EMCOR Group, Inc. (EME) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-53.9%

$316.08

vs $686.29 price

Levered DCF

$548.99

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.7×	21×	16.11×	18.22×	17.97×	37.95×	14.93×	12.23×
P/B	7.5×	7.2×	4.13×	3.75×	3.06×	2.46×	2.36×	1.99×
P/S	1.62×	1.45×	0.81×	0.67×	0.7×	0.57×	0.53×	0.43×
EV / EBITDA	15.25×	13.31×	9.67×	10.98×	10.2×	12.72×	9.09×	6.95×
Gross margin	19.3%	19.0%	16.6%	14.5%	15.2%	15.9%	14.8%	14.8%
Operating margin	10.1%	9.2%	7.0%	5.1%	5.4%	2.9%	5.0%	5.0%
Net margin	7.5%	6.9%	5.0%	3.7%	3.9%	1.5%	3.5%	3.5%
Current ratio	1.22×	1.3×	1.26×	1.26×	1.44×	1.44×	1.37×	1.38×
Debt / equity	0.13×	0.12×	0.14×	0.27×	0.24×	0.26×	0.28×	0.17×
Interest coverage	0×	355.88×	50.92×	42.8×	87.43×	28.51×	33.35×	29.76×
Dividend yield	0.2%	0.2%	0.3%	0.4%	0.4%	0.4%	0.4%	0.5%
Payout ratio	3.5%	4.3%	5.2%	6.7%	7.3%	13.3%	5.5%	6.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	34.6%	34.3%	25.6%	20.6%	17.0%	6.5%	15.8%	16.3%
Return on invested capital	28.0%	27.0%	20.0%	14.4%	12.2%	4.6%	11.2%	12.3%
Return on assets	13.7%	13.1%	9.6%	7.4%	7.0%	2.6%	6.7%	6.9%
Free cash flow yield	4.3%	6.3%	8.0%	6.1%	4.1%	15.0%	6.3%	6.6%
Earnings yield	4.6%	4.8%	6.2%	5.5%	5.6%	2.6%	6.7%	8.2%
Enterprise value	$26.9B	$20.2B	$9.8B	$7.5B	$6.6B	$4.7B	$5.1B	$3.4B
Net debt / EBITDA	-0.36×	-0.65×	-0.44×	0.12×	-0.43×	-1×	0.38×	-0.14×
Cash conversion cycle (days)	69	71	72	64	60	56	59	55