EMCOR Group, Inc.EME

EMCOR Group, Inc. Financial Overview 2021–2025

Updated Aug 8, 2026

EMCOR Group's backlog surged to a record $17.14 billion by the end of Q2 2026, capturing the sheer scale of the ongoing United States non-residential construction supercycle. The specialty contractor is capitalizing on a structural boom in data centers and high-tech manufacturing, consistently converting this top-line demand into persistent margin expansion and operating leverage.

The company's financial trajectory highlights relentless operational execution, as revenue expanded from $9.9 billion in FY2021 to a record $16.99 billion in FY2025. More importantly, EMCOR is commanding superior pricing power and efficiency as it scales its operations. Operating margins reached 10.1% in FY2025, driving annual operating income to $1.71 billion. Strategic inorganic growth also accelerated this momentum, punctuated by the $865 million cash acquisition of Miller Electric in Q1 2025, which significantly deepened the firm's electrical construction footprint in high-growth regions.

This compounding earnings power has fundamentally reshaped the contractor's equity profile. At the close of FY2025, the market valued EMCOR at a $27.2 billion market capitalization, with the stock trading at $611.79 and a 21.7x price-to-earnings multiple. Supported by active repurchases that reduced the outstanding share count to 0.04 billion, the company has successfully leveraged infrastructure tailwinds into highly visible shareholder returns.

Recent Developments (Q1 and Q2 2026)

EMCOR sustained its explosive top-line trajectory in the first half of 2026. Revenue in Q2 2026 grew 19.8% year-over-year to a record $5.15 billion, following a 19.7% jump to $4.63 billion in Q1 2026. Profitability accelerated alongside this growth. Operating income in Q2 2026 climbed 32.1% to $547.3 million, driving operating margins to 10.6% from 9.6% a year earlier. Consequently, quarterly diluted earnings per share advanced to $9.06. Operationally, a subsidiary received an imminent danger order at a Texas mine on July 28, 2026, though no injuries occurred during the forklift incident. Bulls will emphasize that sustained top-line expansion and operational efficiency justify a premium market valuation. Conversely, bears may caution that the stock is richly priced at 28.5x earnings as of July 30, 2026, leaving little margin for error.

What to watch: safety protocol reviews at the Texas mining site; integration of recent acquisitions that added $169.2 million to Q2 2026 revenues.

Rev

$16.99B

+16.6% YoY

FY2025

NI

$1.27B

+26.4% YoY

FY2025

EPS

$28.30

+31.0% YoY

FY2025

OCF

$1.30B

-7.5% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All EME Financial Metrics(55)

Recent SEC Filings

EMCOR Group, Inc. 8-K Report, Mine Safety Disclosure (Jul 31, 2026)

EMCOR Group, Inc. (EME) is reporting an operational event concerning its wholly-owned, indirect subsidiary, MOR PPM, Inc. On July 28, 2026, MOR PPM received an imminent danger order from the Mine Safety and Health Administration (MSHA) related to its Sivells Bend mine in Texas. The order was issued following an observation by an MSHA inspector of a worker performing welding at a significant height, supported by a forklift, which was deemed an unsafe practice. Importantly, no injuries were reported in connection with this incident. While the order signifies a regulatory action and potential operational disruption at the Sivells Bend mine, the lack of injuries is a positive aspect for the company. Investors should monitor any further developments from MSHA and EMCOR regarding corrective actions and the resolution of this imminent danger order, as it could potentially impact the operational status or expenses at the affected mine.

EMCOR Group, Inc. 8-K Report, Financial Results (Jul 30, 2026)

EMCOR Group, Inc. has filed an 8-K report on July 30, 2026, to disclose its financial results for the second fiscal quarter ended June 30, 2026. The key information is contained within an accompanying press release furnished as Exhibit 99.1. Investors should refer to this press release for detailed financial performance and operational highlights during the period. While the 8-K itself is procedural, the press release is crucial for understanding EMCOR's performance, including revenue, profitability, and any forward-looking guidance. It is important to note that the information furnished in this report is not deemed "filed" under Section 18 of the Exchange Act, meaning it doesn't carry the same legal liabilities for inaccuracies as formally filed documents, but it is still the primary source of disclosure for this period's results.

EMCOR Group, Inc. 8-K Report, Shareholder Vote Results (Jun 4, 2026)

EMCOR Group, Inc. (EME) filed an 8-K on June 4, 2026, reporting the outcomes of its 2026 Annual Meeting of Stockholders. The primary focus of this filing is the voting results on three key proposals presented to shareholders. All incumbent directors standing for election were overwhelmingly re-elected, indicating strong shareholder confidence in the current board leadership. Additionally, the compensation of the company's named executive officers was approved on a non-binding advisory basis, and the appointment of Ernst & Young LLP as the independent auditor for 2026 was ratified with substantial support.

EMCOR Group, Inc. 8-K Report, Financial Results (Apr 29, 2026)

EMCOR Group, Inc. (EME) has filed an 8-K on April 29, 2026, to report on its financial results for the fiscal 2026 first quarter, which concluded on March 31, 2026. The filing primarily serves to attach the press release that details these operational and financial outcomes. Investors should refer to Exhibit 99.1 for the comprehensive financial data and commentary provided by the company regarding its performance during this period. While the 8-K itself is brief and directs readers to the press release, the significance lies in the information contained within that accompanying document. The press release will offer insights into key performance indicators, revenue figures, profitability, and any forward-looking statements or guidance that EMCOR may have issued. Investors are advised to review the press release thoroughly to understand the company's current financial health and its outlook for the remainder of fiscal year 2026.

EMCOR Group, Inc. 8-K Report, Financial Results (Feb 26, 2026)

EMCOR Group, Inc. (EME) filed an 8-K on February 26, 2026, to report its fiscal 2025 fourth quarter and full-year results. While the 8-K itself does not contain the detailed financial figures, it directs investors to a furnished press release (Exhibit 99.1) for this information. Investors should refer to this press release for specific operational and financial condition data for the period ending December 31, 2025. This filing serves as notification of the release of the company's latest financial performance data. The information is intended to update stakeholders on EMCOR's recent business activities and financial standing. The company has clarified that the information furnished in this report is not considered 'filed' for certain regulatory purposes, which is standard practice for such filings that reference an attached press release.

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