CECO Environmental (CECO) Financials

$19.10 -0.30 (-1.54%)

As of 10:50 AM Eastern

Annual Income Statements for CECO Environmental

This table shows CECO Environmental's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	17	13	13
Consolidated Net Income / (Loss)	18	15	14
Net Income / (Loss) Continuing Operations	18	15	14
Total Pre-Tax Income	24	22	18
Total Operating Income	22	35	35
Total Gross Profit	128	171	196
Total Revenue	423	545	558
Operating Revenue	423	545	558
Total Cost of Revenue	294	374	362
Operating Cost of Revenue	294	374	362
Total Operating Expenses	106	136	161
Selling, General & Admin Expense	93	123	147
Amortization Expense	6.81	8.18	9.06
Other Operating Expenses / (Income)	1.16	1.47	0.00
Restructuring Charge	4.62	3.86	4.76
Other Special Charges / (Income)	0.00	0.00	0.23
Total Other Income / (Expense), net	1.53	-13	-18
Interest Expense	5.42	13	13
Other Income / (Expense), net	6.95	0.37	-4.69
Income Tax Expense	5.43	7.02	3.27
Net Income / (Loss) Attributable to Noncontrolling Interest	0.85	1.59	1.46
Basic Earnings per Share	$0.50	$0.37	$0.37
Weighted Average Basic Shares Outstanding	34.67M	34.67M	34.93M
Diluted Earnings per Share	$0.50	$0.37	$0.36
Weighted Average Diluted Shares Outstanding	35.01M	35.33M	36.38M
Weighted Average Basic & Diluted Shares Outstanding	34.42M	34.85M	34.99M

This table shows CECO Environmental's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1.94	8.30	1.98	3.72	3.33	3.88	1.51	4.49	2.09	4.88
Consolidated Net Income / (Loss)	2.17	8.56	2.47	3.99	3.71	4.33	2.09	4.93	2.54	4.86
Net Income / (Loss) Continuing Operations	2.17	8.56	2.48	3.99	3.71	4.32	2.09	4.93	2.54	4.86
Total Pre-Tax Income	2.48	11	2.48	4.97	4.30	9.78	2.76	5.32	4.14	5.47
Total Operating Income	2.77	8.44	5.46	8.60	7.85	13	7.69	9.26	7.19	11
Total Gross Profit	32	38	35	40	43	53	45	49	45	57
Total Revenue	108	116	113	129	149	154	126	138	136	159
Operating Revenue	108	116	113	129	149	154	126	138	136	159
Total Cost of Revenue	76	79	78	89	106	101	81	88	90	102
Operating Cost of Revenue	76	79	78	89	106	101	81	88	90	102
Total Operating Expenses	30	29	29	31	35	41	37	40	38	45
Selling, General & Admin Expense	25	27	27	28	30	37	35	36	34	41
Amortization Expense	2.04	1.87	1.75	2.27	1.97	2.19	2.21	2.21	2.62	2.03
Restructuring Charge	1.29	0.72	0.49	0.33	1.60	1.43	0.33	0.89	1.20	2.34
Total Other Income / (Expense), net	-0.29	2.26	-2.98	-3.63	-3.56	-2.88	-4.93	-3.93	-3.05	-5.81
Interest Expense	1.57	1.93	2.41	3.75	3.34	3.92	3.41	3.25	2.65	3.71
Other Income / (Expense), net	1.28	4.19	-0.57	0.12	-0.22	1.04	-1.51	-0.68	-0.40	-2.10
Income Tax Expense	0.31	2.14	0.00	0.98	0.59	5.46	0.67	0.39	1.60	0.61
Net Income / (Loss) Attributable to Noncontrolling Interest	0.22	0.27	0.49	0.27	0.38	0.45	0.59	0.45	0.45	-0.02
Basic Earnings per Share	$0.06	$0.23	$0.06	$0.11	$0.10	$0.10	$0.04	$0.13	$0.06	$0.14
Weighted Average Basic Shares Outstanding	34.46M	34.67M	34.44M	34.62M	34.77M	34.67M	34.85M	34.92M	34.97M	34.93M
Diluted Earnings per Share	$0.06	$0.23	$0.06	$0.11	$0.09	$0.11	$0.04	$0.12	$0.06	$0.14
Weighted Average Diluted Shares Outstanding	34.87M	35.01M	35.20M	35.14M	35.30M	35.33M	36.18M	36.30M	36.49M	36.38M
Weighted Average Basic & Diluted Shares Outstanding	34.27M	34.42M	34.59M	34.77M	34.81M	34.85M	34.94M	34.96M	34.98M	34.99M

