Comfort Systems USA, Inc.

Comfort Systems USA, Inc.

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Market Cap$60.88B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Comfort Systems USA, Inc.Comfort Systems USA, Inc.42.50.15%45%5.41.1

Earnings Call Q2 2026

July 24, 2026 - AI Summary

Blowout results & operating leverage (what’s good) - Q2 2026 revenue: $3.3B, up +$1.1B YoY. - Same-store revenue growth: +44% (core demand/retention strength). - EPS: $12.53, +92% YoY (vs. $6.53 prior year). - Margins improved materially: Gross margin ~25.9% (vs. 23.5% YoY). Mechanical margin jumped to 25.6% (vs. 22.9%); Electrical margin to 26.4% (vs. 25.3%). - Operating income: $558M, +86% YoY; operating margin 17.1% vs 13.8%. - Cash flow: ~$999M free cash flow in the quarter; EBITDA $600M (+80% YoY).
Backlog & bookings strength—new highs (what’s good / surprising) - Backlog: $14.1B, record high, up +73% YoY (same-store increase +$5.6B). - Bookings trending up and momentum is strongest in Technology (including both Construction and Modular). - Timing/outlook for next quarters: Entered Q3 with same-store backlog +69% vs. last year; company expects increased sequential and YoY backlog into 2H 2026. - Modular bookings noted: $510M modular bookings in Q2, adding ~+$500M net modular backlog on top of burn (signals continued demand outpacing capacity).
Full-year forecast & “exit rate” caution (expectations / what investors should watch) - 2026 same-store revenue guidance: mid- to high 30% range (implies still very strong 2H). - CFO/management emphasized growth will remain strong but Q4 comparables are very heavy, so the “exit rate” will be different than what was seen earlier in the year. - CapEx expectation: ~5% of revenue for 2026 (supports capacity expansion; see modular build-out below). - Tax: full-year effective tax rate expected around ~23% (benefited by discrete item in Q2).

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$2054.50

Target Price by Analysts

18.8% upsideComfort Systems USA Target Price DetailsTarget Price
$1480.85

Current Fair Value

14.4% downside

Overvalued by 14.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$60.88 Billion
Enterprise Value$62.58 Billion
Dividend Yield$2.60 (0.15%)
Earnings per Share$28.93
Beta1.66
Outstanding Shares35,221,000

Return

Return on Equity44.58%ROE
Return on Assets16.90%
Return on Invested Capital47.89%

Valuation & Multiples

P/E Ratio42.5P/E Ratio
PEG46.55PEG
Price to Sales5.44Price to Sales
Price to Book Ratio19.01Price to Book Ratio
Enterprise Value to Revenue5.57
Enterprise Value to EBIT35.14
Enterprise Value to Net Income43
Total Debt to Enterprise0.06
Debt to Equity1.11Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$10.45
Average shareholder expectation
Revenue Estimate
$2.99 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 22, 2026
EPS Estimate
$12.79
Average shareholder expectation
Revenue Estimate
$3.39 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 143.67%
Total Calls100▼ 99.98%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.24%▼ 87.98%
Total Invested$2.96B▼ 93.37%
Investors Holding527▼ 704.00%

ESG Score

No data

About Comfort Systems USA, Inc.

CEO: Brian Lane

Relevant Senate Committees

Finance

Controlling taxation and trade policy, this committee directly impacts corporate profitability through tax rates and indirectly affects material costs through trade tariffs, significantly influencing Comfort Systems USA's financial performance.

Appropriations

This committee directly allocates discretionary federal spending, determining the precise funding for various federal projects (defense, infrastructure, etc.) that Comfort Systems USA bids on, directly impacting its order books.

Health, Education, Labor, and Pensions

Regulations concerning labor laws (e.g., wages, unions, safety) directly impact operational costs for construction companies. Funding and oversight for health and education facilities also create project opportunities.

Armed Services

Overseeing the Department of Defense and authorizing the NDAA, this committee directly determines funding for military facilities and infrastructure, creating significant revenue streams for contractors like Comfort Systems USA.

Banking, Housing, and Urban Affairs

This committee regulates real estate markets and housing and urban development (HUD), directly influencing the demand for new construction and renovation projects where Comfort Systems USA operates.

Veterans' Affairs

Funding decisions for Department of Veterans Affairs facilities directly impact government healthcare contractors, creating significant opportunities for electrical contractors like Comfort Systems USA.

Environment and Public Works

This committee drives infrastructure spending and regulates environmental aspects relevant to construction, directly benefiting construction and materials firms like Comfort Systems USA.

Homeland Security and Governmental Affairs

This committee regulates government procurement and federal contracting, directly impacting electrical contractors like Comfort Systems USA that bid on federal projects.