EMCOR (EME)
Market Price (11/4/2026): $705.0 | Market Cap: $30.9 BilInvestor Relations Sector: Industrials | Industry: Construction & Engineering
EMCOR (EME)
Market Price (11/4/2026): $705.0Market Cap: $30.9 BilSector: IndustrialsIndustry: Construction & Engineering
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% Stock buyback supportStock Buyback 3Y Total is 1.6 Bil Low stock price volatilityVol 12M is 42% Megatrend and thematic driversMegatrends include Artificial Intelligence, Renewable Energy Transition, and Smart Buildings & Proptech. Themes include Data Centers & Infrastructure, Show more. | Key risksEME key risks include [1] skilled labor scarcity and wage pressures constraining project execution and profit margins, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% |
| Stock buyback supportStock Buyback 3Y Total is 1.6 Bil |
| Low stock price volatilityVol 12M is 42% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Renewable Energy Transition, and Smart Buildings & Proptech. Themes include Data Centers & Infrastructure, Show more. |
| Key risksEME key risks include [1] skilled labor scarcity and wage pressures constraining project execution and profit margins, Show more. |
Qualitative Assessment
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Updated on 11/1/2026
EMCOR (EME) stock has lost about 10% since 7/31/2026 because of the following key factors:
1. Upward price target revisions from analysts were tempered by subsequent downgrades and reductions.
In late July 2026, Oppenheimer notably increased its price target for EMCOR Group from $1,100.00 to $1,200.00, assigning an "outperform" rating. However, this optimism was later countered by several analyst actions. On October 19, 2026, Zacks Research downgraded EMCOR Group from a "strong-buy" to a "hold" rating. Additionally, on November 2, 2026, Cantor Fitzgerald reduced its price target from $1,047.00 to $920.00, and Oppenheimer further lowered its target to $1,000 from $1,200 on the same day. These downward revisions in price targets, despite overall positive ratings, likely contributed to negative sentiment and selling pressure on the stock.
2. The broader U.S. construction market faced headwinds, impacting investor sentiment.
Despite EMCOR Group's strong performance in specialized sectors, the overall U.S. construction spending forecast for 2026 indicated a decline of just over 1% following the Census Bureau's July 1 benchmark revision. A significant factor in this overall negative trend was a projected 17.4% drop in manufacturing construction to $178 billion, which was identified as the "single biggest reason the overall number is negative." While EMCOR benefits from high-growth areas like data center construction, which is up 21.4% to $60 billion, the broader industry slowdown and concerns about delivery capacity, labor availability, and material procurement likely led investors to re-evaluate valuations within the construction and engineering sector.
Show more
EMCOR (EME) stock has lost about 10% since 7/31/2026 because of the following key factors:
1. Upward price target revisions from analysts were tempered by subsequent downgrades and reductions.
In late July 2026, Oppenheimer notably increased its price target for EMCOR Group from $1,100.00 to $1,200.00, assigning an "outperform" rating. However, this optimism was later countered by several analyst actions. On October 19, 2026, Zacks Research downgraded EMCOR Group from a "strong-buy" to a "hold" rating. Additionally, on November 2, 2026, Cantor Fitzgerald reduced its price target from $1,047.00 to $920.00, and Oppenheimer further lowered its target to $1,000 from $1,200 on the same day. These downward revisions in price targets, despite overall positive ratings, likely contributed to negative sentiment and selling pressure on the stock.
2. The broader U.S. construction market faced headwinds, impacting investor sentiment.
Despite EMCOR Group's strong performance in specialized sectors, the overall U.S. construction spending forecast for 2026 indicated a decline of just over 1% following the Census Bureau's July 1 benchmark revision. A significant factor in this overall negative trend was a projected 17.4% drop in manufacturing construction to $178 billion, which was identified as the "single biggest reason the overall number is negative." While EMCOR benefits from high-growth areas like data center construction, which is up 21.4% to $60 billion, the broader industry slowdown and concerns about delivery capacity, labor availability, and material procurement likely led investors to re-evaluate valuations within the construction and engineering sector.
Show more
Updated on 11/1/2026
EMCOR (EME) stock has lost about 10% since 7/31/2026 because of the following key factors:
1. Upward price target revisions from analysts were tempered by subsequent downgrades and reductions.
In late July 2026, Oppenheimer notably increased its price target for EMCOR Group from $1,100.00 to $1,200.00, assigning an "outperform" rating. However, this optimism was later countered by several analyst actions. On October 19, 2026, Zacks Research downgraded EMCOR Group from a "strong-buy" to a "hold" rating. Additionally, on November 2, 2026, Cantor Fitzgerald reduced its price target from $1,047.00 to $920.00, and Oppenheimer further lowered its target to $1,000 from $1,200 on the same day. These downward revisions in price targets, despite overall positive ratings, likely contributed to negative sentiment and selling pressure on the stock.
2. The broader U.S. construction market faced headwinds, impacting investor sentiment.
Despite EMCOR Group's strong performance in specialized sectors, the overall U.S. construction spending forecast for 2026 indicated a decline of just over 1% following the Census Bureau's July 1 benchmark revision. A significant factor in this overall negative trend was a projected 17.4% drop in manufacturing construction to $178 billion, which was identified as the "single biggest reason the overall number is negative." While EMCOR benefits from high-growth areas like data center construction, which is up 21.4% to $60 billion, the broader industry slowdown and concerns about delivery capacity, labor availability, and material procurement likely led investors to re-evaluate valuations within the construction and engineering sector.
