Comfort Systems Usa Inc (FIX)
Industrials · Construction & Engineering · US stock · S&P 500 component
$1,279.37
▼ -121.90 (8.70%)
Fair valueOvervalued
$800 −37.4% to fair value
$400fair band $681–$970$1,201
Day's range
$1,260.81 – $1,358.73
52-week range
$770.47 – $2,073.99
About Comfort Systems Usa Inc
Comfort Systems USA provides mechanical, electrical and plumbing contracting services, including the installation and maintenance of heating, cooling, ventilation and related systems. Its subsidiaries work on commercial, industrial and institutional buildings such as data centres, hospitals, factories and offices. Revenue comes from construction projects, which are recorded as work progresses, and from recurring service contracts, so backlog and project timing affect reported results.
Trailing twelve-month revenue stands at $4.0 billion, while revenue fell by 23.8% a year over the past three years. Return on invested capital is 30%, alongside an operating margin of 18.8%. Net debt to EBITDA sits at -2.0 times, a sign of more cash than debt. The company pays a dividend, and the yield is 0.2%. On the X-Ray Score, it is rated 52 out of 100. Taken together, these numbers give a factual snapshot of the business.
Price chart
52-wk range $770.47 – $2,073.99Volume 862,792Daily, split-adjusted
Vitals
Market cap$45.1B
52-week range$770.47 – $2,073.99
Volume (last day)862,792
P/E (TTM)31.5
EBIT / EV yield1.7%
Free-cash-flow yield4.8%
Dividend yield0.2%
Revenue (TTM)$4.0B
Net income (TTM)$1.4B
Operating margin18.8%
Return on capital30.1%
Debt incl. leases$370M
Cash & securities$1.9B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$800middle half of models $651 – $843
Overvalued
−37.4% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $1,279
Undervalued < $681Fair $681 – $970Overvalued > $970
P/E multiple
$1,238
P/B multiple
$852
P/S multiple
$614
EV/EBITDA multiple
$979
EV/EBIT multiple
$816
EV/revenue multiple
$799
10-year DCF, EBITDA exit
$583
5-year DCF, EBITDA exit
$772
10-year DCF, revenue exit
$590
5-year DCF, revenue exit
$759
10-year DCF, growth exit · not used
$175
5-year DCF, growth exit · not used
$206
Dividend discount, stable · not used
$66
Dividend discount, multi-stage · not used
$68
Earnings power value · not used
$282
Growth the price implies
40.2%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
21/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield1.7%
Free-cash-flow yield4.8%
Fair value vs price0.6×
Growth
Weak
50/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-23.8%
EPS growth (3y)61.8%
Growth consistency90%
Profitability
Fair
61/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital30.1%
Operating margin18.8%
Gross profitability12.8%
Financial health
Strong
74/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA-2.0×
Interest coverNo interest cost
Dividends
Fair
67/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.2%
Dividends vs free cash flow5%
Dividend growth50.8%
Quarterly results: last 6 quarters
+19.1%
Mar '25
+20.1%
Jun '25
+35.2%
Sep '25
-347.6%
Dec '25
+56.5%
Mar '26
+50.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.3B, diluted EPS $12.53.
Compare with peers
EME EMCOR Group, Inc.69 PWR Quanta Services, Inc.45 J Jacobs Solutions Inc.42Other Construction & Engineering companies by X-Ray Score.
SWOT analysis: Comfort Systems Usa Inc
Strengthsinside the company
- Return on invested capital is 30.1%, against a median of 10.3% for industry peers.
- Operating margin of 18.8% is well above the 6.2% median of industry peers, a sign of pricing power or lower costs.
- Earnings per share have compounded at 61.8% a year over three years.
- Cash exceeds debt (net debt is negative), which gives room to invest or ride out a downturn.
Weaknessesinside the company
- Revenue has fallen 23.8% a year over three years while industry peers grew 15.3%.
Opportunitiesvaluation and setting
- Trades at 31.4x earnings, 39% below the 51.4x median of industry peers.
Threatsvaluation and setting
- Revenue growth slowed to -73.9% last year from -23.8% a year over three years.
- The price is 37% above our fair value estimate, so there is little room for disappointment.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare FIX with peers and sector
Medians of 3 Construction & Engineering peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): PWR 45, EME 69, J 42.
