Ameresco Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ameresco Inc has an operating margin of 6.1%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 31/100, indicating healthy but not exceptional operating efficiency. This is up from 6.0% the prior year.
Ameresco Inc's revenue surged 28.8% year-over-year to $1.8B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Ameresco Inc has a moderate D/E ratio of 1.46. This balance of debt and equity financing earns a leverage score of 57/100.
Ameresco Inc's current ratio of 1.46 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.
Ameresco Inc has a free cash flow margin of 6.4%, earning a moderate score of 32/100. The company generates positive cash flow after capital investments, but with room for improvement.
Ameresco Inc generates a 5.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 22/100. This is down from 6.9% the prior year.
Ameresco Inc scores 1.18, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Ameresco Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Ameresco Inc generates $2.07 in operating cash flow ($117.6M OCF vs $56.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ameresco Inc earns $1.7 in operating income for every $1 of interest expense ($108.7M vs $65.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Ameresco Inc (AMRC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Ameresco Inc generated $1.8B in revenue in fiscal year 2024. This represents an increase of 28.8% from the prior year.
Ameresco Inc's EBITDA was $198.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.6% from the prior year.
Ameresco Inc generated $113.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 249.7% from the prior year.
Ameresco Inc reported $56.8M in net income in fiscal year 2024. This represents a decrease of 9.1% from the prior year.
Ameresco Inc earned $1.07 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 8.5% from the prior year.
Ameresco Inc held $108.5M in cash against $1.5B in long-term debt as of fiscal year 2024.
Ameresco Inc's gross margin was 14.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.5 percentage points from the prior year.
Ameresco Inc's operating margin was 6.1% in fiscal year 2024, reflecting core business profitability. This is up 0.2 percentage points from the prior year.
Ameresco Inc's net profit margin was 3.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.
Ameresco Inc's ROE was 5.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the prior year.
Ameresco Inc invested $4.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 24.9% from the prior year.
AMRC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $526.0M+11.4% | $472.3M+33.9% | $352.8M-33.8% | $532.7M+21.6% | $438.0M+46.8% | $298.4M-32.4% | $441.4M+31.7% | $335.1M |
| Cost of Revenue | $441.7M+10.7% | $398.9M+32.6% | $300.9M-35.4% | $465.9M+25.0% | $372.8M+48.3% | $251.4M-31.5% | $367.2M+35.2% | $271.5M |
| Gross Profit | $84.3M+15.0% | $73.4M+41.3% | $51.9M-22.3% | $66.8M+2.5% | $65.2M+38.7% | $47.0M-36.6% | $74.2M+16.5% | $63.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $43.4M-5.2% | $45.7M+18.8% | $38.5M-19.6% | $47.8M+8.2% | $44.2M+11.8% | $39.6M+7.9% | $36.7M-14.2% | $42.8M |
| Operating Income | $42.4M+52.5% | $27.8M+102.8% | $13.7M-69.3% | $44.6M+113.0% | $21.0M+162.1% | $8.0M-76.5% | $34.1M+59.0% | $21.4M |
