{ "ok": true, "cik": "1035983", "ticker": "FIX", "name": "COMFORT SYSTEMS USA, INC.", "filings": [ { "form": "8-K", "filed": "2026-08-03", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926089781/0001104659-26-089781-index.htm" }, { "form": "10-Q", "filed": "2026-07-23", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926086258/0001104659-26-086258-index.htm" }, { "form": "8-K", "filed": "2026-07-23", "items": [ "2.02 Results of Operations and Financial Condition", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926086255/0001104659-26-086255-index.htm" }, { "form": "8-K", "filed": "2026-06-22", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926076386/0001104659-26-076386-index.htm" }, { "form": "8-K", "filed": "2026-05-21", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926065127/0001104659-26-065127-index.htm" }, { "form": "8-K", "filed": "2026-05-01", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926054254/0001104659-26-054254-index.htm" } ], "events12m": 11, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-22", "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926076386/0001104659-26-076386-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001035983.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1035983" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up COMFORT SYSTEMS USA, INC. ($FIX). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-08-03. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 9101641000, "revenueGrowth1y": 0.29515077675114076, "revenueGrowthPerYear": 0.311797554089682, "yearsOfData": 5, "operatingMargin": 0.14443428388353266, "operatingMarginPrior": 0.10663415997436348, "netMargin": 0.11234875117574952, "operatingCashFlow": 1186356000, "capitalSpending": 154903000, "freeCashFlow": 1031453000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 981898000, "longTermDebt": 145226000, "longTermDebtChange": 1.125206702275554, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 3073636000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 4140364000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 5206760000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 7027476000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 9101641000 } ], "totalEquity": 2448774000, "totalAssets": 6441169000, "equityRatio": 0.380175399838135, "returnOnEquity": 0.4175795724717757, "dividendsPaid": 68833000, "payoutRatio": 0.06731451907862439, "dividendPerShare": 1.95, "dividendYearsRising": 13, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 28.93, "sharesOutstanding": 35413000, "bookValuePerShare": 69.14901307429476, "revenuePerShare": 257.0141191088019, "range80": { "low": 10539001875.55799, "high": 12636408243.607803, "baseline": 11811205741.532425, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.0339614896521971, "classVolatility": 0.07701947805587882, "volatility": 0.05952051234404947 }, "ifPaceHeld": { "low": 10539001875.55799, "high": 12636408243.607803 } }, "edgarette": "🔖 Exposure: revenue $9.1B (FY2025), total debt $145.2M. Experience: revenue up 29.5% on the year, up 31.2% a year over 4 years; operating margin 14.4%, up from 10.7%. Soundness: equity 38.0% of assets, return on equity 41.8%, payout 6.7% of profit, dividend per share up 13 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $10.5B and $12.6B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $9.9B to $13.5B. A statistical range, not company guidance. Against peers (15 filers, $50M+ revenue, its industry group): operating margin 14.4% against a 5.7% median; growth 29.5% against 16.6%.", "peers": { "sic": 1731, "sicDescription": "Electrical Work", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "17", "growth": [ 0.1662, 15 ], "opMargin": [ 0.0566, 15 ], "equityRatio": [ 0.3694, 14 ], "returnOnEquity": [ 0.1581, 12 ] }, "summary": "Comfort Systems Usa, Inc. (FIX) grew revenue 29.5% in FY2025 to $9.1 billion, operating margin 14.4% against a 5.7% median for electrical work, equity 38.0% of assets, and dividend per share up 13 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
COMFORT SYSTEMS USA, INC. against its own record and its peers
Operating marginPeer median 5.7%14.4%Revenue, on the yearPeer median 16.6%29.5%Equity of assetsPeer median 36.9%38.0%Return on equityPeer median 15.8%41.8%Payout of profit6.7%Gold tick: the median of 12–14 peers with $50M+ revenue in electrical work
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit6.7% paid out93.3% keptHanded back per share$1.95up 13 years runningGrowth its own profit can fund38.9%retained x return on equityRevenue growth it managed29.5%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:55.191Z", "hash": "4c5443edd8907dbf", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Comfort Systems Usa, Inc. (FIX) grew revenue 29.5% in FY2025 to $9.1 billion, operating margin 14.4% against a 5.7% median for electrical work, equity 38.0% of assets, and dividend per share up 13 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 9101641000, "totalDebt": 145226000, "cash": 981898000 }, "experience": { "revenueGrowth1y": 0.29515077675114076, "revenueGrowthPerYear": 0.311797554089682, "operatingMargin": 0.14443428388353266, "operatingMarginPrior": 0.10663415997436348, "netMargin": 0.11234875117574952, "freeCashFlow": 1031453000 }, "soundness": { "equityRatio": 0.380175399838135, "returnOnEquity": 0.4175795724717757, "payoutRatio": 0.06731451907862439, "dividendPerShare": 1.95, "dividendYearsRising": 13, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 1731, "sicDescription": "Electrical Work", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "17", "growth": [ 0.1662, 15 ], "opMargin": [ 0.0566, 15 ], "equityRatio": [ 0.3694, 14 ], "returnOnEquity": [ 0.1581, 12 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-06-22", "url": "https://www.sec.gov/Archives/edgar/data/1035983/000110465926076386/0001104659-26-076386-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 10539001875.55799, "high": 12636408243.607803, "baseline": 11811205741.532425, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.0339614896521971, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.05952051234404947, "k": 3 }, "stress": { "low": 9863072905.150291, "high": 13503261717.198917, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:55.191Z", "hash": "4c5443edd8907dbf", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001035983.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1035983" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.6478, "growth3y": -0.2381, "volatility": 0.8109, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.3802, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": { "code": "fading", "inside": "Turns 64.8% of revenue into operating cash; revenue shrinking 23.8% a year over three years; pays and raised its dividend.", "outside": "Among $1B-10B companies: 97th percentile for cash, 1st for growth.", "emoji": "🍂", "label": "Fading", "plain": "slow and jumpy, lagging its peers" }, "band": "$1B-10B", "cashPctInClass": 97, "growthPctInClass": 1, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1186356000, "investing": -467272000, "financing": -287125000, "capitalSpending": 154903000, "free": 1031453000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 180151000, "free": 157821000 }, { "fiscalYearEnd": "2022-12-31", "operating": 301531000, "free": 253172000 }, { "fiscalYearEnd": "2023-12-31", "operating": 639568000, "free": 544730000 }, { "fiscalYearEnd": "2024-12-31", "operating": 849057000, "free": 737986000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1186356000, "free": 1031453000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 981898000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 6441169000, "ladder": null, "currentRatio": 1.21, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.6478, "growth3y": -0.2381, "volatility": 0.8109, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.3802, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": { "code": "fading", "inside": "Turns 64.8% of revenue into operating cash; revenue shrinking 23.8% a year over three years; pays and raised its dividend.", "outside": "Among $1B-10B companies: 97th percentile for cash, 1st for growth.", "emoji": "🍂", "label": "Fading", "plain": "slow and jumpy, lagging its peers" }, "band": "$1B-10B", "cashPctInClass": 97, "growthPctInClass": 1, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1186356000, "investing": -467272000, "financing": -287125000, "capitalSpending": 154903000, "free": 1031453000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 180151000, "free": 157821000 }, { "fiscalYearEnd": "2022-12-31", "operating": 301531000, "free": 253172000 }, { "fiscalYearEnd": "2023-12-31", "operating": 639568000, "free": 544730000 }, { "fiscalYearEnd": "2024-12-31", "operating": 849057000, "free": 737986000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1186356000, "free": 1031453000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 981898000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 6441169000, "ladder": null, "currentRatio": 1.21, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }