---
title: Emcor (EME) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/eme
ticker: EME
as_of: 2026-10-17
sector: Industrials
industry: Engineering & Construction
---
# Emcor (EME)

Emcor (EME) closed at $721.66 on Oct 16, 2026, overvalued by 25% vs its model value of $577.52 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $721.66 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $577.52 |
| Price vs model | overvalued by 25% vs model |
| Range of that model | $403.39 – $1,091.30 |
| Market value | $31.8B |
| P/E (fiscal 2025) | 25.6 |
| Net margin (fiscal 2025) | 7.5% |
| Free cash flow (fiscal 2025) | $1.2B |
| Dividend yield (trailing twelve months) | 0.22% |
| Beta | 1.12 |
| Cost of capital (WACC) | 9.56% |
| Business classification | Profitable Growth (Moderate growth (~16% recent), Moderate margins (7% net margin), Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.22% |
| Dividends per share, last 12 months | $1.60 |
| Dividends / free cash flow (fiscal 2025) | 3.8% |
| Raised | 5 years in a row |
| Growth over 5 years | 25.2% a year |
| Latest payment | $0.40, ex-date Oct 15, 2026, paid Oct 30, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 14, 2021 | $0.52 |
| To Oct 17, 2022 | $0.54 |
| To Oct 13, 2023 | $0.69 |
| To Oct 15, 2024 | $0.93 |
| To Oct 15, 2025 | $1.00 |
| Trailing twelve months (to Oct 15, 2026) | $1.60 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $577.52 | $403.39 | $1,091.30 |
| DCF · Perpetuity growth · 10y | cross check | $636.23 | $450.62 | $1,175.88 |
| DCF · EBITDA exit · 5y | cross check | $1,091.89 | $853.78 | $1,370.11 |
| DCF · EBITDA exit · 10y | cross check | $1,078.69 | $804.64 | $1,438.05 |
| P/E · peers | cross check | $987.93 | $986.82 | $1,220.66 |
| P/E · own history | cross check | $780.63 | $576.90 | $873.26 |
| PEG | sanity check | $478.60 | $478.60 | $478.60 |
| EV/EBITDA · peers | cross check | $1,170.04 | $1,064.57 | $1,381.50 |
| EV/Revenue · peers | cross check | $1,329.77 | $1,108.06 | $1,880.12 |
| Earnings power value | cross check | $172.34 | $152.30 | $199.83 |
| Dividend discount | cross check | $27.56 | $18.89 | $41.75 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Jul 31, 2026 | Altmeyer John W | Director | Grant / award | 3 | $0 |
| Jul 31, 2026 | Nalbandian Jason R | SVP, Chief Acct Officer & CFO | Grant / award | 4 | $0 |
| Jul 31, 2026 | Mauricio Maxine Lum | CAO, EVP & General Counsel | Grant / award | 4 | $0 |
| Jul 31, 2026 | Guzzi Anthony | Chairman, President and CEO | Grant / award | 13 | $0 |
| Jun 17, 2026 | Lowe Carol P | Director | Open-market sell | 950 | $802,275 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Jul 31, 2026 | 8-K | 1.04 Mine Safety | https://www.sec.gov/Archives/edgar/data/105634/000010563426000115/eme-20260728.htm |
| Jul 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/105634/000010563426000112/eme-20260730.htm |
| Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/105634/000010563426000110/eme-20260630.htm |
| Jun 4, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/105634/000010563426000085/eme-20260604.htm |
| Apr 29, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/105634/000010563426000048/eme-20260429.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Polen Capital | 2026-06-30 | 103,123 | $85.6M |
| Bridgewater | 2026-06-30 | 32,248 | $26.8M |
| Soros | 2026-06-30 | 259 | $214,939 |

3 tracked managers in all.

## About

EMCOR Group, Inc. specializes in delivering comprehensive electrical and mechanical construction services, alongside integrated facilities management solutions, primarily serving clients across the United States and the United Kingdom. The company's construction expertise spans the entire project lifecycle, encompassing initial design and integration through installation, commissioning, operation, and ongoing maintenance. This includes vital electrical infrastructure such as power transmission, distribution, and generation systems, advanced energy efficiency solutions, and premise-specific electrical and lighting systems. They also implement sophisticated process instrumentation for critical industries like refining, chemical processing, and food production, in addition to low-voltage networks covering fire alarms, security, process controls, and voice/data communications. Furthermore, E…

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Source: https://sweetvaluelab.com/stocks/eme (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.