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EMCOR Group vs IES Holdings: EME and IESC compared
EMCOR Group is the larger company: $5.5B of revenue in its latest quarter (Q3 2026) against $1.2B for IES Holdings (Q3 FY26). IES Holdings is growing faster (+40% against +29% a year earlier). IES Holdings is more profitable, with an operating margin of 14.4% against 9.8%.
Where the money goes: EME and IESC
EMCOR Group (EME) · Q3 2026
EMCOR Group, Q3 2026: revenue $5.5B (+29% year over year), operating margin 9.8%, net earnings $400M, operating cash flow $797M. The chart follows the revenue to costs, profit and cash.
IES Holdings (IESC) · Q3 FY26
IES Holdings, Q3 FY26: revenue $1.2B (+40% year over year), operating margin 14.4%, net earnings $153M, operating cash flow $108M. The chart follows the revenue to costs, profit and cash.
| EMCOR Group (EME) | IES Holdings (IESC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 FY26 |
| Revenue | $5.5B | $1.2B |
| Revenue growth, Y/Y | +29% | +40% |
| Gross margin | 20.0% | 27.4% |
| Operating margin | 9.8% | 14.4% |
| Net earnings | $400M | $153M |
| Net margin | 7.2% | 12.3% |
| Operating cash flow | $797M | $108M |
| Free cash flow | $760M | $63.8M |
| Market value | $26.3B | $3.2B |
| P/E | 17.2× | 7.3× |
| Analysts’ mean target | $907.12 | $440.00 |
Where the revenue comes from
IES Holdings
- Communications: $453M (36%)
- Residential: $324M (26%)
- Commercial and Industrial: $241M (19%)
- Infrastructure Solutions: $224M (18%)
Questions
Which is bigger, EMCOR Group or IES Holdings?
EMCOR Group is the larger company: $5.5B of revenue in its latest quarter (Q3 2026) against $1.2B for IES Holdings (Q3 FY26).
Is EMCOR Group or IES Holdings growing faster?
IES Holdings is growing faster (+40% against +29% a year earlier).
Which is more profitable, EMCOR Group or IES Holdings?
IES Holdings is more profitable, with an operating margin of 14.4% against 9.8%.
More: EMCOR Group earnings · how EMCOR Group makes money · IES Holdings earnings · how IES Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Jul 31, 2026). Fiscal quarters can end on different dates. Not investment advice.