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CECO Environmental (CECO) Financials

CECO Environmental logo
$45.13 +0.18 (+0.40%)
Closing price 08/1/2025 04:00 PM Eastern
Extended Trading
$45.14 +0.01 (+0.02%)
As of 08/1/2025 07:55 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for CECO Environmental

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
13 -5.60 -38 -3.03 -7.12 18 8.21 1.43 17 13 13
Consolidated Net Income / (Loss)
13 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14
Net Income / (Loss) Continuing Operations
13 -5.73 -38 -3.03 -7.12 16 8.17 1.98 18 15 14
Total Pre-Tax Income
16 -3.10 -33 1.41 2.50 13 12 4.67 24 22 18
Total Operating Income
22 4.95 -26 8.02 14 18 13 9.86 22 35 35
Total Gross Profit
85 109 135 113 112 114 105 101 128 171 196
Total Revenue
263 367 417 345 337 342 316 324 423 545 558
Operating Revenue
263 367 417 345 337 342 316 324 423 545 558
Total Cost of Revenue
178 258 282 232 226 228 211 223 294 374 362
Operating Cost of Revenue
178 258 282 232 226 228 211 223 294 374 362
Total Operating Expenses
63 104 160 105 97 96 92 91 106 136 161
Selling, General & Admin Expense
62 93 102 96 97 94 77 82 93 123 147
Amortization Expense
- - - - - - 8.80 7.79 6.81 8.18 9.06
Other Operating Expenses / (Income)
- - - - 0.00 0.00 1.52 0.03 1.16 1.47 0.00
Restructuring Charge
1.27 7.94 0.52 1.90 0.00 1.56 3.69 1.45 4.62 3.86 4.76
Other Special Charges / (Income)
0.30 - - - - - - - 0.00 0.00 0.23
Total Other Income / (Expense), net
-5.45 -8.05 -7.40 -6.62 -12 -6.08 -1.50 -5.18 1.53 -13 -18
Interest Expense
3.14 5.96 7.71 6.72 7.14 5.40 3.54 2.95 5.42 13 13
Other Income / (Expense), net
-2.31 -2.08 0.31 0.11 -4.76 -0.68 2.03 -2.23 6.95 0.37 -4.69
Income Tax Expense
3.14 2.64 5.29 4.44 9.62 -4.36 3.67 2.69 5.43 7.02 3.27
Net Income / (Loss) Attributable to Noncontrolling Interest
- -0.13 -0.04 - 0.00 0.00 -0.04 0.56 0.85 1.59 1.46
Basic Earnings per Share
$0.51 ($0.19) ($1.12) ($0.09) ($0.21) ($0.51) $0.23 $0.04 $0.50 $0.37 $0.37
Weighted Average Basic Shares Outstanding
25.75M 28.79M 33.98M 34.45M 34.71M 34.99M 35.29M 35.35M 34.67M 34.67M 34.93M
Diluted Earnings per Share
$0.50 ($0.19) ($1.12) ($0.09) ($0.21) ($0.50) $0.23 $0.04 $0.50 $0.37 $0.36
Weighted Average Diluted Shares Outstanding
26.20M 28.79M 33.98M 34.45M 34.71M 35.48M 35.52M 35.59M 35.01M 35.33M 36.38M
Weighted Average Basic & Diluted Shares Outstanding
25.60M 29.50M 34.10M 33.70M 33.90M 34.99M 35.35M 35.05M 34.42M 34.85M 34.99M