This table details how cash moves in and out of CECO Environmental's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	15	8.86	-17
Net Cash From Operating Activities	30	45	25
Net Cash From Continuing Operating Activities	30	45	25
Net Income / (Loss) Continuing Operations	18	15	14
Consolidated Net Income / (Loss)	18	15	14
Depreciation Expense	11	13	15
Amortization Expense	0.37	0.43	0.50
Non-Cash Adjustments To Reconcile Net Income	-9.35	33	32
Changes in Operating Assets and Liabilities, net	9.75	-16	-37
Net Cash From Investing Activities	-48	-56	-105
Net Cash From Continuing Investing Activities	-48	-56	-105
Purchase of Property, Plant & Equipment	-3.38	-8.38	-17
Acquisitions	-45	-48	-88
Sale of Property, Plant & Equipment	0.02	0.00	0.00
Net Cash From Financing Activities	38	21	66
Net Cash From Continuing Financing Activities	38	21	66
Repayment of Debt	36	-49	81
Repurchase of Common Equity	-7.02	0.00	-5.00
Payment of Dividends	-1.43	-1.67	-2.11
Issuance of Debt	11	75	0.00
Other Financing Activities, net	0.07	-2.84	-7.98
Effect of Exchange Rate Changes	-4.98	-0.44	-2.67
Cash Interest Paid	5.01	12	13
Cash Income Taxes Paid	5.38	9.92	9.55

This table details how cash moves in and out of CECO Environmental's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	0.76	10	-4.38	6.35	-0.22	7.11	-8.42	-10	2.01	-0.73
Net Cash From Operating Activities	38	9.95	-12	11	30	15	1.22	6.67	15	1.83
Net Cash From Continuing Operating Activities	1.01	9.95	-12	11	30	15	1.22	6.67	15	1.83
Net Income / (Loss) Continuing Operations	2.17	8.56	2.47	3.99	3.71	4.33	2.09	4.93	2.54	4.86
Consolidated Net Income / (Loss)	2.17	8.56	2.47	3.99	3.71	4.33	2.09	4.93	2.54	4.86
Depreciation Expense	2.94	3.01	2.89	2.77	3.12	3.74	3.51	3.46	3.56	3.99
Amortization Expense	0.09	0.09	0.09	0.09	0.09	0.16	0.12	0.12	0.12	0.14
Non-Cash Adjustments To Reconcile Net Income	-2.74	-16	9.38	28	-8.29	3.89	11	8.12	-6.05	19
Changes in Operating Assets and Liabilities, net	-1.46	15	-27	-23	31	3.04	-16	-9.97	15	-26
Net Cash From Investing Activities	-8.46	-1.00	-27	-1.41	-26	-2.87	-2.69	-4.12	-19	-79
Net Cash From Continuing Investing Activities	-8.46	-1.00	-27	-1.41	-26	-2.87	-2.69	-4.12	-19	-79
Purchase of Property, Plant & Equipment	-0.94	-1.01	-2.51	-1.41	-1.59	-2.87	-3.12	-4.12	-4.00	-6.13
Net Cash From Financing Activities	12	-0.07	34	-4.86	-4.33	-4.03	-6.53	-10	2.05	80
Net Cash From Continuing Financing Activities	12	-0.07	34	-4.86	-4.33	-4.03	-6.53	-10	2.05	80
Repayment of Debt	14	0.27	34	-3.73	-1.73	-78	-1.75	-4.95	2.46	85
Payment of Dividends	-0.30	-0.22	0.00	-0.60	-0.77	-0.30	-0.80	-0.30	-0.60	-0.40
Other Financing Activities, net	-0.15	0.52	-0.23	-1.08	-2.12	0.58	-1.23	-2.95	-0.23	-3.56
Effect of Exchange Rate Changes	-3.37	1.48	-0.06	1.21	-0.44	-1.15	-0.42	-2.63	4.24	-3.86
Cash Interest Paid	1.42	1.77	2.34	3.04	3.15	3.57	3.27	3.31	3.14	3.62
Cash Income Taxes Paid	2.60	1.81	1.29	6.32	1.03	1.28	0.98	2.83	2.98	2.77

This table presents CECO Environmental's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	505	600	760
Total Current Assets	241	281	331
Cash & Equivalents	46	55	38
Restricted Cash	1.06	0.67	0.37
Accounts Receivable	83	113	160
Inventories, net	27	34	43
Prepaid Expenses	12	12	17
Current Deferred & Refundable Income Taxes	1.27	0.82	3.83
Other Current Assets	71	67	70
Plant, Property, & Equipment, net	21	26	34
Total Noncurrent Assets	243	293	395
Goodwill	183	211	270
Intangible Assets	45	60	84
Noncurrent Deferred & Refundable Income Taxes	0.83	0.30	0.97
Other Noncurrent Operating Assets	14	21	41
Total Liabilities & Shareholders' Equity	505	600	760
Total Liabilities	287	363	508
Total Current Liabilities	147	203	245
Short-Term Debt	3.58	10	1.65
Accounts Payable	73	88	110
Accrued Expenses	34	44	48
Current Deferred Revenue	33	57	82
Current Deferred & Payable Income Tax Liabilities	3.21	1.23	2.61
Other Current Liabilities	-	2.50	1.70
Total Noncurrent Liabilities	140	160	263
Long-Term Debt	108	127	217
Noncurrent Deferred & Payable Income Tax Liabilities	8.67	8.84	11
Other Noncurrent Operating Liabilities	24	24	35
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	218	237	252
Total Preferred & Common Equity	213	233	248
Preferred Stock	0.00	0.00	0.00
Total Common Equity	213	233	248
Common Stock	251	255	256
Retained Earnings	-19	-6.39	6.57
Accumulated Other Comprehensive Income / (Loss)	-18	-16	-14
Noncontrolling Interest	4.92	4.85	4.20

