# Emcor (EME) Forecast Calculator

Interactive five-year financial forecast and DCF for Emcor. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/emcor/forecast
- Industry: Industrials
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 9174611000 | 307268000 | 504837000 | 325140000 |
| 2022 | 8797061000 | 758397000 | 303555000 | 132943000 |
| 2023 | 9903580000 | 282625000 | 579147000 | 383532000 |
| 2024 | 11076120000 | 448644000 | 612173000 | 406122000 |
| 2025 | 12582873000 | 821251000 | 927578000 | 632994000 |

## Frequently asked questions

### What services does Emcor Group Inc. provide?

Emcor Group, Inc. is a leading specialty contractor in the United States, offering electrical and mechanical construction, industrial and energy infrastructure, and building services. The company designs, installs, operates, and maintains complex systems like HVAC, electrical, and plumbing for commercial, industrial, healthcare, and institutional clients.

### How does Emcor generate its revenue?

Emcor generates revenue through its four primary ongoing segments: US Electrical Construction, US Mechanical Construction, US Building Services, and US Industrial Services. Revenue growth is driven by the conversion of remaining performance obligations (backlog) and benefits from secular tailwinds such as data center construction.

### What is Emcor's capital expenditure strategy?

Emcor operates an asset-light business model, with capital expenditures typically ranging from 0.5% to 1.0% of revenue. These expenditures are almost entirely for maintenance, focusing on replacing vehicle fleets, IT systems, and tools rather than major construction.

### What is the primary purpose of the Emcor financial model?

The Emcor financial model serves as a comprehensive equity valuation and scenario planning tool for analysts. It enables forecasting of earnings and cash flow based on factors like backlog conversion, segment-level margin sustainability, and capital allocation strategies.

### Is a downloadable financial model available for Emcor?

Yes, an Excel-based financial model for Emcor is available for download. This model provides a detailed framework for analysts to perform their own forecasts and scenario planning for the company's financial performance.

### How do acquisitions affect Emcor's balance sheet?

Acquisitions significantly impact Emcor's balance sheet, with goodwill and identifiable intangible assets often representing a large portion of total assets. The company is a serial acquirer, frequently executing bolt-on deals and occasional transformational acquisitions.