Ameresco, Inc.
AMRC NYSE Construction - Special Trade Contractors Financials FY2016–FY2025
- Today
- 3.9%
- Previous close
- $21.61
- Market cap
- $1.2B
- P/E
- 12.1x
- Day range
-
$22.15 $23.42
- 52-week range
-
$18.32 $36.56
Last close · Nov 9, 2026
$22.45
−$12.82 (−36.35%) past year
Latest quarter
Q3 '26 results
+10.3%
Revenue vs Q3 '25
Quarter ended September 30, 2026
Fiscal 2026 so far: Revenue 10.8% · Net income 79.6% · Diluted EPS 80.5%
See every quarter| Line | Q3 '25 | Q3 '26 | Change (y/y) |
|---|---|---|---|
| Revenue | $526M | $580M | 10.3% |
| Net income | $74.0M | $31.9M | 56.9% |
| Diluted EPS | $1.39 | $0.59 | 57.6% |
| Operating margin | 7.7% | 10.6% | 2.9 pts |
| Free cash flow | $18.1M | −$9.5M | 152.6% |
Key numbers
Key numbers, fiscal 2025
Revenue and margins
Revenue and margins
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Net income
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
-
Ameresco, Inc. made $174M of net profit in fiscal 2025.
From fiscal 2016 to 2025, diluted EPS grew 32.3% a year.
Net income
Net income
Diluted EPS
Diluted EPS
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Cash flow
Cash flow
Cash from operations minus capital spending.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Dividends and buybacks
Dividends, buybacks and share count
Dividends and buybacks
Diluted shares outstanding (annual)
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Insider trades
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
-
In the last 12 months, insiders bought $1.9M and sold $1.5M of shares on the open market.
Bought, 12 months
$1.9M
4 insiders
Sold, 12 months
$1.5M
6 insiders
Of sales under plans
67%
$1.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | Mark ChiplockEVP, CFO & CAO | Sold plan | 476 | $22.46 | $0.0M | Form 4 |
| Sep 15, 2026 | Louis P MaltezosCo-President | Sold plan | 592 | $22.46 | $0.0M | Form 4 |
| Aug 28, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 3,000 | $22.13 | $0.1M | Form 4 |
| Aug 27, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 4,000 | $22.84 | $0.1M | Form 4 |
| Aug 26, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 1,000 | $21.92 | $0.0M | Form 4 |
| Aug 25, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 5,000 | $21.95 | $0.1M | Form 4 |
| Aug 24, 2026 | Joseph W. SuttonDirector | Bought | 9,700 | $20.87 | $0.2M | Form 4 |
| Aug 24, 2026 | Jennifer L MillerDirector | Bought | 2,000 | $20.96 | $0.0M | Form 4 |
| Aug 24, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 5,000 | $20.91 | $0.1M | Form 4 |
| Aug 21, 2026 | Brian C CoxDirector | Bought | 4,625 | $21.64 | $0.1M | Form 4 |
| Aug 11, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 1,000 | $25.90 | $0.0M | Form 4 |
| Aug 10, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 1,000 | $25.27 | $0.0M | Form 4 |
| Aug 10, 2026 | Brian C CoxDirector | Bought | 39,700 | $25.07 | $1.0M | Form 4 |
| Aug 7, 2026 | George P SakellarisChief Executive Officer, Director, 10% owner | Bought | 5,000 | $25.95 | $0.1M | Form 4 |
| May 29, 2026 | Francis Wisneski V JrDirector | Sold | 5,000 | $36.12 | $0.2M | Form 4 |
| May 19, 2026 | Francis Wisneski V JrDirector | Sold | 10,000 | $30.29 | $0.3M | Form 4 |
| May 18, 2026 | Jennifer L MillerDirector | Sold plan | 10,000 | $32.27 | $0.3M | Form 4 |
