Emcor vs Fluor
Emcor reported revenue of $17.0 billion in fiscal 2025, about the same as Fluor's $15.5 billion in fiscal 2025. Emcor's revenue grew 16.6% in its latest year, and Fluor's fell 5.0%. Emcor had an operating margin of 10.1%, against -2.4% at Fluor. Free cash flow was $1.2 billion at Emcor and −$437 million at Fluor.
Side by side
| Emcor | Fluor | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $17.0B | $15.5B |
| Revenue growth | 16.6% | −5.0% |
| Revenue growth a year, last 5 years | 14.1% | −0.4% |
| Gross margin | 19.3% | −0.8% |
| Operating margin | 10.1% | −2.4% |
| Net margin | 7.5% | −0.3% |
| Free cash flow | $1.2B | −$437M |
| Free cash flow margin | 7.0% | −2.8% |
| Return on capital | 60.7% | −13.9% |
| Net debt to EBITDA | −0.6x | — |
| Dividends and buybacks | $631M | $754M |
| Change in diluted share count | −3.5% | −5.8% |
| Last close | $665.93 | $44.88 |
| P/E at the last close | 20.7× | — |
| Insider trades, last 12 months | bought $2,300, sold $40.8 million | sold $4.0 million |
| Piotroski F-score | 6 of 9 | 3 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
EmcorFluor
Operating margin
Percent of revenue
EmcorFluor
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
EmcorFluor