%	51.8M YoY+9.6%	47.3M YoY-2.2%	48.3M YoY+3.5%
Deferred income taxes	-16.1M YoY+44.9%	-29.1M YoY-74.9%	-16.7M YoY-258.8%	10.5M YoY+10.2%	9.52M YoY+126.2%
Change in receivables	438M YoY+40.5%	312M YoY-50.3%	626M YoY+84.2%	340M YoY+37.8%	247M YoY+277.1%
Change in inventory	27.0M YoY+249.9%	-18.0M YoY-176.7%	23.4M YoY-25.7%	31.5M YoY+27090.5%	116K YoY-99.1%
Change in payables	189M YoY+1332.6%	-15.4M YoY-118.7%	82.2M YoY-26.3%	111M YoY+103.3%	54.8M YoY+707.9%
	-874M YoY-191.9%	-299M YoY-85.6%	-161M YoY-14.6%	-141M YoY+8.0%	-153M YoY-61.4%
Capital expenditure	113M YoY+50.4%	75.0M YoY-4.4%	78.4M YoY+59.1%	49.3M YoY+36.2%	36.2M YoY-24.6%
Free cash flow	1.19B YoY-10.8%	1.33B YoY+62.3%	821M YoY+83.1%	449M YoY+58.7%	283M YoY-62.7%
Acquisitions	1.02B YoY+348.0%	228M YoY+136.5%	96.5M YoY-2.2%	98.7M YoY-16.6%	118M YoY+134.8%
Proceeds from sale of PP&E	4.65M YoY+21.0%	3.84M YoY-71.8%	13.6M YoY+90.4%	7.14M YoY+159.4%	2.75M YoY-20.5%
	-664M YoY-19.5%	-555M YoY-34.8%	-412M YoY+42.0%	-710M YoY-189.3%	-245M YoY-42.8%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Long-term debt repaid	0.00	0.00 YoY-100.0%	246M YoY+1674.2%	13.9M YoY+0.0%	13.9M YoY-95.2%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	586M YoY+19.7%	490M YoY+283.5%	128M YoY-80.7%	661M YoY+237.8%	196M YoY+73.7%
Dividends paid	45.0M YoY+3.8%	43.4M YoY+32.7%	32.7M YoY+20.2%	27.2M YoY-3.5%	28.2M YoY+59.3%
Net change in cash	-228M YoY-141.5%	551M YoY+65.5%	333M YoY+191.0%	-366M YoY-351.3%	-81.0M YoY-114.9%
Interest paid	11.1M YoY+290.5%	2.85M YoY-82.5%	16.2M YoY+39.4%	11.7M YoY+121.6%	5.26M YoY-36.6%
Income taxes paid	483M YoY+18.1%	409M YoY+77.6%	230M YoY+36.6%	169M YoY+29.0%	131M YoY-10.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	27.2B YoY+32.0%	20.6B YoY+103.7%	10.1B YoY+43.6%	7.06B YoY+5.2%	6.71B YoY+33.9%
P/E	21.4× YoY+4.4%	20.5× YoY+10.8%	18.5× YoY-0.0%	18.5× YoY+5.8%	17.5× YoY-53.6%
P/S	1.6× YoY+13.2%	1.4× YoY+69.1%	0.8× YoY+27.8%	0.7× YoY-3.2%	0.7× YoY+18.9%
P/B	7.4× YoY+5.5%	7.0× YoY+58.0%	4.4× YoY+16.0%	3.8× YoY+28.7%	3.0× YoY+22.0%
P/FCF	22.9× YoY+47.9%	15.5× YoY+2.2%	15.2× YoY-15.3%	17.9× YoY-24.6%	23.7× YoY+259.2%
	4.7% YoY-4.3%	4.9% YoY-9.7%	5.4% YoY+0.0%	5.4% YoY-5.5%	5.7% YoY+115.5%
	4.4% YoY-32.4%	6.5% YoY-2.1%	6.6% YoY+18.1%	5.6% YoY+32.6%	4.2% YoY-72.2%
	0.16% YoY-20.2%	0.20% YoY-36.0%	0.32% YoY-12.2%	0.36% YoY-10.7%	0.41% YoY+16.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EME's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EME filings on SEC EDGAR → Not investment advice.