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Comfort Systems USA FIX Q3 2025 earnings

Reported October 23, 2025 · After market close

Revenue$2.5BBeat by $293.1MDiluted EPS$8.25Beat by $1.96
Revenue estimate$2.2B
EPS estimate$6.29

Next report

Jul 23, 2026 (In 1 week)
Revenue estimate$3.0B
EPS estimate$10.38

Financials

Q3 2025

Income statement

See full
Revenue$2.5B+35.2%
Gross profit$607.9M+59.2%
Operating income$378.9M+86.7%
Net income$291.6M+99.4%
EPS (diluted)$8.25+102%

Balance sheet

See full
Cash & equivalents$860.5M+107%
Total debt$423.7M+39.6%
Total equity$2.2B+40.7%
Total assets$5.8B+30.9%

Cash flow

See full
Operating cash flow$553.3M+83.1%
CapEx$35.3M+60.2%
Free cash flow$517.9M+84.9%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$29.11B+109%
Enterprise value$28.68B+108%
P/E34.8×+5.0×
P/S3.5×+1.4×

Profitability

See full
Gross margin23.5%+3.2pp
Operating margin13.4%+3.5pp
Net margin10.1%+2.9pp
FCF margin9.6%-1.4pp

Returns & leverage

See full
Return on equity43.8%+10.3pp
Debt / equity0.2×0.0×
Current ratio1.2×+0.2×

Segments

By segment

See full
New Construction$1.6B+68.3%
Existing Building Construction$527.1M-7.6%
Service Calls Maintenance And Monitoring$176.0M+4.9%
Service Projects$150.4M+20.1%

Versus estimates

Revenue

Q1 2026$2.9BBeat by $472.4MQ4 2025$2.6BBeat by $309.1M
Q3 2025$2.5BBeat by $293.1M
Q2 2025$2.2BBeat by $203.1MQ1 2025$1.8BBeat by $65.2MQ4 2024$1.9BBeat by $99.2M

Diluted EPS

Q1 2026$10.51Beat by $3.70Q4 2025$9.37Beat by $2.62
Q3 2025$8.25Beat by $1.96
Q2 2025$6.53Beat by $1.69Q1 2025$4.75Beat by $1.09Q4 2024$4.09Beat by $0.46

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Questions, answered.

When did Comfort Systems USA report Q3 2025 earnings?
Comfort Systems USA (FIX) reported Q3 2025 earnings on October 23, 2025 after market close.
What were Comfort Systems USA's Q3 2025 revenue and EPS?
Comfort Systems USA reported revenue of $2.5B and diluted EPS of $8.25 for Q3 2025.
Did Comfort Systems USA beat estimates in Q3 2025?
Revenue beat the consensus estimate of $2.2B by $293.1M. EPS beat the consensus estimate of $6.29 by $1.96.
How did Comfort Systems USA's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 35.2% from $1.8B a year earlier and diluted EPS grew 101.7% from $4.09.
Where can I find Comfort Systems USA's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001104659-25-101821) directly on SEC EDGAR. The filing index links above go to sec.gov.