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EMCOR vs Quanta Services: revenue, profit, margins and growth compared

EMCOR brought in $17B of revenue in fiscal 2025, Quanta Services $28.5B in fiscal 2025. Revenue changed by +16.6% at EMCOR and +20.3% at Quanta Services on the year before, so Quanta Services grew faster. EMCOR kept 7.5% of its revenue as net profit, Quanta Services 3.6%. Free cash flow was $1.2B at EMCOR and $1.6B at Quanta Services.

Side by side, latest fiscal year

EMEPWR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17B$28.5B
Revenue growth+16.6%+20.3%
Net income$1.3B$1B
Net margin7.5%3.6%
Free cash flow$1.2B$1.6B
Free cash flow margin7.0%5.7%
Earnings per share (diluted)$28.19$6.80
Cash$1.1B$439.5M
Debtn/a$763.9M
Price to earnings27.095.5
Market value$33.6B$95.6B
Dividend yield0.13%0.06%
Rank by revenue in sector#37 of 451 · Industrials#23 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: $17BPWR FY2018: $11.2BPWR FY2019: $12.1BPWR FY2020: $11.2BPWR FY2021: $13BPWR FY2022: $17.1BPWR FY2023: $20.9BPWR FY2024: $23.7BPWR FY2025: $28.5BFY18FY19FY20FY21FY22FY23FY24FY25
EME $17BPWR $28.5B
Net income
EME FY2018: $283.5MEME FY2019: $325.1MEME FY2020: $132.9MEME FY2021: $383.5MEME FY2022: $406.1MEME FY2023: $633MEME FY2024: $1BEME FY2025: $1.3BPWR FY2018: $293.3MPWR FY2019: $402MPWR FY2020: $445.6MPWR FY2021: $486MPWR FY2022: $491.2MPWR FY2023: $744.7MPWR FY2024: $904.8MPWR FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
EME $1.3BPWR $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%PWR FY2018: 2.6%PWR FY2019: 3.3%PWR FY2020: 4.0%PWR FY2021: 3.7%PWR FY2022: 2.9%PWR FY2023: 3.6%PWR FY2024: 3.8%PWR FY2025: 3.6%FY18FY19FY20FY21FY22FY23FY24FY25
EME 7.5%PWR 3.6%
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%PWR FY2019: +8.4%PWR FY2020: -7.5%PWR FY2021: +15.9%PWR FY2022: +31.5%PWR FY2023: +22.3%PWR FY2024: +13.4%PWR FY2025: +20.3%FY19FY20FY21FY22FY23FY24FY25
EME +16.6%PWR +20.3%
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: $1.2BPWR FY2018: $65.2MPWR FY2019: $264.8MPWR FY2020: $855.9MPWR FY2021: $196.5MPWR FY2022: $702.7MPWR FY2023: $1.1BPWR FY2024: $1.5BPWR FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
EME $1.2BPWR $1.6B

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

Questions about EMCOR and Quanta Services

Which is bigger by revenue, EMCOR or Quanta Services?

Quanta Services is bigger by revenue: $28.5B in fiscal 2025, against $17B for EMCOR in fiscal 2025.

Which keeps more of its revenue as profit, EMCOR or Quanta Services?

EMCOR had a net margin of 7.5% in fiscal 2025; Quanta Services had 3.6% in fiscal 2025.

Which grew revenue faster, EMCOR or Quanta Services?

In their latest fiscal years revenue changed by +16.6% at EMCOR and +20.3% at Quanta Services.

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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