Comfort Systems Usa Inc

Industrials
Engineering & Construction
www.comfortsystemsusa.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $16.51B
PE 35
Debt $74.41M
Cash $415.58M
EV $16.17B
FCF $715.94M

Earnings

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Sales & Net Margins

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Earnings	$468.14M
EBIT	$643.29M
ROE	29%
ROA	15%
FCF	$715.94M
Equity	$1.59B
Growth Stability	100%
PE	35.26
PEG	1.09
PB	10.4
P/FCF	23.06
P/S	2.53
Price/Cash	0.03
Debt/Equity	0.05
Debt/FCF	0.1
Net Margins	7%
Gross Margins	20%
Op. Margins	10%
Earnings CAGR	27%
Sales Growth YoY	32%
Sales Growth QoQ	0%
Sales CAGR	17%
FCF CAGR	30%
Equity CAGR	17%
Earnings Stability	0.96
Earnings Growth YoY	39%
Earnings Growth QoQ	9%
Earnings CAGR 5Y	32%

Sales CAGR 5Y	22%
FCF CAGR 5Y	34%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	30%
Sales CAGR 3Y	30%
FCF CAGR 3Y	97%
Equity CAGR 3Y	27%
Market Cap	$16.51B
Revenue	$6.52B
Dividend Yield	0%
Payout Ratio	8%
Assets	$4.41B
Total Debt	$74.41M
Cash	$415.58M
Shares Outstanding	35.59M
EV	16.17B
Earnings Score	95%
Moat Score	93%
Safety Score	98%
Final Score	95%
Working Capital	107.76M
Current Ratio	1.04
Gross Profit	$1.32B
Shares Growth 3y	-0%
Equity Growth QoQ	7%
Equity Growth YoY	32%

Assets & ROA

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Stockholders Equity & ROE

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Comfort Systems USA Inc provides comprehensive mechanical contracting services, including heating, ventilation, and air conditioning, or HVAC; plumbing; piping and controls; construction; and other electrical components. Projects are primarily for commercial, industrial, and institutional buildings, and tend to be geared toward HVAC. Revenue is roughly split between installation services in newly constructed facilities, and maintenance services for existing buildings. Replacing existing air systems with modern, energy-efficient systems can reduce a building's costs and improve the environment within the designated area. The company installs and repairs products and systems throughout the United States.

SEC Filings

Direct access to Comfort Systems Usa Inc (FIX) 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 Comfort Systems Usa Inc compare to its competitors?

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Peter Lynch's Chart

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

CAGR 27%

Stability 96%

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Comfort Systems Usa Inc Discounted Cash Flow

Fully customizable DCF calculator online for Comfort Systems Usa Inc.

Years

Calculation mode

= $60B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$716M	$933M	$1.2B	$1.6B	$2.1B	$2.7B	$3.5B	$4.6B	$6B	$7.8B	$10B	$102B
DCF		$849M	$1B	$1.2B	$1.4B	$1.7B	$2B	$2.4B	$2.8B	$3.3B	$3.9B	$39B
Value	$60B

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%	3%	4%	3%	5%	4%	5%	5%	6%	6%	7%
ROA	-	13%	15%	12%	14%	11%	11%	9%	10%	13%	15%
ROE	-	14%	17%	13%	23%	20%	22%	18%	25%	25%	29%

Net Margins (7.3%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

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	-	0.15	0.04	0.77	0.64	2.24	0.9	2.48	1.05	0.09	0.1
Debt over Equity	0.13	0.03	0.01	0.14	0.15	0.42	0.34	0.49	0.27	0.04	0.05
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Good Debt/FCF ratio (0.1)

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.

Good Debt/Equity ratio (0.05)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

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	-	12%	3%	9%	22%	20%	9%	8%	35%	26%	22%
Earnings YoY growth	-	114%	31%	-15%	104%	1%	31%	-5%	72%	31%	32%
Equity YoY growth	-	14%	3%	11%	19%	18%	19%	16%	24%	28%	23%
FCF YoY growth	-	230%	-12%	16%	53%	-8%	138%	-40%	60%	115%	34%