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US equity markets/AI Value chain/FIX

Comfort Systems USA

FIX·NYSE·USD

1,288.61+44.42 (+3.57%)
Regular-session close·Definitions
Price history1997-06-27 — 2026-10-23Valid trading days: 7,377 · Through 2026-10-23 · All expected dates in this range are present · History update delayed
Operating history2024-03-31 — 2026-09-3010 historical metrics · 11 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The history starts with the provider’s first actual observation; this starting point is not a verified initial listing date.

The earliest available price is not proof of the listing date. Coverage since listing remains unverified.

Trading dates checked for 1997-06-27 — 2026-10-23: all 7,377 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

Original verification records

first-provider-observation-listing-date-not-verified

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

Issuer confirms IPO completion July 2, 1997; completion is not asserted as the first trading date.

View sources and versions ↗

Price and operations

Public research
11 quarters of cash flow, earnings and working-capital contributions; all metrics are recalculated from archived filings.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 3
Available metrics: 10

Financials and cash flow

Last value in range
FIX Share priceTrading day
USD5001k1.5k2k2.5k1,160.86
Operating cash flowQuarterly observations
USD million05001k1.5k1.01k
Cash capital expenditureQuarterly observations
USD million0100200300211
Free cash flowQuarterly observations
USD million05001k25.10.2326.01.0126.04.0126.07.0126.10.23800

Time rangeFIX Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

7377 valid price observations · 3 operating metricsFull analysis workspace
Underlying data Operating metrics: 3
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endOperating cash flowUSD million · Reported values and calculations from disclosuresCash capital expenditureUSD million · Reported values and calculations from disclosuresFree cash flowUSD million · Calculated from disclosures
2026-09-302026Q31,010.13
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 2 items
Operating cash flow
1,010.126
Input source document
Operating cash flow
value
1,010.126
Original unit
USDm
Period start
2026-07-01
Period end
2026-09-30
derived
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
1
fix-2026-06-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
2,538.38
Original unit
USDm
Period start
2026-01-01
Period end
2026-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
sourceFile
2026-09-30-10-Q.html
contextRef
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Input sign
1
1
value
1,528.254
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
-1
Comfort Systems USA 2026-09-30 10-QComfort Systems USA 2026-06-30 10-Q
210.60
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 2 items
Cash capital expenditure
210.6
Input source document
Cash capital expenditure
value
210.6
Original unit
USDm
Period start
2026-07-01
Period end
2026-09-30
derived
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
1
fix-2026-06-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
499.437
Original unit
USDm
Period start
2026-01-01
Period end
2026-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
sourceFile
2026-09-30-10-Q.html
contextRef
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Input sign
1
1
value
288.837
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
-1
Comfort Systems USA 2026-09-30 10-QComfort Systems USA 2026-06-30 10-Q
799.53
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 3 items
Operating cash flow
1,010.126
Cash capital expenditure
210.6
Input source document
Operating cash flow
value
1,010.126
Original unit
USDm
Period start
2026-07-01
Period end
2026-09-30
derived
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
1
fix-2026-06-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
2,538.38
Original unit
USDm
Period start
2026-01-01
Period end
2026-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
sourceFile
2026-09-30-10-Q.html
contextRef
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Input sign
1
1
value
1,528.254
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
-1
Cash capital expenditure
value
210.6
Original unit
USDm
Period start
2026-07-01
Period end
2026-09-30
derived
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
1
fix-2026-06-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
499.437
Original unit
USDm
Period start
2026-01-01
Period end
2026-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-10-22
sourceIds
0
fix-2026-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
sourceFile
2026-09-30-10-Q.html
contextRef
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Input sign
1
1
value
288.837
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
-1
Comfort Systems USA 2026-09-30 10-QComfort Systems USA 2026-06-30 10-Q
2026-06-302026Q21,139.43
Basis · Calculated from disclosures

Source version date: 2026-07-23

View calculation inputs · 2 items
Operating cash flow
1,139.426
Input source document
Operating cash flow
value
1,139.426
Original unit
USDm
Period start
2026-04-01
Period end
2026-06-30
derived
Yes
Calculation method
2026-06-30 YTD less 2026-03-31 YTD
Original XBRL field
Not disclosed
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
1
fix-2026-03-31
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
1,528.254
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
1
1
value
388.828
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Input sign
-1
Comfort Systems USA 2026-06-30 10-QComfort Systems USA 2026-03-31 10-Q
141.36
Basis · Calculated from disclosures

Source version date: 2026-07-23

View calculation inputs · 2 items
Cash capital expenditure
141.364
Input source document
Cash capital expenditure
value
141.364
Original unit
USDm
Period start
2026-04-01
Period end
2026-06-30
derived
Yes
Calculation method
2026-06-30 YTD less 2026-03-31 YTD
Original XBRL field
Not disclosed
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
1
fix-2026-03-31
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
288.837
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
1
1
value
147.473
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Input sign
-1
Comfort Systems USA 2026-06-30 10-QComfort Systems USA 2026-03-31 10-Q
998.06
Basis · Calculated from disclosures

Source version date: 2026-07-23

View calculation inputs · 3 items
Operating cash flow
1,139.426
Cash capital expenditure
141.364
Input source document
Operating cash flow
value
1,139.426
Original unit
USDm
Period start
2026-04-01
Period end
2026-06-30
derived
Yes
Calculation method
2026-06-30 YTD less 2026-03-31 YTD
Original XBRL field
Not disclosed
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
1
fix-2026-03-31
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
1,528.254
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
1
1
value
388.828
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Input sign
-1
Cash capital expenditure
value
141.364
Original unit
USDm
Period start
2026-04-01
Period end
2026-06-30
derived
Yes
Calculation method
2026-06-30 YTD less 2026-03-31 YTD
Original XBRL field
Not disclosed
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
1
fix-2026-03-31
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
288.837
Original unit
USDm
Period start
2026-01-01
Period end
2026-06-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-07-23
sourceIds
0
fix-2026-06-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
sourceFile
2026-06-30-10-Q.html
contextRef
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Input sign
1
1
value
147.473
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Input sign
-1
Comfort Systems USA 2026-06-30 10-QComfort Systems USA 2026-03-31 10-Q
2026-03-312026Q1388.83
Basis · Reported data

Source version date: 2026-04-23

View calculation inputs · 2 items
Operating cash flow
388.828
Input source document
Operating cash flow
value
388.828
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Comfort Systems USA 2026-03-31 10-Q
147.47
Basis · Reported data

Source version date: 2026-04-23

View calculation inputs · 2 items
Cash capital expenditure
147.473
Input source document
Cash capital expenditure
value
147.473
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Comfort Systems USA 2026-03-31 10-Q
241.36
Basis · Calculated from disclosures

Source version date: 2026-04-23

View calculation inputs · 3 items
Operating cash flow
388.828
Cash capital expenditure
147.473
Input source document
Operating cash flow
value
388.828
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Cash capital expenditure
value
147.473
Original unit
USDm
Period start
2026-01-01
Period end
2026-03-31
derived
No
Calculation method
reported-3M
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-04-23
sourceIds
0
fix-2026-03-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926047689/fix-20260331x10q.htm
sourceFile
2026-03-31-10-Q.html
contextRef
Duration_1_1_2026_To_3_31_2026_MEBAtFK-xku5G_tndZklWg
Comfort Systems USA 2026-03-31 10-Q
2025-12-312025Q4468.54
Basis · Calculated from disclosures

Source version date: 2026-02-19

View calculation inputs · 2 items
Operating cash flow
468.54
Input source document
Operating cash flow
value
468.54
Original unit
USDm
Period start
2025-10-01
Period end
2025-12-31
derived
Yes
Calculation method
2025-12-31 YTD less 2025-09-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
1
fix-2025-09-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
1,186.356
Original unit
USDm
Period start
2025-01-01
Period end
2025-12-31
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926017530/fix-20251231x10k.htm
sourceFile
2025-12-31-10-K.html
contextRef
Duration_1_1_2025_To_12_31_2025_iRcRbidoh0-AvPUH5g4aeQ
Input sign
1
1
value
717.816
Original unit
USDm
Period start
2025-01-01
Period end
2025-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2025-10-23
sourceIds
0
fix-2025-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465925101821/fix-20250930x10q.htm
sourceFile
2025-09-30-10-Q.html
contextRef
Duration_1_1_2025_To_9_30_2025_2k316ZHo506oI1GFfDGOIA
Input sign
-1
Comfort Systems USA 2025-12-31 10-KComfort Systems USA 2025-09-30 10-Q
66.09
Basis · Calculated from disclosures

Source version date: 2026-02-19

View calculation inputs · 2 items
Cash capital expenditure
66.09
Input source document
Cash capital expenditure
value
66.09
Original unit
USDm
Period start
2025-10-01
Period end
2025-12-31
derived
Yes
Calculation method
2025-12-31 YTD less 2025-09-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
1
fix-2025-09-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
154.903
Original unit
USDm
Period start
2025-01-01
Period end
2025-12-31
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926017530/fix-20251231x10k.htm
sourceFile
2025-12-31-10-K.html
contextRef
Duration_1_1_2025_To_12_31_2025_iRcRbidoh0-AvPUH5g4aeQ
Input sign
1
1
value
88.813
Original unit
USDm
Period start
2025-01-01
Period end
2025-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2025-10-23
sourceIds
0
fix-2025-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465925101821/fix-20250930x10q.htm
sourceFile
2025-09-30-10-Q.html
contextRef
Duration_1_1_2025_To_9_30_2025_2k316ZHo506oI1GFfDGOIA
Input sign
-1
Comfort Systems USA 2025-12-31 10-KComfort Systems USA 2025-09-30 10-Q
402.45
Basis · Calculated from disclosures

