AMRC - Ameresco, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$41.80
DETAILS
HIGH:
$50.00
LOW:
$36.00
MEDIAN:
$40.00
CONSENSUS:
$41.80
UPSIDE:
31.57%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||
| Revenue | 1,932.1 | 1,769.9 | 1,374.6 | 1,824.4 | 1,215.7 | 1,032.3 | 866.9 | 787.1 | 717.2 | 651.2 | 630.8 | 593.2 | 574.2 | 631.2 | 728.2 | 618.2 | 428.5 | 395.9 |
| Cost of Revenue | 1,628.1 | 1,513.8 | 1,128.2 | 1,533.6 | 985.3 | 844.7 | 698.8 | 613.5 | 573.0 | 516.9 | 513.8 | 476.3 | 470.8 | 503.0 | 593.2 | 507.5 | 348.8 | 318.6 |
| Gross Profit | 304.0 | 256.1 | 246.4 | 290.8 | 230.4 | 187.5 | 168.1 | 173.6 | 144.2 | 134.3 | 117.1 | 116.9 | 103.3 | 128.1 | 135.0 | 110.7 | 79.7 | 77.3 |
| Operating Expenses | ||||||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.1 | 0.2 | 0.5 | 0.5 | 0.5 | 16.6 | 18.3 | 13.7 | 9.6 | 13.1 |
| SG&A Expenses | 178.5 | 173.8 | 162.1 | 159.5 | 132.9 | 116.0 | 116.5 | 114.5 | 107.6 | 110.6 | 110.0 | 103.8 | 96.7 | 81.8 | 66.1 | 51.0 | 44.8 | 39.5 |
| Other Expenses | (3.1) | (26.4) | 2.1 | (1.6) | 2.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 175.5 | 147.3 | 164.2 | 157.8 | 134.9 | 116.0 | 116.5 | 114.5 | 107.6 | 110.6 | 110.0 | 103.8 | 96.7 | 98.5 | 84.4 | 64.7 | 54.4 | 52.6 |
| Operating Income | ||||||||||||||||||
| Operating Income | 128.6 | 108.7 | 82.2 | 133.0 | 95.4 | 71.5 | 51.6 | 59.1 | 36.6 | 23.8 | 7.1 | 13.2 | 6.6 | 28.7 | 50.7 | 46.0 | 25.3 | 24.7 |
| Interest Expense | 87.9 | 71.7 | 46.2 | 30.6 | 17.2 | 18.1 | 16.1 | 15.0 | 9.2 | 6.5 | 3.7 | 5.9 | 3.9 | 4.1 | 3.0 | 4.9 | 3.0 | 2.1 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0 | 0 | 0 |
| Profitability | ||||||||||||||||||
| EBITDA | 237.2 | 194.8 | 150.4 | 190.6 | 141.9 | 116.6 | 92.1 | 89.6 | 62.1 | 48.5 | 31.4 | 36.0 | 27.1 | 48.0 | 64.7 | 57.4 | 31.9 | 25.6 |
| EBIT | 132.9 | 105.6 | 84.5 | 136.4 | 95.4 | 74.5 | 52.6 | 57.4 | 37.4 | 23.8 | 7.1 | 13.2 | 8.1 | 28.7 | 50.7 | 46.0 | 30.1 | 21.6 |
| Income Before Tax | 45.0 | 33.9 | 38.3 | 105.7 | 78.1 | 56.4 | 36.6 | 42.4 | 28.7 | 16.4 | 0.3 | 6.3 | 2.8 | 24.6 | 45.5 | 40.9 | 26.9 | 19.5 |
| Income Tax Expense | (11.7) | (20) | (25.6) | 7.2 | (2.0) | (0.5) | (3.7) | 4.8 | (4.8) | 4.4 | 2.8 | (4.1) | 0.3 | 6.2 | 10.8 | 12.2 | 6.9 | 1.2 |
| Net Income | 44.3 | 56.8 | 62.5 | 94.9 | 70.5 | 54.1 | 44.4 | 38.0 | 37.5 | 12.0 | 3.0 | 10.4 | 2.4 | 18.4 | 34.7 | 28.7 | 19.9 | 18.3 |
| Per Share Data | ||||||||||||||||||
| EPS (Basic) | 0.84 | 1.08 | 1.20 | 1.83 | 1.38 | 1.13 | 0.95 | 0.83 | 0.82 | 0.26 | 0.02 | 0.22 | 0.05 | 0.41 | 0.78 | 0.70 | 1.99 | 1.35 |
