Last 48 quarters of trend data · Industrials · Engineering & Construction
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Comfort Systems USA, Inc.'s quarterly P/E stands at 32.8x, up 93.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 107.7% YoY to 24.7x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 68.12 | 32.80 | 24.90 | 25.01 | 20.53 | 16.96 | 25.92 | 23.86 | 20.33 | 29.53 | 20.16 | 14.54 | 21.27 |
| — | +93.4% | -3.9% | +4.8% | +1.0% | -42.5% | +28.6% | +64.1% | -4.4% | +28.7% | +7.9% | +2.2% | +19.7% | |
| P/S Ratio | 7.61 | 4.24 | 3.11 | 2.98 | 2.18 | 1.57 | 2.03 | 1.93 | 1.50 | 1.85 | 1.36 | 1.11 | 1.14 |
| — | +170.7% | +53.4% | +54.6% | +45.0% | -15.4% | +49.5% | +73.4% | +32.4% | +66.0% | +46.7% | +42.1% | +54.3% | |
| P/B Ratio | 28.45 | 17.27 | 13.46 | 13.07 | 9.62 | 6.46 | 8.90 | 8.79 | 7.35 | 8.29 | 5.77 | 5.07 | 5.30 |
| — | +167.4% | +51.3% | +48.6% | +30.9% | -22.1% | +54.2% | +73.4% | +38.6% | +66.7% | +39.5% | +37.7% | +58.6% | |
| P/FCF | 67.11 | 50.35 | 20.48 | 14.09 | 21.43 | — | 22.34 | 12.46 | 16.36 | 23.40 | 12.48 | 8.24 | 14.62 |
| — | — | -8.3% | +13.1% | +31.0% | — | +79.0% | +51.2% | +11.9% | +97.2% | +42.9% | -56.1% | -34.6% | |
| EV / EBITDA | 47.45 | 24.65 | 17.66 | 16.96 | 14.14 | 11.87 | 14.29 | 14.42 | 12.31 | 16.97 | 13.09 | 10.00 | 13.59 |
| — | +107.7% | +23.6% | +17.6% | +14.9% | -30.0% | +9.2% | +44.1% | -9.4% | +11.2% | +17.3% | +3.2% | +21.8% | |
| EV / EBIT | 52.59 | — | 19.44 | 19.24 | 15.87 | 13.77 | 20.06 | 18.23 | 16.04 | 23.22 | 16.77 | 12.22 | 17.11 |
| — | — | -3.1% | +5.6% | -1.1% | -40.7% | +19.7% | +49.2% | -6.2% | +17.7% | +10.4% | -2.8% | +12.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Comfort Systems USA, Inc.'s operating margin was 17.0% in Q1 2026, up 0.8 pp QoQ and up 5.5 pp YoY. This marks the 5th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 15.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 19.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.1% | 26.3% | 25.5% | 24.8% | 23.5% | 22.0% | 23.2% | 21.1% | 20.1% | 19.3% | 20.6% | 20.1% | 17.6% |
| — | +19.5% | +9.8% | +17.8% | +16.8% | +13.9% | +12.7% | +4.6% | +14.2% | +10.6% | +9.0% | +11.5% | +2.3% | |
| Operating Margin | 14.4% | 17.0% | 16.1% | 15.5% | 13.8% | 11.4% | 12.1% | 11.2% | 10.2% | 8.8% | 8.9% | 9.8% | 7.1% |
| — | +48.5% | +33.0% | +38.1% | +35.3% | +29.6% | +36.8% | +14.2% | +43.6% | +46.0% | +23.6% | +34.9% | +27.6% | |
| Net Margin | 11.2% | 12.9% | 12.5% | 11.9% | 10.6% | 9.2% | 7.8% | 8.1% | 7.4% | 6.3% | 6.7% | 7.6% | 5.4% |
| — | +39.8% | +60.1% | +47.5% | +43.5% | +47.5% | +15.8% | +5.8% | +38.1% | +28.7% | +36.0% | +38.9% | +29.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 49.2% | 14.1% | 14.1% | 13.9% | 12.3% | 9.7% | 8.9% | 9.5% | 9.4% | 7.3% | 7.4% | 9.1% | 6.4% |
| — | +44.7% | +59.5% | +45.6% | +31.2% | +33.8% | +20.2% | +5.1% | +46.3% | +30.4% | +29.7% | +36.2% | +34.9% | |
| ROA | 18.3% | 5.5% | 5.4% | 5.4% | 4.8% | 3.6% | 3.2% | 3.4% | 3.3% | 2.7% | 2.8% | 3.5% | 2.4% |
| — | +51.8% | +69.3% | +58.7% | +45.2% | +36.5% | +12.5% | -2.4% | +36.8% | +27.0% | +31.9% | +40.8% | +35.7% | |
| ROIC | 53.0% | 16.7% | 15.8% | 15.3% | 11.9% | 9.5% | 11.7% | 10.0% | 8.8% | 7.0% | 6.8% | 7.7% | 5.2% |
| — | +76.7% | +35.5% | +52.2% | +35.7% | +35.1% | +70.5% | +29.9% | +68.1% | +75.3% | +54.2% | +72.3% | +61.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Comfort Systems USA, Inc.'s Debt/EBITDA ratio is 0.7x, down from 1.7x last quarter — comfortably within a safe range. The current ratio has improved 15.1% YoY to 1.24x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.12 | 0.32 | 0.19 | 0.14 | 0.16 | 0.18 | 0.17 | 0.20 | 0.22 | 0.20 | 0.20 | 0.24 |
| — | -23.1% | +77.3% | +8.9% | -28.8% | -28.3% | -9.9% | -11.9% | -14.4% | -29.1% | -48.4% | -62.0% | -59.2% | |
| Debt / EBITDA | 0.54 | 0.70 | 1.69 | 1.00 | 0.85 | 1.14 | 1.18 | 1.15 | 1.34 | 1.76 | 1.81 | 1.53 | 2.34 |
| — | -39.0% | +43.4% | -13.4% | -36.8% | -34.9% | -34.7% | -24.8% | -42.7% | -51.0% | -53.4% | -68.6% | -65.2% | |
| Current Ratio | 1.21 | 1.24 | 1.21 | 1.22 | 1.13 | 1.08 | 1.08 | 1.04 | 1.00 | 0.96 | 1.11 | 1.11 | 1.01 |
| — | +15.1% | +12.1% | +17.0% | +13.3% | +12.5% | -2.7% | -6.1% | -1.7% | -7.7% | -0.6% | -14.5% | -20.8% | |
| Quick Ratio | 1.19 | 1.21 | 1.19 | 1.20 | 1.10 | 1.05 | 1.06 | 1.02 | 0.97 | 0.92 | 1.07 | 1.08 | 0.98 |
| — | +15.5% | +12.2% | +17.0% | +13.8% | +13.8% | -1.4% | -5.4% | -1.7% | -8.6% | -1.3% | -14.6% | -21.0% | |
| Interest Coverage | 144.57 | 223.01 | 149.88 | 125.57 | 185.73 | 129.48 | 118.03 | 109.56 | 100.27 | 76.36 | 275.91 | 67.51 | 22.75 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Comfort Systems USA, Inc.'s current P/E is 68.1x. The average P/E over the last 4 quarters is 25.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Comfort Systems USA, Inc.'s current operating margin is 14.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Comfort Systems USA, Inc.'s business trajectory between earnings reports.