Emcor (EME) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Specialty contractor providing electrical/mechanical construction and facilities services; $16.99B revenue in FY2025
- • Sold UK operations December 1, 2025; UK previously ~13% of building services revenue, now fully exited
Management Discussion & Analysis
- • Revenue $16.99B, up 16.6% YoY; $1.27B from acquisitions including Miller Electric ($876.8M deal)
- • Operating margin 10.1% vs 9.2%; gross margin 19.3% vs 19.0%; $144.9M UK sale gain added ~85bps to operating margin
Risk Factors
- • CHIPS Act/IRA funding risk — DOGE-style federal budget cuts, government shutdowns, or executive branch fund freezes could cancel projects EMCOR anticipated pursuing
- • Commodity/tariff exposure — fleet of ~14,400 vehicles and reliance on copper/steel vulnerable to tariff-driven price spikes; no guaranteed contract price pass-through
Financial SummaryXBRL
Revenue
$17.0B
Net Income
$1.3B
Gross Margin
19.3%
Operating Margin
10.1%
Net Margin
7.5%
ROE
34.6%
Total Assets
$9.3B
EPS (Diluted)
$28.19
Operating Cash Flow
$1.3B
Source: XBRL data from Emcor FY2025 10-K filing on SEC EDGAR. All figures in USD.
Other Emcor Annual Reports
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