Q4 25 EPS
$9.37
BEAT +39.23%
Est. $6.73
Q4 25 Revenue
$2.65B
BEAT +13.23%
Est. $2.34B
vs S&P Since Q4 25
+25.5%
BEATING MARKET
FIX +30.1% vs S&P +4.5%
Full Year 2025 Results
FY 25 EPS
$28.88
BEAT +9.95%
Est. $26.27
FY 25 Revenue
$9.10B
BEAT +3.52%
Est. $8.79B
Market Reaction
Did FIX Beat Earnings? Q4 2025 Results
Comfort Systems USA delivered a blowout Q4 2025, posting diluted EPS of $9.37 against a consensus estimate of $6.73, a 39.23% beat, while revenue climbed 41.7% year-over-year to $2.65 billion, well ahead of the $2.34 billion Wall Street had expected.… Read more Comfort Systems USA delivered a blowout Q4 2025, posting diluted EPS of $9.37 against a consensus estimate of $6.73, a 39.23% beat, while revenue climbed 41.7% year-over-year to $2.65 billion, well ahead of the $2.34 billion Wall Street had expected. The results were fueled by an extraordinary surge in data center and technology infrastructure demand, which now accounts for roughly 45% of company revenue and drove gross margins to 25.5% from 23.2% a year earlier. Net income more than doubled to $330.81 million from $145.87 million in the prior-year quarter, and full-year free cash flow reached $1.04 billion. Perhaps the most compelling signal for investors was the record $11.94 billion backlog at year-end, roughly double the figure at the start of 2025, including a third consecutive same-store increase exceeding $1 billion in a single quarter. Management offered no specific numerical guidance for 2026 but expressed confidence that persistent demand and a strengthening project pipeline would sustain the company's momentum well into the year ahead.
Key Takeaways
- • Quarterly EPS doubled year-over-year driven by careful discipline and great execution
- • Unprecedented demand led to record backlog of $11.94 billion, roughly doubling since the beginning of the year
- • Third consecutive same-store backlog increase exceeding $1 billion
- • Gross margin expansion to 25.5% in Q4 2025 from 23.2% in Q4 2024
- • Adjusted EBITDA margin improved to 17.5% in Q4 from 14.0% in the prior year quarter
- • Both net income and cash flow eclipsed $1 billion for full year 2025
FIX YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“We are deeply grateful for the amazing performance of our teams across the country. Their commitment and dedication continue to deliver excellent results for our customers, provide increasing opportunities for our employees, and bring crucial services to our communities. Careful discipline and great execution resulted in quarterly EPS that doubled compared to the same quarter last year. In addition to increased revenue and earnings, we also achieved over $400 million of quarterly cash flow.”
— Brian Lane, Q4 2025 Earnings Press Release
FIX Earnings Trends
FIX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FIX EPS Trend
Earnings per share: estimate vs actual
FIX Revenue Trend
Quarterly revenue: estimate vs actual
FIX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 | — | $10.51 | — | $2.87B | +19.74% |
| Q4 25 BEAT FY | $6.73 | $9.37 | +39.23% | $2.65B | +13.23% |
| FY Full Year | $26.27 | $28.88 | +9.95% | $9.10B | +3.52% |
| Q3 25 BEAT | $6.29 | $8.25 | +31.26% | $2.45B | +13.58% |
| Q2 25 BEAT | $4.84 | $6.53 | +35.05% | $2.17B | +10.31% |
| Q1 25 BEAT | $3.71 | $4.75 | +28.12% | $1.83B | +3.69% |