3. Record Q3 2026 earnings, despite exceeding expectations, were likely already priced into the stock, leading to a "sell the news" reaction.
On October 29, 2026, EMCOR Group announced record fiscal Q3 2026 results, with revenues of $5.54 billion, surpassing estimates of $5.19 billion, and non-GAAP diluted earnings per share of $9.60, beating the consensus of $8.37. The company also raised its full-year 2026 guidance for revenue and EPS and reported a record $18.57 billion in Remaining Performance Obligations. However, despite these robust financial achievements, the shares saw only a modest 0.51% rise in after-hours trading. This muted market reaction suggests that investors had already anticipated and priced in the strong performance, leading to a "sell the news" event or profit-taking following the official announcement, rather than a significant upward movement.
Show less
EMCOR (EME) stock has lost about 10% since 7/31/2026 because of the following key factors:
1. Upward price target revisions from analysts were tempered by subsequent downgrades and reductions.
In late July 2026, Oppenheimer notably increased its price target for EMCOR Group from $1,100.00 to $1,200.00, assigning an "outperform" rating. However, this optimism was later countered by several analyst actions. On October 19, 2026, Zacks Research downgraded EMCOR Group from a "strong-buy" to a "hold" rating. Additionally, on November 2, 2026, Cantor Fitzgerald reduced its price target from $1,047.00 to $920.00, and Oppenheimer further lowered its target to $1,000 from $1,200 on the same day. These downward revisions in price targets, despite overall positive ratings, likely contributed to negative sentiment and selling pressure on the stock.
2. The broader U.S. construction market faced headwinds, impacting investor sentiment.
Despite EMCOR Group's strong performance in specialized sectors, the overall U.S. construction spending forecast for 2026 indicated a decline of just over 1% following the Census Bureau's July 1 benchmark revision. A significant factor in this overall negative trend was a projected 17.4% drop in manufacturing construction to $178 billion, which was identified as the "single biggest reason the overall number is negative." While EMCOR benefits from high-growth areas like data center construction, which is up 21.4% to $60 billion, the broader industry slowdown and concerns about delivery capacity, labor availability, and material procurement likely led investors to re-evaluate valuations within the construction and engineering sector.
3. Record Q3 2026 earnings, despite exceeding expectations, were likely already priced into the stock, leading to a "sell the news" reaction.
On October 29, 2026, EMCOR Group announced record fiscal Q3 2026 results, with revenues of $5.54 billion, surpassing estimates of $5.19 billion, and non-GAAP diluted earnings per share of $9.60, beating the consensus of $8.37. The company also raised its full-year 2026 guidance for revenue and EPS and reported a record $18.57 billion in Remaining Performance Obligations. However, despite these robust financial achievements, the shares saw only a modest 0.51% rise in after-hours trading. This muted market reaction suggests that investors had already anticipated and priced in the strong performance, leading to a "sell the news" event or profit-taking following the official announcement, rather than a significant upward movement.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -11.2% change in EME stock from 7/31/2026 to 11/3/2026 was primarily driven by a -17.8% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 797.00 | 707.43 | -11.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,598 | 19,838 | 6.7% |
| Net Income Margin (%) | 7.7% | 7.8% | 0.6% |
| P/E Multiple | 24.6 | 20.2 | -17.8% |
| Shares Outstanding (Mil) | 44 | 44 | 0.7% |
| Cumulative Contribution | -11.2% |
Market Drivers
7/31/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| EME | -11.2% | |
| Market (SPY) | 1.0% | 41.3% |
| Sector (XLI) | -4.7% | 68.0% |
Fundamental Drivers
The -20.6% change in EME stock from 4/30/2026 to 11/3/2026 was primarily driven by a -31.9% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 890.73 | 707.43 | -20.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,747 | 19,838 | 11.8% |
| Net Income Margin (%) | 7.5% | 7.8% | 3.2% |
| P/E Multiple | 29.7 | 20.2 | -31.9% |
| Shares Outstanding (Mil) | 45 | 44 | 1.0% |
| Cumulative Contribution | -20.6% |
Market Drivers
4/30/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| EME | -20.6% | |
| Market (SPY) | 5.2% | 51.1% |
| Sector (XLI) | -1.6% | 59.6% |
Fundamental Drivers
The 4.9% change in EME stock from 10/31/2025 to 11/3/2026 was primarily driven by a 22.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 674.33 | 707.43 | 4.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,243 | 19,838 | 22.1% |
| Net Income Margin (%) | 7.0% | 7.8% | 11.8% |
| P/E Multiple | 26.7 | 20.2 | -24.3% |
| Shares Outstanding (Mil) | 45 | 44 | 1.5% |
| Cumulative Contribution | 4.9% |
Market Drivers
10/31/2025 to 11/3/2026| Return | Correlation | |
|---|---|---|
| EME | 4.9% | |
| Market (SPY) | 11.5% | 54.2% |
| Sector (XLI) | 11.4% | 62.4% |
Fundamental Drivers
The 244.7% change in EME stock from 10/31/2023 to 11/3/2026 was primarily driven by a 71.8% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 205.24 | 707.43 | 244.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,093 | 19,838 | 64.0% |
| Net Income Margin (%) | 4.5% | 7.8% | 71.8% |
| P/E Multiple | 17.7 | 20.2 | 14.4% |
| Shares Outstanding (Mil) | 47 | 44 | 6.9% |
| Cumulative Contribution | 244.7% |
Market Drivers
10/31/2023 to 11/3/2026| Return | Correlation | |
|---|---|---|
| EME | 244.7% | |
| Market (SPY) | 86.6% | 55.1% |
| Sector (XLI) | 81.1% | 59.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EME Return | 40% | 17% | 46% | 111% | 35% | 16% | 689% |
| Peers Return | 54% | 6% | 28% | 55% | 41% | 15% | 427% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| EME Win Rate | 50% | 33% | 67% | 83% | 50% | 64% | |
| Peers Win Rate | 67% | 52% | 62% | 68% | 65% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| EME Max Drawdown | -13% | -26% | -15% | -15% | -36% | -31% | |
| Peers Max Drawdown | -18% | -26% | -27% | -15% | -33% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PWR, FIX, MTZ, ACM, J. See EME Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/3/2026 (YTD)
How Low Can It Go
| Event | EME | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.3% | -18.8% |
| % Gain to Breakeven | 27.1% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.3% | -24.5% |
| % Gain to Breakeven | 32.0% | 32.4% |
| Time to Breakeven | 122 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.3% | -33.7% |
| % Gain to Breakeven | 82.9% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.1% | -19.2% |
| % Gain to Breakeven | 30.0% | 23.8% |
| Time to Breakeven | 98 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.6% | -12.2% |
| % Gain to Breakeven | 13.1% | 13.9% |
| Time to Breakeven | 43 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -35.2% | -17.9% |
| % Gain to Breakeven | 54.4% | 21.8% |
| Time to Breakeven | 120 days | 123 days |
In The Past
EMCOR's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% gain to breakeven.
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Asset Allocation
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| Event | EME | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.3% | -18.8% |
| % Gain to Breakeven | 27.1% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.3% | -24.5% |
| % Gain to Breakeven | 32.0% | 32.4% |
| Time to Breakeven | 122 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.3% | -33.7% |
| % Gain to Breakeven | 82.9% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.1% | -19.2% |
| % Gain to Breakeven | 30.0% | 23.8% |
| Time to Breakeven | 98 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -35.2% | -17.9% |
| % Gain to Breakeven | 54.4% | 21.8% |
| Time to Breakeven | 120 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.8% | -15.4% |
| % Gain to Breakeven | 28.0% | 18.2% |
| Time to Breakeven | 157 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -56.5% | -53.4% |
| % Gain to Breakeven | 129.9% | 114.4% |
| Time to Breakeven | 301 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -25.8% | -8.6% |
| % Gain to Breakeven | 34.8% | 9.5% |
| Time to Breakeven | 1968 days | 47 days |
In The Past
EMCOR's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About EMCOR (EME)
EMCOR Group, Inc. (EME) is a prominent specialized contractor providing comprehensive mechanical and electrical construction, and facilities services. Operating primarily across the United States and the United Kingdom, the company supports a wide array of clients with essential infrastructure and operational solutions.
The company's core services encompass the entire lifecycle of critical building and industrial systems. This includes the design, integration, installation, and ongoing maintenance of electrical power transmission, distribution, and generation systems, as well as heating, ventilation, air conditioning (HVAC), plumbing, and fire protection systems. EMCOR also specializes in low-voltage systems such as fire alarms, security, voice and data communications, and process instrumentation for various industrial applications. Furthermore, they provide energy solutions, clean-room process ventilation, and heavy industrial services like crane and rigging, millwright, and steel fabrication.
In addition to construction, EMCOR delivers extensive facilities management and building services, which include site-based operations and maintenance, technical consulting, infrastructure projects, and energy system program management. Their diverse customer base spans commercial and government sectors, utilities, military bases, and key industrial markets, including the oil, gas, petrochemical, refining, chemical processing, and food processing industries.
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Here are a few brief analogies for EMCOR (EME):
They're like a highly technical and comprehensive ABM Industries, providing everything from specialized electrical and mechanical construction to ongoing facility management for major commercial and industrial sites.
Imagine them as a super-sized, service-focused Johnson Controls, handling the design, installation, and maintenance of all critical electrical, mechanical, and energy systems within large buildings and industrial facilities.
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- Electrical Infrastructure & Systems: Provides design, installation, and maintenance for electrical power, lighting, low-voltage, data, and communication systems.
- Mechanical & HVAC Systems: Offers services for heating, ventilation, air conditioning, refrigeration, plumbing, piping, and fire protection systems.
- Industrial & Fabrication Services: Delivers specialized services including crane and rigging, millwright, steel fabrication, and services for the oil, gas, and petrochemical industries.
- Facilities Management & Maintenance: Offers comprehensive operations, maintenance, and support services for commercial, government, and industrial facilities.