Source version date: 2026-02-19

View calculation inputs · 3 items
Operating cash flow
468.54
Cash capital expenditure
66.09
Input source document
Operating cash flow
value
468.54
Original unit
USDm
Period start
2025-10-01
Period end
2025-12-31
derived
Yes
Calculation method
2025-12-31 YTD less 2025-09-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
1
fix-2025-09-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
1,186.356
Original unit
USDm
Period start
2025-01-01
Period end
2025-12-31
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926017530/fix-20251231x10k.htm
sourceFile
2025-12-31-10-K.html
contextRef
Duration_1_1_2025_To_12_31_2025_iRcRbidoh0-AvPUH5g4aeQ
Input sign
1
1
value
717.816
Original unit
USDm
Period start
2025-01-01
Period end
2025-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
publishedAt
2025-10-23
sourceIds
0
fix-2025-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465925101821/fix-20250930x10q.htm
sourceFile
2025-09-30-10-Q.html
contextRef
Duration_1_1_2025_To_9_30_2025_2k316ZHo506oI1GFfDGOIA
Input sign
-1
Cash capital expenditure
value
66.09
Original unit
USDm
Period start
2025-10-01
Period end
2025-12-31
derived
Yes
Calculation method
2025-12-31 YTD less 2025-09-30 YTD
Original XBRL field
Not disclosed
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
1
fix-2025-09-30
sourceUrl
Not disclosed
sourceFile
Not disclosed
contextRef
Not disclosed
inputs
0
value
154.903
Original unit
USDm
Period start
2025-01-01
Period end
2025-12-31
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2026-02-19
sourceIds
0
fix-2025-12-31
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465926017530/fix-20251231x10k.htm
sourceFile
2025-12-31-10-K.html
contextRef
Duration_1_1_2025_To_12_31_2025_iRcRbidoh0-AvPUH5g4aeQ
Input sign
1
1
value
88.813
Original unit
USDm
Period start
2025-01-01
Period end
2025-09-30
derived
No
Calculation method
reported-cumulative-duration
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
publishedAt
2025-10-23
sourceIds
0
fix-2025-09-30
sourceUrl
https://www.sec.gov/Archives/edgar/data/1035983/000110465925101821/fix-20250930x10q.htm
sourceFile
2025-09-30-10-Q.html
contextRef
Duration_1_1_2025_To_9_30_2025_2k316ZHo506oI1GFfDGOIA
Input sign
-1
Comfort Systems USA 2025-12-31 10-KComfort Systems USA 2025-09-30 10-Q
Calculations and sources 3 items
Operating cash flowUSD million · Reported values and calculations from disclosures
Calculation basis

Single-quarter financial data, including cumulative reconstructions. Filed data; single-quarter cash flow is derived by subtracting cumulative amounts.

Reading guide

Single-quarter basis; original financial periods and the filing dates used are retained.

Data classification

Reported values and calculations from disclosures · USD million

Cash capital expenditureUSD million · Reported values and calculations from disclosures
Calculation basis

Single-quarter financial data, including cumulative reconstructions. Filed data; single-quarter cash flow is derived by subtracting cumulative amounts.

Reading guide

Single-quarter basis; original financial periods and the filing dates used are retained.

Data classification

Reported values and calculations from disclosures · USD million

Free cash flowUSD million · Calculated from disclosures
Calculation basis

CFO − cash purchases of PP&E

Reading guide

Free cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.

Data classification

Calculated from disclosures · USD million

Research context · FIX

Operating balance movements and capital investment explain two separate cash-flow changes

View operating trends ↗

How much of the improvement in operating cash flow comes from project earnings, and how much from customer advances and supplier payment terms?

Current-period facts

Operating cash flow decreased by 129.30 million USD quarter over quarter: the contribution from changes in operating balances decreased by 170.17 million USD, while cash flow before those changes increased by 40.87 million USD. Cash capital expenditure increased by 69.24 million USD over the same period, leaving FCF decreased by 198.54 million USD quarter over quarter. The figure before changes in operating balances still includes non-cash adjustments and cannot be treated directly as sustainable cash flow.

Source document ↗Source document 2 ↗Source document 3 ↗
Current evidence, comparable changes and implications
Operating observationsCurrent valueComparable changes and historical contextWhy it matters
Operating balance contribution / CFO Calculated from disclosures2026Q3 · 2026-09-3045.23 %
QoQ
-9.80 percentage pointsCompared with 2026-06-30 · 55.03
YoY
+10.05 percentage pointsCompared with 2025-09-30 · 35.18

Fewer than 8 consecutive comparable quarters; no historical ranking.

Contract liabilities contribute 631.19 million USD of cash; receivables account for -533.85 million USD and payables and accruals contribute 465.94 million USD. The current ratio includes all changes in operating balances.

Original inputs and sources 2026-10-22

Current-period calculation:YTD-difference-and-signed-operating-balance-sum
Metric definition:Total cash contribution from changes in operating assets and liabilities ÷ CFO × 100; When CFO is negative, the ratio may be negative or exceed 100%. Read it alongside the cash-flow bridge; do not treat it as a quality score.

Contribution from operating balance movements
456.845000
Operating cash flow
1,010.126000
Operating cash-flow evidence
Value
1,010.126000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Source tag
Not recorded
Source date
2026-10-22
Source references
0
fix-2026-09-30
1
fix-2026-06-30
Source link
Not recorded
Supporting calculations
Not recorded
Source context reference
Not recorded
Calculation inputs
0
Value
2,538.380000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Cash-flow sign
1.000000
1
Value
1,528.254000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-06-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-07-23
Source references
0
fix-2026-06-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
Supporting calculations
2026-06-30-10-Q.html
Source context reference
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Cash-flow sign
-1.000000
Signed quarterly change
Receivables
-533.851000
Inventory
-15.467000
Prepaid and other assets
-32.689000
Contract assets
-58.351000
Other operating assets
-2.115000
Payables and accrued expenses
465.942000
Contract liabilities
631.190000
Other operating liabilities
2.186000
Current year to date
Receivables
-1,166.982000
Inventory
-36.205000
Prepaid and other assets
-32.692000
Contract assets
-107.980000
Other operating assets
-5.244000
Payables and accrued expenses
681.439000
Contract liabilities
1,692.696000
Other operating liabilities
-5.853000
Prior quarter year to date
Receivables
-633.131000
Inventory
-20.738000
Prepaid and other assets
-0.003000
Contract assets
-49.629000
Other operating assets
-3.129000
Payables and accrued expenses
215.497000
Contract liabilities
1,061.506000
Other operating liabilities
-8.039000
Calculation method
Current-period YTD minus prior-quarter YTD. Increases in operating assets contribute negatively; increases in operating liabilities contribute positively.
Original evidence
0
Period-start date
2026-01-01
Period-end date
2026-09-30
Cash-flow sign
1.000000
Unit
USDm
Original value
Receivables
-1,166.982000
Inventory
-36.205000
Prepaid and other assets
-32.692000
Contract assets
-107.980000
Other operating assets
-5.244000
Payables and accrued expenses
681.439000
Contract liabilities
1,692.696000
Other operating liabilities
-5.853000
Source references
0
fix-2026-09-30
1
Period-start date
2026-01-01
Period-end date
2026-06-30
Cash-flow sign
-1.000000
Unit
USDm
Original value
Receivables
-633.131000
Inventory
-20.738000
Prepaid and other assets
-0.003000
Contract assets
-49.629000
Other operating assets
-3.129000
Payables and accrued expenses
215.497000
Contract liabilities
1,061.506000
Other operating liabilities
-8.039000
Source references
0
fix-2026-06-30

Original documents for the current, comparison and historical periods:

Source document ↗Source document 2 ↗Source document 3 ↗Source document 4 ↗Source document 5 ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

Cash flow before operating balance movements Calculated from disclosures2026Q3 · 2026-09-30553.28 USD million
QoQ
+40.87 USD millionCompared with 2026-06-30 · 512.41
YoY
+194.64 USD millionCompared with 2025-09-30 · 358.65
Rank 11 / 11 over the last 11 quarters (ascending)144.87 — 553.28 USD million2024-03-31 to 2026-09-30

CFO of 1,010.13 million USD − 456.85 million USD contributed by changes in operating balances. Non-cash adjustments remain included; this is not normalized cash flow.

Original inputs and sources 2026-10-22

Current-period calculation:YTD-difference-and-signed-operating-balance-sum
Metric definition:CFO − total cash contribution from changes in operating assets and liabilities; A diagnostic value assuming zero changes in operating balances, not an estimate of sustainable CFO.

