Short answer
IES Holdings, Inc. (IESC) filed its fiscal 2025 10-K annual report with the SEC on Nov 21, 2025. It reported revenue of $3.4B (+16.9% year over year) and net income of $306M.
- Top risk flagged: Commodity price volatility in copper, aluminum, steel, electrical components, fuel, plastics impacting fixed-price contracts
FY2025 key financial metrics · XBRL
- Revenue
- $3.4B
- +16.9% YoY
- Net income
- $306M
- +39.6% YoY
- Operating margin
- 11.4%
- +0.9 pp YoY
- Gross margin
- 25.5%
- +1.3 pp YoY
- EPS (diluted)
- $15.02
- +51.9% YoY
- ROE
- 34.6%
- −1.2 pp YoY
- Operating cash flow
- $286M
- +22.1% YoY
Source: XBRL data from the IES Holdings, Inc. (IESC) FY2025 10-K on SEC EDGAR. USD.
IES Holdings, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Integrated electrical contracting and engineering services across Communications, Residential, Infrastructure Solutions, and Commercial & Industrial segments
- Emphasis on Communications segment growth with 46.9% revenue increase driven by data center, high-tech manufacturing, and e-commerce customers
- Strategic focus shift: Scaling Infrastructure Solutions capacity via acquisitions and investments, e.g., full-year impact of Greiner Industries acquisition
- Quantitative highlight: Consolidated revenues up 16.9% YoY to $3.37B with gross margin expansion to 25.5% from 24.2% in prior year
- Noteworthy fact: Record backlog across segments entering fiscal 2026, constrained by labor availability and capacity despite strong demand
Management Discussion & Analysis
- No profitability or margin % figures provided in the text
- Segment operating details limited to employee count and office numbers; no performance or financial data given
- Cash flow, buybacks, dividends, and capex details not included in this section
- Management highlights focus on human capital, safety, climate risk monitoring, and geographic diversity; no explicit future financial guidance or key risk quantified
Risk Factors
- Commodity price volatility in copper, aluminum, steel, electrical components, fuel, plastics impacting fixed-price contracts
- Marketable securities investment fair value $104.6 million, 10% market change affects pre-tax income by $10.5 million
- Floating rate debt tied to SOFR exposes interest expense to increases, no interest rate hedging in place
- No borrowings outstanding under revolving credit facility as of September 30, 2025, limiting immediate leverage risk
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