Comfort Systems USA (FIX)


Market Price (7/25/2026): $1734.0 | Market Cap: $61.1 BilInvestor Relations Sector: Industrials | Industry: Construction & Engineering

Comfort Systems USA (FIX)


Market Price (7/25/2026): $1734.0
Market Cap: $61.1 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.6 Bil, FCF LTM is 2.2 Bil

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Electrification of Everything, and Sustainable & Green Buildings. Themes include Building Management Systems, Show more.

Stock price has recently run up significantly
12M Rtn12 month market price return is 209%

Key risks
FIX key risks include [1] its concentrated exposure to large, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.6 Bil, FCF LTM is 2.2 Bil
2 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Electrification of Everything, and Sustainable & Green Buildings. Themes include Building Management Systems, Show more.
3 Stock price has recently run up significantly
12M Rtn12 month market price return is 209%
4 Key risks
FIX key risks include [1] its concentrated exposure to large, Show more.

FIX in ETFs

Weight = FIX's share of each fund

SPY0.09%
VOO0.11%
IVV0.10%
VTI0.10%
ITOT0.08%
IWB0.08%
RSP0.19%
VUG0.21%
+30 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/24/2026

Comfort Systems USA (FIX) stock has gained about 25% since 3/31/2026 because of the following key factors:

1. Exceptional Fiscal Q1 2026 Earnings Performance and Strong Guidance. Comfort Systems USA reported diluted earnings per share (EPS) of $10.51 for fiscal Q1 2026 (ended March 31, 2026), more than double the $4.75 from fiscal Q1 2025 and significantly exceeding analyst consensus estimates of $6.81 by 54%. Revenue for the quarter surged 56.5% year-over-year to $2.87 billion, substantially beating the $2.39 billion consensus. The company's management expressed optimism for future quarters, projecting full-year 2026 same-store revenue growth in the mid- to high-20% range.

2. Continued Robust Fiscal Q2 2026 Financial Results. Building on the momentum from Q1, Comfort Systems USA delivered strong fiscal Q2 2026 (ended June 30, 2026) results, with diluted EPS of $12.53, nearly doubling the $6.53 reported in Q2 2025, and surpassing analysts' consensus estimates of $10.45 by $2.08. Quarterly revenue rose 50.3% year-over-year to $3.27 billion, exceeding the consensus estimate of $2.99 billion. This consistent outperformance demonstrated sustained operational strength and robust demand.

Show more
Updated on 7/24/2026

Comfort Systems USA (FIX) stock has gained about 25% since 3/31/2026 because of the following key factors:

1. Exceptional Fiscal Q1 2026 Earnings Performance and Strong Guidance. Comfort Systems USA reported diluted earnings per share (EPS) of $10.51 for fiscal Q1 2026 (ended March 31, 2026), more than double the $4.75 from fiscal Q1 2025 and significantly exceeding analyst consensus estimates of $6.81 by 54%. Revenue for the quarter surged 56.5% year-over-year to $2.87 billion, substantially beating the $2.39 billion consensus. The company's management expressed optimism for future quarters, projecting full-year 2026 same-store revenue growth in the mid- to high-20% range.

2. Continued Robust Fiscal Q2 2026 Financial Results. Building on the momentum from Q1, Comfort Systems USA delivered strong fiscal Q2 2026 (ended June 30, 2026) results, with diluted EPS of $12.53, nearly doubling the $6.53 reported in Q2 2025, and surpassing analysts' consensus estimates of $10.45 by $2.08. Quarterly revenue rose 50.3% year-over-year to $3.27 billion, exceeding the consensus estimate of $2.99 billion. This consistent outperformance demonstrated sustained operational strength and robust demand.

3. Record and Expanding Backlog Driven by Data Center and Technology Projects. The company reported a record backlog of $12.45 billion as of March 31, 2026, which further increased to $14.06 billion by June 30, 2026. This represented an 80.8% year-over-year increase in backlog as of Q1 2026 and a 73% year-over-year increase as of Q2 2026. This growth was largely attributed to strong demand in data center and technology projects across both its mechanical and electrical segments, providing significant future revenue visibility.

4. Exceptional Operating Cash Flow Generation and Increased Dividends. Comfort Systems USA demonstrated strong cash flow generation, with operating cash inflows of $388.8 million in fiscal Q1 2026 and an unprecedented $1.14 billion in fiscal Q2 2026. This robust cash position supported two consecutive quarterly dividend increases during the period, first from $0.70 to $0.80 per share in Q1 2026, and subsequently to $0.90 per share in Q2 2026. These increases signaled strong financial health and a commitment to returning capital to shareholders.

5. Strategic Acquisitions and Favorable Industry Tailwinds. The company continued its growth trajectory through strategic acquisitions, including Hunt Electric, which is projected to contribute approximately $250 million in annualized revenue. Comfort Systems USA also benefited from significant industry tailwinds, such as the rapid expansion of AI data centers, advanced manufacturing facilities, and U.S. reshoring initiatives, which continue to drive demand for its specialized mechanical and electrical contracting services.

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Stock Movement Drivers

Fundamental Drivers

The 25.8% change in FIX stock from 3/31/2026 to 7/24/2026 was primarily driven by a 23.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120267242026Change
Stock Price ($)1378.451733.6025.8%
Change Contribution By: 
Total Revenues ($ Mil)9,10211,22823.4%
Net Income Margin (%)11.2%12.8%13.7%
P/E Multiple47.542.6-10.4%
Shares Outstanding (Mil)35350.1%
Cumulative Contribution25.8%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/24/2026
ReturnCorrelation
FIX25.8% 
Market (SPY)13.6%59.6%
Sector (XLI)12.9%70.8%

Fundamental Drivers

The 85.9% change in FIX stock from 12/31/2025 to 7/24/2026 was primarily driven by a 34.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)123120257242026Change
Stock Price ($)932.441733.6085.9%
Change Contribution By: 
Total Revenues ($ Mil)8,32311,22834.9%
Net Income Margin (%)10.1%12.8%26.9%
P/E Multiple39.342.68.3%
Shares Outstanding (Mil)35350.2%
Cumulative Contribution85.9%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/24/2026
ReturnCorrelation
FIX85.9% 
Market (SPY)8.7%58.0%
Sector (XLI)18.1%69.2%

Fundamental Drivers

The 224.0% change in FIX stock from 6/30/2025 to 7/24/2026 was primarily driven by a 57.1% change in the company's Net Income Margin (%).
(LTM values as of)63020257242026Change
Stock Price ($)535.011733.60224.0%
Change Contribution By: 
Total Revenues ($ Mil)7,32211,22853.4%
Net Income Margin (%)8.1%12.8%57.1%
P/E Multiple31.942.633.4%
Shares Outstanding (Mil)36350.9%
Cumulative Contribution224.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/24/2026
ReturnCorrelation
FIX224.0% 
Market (SPY)20.6%54.1%
Sector (XLI)25.1%59.8%

Fundamental Drivers

The 966.8% change in FIX stock from 6/30/2023 to 7/24/2026 was primarily driven by a 161.5% change in the company's Net Income Margin (%).
(LTM values as of)63020237242026Change
Stock Price ($)162.511733.60966.8%
Change Contribution By: 
Total Revenues ($ Mil)4,43011,228153.5%
Net Income Margin (%)4.9%12.8%161.5%
P/E Multiple26.942.658.3%
Shares Outstanding (Mil)36351.7%
Cumulative Contribution966.8%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/24/2026
ReturnCorrelation
FIX966.8% 
Market (SPY)72.6%56.0%
Sector (XLI)77.3%59.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FIX Return89%17%80%107%121%96%3463%
Peers Return52%-2%46%49%47%47%599%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
FIX Win Rate75%42%83%75%75%57% 
Peers Win Rate65%43%63%62%58%69% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
FIX Max Drawdown-20%-24%-19%-16%-46%-19% 
Peers Max Drawdown-18%-32%-29%-23%-35%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: EME, PWR, MTZ, APG, MYRG. See FIX 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 7/24/2026 (YTD)

How Low Can It Go

EventFIXS&P 500
2025 US Tariff Shock
  % Loss-25.0%-18.8%
  % Gain to Breakeven33.3%23.1%
  Time to Breakeven21 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.0%-24.5%
  % Gain to Breakeven29.8%32.4%
  Time to Breakeven41 days427 days
2020 COVID-19 Crash
  % Loss-38.9%-33.7%
  % Gain to Breakeven63.6%50.9%
  Time to Breakeven99 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-25.8%-19.2%
  % Gain to Breakeven34.9%23.8%
  Time to Breakeven112 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-15.6%-12.2%
  % Gain to Breakeven18.5%13.9%
  Time to Breakeven23 days62 days
2014-2016 Oil Price Collapse
  % Loss-15.7%-6.8%
  % Gain to Breakeven18.7%7.3%
  Time to Breakeven19 days15 days

Compare to EME, PWR, MTZ, APG, MYRG

In The Past

Comfort Systems USA's stock fell -25.0% during the 2025 US Tariff Shock. Such a loss loss requires a 33.3% 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.

EventFIXS&P 500
2025 US Tariff Shock
  % Loss-25.0%-18.8%
  % Gain to Breakeven33.3%23.1%
  Time to Breakeven21 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.0%-24.5%
  % Gain to Breakeven29.8%32.4%
  Time to Breakeven41 days427 days
2020 COVID-19 Crash
  % Loss-38.9%-33.7%
  % Gain to Breakeven63.6%50.9%
  Time to Breakeven99 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-25.8%-19.2%
  % Gain to Breakeven34.9%23.8%
  Time to Breakeven112 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-25.9%-17.9%
  % Gain to Breakeven34.9%21.8%
  Time to Breakeven24 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-30.3%-15.4%
  % Gain to Breakeven43.4%18.2%
  Time to Breakeven268 days125 days
2008-2009 Global Financial Crisis
  % Loss-48.9%-53.4%
  % Gain to Breakeven95.6%114.4%
  Time to Breakeven399 days1085 days

Compare to EME, PWR, MTZ, APG, MYRG

In The Past

Comfort Systems USA's stock fell -25.0% during the 2025 US Tariff Shock. Such a loss loss requires a 33.3% 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 Comfort Systems USA (FIX)

Comfort Systems USA (FIX) is a prominent mechanical and electrical contractor operating throughout the United States. The company provides a full spectrum of services for building systems, covering everything from initial design, engineering, and integration to installation, ongoing maintenance, repair, renovation, and replacement. Essentially, they are responsible for ensuring the critical operational infrastructure within commercial, industrial, and institutional buildings operates reliably and efficiently.

The company's core services encompass the comprehensive design, engineering, and installation of complex Mechanical, Electrical, and Plumbing (MEP) systems. This includes specialized work on Heating, Ventilation, and Air Conditioning (HVAC) systems, plumbing, piping and controls, electrical infrastructure, monitoring solutions, and fire protection. Beyond new construction, Comfort Systems USA also offers essential renovation, expansion, and continuous maintenance programs, alongside specific off-site construction capabilities for existing structures.

Comfort Systems USA serves a wide array of clients across the commercial, industrial, and institutional markets. Their primary customer base includes building owners and developers, general contractors, architects, consulting engineers, and property managers. By addressing the specialized needs of these stakeholders, the company plays a vital role in the construction, modernization, and upkeep of the intricate mechanical and electrical systems that are fundamental to contemporary buildings and facilities.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Comfort Systems USA (FIX):

  • Like **Johnson Controls**, but focused on the direct installation, renovation, and ongoing service of a building's mechanical, electrical, and plumbing (MEP) systems.
  • Similar to a **CBRE Group** or **JLL**, but they are the ones directly installing, repairing, and maintaining a building's critical internal systems like HVAC, electrical, and plumbing.
  • A specialized **general contractor** for all of a commercial building's essential internal systems (HVAC, electrical, plumbing, and fire protection), handling everything from installation to long-term maintenance.

AI Analysis | Feedback

  • Mechanical Systems Services: Provides installation, renovation, maintenance, repair, and replacement for heating, ventilation, air conditioning (HVAC), plumbing, and piping systems.
  • Electrical Systems Services: Offers design, installation, renovation, maintenance, repair, and replacement services for diverse electrical systems.
  • MEP Systems Engineering & Integration: Delivers comprehensive design, engineering, integration, and start-up services for Mechanical, Electrical, and Plumbing (MEP) systems.
  • Building Systems Monitoring & Controls: Includes monitoring, maintenance, and management services for existing building systems and their associated controls.
  • Off-site Construction: Engages in specialized construction services using prefabrication and modular techniques for various building components.
  • Fire Protection Services: Provides installation, maintenance, and repair services for essential fire protection systems.

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Brian E. Lane, Chief Executive Officer & Director

Mr. Lane has served as Chief Executive Officer since December 2011 and as a Director since November 2010. He joined Comfort Systems USA in October 2003. Prior to Comfort Systems, he spent fifteen years at Halliburton, a global service and equipment company, holding various positions in business development, strategy, and project initiatives, departing as the Regional Director of Europe and Africa. His additional experience includes serving as a Regional Director of Capstone Turbine Corporation and a Vice President of Kvaerner, an international engineering and construction company. Mr. Lane is a member of the Board of Directors of Main Street Capital Corporation.

William George, Executive Vice President & Chief Financial Officer

Mr. George was one of the small group of executives who helped found Comfort Systems USA in 1997. From the company's inception until 2005, he served as General Counsel. Before joining the Company, Mr. George was General Counsel of a large public consolidator of medical transportation, and prior to that, he was a corporate lawyer at the Boston law firm Ropes & Gray. Comfort Systems USA was initially funded by private equity to provide capital for growth and acquisitions.

Trent McKenna, President & Chief Operating Officer

Mr. McKenna has served as President and Chief Operating Officer for Comfort Systems USA since January 2026. Prior to this, he served as Chief Operating Officer from January 2022 to December 2025. Mr. McKenna has held various roles at the Company since 2004, including Senior Vice President, Vice President – Region 4, General Counsel, and Secretary. Before joining Comfort Systems USA in 2004, from February 1999 to August 2004, he was a practicing attorney in complex commercial litigation at Akin Gump Strauss Hauer & Feld LLP.

Julie Shaeff, Senior Vice President & Chief Accounting Officer

Ms. Shaeff has served as the Chief Accounting Officer since April 2005. Prior to her current position, she was the Assistant Controller from September 1999 until April 2005. Before joining Comfort Systems USA, Ms. Shaeff was a Financial Reporting Manager for Browning-Ferris Industries, Inc., a then publicly-held waste services company. From 1987 to 1996, she held various positions with Andersen LLP.

Rachel Eslicker, Senior Vice President & General Counsel

Ms. Eslicker has served as Senior Vice President and General Counsel for Comfort Systems USA since December 2025. Prior to this, she served as Associate General Counsel and Assistant Corporate Secretary from January 2023 to December 2025 and as Senior Corporate Counsel from January 2019 to December 2022. Ms. Eslicker started her career as an associate in the Mergers and Acquisitions and Capital Markets department of Vinson & Elkins LLP.

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Key Risks to Comfort Systems USA (FIX)

  1. Scarcity of Skilled Labor: Comfort Systems USA, Inc. acknowledges an increasing scarcity of skilled labor in the building and services trades. This shortage poses a significant risk as it could limit the company's ability to scale operations and meet the growing demand for its services, potentially impacting project timelines and overall profitability. This is a widespread challenge within the HVAC industry, making recruitment, training, and retention of talented individuals crucial for sustaining operations.
  2. Market Cyclicality and Economic Uncertainties: The company's business is susceptible to the impacts of slower periods of economic growth, which can affect the demand for new mechanical, electrical, and plumbing (MEP) products and services. Additionally, Comfort Systems USA is exposed to broader market risks, including fluctuations in interest rates and volatility in commodity prices. The industry also faces challenges from fluctuating demand, particularly due to seasonal variations, and increased competition. Project delays can also arise from various factors, including unforeseen site conditions or material procurement issues.
  3. Operational and Project Execution Risks: Given the nature of mechanical and electrical installation and maintenance services, Comfort Systems USA faces inherent operational and project execution risks. This includes the potential for project delays and execution challenges, especially concerning large and complex projects such as hyperscale data centers. Furthermore, the work involves significant safety hazards for employees, such as electrical shocks, falls from heights, and exposure to hazardous materials like refrigerants or asbestos. These safety risks can lead to bodily injury and potential liability for the company.

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Comfort Systems USA (FIX) operates within several addressable markets in the United States, providing mechanical and electrical installation, renovation, maintenance, repair, and replacement services. The key addressable markets for their main products and services are:

  • Electrical Services: The U.S. electrical services market was valued at approximately $163.9 billion in 2024 and is projected to reach $294.6 billion by 2034. Another estimate for the U.S. electrical contractors market size was $237.59 billion in 2023, expected to grow to $256.65 billion by 2029.
  • Plumbing Services: The U.S. plumbing services market is valued at approximately $134 billion. Another source indicates the U.S. plumbing market was estimated at $121.5 billion. The plumbers in the U.S. industry revenue was estimated at $191.4 billion in 2026.
  • Fire Protection Services: The U.S. fire and life safety protection services market generated revenue of $32.5 billion in 2024. The U.S. fire protection system market size was estimated at $25.94 billion in 2024 and is projected to reach $32.26 billion by 2030.
  • HVAC Services: The U.S. HVAC services market will generate an estimated revenue of $26.9 billion in 2024, projected to reach $32.9 billion by 2030. Another report valued the U.S. HVAC services market size at $17.93 billion in 2025, estimated to reach $18.98 billion in 2026 and $25.35 billion by 2031. The broader United States HVAC Market was valued at $31.26 billion in 2024.
  • Mechanical, Electrical, and Plumbing (MEP) Services: The U.S. MEP services market is expected to generate a value of $34.90 billion in 2025. The United States MEP Services Market size is estimated at $51.81 billion in 2025 and is expected to reach $100.42 billion by 2030.
  • Off-site Construction (Modular Construction): The U.S. modular construction market size was estimated at $10.53 billion in 2022 and is expected to grow to $19.17 billion by 2030.

AI Analysis | Feedback

Comfort Systems USA (FIX) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:

  1. Strong Demand in the Technology Sector, Particularly Data Centers: Comfort Systems USA is significantly benefiting from the "AI Cooling Supercycle" and the escalating demand for high-density data center cooling and infrastructure. Technology-related work, primarily driven by data centers, constituted 45% of the company's revenue in the fourth quarter of 2025, a notable increase from 33% in the prior year, and is a major driver of its pipeline and backlog. Analysts and management consistently point to AI/data center construction as a primary growth catalyst for the company.

  2. Growth in Industrial and Manufacturing Sectors: Beyond data centers, the broader industrial and manufacturing markets are significant contributors to Comfort Systems USA's growth. Industrial customers accounted for 60% of total revenue in the first quarter of 2024. The company is well-positioned to capitalize on supportive government policies, such as the CHIPS Act and the Inflation Reduction Act, which are expected to fuel further expansion in these sectors.

  3. Strategic Acquisitions and Capacity Expansion: Acquisitions have played a crucial role in Comfort Systems USA's revenue growth. The company has benefited from recent substantial acquisitions, including Summit Industrial and J&S Mechanical, which are contributing to increased revenue and backlog. Furthermore, Comfort Systems USA is actively pursuing capacity expansion plans, including a projected modular capacity expansion to 4 million square feet, indicating a robust growth trajectory.

  4. Record-High Backlog and Strong Project Pipelines: Comfort Systems USA has reported an all-time high backlog, reaching $11.94 billion at year-end 2025, nearly doubling from the previous year. This substantial and growing backlog provides significant revenue visibility for 2026 and beyond, with much of the new work already scheduled for 2027 and 2028. Management expresses optimism for continued growth, citing persistent demand and strong project pipelines.

  5. Leveraging Modular Construction and Higher-Margin Services: The company's strategic use of modular construction is a key competitive advantage. This approach allows for faster, safer, and higher-quality project delivery by prebuilding complex components in a factory setting, which also helps address labor shortages in the construction industry. This, combined with a focus on higher-margin services and excellent operational execution, has led to expanding gross profit margins, further driving revenue and profitability.

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Share Repurchases

  • Through May 16, 2025, Comfort Systems USA repurchased 10,757,964 shares at an aggregate price of approximately $437.6 million.
  • In May 2025, the Board of Directors approved an amendment to the stock repurchase program, authorizing the company to acquire up to an additional 1,000,000 shares of its outstanding common stock.
  • In 2025, the company repurchased 0.4 million shares for approximately $217.9 million, including over $200 million returned to shareholders via repurchases in Q4 2025.

Share Issuance

  • No significant share issuances were identified over the last 3-5 years; instead, shares outstanding have shown a slight decline. For example, shares outstanding for the quarter ending December 31, 2025, were 0.035 billion, a 1.01% decline year-over-year.

Outbound Investments

  • Comfort Systems USA has been active in acquisitions, completing several in recent years including Summit (January 2024), DECCO (October 2023, for $59.2 million), J & S Mechanical (February 2023), and Eldeco (February 2023).
  • In the first quarter of 2025, the company acquired Century Contractors, a mechanical contractor expected to contribute approximately $90 million in annual revenues.
  • During the third quarter of 2025, Comfort Systems USA completed acquisitions of FZ Electrical and Meisner Electric, anticipated to add roughly $200 million in annualized revenue.

Capital Expenditures

  • Capital expenditures for the full year 2025 totaled $155 million.
  • The company anticipates that capital expenditures will consistently remain within the range of 1-1.5% of its revenue.
  • A primary focus of capital expenditures involves expanding the company's modular construction capacity, with plans to increase it from approximately 3 million square feet to 4 million square feet by the end of 2026, including new additions in Texas and North Carolina.

Better Bets vs. Comfort Systems USA (FIX)

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Peer Comparisons

Peers to compare with:

Financials

FIXEMEPWRMTZAPGMYRGMedian
NameComfort .EMCOR Quanta S.MasTec APi MYR  
Mkt Price1,733.60744.85625.84337.8439.57379.17502.50
Mkt Cap61.133.293.726.317.15.929.8
Rev LTM11,22817,74730,12115,2808,1743,82513,254
Op Inc LTM1,8471,6541,6917585731931,206
FCF LTM2,1601,0791,682257680231879
FCF 3Y Avg1,1141,1411,48463557294875
CFO LTM2,5501,1942,379566782328988
CFO 3Y Avg1,3171,2322,0808476601771,039

Growth & Margins

FIXEMEPWRMTZAPGMYRGMedian
NameComfort .EMCOR Quanta S.MasTec APi MYR  
Rev Chg LTM46.1%18.3%21.1%22.6%14.5%13.1%19.7%
Rev Chg 3Y Avg33.9%16.0%19.8%14.0%7.0%6.8%15.0%
Rev Chg Q50.3%19.7%26.3%34.5%15.3%20.0%23.2%
QoQ Delta Rev Chg LTM10.8%4.5%5.8%6.9%3.3%4.6%5.2%
Op Inc Chg LTM97.4%17.8%21.6%60.7%22.4%235.3%41.6%
Op Inc Chg 3Y Avg79.5%39.7%26.0%124.6%36.9%62.9%51.3%
Op Mgn LTM16.5%9.3%5.6%5.0%7.0%5.1%6.3%
Op Mgn 3Y Avg12.7%8.7%5.5%3.4%6.4%3.4%5.9%
QoQ Delta Op Mgn LTM0.8%0.1%0.0%0.4%0.0%0.6%0.2%
CFO/Rev LTM22.7%6.7%7.9%3.7%9.6%8.6%8.2%
CFO/Rev 3Y Avg14.5%8.2%8.2%6.6%8.9%4.8%8.2%
FCF/Rev LTM19.2%6.1%5.6%1.7%8.3%6.0%6.1%
FCF/Rev 3Y Avg12.3%7.6%5.9%5.0%7.7%2.5%6.7%