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EMCOR Group, Inc. (EME) primarily provides its electrical and mechanical construction, and facilities services to other companies and governmental entities. The provided description outlines the types of industries and organizations it serves rather than naming specific customer companies. Based on this, EMCOR's major customers can be categorized as follows:
- Commercial and Governmental Clients: This category includes entities requiring site-based operations and maintenance, facility management, building services, and military base operations support. This encompasses commercial properties, various government facilities, and military installations.
- Industrial Sector: EMCOR serves a wide array of industrial clients, particularly within the refining, chemical processing, food processing, oil, gas, and petrochemical industries. Services to this sector include process instrumentation, industrial services, and construction/maintenance for complex industrial plants.
- Utilities: This category encompasses electrical utilities and industrial plants that require services related to electrical power transmission, distribution, and generation systems, as well as outage services and central plant heating and cooling systems.
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Anthony J. Guzzi, Chairman, President and Chief Executive Officer
Mr. Guzzi joined EMCOR in October 2004, becoming Chief Executive Officer in January 2011 and Chairman in June 2018. Prior to his tenure at EMCOR, he served as President of the North American Distribution & Aftermarket Division of Carrier Corporation from 1997 to 2004. He was also an engagement manager at McKinsey & Co. from 1993 to 1996. Mr. Guzzi served in the U.S. Army as a Light Infantry Captain from 1986 to 1991 and is Ranger qualified. He is also a co-founder of the Johnny Mac Soldiers Fund.
Jason R. Nalbandian, Senior Vice President, Chief Financial Officer, and Chief Accounting Officer
Mr. Nalbandian was appointed Senior Vice President, Chief Financial Officer, and Chief Accounting Officer effective April 1, 2024. He joined EMCOR in May 2014. Previously, he held positions as Chief Accounting Officer since January 2022, Senior Vice President since December 2022, Controller from 2019 to 2022, Assistant Controller from 2017 to 2019, and Director of Accounting and Analysis from 2014 to 2017. Before joining EMCOR, Mr. Nalbandian worked in the assurance practice of Ernst & Young LLP.
Maxine Lum Mauricio, Chief Administrative Officer, Executive Vice President, General Counsel and Corporate Secretary
Ms. Mauricio serves as Chief Administrative Officer, Executive Vice President, General Counsel and Corporate Secretary. She has served as General Counsel and Corporate Secretary at EMCOR Group Inc. since January 4, 2016.
Michael P. Bordes, President and CEO, EMCOR Building Services
Mr. Bordes is the President and Chief Executive Officer of EMCOR Building Services.
Daniel Fitzgibbons, President and CEO, EMCOR Electrical Construction Services
Mr. Fitzgibbons serves as the President and Chief Executive Officer of EMCOR Electrical Construction Services.
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The key risks to EMCOR Group, Inc.'s (EME) business include its sensitivity to economic fluctuations, challenges related to labor availability and cost, and the increasing complexity and execution demands of its projects.
- Economic Cyclicality and Market Sensitivity to Economic Fluctuations: EMCOR's operations are highly sensitive to changes in the broader economy, which can lead to volatility in demand for its services. Economic downturns or uncertainty can result in project delays or cancellations, directly impacting the company's revenue streams.
- Labor Challenges: The company faces risks associated with a tight labor market, including a scarcity of skilled labor and persistent wage pressures. These factors can increase operational costs and potentially squeeze profit margins.
- Project Complexity and Execution Challenges: While EMCOR is experiencing growth in large, complex projects, particularly in areas like data center construction, these projects introduce inherent risks. These can include challenges related to contract structure changes and the intricacies of execution, which could impact margins and overall project success.
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EMCOR Group, Inc. (symbol: EME) operates within several significant addressable markets across its electrical and mechanical construction and facilities services offerings, primarily in the United States and the United Kingdom. The market sizes for its main products and services are detailed below:
United States Market Sizes:
- Electrical Construction and Services: The U.S. electrical contractors market was valued at approximately USD 237.59 billion in 2023 and is projected to reach USD 256.65 billion by 2029. Another estimate places the U.S. electrical services market at USD 163.9 billion in 2024, with a projection to reach USD 294.6 billion by 2034. The electrical construction segment alone was valued at over USD 115 billion in 2024.
- HVAC Services: The U.S. HVAC services market is estimated to generate USD 26.9 billion in revenue in 2024, with a forecast to grow to USD 32.9 billion by 2030.
- Plumbing Services: The U.S. plumbing market is valued at approximately USD 134 billion. Another source states the market size for plumbers in the U.S. is projected to be USD 191.4 billion in 2026.
- Fire Protection Systems: The U.S. fire protection system market size was estimated at USD 25.94 billion in 2024 and is projected to reach USD 32.26 billion by 2030.
- Facility Management: The U.S. facility management market size was valued at around USD 315.78 billion in 2024 and is expected to reach USD 442.89 billion by 2030. Hard services, a key offering by EMCOR, held 58.45% of the United States facility management market share in 2025.
- Mechanical, Electrical, and Plumbing (MEP) Services: The North America mechanical, electrical, and plumbing service market was estimated at USD 31,348.1 million (approximately USD 31.3 billion) in 2023 and is projected to reach USD 51,411.4 million (approximately USD 51.4 billion) by 2030.
United Kingdom Market Sizes:
- Electrical Installation/Contracting: The electrical installation industry in the United Kingdom is valued at £21.8 billion (approximately USD 27.7 billion) in 2026. The market size for electricians in the UK was £35.9 billion (approximately USD 45.6 billion) in 2024.
- Mechanical & Electrical (M&E) Contracting: The UK M&E contracting market is valued at approximately £20 billion (approximately USD 25.4 billion). It is expected to reach almost £21 billion (approximately USD 26.7 billion) in the next year (from May 2024).
- Facility Management: The United Kingdom facility management market is valued at USD 83.29 billion in 2026 and is forecast to reach USD 95.24 billion by 2031. Hard services, which include mechanical and electrical maintenance, held 60.12% of the UK facility management market share in 2025.
Global Market Sizes (relevant for aspects of EMCOR's operations):
- Electrical Construction: The global electrical construction market size was valued at US$ 450.5 billion in 2026 and is projected to reach US$ 712.8 billion by 2033.
- Fire Protection Systems: The global fire protection systems market was estimated at USD 81.4 billion in 2025 and is expected to grow to USD 160.9 billion by 2035.
- Low Voltage Products and Systems: The global Low Voltage Product and System Market is projected to reach a valuation of USD 158.9 billion in 2023, anticipated to reach USD 278.7 billion by 2032.
- Smart Building Market: This market, which relates to EMCOR's energy solutions and building systems, is projected to expand from USD 143.0 billion in 2025 to USD 548.5 billion by 2032 globally.
- Facility Management: The global facility management market size was accounted for USD 1.46 trillion in 2024 and is expected to reach around USD 2.38 trillion by 2034.
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Expected Drivers of Future Revenue Growth for EMCOR (EME)
EMCOR Group, Inc. (EME) is poised for future revenue growth over the next 2-3 years, driven by several key factors:
- Demand from Data Centers and AI Infrastructure: EMCOR anticipates significant revenue growth from the robust demand for data centers and artificial intelligence (AI) infrastructure. This is a frequently cited driver, particularly impacting its Network & Communications segment and U.S. Electrical Construction services.
- Secular Megatrends: The company is benefiting from broad, long-term secular trends, including electrification, the reshoring and nearshoring of manufacturing, the ongoing energy transition, and increased focus on efficiency and sustainability. These trends generate demand across various industrial and energy infrastructure projects, as well as alternative energy and water & wastewater initiatives.
- Strategic Acquisitions: EMCOR actively pursues strategic acquisitions to expand its capabilities and market presence, contributing to overall revenue and earnings growth. Recent examples include the acquisition of Miller Electric Company, which has bolstered its U.S. Electrical revenue.
- Strong Project Backlog and Broad End-Market Demand: The company consistently reports a record or healthy backlog of remaining performance obligations (RPOs), providing strong visibility into future revenue. This backlog is supported by broad-based demand across diverse end markets, including high-tech manufacturing (semiconductors, biotech, life sciences, and pharmaceutical), healthcare, and robust opportunities in fire life safety projects and HVAC aftermarket services.
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Share Repurchases
- In December 2025, EMCOR's Board of Directors authorized an additional $500 million for share repurchases under its existing program.
- The company spent approximately $579 million on share repurchases in 2025 and $489.82 million in 2024.
- As of December 31, 2025, approximately $680.6 million in share repurchase authorization remained.
Share Issuance
- EMCOR's shares outstanding saw declines of 3.55% in 2025, 1.59% in 2024, and 5.13% in 2023, indicating net repurchases over issuances during this period.
Outbound Investments
- EMCOR acquired Miller Electric Company for approximately $865 million in February 2025, significantly enhancing its electrical construction capabilities, particularly in data centers, manufacturing, and healthcare markets.
- The company completed six acquisitions in 2025, including Miller Electric and five smaller firms, which totaled approximately $50.9 million (excluding Miller Electric) in the first nine months of 2025, aiming to deepen capabilities in electrical, mechanical, controls, and fire protection.
- In December 2025, EMCOR divested its United Kingdom operations for $255 million, allowing the company to sharpen its focus on U.S. markets.
Capital Expenditures
- Capital expenditures (purchases of property, plant, and equipment) amounted to $112.75 million in 2025 and $74.95 million in 2024.
- Quarterly capital expenditures for property, plant, and equipment remained moderate and predictable throughout 2025, ranging from approximately $26.1 million to $31.9 million.
- Organic investments are focused on virtual design construction (VDC), prefabrication, and field productivity.
Peer Outperformance in Construction & Engineering
EME has outperformed 86% of its 28 Construction & Engineering peers over 5Y. Construction & Engineering ranks 1st of 23 industries in Industrials by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Construction & Engineering constituents that EME has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
64%
of 33 industry peers · 5.3% return
3Y
77%
of 30 industry peers · 238.8% return
5Y
86%
of 28 industry peers · 483.8% return
No Construction & Engineering peer with a comparable growth profile has beaten EME by more than 20pp over 5Y.
Median price return by industry across the Industrials sector, ranked by 5Y. Construction & Engineering is EME's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering ← | 29 | -3.6% | 100.0% | 149.1% | STRL 1304% · FIX 1275% · AGX 776% |
| Marine Transportation | 5 | 34.9% | 45.7% | 144.5% | MATX 171% · KEX 145% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 16.1% | 58.1% | 103.1% | ALSN 274% · CAT 233% · WAB 224% |
| Aerospace & Defense | 54 | -9.5% | 62.7% | 65.1% | ATI 997% · FTAI 981% · HWM 644% |
| Industrial Machinery & Supplies & Components | 71 | 7.9% | 55.4% | 39.9% | CRS 890% · MLI 337% · SYM 273% |
| Trading Companies & Distributors | 19 | 21.5% | 40.7% | 32.2% | DXPE 420% · AIT 224% · URI 220% |
| Rail Transportation | 7 | 35.2% | 58.3% | 31.6% | CSX 52% · UNP 42% · NSC 32% |
| Diversified Support Services | 32 | 23.9% | 42.2% | 27.2% | CXW 233% · OPLN 166% · CACI 138% |
| Building Products | 34 | -6.4% | 11.9% | 20.1% | MOD 1023% · GFF 355% · TT 149% |
| Cargo Ground Transportation | 16 | 37.4% | 13.7% | 8.5% | XPO 292% · R 259% · ARCB 25% |
| Electrical Components & Equipment | 39 | -3.6% | 76.3% | 7.4% | POWL 1863% · VRT 819% · BE 569% |
| Office Services & Supplies | 10 | 27.7% | 21.1% | 1.3% | TILE 153% · PBI 146% · HNI 46% |
| Industrial Conglomerates | 17 | 12.6% | -4.5% | -13.9% | CSW 109% · CSL 78% · DD 76% |
| Data Processing & Outsourced Services | 6 | -17.5% | -0.6% | -15.4% | EXLS 61% · BR 18% · G -14% |
| Research & Consulting Services | 13 | 3.4% | -16.8% | -20.4% | HURN 281% · FCN 32% · BAH 11% |
| Agricultural & Farm Machinery | 16 | 12.9% | -7.6% | -22.0% | DE 107% · TTC 19% · AGCO 6% |
| Security & Alarm Services | 9 | -52.9% | 12.7% | -25.0% | BCO 65% |
| Environmental & Facilities Services | 29 | -32.9% | 21.6% | -28.3% | GEO 207% · CLH 175% · RSG 95% |
| Passenger Airlines | 11 | -1.6% | 41.6% | -34.2% | LTM 2778% · UAL 119% · DAL 110% |
| Air Freight & Logistics | 12 | -23.3% | -9.3% | -40.9% | FDX 83% · EXPD 69% · CHRW 59% |
| Human Resource & Employment Services | 22 | 20.5% | -9.6% | -44.1% | ADP 47% · FA 22% · PAYX 10% |
| Passenger Ground Transportation | 3 | -20.4% | 39.5% | -61.4% | UBER 46% · CAR -61% · LYFT -66% |
| Airport Services | 4 | -51.9% | -61.5% | -86.1% | JOBY -49% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 424.47 |
| Mkt Cap | 25.0 |
| Rev LTM | 16,344 |
| Op Inc LTM | 1,400 |
| FCF LTM | 1,063 |
| FCF 3Y Avg | 988 |
| CFO LTM | 1,186 |
| CFO 3Y Avg | 1,128 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 23.9% |
| Rev Chg 3Y Avg | 17.2% |
| Rev Chg Q | 32.2% |
| QoQ Delta Rev Chg LTM | 7.6% |
| Op Inc Chg LTM | 36.3% |
| Op Inc Chg 3Y Avg | 37.1% |
| Op Mgn LTM | 5.8% |
| Op Mgn 3Y Avg | 5.8% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 6.6% |
| CFO/Rev 3Y Avg | 8.2% |
| FCF/Rev LTM | 6.0% |
| FCF/Rev 3Y Avg | 7.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| United States mechanical construction and facilities services | 7,124 | 6,459 | 5,135 | 4,339 | 3,936 |
| United States electrical construction and facilities services | 5,136 | 3,371 | 2,787 | 2,439 | 2,034 |
| United States building services | 3,171 | 3,167 | 3,228 | 2,856 | 2,554 |
| United States industrial services | 1,293 | 1,284 | 1,179 | 1,175 | 1,021 |
| United Kingdom building services | 471 | 426 | 436 | 477 | 510 |
| Intersegment revenues | -208 | -140 | -183 | -210 | -151 |
| Total | 16,986 | 14,566 | 12,583 | 11,076 | 9,904 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| United States mechanical construction and facilities services | 905 | 800 | 531 | 330 | 313 |
| United States electrical construction and facilities services | 612 | 447 | 231 | 149 | 169 |
| United States building services | 187 | 177 | 183 | 147 | 124 |
| Gain on sale of United Kingdom operations | 145 | 0 | 0 | ||
| United States industrial services | 25 | 44 | 35 | 20 | -2 |
| United Kingdom building services | 21 | 21 | 26 | 30 | 28 |
| Impairment loss on identifiable intangible assets | 0 | 0 | -2 | 0 | 0 |
| Corporate administration | -182 | -144 | -127 | -110 | -102 |
| Total | 1,713 | 1,345 | 876 | 565 | 531 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| United States mechanical construction and facilities services | 3,207 | 2,659 | 2,243 | 1,835 | 1,665 |
| United States electrical construction and facilities services | 2,687 | 1,315 | 1,244 | 1,078 | 855 |
| United States building services | 1,437 | 1,396 | 1,383 | 1,207 | 1,098 |
| Corporate administration | 1,436 | 1,456 | 892 | 597 | 993 |
| United States industrial services | 525 | 607 | 572 | 553 | 589 |
| United Kingdom building services | 0 | 284 | 277 | 256 | 242 |
| Total | 9,291 | 7,716 | 6,610 | 5,525 | 5,441 |
Price Behavior
Price Behavior
| Market Price | $707.43 | |
| Market Cap ($ Bil) | 31.2 | |
| First Trading Date | 12/28/1995 | |
| Distance from 52W High | -25.0% | |
| 50 Days | 200 Days | |
| DMA Price | $739.78 | $781.27 |
| DMA Trend | down | up |
| Distance from DMA | -4.4% | -9.5% |
| 3M | 1YR | |
| Volatility | 36.4% | 41.8% |
| Downside Capture | 201.96 | 165.38 |
| Upside Capture | 109.85 | 147.91 |
| Correlation (S&P 500) | 40.9% | 53.3% |
EME Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.13 | 1.52 | 1.39 | 1.91 | 1.78 | 1.43 |
| Up Beta | 3.66 | 0.64 | 0.65 | 2.94 | 2.21 | 1.33 |
| Down Beta | 1.12 | 1.65 | 1.60 | 1.50 | 1.49 | 1.34 |
| Up Capture | 175% | 144% | 109% | 139% | 224% | 540% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 8 | 19 | 29 | 56 | 131 | 429 |
| Down Capture | 281% | 175% | 194% | 186% | 142% | 109% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 14 | 24 | 35 | 70 | 120 | 323 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EME | |
|---|---|---|---|---|
| EME | 4.9% | 41.8% | 0.21 | - |
| Sector ETF (XLI) | 11.5% | 17.3% | 0.46 | 62.4% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 54.2% |
| Gold (GLD) | -2.4% | 28.6% | -0.10 | 26.5% |
| Commodities (DBC) | 42.0% | 20.9% | 1.56 | -6.1% |
| Real Estate (VNQ) | 10.6% | 13.7% | 0.48 | 2.8% |
| Bitcoin (BTCUSD) | -29.9% | 43.5% | -0.70 | 25.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EME | |
|---|---|---|---|---|
| EME | 43.0% | 35.4% | 1.08 | - |
| Sector ETF (XLI) | 12.0% | 17.6% | 0.51 | 60.6% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 53.9% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 11.8% |
| Commodities (DBC) | 8.3% | 19.6% | 0.31 | 9.8% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.06 | 29.8% |
| Bitcoin (BTCUSD) | 5.0% | 51.5% | 0.28 | 22.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EME | |
|---|---|---|---|---|
| EME | 29.3% | 34.1% | 0.84 | - |
| Sector ETF (XLI) | 13.5% | 20.1% | 0.59 | 64.8% |
| Equity (SPY) | 15.2% | 17.9% | 0.71 | 58.1% |
| Gold (GLD) | 11.5% | 16.5% | 0.57 | 6.4% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 19.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 41.5% |
| Bitcoin (BTCUSD) | 61.1% | 66.2% | 1.01 | 19.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 1.6% | ||
| 7/30/2026 | 19.3% | 22.3% | 15.3% |
| 4/29/2026 | -3.5% | 8.0% | -1.8% |
| 2/26/2026 | -6.9% | -7.6% | -9.4% |
| 10/30/2025 | -16.6% | -13.1% | -21.8% |
| 7/31/2025 | -1.9% | -2.7% | -1.0% |
| 4/30/2025 | 2.9% | 8.3% | 17.8% |
| 2/26/2025 | -4.3% | -6.7% | -9.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 16 |
| # Negative | 10 | 7 | 7 |
| Median Positive | 3.1% | 5.6% | 10.0% |
| Median Negative | -2.3% | -3.0% | -3.3% |
| Max Positive | 19.3% | 22.3% | 18.1% |
| Max Negative | -16.6% | -13.1% | -21.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 1.6% | ||
| 7/30/2026 | 19.3% | 22.3% | 15.3% |
| 4/29/2026 | -3.5% | 8.0% | -1.8% |
| 2/26/2026 | -6.9% | -7.6% | -9.4% |
| 10/30/2025 | -16.6% | -13.1% | -21.8% |
| 7/31/2025 | -1.9% | -2.7% | -1.0% |
| 4/30/2025 | 2.9% | 8.3% | 17.8% |
| 2/26/2025 | -4.3% | -6.7% | -9.9% |
| 10/31/2024 | 3.3% | 16.2% | 18.1% |
| 7/25/2024 | 5.0% | 5.6% | 10.3% |
| 4/25/2024 | 1.3% | 2.0% | 14.1% |
| 2/28/2024 | 2.6% | 6.6% | 14.7% |
| 10/26/2023 | -0.3% | 0.7% | 6.5% |
| 7/27/2023 | 5.6% | 7.3% | 9.8% |
| 4/28/2023 | -2.0% | -1.8% | 0.0% |
