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.
Net new backlog added in the latest quarter: $454M.
Over the last twelve months it turned about 228% of its opening backlog into revenue (12-month conversion).
82% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 12.8% of the backlog.
Twelve-month book-to-bill: 1.38, i.e. 1.38 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +94 points — orders are running ahead of revenue.
By backlog size it ranks 154th among US filers the cockpit tracks.
IES backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2026
$2.80B
$3.99B
0.7 yrs
$358M
31 Mar 2026
$2.35B
$3.63B
0.6 yrs
$286M
31 Dec 2025
$1.81B
$3.49B
0.5 yrs
$213M
30 Sep 2025
$1.69B
$3.37B
0.5 yrs
$177M
30 Jun 2025
$1.30B
$3.25B
0.4 yrs
$155M
31 Mar 2025
$1.23B
$3.13B
0.4 yrs
$164M
31 Dec 2024
$1.21B
$3.00B
0.4 yrs
$170M
30 Sep 2024
$1.18B
$2.88B
0.4 yrs
$159M
30 Jun 2024
$1.18B
$2.76B
0.4 yrs
$139M
31 Mar 2024
$1.07B
$2.57B
0.4 yrs
$128M
31 Dec 2023
$1.07B
$2.44B
0.4 yrs
$127M
30 Sep 2023
$1.14B
$2.38B
0.5 yrs
$104M
Questions
What is IES's backlog?
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.
How fast does IES's backlog turn into revenue?
Over the last twelve months IES recognised revenue equal to about 228% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.