Valuation

FIXEMEPWRMTZAPGMYRGMedian
NameComfort .EMCOR Quanta S.MasTec APi MYR  
Mkt Cap61.133.293.726.317.15.929.8
P/S5.41.93.11.72.11.52.0
P/Op Inc33.120.155.434.729.830.531.8
P/EBIT33.118.354.034.029.929.831.5
P/E42.624.884.958.552.741.547.6
P/CFO23.927.839.446.521.818.025.9
Total Yield2.5%4.2%1.2%1.7%1.9%2.4%2.2%
Dividend Yield0.1%0.2%0.1%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg3.9%4.8%2.6%5.5%3.2%1.4%3.6%
D/E0.00.00.10.10.20.00.0
Net D/E-0.0-0.00.10.10.1-0.00.0

Returns

FIXEMEPWRMTZAPGMYRGMedian
NameComfort .EMCOR Quanta S.MasTec APi MYR  
1M Rtn-11.3%-12.0%-10.8%-14.1%-5.7%-19.3%-11.7%
3M Rtn0.5%-14.3%0.2%-10.2%-18.6%11.8%-5.0%
6M Rtn54.7%7.4%33.6%39.7%-5.4%55.0%36.6%
12M Rtn208.7%28.9%53.8%85.9%14.1%94.1%69.8%
3Y Rtn945.7%295.3%205.8%189.0%110.3%152.9%197.4%
1M Excs Rtn-12.0%-12.8%-11.6%-14.8%-6.4%-20.1%-12.4%
3M Excs Rtn-6.5%-18.9%-5.5%-16.0%-23.4%7.9%-11.3%
6M Excs Rtn46.1%-1.1%26.3%30.9%-13.9%44.4%28.6%
12M Excs Rtn200.6%13.5%38.1%68.7%-2.2%82.4%53.4%
3Y Excs Rtn872.9%230.0%151.8%131.0%45.3%89.0%141.4%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Mechanical Segment6,6745,5283,9463,1782,543
Electrical Segment2,4281,5001,261962531
Corporate00000
Total9,1027,0275,2074,1403,074


Operating Income by Segment
$ Mil2025202420232022
Mechanical Segment999617357237
Electrical Segment38719311162
Corporate-72-60-50-45
Total1,315749418254


Assets by Segment
$ Mil20252024202320222021
Mechanical Segment3,6843,1632,1801,7411,453
Electrical Segment1,766985901790690
Corporate9925632256666
Total6,4414,7113,3062,5972,209


Price Behavior

Price Behavior
Market Price$1,733.60 
Market Cap ($ Bil)61.0 
First Trading Date06/27/1997 
Distance from 52W High-16.1% 
   50 Days200 Days
DMA Price$1,846.54$1,376.64
DMA Trendupup
Distance from DMA-6.1%25.9%
 3M1YR
Volatility58.0%57.7%
Downside Capture340.12235.05
Upside Capture291.10326.98
Correlation (SPY)58.7%54.7%
FIX Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta2.822.552.542.402.451.88
Up Beta2.192.122.572.382.091.73
Down Beta2.851.922.331.941.971.60
Up Capture422%328%345%569%1119%5078%
Bmk +ve Days11244067140429
Stock +ve Days13233875147423
Down Capture225%272%232%165%161%111%
Bmk -ve Days10172358112321
Stock -ve Days8182550105328

[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 FIX
FIX218.6%57.6%2.21-
Sector ETF (XLI)20.1%16.6%0.9360.1%
Equity (SPY)17.6%12.7%1.0054.2%
Gold (GLD)19.2%28.1%0.6121.0%
Commodities (DBC)34.7%19.1%1.42-5.8%
Real Estate (VNQ)13.8%14.1%0.692.2%
Bitcoin (BTCUSD)-45.4%42.9%-1.2924.1%

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 FIX
FIX89.1%45.4%1.55-
Sector ETF (XLI)14.0%17.6%0.6360.8%
Equity (SPY)12.8%17.1%0.5855.3%
Gold (GLD)17.0%18.4%0.7511.5%
Commodities (DBC)9.6%19.5%0.3810.0%
Real Estate (VNQ)3.0%18.9%0.0630.8%
Bitcoin (BTCUSD)15.7%53.4%0.4722.6%

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 FIX
FIX50.0%42.8%1.10-
Sector ETF (XLI)13.9%20.0%0.6161.3%
Equity (SPY)14.9%17.9%0.7155.7%
Gold (GLD)11.3%16.1%0.577.8%
Commodities (DBC)7.2%17.9%0.3216.7%
Real Estate (VNQ)5.2%20.7%0.2141.7%
Bitcoin (BTCUSD)58.3%66.2%0.9816.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity0.8 Mil
Short Interest: % Change Since 630202612.4%
Average Daily Volume0.4 Mil
Days-to-Cover Short Interest1.9 days
Basic Shares Quantity35.2 Mil
Short % of Basic Shares2.4%

