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Ameresco vs Matrix Service: revenue, profit, margins and growth compared

Ameresco brought in $1.8B of revenue in fiscal 2024, Matrix Service $873.6M in fiscal 2026. Revenue changed by +28.8% at Ameresco and +13.6% at Matrix Service on the year before, so Ameresco grew faster. Ameresco kept 3.2% of its revenue as net profit, Matrix Service -0.3%. Free cash flow was $113.3M at Ameresco and $1.4M at Matrix Service.

Side by side, latest fiscal year

AMRCMTRX
Fiscal year endedFY2024 (December 31, 2024)FY2026 (June 30, 2026)
Revenue$1.8B$873.6M
Revenue growth+28.8%+13.6%
Net income$56.8M-$2.6M
Net margin3.2%-0.3%
Free cash flow$113.3M$1.4M
Free cash flow margin6.4%0.2%
Earnings per share (diluted)$1.07-$0.09
Cash$108.5M$223M
Debt$149.4Mn/a
Price to earnings20.1n/a
Market value$1.1B$274M
Dividend yieldn/an/a
Rank by revenue in sector#373 of 778 · Consumer discretionary#484 of 778 · Consumer discretionary

Over the years

Revenue
AMRC FY2017: $717.2MAMRC FY2018: $787.1MAMRC FY2019: $866.9MAMRC FY2020: $1BAMRC FY2021: $1.2BAMRC FY2022: $1.8BAMRC FY2023: $1.4BAMRC FY2024: $1.8BMTRX FY2019: $1.4BMTRX FY2020: $1.1BMTRX FY2021: $673.4MMTRX FY2022: $707.8MMTRX FY2023: $795MMTRX FY2024: $728.2MMTRX FY2025: $769.3MMTRX FY2026: $873.6MFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AMRC $1.8BMTRX $873.6M
Net income
AMRC FY2017: $37.5MAMRC FY2018: $38MAMRC FY2019: $44.4MAMRC FY2020: $54.1MAMRC FY2021: $70.5MAMRC FY2022: $94.9MAMRC FY2023: $62.5MAMRC FY2024: $56.8MMTRX FY2019: $28MMTRX FY2020: -$33.1MMTRX FY2021: -$31.2MMTRX FY2022: -$63.9MMTRX FY2023: -$52.4MMTRX FY2024: -$25MMTRX FY2025: -$29.5MMTRX FY2026: -$2.6MFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AMRC $56.8MMTRX -$2.6M
Net margin
AMRC FY2017: 5.2%AMRC FY2018: 4.8%AMRC FY2019: 5.1%AMRC FY2020: 5.2%AMRC FY2021: 5.8%AMRC FY2022: 5.2%AMRC FY2023: 4.5%AMRC FY2024: 3.2%MTRX FY2019: 2.0%MTRX FY2020: -3.0%MTRX FY2021: -4.6%MTRX FY2022: -9.0%MTRX FY2023: -6.6%MTRX FY2024: -3.4%MTRX FY2025: -3.8%MTRX FY2026: -0.3%FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AMRC 3.2%MTRX -0.3%
Revenue growth
AMRC FY2018: +9.8%AMRC FY2019: +10.1%AMRC FY2020: +19.1%AMRC FY2021: +17.8%AMRC FY2022: +50.1%AMRC FY2023: -24.7%AMRC FY2024: +28.8%MTRX FY2020: -22.3%MTRX FY2021: -38.8%MTRX FY2022: +5.1%MTRX FY2023: +12.3%MTRX FY2024: -8.4%MTRX FY2025: +5.6%MTRX FY2026: +13.6%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AMRC +28.8%MTRX +13.6%
Free cash flow
AMRC FY2017: -$138.4MAMRC FY2018: -$57.1MAMRC FY2019: -$203MAMRC FY2020: -$104.8MAMRC FY2021: -$177.2MAMRC FY2022: -$343.6MAMRC FY2023: -$75.7MAMRC FY2024: $113.3MMTRX FY2019: $21.8MMTRX FY2020: $25.5MMTRX FY2021: -$7.3MMTRX FY2022: -$57.5MMTRX FY2023: $1.2MMTRX FY2024: $65.6MMTRX FY2025: $109.8MMTRX FY2026: $1.4MFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AMRC $113.3MMTRX $1.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ameresco and Matrix Service

Which is bigger by revenue, Ameresco or Matrix Service?

Ameresco is bigger by revenue: $1.8B in fiscal 2024, against $873.6M for Matrix Service in fiscal 2026.

Which keeps more of its revenue as profit, Ameresco or Matrix Service?

Ameresco had a net margin of 3.2% in fiscal 2024; Matrix Service had -0.3% in fiscal 2026.

Which grew revenue faster, Ameresco or Matrix Service?

In their latest fiscal years revenue changed by +28.8% at Ameresco and +13.6% at Matrix Service.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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