AMRCAmeresco, Inc.
Is the business good?
The checks split: nothing decisive, though profits without cash flow.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Reports an operating profit but operating cash flow is negative, a red flag. Conversion is worsening vs a year ago.
Margins have held roughly steady, a stable cost structure.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is AMRC?
Ameresco, Inc. earns 3.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 5.9 points below what the capital costs: growth destroys value
- Operating margin
- 6.5%
Operating margin · Engineering & Construction median 7.5% · 12 months to Q2 2026
- Cash conversion
- −0.82×
Cash conversion · 0.76× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- +2.5%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2019 | 5.9% |
| FY2020 | 6.9% |
| FY2021 | 7.8% |
| FY2022 | 7.3% |
| FY2023 | 6.0% |
| FY2024 | 6.1% |
Details›
- Gross margin12 months to Q2 2026
- 16%
- Operating margin12 months to Q2 2026
- 6.5%
- Net margin12 months to Q2 2026
- 1.2%
- Free cash flow margin
- −4.3%
- Revenue, trailing twelve months
- $1.92B
- Free cash flow, trailing twelve months
- −$83M
- Net income, trailing twelve months
- $23M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Engineering & Construction
Ranks #23 of 25 by RyuScore