Emcor vs Jacobs Solutions
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The short version
- Emcor is the larger business, with $17.0B of revenue in fiscal 2025 against $12.0B for Jacobs Solutions.
- Emcor grew revenue faster (16.6%, against 4.6%).
- Emcor kept more of each dollar of sales as operating profit (10.1% operating margin, against 7.2%).
- Emcor turned more of its sales into free cash flow (7.0% FCF margin, against 5.1%).
- Emcor earned a higher return on the capital invested in it (60.7%, against 10.1%).
- Investors pay more for each dollar of Jacobs Solutions’s earnings: a P/E of 50.9x against 20.2x for Emcor.
| Latest fiscal year | EME · FY25 | J · FY25 |
|---|---|---|
| Size | ||
| Market cap | $28.9B | $17.2B |
| Revenue | $17.0B | $12.0B |
| Free cash flow | $1.2B | $607M |
| Net income | $1.3B | $289M |
| Growth | ||
| Revenue growth | 16.6% | 4.6% |
| 5-year growth | 14.1% | −2.4% |
| Share count change | −3.6% | −3.1% |
| Profitability | ||
| Gross margin | 19.3% | 24.8% |
| Operating margin | 10.1% | 7.2% |
| Net margin | 7.5% | 2.4% |
| FCF margin | 7.0% | 5.1% |
| Return on capital | 60.7% | 10.1% |
| Return on equity | 38.5% | 7.1% |
| Balance sheet | ||
| Net debt | −$1.1B | $1.0B |
| Net debt / EBITDA | −0.6x | 1.1x |
| Dividends and buybacks | $631M | $907M |
| Valuation & quality | ||
| P/E | 20.2x | 50.9x |
| Piotroski F-score | 6 | 7 |
FY16
EME $7.6B
J $11.0B
FY17
EME $7.7B
J $10.0B
FY18
EME $8.1B
J $15.0B
FY19
EME $9.2B
J $12.7B
FY20
EME $8.8B
J $13.6B
FY21
EME $9.9B
J $14.1B
FY22
EME $11.1B
J $9.8B
FY23
EME $12.6B
J $10.9B
FY24
EME $14.6B
J $11.5B
FY25
EME $17.0B
J $12.0B
EME
J
FY16
EME 4.1%
J 3.1%
FY17
EME 4.3%
J 2.4%
FY18
EME 5.0%
J 2.6%
FY19
EME 5.0%
J 3.2%
FY20
EME 2.9%
J 4.0%
FY21
EME 5.4%
J 4.9%
FY22
EME 5.1%
J 5.5%
FY23
EME 7.0%
J 6.2%
FY24
EME 9.2%
J 6.0%
FY25
EME 10.1%
J 7.2%
EME
J
FY16
EME $223M
J $612M
FY17
EME $331M
J $457M
FY18
EME $228M
J $386M
FY19
EME $307M
J −$502M
FY20
EME $758M
J $689M
FY21
EME $283M
J $633M
FY22
EME $449M
J $347M
FY23
EME $821M
J $837M
FY24
EME $1.3B
J $934M
FY25
EME $1.2B
J $607M
EME
J
FY16
EME 13.8%
J 5.9%
FY17
EME 15.7%
J 4.2%
FY18
EME 18.3%
J 3.4%
FY19
EME 18.1%
J 5.3%
FY20
EME 7.9%
J 7.2%
FY21
EME 24.7%
J 5.7%
FY22
EME 23.7%
J 5.7%
FY23
EME 36.8%
J 6.4%
FY24
EME 59.8%
J 8.0%
FY25
EME 60.7%
J 10.1%
EME
J
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.