Short answer
CECO ENVIRONMENTAL CORP (CECO) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $774M (+38.8% year over year) and net income of $50M.
- Top risk flagged: Asbestos-containing product litigation linked to former Dean Pump division risks financial impact, despite divestiture and vigorous legal defense by insurers
FY2025 key financial metrics · XBRL
- Revenue
- $774M
- +38.8% YoY
- Net income
- $50M
- +286.3% YoY
- Operating margin
- 13.7%
- +7.3 pp YoY
- Gross margin
- 34.8%
- −0.4 pp YoY
- EPS (diluted)
- $1.37
- +280.6% YoY
- ROE
- 15.8%
- +10.5 pp YoY
- Operating cash flow
- $6M
- −76.4% YoY
Source: XBRL data from the CECO ENVIRONMENTAL CORP (CECO) FY2025 10-K on SEC EDGAR. USD.
CECO ENVIRONMENTAL CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Environmental technology solutions focused on industrial air pollution control
- New strategic emphasis: Agreement and Plan of Merger with Thermon dated February 23, 2026
- Equity compensation plans transitioned to 2021 Equity and Incentive Compensation Plan with 1,574,197 outstanding options at $21.32 exercise price
- Credit facility amended via Fourth Amended and Restated Credit Agreement dated January 30, 2026 with Bank of America as agent
- Inducement stock awards granted to CEO Todd Gleason totaling approx. 1.3 million options including premium-priced options at double market value
Risk Factors
- Asbestos-containing product litigation linked to former Dean Pump division risks financial impact, despite divestiture and vigorous legal defense by insurers
- 34% revenue exposure to currency fluctuations from foreign sales, potentially reducing profits or increasing costs due to exchange rate movements
- Dependence on third-party suppliers exposes company to risks from supplier insolvency, operational failures, or disruptions including cybersecurity incidents and natural disasters
- Competition risk from advancing technologies including data analytics, artificial intelligence, and machine learning affecting product performance and customer requirements
- Goodwill and intangible assets $297.9M (33.3% of total assets) at risk of impairment charges due to subjective estimates of future revenue and economic conditions
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