Comfort Systems USA, Inc.
Rank #271Op. LeverageFIX · NYSE · Industrials
Comfort Systems USA, Inc. (FIX) — Rank #271 by gross profitability (GP/assets 0.26) · ROE 31.8% · Piotroski F-Score 7 / 9.
As-of 2026-09-15 · CIK 0001035983 · all metrics point-in-time as of the filing date.
About
Comfort Systems USA, Inc., together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States.
Show moreShow less
The company operates through two segments: Mechanical and Electrical. It offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection. The company is also involved in the design, engineering, integration, installation, and start-up of mechanical, electrical, and plumbing (MEP) and related systems in new buildings; and renovation, expansion, maintenance, monitoring, repair, and replacement of systems in existing buildings. In addition, it provides remote monitoring of power usage, temperature, pressure, humidity and air flow for MEP and other building systems. The company serves building owners and developers, general contractors, architects, consulting engineers, and property managers in the commercial, industrial, and institutional markets. Comfort Systems USA, Inc.
was founded in 1917 and is headquartered in Houston, Texas.
- Industry
- Engineering & Construction
- Sector
- Industrials
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- comfortsystemsusa.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$55.58B
P/E (annual)
54.7
P/S (annual)
6.1
P/B
17.3
P/OCF (annual)
46.8
Shareholder Yield
1.1%
Employees
22,700
Industry
Engineering & Construction
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 3/5 Terry Smith thresholdsWhat Growth Is Priced In
Implied revenue growth (10Y)
21.3%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -1.0% — per-share value needs a total required return of 20.3% once share-count change is priced in.
vs. own 6-year median revenue growth: 27.6%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
16.2%
r = 10% (base)
21.3%
r = 12%
25.7%
Net debt / market cap: -3.2%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Operating margin expansion and free cash flow are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.26
Primary signal (Novy-Marx).
Return on equity
31.8%
Gross margin
24.1%
Revenue growth (YoY)
29.5%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
30.0%
Revenue CAGR (5Y)
26.1%
Earnings CAGR (3Y)
60.8%
FCF CAGR (3Y)
59.7%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.64
Current ratio
1.21×
Quick ratio
1.08×
Net cash
$1.80B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$1.03B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.01
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.2%
Stock-based comp intensity.
Dividend safety
Composite score
4.8 / 5
Piotroski F-Score
F-Score
7 / 9
Fundamental-strength score (0-9).