Ameresco, Inc.

Consumer Discretionary
Engineering & Construction
www.ameresco.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.44B
PE 29
Debt $1.66B
Cash $204.39M
EV $2.89B
FCF -$365.02M

Earnings

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Sales & Net Margins

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Earnings	$49.74M
EBIT	$98.18M
ROE	5%
ROA	2%
FCF	-$365.02M
Equity	$966.74M
Growth Stability	85%
PE	28.9
PEG	5.56
PB	1.49
P/FCF	-3.94
P/S	0.86
Price/Cash	0.14
Debt/Equity	1.72
Debt/FCF	-4.55
Net Margins	1%
Gross Margins	16%
Op. Margins	6%
Earnings CAGR	33%
Sales Growth YoY	49%
Sales Growth QoQ	14%
Sales CAGR	13%
Equity CAGR	16%
Earnings Stability	0.6
Earnings Growth YoY	-20%

Earnings Growth QoQ	228%
Earnings CAGR 5Y	5%
Sales CAGR 5Y	13%
Equity CAGR 5Y	21%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
Equity CAGR 3Y	11%
Market Cap	$1.44B
Revenue	$1.68B
Assets	$3.98B
Total Debt	$1.66B
Cash	$204.39M
Shares Outstanding	52.35M
EV	2.89B
Earnings Score	88%
Moat Score	46%
Safety Score	61%
Final Score	65%
Working Capital	259.88M
Current Ratio	1.27
Gross Profit	$263.48M
Shares Growth 3y	1%
Equity Growth QoQ	3%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Ameresco Inc provides energy efficiency solutions for facilities in North America and Europe. It focuses on projects that reduce energy, also focuses on the operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco distributes solar energy products and systems, such as PV panels, solar regulators, solar charge controllers, inverters, solar-powered lighting systems, solar-powered water pumps, solar panel mounting hardware, and other system components. The company's segment includes U.S. Regions; U.S. Federal; Canada; Non-Solar DG and All Other. It derives a majority of revenue from the U.S. Regions segment.

SEC Filings

Direct access to Ameresco, Inc. (AMRC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ameresco, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ameresco, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 33%

Stability 60%

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Ameresco, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Ameresco, Inc..

Years

Calculation mode

= -$3.7B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$365M	-$3.7B
DCF		-$332M	-$302M	-$274M	-$249M	-$227M	-$206M	-$187M	-$170M	-$155M	-$141M	-$1.4B
Value	-$3.7B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	2%	-0%	2%	5%	5%	5%	5%	6%	5%	5%	1%
ROA	-	1%	3%	4%	5%	4%	4%	4%	5%	2%	2%
ROE	-	-1%	4%	10%	10%	9%	11%	10%	11%	7%	5%

Bad Net Margins (1.3%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-1.31	-1.41	-1.01	-1.57	-1.25	-1.35	-1.3	-1.4	-2.45	-4.55
Debt over Equity	0.4	0.46	0.63	0.67	0.74	0.96	0.77	0.65	1.03	1.61	1.72
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	85%	85%

Good Debt/FCF ratio (-4.55)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (1.72)

The company is overleveraged and has a bad balance between equity and debt.

Neutral Graham’s Stability (85%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	6%	3%	10%	10%	10%	19%	18%	50%	-25%	13%
Earnings YoY growth	-	-125%	-570%	179%	12%	7%	34%	30%	35%	-34%	5%
Equity YoY growth	-	1%	2%	14%	12%	14%	15%	43%	24%	6%	21%
FCF YoY growth	-	282%	30%	69%	-19%	85%	-14%	24%	83%	-5%	-