Quarterly Income Statements for CECO Environmental

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
8.30 1.98 3.72 3.33 3.88 1.51 4.49 2.09 4.88 36 9.51
Consolidated Net Income / (Loss)
8.56 2.47 3.99 3.71 4.33 2.09 4.93 2.54 4.86 36 10
Net Income / (Loss) Continuing Operations
8.56 2.48 3.99 3.71 4.32 2.09 4.93 2.54 4.86 36 10
Total Pre-Tax Income
11 2.48 4.97 4.30 9.78 2.76 5.32 4.14 5.47 55 15
Total Operating Income
8.44 5.46 8.60 7.85 13 7.69 9.26 7.19 11 62 18
Total Gross Profit
38 35 40 43 53 45 49 45 57 62 67
Total Revenue
116 113 129 149 154 126 138 136 159 177 185
Operating Revenue
116 113 129 149 154 126 138 136 159 177 185
Total Cost of Revenue
79 78 89 106 101 81 88 90 102 115 118
Operating Cost of Revenue
79 78 89 106 101 81 88 90 102 115 118
Total Operating Expenses
29 29 31 35 41 37 40 38 45 0.29 49
Selling, General & Admin Expense
27 27 28 30 37 35 36 34 41 54 49
Amortization Expense
1.87 1.75 2.27 1.97 2.19 2.16 2.21 2.62 2.03 3.10 2.94
Other Operating Expenses / (Income)
- - 0.16 1.26 - - 0.64 0.00 - - -2.74
Restructuring Charge
0.72 0.49 0.33 1.60 1.43 0.19 0.48 1.20 2.34 8.14 0.03
Other Special Charges / (Income)
- - 0.00 0.00 - 0.00 0.00 0.00 - -65 0.00
Total Other Income / (Expense), net
2.26 -2.98 -3.63 -3.56 -2.88 -4.93 -3.93 -3.05 -5.81 -6.81 -3.44
Interest Expense
1.93 2.41 3.75 3.34 3.92 3.41 3.25 2.65 3.71 6.22 4.90
Other Income / (Expense), net
4.19 -0.57 0.12 -0.22 1.04 -1.51 -0.68 -0.40 -2.10 -0.59 1.45
Income Tax Expense
2.14 0.00 0.98 0.59 5.46 0.67 0.39 1.60 0.61 19 4.51
Net Income / (Loss) Attributable to Noncontrolling Interest
0.27 0.49 0.27 0.38 0.45 0.59 0.45 0.45 -0.02 0.46 0.60
Basic Earnings per Share
$0.23 $0.06 $0.11 $0.10 $0.10 $0.04 $0.13 $0.06 $0.14 $1.03 $0.27
Weighted Average Basic Shares Outstanding
34.67M 34.44M 34.62M 34.77M 34.67M 34.85M 34.92M 34.97M 34.93M 35.03M 35.29M
Diluted Earnings per Share
$0.23 $0.06 $0.11 $0.09 $0.11 $0.04 $0.12 $0.06 $0.14 $0.98 $0.26
Weighted Average Diluted Shares Outstanding
35.01M 35.20M 35.14M 35.30M 35.33M 36.18M 36.30M 36.49M 36.38M 36.69M 36.56M
Weighted Average Basic & Diluted Shares Outstanding
34.42M 34.59M 34.77M 34.81M 34.85M 34.94M 34.96M 34.98M 34.99M 35.27M 35.33M

Annual Cash Flow Statements for CECO Environmental

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
-3.80 16 10 -18 15 -7.48 0.85 -5.82 15 8.86 -17
Net Cash From Operating Activities
18 13 70 6.57 22 10 4.42 13 30 45 25
Net Cash From Continuing Operating Activities
18 13 70 6.57 22 10 4.42 13 30 45 25
Net Income / (Loss) Continuing Operations
13 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14
Consolidated Net Income / (Loss)
13 -5.73 -38 -3.03 -7.12 18 8.17 1.98 18 15 14
Depreciation Expense
11 17 19 16 13 11 9.92 9.85 11 13 15
Amortization Expense
0.56 1.06 1.05 1.03 1.14 1.06 0.42 0.40 0.37 0.43 0.50
Non-Cash Adjustments To Reconcile Net Income
1.89 9.51 73 -5.29 2.75 12 -23 6.91 -9.35 33 32
Changes in Operating Assets and Liabilities, net
-9.13 -8.72 15 -2.24 12 -31 8.67 -5.85 9.75 -16 -37
Net Cash From Investing Activities
-38 -35 -1.41 -0.66 38 -5.15 -9.24 -2.08 -48 -56 -105
Net Cash From Continuing Investing Activities
-38 -35 -1.41 -0.66 38 -5.15 -9.24 -2.08 -48 -56 -105
Purchase of Property, Plant & Equipment
-1.15 -0.76 -1.08 -1.03 -3.09 -5.66 -3.95 -2.62 -3.38 -8.38 -17
Acquisitions
-44 -37 - - - - - 0.00 -45 -48 -88
Sale of Property, Plant & Equipment
7.74 3.21 0.66 0.37 6.30 0.51 0.61 0.53 0.02 0.00 0.00
Net Cash From Financing Activities
16 39 -58 -24 -45 -12 3.72 -16 38 21 66
Net Cash From Continuing Financing Activities
16 39 -58 -24 -45 -12 3.72 -16 38 21 66
Repayment of Debt
-13 -121 -55 -12 -56 -12 4.19 -9.24 36 -49 81
Repurchase of Common Equity
-0.97 - -0.19 - - 0.00 0.00 -5.01 -7.02 0.00 -5.00
Payment of Dividends
-5.94 -7.98 -9.00 -7.79 - 0.00 0.00 -0.11 -1.43 -1.67 -2.11
Issuance of Debt
35 170 - 2.27 - - 0.00 0.00 11 75 0.00
Other Financing Activities, net
-0.48 -2.44 4.69 -8.11 11 -0.48 -0.47 -1.43 0.07 -2.84 -7.98
Effect of Exchange Rate Changes
- -0.49 - - - -0.45 1.94 -1.48 -4.98 -0.44 -2.67
Cash Interest Paid
2.82 4.74 6.92 5.69 5.56 3.55 3.17 2.15 5.01 12 13
Cash Income Taxes Paid
8.67 5.08 6.42 3.05 10 5.91 2.16 -2.57 5.38 9.92 9.55