Operating cash flow
1,010.126000
Operating cash-flow evidence
Value
1,010.126000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Source tag
Not recorded
Source date
2026-10-22
Source references
0
fix-2026-09-30
1
fix-2026-06-30
Source link
Not recorded
Supporting calculations
Not recorded
Source context reference
Not recorded
Calculation inputs
0
Value
2,538.380000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Cash-flow sign
1.000000
1
Value
1,528.254000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-06-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-07-23
Source references
0
fix-2026-06-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
Supporting calculations
2026-06-30-10-Q.html
Source context reference
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Cash-flow sign
-1.000000
Contribution from operating balance movements
456.845000
Signed quarterly change
Receivables
-533.851000
Inventory
-15.467000
Prepaid and other assets
-32.689000
Contract assets
-58.351000
Other operating assets
-2.115000
Payables and accrued expenses
465.942000
Contract liabilities
631.190000
Other operating liabilities
2.186000
Current year to date
Receivables
-1,166.982000
Inventory
-36.205000
Prepaid and other assets
-32.692000
Contract assets
-107.980000
Other operating assets
-5.244000
Payables and accrued expenses
681.439000
Contract liabilities
1,692.696000
Other operating liabilities
-5.853000
Prior quarter year to date
Receivables
-633.131000
Inventory
-20.738000
Prepaid and other assets
-0.003000
Contract assets
-49.629000
Other operating assets
-3.129000
Payables and accrued expenses
215.497000
Contract liabilities
1,061.506000
Other operating liabilities
-8.039000
Calculation method
Current-period YTD minus prior-quarter YTD. Increases in operating assets contribute negatively; increases in operating liabilities contribute positively.
Original evidence
0
Period-start date
2026-01-01
Period-end date
2026-09-30
Cash-flow sign
1.000000
Unit
USDm
Original value
Receivables
-1,166.982000
Inventory
-36.205000
Prepaid and other assets
-32.692000
Contract assets
-107.980000
Other operating assets
-5.244000
Payables and accrued expenses
681.439000
Contract liabilities
1,692.696000
Other operating liabilities
-5.853000
Source references
0
fix-2026-09-30
1
Period-start date
2026-01-01
Period-end date
2026-06-30
Cash-flow sign
-1.000000
Unit
USDm
Original value
Receivables
-633.131000
Inventory
-20.738000
Prepaid and other assets
-0.003000
Contract assets
-49.629000
Other operating assets
-3.129000
Payables and accrued expenses
215.497000
Contract liabilities
1,061.506000
Other operating liabilities
-8.039000
Source references
0
fix-2026-06-30

Original documents for the current, comparison and historical periods:

Source document ↗Source document 2 ↗Source document 3 ↗Source document 4 ↗Source document 5 ↗Source document 6 ↗Source document 7 ↗Source document 8 ↗Source document 9 ↗Source document 10 ↗Source document 11 ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

Cash capital expenditure Calculated from disclosures2026Q3 · 2026-09-30210.60 USD million
QoQ
+69.24 USD millionCompared with 2026-06-30 · 141.36
YoY
+175.27 USD millionCompared with 2025-09-30 · 35.33
Rank 11 / 11 over the last 11 quarters (ascending)22.06 — 210.60 USD million2024-03-31 to 2026-09-30

Cash purchases of PP&E of 210.60 million USD use cash from the same period as CFO. Depreciation does not substitute for cash investment.

Original inputs and sources 2026-10-22

Current-period calculation:2026-09-30 YTD less 2026-06-30 YTD
Metric definition:Filed data; quarterly cash flow is reconstructed from differences in cumulative values；Single-quarter basis; original financial periods and the filing dates used are retained.

Cash purchases of PP&E
210.600000
Original evidence
Cash purchases of PP&E
Value
210.600000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Source tag
Not recorded
Source date
2026-10-22
Source references
0
fix-2026-09-30
1
fix-2026-06-30
Source link
Not recorded
Supporting calculations
Not recorded
Source context reference
Not recorded
Calculation inputs
0
Value
499.437000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Cash-flow sign
1.000000
1
Value
288.837000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-06-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Source date
2026-07-23
Source references
0
fix-2026-06-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
Supporting calculations
2026-06-30-10-Q.html
Source context reference
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Cash-flow sign
-1.000000

Original documents for the current, comparison and historical periods:

Source document ↗Source document 2 ↗Source document 3 ↗Source document 4 ↗Source document 5 ↗Source document 6 ↗Source document 7 ↗Source document 8 ↗Source document 9 ↗Source document 10 ↗Source document 11 ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

Free cash-flow margin Calculated from disclosures2026Q3 · 2026-09-3021.23 %
QoQ
-9.33 percentage pointsCompared with 2026-06-30 · 30.56
YoY
+0.10 percentage pointsCompared with 2025-09-30 · 21.13
Rank 10 / 11 over the last 11 quarters (ascending)-6.02 — 30.56 %2024-03-31 to 2026-09-30

CFO less cash purchases of PP&E, divided by revenue. Project receipt and payment timing still affects this ratio.

Original inputs and sources 2026-10-22

Current-period calculation:(CFO − cash purchases of PP&E) ÷ revenue × 100
Metric definition:(CFO − cash purchases of PP&E) ÷ revenue × 100; Free cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.

Operating cash flow
1,010.126000
Cash purchases of PP&E
210.600000
Revenue
3,766.302000
Original evidence
Operating cash flow
Value
1,010.126000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Source tag
Not recorded
Source date
2026-10-22
Source references
0
fix-2026-09-30
1
fix-2026-06-30
Source link
Not recorded
Supporting calculations
Not recorded
Source context reference
Not recorded
Calculation inputs
0
Value
2,538.380000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Cash-flow sign
1.000000
1
Value
1,528.254000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-06-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:NetCashProvidedByUsedInOperatingActivities
Source date
2026-07-23
Source references
0
fix-2026-06-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
Supporting calculations
2026-06-30-10-Q.html
Source context reference
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Cash-flow sign
-1.000000
Cash purchases of PP&E
Value
210.600000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
Yes
Calculation method
2026-09-30 YTD less 2026-06-30 YTD
Source tag
Not recorded
Source date
2026-10-22
Source references
0
fix-2026-09-30
1
fix-2026-06-30
Source link
Not recorded
Supporting calculations
Not recorded
Source context reference
Not recorded
Calculation inputs
0
Value
499.437000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_1_1_2026_To_9_30_2026_DoOZxJxIzkW-7KEPcQMJcg
Cash-flow sign
1.000000
1
Value
288.837000
Unit
USDm
Period-start date
2026-01-01
Period-end date
2026-06-30
Calculated value
No
Calculation method
reported-cumulative-duration
Source tag
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Source date
2026-07-23
Source references
0
fix-2026-06-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/fix-20260630x10q.htm
Supporting calculations
2026-06-30-10-Q.html
Source context reference
Duration_1_1_2026_To_6_30_2026_qLeUArMIpUWVv_OTgCNx0Q
Cash-flow sign
-1.000000
Revenue
Value
3,766.302000
Unit
USDm
Period-start date
2026-07-01
Period-end date
2026-09-30
Calculated value
No
Calculation method
reported-3M
Source tag
us-gaap:Revenues
Source date
2026-10-22
Source references
0
fix-2026-09-30
Source link
https://www.sec.gov/Archives/edgar/data/1035983/000110465926118159/fix-20260930x10q.htm
Supporting calculations
2026-09-30-10-Q.html
Source context reference
Duration_7_1_2026_To_9_30_2026_aq9vWgncE0-ApRR1fC4reA

Original documents for the current, comparison and historical periods:

Source document ↗Source document 2 ↗Source document 3 ↗Source document 4 ↗Source document 5 ↗Source document 6 ↗Source document 7 ↗Source document 8 ↗Source document 9 ↗Source document 10 ↗Source document 11 ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

What to check in the next disclosure

Updates follow actual announcements; no earnings date is assumed.
Current counterevidence

Cash flow before changes in operating balances increased by 40.87 million USD quarter over quarter and increased by 194.64 million USD year over year. This change needs to be explained separately from the contribution of customer advances; not all cash flow growth can be attributed to advance receipts.

Source document ↗Source document 2 ↗Source document 3 ↗Source document 4 ↗Source document 5 ↗

Is support from operating balances fading?

Operating balance contribution / CFO
45.23 %2026-09-30 · Calculated from disclosures
Cash flow before operating balance movements
553.28 USD million2026-09-30 · Calculated from disclosures
Next check

Continue reconciling all operating balance movements in subsequent cash-flow statements on the same basis.

Conditions that would change the assessment

A smaller balance contribution alongside higher cash before balance movements would weaken the claim that growth depends only on new advances.

Can earnings fund reinvestment?

Cash capital expenditure
210.60 USD million2026-09-30 · Calculated from disclosures
Free cash-flow margin
21.23 %2026-09-30 · Calculated from disclosures
Next check

Reconcile cash purchases of PP&E and subsequent delivery collections.

Conditions that would change the assessment

If capital expenditure keeps rising while the FCF margin falls, current cash cannot be extrapolated unchanged. Lower capital expenditure alone does not establish stronger demand.

Mechanisms, counterarguments and evidence limits

  1. Delivery and recognition

    Project progress generates revenue and profit; amounts not yet billed or collected still tie up capital.

    View the corresponding series

  2. Receipts, payments and cash

    Customer advances and higher payables provide cash; higher receivables and contract assets absorb it. Assess the net movement alongside profit.