| 2/23/2023 | 2.1% | 2.9% | -3.3% |
| 10/27/2022 | 4.2% | 5.9% | 13.7% |
| 7/28/2022 | 1.4% | -0.2% | 5.2% |
| 4/28/2022 | 1.0% | 1.0% | 2.2% |
| 2/24/2022 | 4.4% | 2.4% | 3.1% |
| 10/28/2021 | 6.8% | 5.6% | 5.2% |
| 7/29/2021 | -0.2% | -3.0% | -2.1% |
| 4/29/2021 | -1.5% | 2.0% | 3.7% |
| 2/25/2021 | -2.6% | 0.3% | 12.1% |
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 16 |
| # Negative | 10 | 7 | 7 |
| Median Positive | 3.1% | 5.6% | 10.0% |
| Median Negative | -2.3% | -3.0% | -3.3% |
| Max Positive | 19.3% | 22.3% | 18.1% |
| Max Negative | -16.6% | -13.1% | -21.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 08/03/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
Recent Forward Guidance
Updated 10/30/2026Latest: Q3 2026 Earnings Reported 10/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenues | Reported | 20.60 Bil | 20.80 Bil | 21.00 Bil | 2.7% | Raised | Guidance: 20.25 Bil for 2026 | |
| 2026 Non-GAAP Operating Margin | Reported | 10.0% | 0.4% | Raised | Guidance: 9.65% for 2026 | |||
| 2026 Non-GAAP Diluted EPS | Reported | 34.5 | 35 | 35.5 | 7.3% | Raised | Guidance: 32.63 for 2026 | |
Prior: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenues | Reported | 20.00 Bil | 20.25 Bil | 20.50 Bil | 7.3% | Raised | Guidance: 18.88 Bil for 2026 | |
| 2026 Operating Margin | Reported | 9.5% | 9.65% | 9.8% | 0.4% | Raised | Guidance: 9.2% for 2026 | |
| 2026 Diluted EPS | Reported | 32 | 32.63 | 33.25 | 12.5% | Raised | Guidance: 29 for 2026 | |
Q1 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 18.50 Bil | 18.88 Bil | 19.25 Bil | 4.1% | Raised | Guidance: 18.12 Bil for 2026 | |
| 2026 Operating Margin | Reported | 9.0% | 9.2% | 9.4% | 0 | Affirmed | Guidance: 9.2% for 2026 | |
| 2026 Diluted EPS | Reported | 28.25 | 29 | 29.75 | 2.7% | Raised | Guidance: 28.25 for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenues | Reported | 17.75 Bil | 18.12 Bil | 18.50 Bil | 8.2% | Higher New | Actual: 16.75 Bil for 2025 | |
| 2026 Operating Margin | Reported | 9.0% | 9.2% | 9.4% | -0.1% | Lower New | Actual: 9.3% for 2025 | |
| 2026 Diluted EPS | Reported | 27.25 | 28.25 | 29.25 | 11.3% | Higher New | Actual: 25.38 for 2025 | |
Insider Activity
Updated 10/19/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McEvoy, M Kevin | Direct | Buy | 10192026 | 736.79 | 2 | 1,474 | 9,992,346 | Form | |
| 2 | McEvoy, M Kevin | Direct | Buy | 10192026 | 826.31 | 1 | 826 | 11,204,764 | Form | |
| 3 | Lowe, Carol P | Direct | Sell | 6182026 | 844.50 | 950 | 802,275 | 14,591,271 | Form | |
| 4 | Reid, William P | Direct | Sell | 5132026 | 925.78 | 2,000 | 1,851,560 | 9,395,741 | Form | |
| 5 | Lind, Robert Peter | VP and Controller | Direct | Sell | 5042026 | 894.27 | 675 | 603,632 | 3,770,242 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McEvoy, M Kevin | Direct | Buy | 10192026 | 736.79 | 2 | 1,474 | 9,992,346 | Form | |
| 2 | McEvoy, M Kevin | Direct | Buy | 10192026 | 826.31 | 1 | 826 | 11,204,764 | Form | |
| 3 | Lowe, Carol P | Direct | Sell | 6182026 | 844.50 | 950 | 802,275 | 14,591,271 | Form | |
| 4 | Reid, William P | Direct | Sell | 5132026 | 925.78 | 2,000 | 1,851,560 | 9,395,741 | Form | |
| 5 | Lind, Robert Peter | VP and Controller | Direct | Sell | 5042026 | 894.27 | 675 | 603,632 | 3,770,242 | Form |
| 6 | Nalbandian, Jason R | SVP, CFO, Chief Acct. Officer | Direct | Sell | 5042026 | 856.43 | 800 | 685,144 | 15,550,200 | Form |
| 7 | Schwarzwaelder, Steven | Direct | Sell | 5042026 | 895.19 | 5,602 | 5,014,854 | 14,211,141 | Form | |
| 8 | Guzzi, Anthony | Chairman, President and CEO | Direct | Sell | 3092026 | 729.48 | 36,000 | 26,261,280 | 124,229,715 | Form |
| 9 | Mauricio, Maxine Lum | CAO, EVP & General Counsel | Direct | Sell | 3032026 | 735.00 | 3,357 | 2,467,395 | 17,531,955 | Form |
| 10 | Lind, Robert Peter | VP and Controller | Direct | Sell | 1052026 | 625.09 | 0 | 200 | 2,998,557 | Form |
| 11 | Walker-Lee, Robin A | Direct | Sell | 11052025 | 677.22 | 1,325 | 897,316 | 4,158,131 | Form |
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