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EME (EMCOR Group) Piotroski F-Score : 6 (As of Jul. 12, 2025)


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What is EMCOR Group Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

EMCOR Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for EMCOR Group's Piotroski F-Score or its related term are showing as below:

EME' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of EMCOR Group was 9. The lowest was 5. And the median was 7.


EMCOR Group Piotroski F-Score Historical Data

The historical data trend for EMCOR Group's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

EMCOR Group Piotroski F-Score Chart

EMCOR Group Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 6.00 9.00 8.00

EMCOR Group Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 8.00 9.00 8.00 6.00

Competitive Comparison of EMCOR Group's Piotroski F-Score

For the Engineering & Construction subindustry, EMCOR Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


EMCOR Group's Piotroski F-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, EMCOR Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where EMCOR Group's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 247.572 + 270.263 + 292.161 + 240.677 = $1,051 Mil.
Cash Flow from Operations was 279.694 + 526.444 + 469.492 + 108.471 = $1,384 Mil.
Revenue was 3666.897 + 3696.924 + 3770.019 + 3867.372 = $15,001 Mil.
Gross Profit was 684.001 + 734.726 + 757.015 + 722.718 = $2,898 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(6687.327 + 7072.549 + 7321.952 + 7716.473 + 8078.872) / 5 = $7375.4346 Mil.
Total Assets at the begining of this year (Mar24) was $6,687 Mil.
Long-Term Debt & Capital Lease Obligation was $548 Mil.
Total Current Assets was $4,911 Mil.
Total Current Liabilities was $4,222 Mil.
Net Income was 140.595 + 169.409 + 211.517 + 197.149 = $719 Mil.

Revenue was 3045.622 + 3207.598 + 3439.221 + 3432.276 = $13,125 Mil.
Gross Profit was 490.06 + 545.472 + 617.745 + 589.309 = $2,243 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(5640.91 + 5907.669 + 6224.193 + 6609.721 + 6687.327) / 5 = $6213.964 Mil.
Total Assets at the begining of last year (Mar23) was $5,641 Mil.
Long-Term Debt & Capital Lease Obligation was $270 Mil.
Total Current Assets was $4,508 Mil.
Total Current Liabilities was $3,431 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

EMCOR Group's current Net Income (TTM) was 1,051. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

EMCOR Group's current Cash Flow from Operations (TTM) was 1,384. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=1050.673/6687.327
=0.15711405

ROA (Last Year)=Net Income/Total Assets (Mar23)
=718.67/5640.91
=0.1274032

EMCOR Group's return on assets of this year was 0.15711405. EMCOR Group's return on assets of last year was 0.1274032. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

EMCOR Group's current Net Income (TTM) was 1,051. EMCOR Group's current Cash Flow from Operations (TTM) was 1,384. ==> 1,384 > 1,051 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=547.856/7375.4346
=0.07428118

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=269.799/6213.964
=0.04341818

EMCOR Group's gearing of this year was 0.07428118. EMCOR Group's gearing of last year was 0.04341818. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=4910.984/4222.262
=1.16311683

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=4508.129/3431.485
=1.31375454

EMCOR Group's current ratio of this year was 1.16311683. EMCOR Group's current ratio of last year was 1.31375454. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

EMCOR Group's number of shares in issue this year was 45.784. EMCOR Group's number of shares in issue last year was 47.316. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2898.46/15001.212
=0.19321505

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2242.586/13124.717
=0.17086738

EMCOR Group's gross margin of this year was 0.19321505. EMCOR Group's gross margin of last year was 0.17086738. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=15001.212/6687.327
=2.24322992

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=13124.717/5640.91
=2.32670207

EMCOR Group's asset turnover of this year was 2.24322992. EMCOR Group's asset turnover of last year was 2.32670207. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+0+1+1+0
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

EMCOR Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

EMCOR Group  (NYSE:EME) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


EMCOR Group Piotroski F-Score Related Terms

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EMCOR Group Business Description

Traded in Other Exchanges
Address
301 Merritt Seven, Norwalk, CT, USA, 06851-1092
EMCOR Group Inc is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services. Its services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. The company's operating subsidiaries are organized into reportable segments: United States mechanical construction and facilities services, which derives key revenue; United States electrical construction and facilities services; United States building services; United States industrial services; and United Kingdom building services. Geographically, its key revenue is derived from the United States.
Executives
Anthony Guzzi officer: President & COO 301 MERRITT SEVEN, 6TH FLOOR, NORWALK CT 06851
Robin A Walker-lee director C/O TRW AUTOMOTIVE, 12001 TECH CENTER DRIVE, LIVONIA MI 48150
Maxine Lum Mauricio officer: SVP and General Counsel 301 MERRITT SEVEN CORPORATE PARK, 6TH FL, C/O EMCOR GROUP INC., NORWALK CT 06851
John W Altmeyer director 946 HIGHMEADOW COURT, LANCASTER PA 17601
Carol P Lowe director 4311 BEULAH CHURCH ROAD, WEDDINGTON NC 28104
Jason R Nalbandian officer: SVP & Chief Accounting Officer 301 MERRITT SEVEN CORPORATE PARK, 6TH FL, C/O EMCOR GROUP, INC., NORWALK CT 06851
R Kevin Matz officer: SVP, Admin & Strategic Service 301 MERRITT SEVEN 6TH FLOOR, NORWALK CT 06851
Mark A Pompa officer: SVP, CAO & Treasurer 301 MERRITT SEVEN 6TH FLOOR, NORWALK CT 06851
Rebecca A Weyenberg director 1725 SHEPHERD RD, CHATTANOOGA TN 37421
M Kevin Mcevoy director C/O OCEANEERING INTERNATIONAL INC, 11911 FM 529, HOUSTON TX 77041-3011
William P Reid director 301 MERRITT SEVEN CORPORATE PARK, 6TH FL, C/O EMCOR GROUP, INC., NORWALK CT 06851
Hamm Richard F Jr director 6370 OXBOW BEND, CHANHASSEN MN 55317
Ronald L Johnson director 3344 PEACHTREE STREET NE, #3403, ATLANTA GA 30326
Brown David A B director
Jerry E Ryan director 3201 EAST 65TH, TULSA OK 74136