Quarterly Cash Flow Statements for CECO Environmental

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
10 -4.38 6.35 -0.22 7.11 -8.42 -10 2.01 -0.73 108 -110
Net Cash From Operating Activities
9.95 -12 11 30 15 1.22 6.67 15 1.83 -12 -7.67
Net Cash From Continuing Operating Activities
9.95 -12 11 30 15 1.22 6.67 15 1.83 -12 -7.67
Net Income / (Loss) Continuing Operations
8.56 2.47 3.99 3.71 4.33 2.09 4.93 2.54 4.86 36 10
Consolidated Net Income / (Loss)
8.56 2.47 3.99 3.71 4.33 2.09 4.93 2.54 4.86 36 10
Depreciation Expense
3.01 2.89 2.77 3.12 3.74 3.51 3.46 3.56 3.99 5.12 5.04
Amortization Expense
0.09 0.09 0.09 0.09 0.16 0.12 0.12 0.12 0.14 0.21 0.21
Non-Cash Adjustments To Reconcile Net Income
-16 9.38 28 -8.29 3.89 11 8.12 -6.05 19 -68 -12
Changes in Operating Assets and Liabilities, net
15 -27 -23 31 3.04 -16 -9.97 15 -26 14 -11
Net Cash From Investing Activities
-1.00 -27 -1.41 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02
Net Cash From Continuing Investing Activities
-1.00 -27 -1.41 -26 -2.87 -2.69 -4.12 -19 -79 4.83 -1.02
Purchase of Property, Plant & Equipment
-1.01 -2.51 -1.41 -1.59 -2.87 -3.12 -4.12 -4.00 -6.13 -3.39 -1.05
Acquisitions
- - - - - 0.42 - - - -98 0.03
Net Cash From Financing Activities
-0.07 34 -4.86 -4.33 -4.03 -6.53 -10 2.05 80 116 -102
Net Cash From Continuing Financing Activities
-0.07 34 -4.86 -4.33 -4.03 -6.53 -10 2.05 80 116 -102
Repayment of Debt
0.27 34 -3.73 -1.73 -78 -1.75 -4.95 2.46 85 120 -101
Other Financing Activities, net
0.52 -0.23 -1.08 -2.12 0.58 -0.97 -2.95 -0.23 -3.56 -3.92 -0.38
Effect of Exchange Rate Changes
1.48 -0.06 1.21 -0.44 -1.15 -0.42 -2.63 4.24 -3.86 -0.41 0.48
Cash Interest Paid
1.77 2.34 3.04 3.15 3.57 3.27 3.31 3.14 3.62 3.99 6.95
Cash Income Taxes Paid
1.81 1.29 6.32 1.03 1.28 0.98 2.83 2.98 2.77 2.41 16

Annual Balance Sheets for CECO Environmental

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
412 599 499 439 393 409 419 416 505 600 760
Total Current Assets
143 228 213 174 161 179 183 189 241 281 331
Cash & Equivalents
18 34 46 30 44 36 36 30 46 55 38
Restricted Cash
1.20 5.32 1.50 0.59 0.76 1.36 1.82 2.09 1.06 0.67 0.37
Accounts Receivable
83 141 121 68 53 68 63 75 83 113 160
Inventories, net
23 33 21 21 21 21 17 17 27 34 43
Prepaid Expenses
9.05 9.06 14 11 12 9.90 12 11 12 12 17
Current Deferred & Refundable Income Taxes
4.19 4.72 1.59 1.93 - 8.23 7.79 2.78 1.27 0.82 3.83
Other Current Assets
- - - 34 30 35 45 51 71 67 70
Plant, Property, & Equipment, net
19 45 27 23 22 15 16 16 21 26 34
Total Noncurrent Assets
250 325 258 241 210 214 220 211 243 293 395
Goodwill
166 220 170 167 152 152 162 161 183 211 270
Intangible Assets
78 101 83 70 54 46 43 35 45 60 84
Noncurrent Deferred & Refundable Income Taxes
3.00 - - - - - 0.00 0.51 0.83 0.30 0.97
Other Noncurrent Operating Assets
3.15 3.93 5.46 4.61 3.14 16 15 14 14 21 41
Total Liabilities & Shareholders' Equity
412 599 499 439 393 409 419 416 505 600 760
Total Liabilities
231 354 309 252 214 216 216 210 287 363 508
Total Current Liabilities
78 148 146 108 104 115 109 117 147 203 245
Short-Term Debt
8.89 19 14 17 1.70 2.50 3.13 2.20 3.58 10 1.65
Accounts Payable
54 99 96 71 80 78 85 84 73 88 110
Accrued Expenses
- - - - - - - - 34 44 48
Current Deferred Revenue
15 28 35 20 20 34 21 29 33 57 82
Current Deferred & Payable Income Tax Liabilities
0.41 1.58 1.54 - 1.81 0.00 0.54 1.49 3.21 1.23 2.61
Other Current Liabilities
- - - - - - - - - 2.50 1.70
Total Noncurrent Liabilities
153 206 162 144 110 100 106 94 140 160 263
Long-Term Debt
103 158 114 104 74 63 69 62 108 127 217
Noncurrent Deferred & Payable Income Tax Liabilities
22 18 13 10 8.76 5.94 6.97 8.39 8.67 8.84 11
Other Noncurrent Operating Liabilities
28 30 35 30 27 31 30 24 24 24 35
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
181 245 190 187 179 193 204 206 218 237 252
Total Preferred & Common Equity
181 239 190 187 179 193 203 205 213 233 248
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
181 239 190 187 179 193 203 205 213 233 248
Common Stock
169 244 245 249 252 254 256 253 251 255 256
Retained Earnings
19 5.47 -42 -53 -59 -46 -38 -37 -19 -6.39 6.57
Accumulated Other Comprehensive Income / (Loss)
-6.62 -9.58 -13 -8.92 -13 -15 -14 -12 -18 -16 -14
Noncontrolling Interest
- 5.87 - - - 0.00 0.95 1.40 4.92 4.85 4.20