This table presents CECO Environmental's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	486	568	583	600	589	598	622
Total Current Assets	223	275	291	285	272	281	276
Cash & Equivalents	35	41	48	48	47	37	39
Restricted Cash	1.03	0.97	0.94	0.75	0.47	0.39	0.23
Accounts Receivable	90	110	127	112	117	127	100
Inventories, net	25	30	32	38	38	38	38
Prepaid Expenses	14	12	16	15	11	20	27
Current Deferred & Refundable Income Taxes	0.87	1.25	6.46	6.58	0.74	3.22	3.83
Other Current Assets	57	80	62	65	59	55	69
Plant, Property, & Equipment, net	20	24	24	25	28	30	32
Total Noncurrent Assets	243	268	267	290	290	286	313
Goodwill	182	208	200	210	211	211	220
Intangible Assets	45	45	52	62	58	56	61
Noncurrent Deferred & Refundable Income Taxes	0.51	0.82	0.82	0.80	0.29	0.26	0.29
Other Noncurrent Operating Assets	15	15	14	17	20	19	31
Total Liabilities & Shareholders' Equity	486	568	583	600	589	598	622
Total Liabilities	281	345	355	370	353	358	376
Total Current Liabilities	140	172	188	203	196	207	213
Short-Term Debt	3.30	3.85	4.31	4.73	11	11	11
Accounts Payable	100	112	116	94	79	91	92
Accrued Expenses	-	-	-	44	46	45	44
Current Deferred Revenue	34	52	61	54	58	60	65
Current Deferred & Payable Income Tax Liabilities	1.80	3.19	3.79	3.47	0.82	1.21	0.00
Other Current Liabilities	0.50	1.00	2.50	2.50	1.50	0.00	1.70
Total Noncurrent Liabilities	141	174	167	167	157	151	162
Long-Term Debt	107	141	137	135	125	120	123
Noncurrent Deferred & Payable Income Tax Liabilities	9.81	8.71	7.99	7.59	9.52	9.95	9.62
Other Noncurrent Operating Liabilities	24	24	22	24	22	21	30
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	205	222	227	230	236	240	246
Total Preferred & Common Equity	201	217	222	225	232	235	241
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	201	217	222	225	232	235	241
Common Stock	250	251	253	254	252	252	254
Retained Earnings	-28	-17	-14	-10	-4.88	-0.39	1.69
Accumulated Other Comprehensive Income / (Loss)	-21	-17	-17	-18	-16	-16	-14
Noncontrolling Interest	4.88	5.42	5.08	4.70	4.63	4.77	4.62

This table displays calculated financial ratios and metrics derived from CECO Environmental's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	30.38%	28.92%	2.40%
EBITDA Growth	124.20%	19.41%	-4.48%
EBIT Growth	281.69%	20.04%	-12.11%
NOPAT Growth	308.54%	36.31%	23.92%
Net Income Growth	820.98%	-20.60%	-0.55%
EPS Growth	1,150.00%	-26.00%	-2.70%
Operating Cash Flow Growth	122.96%	50.59%	-44.39%
Free Cash Flow Firm Growth	-736.60%	52.50%	-535.90%
Invested Capital Growth	18.94%	12.93%	35.46%
Revenue Q/Q Growth	5.71%	7.35%	0.88%
EBITDA Q/Q Growth	28.83%	4.04%	-8.57%
EBIT Q/Q Growth	40.94%	3.13%	-12.83%
NOPAT Q/Q Growth	31.56%	-8.10%	24.34%
Net Income Q/Q Growth	63.08%	-22.60%	3.81%
EPS Q/Q Growth	61.29%	-24.49%	9.09%
Operating Cash Flow Q/Q Growth	30.26%	13.19%	-34.93%
Free Cash Flow Firm Q/Q Growth	14.20%	21.57%	-1,910.32%
Invested Capital Q/Q Growth	1.15%	-0.77%	27.10%
Profitability Metrics	-	-	-
Gross Margin	30.34%	31.39%	35.16%
EBITDA Margin	9.49%	8.79%	8.20%
Operating Margin	5.24%	6.34%	6.35%
EBIT Margin	6.89%	6.41%	5.50%
Profit (Net Income) Margin	4.32%	2.66%	2.58%
Tax Burden Percent	77.09%	67.37%	81.52%
Interest Burden Percent	81.38%	61.60%	57.60%
Effective Tax Rate	22.91%	32.63%	18.48%
Return on Invested Capital (ROIC)	6.56%	7.74%	7.68%
ROIC Less NNEP Spread (ROIC-NNEP)	9.01%	-4.26%	-3.32%
Return on Net Nonoperating Assets (RNNOA)	2.05%	-1.37%	-1.78%
Return on Equity (ROE)	8.61%	6.37%	5.89%
Cash Return on Invested Capital (CROIC)	-10.74%	-4.41%	-22.45%
Operating Return on Assets (OROA)	6.32%	6.32%	4.52%
Return on Assets (ROA)	3.97%	2.62%	2.12%
Return on Common Equity (ROCE)	8.48%	6.23%	5.78%
Return on Equity Simple (ROE_SIMPLE)	8.57%	6.23%	5.82%
Net Operating Profit after Tax (NOPAT)	17	23	29
NOPAT Margin	4.04%	4.27%	5.17%
Net Nonoperating Expense Percent (NNEP)	-2.44%	12.00%	11.00%
Return On Investment Capital (ROIC_SIMPLE)	5.19%	6.21%	6.13%
Cost of Revenue to Revenue	69.66%	68.61%	64.84%
SG&A Expenses to Revenue	22.12%	22.56%	26.29%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.10%	25.04%	28.81%
Earnings before Interest and Taxes (EBIT)	29	35	31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	48	46
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.88	3.03	4.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.95	1.30	1.90
Price to Earnings (P/E)	22.98	54.68	81.61
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	4.35%	1.83%	1.23%
Enterprise Value to Invested Capital (EV/IC)	1.66	2.48	2.87
Enterprise Value to Revenue (EV/Rev)	1.11	1.45	2.23
Enterprise Value to EBITDA (EV/EBITDA)	11.72	16.56	27.16
Enterprise Value to EBIT (EV/EBIT)	16.14	22.69	40.45
Enterprise Value to NOPAT (EV/NOPAT)	27.50	34.04	43.05
Enterprise Value to Operating Cash Flow (EV/OCF)	15.85	17.75	50.04
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.51	0.58	0.87
Long-Term Debt to Equity	0.49	0.53	0.86
Financial Leverage	0.23	0.32	0.54
Leverage Ratio	2.17	2.43	2.78
Compound Leverage Factor	1.77	1.49	1.60
Debt to Total Capital	33.76%	36.63%	46.49%
Short-Term Debt to Total Capital	1.09%	2.80%	0.35%
Long-Term Debt to Total Capital	32.68%	33.83%	46.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.50%	1.29%	0.89%
Common Equity to Total Capital	64.74%	62.08%	52.61%
Debt to EBITDA	2.77	2.87	4.79
Net Debt to EBITDA	1.61	1.71	3.95
Long-Term Debt to EBITDA	2.68	2.65	4.75
Debt to NOPAT	6.51	5.89	7.58
Net Debt to NOPAT	3.78	3.51	6.26
Long-Term Debt to NOPAT	6.30	5.44	7.53
Altman Z-Score	2.04	2.41	2.27
Noncontrolling Interest Sharing Ratio	1.49%	2.14%	1.85%
Liquidity Ratios	-	-	-
Current Ratio	1.64	1.39	1.35
Quick Ratio	0.88	0.82	0.81
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-28	-13	-84
Operating Cash Flow to CapEx	883.20%	532.53%	142.99%
Free Cash Flow to Firm to Interest Expense	-5.16	-0.99	-6.48
Operating Cash Flow to Interest Expense	5.47	3.33	1.91
Operating Cash Flow Less CapEx to Interest Expense	4.85	2.70	0.57
Efficiency Ratios	-	-	-
Asset Turnover	0.92	0.99	0.82
Accounts Receivable Turnover	5.35	5.56	4.10
Inventory Turnover	13.51	12.33	9.43
Fixed Asset Turnover	22.98	23.15	18.58
Accounts Payable Turnover	3.74	4.64	3.67
Days Sales Outstanding (DSO)	68.26	65.59	89.07
Days Inventory Outstanding (DIO)	27.01	29.59	38.70
Days Payable Outstanding (DPO)	97.63	78.65	99.56
Cash Conversion Cycle (CCC)	-2.35	16.54	28.21
Capital & Investment Metrics	-	-	-
Invested Capital	283	319	433
Invested Capital Turnover	1.62	1.81	1.48
Increase / (Decrease) in Invested Capital	45	37	113
Enterprise Value (EV)	470	793	1,242
Market Capitalization	400	706	1,057
Book Value per Share	$6.22	$6.68	$7.08
Tangible Book Value per Share	($0.43)	($1.11)	($3.02)
Total Capital	329	375	471
Total Debt	111	137	219
Total Long-Term Debt	108	127	217
Net Debt	65	82	181
Capital Expenditures (CapEx)	3.36	8.38	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	51	33	50
Debt-free Net Working Capital (DFNWC)	98	89	88
Net Working Capital (NWC)	94	78	86
Net Nonoperating Expense (NNE)	-1.18	8.79	14
Net Nonoperating Obligations (NNO)	65	82	181
Total Depreciation and Amortization (D&A)	11	13	15
Debt-free, Cash-free Net Working Capital to Revenue	12.06%	6.12%	8.92%
Debt-free Net Working Capital to Revenue	23.08%	16.30%	15.77%
Net Working Capital to Revenue	22.23%	14.38%	15.47%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.50	$0.37	$0.37
Adjusted Weighted Average Basic Shares Outstanding	34.67M	34.67M	34.93M
Adjusted Diluted Earnings per Share	$0.50	$0.37	$0.36
Adjusted Weighted Average Diluted Shares Outstanding	35.01M	35.33M	36.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.42M	34.85M	34.99M
Normalized Net Operating Profit after Tax (NOPAT)	21	26	33
Normalized NOPAT Margin	4.89%	4.75%	5.90%
Pre Tax Income Margin	5.61%	3.95%	3.17%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	5.37	2.60	2.36
NOPAT to Interest Expense	3.15	1.74	2.22
EBIT Less CapEx to Interest Expense	4.75	1.98	1.03
NOPAT Less CapEx to Interest Expense	2.53	1.11	0.88
Payout Ratios	-	-	-
Dividend Payout Ratio	7.80%	11.49%	14.62%
Augmented Payout Ratio	46.24%	11.49%	49.30%

