Upside case
Bull case
$858+20.5%
IESC would need investors to value it at roughly 44x earnings — about 7x more generous than today's 36x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated Jun 18, 2026
IES Holdings, Inc. (IESC) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
1
analysts
0 bullish · 0 bearish · 1 covering IESC
Strong Buy
0
Buy
0
Hold
1
Sell
0
Strong Sell
0
Consensus Target
$458
-35.7% vs today
Scenario Range
$410 – $858
Model bear to bull value window
Coverage
1
Published analyst ratings
Valuation Context
36.2x
Forward P/E · Market cap $14.2B
IESC price targets
Three scenarios for where IESC stock could go
Current
~$712
Confidence
43 / 100
Updated
Jun 18, 2026
Where we are now
Current · $712
Bear
$410
Base
$651
Bull
$858
Market caseClosest to today
Base case
$651-8.6%
This is close to how the market is already pricing IESC — at roughly 33x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$410-42.4%
If investor confidence fades or macro conditions deteriorate, a 15x multiple contraction could push IESC down roughly 42% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
IES Holdings, Inc.
IESC · NASDAQIndustrialsEngineering & ConstructionSeptember year-end
IES Holdings is a specialty contractor that designs and installs integrated electrical, technology, and mechanical systems for commercial, industrial, and infrastructure projects. It generates revenue primarily from three segments: Commercial & Industrial electrical services (~60% of revenue), Communications infrastructure for data centers and buildings (~25%), and Infrastructure Solutions for power equipment maintenance and manufacturing (~15%). The company's competitive advantage lies in its technical expertise across complex electrical and technology systems—particularly for data centers and industrial facilities—where specialized knowledge creates high barriers to entry.
Market Cap
$14.2B
Revenue TTM
$3.5B
Net Income TTM
$341M
Net Margin
9.8%
IESC Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
50%Exceptional
vs consensus estimates
Avg EPS Surprise
+8.0%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$3.95/$3.55
Revenue
$890M/$843M
Q4 2025
EPS
$3.77/$3.11
Revenue
$898M/$843M
Q1 2026
EPS
$3.71/$3.94
Revenue
$871M/$876M
Q2 2026
EPS
$4.16/$3.95
Revenue
$974M/$1.0B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $3.95/$3.55 | +11.3% | $890M/$843M | +5.6% |
| Q4 2025 | $3.77/$3.11 | +21.2% | $898M/$843M | +6.5% |
| Q1 2026 | $3.71/$3.94 | -5.8% | $871M/$876M | -0.6% |
| Q2 2026 | $4.16/$3.95 | +5.3% | $974M/$1.0B | -3.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.8B
+9.6% YoY
FY2
$4.2B
+10.8% YoY
EPS Outlook
FY1
$15.08
-10.8% YoY
FY2
$14.47
-4.0% YoY
Trailing FCF (TTM)$224M
FCF Margin: 6.4%
Next Earnings
July 31, 2026
Expected EPS
$4.83
Expected Revenue
$1.1B
IESC beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
IESC Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.4B
Product Mix
Latest annual revenue by segment or product family
Residential
38.7%
-6.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Residential is the largest disclosed segment at 38.7% of FY 2025 revenue, down 6.1% YoY.
IESC Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $557 — implies -21.8% from today's price.
Premium to Fair Value
21.8%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IESC
47.4x
vs
S&P 500
24.4x
+94% premium
vs Industrials Trailing P/E
IESC
47.4x
vs
Industrials
25.6x
+85% premium
vs IESC 5Y Avg P/E
Today
47.4x
vs
5Y Average
19.0x
+150% premium
Forward PE
36.2x
S&P 500
18.8x
+92%
Industrials
21.2x
+71%
5Y Avg
—
—
Trailing PE
47.4x
S&P 500
24.4x
+94%
Industrials
25.6x
+85%
5Y Avg
19.0x
+150%
PEG Ratio
0.95x
S&P 500
1.66x
-43%
Industrials
1.65x
-43%
5Y Avg
—
—
EV/EBITDA
33.0x
S&P 500
15.2x
+117%
Industrials
13.9x
+138%
5Y Avg
11.1x
+197%
Price/FCF
64.9x
S&P 500
20.7x
+213%
Industrials
20.0x
+224%
5Y Avg
24.9x
+160%
Price/Sales
4.2x
S&P 500
3.1x
+36%
Industrials
1.6x
+170%
5Y Avg
1.1x
+301%
Dividend Yield
—
S&P 500
1.91%
—
Industrials
1.21%
—
5Y Avg
—
—
| Metric | IESC | S&P 500 | Industrials | 5Y Avg IESC |
|---|---|---|---|---|
| Forward PE | 36.2x | 18.8x+92% | 21.2x+71% | — |
| Trailing PE | 47.4x | 24.4x+94% | 25.6x+85% | 19.0x+150% |
| PEG Ratio | 0.95x | 1.66x-43% | 1.65x-43% | — |
| EV/EBITDA | 33.0x | 15.2x+117% | 13.9x+138% | 11.1x+197% |
| Price/FCF | 64.9x | 20.7x+213% | 20.0x+224% | 24.9x+160% |
| Price/Sales | 4.2x | 3.1x+36% | 1.6x+170% | 1.1x+301% |
| Dividend Yield | — | 1.91% | 1.21% | — |
IESC trades above S&P 500 benchmarks on 5 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIESC Financial Health
Verdict
Strong
IESC 37.5% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$3.5B
Revenue Growth
TTM vs prior year
+16.5%
Gross Margin
Gross profit as a share of revenue
25.8%
Operating Margin
Operating income divided by revenue
11.6%
Net Margin
Net income divided by revenue
9.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$16.91
Free Cash Flow (TTM)
Cash generation after capex
$224M
FCF Margin
FCF as share of revenue — the primary cash quality signal
6.4%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
37.5%
ROA
Return on assets, trailing twelve months
22.4%
Cash & Equivalents
Liquid assets on the balance sheet
$127M
Net Debt
Total debt minus cash
$30M
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.1× FCF
~0.1 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
39.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.3%
Dividend
—
Buyback
0.3%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$42M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
20M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageIESC Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Valuation concerns
The stock's Forward P/E of 22.41 and Earnings Yield of 2.86% suggest aggressive growth expectations, while DCF valuation is significantly lower than the current price.
