Comfort Systems USA (FIX) FY2024 results: revenue $7.0 billion, up 35.0% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $7.0 billion for fiscal 2024, the year ended 31 December 2024, up 35.0% on the year before. Net income was $522 million, up 61.5%, and diluted earnings per share $14.60. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$7.0 billion
+35.0% on the year
FY2017FY2024
Operating margin
10.7%
8.0% a year earlier
FY2017FY2024
Net income
$522 million
+61.5% on the year
FY2017FY2024
Diluted EPS
$14.60
+62.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
849
640
302
+32.8%
Capital expenditure
111
94.8
48.4
+17.1%
Free cash flow
738
545
253
+35.5%
Free cash flow margin
10.5%
10.5%
6.1%
Cash from investing
-344
-193
-97.2
Cash from financing
-161
-299
-206
Depreciation and amortisation
48.2
38.2
33.6
+26.2%
Share-based compensation
16.6
12.9
10.5
+28.6%
Buybacks
57.9
21.2
38.2
+173.4%
Dividends paid
42.8
30.4
20.1
+40.8%
Dividend per share
$1.20
$0.85
$0.56
+41.2%
Diluted shares, weighted
36m
36m
36m
-0.3%
Shares outstanding at period end
36m
36m
36m
-0.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,705
1,278
1,000
+33.4%
Debt
68.3
44.2
256
+54.6%
Operating lease liabilities
212
188
112
+12.7%
Other liabilities
2,726
1,795
1,230
+51.8%
Total liabilities and equity
4,711
3,306
2,597
+42.5%
Fixed assets
277
209
144
+32.9%
Goodwill
875
667
612
+31.3%
Intangible assets
434
280
274
+54.9%
Cash and equivalents
550
205
57.2
+168.1%
Inventory
59.2
65.5
35.3
-9.6%
Other assets
2,515
1,879
1,475
+33.8%
Total assets
4,711
3,306
2,597
+42.5%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.