This table displays calculated financial ratios and metrics derived from CECO Environmental's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.55%	24.38%	21.77%	22.59%	37.80%	32.05%	12.23%	6.46%	-9.29%	3.16%
EBITDA Growth	228.33%	132.76%	10.36%	14.02%	53.13%	11.81%	24.70%	5.00%	-3.47%	-24.38%
EBIT Growth	1,085.16%	202.37%	3.01%	13.56%	88.61%	8.39%	26.31%	-1.67%	-11.10%	-33.02%
NOPAT Growth	680.51%	189.54%	46.52%	67.39%	180.11%	-17.19%	6.73%	24.21%	-35.04%	79.22%
Net Income Growth	281.10%	471.25%	-12.14%	-15.54%	71.38%	-49.43%	-15.23%	23.56%	-31.60%	12.22%
EPS Growth	250.00%	475.00%	-25.00%	-15.38%	50.00%	-52.17%	-33.33%	9.09%	-33.33%	27.27%
Operating Cash Flow Growth	526.93%	224.62%	-5,850.99%	161.71%	-21.58%	52.28%	110.18%	-41.57%	-49.81%	-87.94%
Free Cash Flow Firm Growth	-1,251.47%	-1,607.28%	-62.46%	-55.49%	17.74%	19.09%	112.08%	88.35%	60.14%	-233.33%
Invested Capital Growth	19.47%	18.94%	21.53%	18.13%	15.12%	12.93%	-0.15%	4.21%	5.76%	35.46%
Revenue Q/Q Growth	2.88%	7.37%	-3.30%	14.76%	15.64%	2.89%	-17.81%	8.86%	-1.46%	17.01%
EBITDA Q/Q Growth	-30.27%	122.11%	-50.01%	47.27%	-6.35%	62.17%	-44.25%	24.01%	-13.90%	27.03%
EBIT Q/Q Growth	-47.29%	212.00%	-61.32%	78.51%	-12.46%	79.30%	-54.92%	38.96%	-20.86%	35.09%
NOPAT Q/Q Growth	-41.26%	178.81%	-19.13%	26.37%	-1.70%	-17.58%	4.24%	47.07%	-48.59%	127.41%
Net Income Q/Q Growth	-54.15%	295.34%	-71.17%	61.60%	-6.97%	16.65%	-51.66%	135.55%	-48.50%	91.37%
EPS Q/Q Growth	-53.85%	283.33%	-73.91%	83.33%	-18.18%	22.22%	-63.64%	200.00%	-50.00%	133.33%
Operating Cash Flow Q/Q Growth	307.62%	-74.07%	-220.78%	194.92%	163.82%	-49.65%	-91.92%	444.69%	126.62%	-87.90%
Free Cash Flow Firm Q/Q Growth	-58.72%	11.26%	-36.29%	19.00%	16.03%	12.71%	120.35%	-178.09%	-187.36%	-629.95%
Invested Capital Q/Q Growth	3.12%	1.15%	15.02%	-1.54%	0.49%	-0.77%	1.71%	2.76%	1.99%	27.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.91%	32.38%	31.00%	30.82%	28.86%	34.60%	35.72%	35.66%	33.40%	35.76%
EBITDA Margin	6.53%	13.51%	6.99%	8.96%	7.26%	11.44%	7.76%	8.84%	7.73%	8.39%
Operating Margin	2.56%	7.25%	4.85%	6.66%	5.26%	8.23%	6.08%	6.73%	5.30%	7.11%
EBIT Margin	3.73%	10.85%	4.34%	6.75%	5.11%	8.91%	4.89%	6.24%	5.01%	5.78%
Profit (Net Income) Margin	2.00%	7.36%	2.19%	3.09%	2.48%	2.82%	1.66%	3.58%	1.87%	3.06%
Tax Burden Percent	87.34%	80.01%	99.60%	80.22%	86.39%	44.30%	75.83%	92.60%	61.31%	88.90%
Interest Burden Percent	61.25%	84.72%	50.73%	57.02%	56.27%	71.39%	44.71%	62.07%	61.00%	59.60%
Effective Tax Rate	12.66%	19.99%	0.00%	19.78%	13.61%	55.81%	24.17%	7.40%	38.69%	11.11%
Return on Invested Capital (ROIC)	3.48%	9.42%	7.25%	8.43%	7.67%	6.58%	7.93%	10.81%	5.43%	9.38%
ROIC Less NNEP Spread (ROIC-NNEP)	2.99%	13.18%	3.45%	4.64%	3.96%	4.86%	4.03%	6.91%	3.43%	5.45%
Return on Net Nonoperating Assets (RNNOA)	0.77%	3.00%	1.25%	1.63%	1.51%	1.56%	1.69%	2.77%	1.34%	2.92%
Return on Equity (ROE)	4.25%	12.42%	8.49%	10.06%	9.17%	8.15%	9.62%	13.58%	6.77%	12.30%
Cash Return on Invested Capital (CROIC)	-12.68%	-10.74%	-13.34%	-9.50%	-5.63%	-4.41%	7.47%	3.66%	1.41%	-22.45%
Operating Return on Assets (OROA)	3.30%	9.96%	3.75%	5.92%	4.78%	8.78%	4.72%	5.99%	4.54%	4.75%
Return on Assets (ROA)	1.77%	6.75%	1.89%	2.71%	2.32%	2.78%	1.60%	3.44%	1.70%	2.51%
Return on Common Equity (ROCE)	4.19%	12.23%	8.28%	9.83%	8.97%	7.97%	9.41%	13.29%	6.64%	12.07%
Return on Equity Simple (ROE_SIMPLE)	5.58%	0.00%	8.27%	7.74%	8.31%	0.00%	6.10%	6.41%	5.76%	0.00%
Net Operating Profit after Tax (NOPAT)	2.42	6.75	5.46	6.90	6.78	5.59	5.83	8.57	4.41	10
NOPAT Margin	2.23%	5.80%	4.85%	5.34%	4.54%	3.64%	4.61%	6.23%	3.25%	6.32%
Net Nonoperating Expense Percent (NNEP)	0.48%	-3.76%	3.80%	3.79%	3.71%	1.72%	3.90%	3.90%	2.01%	3.93%
Return On Investment Capital (ROIC_SIMPLE)	-	2.05%	-	-	-	1.49%	-	-	-	2.13%
Cost of Revenue to Revenue	70.09%	67.62%	69.00%	69.18%	71.14%	65.40%	64.28%	64.34%	66.60%	64.24%
SG&A Expenses to Revenue	23.21%	22.91%	24.16%	22.02%	20.38%	23.98%	27.63%	26.52%	25.28%	25.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.35%	25.13%	26.15%	24.16%	23.61%	26.37%	29.64%	28.93%	28.10%	28.65%
Earnings before Interest and Taxes (EBIT)	4.05	13	4.89	8.72	7.64	14	6.17	8.58	6.79	9.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.08	16	7.86	12	11	18	9.81	12	10	13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.55	1.88	2.22	2.08	2.46	3.03	3.47	4.29	4.09	4.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.78	0.95	1.09	0.99	1.09	1.30	1.44	1.78	1.78	1.90
Price to Earnings (P/E)	30.14	22.98	29.00	28.99	32.04	54.68	64.49	76.34	82.45	81.61
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.32%	4.35%	3.45%	3.45%	3.12%	1.83%	1.55%	1.31%	1.21%	1.23%
Enterprise Value to Invested Capital (EV/IC)	1.40	1.66	1.81	1.75	2.02	2.48	2.76	3.32	3.19	2.87
Enterprise Value to Revenue (EV/Rev)	0.98	1.11	1.33	1.20	1.28	1.45	1.60	1.95	1.96	2.23
Enterprise Value to EBITDA (EV/EBITDA)	12.53	11.72	14.45	13.26	14.16	16.56	17.98	21.96	21.69	27.16
Enterprise Value to EBIT (EV/EBIT)	18.89	16.14	20.17	18.50	19.23	22.69	24.72	30.67	30.79	40.45
Enterprise Value to NOPAT (EV/NOPAT)	30.04	27.50	32.65	26.60	25.71	34.04	37.60	43.49	46.75	43.05
Enterprise Value to Operating Cash Flow (EV/OCF)	17.14	15.85	33.09	11.74	16.52	17.75	15.47	20.82	28.44	50.04
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	36.87	92.58	232.76	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.54	0.51	0.65	0.62	0.61	0.58	0.57	0.55	0.54	0.87
Long-Term Debt to Equity	0.52	0.49	0.64	0.60	0.59	0.53	0.53	0.50	0.50	0.86
Financial Leverage	0.26	0.23	0.36	0.35	0.38	0.32	0.42	0.40	0.39	0.54
Leverage Ratio	2.22	2.17	2.36	2.43	2.49	2.43	2.52	2.53	2.57	2.78
Compound Leverage Factor	1.36	1.84	1.20	1.39	1.40	1.73	1.13	1.57	1.57	1.66
Debt to Total Capital	34.94%	33.76%	39.53%	38.41%	37.82%	36.63%	36.48%	35.30%	35.17%	46.49%
Short-Term Debt to Total Capital	1.05%	1.09%	1.05%	1.17%	1.28%	2.80%	2.85%	2.85%	2.79%	0.35%
Long-Term Debt to Total Capital	33.90%	32.68%	38.49%	37.24%	36.55%	33.83%	33.64%	32.44%	32.38%	46.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.55%	1.50%	1.47%	1.38%	1.27%	1.29%	1.25%	1.29%	1.22%	0.89%
Common Equity to Total Capital	63.51%	64.74%	58.99%	60.22%	60.91%	62.08%	62.27%	63.41%	63.61%	52.61%
Debt to EBITDA	3.55	2.77	3.56	3.35	3.04	2.87	2.72	2.60	2.67	4.79
Net Debt to EBITDA	2.38	1.61	2.52	2.20	1.99	1.71	1.78	1.86	1.89	3.95
Long-Term Debt to EBITDA	3.44	2.68	3.46	3.25	2.94	2.65	2.51	2.39	2.46	4.75
Debt to NOPAT	8.50	6.51	8.04	6.72	5.52	5.89	5.70	5.14	5.75	7.58
Net Debt to NOPAT	5.71	3.78	5.70	4.42	3.62	3.51	3.72	3.69	4.07	6.26
Long-Term Debt to NOPAT	8.24	6.30	7.83	6.52	5.34	5.44	5.25	4.73	5.29	7.53
Altman Z-Score	1.64	1.93	1.82	1.81	1.93	2.29	2.49	2.83	2.63	2.17
Noncontrolling Interest Sharing Ratio	1.47%	1.49%	2.51%	2.29%	2.20%	2.14%	2.19%	2.11%	1.96%	1.85%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.59	1.64	1.61	1.55	1.40	1.39	1.38	1.36	1.30	1.35
Quick Ratio	0.90	0.88	0.88	0.93	0.79	0.82	0.83	0.79	0.65	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-43	-38	-52	-42	-35	-31	6.30	-4.92	-14	-103
Operating Cash Flow to CapEx	4,105.56%	998.29%	-478.35%	811.52%	1,890.83%	527.53%	39.28%	161.94%	377.35%	29.82%
Free Cash Flow to Firm to Interest Expense	-27.49	-19.83	-21.66	-11.27	-10.62	-7.90	1.85	-1.51	-5.34	-27.86
Operating Cash Flow to Interest Expense	24.47	5.16	-4.99	3.04	9.01	3.87	0.36	2.05	5.71	0.49
Operating Cash Flow Less CapEx to Interest Expense	23.87	4.64	-6.04	2.67	8.54	3.14	-0.55	0.78	4.19	-1.16
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.92	0.86	0.88	0.93	0.99	0.97	0.96	0.91	0.82