    View the corresponding series

  3. Cash available to shareholders

    After capital expenditure, cash must still fund remaining obligations, taxes and other capital needs. One quarter of FCF cannot be extrapolated unchanged into a valuation.

    View the corresponding series

Strongest alternative explanation

Rising advances may also indicate customer commitment and bargaining power. If deliveries and collections continue, advance-funded expansion can be an operating advantage; a large cash contribution alone does not establish poor earnings quality.

Missing evidenceRemaining project-level fulfillment costs and payment schedules are not itemized in the current data, so quarter-end cash cannot be treated directly as distributable cash.

The operating balance contribution comes from cash-flow statement movements, not a simple change in balance-sheet working capital. Quarter-over-quarter and year-over-year comparisons check fiscal-quarter labels and actual date intervals. Historical positions use at least 8 and at most 12 consecutive comparable quarters, ranked from low to high. Working-capital contribution ratios are not compared when CFO is non-positive. This is neither a peer ranking nor a valuation percentile.

Business and research scope

How the business turns into revenue and cash, and what the available evidence can establish.

Company website ↗

Comfort Systems USA provides mechanical, electrical and plumbing installation, maintenance and modular-construction services to commercial, industrial and institutional customers. Research focuses on backlog conversion, project working capital and cash collection.

Engineering installation and maintenance

Delivery progress on mechanical, electrical and plumbing projects connects revenue recognition with construction spending.

Revenue ↗Trade working capital ↗

Methodology limitationsProject revenue growth should be assessed alongside changes in receivables, contract assets and customer advances.

Company profile and filings
Legal name
COMFORT SYSTEMS USA, INC.
Exchange / quote currency
NYSE / USD
Reporting currency
USD
Source industry classification
Engineering & Construction
Financial period end / Source version used
2026-09-30 / 2026-10-22
Value-chain roles (not revenue shares)
Electrical engineering and grids
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.
GEVGE Vernova895.08+4.67%ETNEaton384.20+3.30%PWRQuanta Services578.83+2.64%EMEEMCOR Group, Inc.666.36+0.06%HUBBHubbell Inc434.28-5.47%
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

1,288.61 +3.57%
2026-07-23 — 2026-10-23Price change over the selected period -36.60%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD1,0001,2001,4001,6001,8002,0001,160.86Volume · shares2026-07-23 Volume 729,300 shares2026-07-24 Volume 737,600 shares2026-07-27 Volume 632,500 shares2026-07-28 Volume 671,400 shares2026-07-29 Volume 770,800 shares2026-07-30 Volume 694,400 shares2026-07-31 Volume 392,300 shares2026-08-03 Volume 391,500 shares2026-08-04 Volume 553,600 shares2026-08-05 Volume 441,200 shares2026-08-06 Volume 391,800 shares2026-08-07 Volume 341,200 shares2026-08-10 Volume 271,900 shares2026-08-11 Volume 394,400 shares2026-08-12 Volume 315,900 shares2026-08-13 Volume 309,400 shares2026-08-14 Volume 375,200 shares2026-08-17 Volume 451,200 shares2026-08-18 Volume 476,100 shares2026-08-19 Volume 434,400 shares2026-08-20 Volume 359,900 shares2026-08-21 Volume 370,000 shares2026-08-24 Volume 451,100 shares2026-08-25 Volume 426,600 shares2026-08-26 Volume 346,400 shares2026-08-27 Volume 347,400 shares2026-08-28 Volume 357,100 shares2026-08-31 Volume 510,900 shares2026-09-01 Volume 349,500 shares2026-09-02 Volume 328,700 shares2026-09-03 Volume 265,800 shares2026-09-04 Volume 276,900 shares2026-09-08 Volume 352,400 shares2026-09-09 Volume 265,800 shares2026-09-10 Volume 212,700 shares2026-09-11 Volume 320,800 shares2026-09-14 Volume 366,300 shares2026-09-15 Volume 301,300 shares2026-09-16 Volume 250,600 shares2026-09-17 Volume 276,000 shares2026-09-18 Volume 831,300 shares2026-09-21 Volume 337,000 shares2026-09-22 Volume 295,300 shares2026-09-23 Volume 236,300 shares2026-09-24 Volume 217,300 shares2026-09-25 Volume 227,800 shares2026-09-28 Volume 334,300 shares2026-09-29 Volume 275,000 shares2026-09-30 Volume 298,700 shares2026-10-01 Volume 303,000 shares2026-10-02 Volume 276,600 shares2026-10-05 Volume 255,700 shares2026-10-06 Volume 443,400 shares2026-10-07 Volume 367,000 shares2026-10-08 Volume 373,200 shares2026-10-09 Volume 204,300 shares2026-10-12 Volume 267,000 shares2026-10-13 Volume 459,100 shares2026-10-14 Volume 450,000 shares2026-10-15 Volume 842,700 shares2026-10-16 Volume 374,900 shares2026-10-19 Volume 384,600 shares2026-10-20 Volume 536,600 shares2026-10-21 Volume 441,300 shares2026-10-22 Volume 863,200 shares2026-10-23 Volume 1,367,300 shares1.4M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 7377 / trading dates: 7377Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
1,244.19
Session open
1,261.40
Session range
1,242.41 – 1,291.26
Session volume
0.53 M
20 Average daily volume
0.46 M
Historical range
1.65 – 2,073.99

Valuation and cash

Market cap · USD
46.88 B
Price / sales · TTM
3.74
Free cash flow yield
5.21%

Financial denominator

Revenue · TTM
12.54 B USD
Period end
2026-09-30
Source version
2026-10-22

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-09-30

OPERATING BRIDGE

Operating breakdown

Actual cash and capital movements
First three quarters of 2026: net income to operating cash flowDetails: 19
First three quarters of 2026: net income to operating cash flow; net income 1,301.02 million USD; non-cash and other adjustments 218.18 million USD; cash tied up in operating assets -1,349.10 million USD; cash contribution from operating liabilities 2,368.28 million USD; operating cash flow 2,538.38 million USD.01,0002,0003,000Net income1,301.02Non-cash and other adjustments+218.18Cash tied up in operating assets-1,349.10Operating-liability contribution+2,368.28Operating cash flow2,538.38USD million · Adjustments are grouped; details appear in the table belowFirst three quarters of 2026: net income to operating cash flow; all rows share one value axis, in million USD.01,0002,0003,000Net income1,301.02Non-cash and other adjustments+218.18Cash tied up in operating assets-1,349.10Operating-liability contribution+2,368.28Operating cash flow2,538.38Unit: USD million
Reconcile each cash-bridge item 19 items
First three quarters of 2026: net income to operating cash flow
Cash-flow itemAmountUSD million
Net income1,301.02
Amortization of identifiable intangible assets69.36
Depreciation expense60.45
Change in right-of-use assets40.20
Bad-debt expense6.30
Deferred income-tax benefit-1.45
Amortization of debt financing costs0.70
Gain on asset disposal-5.34
Change in fair value of contingent consideration16.71
Share-based compensation31.25
ReceivablesNet amount-1,166.98
Inventory-36.21
Prepayments and other current assets-32.69
Contract assets and unbilled receivables-107.98
Other non-current assets-5.24
Accounts payable and other current liabilities681.44
Billings in excess of costs and deferred revenue1,692.70
Other long-term liabilities-5.85
Operating cash flow2,538.38

Signed amounts from the actual cash-flow statement; net income is the starting point and the final item is the total.

Comfort Systems USA 2026-09-30 10-Q

Research and further reading

Explore the evidence and reasoning behind these operating questions in public articles and full reports.

Research hub ↗
Further questions to investigate

Assess the cash quality of growth through project revenue, profit and customer advances.

Open price and operating analysis ↗

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-09-30Source version used 2026-10-22 · Original currency USD
USD · Quarter
Current period 2026-07-01 — 2026-09-30Comparison period 2026-04-01 — 2026-06-30
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
3.77 B

Raw value 3,766,302,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

3.27 B

Raw value 3,265,656,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+500.65 M+15.33%
Gross profitGross margin 24.81% · Change -1.04 percentage points
934.48 M

Raw value 934,482,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

844.23 M

Raw value 844,228,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+90.25 M+10.69%
Operating incomeOperating margin 16.58% · Change -0.50 percentage points
624.57 M

Raw value 624,570,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

557.97 M

Raw value 557,966,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+66.60 M+11.94%
Net incomeNet margin 12.98% · Change -0.54 percentage points
489.04 M

Raw value 489,044,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

441.60 M

Raw value 441,602,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+47.44 M+10.74%
Operating cash flowOperating cash flow / revenue 26.82% · Change -8.07 percentage points
1.01 BDerived by subtraction

Raw value 1,010,126,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 2.54 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 1.53 B USD · Source version 2026-07-23
1.14 BDerived by subtraction

Raw value 1,139,426,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 1.53 B USD · Source version 2026-07-23
  • Subtract: 2026-01-01 — 2026-03-31 · 388.83 M USD · Source version 2026-04-23
-129.30 M-11.35%
Capital expenditureCapital expenditure / revenue 5.59% · Change +1.26 percentage points
210.60 MDerived by subtraction

