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EMCOR GroupEME

Legal name
EMCOR Group, Inc.
Sector
Energy
Industry
Electrical Work
Exchange
NYSE

Stock Price $EME

Latest filings

You are here#69 of 116 in Industrials by market cap

Filing record · 2016–202610-K1110-Q338-K77

EME filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 77 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Aug ’16Aug ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Jun ’21Jun ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

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

  18. $16.99B
YoY changeLargest recent move+15.8%in FY24Latest +16.6%

1 older move runs past ±20% (largest −23.0%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All EME Financial Metrics55 metrics

Income Statement13

Balance Sheet24

Cash Flow13

Per Share5

02—Overview

EMCOR Group Financial Overview 2021–2025

Updated Nov 2, 2026

EMCOR Group's backlog surged to a record $17.14 billiona 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 billionb 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 billionc 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 (Q2 and Q3 2026)

EMCOR’s operational momentum accelerated through Q3 2026, highlighted by record quarterly revenue of $5.54 billiond, a 28.8% year-over-year increase. Strong demand pushed the backlog to a new high of $18.57 billion, up 47.2% from the prior year. This robust top-line performance translated into a 34.5% jump in operating income to $545.8 million, achieving a 9.8% margin. Management subsequently raised full-year 2026 revenue guidance to a range of $20.6 billion to $21.0 billion and authorized an additional $500 million for share repurchases.

Bulls point to the company’s massive organic growth—reaching 25.5% in Q3 2026—and an increased $0.40e quarterly dividend as proof of sustained execution. Conversely, bears might highlight a $34.0 million non-cash impairment charge in the building services segment as a potential margin drag. Valued at 24.5x earnings as of the October 29, 2026 results, the stock appears richly priced but is supported by continuous upward guidance revisions.

What to watch: margin sustainability as recent acquisitions integrate; performance in the U.S. building services segment following the impairment charge.

03—Filings

Recent SEC Filings

  1. 8-KEMCOR Group 8-K Report, Financial Results (Oct 29, 2026)EMCOR Group, Inc. has reported exceptionally strong results for its fiscal 2026 third quarter, driven by a significant increase in revenues and improved operating margins. Revenues surged by 28.8% year-over-year to a quarterly record of $5.54 billion, with organic growth also demonstrating robust performance. This top-line expansion, coupled with effective cost management and enhanced SG&A leverage, led to a substantial increase in profitability. Key financial metrics showcase this growth, with diluted Earnings Per Share (EPS) rising by 37.6% to $9.04 and Non-GAAP Diluted EPS increasing by 46.1% to $9.60. The company also reported a record backlog of $18.57 billion in Remaining Performance Obligations (RPOs), up 47.2% year-over-year, indicating strong future revenue visibility across various sectors, particularly in Network and Communications, Healthcare, and Manufacturing. Based on this momentum, EMCOR has raised its full-year 2026 guidance for both revenue and Non-GAAP Diluted EPS, reflecting management's confidence in continued strong performance. Additionally, the company announced a $500 million increase to its share repurchase program, signaling a commitment to returning capital to shareholders.
  2. 8-KEMCOR Group 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.
  3. 8-KEMCOR Group 8-K Report, Financial Results (Jul 30, 2026)EMCOR Group (NYSE: EME) reported a strong fiscal 2026 second quarter ended June 30, 2026, with record quarterly revenues of $5.15 billion, up 19.8% year-over-year (organic growth of 19.6% after adjusting for acquisitions and the sale of its UK operations). Operating income rose to $547.3 million, a record second-quarter operating margin of 10.6% versus 9.6% a year ago, and diluted EPS reached $9.06, up 34.8%. Remaining performance obligations (RPOs) hit a record $17.14 billion, up 43.9% year-over-year, providing substantial revenue visibility. Growth was broad-based across the U.S. electrical, mechanical, building services, and industrial segments, with the largest RPO gains in Network and Communications, Water and Wastewater, Institutional, and Healthcare. Management raised full-year 2026 guidance meaningfully: revenues to $20.00–$20.50 billion (from $18.50–$19.25 billion), operating margin to 9.5%–9.8% (from 9.0%–9.4%), and diluted EPS to $32.00–$33.25 (from $28.25–$29.75). The guidance raise reflects year-to-date momentum and visibility into the second half, and management emphasized pricing discipline and selective project selection. Balance sheet and cash flow show a more mixed picture. Operating cash flow for the first half was $289.9 million, down from $302.2 million, as working capital consumed $525.9 million, driven largely by a $0.9 billion increase in accounts receivable and a $0.3 billion rise in contract liabilities. Cash fell to $924.4 million from $1.11 billion at year-end, reflecting $268.5 million in buybacks, $94.2 million of acquisition payments, and $35.6 million in dividends. Quarterly dividends were increased to $0.40 per share from $0.25 a year earlier.
  4. 8-KEMCOR Group 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.
  5. 8-KEMCOR Group 8-K Report, Financial Results (Apr 29, 2026)EMCOR Group (NYSE: EME) reported record first-quarter 2026 results on April 29, 2026, with revenues of $4.63 billion, up 19.7% year-over-year (16.8% organic). Diluted EPS was $6.84, up 30.0% from $5.26 in the prior-year quarter, which included Miller Electric acquisition transaction costs (non-GAAP Q1 2025 diluted EPS was $5.41, so underlying growth is roughly 26%). Operating margin expanded to 8.7% from 8.2% GAAP (8.5% non-GAAP), and SG&A fell to 9.9% of revenue from 10.4%, indicating operating leverage. Net income was $305.5 million. The most notable forward-looking signal is backlog: remaining performance obligations reached a record $15.62 billion, up 32.9% year-over-year and up roughly $2.4 billion from December 31, 2025, with growth led by Network and Communications, Water and Wastewater, Institutional, and Healthcare. Management raised full-year 2026 revenue guidance to $18.50–$19.25 billion (from $17.75–$18.50 billion) and diluted EPS guidance to $28.25–$29.75 (from $27.25–$29.25), while holding operating margin guidance at 9.0%–9.4%. Investors should note some balance-sheet and cash-flow considerations. Operating cash flow was essentially breakeven at $0.6 million versus $108.5 million a year earlier, driven by a $354.8 million working capital outflow, including a rise in receivables to $4.55 billion. Cash fell to $916.4 million, though the company paid higher dividends ($0.40 declared per share versus $0.25) and repurchased $87.1 million of stock. The filing is furnished rather than filed under Item 2.02, so the press release is not subject to Section 18 liability unless specifically incorporated by reference.
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04—See also

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