Accounts Receivable Turnover	5.00	5.35	4.31	4.20	5.02	5.56	4.93	4.47	5.20	4.10
Inventory Turnover	12.95	13.51	11.69	11.53	11.24	12.33	11.05	10.71	9.53	9.43
Fixed Asset Turnover	22.12	22.98	22.08	23.01	22.42	23.15	21.64	20.81	19.30	18.58
Accounts Payable Turnover	2.96	3.74	3.02	2.96	3.62	4.64	3.96	3.63	3.86	3.67
Days Sales Outstanding (DSO)	73.03	68.26	84.64	86.83	72.78	65.59	74.01	81.64	70.13	89.07
Days Inventory Outstanding (DIO)	28.18	27.01	31.23	31.66	32.48	29.59	33.05	34.08	38.31	38.70
Days Payable Outstanding (DPO)	123.50	97.63	121.02	123.37	100.89	78.65	92.20	100.44	94.45	99.56
Cash Conversion Cycle (CCC)	-22.30	-2.35	-5.15	-4.88	4.37	16.54	14.85	15.28	13.99	28.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	280	283	325	320	322	319	325	334	340	433
Invested Capital Turnover	1.56	1.62	1.49	1.58	1.69	1.81	1.72	1.73	1.67	1.48
Increase / (Decrease) in Invested Capital	46	45	58	49	42	37	-0.47	13	19	113
Enterprise Value (EV)	390	470	590	560	652	793	896	1,107	1,085	1,242
Market Capitalization	311	400	482	462	555	706	802	1,008	986	1,057
Book Value per Share	$5.82	$6.22	$6.30	$6.42	$6.48	$6.68	$6.64	$6.73	$6.90	$7.08
Tangible Book Value per Share	($0.79)	($0.43)	($1.05)	($0.87)	($1.33)	($1.11)	($1.09)	($0.91)	($1.14)	($3.02)
Total Capital	316	329	367	369	370	375	372	371	379	471
Total Debt	110	111	145	142	140	137	136	131	133	219
Total Long-Term Debt	107	108	141	137	135	127	125	120	123	217
Net Debt	74	65	103	93	92	82	89	94	94	181
Capital Expenditures (CapEx)	0.94	1.00	2.51	1.41	1.59	2.87	3.12	4.12	4.00	6.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	50	51	66	59	38	33	39	48	35	50
Debt-free Net Working Capital (DFNWC)	86	98	108	107	87	89	86	85	74	88
Net Working Capital (NWC)	83	94	104	103	82	78	75	74	63	86
Net Nonoperating Expense (NNE)	0.26	-1.81	2.99	2.91	3.07	1.26	3.74	3.64	1.87	5.16
Net Nonoperating Obligations (NNO)	74	65	103	93	92	82	89	94	94	181
Total Depreciation and Amortization (D&A)	3.03	3.10	2.98	2.86	3.21	3.89	3.63	3.58	3.68	4.13
Debt-free, Cash-free Net Working Capital to Revenue	12.49%	12.06%	14.80%	12.56%	7.58%	6.12%	6.95%	8.42%	6.29%	8.92%
Debt-free Net Working Capital to Revenue	21.55%	23.08%	24.34%	22.96%	17.10%	16.30%	15.37%	14.93%	13.32%	15.77%
Net Working Capital to Revenue	20.73%	22.23%	23.47%	22.04%	16.17%	14.38%	13.48%	13.06%	11.41%	15.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.23	$0.06	$0.11	$0.10	$0.10	$0.04	$0.13	$0.06	$0.14
Adjusted Weighted Average Basic Shares Outstanding	34.46M	34.67M	34.44M	34.62M	34.77M	34.67M	34.85M	34.92M	34.97M	34.93M
Adjusted Diluted Earnings per Share	$0.06	$0.23	$0.06	$0.11	$0.09	$0.11	$0.04	$0.12	$0.06	$0.14
Adjusted Weighted Average Diluted Shares Outstanding	34.87M	35.01M	35.20M	35.14M	35.30M	35.33M	36.18M	36.30M	36.49M	36.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.27M	34.42M	34.59M	34.77M	34.81M	34.85M	34.94M	34.96M	34.98M	34.99M
Normalized Net Operating Profit after Tax (NOPAT)	3.55	7.33	4.17	7.17	8.17	9.86	6.08	9.60	5.14	12
Normalized NOPAT Margin	3.27%	6.30%	3.70%	5.55%	5.47%	6.41%	4.81%	6.98%	3.79%	7.63%
Pre Tax Income Margin	2.29%	9.19%	2.20%	3.85%	2.88%	6.36%	2.18%	3.87%	3.06%	3.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.58	6.55	2.03	2.33	2.29	3.49	1.81	2.64	2.56	2.48
NOPAT to Interest Expense	1.54	3.50	2.27	1.84	2.03	1.43	1.71	2.63	1.66	2.70
EBIT Less CapEx to Interest Expense	1.98	6.03	0.99	1.95	1.81	2.76	0.90	1.37	1.05	0.82
NOPAT Less CapEx to Interest Expense	0.95	2.98	1.22	1.47	1.55	0.69	0.79	1.37	0.15	1.05
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	10.72%	7.80%	2.93%	6.54%	8.48%	11.49%	17.49%	14.42%	14.46%	14.62%
Augmented Payout Ratio	80.61%	46.24%	2.93%	22.22%	10.94%	11.49%	38.73%	47.61%	50.45%	49.30%