Raw value 210,600,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 499.44 M USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 288.84 M USD · Source version 2026-07-23
141.36 MDerived by subtraction

Raw value 141,364,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 288.84 M USD · Source version 2026-07-23
  • Subtract: 2026-01-01 — 2026-03-31 · 147.47 M USD · Source version 2026-04-23
+69.24 M+48.98%

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million01k2k3k4k2017.032020.012022.012024.012026.093.8k625489

Time rangeRevenue

2017-03-31 — 2026-09-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-302019-12-312020-03-312020-06-302020-09-302020-12-312021-03-312021-06-302021-09-302021-12-312022-03-312022-06-302022-09-302022-12-312023-03-312023-06-302023-09-302023-12-312024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-302026-09-30
Revenue
380.59 M

Raw value 380,588,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

465.41 M

Raw value 465,411,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reported data

480.85 M

Raw value 480,851,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reported data

461.07 M

Raw value 461,072,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reported data

464.94 M

Raw value 464,941,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

535.04 M

Raw value 535,043,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reported data

594.54 M

Raw value 594,536,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reported data

588.36 M

Raw value 588,359,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reported data

538.47 M

Raw value 538,473,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

650.30 M

Raw value 650,302,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

706.92 M

Raw value 706,918,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

719.58 M

Raw value 719,584,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reported data

700.13 M

Raw value 700,131,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

743.47 M

Raw value 743,468,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

714.10 M

Raw value 714,099,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

698.96 M

Raw value 698,961,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reported data

669.76 M

Raw value 669,761,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

713.90 M

Raw value 713,895,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

833.90 M

Raw value 833,896,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

856.08 MDerived by subtraction

Raw value 856,084,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 3.07 B USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 2.22 B USD · Source version 2022-10-26
885.22 M

Raw value 885,216,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

1.02 B

Raw value 1,017,948,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

1.12 B

Raw value 1,120,012,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

1.12 BDerived by subtraction

Raw value 1,117,188,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 4.14 B USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 3.02 B USD · Source version 2023-10-26
1.17 B

Raw value 1,174,640,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

1.30 B

Raw value 1,296,430,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

1.38 B

Raw value 1,378,124,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

1.36 BDerived by subtraction

Raw value 1,357,566,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 5.21 B USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 3.85 B USD · Source version 2024-10-24
1.54 B

Raw value 1,537,016,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

1.81 B

Raw value 1,810,290,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

1.81 B

Raw value 1,812,366,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

1.87 BDerived by subtraction

Raw value 1,867,804,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 7.03 B USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 5.16 B USD · Source version 2025-10-23
1.83 B

Raw value 1,831,286,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

2.17 B

Raw value 2,173,319,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

2.45 B

Raw value 2,450,969,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

2.65 BDerived by subtraction

Raw value 2,646,067,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 9.10 B USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 6.46 B USD · Source version 2026-10-22
2.87 B

Raw value 2,865,332,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

3.27 B

Raw value 3,265,656,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

3.77 B

Raw value 3,766,302,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Gross profit
75.95 M

Raw value 75,954,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

95.74 M

Raw value 95,738,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reported data

100.86 M

Raw value 100,858,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reported data

93.73 M

Raw value 93,731,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reported data

89.05 M

Raw value 89,053,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

111.18 M

Raw value 111,183,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reported data

127.87 M

Raw value 127,868,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reported data

118.18 M

Raw value 118,175,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reported data

106.67 M

Raw value 106,665,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

120.02 M

Raw value 120,016,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

142.70 M

Raw value 142,702,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

132.56 M

Raw value 132,560,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reported data

117.09 M

Raw value 117,093,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

145.70 M

Raw value 145,695,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

147.20 M

Raw value 147,196,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

137.00 M

Raw value 136,999,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reported data

123.47 M

Raw value 123,469,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

126.46 M

Raw value 126,455,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

159.21 M

Raw value 159,212,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

154.07 MDerived by subtraction

Raw value 154,071,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 563.21 M USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 409.14 M USD · Source version 2022-10-26
153.14 M

Raw value 153,144,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

174.99 M

Raw value 174,992,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

202.22 M

Raw value 202,224,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

211.25 MDerived by subtraction

Raw value 211,248,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 741.61 M USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 530.36 M USD · Source version 2023-10-26
205.41 M

Raw value 205,405,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

227.92 M

Raw value 227,920,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

277.50 M

Raw value 277,499,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

279.69 MDerived by subtraction

Raw value 279,685,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 990.51 M USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 710.82 M USD · Source version 2024-10-24
297.36 M

Raw value 297,363,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

363.60 M

Raw value 363,596,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

381.71 M

Raw value 381,714,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

433.74 MDerived by subtraction

Raw value 433,738,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 1.48 B USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 1.04 B USD · Source version 2025-10-23
403.42 M

Raw value 403,416,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

509.90 M

Raw value 509,897,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

607.87 M

Raw value 607,871,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

674.72 MDerived by subtraction

Raw value 674,715,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 2.20 B USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 1.52 B USD · Source version 2026-10-22
754.41 M

Raw value 754,412,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

844.23 M

Raw value 844,228,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

934.48 M

Raw value 934,482,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Operating income
11.76 M

Raw value 11,756,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

29.27 M

Raw value 29,265,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reported data

34.34 M

Raw value 34,335,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reported data

23.90 MDerived by subtraction

Raw value 23,904,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2017-01-01 — 2017-12-31 · 99.26 M USD · Source version 2020-02-26
  • Subtract: 2017-01-01 — 2017-09-30 · 75.36 M USD · Source version 2018-10-25
19.24 M

Raw value 19,241,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

40.18 M

Raw value 40,175,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reported data

52.79 M

Raw value 52,790,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reported data

38.03 MDerived by subtraction

Raw value 38,032,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2018-01-01 — 2018-12-31 · 150.24 M USD · Source version 2021-02-25
  • Subtract: 2018-01-01 — 2018-09-30 · 112.21 M USD · Source version 2019-10-24
27.98 M

Raw value 27,979,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

35.70 M

Raw value 35,702,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

53.40 M

Raw value 53,404,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

46.55 MDerived by subtraction

Raw value 46,554,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2019-01-01 — 2019-12-31 · 163.64 M USD · Source version 2022-02-23
  • Subtract: 2019-01-01 — 2019-09-30 · 117.09 M USD · Source version 2020-10-26
24.72 M

Raw value 24,723,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

60.96 M

Raw value 60,962,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

56.69 M

Raw value 56,685,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

48.28 MDerived by subtraction

Raw value 48,281,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 190.65 M USD · Source version 2023-02-22
  • Subtract: 2020-01-01 — 2020-09-30 · 142.37 M USD · Source version 2021-10-27
35.61 M

Raw value 35,605,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

39.40 M

Raw value 39,397,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

64.11 M

Raw value 64,105,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

49.33 MDerived by subtraction

Raw value 49,331,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 188.44 M USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 139.11 M USD · Source version 2022-10-26
35.69 M

Raw value 35,691,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

56.65 M

Raw value 56,651,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

81.44 M

Raw value 81,436,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

80.07 MDerived by subtraction

Raw value 80,071,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 253.85 M USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 173.78 M USD · Source version 2023-10-26
70.89 M

Raw value 70,885,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

92.08 M

Raw value 92,082,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

135.14 M

Raw value 135,143,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

120.28 MDerived by subtraction

Raw value 120,278,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 418.39 M USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 298.11 M USD · Source version 2024-10-24
135.46 M

Raw value 135,460,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

184.67 M

Raw value 184,670,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

202.88 M

Raw value 202,884,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

226.36 MDerived by subtraction

Raw value 226,355,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 749.37 M USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 523.01 M USD · Source version 2025-10-23
209.10 M

Raw value 209,098,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

299.87 M

Raw value 299,873,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

378.87 M

Raw value 378,874,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

426.74 MDerived by subtraction

Raw value 426,744,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.31 B USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 887.85 M USD · Source version 2026-10-22
485.72 M

Raw value 485,718,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

557.97 M

Raw value 557,966,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

624.57 M

Raw value 624,570,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Net income
7.48 M

Raw value 7,477,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

17.97 M

Raw value 17,972,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reported data

22.28 M

Raw value 22,284,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reported data

7.54 M

Raw value 7,539,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reported data

16.66 M

Raw value 16,659,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

32.55 M

Raw value 32,547,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reported data

38.54 M

Raw value 38,541,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reported data

25.16 M

Raw value 25,156,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reported data

19.87 M

Raw value 19,866,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

24.17 M

Raw value 24,173,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

36.23 M

Raw value 36,233,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

34.05 M

Raw value 34,052,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reported data

17.72 M

Raw value 17,716,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

39.50 M

Raw value 39,495,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

50.09 M

Raw value 50,088,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

42.84 M

Raw value 42,840,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reported data

26.49 M

Raw value 26,491,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

32.97 M

Raw value 32,965,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

46.30 M

Raw value 46,297,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

37.60 MDerived by subtraction

Raw value 37,595,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 143.35 M USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 105.75 M USD · Source version 2022-10-26
86.76 M

Raw value 86,762,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

42.25 M

Raw value 42,246,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

61.52 M

Raw value 61,515,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

55.42 MDerived by subtraction

Raw value 55,424,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 245.95 M USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 190.52 M USD · Source version 2023-10-26
57.22 M

