Income StatementBalance SheetCash FlowSegments
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Comfort Systems USA Cash Flow Statement

Operating, investing, and financing cash movements

Comfort Systems USA generated $1.7B in operating cash flow over the trailing twelve months. After $280.2M in capital expenditures, free cash flow was $1.4B. Free cash flow increased 1.7% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.7BNet Cash From Investing (TTM)-$554.5MNet Cash From Financing (TTM)-$263.2MCapital Expenditures (TTM)$280.2MNet Change In Cash (TTM)$845.4M
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$68.4B
P/E Ratio55.87
ROE53.29%

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payment for contingent consideration liability (financing)$6.8M$46.3M$0.0$0.0$0.0$501.0K
Dividends paid$12.4M$14.2M$15.9M$17.6M$21.2M$24.6M
Net cash from financing activities-$36.6M-$160.4M-$39.3M$28.6M-$115.9M-$136.6M
Proceeds from issuance of common stock$157.0K$198.3K$198.3K$198.3K$198.3K$383.0K
Repurchases of common stock$15.9M$91.4M$19.9M$13.1M$91.6M$2.5M
Taxes paid for net share settlement$1.6M$2.6M$4.0M$282.0K$3.1M$3.1M
Repayments of Long-Term Lines of Credit$0.0$25.0M$25.0M$25.0M$25.0M$100.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0.0$68.4M$55.7M$4.5M$151.0M$6.1M
Capital expenditures$40.7M$22.2M$31.3M$35.3M$66.1M$147.5M
Net cash from investing activities-$39.5M-$96.8M-$86.2M-$53.0M-$231.3M-$184.0M
Purchases of investments$740.0K$7.3M$220.0K$21.5M$35.2M$45.1M
Proceeds from disposition of marketable securities and other investments—$6.9M$6.9M$6.9M$6.9M$13.8M
Proceeds from disposals of property, plant and equipment$1.9M$1.1M$969.0K$1.1M$543.0K$874.0K

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain on sale of property, plant, and equipment$252.0K$556.0K$442.0K$582.0K$394.0K$302.0K
Change in accounts payable$179.1M-$312.5M-$7.6M$125.4M-$81.3M$4.9M
Change in accounts receivable$70.3M-$48.3M$287.9M$139.0M$215.7M$214.7M
Change in deferred revenue—$103.1M$273.7M$188.0M$345.3M$225.0M
Change in inventories—$3.8M$7.6M$8.1M$4.9M$9.9M
Change in other liabilities-$4.4M$3.3M$7.3M$2.1M$16.0M-$1.1M
Deferred income taxes-$34.1M$2.0M-$935.0K$6.4M-$12.8M$956.0K
Net cash from operating activities$210.5M-$88.0M$252.5M$553.3M$468.5M$388.8M
Net income$145.9M$169.3M$230.8M$291.6M$330.8M$370.4M
Stock-based compensation$4.5M$8.0M$4.2M$3.6M$6.1M$19.4M
Amortization expense related to capitalized debt issuance costs$173.0K$169.0K$171.0K$446.0K$232.0K$232.0K
Amortization of capitalized software and acquired intangible assets$22.0M$20.1M$19.8M$19.5M$20.1M$20.4M
Contingent consideration fair value adjustments$43.7M$3.8M$4.1M$12.1M$13.5M$10.4M
Change In Right Of Use Assets$8.6M$7.7M$7.3M$7.6M$11.3M$12.7M
Depreciation$12.8M$14.0M$14.9M$16.0M$17.5M$18.6M
Increase (Decrease) in Contract with Customer, Asset$23.6M$150.1M$13.5M-$43.9M—$52.6M
Increase (Decrease) in Other Operating Assets$338.0K-$24.0K-$111.0K$702.0K—$597.0K
Increase (Decrease) in Prepaid Expense and Other Assets$23.0M$2.0M-$5.9M$17.0M$78.1M$15.7M
Accounts Receivable, Credit Loss Expense (Reversal)$1.5M$1.4M$2.3M$1.9M$992.0K$838.0K

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$169.8M-$110.2M$221.2M$517.9M$402.5M$241.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$134.4M-$345.2M$127.0M$528.8M$121.4M$68.3M
Repayments of Other Debt$26.0K$6.0M$22.0K$37.0M$22.0K$6.1M