Quarterly Balance Sheets for CECO Environmental

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 Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets
482 486 568 583 600 589 598 622 957 877
Total Current Assets
219 223 275 291 285 272 281 276 476 383
Cash & Equivalents
34 35 41 48 48 47 37 39 146 37
Restricted Cash
1.04 1.03 0.97 0.94 0.75 0.47 0.39 0.23 0.21 0.09
Accounts Receivable
95 90 110 127 112 117 127 100 152 161
Inventories, net
24 25 30 32 38 38 38 38 53 60
Prepaid Expenses
12 14 12 16 15 11 20 27 37 30
Current Deferred & Refundable Income Taxes
0.89 0.87 1.25 6.46 6.58 0.74 3.22 3.83 3.86 3.86
Other Current Assets
51 57 80 62 65 59 55 69 83 91
Plant, Property, & Equipment, net
16 20 24 24 25 28 30 32 46 47
Total Noncurrent Assets
247 243 268 267 290 290 286 313 435 447
Goodwill
186 182 208 200 210 211 211 220 275 288
Intangible Assets
45 45 45 52 62 58 56 61 119 117
Noncurrent Deferred & Refundable Income Taxes
0.51 0.51 0.82 0.82 0.80 0.29 0.26 0.29 0.21 0.29
Other Noncurrent Operating Assets
15 15 15 14 17 20 19 31 41 42
Total Liabilities & Shareholders' Equity
482 486 568 583 600 589 598 622 957 877
Total Liabilities
271 281 345 355 370 353 358 376 667 573
Total Current Liabilities
144 140 172 188 203 196 207 213 279 285
Short-Term Debt
3.30 3.30 3.85 4.31 4.73 11 11 11 1.67 1.86
Accounts Payable
101 100 112 116 94 79 91 92 110 126
Accrued Expenses
- - - - 44 46 45 44 59 54
Current Deferred Revenue
36 34 52 61 54 58 60 65 88 93
Current Deferred & Payable Income Tax Liabilities
3.09 1.80 3.19 3.79 3.47 0.82 1.21 0.00 20 8.51
Other Current Liabilities
0.50 0.50 1.00 2.50 2.50 1.50 0.00 1.70 0.70 1.70
Total Noncurrent Liabilities
127 141 174 167 167 157 151 162 388 288
Long-Term Debt
93 107 141 137 135 125 120 123 338 237
Noncurrent Deferred & Payable Income Tax Liabilities
10.00 9.81 8.71 7.99 7.59 9.52 9.95 9.62 26 29
Other Noncurrent Operating Liabilities
24 24 24 22 24 22 21 30 24 23
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
210 205 222 227 230 236 240 246 290 303
Total Preferred & Common Equity
206 201 217 222 225 232 235 241 286 298
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
206 201 217 222 225 232 235 241 286 298
Common Stock
251 250 251 253 254 252 252 254 256 259
Retained Earnings
-30 -28 -17 -14 -10 -4.88 -0.39 1.69 43 52
Accumulated Other Comprehensive Income / (Loss)
-16 -21 -17 -17 -18 -16 -16 -14 -13 -13
Noncontrolling Interest
4.96 4.88 5.42 5.08 4.70 4.63 4.77 4.62 4.26 4.86