| EPS (Diluted) | 0.83 | 1.07 | 1.17 | 1.78 | 1.35 | 1.10 | 0.93 | 0.81 | 0.82 | 0.26 | 0.02 | 0.22 | 0.05 | 0.40 | 0.75 | 0.69 | 0.61 | 0.48 |
| Shares Outstanding | 52.7 | 52.4 | 52.1 | 51.8 | 50.9 | 47.7 | 46.6 | 45.7 | 45.5 | 46.4 | 46.5 | 46.2 | 45.6 | 44.6 | 42.6 | 41.3 | 10.0 | 13.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||
| Cash & Cash Equivalents | 71.8 | 108.5 | 79.3 | 115.5 | 50.5 | 66.4 | 33.2 | 61.4 | 24.3 | 20.6 | 47.9 | 18.1 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 257.9 | 942.6 | 829.1 | 796.2 | 516.5 | 341.2 | 315.1 | 191.6 | 213.5 | 160.1 | 70.5 | 62.0 |
| Inventory | 12.6 | 11.6 | 13.6 | 14.2 | 8.8 | 8.6 | 9.2 | 7.8 | 8.1 | 12.1 | 4.2 | 7.5 |
| Other Current Assets | 1,210.3 | 238.5 | 206.4 | 75.4 | 37.5 | 47.7 | 40.5 | 38.6 | 27.1 | 21.5 | 41.0 | 20.0 |
| Total Current Assets | 1,552.5 | 1,301.1 | 1,128.5 | 1,001.4 | 638.6 | 490.7 | 425.2 | 311.0 | 287.1 | 226.1 | 171.8 | 131.4 |
| Non-Current Assets | ||||||||||||
| Property, Plant & Equipment | 86.2 | 2,006.5 | 1,765.4 | 1,235.5 | 911.6 | 777.5 | 622.4 | 466.9 | 361.7 | 324.8 | 122.0 | 106.8 |
| Goodwill | 69.3 | 66.3 | 75.6 | 70.6 | 71.2 | 58.7 | 58.4 | 58.3 | 56.1 | 58.0 | 16.1 | 13.6 |
| Intangible Assets | 7.5 | 8.8 | 6.8 | 4.7 | 7.0 | 0.9 | 1.6 | 2.0 | 2.4 | 3.9 | 0 | 0 |
| Long-Term Investments | 525.7 | 0 | 0 | 0 | 0 | 1.2 | 1.3 | 289.6 | 248.3 | 149.2 | 0 | 0 |
| Other Non-Current Assets | 2,199.0 | 719.2 | 711.1 | 561.6 | 592.8 | 425.1 | 265.1 | 29.4 | 27.6 | 26.3 | 65.6 | 40.2 |
| Total Non-Current Assets | 2,984.6 | 2,857.4 | 2,585.3 | 1,875.5 | 1,586.2 | 1,263.4 | 948.8 | 850.7 | 696.9 | 571.2 | 203.8 | 160.6 |
| Total Assets | 4,537.1 | 4,158.5 | 3,713.8 | 2,876.8 | 2,224.8 | 1,754.1 | 1,374.0 | 1,161.6 | 984.0 | 797.3 | 375.5 | 292.0 |
| Current Liabilities | ||||||||||||
| Account Payables | 691.2 | 529.3 | 402.8 | 349.1 | 309.0 | 230.9 | 202.4 | 134.3 | 135.9 | 126.6 | 75.6 | 46.4 |
| Short-Term Debt | 140.1 | 149.4 | 322.2 | 331.5 | 78.9 | 65.1 | 65.0 | 26.9 | 22.4 | 19.3 | 8.1 | 5.1 |
| Deferred Revenue | 79.9 | 91.7 | 52.9 | 34.8 | 35.9 | 0 | 0 | 24.4 | 19.9 | 21.2 | 20.5 | 18.6 |
| Other Current Liabilities | 117.7 | 0 | 0 | 0 | 0 | 36.7 | 29.6 | 0 | 0 | 0 | 28.2 | 20.9 |
| Total Current Liabilities | 1,028.9 | 889.0 | 901.5 | 812.1 | 474.2 | 383.1 | 336.6 | 222.6 | 202.1 | 190.6 | 132.3 | 91.0 |
| Non-Current Liabilities | ||||||||||||
| Long-Term Debt | 1,749.7 | 1,483.9 | 1,170.1 | 568.6 | 377.2 | 743.2 | 494.9 | 219.2 | 173.2 | 140.6 | 105.8 | 94.0 |
| Deferred Tax Liabilities | 2.9 | 2.2 | 4.5 | 9.2 | 3.9 | 0 | 0 | 4.4 | 0.6 | 9.0 | 11.9 | 12.2 |
