Is the business good?
How good a business is CECO?
CECO Environmental Corp. earns 7.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
7.0%
Return on invested capital · cost of capital 9.0% · 2.0 points below what the capital costs: growth destroys value
- Operating margin
- 5.7%
Operating margin · Industrials median 10% · 12 months to Q1 2026
- Cash conversion
- −0.45×
Cash conversion · −0.12× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −2.7%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 4.2% |
| FY2021 | 3.0% |
| FY2022 | 5.2% |
| FY2023 | 6.3% |
| FY2024 | 6.3% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q1 2026
- 34%
- Operating margin12 months to Q1 2026
- 5.7%
- Net margin12 months to Q1 2026
- 1.7%
- Free cash flow margin
- −0.76%
- Revenue, trailing twelve months
- $804M
- Free cash flow, trailing twelve months
- −$6.1M
- Net income, trailing twelve months
- $14M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.