| May 15, 2026 | Nickolas StavropoulosDirector | Sold plan | 1,355 | $34.00 | $0.0M | Form 4 |
| Mar 12, 2026 | Mark ChiplockEVP, CFO & CAO | Sold plan | 273 | $25.31 | $0.0M | Form 4 |
| Mar 12, 2026 | Louis P MaltezosPresident-Central&West USA Can | Sold plan | 306 | $25.31 | $0.0M | Form 4 |
| Mar 12, 2026 | David J CorrsinEVP and General Counsel, Director | Sold plan | 19 | $25.31 | $0.0M | Form 4 |
| Mar 10, 2026 | David J CorrsinEVP and General Counsel, Director | Sold plan | 50 | $26.34 | $0.0M | Form 4 |
| Feb 20, 2026 | Nickolas StavropoulosDirector | Sold plan | 15,700 | $34.15 | $0.5M | Form 4 |
| Feb 19, 2026 | Nickolas StavropoulosDirector | Sold plan | 400 | $34.00 | $0.0M | Form 4 |
| Feb 13, 2026 | Nickolas StavropoulosDirector | Sold plan | 245 | $34.05 | $0.0M | Form 4 |
| Feb 12, 2026 | Nickolas StavropoulosDirector | Sold plan | 200 | $34.00 | $0.0M | Form 4 |
| Jan 28, 2026 | Nickolas StavropoulosDirector | Sold plan | 100 | $34.00 | $0.0M | Form 4 |
| Oct 13, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 16,799 | $42.70 | $0.7M | Form 4 |
| Oct 9, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 7,100 | $39.97 | $0.3M | Form 4 |
| Oct 8, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 3,800 | $39.75 | $0.2M | Form 4 |
| Oct 7, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 5,900 | $39.51 | $0.2M | Form 4 |
| Oct 6, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 5,900 | $38.92 | $0.2M | Form 4 |
| Oct 1, 2025 | Mark ChiplockEVP, CFO & CAO | Sold plan | 5,602 | $37.95 | $0.2M | Form 4 |
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Balance sheet
Balance sheet
Cash, debt and the ratios that show how comfortably Ameresco, Inc. can carry it.
KIRA summarises the numbers
-
Ameresco, Inc. owes $1.8B more than it holds in cash.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $50.5M | $116M | $79.3M | $109M | $71.8M |
| Debt incl. finance leases | $475M | $916M | $1.5B | $1.6B | $1.9B |
| Net debt / EBITDA | 3.0x | 4.3x | 9.6x | 7.8x | — |
| Debt / equity | 0.6x | 1.1x | 1.7x | 1.6x | 1.5x |
| Interest coverage | 6.5x | 7.5x | 3.1x | — | — |
| Current ratio | 1.3x | 1.2x | 1.3x | 1.5x | 1.5x |
| Quick ratio | 1.3x | 1.2x | 1.2x | 1.5x | 1.5x |
| Total assets | $2.2B | $2.9B | $3.7B | $4.2B | $4.7B |
| Total liabilities | $1.5B | $2.1B | $2.8B | $3.1B | $3.5B |
| Shareholders' equity | $704M | $824M | $902M | $1.0B | $1.3B |
| Net debt (− = net cash) | $425M | $801M | $1.4B | $1.5B | $1.8B |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Returns on capital
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Return on capital, equity and assets (annual)
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
F-score
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| F-score | 5 / 9 | 3 / 9 | 4 / 9 | 7 / 9 | — / 4 |
| Accruals ratio | 12.2% | 17.0% | 4.0% | −1.5% | — |
| Altman Z'' | 1.90 | 1.77 | 1.41 | 1.68 | — |
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✕ | ✕ | ✓ | — |
| Return on assets rose | ✓ | ✓ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ | ✕ | ✓ | — |
| Debt fell relative to assets | ✓ | ✕ | ✕ | ✓ | ✕ |
| Current ratio rose | ✓ | ✕ | ✓ | ✓ | ✓ |
| Share count didn't rise | ✕ | ✕ | ✓ | ✓ | — |
| Gross margin rose | ✓ | ✕ | ✓ | ✕ | — |
| Revenue rose relative to assets | ✕ | ✓ | ✕ | ✓ | — |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
