Comfort Systems USA (FIX)
NYSEIndustrialsEngineering & ConstructionSnapshot 2026-07-07
$1682.52-6.16%
Close 2026-07-07 · 1-day change
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Track FIX free→Comfort Systems USA grew revenue from $1.83B to $2.87B in one year. Earnings per share rose from $4.09 to $10.51 in the same period. The backlog increased from $5.22B to $12.45B, showing strong future demand. The company also raised dividends steadily to $0.80 per share.
The stock is selling off sharply with an 18.6% drop from its high. Guidance is soft despite recent beats. Profit margins or cash flow could weaken, hurting growth and dividend plans.
The price is about 20% above our fair value of $1423 and 29% below the Street median. Analysts expect 42% revenue growth, which is priced in. Our view is more cautious on valuation and growth sustainability.
Breaks if: backlog falls below $12.4B
Management emphasizes confidence in strong backlog, persistent demand, and robust pipelines to support continued growth.
Stated as a priority in 5 of last 5 quarters. Backlog increased substantially from about $5.22B in 2025-Q1 to $12.45B in 2026-Q1, reflecting strong demand and bookings. Management's optimism aligns with the growing backlog and robust pipelines, indicating delivering on this growth foundation.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Backlog as of March 31, 2026 was $12.45 billion; optimistic about prospects for next several quarters.”
“Backlog was $9.38 billion year-to-date 2025; optimistic about 2026.”
“Backlog as of September 30, 2024 was $5.68 billion, same-store backlog increased 21% year-over-year.”
“Backlog as of June 30, 2024 was $5.77 billion, same-store backlog 25% above last year.”
“Backlog increased from $4.19 billion in June 2023 to $5.22 billion in June 2024 on a same-store basis.”
Breaks if: dividend per share falls below $0.80
Maintain a track record of increasing the quarterly dividend to shareholders annually.
Stated as a priority in 4 of last 4 quarters. Dividend per share increased steadily from $0.45 in 2025-Q2 to $0.80 in 2026-Q1. The board has consistently declared higher dividends each quarter, delivering on the commitment to increase shareholder returns.
“Board declared a quarterly dividend of $0.80 per share, a $0.10 increase from the most recent dividend.”
“Board declared a quarterly dividend of $0.60 per share, a $0.10 increase from the most recent dividend.”
“Dividend per share was $0.50, increased from prior quarters.”
“Dividend per share was $0.45, reflecting steady increases.”
Breaks if: EPS falls below $28.88 in FY26
Continue delivering organic revenue growth, increasing earnings per share, and maintaining high operating income and cash flow.
Stated as a priority in 6 of last 6 quarters. Revenue grew from $1.83B in 2025-Q1 to $2.87B in 2026-Q1, diluted EPS increased from $4.09 to $10.51, operating income rose from $209.1M to $485.7M, and operating cash flow improved from -$87.95M to $388.8M. Management's statements and financial results show delivering strong growth and profitability.
“Organic revenue growth this quarter of 51% compared to the same quarter of last year, and per share earnings that have more than doubled.”
“We are optimistic about our prospects for 2026.”
“Per share earnings were 40% ahead of the same quarter last year, and through nine months our per share earnings were 60% higher.”
“Second quarter per share earnings were more than 90% higher than the same quarter last year.”
“YTD 2025 Revenue = $1.83B, Gross Profit = $403.4M, Diluted EPS = $4.09.”
“Revenue for the quarter was $1.81 billion, net income $146.2 million, or $4.09 per diluted share.”
Breaks if: total revenue falls below $11.9B in FY26
Continue delivering organic revenue growth, increasing earnings per share, and maintaining high operating income and cash flow.
Stated as a priority in 6 of last 6 quarters. Revenue grew from $1.83B in 2025-Q1 to $2.87B in 2026-Q1, diluted EPS increased from $4.09 to $10.51, operating income rose from $209.1M to $485.7M, and operating cash flow improved from -$87.95M to $388.8M. Management's statements and financial results show delivering strong growth and profitability.
“Organic revenue growth this quarter of 51% compared to the same quarter of last year, and per share earnings that have more than doubled.”
“We are optimistic about our prospects for 2026.”
“Per share earnings were 40% ahead of the same quarter last year, and through nine months our per share earnings were 60% higher.”
“Second quarter per share earnings were more than 90% higher than the same quarter last year.”
“YTD 2025 Revenue = $1.83B, Gross Profit = $403.4M, Diluted EPS = $4.09.”
“Revenue for the quarter was $1.81 billion, net income $146.2 million, or $4.09 per diluted share.”
Management emphasizes confidence in strong backlog, persistent demand, and robust pipelines to support continued growth.
Stated as a priority in 5 of last 5 quarters. Backlog increased substantially from about $5.22B in 2025-Q1 to $12.45B in 2026-Q1, reflecting strong demand and bookings. Management's optimism aligns with the growing backlog and robust pipelines, indicating delivering on this growth foundation.
“Backlog as of March 31, 2026 was $12.45 billion; optimistic about prospects for next several quarters.”
“Backlog was $9.38 billion year-to-date 2025; optimistic about 2026.”
“Backlog as of September 30, 2024 was $5.68 billion, same-store backlog increased 21% year-over-year.”
“Backlog as of June 30, 2024 was $5.77 billion, same-store backlog 25% above last year.”
“Backlog increased from $4.19 billion in June 2023 to $5.22 billion in June 2024 on a same-store basis.”