For the year ending 2025-12-31, EME had -$228,427K decrease in cash & cash equivalents over the period. $1,189,313K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income including noncontrolling interests | 1,272,817 | 1,007,145 | 633,329 | 406,122 |
| Depreciation and amortization | 67,368 | 56,678 | 51,822 | 47,296 |
| Amortization of identifiable intangible assets | 119,052 | 77,002 | 67,143 | 61,315 |
| Provision for credit losses | 7,671 | 17,303 | 7,859 | 5,166 |
| Deferred income taxes | -16,055 | -29,115 | -16,651 | 10,483 |
| Gain on sale of united kingdom operations | 144,876 | - | - | - |
| Gain on sale or disposal of property, plant, and equipment | 2,229 | 1,012 | 2,057 | 6,393 |
| Excess tax benefits from share-based compensation | 5,006 | 3,978 | 1,719 | 1,654 |
| Equity income from unconsolidated entities | 62 | 98 | 1,660 | 391 |
| Non-cash expense for amortization of debt issuance costs | 822 | 822 | 960 | 960 |
| Non-cash (income) expense from contingent consideration arrangements | -534 | 8,892 | 2,287 | 1,610 |
| Non-cash expense for impairment of goodwill, identifiable intangible assets, and other long-lived assets | - | - | - | 0 |
| Non-cash expense for impairment of long-lived assets | 0 | 0 | 2,350 | - |
| Non-cash share-based compensation expense | 20,595 | 19,978 | 13,739 | 12,125 |
| Distributions from unconsolidated entities | 251 | 1,554 | 400 | 400 |
| Increase in accounts receivable | 437,768 | 311,504 | 626,494 | 340,091 |
| (increase) decrease in inventories | 26,951 | -17,982 | 23,442 | 31,541 |
| (increase) decrease in contract assets | 42,752 | 13,318 | -5,733 | 44,725 |
| Increase (decrease) in accounts payable | 189,349 | -15,362 | 82,192 | 111,488 |
| Increase in contract liabilities | 155,596 | 426,628 | 489,728 | 299,897 |
| Increase in accrued payroll and benefits and other accrued expenses and liabilities | 141,191 | 148,490 | 189,268 | -30,025 |
| Changes in other assets and liabilities, net | -3,584 | 193 | -24,868 | 4,109 |
| Net cash provided by operating activities | 1,302,063 | 1,407,894 | 899,655 | 497,933 |
| Payments for acquisitions of businesses, net of cash acquired | 1,022,105 | 228,173 | 96,491 | 98,656 |
| Net proceeds from sale of united kingdom operations | 256,622 | - | - | - |
| Proceeds from sale or disposal of property, plant, and equipment | 4,647 | 3,839 | 13,604 | 7,145 |
| Purchases of property, plant, and equipment | 112,750 | 74,950 | 78,404 | 49,289 |
| Investments in and advances to unconsolidated entities | - | - | 0 | 0 |
| Distributions from unconsolidated entities | - | - | 0 | 0 |
| Net cash used in investing activities | -873,586 | -299,284 | -161,291 | -140,800 |
| Proceeds from revolving credit facility | 525,000 | 0 | 200,000 | 270,000 |
| Repayments of revolving credit facility | 525,000 | 0 | 200,000 | 270,000 |
| Proceeds from long-term debt | - | - | - | 0 |
| Repayments of long-term debt and debt issuance costs | 0 | 0 | 246,171 | 13,875 |
| Repayments of finance lease liabilities | 2,692 | 2,855 | 2,776 | 3,551 |
| Dividends paid to stockholders | 45,023 | 43,384 | 32,684 | 27,187 |
| Repurchases of common stock | 586,258 | 489,820 | 127,713 | 660,609 |
| Taxes paid related to net share settlements of equity awards | 16,816 | 15,397 | 6,060 | 7,539 |
| Issuances of common stock under employee stock purchase plan | 0 | 943 | 9,189 | 8,177 |
| Payments for contingent consideration arrangements | 12,038 | 4,852 | 5,839 | 5,534 |
| Distributions to noncontrolling interests | 934 | - | 0 | 0 |
| Net cash used in financing activities | -663,761 | -555,365 | -412,054 | -710,118 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 6,857 | -2,600 | 6,372 | -12,515 |
| (decrease) increase in cash, cash equivalents, and restricted cash | -228,427 | 550,645 | 332,682 | -365,500 |
| Cash, cash equivalents, and restricted cash at beginning of year | 1,340,395 | 789,750 | 457,068 | 822,568 |
| Cash, cash equivalents, and restricted cash at end of period | 1,111,968 | 1,340,395 | 789,750 | 457,068 |
EMCOR Group, Inc. (EME)
EMCOR Group, Inc. (EME)