All figures
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $651M | $717M | $787M | $867M | $1.0B | $1.2B | $1.8B | $1.4B | $1.8B | — |
| Net interest income | — | — | — | — | — | — | $25.7M | $36.2M | $65.0M | — |
| Gross profit | $134M | $144M | $174M | $168M | $188M | $230M | $291M | $246M | $256M | — |
| Operating income | $23.8M | $36.6M | $59.1M | $51.6M | $71.5M | $95.4M | $133M | $82.2M | $109M | — |
| Interest expense | $7.1M | $9.1M | $15.3M | $13.2M | $13.4M | $14.6M | $17.8M | $26.9M | — | — |
| Pretax income | $16.4M | $28.7M | $42.4M | $36.6M | $56.4M | $78.1M | $106M | $38.3M | $33.9M | — |
| Income tax | $4.4M | −$4.8M | $4.8M | −$3.7M | −$0.5M | −$2.0M | $7.2M | −$25.6M | −$20.0M | −$150M |
| Net income | $12.0M | $37.5M | $38.0M | $44.4M | $54.1M | $70.5M | $94.9M | $62.5M | $56.8M | $174M |
| Net income to common | $12.0M | — | $38.0M | $44.4M | $53.9M | $70.3M | $94.8M | $62.4M | $56.7M | — |
| Diluted EPS | $0.26 | $0.82 | $0.81 | $0.93 | $1.10 | $1.35 | $1.78 | $1.17 | $1.07 | $3.23 |
| Diluted shares | 0.05B | 0.05B | 0.05B | 0.05B | 0.05B | 0.05B | 0.05B | 0.05B | 0.05B | — |
| Cash flow | ||||||||||
| Cash from operations | −$52.6M | −$136M | −$53.2M | −$196M | −$103M | −$172M | −$338M | −$70.0M | $118M | — |
| Capital expenditure | $2.8M | $2.9M | $3.9M | $6.7M | $2.2M | $4.9M | $5.3M | $5.7M | $4.3M | — |
| Free cash flow | −$55.4M | −$138M | −$57.1M | −$203M | −$105M | −$177M | −$344M | −$75.7M | $113M | — |
| Depreciation and amortization | $22.8M | $23.9M | $29.1M | $37.7M | $40.1M | $44.8M | $54.3M | $65.9M | $89.2M | — |
| Stock-based compensation | $1.5M | $1.3M | $1.3M | $1.6M | $1.9M | $8.7M | $15.0M | $10.3M | $14.1M | — |
| Acquisitions | $3.6M | $2.4M | $3.6M | $1.3M | $0.0M | $14.9M | $0.0M | $9.2M | $0.0M | — |
| Share buybacks | $6.4M | $3.4M | $1.8M | $0.1M | $0.0M | $0.0M | $0.0M | — | — | — |
| Dividends and buybacks | $6.4M | $3.4M | $1.8M | $0.1M | $0.0M | $0.0M | $0.0M | — | — | — |
| Balance sheet | ||||||||||
| Cash and short-term investments | $20.6M | $24.3M | $61.4M | $33.2M | $66.4M | $50.5M | $116M | $79.3M | $109M | $71.8M |
| Total debt | $165M | $202M | $254M | $343M | $381M | $456M | $900M | $1.5B | $1.6B | $1.9B |
| Finance lease liabilities | — | — | $33.4M | $28.5M | $23.5M | $19.2M | $16.1M | $13.9M | $12.9M | $12.1M |
| Current assets | $226M | $287M | $311M | $425M | $491M | $639M | $1.0B | $1.1B | $1.3B | $1.6B |
| Current liabilities | $191M | $202M | $223M | $337M | $383M | $474M | $812M | $901M | $889M | $1.0B |
| Inventory | $12.1M | $8.1M | $7.8M | $9.2M | $8.6M | $8.8M | $14.2M | $13.6M | $11.6M | $12.6M |
| Property and equipment, net | $5.0M | $5.3M | $7.0M | $10.1M | $9.0M | $13.1M | $15.7M | $17.4M | $11.0M | $10.1M |
| Goodwill | $58.0M | $56.1M | $58.3M | $58.4M | $58.7M | $71.2M | $70.6M | $75.6M | $66.3M | $69.3M |
| Intangible assets | $3.9M | $2.4M | $2.0M | $1.6M | $0.9M | $7.0M | $4.7M | $6.8M | $8.8M | $7.5M |
| Total assets | $797M | $984M | $1.2B | $1.4B | $1.8B | $2.2B | $2.9B | $3.7B | $4.2B | $4.7B |
| Total liabilities | $503M | $647M | $785M | $945M | $1.3B | $1.5B | $2.1B | $2.8B | $3.1B | $3.5B |
| Shareholders' equity | $294M | $337M | $377M | $429M | $493M | $704M | $824M | $902M | $1.0B | $1.3B |
| Margins | ||||||||||
| Gross margin | 20.6% | 20.1% | 22.1% | 19.4% | 18.2% | 18.9% | 15.9% | 17.9% | 14.5% | — |
