Emcor (EME) stock
Industrials · Construction & Engineering
Emcor (EME) is a Construction & Engineering company in the Industrials sector, headquartered in Norwalk, Connecticut. As of October 23, 2026, EME closed at $647.66, a market capitalization of $28.57 billion, the 328th largest company in the S&P 500. Over the last twelve months it generated $18.60 billion in revenue (+20% year over year) and $1.17 billion in free cash flow. The stock trades at 20.2x trailing earnings and 17.1x forward earnings.
- 1-year total return: -6.8% (dividends reinvested)
- 5-year return: +40.3% a year
- 52-week range: $564.92 – $951.96
- Gross margin 19.4%, operating margin 10.6%
- Dividend yield: 0.25%, 5 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 52nd largest of 83 Industrials stocks in the S&P 500
EME price chart
1Y price change: -7.0% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| EME | -13.8% | +6.1% | -6.8% | +50.2% | +40.3% | +28.2% | +21.8% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1995.
EME key statistics
- Market cap
- $28.6B
- #328 in S&P 500
- P/E (TTM)
- 20.2x
- Forward P/E
- 17.1x
- EPS (TTM)
- $32.12
- Revenue (TTM)
- $18.6B
- +20%
- Free cash flow
- $1.2B
- Gross margin
- 19.4%
- Operating margin
- 10.6%
- Return on equity
- 40.3%
- Dividend yield
- 0.25%
- 52-week range
- $564.92 – $951.96
- Beta
- 1.12
- Price / sales
- 1.5x
- EV / EBITDA
- 14.2x
- Debt / equity
- 0.13x
- Employees
- 44,000
EME report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth19.8%B
- Gross margin19.4%D
- Operating margin10.6%C
- FCF margin6.3%D
- Return on equity40.3%A
- Net debt / EBITDA-0.2xA
- Forward P/E17.1xB
- PEG ratio0.3xA
- Shareholder yield2.3%C
- Share count change / yr-4.0%A
EMCOR financials
Revenue went from $7.6B in fiscal 2016 to $17.0B in fiscal 2025, growing 9.4% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6B | $7.7B | $8.1B | $9.2B | $8.8B | $9.9B | $11.1B | $12.6B | $14.6B | $17.0B |
| Gross profit | $1.0B | $1.1B | $1.2B | $1.4B | $1.4B | $1.5B | $1.6B | $2.1B | $2.8B | $3.3B |
| Operating income | $306.9M | $328.9M | $403.1M | $460.9M | $256.8M | $530.8M | $564.9M | $875.8M | $1.3B | $1.7B |
| Net income | $181.9M | $227.2M | $283.5M | $325.1M | $132.9M | $383.5M | $406.1M | $633.0M | $1.0B | $1.3B |
| EPS (diluted) | $2.97 | $3.82 | $4.85 | $5.75 | $2.40 | $7.06 | $8.10 | $13.31 | $21.52 | $28.19 |
| Free cash flow | $222.7M | $331.4M | $227.5M | $307.3M | $758.4M | $282.6M | $448.6M | $821.3M | $1.3B | $1.2B |
| Buybacks | $94.2M | $93.2M | $216.2M | $0 | $112.6M | $195.5M | $660.6M | $127.7M | $489.8M | $586.3M |
| Dividends paid | $19.5M | $19.0M | $18.6M | $17.9M | $17.7M | $28.2M | $27.2M | $32.7M | $43.4M | $45.0M |
| Diluted shares | 61.2M | 59.6M | 58.4M | 56.5M | 55.4M | 54.3M | 50.1M | 47.6M | 46.8M | 45.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into EME?
A reverse DCF asks what growth the current price requires. With an enterprise value of $28.2B and $1.2B of trailing free cash flow, EMCOR needs to grow free cash flow about 15.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 9.4% a year over the last five years.
P/E ratio history
Current 23.0x vs. median 19.7x (10th–90th percentile 11.0x–31.4x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
EME dividend
- Dividend yield
- 0.25%
- Annual dividend
- $1.60
- Years of increases
- 5
- 5-yr dividend growth
- 25.6%
- per year
- Payout ratio
- 4%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
EME analyst price targets
8 analysts' average 12-month target is $979.13 (+51% vs. $647.66). Targets range from $690.00 to $1,200. 64% rate it a buy.
EME earnings
Next report: October 29, 2026. EMCOR has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $5.2B (+20% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $7.23 | $9.06 | +25.3% |
| Apr 29, 2026 | $5.90 | $6.84 | +15.8% |
| Feb 26, 2026 | $6.68 | $7.19 | +7.6% |
| Oct 30, 2025 | $6.53 | $6.57 | +0.7% |
| Jul 31, 2025 | $5.72 | $6.72 | +17.4% |
| Apr 30, 2025 | $4.63 | $5.41 | +17.0% |
| Feb 26, 2025 | $5.76 | $6.32 | +9.8% |
| Oct 31, 2024 | $4.97 | $5.80 | +16.8% |
Stocks like EME
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 PWR Quanta Services | -1.09% | +28% | $82.2B | 62.6x | Compare |
 FIX Comfort Systems USA | -9.26% | +41% | $40.9B | 25.1x | Compare |
 J Jacobs Solutions | -0.82% | -9% | $17.0B | 48.2x | Compare |
 CAT Caterpillar | -2.42% | +33% | $315.8B | 29.6x | Compare |
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
 RTX RTX | -1.90% | +8% | $257.8B | 31.1x | Compare |
 GEV GE Vernova | -1.50% | +37% | $217.1B | 23.4x | Compare |
 DE Deere & | +0.39% | +39% | $174.2B | 35.9x | Compare |
EME news
- Why EMCOR Group (EME) Is Back In The Spotlight · Oct 24, 2026
- Emcor Group (EME) Dips More Than Broader Market: What You Should Know · Oct 23, 2026
- Sterling vs. EMCOR: Which Infrastructure Giant Has the Edge Now? · Oct 23, 2026
- Polen Focus Growth Strategy Increases EMCOR Group, Inc. (EME) Position on Stronger Business Momentum · Oct 23, 2026
- EMCOR vs. MasTec: Which Infrastructure Stock Offers More Growth? · Oct 23, 2026
EME stock FAQ
What is EME's market cap?
Emcor's market capitalization is $28.57 billion as of October 23, 2026, ranking 328th in the S&P 500.
What is EME's P/E ratio?
EME trades at a trailing price-to-earnings ratio of 20.2x and a forward P/E of 17.1x. Its median P/E over the period we track is 19.7x.
Does EME pay a dividend?
Yes. Emcor pays $1.60 per share a year, a 0.25% yield. It has raised its dividend 5 years in a row. Dividends grew 25.6% a year over the last five years.
How much has EME stock returned?
Including reinvested dividends, EME returned -6.8% over one year, +40.3% a year over five years, +28.2% a year over ten years through October 23, 2026.
Is EME stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Emcor must grow free cash flow about 15% a year for the next decade. Its free cash flow grew 9% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the EME price target?
8 analysts cover EME with an average 12-month price target of $979.12, +51% from the current price. 64% of them rate it a buy.
When does EME report earnings?
Emcor is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Emcor have?
Emcor has about 44,000 full-time employees, or $422,677 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology