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Develops and implements energy-efficiency and renewable-energy projects for government, institutional and utility customers.
Develops and implements energy-efficiency and renewable-energy projects for government, institutional and utility customers.
Builds retrofit projects, often under performance contracts where the customer pays from energy savings over many years and the company guarantees them. It increasingly keeps what it builds, owning solar, battery and renewable-gas plants that sell power or gas under long-term contracts. Founder George Sakellaris holds the super-voting class B shares.
Moat: narrow (process know-how, regulatory licence). Performance-contracting expertise and government procurement relationships built over many project cycles.
Headquarters: Framingham, Massachusetts, US · Founded: 2000 · Employees: 1,601
Size Ameresco (AMRC) is a United States Industrials company (Engineering & Construction) with a market value of $1.15B, the 2164th largest of 3,117 United States companies the cockpit tracks. Shares closed at $21.61 on 6 Nov 2026.
Performance Over six months the shares fell 27.9%, against -15.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 8.9% over the last twelve months (peer median +6.1%); the operating margin is 6.8% (peer median 6.4%).
Valuation It trades at 15.6× forward earnings against a peer median of 16.9× (8th cheapest of 17).
Capital Return on invested capital runs 6.4 points below its cost of capital (9.7% WACC).
Backlog Backlog (remaining performance obligations) was $3.82B at 30 Jun 2026, up 2% on a year earlier. Backlog detail →
Short interest Short interest is 14.2% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.02B | $1.93B | $1.77B | $1.37B | $1.82B |
| Revenue growth | — | +9% | +29% | -25% | — |
| Gross profit | $322M | $300M | $249M | $240M | $287M |
| EBITDA | $253M | $230M | $172M | $151M | $187M |
| Net income | $28.2M | $44.2M | $56.6M | $62.4M | $94.8M |
| Free cash flow | -$465M | -$436M | -$321M | -$622M | -$666M |
| Capital expenditure | $368M | $356M | $438M | $552M | $328M |
| Total debt | $2.02B | $1.95B | $1.70B | $1.55B | $938M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ameresco AMRC | $1.15B | -28% | +9% | 7% | 15.6× | n/a |
| Johnson Controls JCI | $81.8B | -3% | +9% | 16% | 21.3× | 17.8% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Trane Technologies TT | $87.9B | -14% | +10% | 18% | 23.4× | 14.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMRC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | -0.2% | 6th highest of 21 |
| 6-month return | -27.9% | -15.5% | 5th lowest of 21 |
| Distance from 52-week high | -43.1% | -32.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +8.9% | +6.1% | 8th highest of 21 |
| Operating margin | 6.8% | 6.4% | 11th highest of 21 |
| Forward P/E | 15.6× | 16.9× | 8th cheapest of 17 |
| ROIC minus cost of capital | -6.4 pp | -1.5 pp | 6th lowest of 19 |
| EV / EBITDA | 12.1× | 12.5× | 5th cheapest of 10 |
| Net debt / EBITDA | 7.1× | 0.7× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ameresco AMRC | United States | $1.15B | -28% | +9% | 7% | 15.6× | n/a | n/a |
| Instalco INSTAL.ST | Sweden | $1.15B | +9% | +9% | 5% | 18.4× | 10.9% | +13.8% |
| Techno Electric & Engineering TECHNOE.NS | India | $1.14B | -28% | +39% | 13% | 18.8× | n/a | n/a |
| Renew RNWH.L | United Kingdom | $1.15B | +19% | +8% | 6% | 15.3× | 7.7% | +11.7% |
| Shenzhen Zhongzhuang Construction 002822.SZ | China | $1.15B | -15% | -56% | -96% | n/a | n/a | n/a |
| Norconsult NORCO.OL | Norway | $1.14B | +2% | +13% | 7% | 15.7× | -5.9% | +10.6% |
| Jiangsu Zeyu Intelligent Electric Power 301179.SZ | China | $1.13B | -20% | +8% | 8% | 32.1× | 24.8% | +15.4% |
| China Bester Group Telecom 603220.SS | China | $1.17B | -48% | +3% | 6% | 20.0× | n/a | n/a |
| EPIC Suisse EPIC.SW | Switzerland | $1.17B | +2% | +4% | 78% | 20.8× | 7.1% | +4.3% |
| Decai Decoration 605287.SS | China | $1.12B | -3% | +17% | 5% | n/a | 25.3% | -5.4% |
| IPARK Hyundai Development 294870.KS | South Korea | $1.12B | +4% | -13% | 11% | 4.2× | n/a | n/a |
| GenusPlus GNP.AX | Australia | $1.18B | -12% | +71% | 6% | 18.1× | 6.2% | +32.1% |
| Norbit NORBT.OL | Norway | $1.12B | -28% | +34% | 22% | 21.1× | -5.3% | +32.2% |
| Tianjin Capital Environmental Protection 600874.SS | China | $1.21B | -9% | -3% | 29% | 9.6× | -15.4% | +7.3% |
| thyssenkrupp nucera AG & Co. KGaA NCH2.DE | Germany | $1.09B | -13% | -42% | -13% | n/a | n/a | n/a |
| IRCON International IRCON.NS | India | $1.08B | -33% | -3% | 7% | 15.4× | n/a | n/a |
| Chiyoda 6366.T | Japan | $1.07B | -35% | +16% | 17% | 6.7× | n/a | n/a |
| Xinjiang Communications Construction 002941.SZ | China | $1.22B | -20% | +23% | 5% | n/a | n/a | n/a |
| Lendlease LLC.AX | Australia | $1.23B | -16% | -30% | 0% | 147.4× | n/a | n/a |
| Anhui Construction Engineering 600502.SS | China | $1.07B | -23% | -4% | 6% | 4.6× | n/a | n/a |
| Toa Corporation (Construction) 1885.T | Japan | $1.06B | -29% | +2% | 7% | 9.1× | -12.2% | +13.6% |
Ameresco reported $3.82B of remaining performance obligations at 30 Jun 2026, up 2% from a year earlier and down 5% from the previous quarter. Book-to-bill last quarter: 0.57.