CECO ENVIRONMENTAL CORP (CECO) FY2025 10-K Annual Report
CECO ENVIRONMENTAL CORP (CECO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CECO ENVIRONMENTAL CORP FY2025 10-K Analysis
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
CECO ENVIRONMENTAL CORP FY2025 Key Financial MetricsXBRL
Revenue
$774M
▲ +38.8% YoY
Net Income
$50M
▲ +286.3% YoY
Gross Margin
34.8%
▼ -39bp YoY
Operating Margin
13.7%
▲ +732bp YoY
Net Margin
6.5%
▲ +414bp YoY
ROE
15.8%
▲ +1053bp YoY
Total Assets
$894M
▲ +17.6% YoY
EPS (Diluted)
$1.37
▲ +280.6% YoY
Operating Cash Flow
$6M
▼ -76.4% YoY
Source: XBRL data from CECO ENVIRONMENTAL CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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