| Other Non-Current Liabilities | 576.8 | 114.5 | 82.7 | 49.5 | 43.2 | 41.7 | 29.4 | 43.9 | 29.1 | 22.0 | 18.6 | 20.8 |
| Total Non-Current Liabilities | 2,385.4 | 2,221.9 | 1,839.6 | 1,145.1 | 1,000.2 | 839.4 | 576.9 | 562.1 | 445.2 | 312.4 | 140.4 | 127.0 |
| Total Liabilities | 3,414.3 | 3,110.9 | 2,741.0 | 1,957.2 | 1,474.4 | 1,222.5 | 913.5 | 784.8 | 647.3 | 503.0 | 272.8 | 217.9 |
| Stockholders' Equity | ||||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 696.7 | 652.6 | 595.9 | 533.5 | 438.7 | 368.4 | 314.5 | 269.8 | 235.8 | 194.4 | 97.9 | 78.0 |
| Accumulated Other Comprehensive Income | (0.5) | (5.9) | (3.0) | (4.1) | (6.7) | (9.3) | (7.5) | (5.9) | (5.6) | (6.6) | 2.8 | (0.7) |
| Total Stockholders' Equity | 1,080.2 | 1,013.2 | 902.0 | 824.0 | 704.3 | 492.8 | 428.9 | 376.9 | 336.6 | 294.3 | 102.8 | 74.1 |
| Total Liabilities & Equity | 4,537.1 | 4,158.5 | 3,713.8 | 2,876.8 | 2,224.8 | 1,754.1 | 1,374.0 | 1,161.6 | 984.0 | 797.3 | 375.5 | 292.0 |
| Debt Metrics | ||||||||||||
| Total Debt | 1,945.7 | 1,703.3 | 1,548.1 | 937.6 | 497.5 | 873.1 | 623.2 | 246.1 | 195.6 | 159.9 | 113.9 | 99.1 |
| Net Debt | 1,873.9 | 1,594.8 | 1,468.9 | 822.1 | 447.1 | 806.7 | 590.0 | 184.7 | 171.3 | 139.3 | 66.0 | 81.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 44.3 | 56.8 | 63.9 | 98.5 | 80.2 | 56.9 | 40.3 | 37.6 | 33.5 | 12.0 |
| Depreciation & Amortization | 104.3 | 89.5 | 65.9 | 54.3 | 46.6 | 42.0 | 39.4 | 30.5 | 25.5 | 24.8 |
| Stock-Based Compensation | 0 | 14.1 | 10.3 | 15.0 | 8.7 | 1.9 | 1.6 | 1.3 | 1.3 | 1.5 |
| Change in Working Capital | (219.0) | 6.6 | (185.2) | (514.6) | (308.0) | (211.9) | (273.1) | (132.9) | (192.2) | (105.3) |
| Other Non-Cash Items | 8.5 | (25.1) | 2.7 | 4.5 | 5.0 | 5.0 | (1.2) | 4.8 | (0.1) | 6.1 |
| Operating Cash Flow | (80.4) | 117.6 | (70.0) | (338.3) | (172.3) | (102.6) | (196.3) | (53.2) | (136.6) | (58.1) |
| Investing Activities | ||||||||||
| Capital Expenditure | (356.0) | (438.3) | (551.8) | (327.9) | (183.8) | (182.8) | (140.6) | (129.6) | (89.1) | (76.0) |
| Acquisitions | 0.1 | 55.6 | (14.6) | 0 | (22.3) | (0.1) | (1.6) | (3.6) | 0.4 | (3.6) |
| Purchases of Investments | (27.8) | (11.8) | 0 | 0 | 0 | 0 | (0.3) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 13.1 | 0 | 0 | 0 | 0 | 135.5 | 0 | 0 | 0 |
| Other Investing Activities | 132.4 | (5.2) | (0.6) | (0.5) | 0.8 | 1.9 | (135.2) | (125.7) | (86.3) | (73.2) |