| Interest Expense | -$20.5M-203.0% | $19.9M+7.8% | $18.5M-66.1% | $54.4M+267.4% | $14.8M+4.0% | $14.2M-68.4% | $45.1M+696.1% | -$7.6M |
| Income Tax | -$3.7M-26.8% | -$2.9M-344.1% | $1.2M+107.1% | -$16.7M | $0 | $0+100.0% | -$15.1M-50.0% | -$10.1M |
| Net Income | $18.5M+44.1% | $12.9M+334.6% | -$5.5M-114.8% | $37.1M+640.2% | $5.0M+270.6% | -$2.9M-108.7% | $33.7M+58.6% | $21.3M |
| EPS (Diluted) | $0.35+45.8% | $0.24+340.0% | $-0.10-114.1% | $0.71+688.9% | $0.09+250.0% | $-0.06-109.5% | $0.63+57.5% | $0.40 |
AMRC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B+3.1% | $4.3B+3.0% | $4.2B+0.3% | $4.2B+4.9% | $4.0B+4.3% | $3.8B+2.4% | $3.7B+7.3% | $3.5B |
| Current Assets | $1.4B+10.9% | $1.3B+1.9% | $1.3B-3.4% | $1.3B+4.9% | $1.2B+10.1% | $1.1B-0.2% | $1.1B+9.5% | $1.0B |
| Cash & Equivalents | $94.6M+15.8% | $81.6M+14.0% | $71.6M-34.0% | $108.5M-27.8% | $150.3M+93.5% | $77.7M-2.0% | $79.3M-26.4% | $107.8M |
| Inventory | $12.8M+3.2% | $12.4M+0.3% | $12.3M+6.9% | $11.6M-7.4% | $12.5M-4.5% | $13.1M-4.1% | $13.6M-0.1% | $13.6M |
| Accounts Receivable | $253.8M+3.2% | $245.9M+8.5% | $226.7M-11.8% | $257.0M+66.1% | $154.7M+5.3% | $146.8M-4.3% | $153.4M+15.2% | $133.1M |
| Goodwill | $69.2M-0.3% | $69.4M+1.6% | $68.3M+3.1% | $66.3M-11.9% | $75.2M-0.1% | $75.3M-0.4% | $75.6M-2.3% | $77.3M |
| Total Liabilities | $3.4B+3.4% | $3.3B+3.3% | $3.2B+0.4% | $3.1B+3.1% | $3.1B+5.2% | $2.9B+3.1% | $2.8B+8.5% | $2.6B |
| Current Liabilities | $939.3M+14.3% | $822.1M+3.0% | $798.3M-10.2% | $889.0M-27.9% | $1.2B+6.0% | $1.2B+28.9% | $901.5M+2.2% | $882.3M |
| Long-Term Debt | $1.7B+3.3% | $1.7B+6.0% | $1.6B+5.6% | $1.5B+37.5% | $1.1B+6.7% | $1.0B-13.5% | $1.2B+14.5% | $1.0B |
| Total Equity | $1.1B+2.0% | $1.0B+2.2% | $1.0B-0.1% | $1.0B+10.8% | $914.7M+1.1% | $904.9M+0.3% | $902.0M+3.9% | $868.5M |
| Retained Earnings | $678.4M+2.8% | $659.9M+2.0% | $647.1M-0.8% | $652.6M+9.1% | $597.9M+0.8% | $592.9M-0.5% | $595.9M+6.0% | $562.2M |
AMRC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.7M+165.9% | -$26.9M+5.1% | -$28.3M-254.0% | $18.4M-65.5% | $53.3M+156.1% | $20.8M+170.4% | -$29.6M-349.9% | -$6.6M |
| Capital Expenditures | -$352K-339.5% | $147K-65.2% | $422K-65.9% | $1.2M+12.1% | $1.1M+14.8% | $962K-13.8% | $1.1M-42.3% | $1.9M |
| Free Cash Flow | $17.4M+164.2% | -$27.0M+5.9% | -$28.7M-267.6% | $17.1M-67.2% | $52.2M+163.0% | $19.9M+164.7% | -$30.7M-260.7% | -$8.5M |
| Investing Cash Flow | -$82.2M-42.6% | -$57.7M+51.3% | -$118.4M-278.8% | -$31.2M+75.9% | -$129.4M-24.7% | -$103.8M-2.0% | -$101.8M+45.3% | -$186.0M |
| Financing Cash Flow | $89.0M-17.1% | $107.4M-6.2% | $114.5M+1189.1% | $8.9M-94.5% | $161.1M+108.2% | $77.4M-28.6% | $108.4M-59.4% | $267.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AMRC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.0%+0.5pp | 15.5%+0.8pp | 14.7%+2.2pp | 12.5%-2.3pp | 14.9%-0.9pp | 15.8%-1.1pp | 16.8%-2.2pp | 19.0% |
| Operating Margin | 8.1%+2.2pp | 5.9%+2.0pp | 3.9%-4.5pp | 8.4%+3.6pp | 4.8%+2.1pp | 2.7%-5.0pp | 7.7%+1.3pp | 6.4% |
| Net Margin | 3.5%+0.8pp | 2.7%+4.3pp | -1.6%-8.5pp | 7.0%+5.8pp | 1.1%+2.1pp | -1.0%-8.6pp | 7.6%+1.3pp | 6.3% |
| Return on Equity | 1.8%+0.5pp | 1.2% | N/A | 3.7%+3.1pp | 0.5% | N/A | 3.7%+1.3pp | 2.5% |
| Return on Assets | 0.4%+0.1pp | 0.3%+0.4pp | -0.1%-1.0pp | 0.9%+0.8pp | 0.1%+0.2pp | -0.1%-1.0pp | 0.9%+0.3pp | 0.6% |