Earnings Returns History

Updated 7/23/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/23/2026-2.7%3.7%3.1%
2/19/20266.5%4.7%-1.2%
10/23/202519.0%16.8%8.4%
7/24/202522.4%25.0%22.6%
4/24/20255.6%11.1%25.5%
2/20/2025-4.7%-6.7%-7.7%
10/24/2024-10.4%-5.4%18.9%
7/25/20246.0%11.8%16.0%
...
SUMMARY STATS   
# Positive161919
# Negative855
Median Positive7.8%11.8%15.0%
Median Negative-2.9%-5.4%-1.2%
Max Positive22.4%25.0%29.9%
Max Negative-12.9%-13.9%-7.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/23/2026-2.7%3.7%3.1%
2/19/20266.5%4.7%-1.2%
10/23/202519.0%16.8%8.4%
7/24/202522.4%25.0%22.6%
4/24/20255.6%11.1%25.5%
2/20/2025-4.7%-6.7%-7.7%
10/24/2024-10.4%-5.4%18.9%
7/25/20246.0%11.8%16.0%
4/25/2024-3.0%-1.2%10.0%
2/22/202412.6%23.4%29.9%
10/26/202314.5%22.2%29.5%
7/26/2023-0.3%5.4%8.3%
4/26/202312.1%12.7%13.2%
2/22/20239.8%18.6%9.6%
10/26/20228.0%6.4%15.0%
7/27/20226.3%12.9%13.9%
4/27/20221.1%6.2%4.1%
2/23/2022-2.0%2.9%4.2%
10/27/20217.6%15.1%18.8%
7/28/20210.8%-0.2%-0.2%
4/28/20211.0%4.3%-0.6%
2/25/2021-1.1%7.4%20.1%
10/26/2020-12.9%-13.9%-3.1%
7/27/202011.6%18.1%20.1%
SUMMARY STATS   
# Positive161919
# Negative855
Median Positive7.8%11.8%15.0%
Median Negative-2.9%-5.4%-1.2%
Max Positive22.4%25.0%29.9%
Max Negative-12.9%-13.9%-7.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/19/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202504/24/202510-Q
12/31/202402/20/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/22/202410-K
09/30/202310/26/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202202/22/202310-K
09/30/202210/26/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/19/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202504/24/202510-Q
12/31/202402/20/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/22/202410-K
09/30/202310/26/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202202/22/202310-K
09/30/202210/26/202210-Q
06/30/202207/27/202210-Q
03/31/202204/27/202210-Q
12/31/202102/23/202210-K
09/30/202110/27/202110-Q
06/30/202107/28/202110-Q
03/31/202104/28/202110-Q
12/31/202002/25/202110-K
09/30/202010/26/202010-Q
06/30/202007/27/202010-Q
03/31/202004/27/202010-Q
12/31/201902/26/202010-K
09/30/201910/25/201910-Q