| Investing Cash Flow | (251.3) | (386.6) | (566.9) | (328.4) | (205.3) | (181.0) | (142.2) | (133.2) | (88.7) | (79.6) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 221.1 | 125.3 | 497.4 | 444.5 | 79.7 | 45.4 | 88.8 | 56.0 | 58.1 | 44.9 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | (0.0) | (0.1) | (1.8) | (3.4) | (6.4) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 94.4 | 185.9 | 143.4 | 285.7 | 165.7 | 259.7 | 228.8 | 170.4 | 175.6 | 98.8 |
| Financing Cash Flow | 318.4 | 313.9 | 640.8 | 730.2 | 365.5 | 305.2 | 317.4 | 224.5 | 228.8 | 137.3 |
| Cash Position | ||||||||||
| Net Change in Cash | (13.9) | 44.7 | 3.8 | 62.8 | (11.8) | 21.6 | (20.6) | 37.8 | 3.7 | (1.0) |
| Cash at Beginning | 178.2 | 153.7 | 149.9 | 87.1 | 98.8 | 77.3 | 97.9 | 60.1 | 20.6 | 21.6 |
| Cash at End | 164.3 | 198.4 | 153.7 | 149.9 | 87.1 | 98.8 | 77.3 | 97.9 | 24.3 | 20.6 |
| Free Cash Flow | (436.4) | (320.7) | (621.8) | (666.2) | (356.1) | (285.3) | (336.9) | (182.8) | (225.7) | (134.1) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||||||
| Revenue | 1,932.1 | 1,769.9 | 1,374.6 | 1,824.4 | 1,215.7 | 1,032.3 | 866.9 | 787.1 | 717.2 | 651.2 | 630.8 | 593.2 | 574.2 | 631.2 | 728.2 | 618.2 | 428.5 | 395.9 |
| Gross Profit | 304.0 | 256.1 | 246.4 | 290.8 | 230.4 | 187.5 | 168.1 | 173.6 | 144.2 | 134.3 | 117.1 | 116.9 | 103.3 | 128.1 | 135.0 | 110.7 | 79.7 | 77.3 |
| Operating Income | 128.6 | 108.7 | 82.2 | 133.0 | 95.4 | 71.5 | 51.6 | 59.1 | 36.6 | 23.8 | 7.1 | 13.2 | 6.6 | 28.7 | 50.7 | 46.0 | 25.3 | 24.7 |
| Net Income | 44.3 | 56.8 | 62.5 | 94.9 | 70.5 | 54.1 | 44.4 | 38.0 | 37.5 | 12.0 | 3.0 | 10.4 | 2.4 | 18.4 | 34.7 | 28.7 | 19.9 | 18.3 |
| EPS (Diluted) | 0.83 | 1.07 | 1.17 | 1.78 | 1.35 | 1.10 | 0.93 | 0.81 | 0.82 | 0.26 | 0.02 | 0.22 | 0.05 | 0.40 | 0.75 | 0.69 | 0.61 | 0.48 |
| Balance Sheet | ||||||||||||||||||
| Cash & Equivalents | 71.8 | 108.5 | 79.3 | 115.5 | 50.5 | 66.4 | 33.2 | 61.4 | 24.3 | 20.6 | 47.9 | 18.1 | ||||||
| Total Assets | 4,537.1 | 4,158.5 | 3,713.8 | 2,876.8 | 2,224.8 | 1,754.1 | 1,374.0 | 1,161.6 | 984.0 | 797.3 | 375.5 | 292.0 | ||||||
| Total Debt | 1,945.7 | 1,703.3 | 1,548.1 | 937.6 | 497.5 | 873.1 | 623.2 | 246.1 | 195.6 | 159.9 | 113.9 | 99.1 | ||||||
| Stockholders' Equity | 1,080.2 | 1,013.2 | 902.0 | 824.0 | 704.3 | 492.8 | 428.9 | 376.9 | 336.6 | 294.3 | 102.8 | 74.1 | ||||||
| Cash Flow | ||||||||||||||||||
| Operating Cash Flow | (80.4) | 117.6 | (70.0) | (338.3) | (172.3) | (102.6) | (196.3) | (53.2) | (136.6) | (58.1) | ||||||||
| Capital Expenditure | (356.0) | (438.3) | (551.8) | (327.9) | (183.8) | (182.8) | (140.6) | (129.6) | (89.1) | (76.0) | ||||||||
| Free Cash Flow | (436.4) | (320.7) | (621.8) | (666.2) | (356.1) | (285.3) | (336.9) | (182.8) | (225.7) | (134.1) | ||||||||