Raw value 57,216,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

69.48 M

Raw value 69,476,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

105.13 M

Raw value 105,125,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

91.58 MDerived by subtraction

Raw value 91,581,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 323.40 M USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 231.82 M USD · Source version 2024-10-24
96.32 M

Raw value 96,319,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

134.01 M

Raw value 134,009,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

146.24 M

Raw value 146,235,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

145.87 MDerived by subtraction

Raw value 145,870,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 522.43 M USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 376.56 M USD · Source version 2025-10-23
169.29 M

Raw value 169,289,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

230.85 M

Raw value 230,848,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

291.62 M

Raw value 291,615,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

330.81 MDerived by subtraction

Raw value 330,806,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.02 B USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 691.75 M USD · Source version 2026-10-22
370.38 M

Raw value 370,378,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

441.60 M

Raw value 441,602,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

489.04 M

Raw value 489,044,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Operating cash flow
10.05 M

Raw value 10,053,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

11.13 MDerived by subtraction

Raw value 11,127,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2017-01-01 — 2017-06-30 · 21.18 M USD · Source version 2018-07-26
  • Subtract: 2017-01-01 — 2017-03-31 · 10.05 M USD · Source version 2018-04-26
44.51 MDerived by subtraction

Raw value 44,512,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2017-01-01 — 2017-09-30 · 65.69 M USD · Source version 2018-10-25
  • Subtract: 2017-01-01 — 2017-06-30 · 21.18 M USD · Source version 2018-07-26
48.40 MDerived by subtraction

Raw value 48,398,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2017-01-01 — 2017-12-31 · 114.09 M USD · Source version 2020-02-26
  • Subtract: 2017-01-01 — 2017-09-30 · 65.69 M USD · Source version 2018-10-25
3.85 M

Raw value 3,851,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

33.67 MDerived by subtraction

Raw value 33,667,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2018-01-01 — 2018-06-30 · 37.52 M USD · Source version 2019-07-25
  • Subtract: 2018-01-01 — 2018-03-31 · 3.85 M USD · Source version 2019-04-25
30.48 MDerived by subtraction

Raw value 30,484,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2018-01-01 — 2018-09-30 · 68.00 M USD · Source version 2019-10-24
  • Subtract: 2018-01-01 — 2018-06-30 · 37.52 M USD · Source version 2019-07-25
79.19 MDerived by subtraction

Raw value 79,188,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2018-01-01 — 2018-12-31 · 147.19 M USD · Source version 2021-02-25
  • Subtract: 2018-01-01 — 2018-09-30 · 68.00 M USD · Source version 2019-10-24
0.99 M

Raw value 991,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

25.61 MDerived by subtraction

Raw value 25,609,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-06-30 · 26.60 M USD · Source version 2020-07-27
  • Subtract: 2019-01-01 — 2019-03-31 · 0.99 M USD · Source version 2020-04-27
73.12 MDerived by subtraction

Raw value 73,115,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-09-30 · 99.72 M USD · Source version 2020-10-26
  • Subtract: 2019-01-01 — 2019-06-30 · 26.60 M USD · Source version 2020-07-27
42.31 MDerived by subtraction

Raw value 42,313,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2019-01-01 — 2019-12-31 · 142.03 M USD · Source version 2022-02-23
  • Subtract: 2019-01-01 — 2019-09-30 · 99.72 M USD · Source version 2020-10-26
21.92 M

Raw value 21,920,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

141.87 MDerived by subtraction

Raw value 141,866,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-06-30 · 163.79 M USD · Source version 2021-07-28
  • Subtract: 2020-01-01 — 2020-03-31 · 21.92 M USD · Source version 2021-04-28
52.61 MDerived by subtraction

Raw value 52,614,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-09-30 · 216.40 M USD · Source version 2021-10-27
  • Subtract: 2020-01-01 — 2020-06-30 · 163.79 M USD · Source version 2021-07-28
70.11 MDerived by subtraction

Raw value 70,110,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 286.51 M USD · Source version 2023-02-22
  • Subtract: 2020-01-01 — 2020-09-30 · 216.40 M USD · Source version 2021-10-27
84.65 M

Raw value 84,647,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

25.42 MDerived by subtraction

Raw value 25,422,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-06-30 · 110.07 M USD · Source version 2022-07-27
  • Subtract: 2021-01-01 — 2021-03-31 · 84.65 M USD · Source version 2022-04-27
42.59 MDerived by subtraction

Raw value 42,585,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-09-30 · 152.65 M USD · Source version 2022-10-26
  • Subtract: 2021-01-01 — 2021-06-30 · 110.07 M USD · Source version 2022-07-27
27.50 MDerived by subtraction

Raw value 27,497,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 180.15 M USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 152.65 M USD · Source version 2022-10-26
63.73 M

Raw value 63,729,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

44.56 MDerived by subtraction

Raw value 44,563,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-06-30 · 108.29 M USD · Source version 2023-07-26
  • Subtract: 2022-01-01 — 2022-03-31 · 63.73 M USD · Source version 2023-04-26
61.23 MDerived by subtraction

Raw value 61,232,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-09-30 · 169.52 M USD · Source version 2023-10-26
  • Subtract: 2022-01-01 — 2022-06-30 · 108.29 M USD · Source version 2023-07-26
132.01 MDerived by subtraction

Raw value 132,007,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 301.53 M USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 169.52 M USD · Source version 2023-10-26
126.91 M

Raw value 126,909,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

125.41 MDerived by subtraction

Raw value 125,410,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · 252.32 M USD · Source version 2024-07-25
  • Subtract: 2023-01-01 — 2023-03-31 · 126.91 M USD · Source version 2024-04-25
214.24 MDerived by subtraction

Raw value 214,241,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · 466.56 M USD · Source version 2024-10-24
  • Subtract: 2023-01-01 — 2023-06-30 · 252.32 M USD · Source version 2024-07-25
173.01 MDerived by subtraction

Raw value 173,008,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 639.57 M USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 466.56 M USD · Source version 2024-10-24
146.56 M

Raw value 146,557,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

189.86 MDerived by subtraction

Raw value 189,858,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 336.42 M USD · Source version 2025-07-24
  • Subtract: 2024-01-01 — 2024-03-31 · 146.56 M USD · Source version 2025-04-24
302.18 MDerived by subtraction

Raw value 302,179,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 638.59 M USD · Source version 2025-10-23
  • Subtract: 2024-01-01 — 2024-06-30 · 336.42 M USD · Source version 2025-07-24
210.46 MDerived by subtraction

Raw value 210,463,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 849.06 M USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 638.59 M USD · Source version 2025-10-23
-87.95 M

Raw value -87,950,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

252.50 MDerived by subtraction

Raw value 252,495,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 164.55 M USD · Source version 2026-07-23
  • Subtract: 2025-01-01 — 2025-03-31 · -87.95 M USD · Source version 2026-04-23
553.27 MDerived by subtraction

Raw value 553,271,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 717.82 M USD · Source version 2026-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 164.55 M USD · Source version 2026-07-23
468.54 MDerived by subtraction

Raw value 468,540,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.19 B USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 717.82 M USD · Source version 2026-10-22
388.83 M

Raw value 388,828,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

1.14 BDerived by subtraction

Raw value 1,139,426,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 1.53 B USD · Source version 2026-07-23
  • Subtract: 2026-01-01 — 2026-03-31 · 388.83 M USD · Source version 2026-04-23
1.01 BDerived by subtraction

Raw value 1,010,126,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 2.54 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 1.53 B USD · Source version 2026-07-23
Capital expenditure
5.08 M

Raw value 5,077,000.00 USD

2017-01-01 — 2017-03-31 · USD · Reported data

6.57 MDerived by subtraction

Raw value 6,569,000.00 USD

2017-04-01 — 2017-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2017-01-01 — 2017-06-30 · 11.65 M USD · Source version 2018-07-26
  • Subtract: 2017-01-01 — 2017-03-31 · 5.08 M USD · Source version 2018-04-26
5.18 MDerived by subtraction

Raw value 5,184,000.00 USD

2017-07-01 — 2017-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2017-01-01 — 2017-09-30 · 16.83 M USD · Source version 2018-10-25
  • Subtract: 2017-01-01 — 2017-06-30 · 11.65 M USD · Source version 2018-07-26
18.64 MDerived by subtraction

Raw value 18,637,000.00 USD

2017-10-01 — 2017-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2017-01-01 — 2017-12-31 · 35.47 M USD · Source version 2020-02-26
  • Subtract: 2017-01-01 — 2017-09-30 · 16.83 M USD · Source version 2018-10-25
5.59 M

Raw value 5,588,000.00 USD

2018-01-01 — 2018-03-31 · USD · Reported data

8.54 MDerived by subtraction

Raw value 8,535,000.00 USD

2018-04-01 — 2018-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2018-01-01 — 2018-06-30 · 14.12 M USD · Source version 2019-07-25
  • Subtract: 2018-01-01 — 2018-03-31 · 5.59 M USD · Source version 2019-04-25
7.94 MDerived by subtraction

