Emcor Group, Inc.
EME
Electrical Work
Mkt Cap
$18.57BPE
25.84Debt
-Cash
$841MEV
-FCF
$1.041BP/E Ratio
25.84Debt
-Cash
$841MEV
-FCF
$1.041BCharts data: {"Earnings":[{"time":"2014-12-30","value":168664000},{"time":"2015-12-30","value":172286000},{"time":"2016-12-30","value":181935000},{"time":"2017-12-30","value":227193000},{"time":"2018-12-30","value":283531000},{"time":"2019-12-30","value":325140000},{"time":"2020-12-30","value":132943000},{"time":"2021-12-30","value":383532000},{"time":"2022-12-30","value":406122000},{"time":"2023-12-30","value":632994000}],"Sales":[{"time":"2014-12-30","value":6424965000},{"time":"2015-12-30","value":6718726000},{"time":"2016-12-30","value":7551524000},{"time":"2017-12-30","value":7686999000},{"time":"2018-12-30","value":8130631000},{"time":"2019-12-30","value":9174611000},{"time":"2020-12-30","value":8797061000},{"time":"2021-12-30","value":9903580000},{"time":"2022-12-30","value":11076120000},{"time":"2023-12-30","value":12582873000}],"Net Margins":[{"time":"2014-12-30","value":0.02625134922913977},{"time":"2015-12-30","value":0.02564265903982392},{"time":"2016-12-30","value":0.02409248782100143},{"time":"2017-12-30","value":0.029555487128331875},{"time":"2018-12-30","value":0.034871955202492894},{"time":"2019-12-30","value":0.03543910472062521},{"time":"2020-12-30","value":0.015112206224328784},{"time":"2021-12-30","value":0.03872660189547618},{"time":"2022-12-30","value":0.03666644998429053},{"time":"2023-12-30","value":0.05030599927377476}],"Assets":[{"time":"2014-12-30","value":3388967000},{"time":"2015-12-30","value":3546470000},{"time":"2016-12-30","value":3894170000},{"time":"2017-12-30","value":3965904000},{"time":"2018-12-30","value":4088807000},{"time":"2019-12-30","value":4830358000},{"time":"2020-12-30","value":5063840000},{"time":"2021-12-30","value":5441446000},{"time":"2022-12-30","value":5524607000},{"time":"2023-12-30","value":6609721000}],"Stockholders Equity":[{"time":"2014-12-30","value":1429387000},{"time":"2015-12-30","value":1480056000},{"time":"2016-12-30","value":1537942000},{"time":"2017-12-30","value":1674117000},{"time":"2018-12-30","value":1741441000},{"time":"2019-12-30","value":2057780000},{"time":"2020-12-30","value":2053244000},{"time":"2021-12-30","value":2253089000},{"time":"2022-12-30","value":1974291000},{"time":"2023-12-30","value":2470815000}],"ROE":[{"time":"2014-12-30","value":0.11799743526420767},{"time":"2015-12-30","value":0.11640505494386699},{"time":"2016-12-30","value":0.11829769913299722},{"time":"2017-12-30","value":0.13570915294450747},{"time":"2018-12-30","value":0.16281401437085724},{"time":"2019-12-30","value":0.15800522893603786},{"time":"2020-12-30","value":0.06474778448153264},{"time":"2021-12-30","value":0.17022496670127102},{"time":"2022-12-30","value":0.20570523798163493},{"time":"2023-12-30","value":0.2561883427128296}],"ROA":[{"time":"2014-12-30","value":0.08578425225149729},{"time":"2015-12-30","value":0.08113842778875896},{"time":"2016-12-30","value":0.07938045848024097},{"time":"2017-12-30","value":0.08359229068580581},{"time":"2018-12-30","value":0.09992450120536381},{"time":"2019-12-30","value":0.09620611971203791},{"time":"2020-12-30","value":0.0516080681854087},{"time":"2021-12-30","value":0.09838818578738077},{"time":"2022-12-30","value":0.10352754503623515},{"time":"2023-12-30","value":0.1346580286822999}]}
EMCOR Group, Inc. provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services. The company also provides building services that cover commercial and government site-based operations and maintenance; facility management, maintenance, and services; outage services to utilities and industrial plants; military base operations support services; mobile mechanical maintenance and services; services for indoor air quality; floor care and janitorial services; landscaping, lot sweeping, and snow removal services; vendor management and call center services; installation and support for building systems; program development, management, and maintenance for energy systems; technical consulting and diagnostic services; infrastructure and building projects; small modification and retrofit projects; and other building services. It offers industrial services to oil, gas, and petrochemical industries. The company was incorporated in 1987 and is headquartered in Norwalk, Connecticut.
DCF
Discounted Cash Flow Valuation of Emcor Group, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $1.041B | $1.192B | $1.353B | $1.521B | $1.694B | $1.869B | $2.041B | $2.208B | $2.366B | $2.509B | $2.635B | $26.35B |
| DCF | $1.037B | $1.023B | $1B | $968.6M | $929.1M | $882.6M | $830.2M | $773.4M | $713.2M | $651.2M | $6.512B | |
| Value | $15.32B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 14%
Earnings Stability 57%
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 2.6% | 2.4% | 3% | 3.5% | 3.5% | 1.5% | 3.9% | 3.7% | 5% | 5.5% |
| ROA | 8.1% | 7.9% | 8.4% | 10% | 9.6% | 5.2% | 9.8% | 10% | 13% | 15% |
| ROE | 12% | 12% | 14% | 16% | 16% | 6.5% | 17% | 21% | 26% | 27% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +3.52%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +0.3%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +9.74%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.69%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +16.96%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +2.04%.
Safety & Stabiliy
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 1.30 | 1.82 | 0.94 | 1.30 | 0.96 | 0.36 | 0.93 | 0.55 | 0.01 | - |
| Debt Equity | 0.20 | 0.27 | 0.19 | 0.17 | 0.14 | 0.13 | 0.12 | 0.13 | 0.00 | - |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 100% | 48% | 100% | 100% | 100% | 48% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -0.20.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.48.
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 | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 7.6% | 9.1% | 13% | 14% | 0.77% |
| Net Income | 19% | 17% | 68% | 56% | 7.7% |
| Stockholders Equity | 7% | 7.2% | 6.4% | 25% | 0.58% |
| FCF | 20% | 29% | 2.7% | 83% | 7.2% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +9.13%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +0.77%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +17.42%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is +7.65%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +7.25%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +0.58%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +29.27%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +7.19%.