Frequently Asked Questions About CECO Environmental's Financials

When does CECO Environmental's financial year end?

According to the most recent income statement we have on file, CECO Environmental's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has CECO Environmental's net income changed over the last 2 years?

CECO Environmental's net income appears to be on a downward trend, with a most recent value of $14.42 million in 2024, falling from $18.26 million in 2022. The previous period was $14.50 million in 2023.

What is CECO Environmental's operating income?

CECO Environmental's total operating income in 2024 was $35.40 million, based on the following breakdown:

Total Gross Profit: $196.15 million
Total Operating Expenses: $160.74 million

How has CECO Environmental revenue changed over the last 2 years?

Over the last 2 years, CECO Environmental's total revenue changed from $422.63 million in 2022 to $557.93 million in 2024, a change of 32.0%.

How much debt does CECO Environmental have?

CECO Environmental's total liabilities were at $507.81 million at the end of 2024, a 40.0% increase from 2023, and a 77.2% increase since 2022.

How much cash does CECO Environmental have?

In the past 2 years, CECO Environmental's cash and equivalents has ranged from $37.83 million in 2024 to $54.78 million in 2023, and is currently $37.83 million as of their latest financial filing in 2024.

How has CECO Environmental's book value per share changed over the last 2 years?

Over the last 2 years, CECO Environmental's book value per share changed from 6.22 in 2022 to 7.08 in 2024, a change of 13.8%.

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This page (NASDAQ:CECO) was last updated on 4/25/2025 by MarketBeat.com Staff

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CECO Environmental (CECO) Financials

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CECO Environmental (CECO) Financials

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