Raw value 7,936,000.00 USD

2018-07-01 — 2018-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2018-01-01 — 2018-09-30 · 22.06 M USD · Source version 2019-10-24
  • Subtract: 2018-01-01 — 2018-06-30 · 14.12 M USD · Source version 2019-07-25
5.21 MDerived by subtraction

Raw value 5,209,000.00 USD

2018-10-01 — 2018-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2018-01-01 — 2018-12-31 · 27.27 M USD · Source version 2021-02-25
  • Subtract: 2018-01-01 — 2018-09-30 · 22.06 M USD · Source version 2019-10-24
8.84 M

Raw value 8,844,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

6.84 MDerived by subtraction

Raw value 6,836,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-06-30 · 15.68 M USD · Source version 2020-07-27
  • Subtract: 2019-01-01 — 2019-03-31 · 8.84 M USD · Source version 2020-04-27
6.96 MDerived by subtraction

Raw value 6,961,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-09-30 · 22.64 M USD · Source version 2020-10-26
  • Subtract: 2019-01-01 — 2019-06-30 · 15.68 M USD · Source version 2020-07-27
9.11 MDerived by subtraction

Raw value 9,109,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2019-01-01 — 2019-12-31 · 31.75 M USD · Source version 2022-02-23
  • Subtract: 2019-01-01 — 2019-09-30 · 22.64 M USD · Source version 2020-10-26
7.50 M

Raw value 7,497,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

7.04 MDerived by subtraction

Raw value 7,042,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-06-30 · 14.54 M USD · Source version 2021-07-28
  • Subtract: 2020-01-01 — 2020-03-31 · 7.50 M USD · Source version 2021-04-28
4.92 MDerived by subtraction

Raw value 4,920,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-09-30 · 19.46 M USD · Source version 2021-10-27
  • Subtract: 2020-01-01 — 2020-06-30 · 14.54 M USD · Source version 2021-07-28
4.67 MDerived by subtraction

Raw value 4,672,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 24.13 M USD · Source version 2023-02-22
  • Subtract: 2020-01-01 — 2020-09-30 · 19.46 M USD · Source version 2021-10-27
4.81 M

Raw value 4,812,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

5.95 MDerived by subtraction

Raw value 5,950,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-06-30 · 10.76 M USD · Source version 2022-07-27
  • Subtract: 2021-01-01 — 2021-03-31 · 4.81 M USD · Source version 2022-04-27
5.10 MDerived by subtraction

Raw value 5,102,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-09-30 · 15.86 M USD · Source version 2022-10-26
  • Subtract: 2021-01-01 — 2021-06-30 · 10.76 M USD · Source version 2022-07-27
6.47 MDerived by subtraction

Raw value 6,466,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 22.33 M USD · Source version 2024-02-22
  • Subtract: 2021-01-01 — 2021-09-30 · 15.86 M USD · Source version 2022-10-26
9.19 M

Raw value 9,192,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

11.02 MDerived by subtraction

Raw value 11,023,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-06-30 · 20.22 M USD · Source version 2023-07-26
  • Subtract: 2022-01-01 — 2022-03-31 · 9.19 M USD · Source version 2023-04-26
14.58 MDerived by subtraction

Raw value 14,578,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-09-30 · 34.79 M USD · Source version 2023-10-26
  • Subtract: 2022-01-01 — 2022-06-30 · 20.22 M USD · Source version 2023-07-26
13.57 MDerived by subtraction

Raw value 13,566,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 48.36 M USD · Source version 2025-02-20
  • Subtract: 2022-01-01 — 2022-09-30 · 34.79 M USD · Source version 2023-10-26
16.52 M

Raw value 16,520,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

24.61 MDerived by subtraction

Raw value 24,610,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · 41.13 M USD · Source version 2024-07-25
  • Subtract: 2023-01-01 — 2023-03-31 · 16.52 M USD · Source version 2024-04-25
28.44 MDerived by subtraction

Raw value 28,444,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · 69.57 M USD · Source version 2024-10-24
  • Subtract: 2023-01-01 — 2023-06-30 · 41.13 M USD · Source version 2024-07-25
25.26 MDerived by subtraction

Raw value 25,264,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 94.84 M USD · Source version 2026-02-19
  • Subtract: 2023-01-01 — 2023-09-30 · 69.57 M USD · Source version 2024-10-24
24.95 M

Raw value 24,952,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

23.38 MDerived by subtraction

Raw value 23,384,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 48.34 M USD · Source version 2025-07-24
  • Subtract: 2024-01-01 — 2024-03-31 · 24.95 M USD · Source version 2025-04-24
22.06 MDerived by subtraction

Raw value 22,059,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 70.40 M USD · Source version 2025-10-23
  • Subtract: 2024-01-01 — 2024-06-30 · 48.34 M USD · Source version 2025-07-24
40.68 MDerived by subtraction

Raw value 40,676,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 111.07 M USD · Source version 2026-02-19
  • Subtract: 2024-01-01 — 2024-09-30 · 70.40 M USD · Source version 2025-10-23
22.21 M

Raw value 22,208,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

31.27 MDerived by subtraction

Raw value 31,273,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 53.48 M USD · Source version 2026-07-23
  • Subtract: 2025-01-01 — 2025-03-31 · 22.21 M USD · Source version 2026-04-23
35.33 MDerived by subtraction

Raw value 35,332,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 88.81 M USD · Source version 2026-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 53.48 M USD · Source version 2026-07-23
66.09 MDerived by subtraction

Raw value 66,090,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 154.90 M USD · Source version 2026-02-19
  • Subtract: 2025-01-01 — 2025-09-30 · 88.81 M USD · Source version 2026-10-22
147.47 M

Raw value 147,473,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

141.36 MDerived by subtraction

Raw value 141,364,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 288.84 M USD · Source version 2026-07-23
  • Subtract: 2026-01-01 — 2026-03-31 · 147.47 M USD · Source version 2026-04-23
210.60 MDerived by subtraction

Raw value 210,600,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 499.44 M USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 288.84 M USD · Source version 2026-07-23
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Disclosed events

R.C. Hunt Electric, LLC · Capital and financing

Comfort Systems USA acquired Utah-headquartered R.C. Hunt Electric, LLC on 1 May 2026 for a preliminary total purchase price of $206.0 million ($167.2m cash at closing, $15.0m seller notes, plus an earn-out); Hunt provides electrical design and construction to industrial, technology, commercial and infrastructure end markets. [3]

Disclosed events

Anonymous customer · FIX (12.8% of FY2025 consolidated revenue) · Customer

FY2025 Form 10-K discloses that one unnamed customer accounted for approximately 12.8% of Comfort Systems USA's consolidated revenue. [1]

Disclosed events

Feyen-Zylstra Holdings, LLC · Capital and financing

Comfort Systems USA acquired Feyen-Zylstra Holdings, LLC on 1 Oct 2025 for a preliminary total purchase price of $109.8 million ($99.0m cash, $4.3m seller notes, plus earn-out and working-capital adjustment); Feyen-Zylstra provides electrical design, installation and maintenance to industrial, technology and healthcare sectors. [2]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-09-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

  3. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-03-31. The same document includes multiple comparison periods.

  4. 10-K Original financial filings ↗

    This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.

  5. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-09-30.

  6. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-06-30.

Showing the latest 6 recorded source versions. Find the remaining 56 in Source values in the full financial table.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 3 · Excluded by current filters: 0

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Relationship records

3 records
Economic direction / relationship typeStatus / record dateRecorded amountCapacity basisEvidence source
Signed / existing2026-05-01USD 0.206 billionPreliminary acquisition considerationNot structuredA · Original filingCheck public source ↗
Signed / existing2026-02-19No attributable amount providedAmount classification not yet structuredNot structuredA · Original filingCheck public source ↗
Signed / existing2025-10-01USD 0.11 billionPreliminary acquisition considerationNot structuredA · Original filingCheck public source ↗
1–3 / 3 records

Capital deployed · Business acquisition

FIX R.C. Hunt Electric

Signed / existingA · Original filing
Check public source ↗

What this relationship establishes

Acquired R.C. Hunt Electric, LLC, headquartered in Utah

Relationship type
Business acquisition

Recorded as signed or existing; performance progress requires separate verification

Amount basis
USD 0.206 billion Preliminary acquisition consideration
  • Preliminary total consideration of $206m: $167.2m cash at closing, $15m in seller notes, plus an earn-out

Separate cash, notes, shares and contingent consideration. Payment timing, subsequent adjustments and closing status cannot be inferred from the total.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

Comfort Systems USA acquired Utah-headquartered R.C. Hunt Electric, LLC on 1 May 2026 for a preliminary total purchase price of $206.0 million ($167.2m cash at closing, $15.0m seller notes, plus an earn-out); Hunt provides electrical design and construction to industrial, technology, commercial and infrastructure end markets.

A · Original filing

Comfort Systems USA Q2 2026 Form 10-Q, Acquisitions note

Consideration, integration and returns

The excerpts below come from this record. Verify signed status separately from actual completion.

  • Closed on 2026-05-01
  • Preliminary total consideration of $206m: $167.2m cash at closing, $15m in seller notes, plus an earn-out
Inputs still needed to quantify the impact
  • Payment arrangements for cash, notes and contingent consideration
  • Purchase accounting allocation, goodwill and subsequent integration spending
  • The basis for separating incremental cash returns from the existing business

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Transaction terms

    FIX → R.C. Hunt Electric: verify the acquisition scope, closing conditions and composition of the consideration.

