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Electrical and mechanical contractor serving residential, commercial and communications infrastructure customers.
Electrical and mechanical contractor serving residential, commercial and communications infrastructure customers.
Works for builders and building owners on contracts it prices up front, so profit depends on estimating jobs well and keeping crews busy. Residential electrical work follows homebuilders' starts, while communications and data-center work is project-based. Tontine, the fund firm of Chairman Jeffrey Gendell, has been a large shareholder.
Moat: narrow (scale, process know-how). Skilled electrical-labor scale and long homebuilder/commercial relationships.
Headquarters: Houston, Texas, US · Founded: 1974 · Employees: 10,283
Size IES (IESC) is a United States Industrials company (Engineering & Construction) with a market value of $6.38B, the 1017th largest of 3,117 United States companies the cockpit tracks. Shares closed at $685.04 on 6 Nov 2026.
Performance Over six months the shares gained 31.8%, against -10.4% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 22.7% over the last twelve months (peer median +10.0%); the operating margin is 12.4% (peer median 9.1%).
Valuation It trades at 12.6× forward earnings against a peer median of 14.0× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 27.9 points above its cost of capital (14.1% WACC).
Backlog Backlog (remaining performance obligations) was $2.80B at 30 Jun 2026, up 116% on a year earlier — 0.7 years of trailing revenue. Backlog detail →
Short interest Short interest is 3.7% of the free float (15 Oct 2026).
Next results Next results expected around 9 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.99B | $3.37B | $2.88B | $2.38B | $2.17B |
| Revenue growth | — | +17% | +21% | +10% | — |
| Gross profit | $990M | $817M | $659M | $415M | $293M |
| EBITDA | $551M | $427M | $337M | $175M | $81.7M |
| Net income | $454M | $303M | $202M | $92.6M | $30.0M |
| Free cash flow | $417M | $281M | $189M | $136M | -$13.0M |
| Capital expenditure | $143M | $67.3M | $45.2M | $17.7M | $29.3M |
| Total debt | $76.9M | $95.7M | $72.7M | $74.0M | $147M |
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 |
|---|---|---|---|---|---|---|
| IES IESC | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% |
| Comfort Systems USA FIX | $35.6B | -48% | +51% | 17% | 16.2× | 12.4% |
| Emcor EME | $26.6B | -34% | +22% | 10% | 15.5× | 6.2% |
| MYR MYRG | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% |
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 | IESC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | +0.5% | 7th highest of 21 |
| 6-month return | +31.8% | -10.4% | highest of 21 |
| Distance from 52-week high | -16.1% | -30.3% | 7th highest of 21 |
| Revenue growth (TTM) | +22.7% | +10.0% | 6th highest of 20 |
| Operating margin | 12.4% | 9.1% | 6th highest of 21 |
| Forward P/E | 12.6× | 14.0× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 11.2% | 1.4% | 4th most demanding of 17 |
| Growth delivered (Del g) | +22.9% | +7.2% | highest of 16 |
| Hurdle (Req g minus delivered) | -11.7 pp | -4.3 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +27.9 pp | +1.6 pp | highest of 17 |
| EV / EBITDA | 11.0× | 9.5× | 8th most expensive of 17 |
| Net debt / EBITDA | -0.6× | 0.4× | 7th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| Technip Energies TE.PA | France | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% | +4.6% |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| Metallurgical Corporation of China 601618.SS | China | $7.54B | -10% | -21% | -4% | 11.4× | -0.5% | +2.6% |
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |
| Kandenko 1942.T | Japan | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% | +5.9% |
| SOLV Energy MWH | United States | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% | n/a |
| CTF Services 0659.HK | Hong Kong | $5.13B | +2% | +12% | 11% | 13.8× | 1.7% | -0.8% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
IES reported $2.80B of remaining performance obligations at 30 Jun 2026, up 116% from a year earlier and up 19% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.37.