NMS · Financial Statements

CECO Environmental Corp. (CECO) Financial Statements

$57.49 NMS: CECO Market Cap $3.37B

CECO Environmental Corp. most recently reported annual revenue of $774.0M, net profit of $50.0M. Revenue grew at an average annual rate of 19.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

CECO Environmental Corp.: Revenue rose from $417.0M in 2016 to $774.0M in 2025, a change of +85.6% over 9 years; net profit was positive in 7 of 10 reported years; operating margin moved from -6.1% to 6.7%, a shift of +12.8 percentage points; the most recent year shows net profit of $50.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$417.0M$345.0M$337.0M$342.0M$316.0M$324.0M$423.0M$545.0M$558.0M$774.0M
Operating Expenses$443.0M$337.0M$327.0M$324.0M$303.0M$314.0M$400.0M$510.0M$523.0M$723.0M
Operating Profit$-26.0M$8.0M$10.0M$18.0M$13.0M$10.0M$22.0M$35.0M$35.0M$52.0M
Operating Margin-6.1%2.3%3.0%5.3%4.2%3.0%5.2%6.3%6.3%6.7%
Other Income$-7.0M$-7.0M$-8.0M$-5.0M$-2.0M$-5.0M$2.0M$-13.0M$-18.0M$31.0M
Interest$8.0M$7.0M$7.0M$5.0M$4.0M$3.0M$5.0M$13.0M$13.0M$21.0M
Depreciation$19.0M$16.0M$13.0M$11.0M$10.0M$10.0M$11.0M$13.0M$15.0M$25.0M
Profit Before Tax$-33.0M$1.0M$2.0M$13.0M$12.0M$5.0M$24.0M$22.0M$18.0M$83.0M
Tax$-16.1M$315.0M$385.2M$-32.7M$31.0M$57.6M$22.9M$32.6M$18.5M$35.9M
Net Profit$-38.0M$-3.0M$-7.0M$18.0M$8.0M$1.0M$17.0M$13.0M$13.0M$50.0M
EPS$-1.12$-0.09$-0.21$0.50$0.23$0.04$0.50$0.37$0.36$1.37
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$149.0M$154.0M$126.0M$138.0M$136.0M$159.0M$177.0M$185.0M$198.0M$215.0M$215.0M$285.0M
Operating Expenses$142.0M$140.0M$119.0M$128.0M$128.0M$147.0M$115.0M$167.0M$188.0M$197.0M$198.0M$318.0M
Operating Profit$8.0M$14.0M$8.0M$9.0M$7.0M$11.0M$62.0M$18.0M$9.0M$18.0M$17.0M$-33.0M
Operating Margin5.3%9.2%6.1%6.7%5.3%7.1%35.0%9.7%4.8%8.2%7.7%-11.6%
Interest$3.0M$4.0M$3.0M$3.0M$3.0M$4.0M$6.0M$5.0M$5.0M$5.0M$5.0M$9.0M
Profit Before Tax$4.0M$10.0M$3.0M$5.0M$4.0M$5.0M$55.0M$15.0M$2.0M$11.0M$11.0M$-45.0M
Tax$13.6M$55.7M$24.2M$7.4M$38.7M$11.1M$33.8M$30.9M$21.1M$56.3M$56.3M$22.6M
Net Profit$3.0M$4.0M$2.0M$4.0M$2.0M$5.0M$36.0M$10.0M$1.0M$3.0M$3.0M$-35.0M
EPS$0.09$0.11$0.04$0.12$0.06$0.13$0.98$0.26$0.04$0.08$0.08$-0.80

Over the 10 years reported for CECO Environmental Corp., borrowings decreased from $128.0M in 2016 to $25.0M in 2025, cash stood at $33.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.34 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$499.0M$439.0M$393.0M$414.0M$429.0M$416.0M$505.0M$600.0M$760.0M$894.0M
Current Assets$213.0M$174.0M$161.0M$179.0M$183.0M$189.0M$241.0M$281.0M$331.0M$410.0M
Cash$46.0M$30.0M$44.0M$37.0M$38.0M$30.0M$46.0M$55.0M$38.0M$33.0M
Inventory$21.0M$21.0M$21.0M$21.0M$17.0M$17.0M$27.0M$34.0M$43.0M$54.0M
Receivables$121.0M$102.0M$83.0M$103.0M$109.0M$126.0M$154.0M$179.0M$229.0M$289.0M
Fixed Assets$27.0M$23.0M$22.0M$29.0M$28.0M$27.0M$32.0M$42.0M$59.0M$76.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$1.0M$0$0$0$0$0$0$0
Other Assets$170.0M$167.0M$152.0M$152.0M$162.0M$161.0M$183.0M$211.0M$270.0M$288.0M
Total Liabilities$309.0M$252.0M$214.0M$221.0M$226.0M$210.0M$287.0M$363.0M$508.0M$571.0M
Current Liabilities$146.0M$108.0M$104.0M$115.0M$109.0M$117.0M$147.0M$203.0M$245.0M$306.0M
Borrowings$128.0M$120.0M$76.0M$87.0M$92.0M$76.0M$124.0M$155.0M$250.0M$25.0M
Other Liabilities$180.0M$132.0M$138.0M$134.0M$134.0M$135.0M$163.0M$207.0M$258.0M$546.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$190.0M$187.0M$179.0M$193.0M$203.0M$205.0M$213.0M$233.0M$248.0M$318.0M

For CECO Environmental Corp., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $5.0M; free cash flow was positive in 8 of 10 years; financing activities used $4.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$70.0M$7.0M$22.0M$10.0M$4.0M$13.0M$30.0M$45.0M$25.0M$6.0M
Investing Cash Flow$-1.0M$-1.0M$35.0M$-11.0M$-13.0M$-5.0M$-52.0M$-65.0M$-123.0M$-12.0M
Financing Cash Flow$-8.0M$-7.0M$0$-1.0M$0$-7.0M$-8.0M$-5.0M$-16.0M$-4.0M
Net Cash Flow$12.0M$-16.0M$14.0M$-7.0M$1.0M$-6.0M$15.0M$9.0M$-17.0M$-5.0M
Free Cash Flow$69.0M$6.0M$19.0M$5.0M$0$11.0M$26.0M$36.0M$7.0M$-5.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.87
EV / EBITDA271.37
FCF Yield-0.28%
Quick Ratio1.18
Interest Coverage0.44
Return 1Y49.22%
Return 3Y431.02%
Return 5Y861.59%

CECO Environmental Corp. (CECO) financials — frequently asked questions

What is CECO Environmental Corp.'s annual revenue?

CECO Environmental Corp. (CECO) reported annual revenue of $774.0M in its most recent fiscal year.

What is CECO Environmental Corp.'s net profit?

CECO Environmental Corp. (CECO) reported net profit of $50.0M in its most recent fiscal year.

What is CECO EV/EBITDA?

CECO Environmental Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is 271.37.

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