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EMCOR vs Comfort Systems USA: revenue, profit, margins and growth compared

EMCOR brought in $17B of revenue in fiscal 2025, Comfort Systems USA $9.1B in fiscal 2025. Revenue changed by +16.6% at EMCOR and +29.5% at Comfort Systems USA on the year before, so Comfort Systems USA grew faster. EMCOR kept 7.5% of its revenue as net profit, Comfort Systems USA 11.2%. Free cash flow was $1.2B at EMCOR and $1B at Comfort Systems USA.

Side by side, latest fiscal year

EMEFIX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17B$9.1B
Revenue growth+16.6%+29.5%
Net income$1.3B$1B
Net margin7.5%11.2%
Free cash flow$1.2B$1B
Free cash flow margin7.0%11.3%
Earnings per share (diluted)$28.19$28.88
Cash$1.1B$981.9M
Debtn/a$145.2M
Price to earnings27.057.4
Market value$33.6B$58.4B
Dividend yield0.13%0.12%
Rank by revenue in sector#37 of 451 · Industrials#70 of 451 · Industrials

Over the years

Revenue
EME FY2018: $8.1BEME FY2019: $9.2BEME FY2020: $8.8BEME FY2021: $9.9BEME FY2022: $11.1BEME FY2023: $12.6BEME FY2024: $14.6BEME FY2025: $17BFIX FY2018: $2.2BFIX FY2019: $2.6BFIX FY2020: $2.9BFIX FY2021: $3.1BFIX FY2022: $4.1BFIX FY2023: $5.2BFIX FY2024: $7BFIX FY2025: $9.1BFY18FY19FY20FY21FY22FY23FY24FY25
EME $17BFIX $9.1B
Net income
EME FY2018: $283.5MEME FY2019: $325.1MEME FY2020: $132.9MEME FY2021: $383.5MEME FY2022: $406.1MEME FY2023: $633MEME FY2024: $1BEME FY2025: $1.3BFIX FY2018: $112.9MFIX FY2019: $114.3MFIX FY2020: $150.1MFIX FY2021: $143.3MFIX FY2022: $245.9MFIX FY2023: $323.4MFIX FY2024: $522.4MFIX FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
EME $1.3BFIX $1B
Net margin
EME FY2018: 3.5%EME FY2019: 3.5%EME FY2020: 1.5%EME FY2021: 3.9%EME FY2022: 3.7%EME FY2023: 5.0%EME FY2024: 6.9%EME FY2025: 7.5%FIX FY2018: 5.2%FIX FY2019: 4.4%FIX FY2020: 5.3%FIX FY2021: 4.7%FIX FY2022: 5.9%FIX FY2023: 6.2%FIX FY2024: 7.4%FIX FY2025: 11.2%FY18FY19FY20FY21FY22FY23FY24FY25
EME 7.5%FIX 11.2%
Revenue growth
EME FY2019: +12.8%EME FY2020: -4.1%EME FY2021: +12.6%EME FY2022: +11.8%EME FY2023: +13.6%EME FY2024: +15.8%EME FY2025: +16.6%FIX FY2019: +19.8%FIX FY2020: +9.2%FIX FY2021: +7.6%FIX FY2022: +34.7%FIX FY2023: +25.8%FIX FY2024: +35.0%FIX FY2025: +29.5%FY19FY20FY21FY22FY23FY24FY25
EME +16.6%FIX +29.5%
Free cash flow
EME FY2018: $227.5MEME FY2019: $307.3MEME FY2020: $758.4MEME FY2021: $282.6MEME FY2022: $448.6MEME FY2023: $821.3MEME FY2024: $1.3BEME FY2025: $1.2BFIX FY2018: $119.9MFIX FY2019: $110.3MFIX FY2020: $262.4MFIX FY2021: $157.8MFIX FY2022: $253.2MFIX FY2023: $544.7MFIX FY2024: $738MFIX FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
EME $1.2BFIX $1B

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

Questions about EMCOR and Comfort Systems USA

Which is bigger by revenue, EMCOR or Comfort Systems USA?

EMCOR is bigger by revenue: $17B in fiscal 2025, against $9.1B for Comfort Systems USA in fiscal 2025.

Which keeps more of its revenue as profit, EMCOR or Comfort Systems USA?

EMCOR had a net margin of 7.5% in fiscal 2025; Comfort Systems USA had 11.2% in fiscal 2025.

Which grew revenue faster, EMCOR or Comfort Systems USA?

In their latest fiscal years revenue changed by +16.6% at EMCOR and +29.5% at Comfort Systems USA.

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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