Insider Activity

Updated 6/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Myers, FranklinDirectSell62620261954.476,70013,094,949121,401,904Form
2Hardy, Rhoman JDirectSell52820261900.08342649,8273,590,992Form
3Shaeff, JulieCHIEF ACCOUNTING OFFICERDirectSell51120262000.371,1232,246,41625,252,671Form
4Myers, FranklinDirectSell50820261902.574,5008,561,574131,245,124Form
5Lane, Brian ECHIEF EXECUTIVE OFF.DirectSell50620261969.8411,11321,890,810317,319,234Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Myers, FranklinDirectSell62620261954.476,70013,094,949121,401,904Form
2Hardy, Rhoman JDirectSell52820261900.08342649,8273,590,992Form
3Shaeff, JulieCHIEF ACCOUNTING OFFICERDirectSell51120262000.371,1232,246,41625,252,671Form
4Myers, FranklinDirectSell50820261902.574,5008,561,574131,245,124Form
5Lane, Brian ECHIEF EXECUTIVE OFF.DirectSell50620261969.8411,11321,890,810317,319,234Form
6Mercado,, Pablo GDirectSell50120261779.78500889,8905,339,340Form
7Sandbrook, William JDirectSell43020261732.671,5002,599,00013,282,623Form
8Shaeff, JulieCHIEF ACCOUNTING OFFICERDirectSell30420261382.152,2873,160,97418,985,195Form
9Myers, FranklinDirectSell22720261472.568,63612,717,032108,962,114Form
10Lane, Brian EPRESIDENT/CHIEF EXECUTIVE OFF.DirectSell22620261453.129,36513,608,439249,242,953Form
11Sandbrook, William JDirectSell22620261443.322,5003,608,29413,229,450Form
12Skidmore, Constance EllenDirectSell22420261425.001,0001,425,00017,993,475Form
13Mercado,, Pablo GDirectSell22420261405.00500702,5004,917,500Form
14George, William IiiCHIEF FINANCIAL OFFICERDirectSell22320261434.979,00012,914,74854,276,381Form
15Howell, Laura FinleySVP & GENERAL COUNSELDirectSell12052025996.161,000996,1637,907,545Form
16George, William IiiCHIEF FINANCIAL OFFICERDirectSell12032025958.884,3704,190,29938,186,377Form
17Lane, Brian EPRESIDENT/CHIEF EXECUTIVE OFF.DirectSell11252025947.987,1586,785,645171,478,315Form
18Anderson, DarcyDirectSell11032025958.724,0003,834,88921,604,805Form
19Bulls, Herman EDirectSell103120251013.622,0002,027,24730,990,528Form
20Myers, FranklinDirectSell103120251006.685,0005,033,41083,454,953Form
21Mercado,, Pablo GDirectSell103020251005.412,5002,513,5164,021,625Form
22Sandbrook, William JDirectSell9102025733.56800586,8478,557,691Form
23Sandbrook, William JDirectSell9102025708.55700495,9828,832,731Form
24Bulls, Herman EDirectSell8282025710.003,0002,130,00023,127,540Form
25Sandbrook, William JDirectSell8272025689.58700482,7039,078,944Form
26Mercado,, Pablo GDirectSell8252025695.881,078750,1594,523,220Form
27Shaeff, JulieCHIEF ACCOUNTING OFFICERDirectSell8132025704.501,369964,46011,288,204Form
28George, William IiiCHIEF FINANCIAL OFFICERDirectSell8112025692.608,4365,842,78532,879,866Form
29Lane, Brian EPRESIDENT/CHIEF EXECUTIVE OFF.DirectSell8082025691.7410,0006,917,439130,079,673Form
30Myers, FranklinDirectSell8072025683.574,5003,076,04568,627,252Form
31Trent, T McKennaEVP & CHIEF OPERATING OFFICERDirectSell7312025716.634,4003,153,16015,507,096Form
32Bulls, Herman EDirectSell6112025500.012,5001,250,01517,787,213Form
33Anderson, DarcyDirectSell6092025506.828,0004,054,58913,448,564Form

Investor Activity (13F)

Updated Jul 25, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Castle Hook Partners LP$288.1 Mil5.8%44TRIM -22.0%13F
Goodlander Investment Management, LLC$16.5 Mil5.7%12New13F
Blue Grotto Capital, LLC$48.9 Mil5.6%21TRIM -36.2%13F
BWCP, LP$30.4 Mil4.6%27TRIM -34.5%13F
Engle Capital Management, L.P.$11.6 Mil3.9%22ADD +12.0%13F
California First Leasing Corp$12.0 Mil3.9%39Hold13F
Thames Capital Management LLC$13.9 Mil2.5%43ADD +9.0%13F
Benchstone Capital Management LP$9.6 Mil1.1%38New13F
Neumeier Poma Investment Counsel LLC$10.6 Mil0.9%41TRIM -47.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Goodlander Investment Management, LLC$16.5 Mil5.7%12New13F
Benchstone Capital Management LP$9.6 Mil1.1%38New13F
Engle Capital Management, L.P.$11.6 Mil3.9%22ADD +12.0%13F
Thames Capital Management LLC$13.9 Mil2.5%43ADD +9.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Third Point LLC$98.0 Mil1.3%44ExitedDec 31, 202513F
Neumeier Poma Investment Counsel LLC$10.6 Mil0.9%41TRIM -47.5%Mar 31, 202613F
Blue Grotto Capital, LLC$48.9 Mil5.6%21TRIM -36.2%Mar 31, 202613F
BWCP, LP$30.4 Mil4.6%27TRIM -34.5%Mar 31, 202613F
Castle Hook Partners LP$288.1 Mil5.8%44TRIM -22.0%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Castle Hook Partners LP$288.1 Mil5.8%44TRIM -22.0%13F
Blue Grotto Capital, LLC$48.9 Mil5.6%21TRIM -36.2%13F
BWCP, LP$30.4 Mil4.6%27TRIM -34.5%13F
Goodlander Investment Management, LLC$16.5 Mil5.7%12New13F
Thames Capital Management LLC$13.9 Mil2.5%43ADD +9.0%13F
California First Leasing Corp$12.0 Mil3.9%39Hold13F
Engle Capital Management, L.P.$11.6 Mil3.9%22ADD +12.0%13F
Neumeier Poma Investment Counsel LLC$10.6 Mil0.9%41TRIM -47.5%13F
Benchstone Capital Management LP$9.6 Mil1.1%38New13F
Core Cache Last Updated: 7/24/2026