NYSE · Financial Statements

Comfort Systems USA, Inc. (FIX) Financial Statements

$1160.86 NYSE: FIX Market Cap $40.86B

Comfort Systems USA, Inc. most recently reported annual revenue of $9.1B, net profit of $1.0B. Revenue grew at an average annual rate of 26.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Comfort Systems USA, Inc.: Revenue rose from $1.6B in 2016 to $9.1B in 2025, a change of +457.0% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 6.2% to 14.4%, a shift of +8.2 percentage points; the most recent year shows net profit of $1.0B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.6B$1.8B$2.2B$2.6B$2.9B$3.1B$4.1B$5.2B$7.0B$9.1B
Operating Expenses$1.5B$1.7B$2.0B$2.5B$2.7B$2.9B$3.9B$4.8B$6.3B$7.8B
Operating Profit$102.0M$99.0M$150.0M$164.0M$191.0M$188.0M$254.0M$418.0M$749.0M$1.3B
Operating Margin6.2%5.5%6.9%6.3%6.7%6.1%6.1%8.0%10.7%14.4%
Other Income$-1.0M$2.0M$-2.0M$-12.0M$1.0M$2.0M$-18.0M$-30.0M$-83.0M$-19.0M
Interest$2.0M$3.0M$4.0M$9.0M$8.0M$6.0M$14.0M$10.0M$7.0M$9.0M
Depreciation$26.0M$37.0M$43.0M$52.0M$61.0M$69.0M$81.0M$82.0M$145.0M$142.0M
Profit Before Tax$101.0M$101.0M$149.0M$152.0M$192.0M$190.0M$236.0M$388.0M$667.0M$1.3B
Tax$35.8M$45.2M$24.1M$24.7M$21.6M$24.7M$-4.3M$16.7M$21.6M$20.9M
Net Profit$65.0M$55.0M$113.0M$114.0M$150.0M$143.0M$246.0M$323.0M$522.0M$1.0B
EPS$1.72$1.47$3.00$3.08$4.09$3.93$6.82$9.01$14.60$28.88
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$1.4B$1.4B$1.5B$1.8B$1.8B$1.9B$1.8B$2.2B$2.5B$2.6B$2.9B$3.3B
Operating Expenses$1.2B$1.2B$1.4B$1.6B$1.6B$1.6B$1.6B$1.9B$2.1B$2.2B$2.4B$2.7B
Operating Profit$135.0M$120.0M$135.0M$185.0M$203.0M$226.0M$209.0M$300.0M$379.0M$426.0M$485.0M$558.0M
Operating Margin9.8%8.9%8.8%10.2%11.2%12.1%11.4%13.8%15.5%16.1%16.9%17.1%
Interest$2.0M$0$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$3.0M$3.0M$2.0M$1.0M
Profit Before Tax$125.0M$112.0M$123.0M$170.0M$188.0M$186.0M$208.0M$296.0M$370.0M$418.0M$482.0M$566.0M
Tax$16.2M$18.0M$21.7M$21.0M$22.1M$21.6M$18.6M$22.1M$21.3M$20.9M$23.2M$22.0M
Net Profit$105.0M$92.0M$96.0M$134.0M$146.0M$146.0M$169.0M$231.0M$292.0M$331.0M$370.0M$442.0M
EPS$2.93$2.55$2.69$3.74$4.09$4.09$4.75$6.53$8.25$9.37$10.51$12.53

Over the 10 years reported for Comfort Systems USA, Inc., borrowings increased from $3.0M in 2016 to $786.0M in 2025, cash stood at $982.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.21 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$709.0M$881.0M$1.1B$1.5B$1.8B$2.2B$2.6B$3.3B$4.7B$6.4B
Current Assets$416.0M$489.0M$610.0M$790.0M$812.0M$1.0B$1.3B$1.9B$2.8B$4.1B
Cash$32.0M$37.0M$46.0M$51.0M$55.0M$59.0M$57.0M$205.0M$550.0M$982.0M
Inventory$9.0M$10.0M$12.0M$10.0M$13.0M$22.0M$35.0M$66.0M$59.0M$84.0M
Receivables$369.0M$434.0M$545.0M$715.0M$728.0M$923.0M$1.2B$1.6B$2.1B$2.9B
Fixed Assets$68.0M$88.0M$100.0M$194.0M$212.0M$253.0M$275.0M$414.0M$506.0M$711.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$0$0$0$3.0M$4.0M$7.0M$34.0M
Other Assets$149.0M$201.0M$235.0M$332.0M$464.0M$592.0M$612.0M$667.0M$875.0M$1.0B
Total Liabilities$332.0M$463.0M$565.0M$920.0M$1.1B$1.4B$1.6B$2.0B$3.0B$4.0B
Current Liabilities$318.0M$374.0M$467.0M$608.0M$693.0M$837.0M$1.2B$1.7B$2.6B$3.4B
Borrowings$3.0M$61.0M$77.0M$313.0M$333.0M$515.0M$389.0M$257.0M$309.0M$786.0M
Other Liabilities$329.0M$403.0M$488.0M$607.0M$728.0M$889.0M$1.2B$1.8B$2.7B$3.2B
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$377.0M$418.0M$498.0M$585.0M$696.0M$806.0M$1.0B$1.3B$1.7B$2.4B

For Comfort Systems USA, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.0B; free cash flow was positive in 10 of 10 years; financing activities used $276.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$91.0M$114.0M$147.0M$142.0M$287.0M$180.0M$302.0M$640.0M$849.0M$1.2B
Investing Cash Flow$-103.0M$-164.0M$-123.0M$-256.0M$-232.0M$-269.0M$-146.0M$-288.0M$-455.0M$-622.0M
Financing Cash Flow$-17.0M$-14.0M$-34.0M$-22.0M$-40.0M$-28.0M$-44.0M$-41.0M$-92.0M$-276.0M
Net Cash Flow$-24.0M$4.0M$9.0M$5.0M$4.0M$4.0M$-2.0M$148.0M$345.0M$432.0M
Free Cash Flow$68.0M$79.0M$120.0M$110.0M$262.0M$158.0M$253.0M$545.0M$738.0M$1.0B

Valuation & Return Ratios

MetricValue
PEG Ratio0.39
EV / EBITDA30.30
FCF Yield3.55%
Quick Ratio1.19
Interest Coverage196.66
Return 1Y41.00%
Return 3Y657.00%
Return 5Y1940.72%

Comfort Systems USA, Inc. (FIX) financials — frequently asked questions

What is Comfort Systems USA, Inc.'s annual revenue?

Comfort Systems USA, Inc. (FIX) reported annual revenue of $9.1B in its most recent fiscal year.

What is Comfort Systems USA, Inc.'s net profit?

Comfort Systems USA, Inc. (FIX) reported net profit of $1.0B in its most recent fiscal year.

What is FIX EV/EBITDA?

Comfort Systems USA, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 30.30.

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