| Current Ratio | 1.51-0.0 | 1.56-0.0 | 1.57+0.1 | 1.46+0.5 | 1.01+0.0 | 0.97-0.3 | 1.25+0.1 | 1.17 |
| Debt-to-Equity | 1.63+0.0 | 1.61+0.1 | 1.55+0.1 | 1.46+0.3 | 1.18+0.1 | 1.12-0.2 | 1.30+0.1 | 1.18 |
| FCF Margin | 3.3%+9.0pp | -5.7%+2.4pp | -8.1%-11.4pp | 3.2%-8.7pp | 11.9%+5.3pp | 6.7%+13.6pp | -7.0%-4.4pp | -2.5% |
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Frequently Asked Questions
What is Ameresco Inc's annual revenue?
Ameresco Inc (AMRC) reported $1.8B in total revenue for fiscal year 2024. This represents a 28.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ameresco Inc's revenue growing?
Ameresco Inc (AMRC) revenue grew by 28.8% year-over-year, from $1.4B to $1.8B in fiscal year 2024.
Is Ameresco Inc profitable?
Yes, Ameresco Inc (AMRC) reported a net income of $56.8M in fiscal year 2024, with a net profit margin of 3.2%.
What is Ameresco Inc's earnings per share (EPS)?
Ameresco Inc (AMRC) reported diluted earnings per share of $1.07 for fiscal year 2024. This represents a -8.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Ameresco Inc's EBITDA?
Ameresco Inc (AMRC) had EBITDA of $198.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ameresco Inc have?
As of fiscal year 2024, Ameresco Inc (AMRC) had $108.5M in cash and equivalents against $1.5B in long-term debt.
What is Ameresco Inc's gross margin?
Ameresco Inc (AMRC) had a gross margin of 14.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ameresco Inc's operating margin?
Ameresco Inc (AMRC) had an operating margin of 6.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Ameresco Inc's net profit margin?
Ameresco Inc (AMRC) had a net profit margin of 3.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Ameresco Inc's return on equity (ROE)?
Ameresco Inc (AMRC) has a return on equity of 5.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ameresco Inc's free cash flow?
Ameresco Inc (AMRC) generated $113.3M in free cash flow during fiscal year 2024. This represents a 249.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ameresco Inc's operating cash flow?
Ameresco Inc (AMRC) generated $117.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ameresco Inc's total assets?
Ameresco Inc (AMRC) had $4.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Ameresco Inc's capital expenditures?
Ameresco Inc (AMRC) invested $4.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Ameresco Inc's current ratio?
Ameresco Inc (AMRC) had a current ratio of 1.46 as of fiscal year 2024, which is considered adequate.
What is Ameresco Inc's debt-to-equity ratio?
Ameresco Inc (AMRC) had a debt-to-equity ratio of 1.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ameresco Inc's return on assets (ROA)?
Ameresco Inc (AMRC) had a return on assets of 1.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ameresco Inc's Altman Z-Score?
Ameresco Inc (AMRC) has an Altman Z-Score of 1.18, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ameresco Inc's Piotroski F-Score?
Ameresco Inc (AMRC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ameresco Inc's earnings high quality?
Ameresco Inc (AMRC) has an earnings quality ratio of 2.07x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ameresco Inc cover its interest payments?
Ameresco Inc (AMRC) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ameresco Inc?
Ameresco Inc (AMRC) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.