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EMCOR Group
NYSE: EME Industrials Infra 🔎 Screen
S&P 500
$34.9B
Market Cap
21.7
P/E
0.78
PEG
50.9%
ROCE
38.5%
ROE
0.10
D/E
10.1%
OPM
-19.0%
% from 52W High
54
α RS
🔍 EME is showing a high-conviction setup because it matches 19 of 37 tracked screener presets, an ECS of 70.1 last quarter, and it's within 19% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction ECS 52W High
Sources
Conviction 19/37 · ECS 70.1 · 19% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for EME including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

EMCOR Group, Inc. provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding EME
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 17.9K $13.2M 0.02% Mar 2026
Jim Simons Renaissance Technologies LLC 600 $443K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$5.15B
+19.8% YoY
Operating Income
$0.55B
+31.8% YoY
Operating Margin
10.6%
+1.0pp YoY
Net Income
$403.7M
+33.6% YoY
What Went Right
  • Record quarterly revenue of $5.15B, up 19.8% YoY, with organic growth of 19.6%.
  • Record RPOs of $17.14B, up 43.9% YoY and 10% sequentially, with 95% of growth organic.
  • Electrical construction revenue up 24% with 13.9% operating margin; mechanical revenue up 31% with 12.5% operating margin.
  • Diluted EPS rose 34.8% to $9.06; operating margin expanded 100bps to 10.6%.
What to Watch
  • Mechanical construction operating margin fell 110bps YoY due to a higher mix of construction manager/prime and GMP/cost-plus contracts.
  • Back-half industrial services turnaround activity may be softer than normal because Middle East refiners are keeping production online.
  • Macroeconomic risks remain: geopolitical conflicts, commodity cost fluctuations, and equipment lead-time volatility.
  • Acquisitions will contribute only $250-275M of revenue in H2 and limited near-term diluted EPS accretion due to backlog amortization.
Management Guidance
  • Full-year 2026 revenue guidance raised to $20.0-20.5B from $18.5-19.25B.
  • Full-year 2026 diluted EPS guidance raised to $32.00-33.25 from $28.25-29.75.
  • Pending five acquisitions expected to add $250-275M of revenues in the second half; EPS impact moderated by intangible amortization and lower net interest income.
Investor Lens
The investment thesis is stronger after this quarter. EMCOR delivered record revenue, margins, EPS, and RPOs, and raised full-year guidance well above prior expectations. The 44% RPO growth, driven largely by data centers and broad-based across water/wastewater, healthcare, and institutional, provides unusually high revenue visibility. The main watch items are margin mix pressure in mechanical and macro/geopolitical risks, but execution remains strong.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2: Rev $5.15B, EPS $9.06, RPO $17.14B, FY guide up
Revenue
Revenue was $5.15B, up 19.8% YoY, with organic growth of 19.6% after excluding acquisitions and the EMCOR UK divestiture. Electrical construction grew 24%, mechanical construction grew 31%, building services grew 5.6%, and industrial services grew 26%.
Profitability
Net income was $403.7M, up 33.6% YoY, with diluted EPS of $9.06, up 34.8% YoY. Operating income increased 31.8% to $547.3M, setting a record for a second quarter.
Margins
Operating margin was 10.6%, up 100bps YoY; gross margin improved 40bps to 19.8%; SG&A margin fell 50bps to 9.2%. Electrical construction operating margin expanded 210bps to 13.9%, while mechanical construction operating margin declined 110bps to 12.5% on contract mix.
Balance Sheet
Cash on hand was $924M and working capital was $1.45B. Second-quarter operating cash flow was $289.4M, with year-to-date operating cash flow comparable to the prior-year period despite growth-related working capital investment.
Key Risks
Management flagged continued macroeconomic uncertainties including geopolitical conflicts, commodity cost fluctuations, and equipment lead-times. Mechanical construction margins face ongoing mix pressure from GMP/cost-plus and prime/CM contracts. Industrial services turnaround activity could be weaker in the back half due to Middle East production staying online.
Outlook
EMCOR raised full-year 2026 revenue guidance to $20.0-20.5B and diluted EPS guidance to $32.00-33.25. The outlook assumes sustained demand, strong execution, and continued SG&A leverage, with back-half margins expected to look similar to the first half of the year.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Record quarterly revenue and operating income driven by strong organic growth, robust demand in data centers and core markets, and successful acquisitions. Raised full-year guidance, with record RPOs providing strong visibility and continued margin discipline.
Q1 2026 Q1 2026 2026-04-29
Q1 2026 saw record revenue and earnings growth, driven by strong demand in data centers and core sectors. RPOs surged to $15.62 billion, supporting raised full-year guidance. Margins remained robust despite mix shifts, and capital allocation focused on growth and shareholder returns.
Q4 2025 Q4 2025 2026-02-26
Record 2025 results included $16.99B in revenue, 20% EPS growth, and robust margins, driven by data center and diversified sector demand. Guidance for 2026 projects continued growth, with a strong backlog and balanced capital allocation strategy.
Q3 2025 Q3 2025 2025-10-30
Record Q3 results featured 16.4% revenue growth, 13.3% EPS increase, and robust operating margins, driven by strong demand in data centers, healthcare, and manufacturing. RPOs reached a record $12.6 billion, and guidance for 2025 was raised, reflecting continued momentum and disciplined capital allocation.
Q2 2025 Q2 2025 2025-07-31
Q2 2025 delivered record revenue, EPS, and operating margin, with strong growth in construction segments and RPOs. Guidance for 2025 was raised, reflecting continued margin strength and robust demand in data centers, healthcare, and manufacturing.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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