Comfort Systems USA (FIX) FY2023 results: revenue $5.2 billion, up 25.8% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $5.2 billion for fiscal 2023, the year ended 31 December 2023, up 25.8% on the year before. Net income was $323 million, up 31.5%, and diluted earnings per share $9.01. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$5.2 billion
+25.8% on the year
FY2016FY2023
Operating margin
8.0%
6.1% a year earlier
FY2016FY2023
Net income
$323 million
+31.5% on the year
FY2016FY2023
Diluted EPS
$9.01
+32.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
640
302
180
+112.1%
Capital expenditure
94.8
48.4
22.3
+96.1%
Free cash flow
545
253
158
+115.2%
Free cash flow margin
10.5%
6.1%
5.1%
Cash from investing
-193
-97.2
-247
Cash from financing
-299
-206
70.5
Depreciation and amortisation
38.2
33.6
28.4
+13.7%
Share-based compensation
12.9
10.5
10.6
+22.9%
Buybacks
21.2
38.2
27.1
-44.6%
Dividends paid
30.4
20.1
17.4
+51.3%
Dividend per share
$0.85
$0.56
$0.48
+51.8%
Diluted shares, weighted
36m
36m
36m
-0.4%
Shares outstanding at period end
36m
36m
36m
-0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,278
1,000
806
+27.8%
Debt
44.2
256
388
-82.7%
Operating lease liabilities
188
112
108
+68.4%
Other liabilities
1,795
1,230
908
+46.0%
Total liabilities and equity
3,306
2,597
2,209
+27.3%
Fixed assets
209
144
129
+44.9%
Goodwill
667
612
592
+9.0%
Intangible assets
280
274
305
+2.4%
Cash and equivalents
205
57.2
58.8
+258.6%
Inventory
65.5
35.3
21.9
+85.6%
Other assets
1,879
1,475
1,103
+27.4%
Total assets
3,306
2,597
2,209
+27.3%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.