  2. Consolidation and integration

    Verify cash paid at closing, seller notes and contingent consideration separately; track identifiable assets, goodwill and subsequent integration spending.

  3. Financial outcomes

    Verify the acquired business's contribution, acquisition cash outflows and capital tied up; recorded goodwill is not distributable cash.

  4. Testing price implications

    Test whether incremental cash returns justify the consideration paid before assessing per-share value; consolidated acquired revenue is not the same as synergy benefits.

Compare project progress, billing and collections, then assess whether changes in operating balances have increased operating cash flow. Keep acquisition consideration separate from ordinary project cash flows.

Operating data to test the relationship

FIX · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Free cash-flow margin ↗2026Q3 · Research calculation21.23%
Definition and boundaries

(CFO − cash purchases of PP&E) ÷ revenue × 100

Free cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.

Net margin ↗2026Q3 · Research calculation12.98%
Definition and boundaries

Attributable net income ÷ revenue × 100

Actual single-quarter profitability; no forecast is made.

Cash realization

Are reported earnings and contract performance generating operating cash?

First separate changes in operating balances from investment spending. Basic free cash flow is not cash freely distributable to shareholders.
Operating metricLatest valueDefinition and boundaries
Operating cash flow ↗2026Q3 · Research calculation1,010.13 USD million
Definition and boundaries

Filed data; quarterly cash flow is reconstructed from differences in cumulative values

Single-quarter basis; original financial periods and the filing dates used are retained.

Free cash flow ↗2026Q3 · Research calculation799.53 USD million
Definition and boundaries

CFO − cash purchases of PP&E

Free cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.

Investment and funding needs

How much cash is required for construction and procurement before delivery?

Compare prepayments, cash capital expenditure and commissioning plans. Current-period revenue is not a substitute for a full investment-recovery calculation.
Operating metricLatest valueDefinition and boundaries
Cash capital expenditure ↗2026Q3 · Research calculation210.6 USD million
Definition and boundaries

Filed data; quarterly cash flow is reconstructed from differences in cumulative values

Single-quarter basis; original financial periods and the filing dates used are retained.

Show remaining company metrics (5)
Working capital

How much company capital is tied up between supply, billing and payment?

Separate receivables, inventory and payables. An improvement in the net amount may reflect delayed payments and does not by itself establish better demand.
Operating metricLatest valueDefinition and boundaries
Operating balance contribution / CFO ↗2026Q3 · Research calculation45.23%
Definition and boundaries

Total cash contribution from changes in operating assets and liabilities ÷ CFO × 100

When CFO is negative, the ratio may be negative or exceed 100%. Read it alongside the cash-flow bridge; do not treat it as a quality score.

Trade working capital ↗2026Q3 · Research calculation-516.37 USD million
Definition and boundaries

Billed receivables + Unbilled receivables + Contract assets + Inventory − Accounts payable − Contract liabilities

A period-end balance, which is not the same measure as the change in the cash-flow statement.

Cash contribution from changes in operating balances ↗2026Q3 · Research calculation456.85 USD million
Definition and boundaries

Signed sum of 8 items for changes in operating assets and liabilities in the cash-flow statement

Includes other non-current operating items; this is not the change in balance-sheet net working capital. A positive value is a source of cash in the period, while a negative value is a use of cash.

Cash flow before operating balance movements ↗2026Q3 · Research calculation553.28 USD million
Definition and boundaries

CFO − total cash contribution from changes in operating assets and liabilities

A diagnostic value assuming zero changes in operating balances, not an estimate of sustainable CFO.

Revenue realization

Has relationship expansion converted into recognizable business revenue?

Reconcile by business and financial period. Total company revenue does not establish the selected customer's individual contribution.
Operating metricLatest valueDefinition and boundaries
Revenue ↗2026Q3 · Reported data3,766.3 USD million
Definition and boundaries

Filed data; quarterly cash flow is reconstructed from differences in cumulative values

Single-quarter basis; original financial periods and the filing dates used are retained.

Related companies in the value chain 7 companies · Electrical engineering and grids

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Public research
10 / 10 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Operating balance contribution / CFO45.23%2026Q3Research calculationTotal cash contribution from changes in operating assets and liabilities ÷ CFO × 100When CFO is negative, the ratio may be negative or exceed 100%. Read it alongside the cash-flow bridge; do not treat it as a quality score.View full series ↗
Free cash-flow margin21.23%2026Q3Research calculation(CFO − cash purchases of PP&E) ÷ revenue × 100Free cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.View full series ↗
Trade working capital-516.37 USD million2026Q3Research calculationBilled receivables + Unbilled receivables + Contract assets + Inventory − Accounts payable − Contract liabilitiesA period-end balance, which is not the same measure as the change in the cash-flow statement.View full series ↗
Revenue3,766.3 USD million2026Q3Reported dataFiled data; quarterly cash flow is reconstructed from differences in cumulative valuesSingle-quarter basis; original financial periods and the filing dates used are retained.View full series ↗
Operating cash flow1,010.13 USD million2026Q3Research calculationFiled data; quarterly cash flow is reconstructed from differences in cumulative valuesSingle-quarter basis; original financial periods and the filing dates used are retained.View full series ↗
Cash capital expenditure210.6 USD million2026Q3Research calculationFiled data; quarterly cash flow is reconstructed from differences in cumulative valuesSingle-quarter basis; original financial periods and the filing dates used are retained.View full series ↗
Free cash flow799.53 USD million2026Q3Research calculationCFO − cash purchases of PP&EFree cash flow is consistently defined as operating cash flow less cash purchases of PP&E, excluding proceeds from asset sales. It is neither a forecast of sustainable earnings nor cash distributable to shareholders.View full series ↗
Net margin12.98%2026Q3Research calculationAttributable net income ÷ revenue × 100Actual single-quarter profitability; no forecast is made.View full series ↗
Cash contribution from changes in operating balances456.85 USD million2026Q3Research calculationSigned sum of 8 items for changes in operating assets and liabilities in the cash-flow statementIncludes other non-current operating items; this is not the change in balance-sheet net working capital. A positive value is a source of cash in the period, while a negative value is a use of cash.View full series ↗
Cash flow before operating balance movements553.28 USD million2026Q3Research calculationCFO − total cash contribution from changes in operating assets and liabilitiesA diagnostic value assuming zero changes in operating balances, not an estimate of sustainable CFO.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately.

Original verification notes

first-provider-observation-listing-date-not-verified

Issuer confirms IPO completion July 2, 1997; completion is not asserted as the first trading date.

Nasdaq Quote source page Price-history source page
Financial statements

Reporting period 2026-09-30; filed 2026-10-22. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

SEC Company filings Raw financial data · JSON

Business evidence

Based on value-chain records; original operating disclosures are still needed.

Citations: 3 · Documents: 3

1Comfort Systems USA FY2025 Form 10-K (filed 19 Feb 2026)Value-chain archive

Comfort Systems USA FY2025 Form 10-K (filed 19 Feb 2026) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
2Comfort Systems USA FY2025 Form 10-K, Acquisitions noteValue-chain archive

Comfort Systems USA FY2025 Form 10-K, Acquisitions note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
3Comfort Systems USA Q2 2026 Form 10-Q, Acquisitions noteValue-chain archive

Comfort Systems USA Q2 2026 Form 10-Q, Acquisitions note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
Missing evidence
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Unresolved business questions
Which products, customers and revenue categories can be independently verified from primary materials?
Existing relationship records do not represent the entire business; company-level primary evidence for segments, products, customer concentration and key operations remains incomplete.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 12
01Comfort Systems USA 2026-09-30 10-Q

Filed 2026-10-22; source accessed 2026-10-23.

View original disclosure
02Comfort Systems USA 2026-06-30 10-Q

Filed 2026-07-23; source accessed 2026-10-23.

View original disclosure
03Comfort Systems USA 2026-03-31 10-Q

Filed 2026-04-23; source accessed 2026-10-23.

View original disclosure
04Comfort Systems USA 2025-12-31 10-K

Filed 2026-02-19; source accessed 2026-10-23.

View original disclosure
05Comfort Systems USA 2025-09-30 10-Q

Filed 2025-10-23; source accessed 2026-10-23.

View original disclosure
06Comfort Systems USA 2025-06-30 10-Q

Filed 2025-07-24; source accessed 2026-10-23.

View original disclosure
07Comfort Systems USA 2025-03-31 10-Q

Filed 2025-04-24; source accessed 2026-10-23.

View original disclosure
08Comfort Systems USA 2024-12-31 10-K

Filed 2025-02-20; source accessed 2026-10-23.

View original disclosure
09Comfort Systems USA 2024-09-30 10-Q

Filed 2024-10-24; source accessed 2026-10-23.

View original disclosure
10Comfort Systems USA 2024-06-30 10-Q

Filed 2024-07-25; source accessed 2026-10-23.

View original disclosure
11Comfort Systems USA 2024-03-31 10-Q

Filed 2024-04-25; source accessed 2026-10-23.

View original disclosure
12Comfort Systems USA 2023-12-31 10-K

Filed 2024-02-22; source accessed 2026-10-23.

View original disclosure