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Financials · AMRC

Ameresco Inc. (AMRC) financials

For the twelve months ended Sep 30, 2025, Ameresco Inc. reported $1.88B of revenue and $63.00M of net income.

Revenue, TTM
$1.88B
Revenue growth, YoY
+12.2%
Net income, TTM
$63.00M
Net margin
3.3%
Free cash flow, TTM
-$21.25M
EPS, diluted, TTM
$1.20
Cash
$138.33M
Total debt
$1.96B
P/E
17.90
P/S
0.60
Market cap
$1.13B
Annual revenue$1.77B
FY2015FY2024
Annual net income$56.76M
FY2015FY2024
Annual free cash flow$113.31M
FY2015FY2024

AMRC revenue and earnings growth

AMRC revenueQ2 2026$515.46M

Quarter YoY
+9.1%
QoQ
+28.4%
FY YoY
+28.8%
5Y CAGR
+15.3%
10Y CAGR
+11.6%

AMRC revenue was $515.46M in fiscal Q2 2026 (ended Jun 30, 2026), up 9.1% from a year earlier and up 28.4% from the prior quarter. For the full fiscal 2024 it was $1.77B, up 28.8% from fiscal 2023. Compound annual growth was +15.3% over 5 years and +11.6% over 10 years. It rose in 9 of the last 10 fiscal years.

AMRC net incomeQ2 2026$9.72M

Quarter YoY
-24.5%
FY YoY
-9.1%
5Y CAGR
+5.0%
10Y CAGR
+18.5%

AMRC net income was $9.72M in fiscal Q2 2026 (ended Jun 30, 2026), down 24.5% from a year earlier. For the full fiscal 2024 it was $56.76M, down 9.1% from fiscal 2023. Compound annual growth was +5.0% over 5 years and +18.5% over 10 years. It rose in 7 of the last 10 fiscal years.

AMRC EPSQ2 2026$0.18

Quarter YoY
-25.0%
FY YoY
-8.5%
5Y CAGR
+2.8%
10Y CAGR
+17.1%

AMRC diluted EPS was $0.18 in fiscal Q2 2026 (ended Jun 30, 2026), down 25.0% from a year earlier. For the full fiscal 2024 it was $1.07, down 8.5% from fiscal 2023. Compound annual growth was +2.8% over 5 years and +17.1% over 10 years.

AMRC free cash flowQ2 2026-$108.07M

AMRC free cash flow was -$108.07M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$27.02M a year earlier. For the full fiscal 2024 it was $113.31M, compared with -$75.70M in fiscal 2023. Fiscal 2024 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Revenue$1.77B$1.37B$1.82B$1.22B$1.03B$866.93M$787.14M$717.15M$651.23M$630.83M
Cost of revenue$1.51B$1.13B$1.53B$985.34M$844.73M$698.82M$613.53M$572.99M$516.88M$513.77M
Gross profit$256.09M$246.43M$290.83M$230.36M$187.55M$168.12M$173.61M$144.16M$134.34M$117.06M
Selling, general and admin$173.76M$162.14M$159.49M$132.90M$116.05M$116.50M$114.51M$107.57M$110.57M$110.01M
Operating income$108.75M$82.22M$132.99M$95.43M$71.50M$51.61M$59.10M$36.59M$23.78M$7.06M
Interest expense-$26.92M$17.77M$14.60M$13.44M$13.17M$15.34M$9.08M$7.08M$5.25M
Pre-tax income$33.94M$38.27M$105.72M$78.14M$56.43M$36.55M$42.39M$28.72M$16.37M$292.0K
Income tax-$20.00M-$25.64M$7.17M-$2.05M-$494.0K-$3.75M$4.81M-$4.79M$4.37M$4.98M
Net income$56.76M$62.47M$94.93M$70.46M$54.05M$44.44M$37.98M$37.49M$12.03M$844.0K
EPS, basic$1.08$1.20$1.83$1.38$1.13$0.95$0.83$0.82$0.26$0.02
EPS, diluted$1.07$1.17$1.78$1.35$1.10$0.93$0.81$0.82$0.26$0.02
Diluted shares53.1M53.2M53.3M52.3M49.0M47.8M46.8M45.7M46.5M47.7M

Balance sheet

Balance sheet
Line item
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Cash and equivalents$198.38M$153.68M$149.89M$87.05M$98.84M$77.26M$97.91M$60.10M$52.83M$51.35M
Inventory$11.56M$13.64M$14.22M$8.81M$8.57M$9.24M$7.76M$8.14M$12.10M$13.22M
Current assets$1.30B$1.13B$1.00B$638.59M$490.71M$425.19M$310.97M$287.08M$226.06M$263.70M
Goodwill$66.31M$75.59M$70.63M$71.16M$58.71M$58.41M$58.33M$56.13M$57.98M$59.09M
Total assets$4.16B$3.71B$2.88B$2.22B$1.75B$1.37B$1.16B$983.95M$797.28M$723.44M
Current liabilities$889.01M$901.47M$812.07M$474.22M$383.10M$336.65M$222.63M$202.14M$190.60M$179.72M
Short-term debt$149.36M$322.25M$331.48M$78.93M$69.36M$69.97M$26.89M$22.38M$19.29M$13.43M
Long-term debt$1.48B$1.17B$568.63M$377.18M$311.67M$266.18M$219.16M$173.24M$140.59M$100.49M
Total debt$1.63B$1.49B$900.11M$456.12M$381.04M$336.15M$246.05M$195.61M$159.88M$113.92M
Total liabilities$3.11B$2.79B$2.00B$1.52B$1.26B$945.16M$784.76M$647.33M$502.98M$436.03M
Shareholders' equity$1.05B$925.89M$873.03M$704.26M$492.81M$428.86M$376.88M$336.62M$294.31M$287.41M

Cash flow

Cash flow
Line item
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Operating cash flow$117.60M-$69.99M-$338.29M-$172.30M-$102.58M-$196.29M-$53.20M-$135.57M-$52.63M-$49.54M
Capital expenditures$4.29M$5.71M$5.30M$4.90M$2.21M$6.67M$3.94M$2.85M$2.81M$1.34M
Free cash flow$113.31M-$75.70M-$343.58M-$177.19M-$104.79M-$202.97M-$57.14M-$138.42M-$55.44M-$50.88M
Investing cash flow-$386.64M-$566.94M-$328.36M-$205.26M-$181.01M-$142.22M-$133.21M-$88.04M-$79.62M-$51.83M
Financing cash flow$313.94M$640.80M$730.23M$365.46M$305.17M$317.42M$224.51M$230.24M$134.15M$100.70M
Share repurchases--$0$0$6.0K$144.0K$1.84M$3.41M$6.39M$0
Stock-based compensation$14.13M$10.32M$15.05M$8.72M$1.93M$1.62M$1.26M$1.29M$1.46M$1.77M
Depreciation and amortization$89.21M$65.91M$54.28M$44.76M$40.14M$37.71M$29.15M$23.91M$22.76M$21.52M

Key ratios

Key ratios
Line item
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Revenue growth, YoY28.8%-24.7%50.1%17.8%19.1%10.1%9.8%10.1%3.2%6.3%
Net income growth, YoY-9.1%-34.2%34.7%30.4%21.6%17.0%1.3%211.6%1325.6%-91.9%
EPS growth, YoY-8.5%-34.3%31.9%22.7%18.3%14.8%-1.2%215.4%1200.0%-90.9%
Gross margin14.5%17.9%15.9%18.9%18.2%19.4%22.1%20.1%20.6%18.6%
Operating margin6.1%6.0%7.3%7.9%6.9%6.0%7.5%5.1%3.7%1.1%
Net margin3.2%4.5%5.2%5.8%5.2%5.1%4.8%5.2%1.8%0.1%
Free cash flow margin6.4%-5.5%-18.8%-14.6%-10.2%-23.4%-7.3%-19.3%-8.5%-8.1%
Return on equity5.4%6.7%10.9%10.0%11.0%10.4%10.1%11.1%4.1%0.3%
Return on assets1.4%1.7%3.3%3.2%3.1%3.2%3.3%3.8%1.5%0.1%
Current ratio1.461.251.231.351.281.261.401.421.191.47
Debt to equity1.561.611.030.650.770.780.650.580.540.40

Source: XBRL data Ameresco Inc. files with the SEC, latest filing dated Aug 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

AMRC peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
AMRC$1.88B+12.2%$63.00M3.3%$1.13B
PWR$37.29B+37.1%$1.70B4.6%$87.46B
FIX$12.54B+50.7%$1.63B13.0%$38.18B
EME$19.84B+22.1%$1.54B7.8%$27.99B
IESC$3.99B+22.7%$456.11M11.4%$6.88B
BBUC$27.46B-32.4%$387.00M1.4%$6.43B
AGX$1.19B+29.0%$179.31M15.1%$4.08B
LGN$3.75B+69.2%-$43.74M-1.2%$3.47B
LMB$729.65M+20.9%$30.88M4.2%$693.0M

AMRC FAQ

9 questions
  • What is AMRC revenue?
    Ameresco Inc. (AMRC) reported $1.88B of revenue for the twelve months ended Sep 30, 2025. That is up 12.2% from the year before. Revenue for fiscal 2024 was $1.77B.
  • Is AMRC profitable?
    Yes. Ameresco Inc. earned $63.00M in net income for the twelve months ended Sep 30, 2025, a net margin of 3.3%.
  • How much cash and debt does AMRC have?
    Ameresco Inc. reported $138.33M in cash and cash equivalents and $1.96B of debt on its most recent balance sheet in SEC filings.
  • How fast is AMRC revenue growing?
    Ameresco Inc.'s revenue changed +28.8% in fiscal 2024, to $1.77B. Its compound annual growth rate was +15.3% over 5 years and +11.6% over 10 years.
  • What is AMRC gross margin?
    Ameresco Inc.'s gross profit was $276.40M on $1.88B of revenue for the twelve months ended Sep 30, 2025, a gross margin of 14.7%.
  • What is AMRC free cash flow?
    Ameresco Inc. generated -$21.25M of free cash flow for the twelve months ended Sep 30, 2025, which is operating cash flow of -$19.09M less capital expenditures.
  • What is AMRC earnings per share?
    Diluted earnings per share were $1.20 for the twelve months ended Sep 30, 2025, from SEC filings, restated for any stock split those filings show.
  • When did AMRC last report financial results?
    The latest statements here come from Ameresco Inc.'s 10-Q filed on Aug 4, 2026, covering the period ended Jun 30, 2026.
  • Where does this AMRC financial data come from?
    Quantisnow builds these statements from the structured XBRL data Ameresco Inc. files with the SEC. It is provided for information only and is not investment advice.