| Metric | FIX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 52 | 45 | 50 |
| Valuation | 21 | 42 | 48 |
| Growth | 50 | 88 | 51 |
| Profitability | 61 | 46 | 50 |
| Financial health | 74 | 31 | 49 |
| Dividends | 67 | 53 | 53 |
Sector leaders: highest X-Ray Score in Industrials
FIX ranks #37 of 81 in Industrials and #2 of 4 in Construction & Engineering by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for FIX
Each factor is rated by where FIX stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 13 Good · 3 Average · 6 Bad of 22
Growth: 1 · 0 · 2
Profitability: 3 · 1 · 1
Financial strength: 3 · 1 · 0
Valuation: 1 · 1 · 3
Cash flow: 4 · 0 · 0
Efficiency: 1 · 0 · 0
| Factor | FIX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | −23.8% | Bad beats 1% | +5.6% | – | – |
| Revenue growth, last year | −73.9% | Bad beats 1% | +4.5% | +25.8% | ▼ Worse |
| EPS growth, 3 years a year | +61.8% | Good beats 97% | +5.7% | – | – |
| Profitability | |||||
| Gross margin | 27.5% | Bad beats 20% | 38.0% | 19.0% | ▲ Better |
| Operating margin | 18.8% | Average beats 64% | 17.5% | 8.0% | ▲ Better |
| Net margin | 36.2% | Good beats 99% | 12.8% | 6.2% | ▲ Better |
| Return on invested capital | 30.1% | Good beats 82% | 14.9% | – | – |
| Return on equity | 44.6% | Good beats 86% | 23.7% | 25.3% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | -2.0x | Good beats 98% | 1.8x | -0.4x | ▲ Better |
| Interest cover | 79.1x | Good beats 98% | 21.4x | 30.4x | ▲ Better |
| Current ratio | 1.21 | Average beats 44% | 1.25 | 1.12 | ≈ In line |
| Piotroski F-score | 7 / 9 | Good beats 68% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 31.4x | Average beats 40% | 28.9x | 25.2x | ▼ Worse |
| Price / book | 14.0x | Bad beats 18% | 6.2x | 5.8x | ▼ Worse |
| Price / sales | 11.4x | Bad beats 2% | 3.5x | 1.4x | ▼ Worse |
| EV / EBITDA | 58.6x | Bad beats 4% | 18.5x | 18.2x | ▼ Worse |
| Free cash flow yield | 4.8% | Good beats 70% | 3.8% | 4.9% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 54.6% | Good beats 99% | 13.8% | 10.5% | ▲ Better |
| Cash from operations / net income | 1.78 | Good beats 76% | 1.39 | 1.26 | ▲ Better |
| Free cash flow growth, 3 years a year | +59.7% | Good beats 96% | +14.5% | – | – |
| Accruals (lower is better) | −13.1% | Good beats 99% | −3.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 27.4x | Good beats 88% | 4.0x | 93.7x | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 8 Good · ● 4 Average · ● 4 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldGood
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Bad
Growth consistencyAverage
Balance sheet
Current ratioAverage
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 56/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $3.1B | $4.1B | $5.2B | $7.0B | $1.8B |
| Operating income | $188M | $254M | $418M | $749M | $209M |
| Net income | $143M | $246M | $323M | $522M | $1.0B |
| Operating cash flow | $180M | $302M | $640M | $849M | $1.2B |
| Operating margin | 6.1% | 6.1% | 8.0% | 10.7% | 11.4% |
| Free cash flow | $158M | $253M | $545M | $738M | $1.0B |
| Diluted EPS | $3.93 | $6.82 | $9.01 | $14.60 | $28.88 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
4 bullish · 0 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 1,498.4 | Bearish |
| EMA 10 | 1,470.1 | Bearish |
| SMA 20 | 1,600.6 | Bearish |
| EMA 20 | 1,543.4 | Bearish |
| SMA 50 | 1,619.5 | Bearish |
| EMA 50 | 1,613.6 | Bearish |
| SMA 100 | 1,708.8 | Bearish |
| EMA 100 | 1,635.8 | Bearish |
| SMA 200 | 1,597.5 | Bearish |
| EMA 200 | 1,524.3 | Bearish |
Oscillators (daily)
| RSI (14) | 25.32 | Bullish |
| MACD (12, 26) | -73.86 | Bearish |
| Momentum (12) | -29.63 | Bearish |
| Stochastic %K (14) | 3.23 | Bullish |
| Williams %R (14) | -96.77 | Bullish |
| CCI (20) | -175.2 | Bullish |
Pivot points (classic, last session)
S3 1,142.6 | S2 1,201.7 | S1 1,240.5 | Pivot 1,299.6 | R1 1,338.5 | R2 1,397.6 | R3 1,436.4 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.00 USD
Yield on today's price
0.23%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.9000 | |
| 0.8000 | |
| 0.7000 | |
| 0.6000 | |
| 0.5000 | |
| 0.4500 | |
| 0.4000 | |
| 0.3500 | |
| 0.3000 | |
| 0.3000 | |
| 0.2500 | |
| 0.2500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold FIX
| ETF | Share of the fund |
|---|---|
| ULTY YieldMax Ultra Option Income Strategy | 4.67% |
| AIRR First Trust RBA American Industrial Re... | 4.42% |
| RPG Invesco S&P 500 Pure Growth | 3.34% |
| IFRA iShares U.S. Infrastructure | 2.42% |
| IWP iShares Russell Mid-Cap Growth | 1.89% |
| CGMM Capital Group U.S. Small and Mid Cap | 1.79% |
| VOT Vanguard Mid-Cap Growth | 1.53% |
| QGRO American Century U.S. Quality Growth | 1.52% |
The eight funds with the largest weight in FIX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
FIX SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Other events
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Other events
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.