EMCOR Group, Inc. — Earnings Quality Grade D
EME · Industrials
Significant concerns
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 91 days, change +1 days YoY
AR growth 18.6% vs revenue growth 16.6%
Revenue grew 16.6% but CFFO declined -7.5%
Expense Quality
Inventory growth 32.0% exceeds COGS 16.1%
CapEx growth 50.4% is >2x revenue growth 16.6%
SG&A/Gross Profit = 52.2%. Normal
Gross margin 19.3%, change +0.3pp. Stable
Cash Flow Quality
CFFO/NI = 1.02. Profits backed by cash
FCF $1.2B, FCF/NI = 0.93
Accruals ratio = -0.3%. Low accruals
Cash $1.1B covers debt $0.5B
Balance Sheet Health
Goodwill+Intangibles $2.5B = 69% of equity. Over 50%
Debt/EBITDA = 0.2x. Healthy
Other assets 2.5% vs revenue 16.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 51% YoY
Manipulation Score
M-Score = -2.25 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09