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Comfort Systems USA, Inc.

Rank #307Op. LeverageWatchlistCompare with other stocks

FIX · NYSE · Industrials

Comfort Systems USA, Inc. (FIX) — Rank #307 by gross profitability (GP/assets 0.22) · ROE 30.7% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · 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.

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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

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

22,700

Industry

Engineering & Construction

Exchange

NYSE

12/12

Flags passed

FIX passes 12/12 quality flags

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.22
Return on equity
30.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.94
Current ratio
1.15×
Net cash
$2.11B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.2%

Growth

2/2 pass
Revenue growth
29.5%
Piotroski F-Score
7 / 9
Share dilution
-1.0%

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.22

Gross profitability (GP / assets)

0.22

Primary signal (Novy-Marx).

Return on equity

30.7%

Gross margin

24.1%

Revenue growth (YoY)

29.5%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
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%

Cash Flow Health

Is the cash real?

No warning flags · FCF 1% above net income

Free cash flow

$1.03B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

0.9%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.2%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $2.11B, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.94

Current ratio

1.15×

Quick ratio

1.01×

Net cash

$2.11B

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Dividend safety

Composite score

4.8 / 5

Strong
Payout ratio
6.7%5/5 Strong
FCF coverage
14.98×5/5 Strong
Dividend growth streak
10 yr5/5 Strong
Balance-sheet health
D/E 1.94 · IC 145.92×4/5 Strong

Capital allocation quality

Composite score

4.3 / 5

Strong
Share count trend(net buybacks)
-1.0%3/5 Good
Buyback timing
N/AN/A
Dividend growth consistency
10 yr5/5 Strong
Net debt trajectory(deleveraging)
5.5%5/5 Strong

Lifecycle Phase History

20202025
Capital Return
Hypergrowth
Op. Leverage

Price History

FIX+2242.2% · +87.4% CAGRSPY+83.9% · +12.9% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports