Comfort Systems USA (FIX) Q3 2025 10-Q Quarterly Report
Comfort Systems USA (FIX) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 23, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Comfort Systems USA Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $2.45B Q3 2025, up 35.2% YoY ($638.6M); Mechanical up 25.8% ($371.8M), Electrical up 71.4% ($266.8M)
- • Gross margin 24.8% Q3 2025 vs 21.1% Q3 2024; Operating margin 15.5% vs 11.2% YoY
- • Electrical segment best performer: revenue +71.4% YoY to $640.5M; Mechanical segment weakest by growth: revenue +25.8% YoY to $1.81B
- • Operating cash flow $717.8M YTD 2025, up $79.2M YoY; Free cash flow $632.2M YTD; Capital expenditures $88.8M YTD
- • Backlog $9.38B as of Sep 30, 2025, up 65.1% YoY; management expects continued strong demand, especially manufacturing and technology sectors despite labor cost and supply chain pressures through 2025 and 2026
Risk Factors
- • No new or materially changed risk factors since 2024 10-K reported
- • Regulatory/legal risk: potential unidentified future risks could materially impact business or financial condition
- • Operational risk: unknown or presently immaterial risks may adversely affect future results
- • Financial risk: no updates on liquidity, debt, or currency exposure since last annual filing
Comfort Systems USA Q3 2025 Quarterly FinancialsXBRL
Revenue
$2.5B
▲ +35.2% YoY▲ +12.8% QoQ
Net Income
$292M
▲ +99.4% YoY▲ +26.3% QoQ
Gross Margin
24.8%
▲ +374bp YoY▲ +134bp QoQ
Operating Margin
15.5%
▲ +426bp YoY▲ +166bp QoQ
Net Margin
11.9%
▲ +383bp YoY▲ +128bp QoQ
ROE
13.1%
Total Assets
$5.8B
EPS (Diluted)
$8.24
▲ +101.5% YoY▲ +26.2% QoQ
Operating Cash Flow
$553M
▲ +83.1% YoY▲ +119.1% QoQ
Source: XBRL data from Comfort Systems USA Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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