High Risk
Analyst sentiment
Wall Street analysts rate the stock as Hold with a consensus price target implying a -34.2% downside from the current price.
Medium
Earnings risk
Despite recent growth in sales and net income, the projected EPS carries a confidence score of only 71/100, indicating uncertainty.
Lower
Financial health
The Altman Z-score of 12.24 suggests robust financial health, mitigating bankruptcy risk but not eliminating other risks.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IESC Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Strong operational consistency
IESC represents a high-conviction, long-term investment built around exceptional operational consistency and disciplined valuation.
Integrated electrical systems expertise
IES Holdings designs and installs integrated electrical and technology systems, providing infrastructure products and services in the U.S.
Growing research in education
IES has a growing body of research in education and special education, evaluation, and statistics aimed at improving CTE.
Bullish investor sentiment
Multiple bullish theses on IESC have been noted on platforms like r/Valueinvesting and Valueinvestorsclub.com.
Attractive valuation metrics
IESC's trailing P/E ratios in the 29-30 range suggest potential valuation appeal to investors.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IESC Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$712.39
52W Range Position
87%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$265.00
+168.8% from the low
52-Week High
$779.00
-8.6% from the high
1 Month
+8.88%
3 Month
+61.33%
YTD
+75.1%
1 Year
+159.1%
3Y CAGR
+138.4%
5Y CAGR
+67.9%
10Y CAGR
+49.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IESC vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
36.2x
vs 40.3x median
-10% below peer median
Revenue Growth
+9.6%
vs +8.8% median
+10% above peer median
Net Margin
9.8%
vs 3.7% median
+163% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IES IESC IES Holdings, Inc. | $14.2B | 36.2x | +9.6% | 9.8% | Hold | -35.7% |
MYR MYRG MYR Group Inc. | $7.2B | 40.3x | +8.8% | 3.7% | Hold | -10.5% |
POW POWL Powell Industries, Inc. | $10.8B | 54.4x | +11.3% | 16.5% | Hold | -20.0% |
WLD WLDN Willdan Group, Inc. | $1.3B | 21.6x | +8.1% | 8.2% | Buy | +32.0% |
PRI PRIM Primoris Services Corporation | $5.5B | 20.9x | +7.2% | 3.3% | Buy | +50.8% |
PWR PWR Quanta Services, Inc. | $105.4B | 50.2x | +13.2% | 3.7% | Buy | -4.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IESC Dividend and Capital Return
IESC returns 0.3% annually — null% through dividends and 0.3% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.3%
Dividend + buyback return per year
Buyback Yield
0.3%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$42M
Estimated Shares Retired
58.5K
Approx. Share Reduction
0.3%
Shares Outstanding
Current diluted share count from the screening snapshot
20M
FAQ
7 questionsIESC Investor Questions
Common questions answered from live analyst data and company financials.
01Is IES Holdings, Inc. (IESC) stock a buy or sell in 2026?
IES Holdings, Inc. (IESC) is rated Hold by Wall Street analysts as of 2026. Of 1 analysts covering the stock, 0 rate it Buy or Strong Buy, 1 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $458, implying -35.7% from the current price of $712. The bear case scenario is $410 and the bull case is $858.
02What is the IESC stock price target for 2026?
The Wall Street consensus price target for IESC is $458 based on 1 analyst estimates. The high-end target is $458 (-35.7% from today), and the low-end target is $458 (-35.7%). The base case model target is $651.
03Is IES Holdings, Inc. (IESC) stock overvalued in 2026?
IESC trades at 36.2x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for IES Holdings, Inc. (IESC) stock in 2026?
The primary risks for IESC in 2026 are: (1) Valuation concerns — The stock's Forward P/E of 22. (2) Analyst sentiment — Wall Street analysts rate the stock as Hold with a consensus price target implying a -34. (3) Earnings risk — Despite recent growth in sales and net income, the projected EPS carries a confidence score of only 71/100, indicating uncertainty. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is IES Holdings, Inc.'s revenue and earnings forecast?
Analyst consensus estimates IESC will report consensus revenue of $3.8B (+9.6% year-over-year) and EPS of $15.08 (-10.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.2B in revenue.
06When does IES Holdings, Inc. (IESC) report its next earnings?
IES Holdings, Inc. is expected to report its next earnings on approximately 2026-07-31. Consensus expects EPS of $4.83 and revenue of $1.1B. Over recent quarters, IESC has beaten EPS estimates 75% of the time.
07How much free cash flow does IES Holdings, Inc. generate?
IES Holdings, Inc. (IESC) generated $224M in free cash flow over the trailing twelve months — a free cash flow margin of 6.4%. IESC returns capital to shareholders through and share repurchases ($42M TTM).