| Operating margin | 3.7% | 5.1% | 7.5% | 6.0% | 6.9% | 7.9% | 7.3% | 6.0% | 6.1% | — |
| EBITDA margin | 7.1% | 8.4% | 11.2% | 10.3% | 10.8% | 11.5% | 10.3% | 10.8% | 11.2% | — |
| Net margin | 1.8% | 5.2% | 4.8% | 5.1% | 5.2% | 5.8% | 5.2% | 4.5% | 3.2% | — |
| FCF margin | −8.5% | −19.3% | −7.3% | −23.4% | −10.2% | −14.6% | −18.8% | −5.5% | 6.4% | — |
| Net interest share of revenue | — | — | — | — | — | — | 1.4% | 2.6% | 3.7% | — |
| Returns | ||||||||||
| Return on capital | 4.0% | 7.1% | 9.2% | 7.0% | 8.9% | 8.6% | 7.7% | 3.6% | 4.3% | — |
| Return on capital employed | 3.9% | 4.7% | 6.3% | 5.0% | 5.2% | 5.5% | 6.4% | 2.9% | 3.3% | — |
| Return on equity | 4.1% | 11.9% | 10.6% | 11.0% | 11.7% | 11.8% | 12.4% | 7.2% | 5.9% | 15.2% |
| Return on assets | 1.5% | 4.2% | 3.5% | 3.5% | 3.5% | 3.5% | 3.7% | 1.9% | 1.4% | 3.9% |
| Return on tangible equity | 5.2% | 13.5% | 12.0% | 12.0% | 12.5% | 11.2% | 12.7% | 7.6% | 6.0% | 14.6% |
| Growth | ||||||||||
| Revenue growth | — | 10.1% | 9.8% | 10.1% | 19.1% | 17.8% | 50.1% | −24.7% | 28.8% | — |
| Net income growth | — | 211.6% | 1.3% | 17.0% | 21.6% | 30.4% | 34.7% | −34.2% | −9.1% | 205.9% |
| EPS growth | — | 215.4% | −1.2% | 14.8% | 18.3% | 22.7% | 31.9% | −34.3% | −8.5% | 201.9% |
| Share count change | — | −1.6% | 2.4% | 2.0% | 2.6% | 6.7% | 1.9% | −0.1% | −0.2% | — |
| Financial health | ||||||||||
| Net debt / EBITDA | 3.1x | 2.9x | 2.6x | 3.8x | 3.0x | 3.0x | 4.3x | 9.6x | 7.8x | — |
| Debt / equity | 0.6x | 0.6x | 0.7x | 0.8x | 0.8x | 0.6x | 1.1x | 1.7x | 1.6x | 1.5x |
| Interest coverage | 3.4x | 4.0x | 3.9x | 3.9x | 5.3x | 6.5x | 7.5x | 3.1x | — | — |
| Current ratio | 1.2x | 1.4x | 1.4x | 1.3x | 1.3x | 1.3x | 1.2x | 1.3x | 1.5x | 1.5x |
| Quick ratio | 1.1x | 1.4x | 1.4x | 1.2x | 1.3x | 1.3x | 1.2x | 1.2x | 1.5x | 1.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.4% | 0.4% | 0.5% | 0.8% | 0.2% | 0.4% | 0.3% | 0.4% | 0.2% | — |
| Stock comp / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.7% | 0.8% | 0.8% | 0.8% | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 5.0 | 2.0 | 1.0 | 3.0 | 5.0 | 3.0 | 4.0 | 7.0 | — |
| Altman Z'' | 1.9 | 2.1 | 2.1 | 1.9 | 1.8 | 1.9 | 1.8 | 1.4 | 1.7 | — |
| Accruals ratio | 8.1% | 19.4% | 8.5% | 19.0% | 10.0% | 12.2% | 17.0% | 4.0% | −1.5% | — |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
News and filings
Latest SEC filings
The original documents every number on this page comes from.
KIRA analysis
KIRA’s summary AI analyst
Hi! I read Ameresco, Inc.’s latest annual report (fiscal 2025). Here is what stands out:
Ameresco, Inc. in 30 seconds
Good So-so Weak
Does it make a profit?
$174M
Yes. It made $174M of profit last year.
Is debt under control?
$1.8B
Risky. It owes more than it holds in cash and has no operating profit to repay it.
How is the share priced?
12.1x
One share costs 12.1 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Sales and profit
1 1 note
- Ameresco, Inc. made $174M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 32.3% a year.
Cash and shareholders
1 note
- In the last 12 months, insiders bought $1.9M and sold $1.5M of shares on the open market.
Financial health
1 note
- Ameresco, Inc. owes $1.8B more than it holds in cash.
Source: SEC EDGAR XBRL filings (CIK 0001488139). Data updated November 10, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.