Annual Metrics And Ratios for CECO Environmental

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
33.40% 39.59% 13.50% -17.26% -2.24% 1.34% -7.56% 2.57% 30.38% 28.92% 2.40%
EBITDA Growth
109.20% -34.42% -125.89% 576.88% -4.75% 20.77% -11.47% -30.46% 124.20% 19.41% -4.48%
EBIT Growth
143.30% -85.18% -980.47% 132.20% 18.54% 80.34% -11.51% -50.41% 281.69% 20.04% -12.11%
NOPAT Growth
146.70% -80.17% -616.51% 3.60% -137.94% 158.39% -61.58% -54.59% 308.54% 36.31% 23.92%
Net Income Growth
99.44% -143.85% -567.14% 92.08% -135.09% 348.66% -53.85% -75.73% 820.98% -20.60% -0.55%
EPS Growth
56.25% -138.00% -489.47% 91.96% -133.33% -138.10% 146.00% -82.61% 1,150.00% -26.00% -2.70%
Operating Cash Flow Growth
-26.95% -28.46% 450.76% -90.56% 234.12% -53.41% -56.77% 200.79% 122.96% 50.59% -44.39%
Free Cash Flow Firm Growth
85.43% -312.91% 192.31% -122.23% 182.12% -33.65% -164.30% 156.46% -736.60% 52.50% -535.90%
Invested Capital Growth
19.33% 41.41% -30.89% 1.87% -22.08% 5.68% 7.69% -0.09% 18.94% 12.93% 35.46%
Revenue Q/Q Growth
2.88% 7.34% -0.30% -7.12% 6.41% -1.28% -2.01% 3.40% 5.71% 7.35% 0.88%
EBITDA Q/Q Growth
-5.05% -8.10% -111.58% 247.30% 116.12% -0.12% -5.28% -3.84% 28.83% 4.04% -8.57%
EBIT Q/Q Growth
-6.69% -58.61% -203.86% 123.82% 335.45% 5.03% -9.67% -6.07% 40.94% 3.13% -12.83%
NOPAT Q/Q Growth
2.30% 227.69% -221.67% 27.93% -119,760.13% 43.48% -45.69% 16.59% 31.56% -8.10% 24.34%
Net Income Q/Q Growth
-6.49% -764.86% -494.09% 92.89% 63.75% 72.89% -43.94% -19.88% 63.08% -22.60% 3.81%
EPS Q/Q Growth
-5.66% -1,800.00% -514.81% 92.80% 63.16% -285.19% 140.35% -20.00% 61.29% -24.49% 9.09%
Operating Cash Flow Q/Q Growth
-12.14% 405.08% -6.43% -57.97% 94.25% -42.15% -77.87% 140.12% 30.26% 13.19% -34.93%
Free Cash Flow Firm Q/Q Growth
-275.91% 36.04% 12.02% -200.44% -70.54% -39.25% -218.17% 439.83% 14.20% 21.57% -1,910.32%
Invested Capital Q/Q Growth
12.34% -6.19% -20.63% -6.12% -6.67% 0.06% 2.91% 1.60% 1.15% -0.77% 27.10%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
32.23% 29.71% 32.34% 32.81% 33.06% 33.38% 33.27% 31.14% 30.34% 31.39% 35.16%
EBITDA Margin
11.85% 5.57% -1.27% 7.32% 7.13% 8.50% 8.14% 5.52% 9.49% 8.79% 8.20%
Operating Margin
8.23% 1.35% -6.13% 2.33% 4.27% 5.28% 4.22% 3.04% 5.24% 6.34% 6.35%
EBIT Margin
7.35% 0.78% -6.06% 2.36% 2.86% 5.08% 4.87% 2.35% 6.89% 6.41% 5.50%
Profit (Net Income) Margin
4.97% -1.56% -9.17% -0.88% -2.11% 5.18% 2.59% 0.61% 4.32% 2.66% 2.58%
Tax Burden Percent
80.65% 185.21% 116.05% -214.98% -285.18% 132.70% 69.00% 42.43% 77.09% 67.37% 81.52%
Interest Burden Percent
83.78% -107.95% 130.54% 17.33% 25.91% 76.78% 77.01% 61.29% 81.38% 61.60% 57.60%
Effective Tax Rate
19.35% 0.00% 0.00% 314.98% 385.18% -32.70% 31.00% 57.57% 22.91% 32.63% 18.48%
Return on Invested Capital (ROIC)
7.05% 1.06% -5.55% -6.49% -17.19% 11.15% 4.01% 1.76% 6.56% 7.74% 7.68%
ROIC Less NNEP Spread (ROIC-NNEP)
0.94% -7.13% -24.99% 11.85% 43.21% -10.26% 0.69% -4.89% 9.01% -4.26% -3.32%
Return on Net Nonoperating Assets (RNNOA)
0.38% -3.76% -12.03% 4.88% 13.29% -1.61% 0.11% -0.79% 2.05% -1.37% -1.78%
Return on Equity (ROE)
7.44% -2.69% -17.58% -1.61% -3.90% 9.53% 4.12% 0.97% 8.61% 6.37% 5.89%
Cash Return on Invested Capital (CROIC)
-10.57% -33.24% 30.97% -8.34% 7.63% 5.62% -3.39% 1.85% -10.74% -4.41% -22.45%
Operating Return on Assets (OROA)
5.08% 0.57% -4.60% 1.74% 2.32% 4.34% 3.72% 1.83% 6.32% 6.32% 4.52%
Return on Assets (ROA)
3.44% -1.13% -6.97% -0.65% -1.71% 4.42% 1.97% 0.47% 3.97% 2.62% 2.12%
Return on Common Equity (ROCE)
7.44% -2.65% -17.35% -1.61% -3.90% 9.53% 4.11% 0.96% 8.48% 6.23% 5.78%
Return on Equity Simple (ROE_SIMPLE)
7.22% -2.40% -20.13% -1.62% -3.99% 9.17% 4.03% 0.97% 8.57% 6.23% 5.82%
Net Operating Profit after Tax (NOPAT)
17 3.46 -18 -17 -41 24 9.21 4.18 17 23 29
NOPAT Margin
6.64% 0.94% -4.29% -5.00% -12.17% 7.01% 2.91% 1.29% 4.04% 4.27% 5.17%
Net Nonoperating Expense Percent (NNEP)
6.11% 8.20% 19.44% -18.33% -60.40% 21.40% 3.33% 6.65% -2.44% 12.00% 11.00%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 5.19% 6.21% 6.13%
Cost of Revenue to Revenue
67.77% 70.29% 67.66% 67.20% 66.94% 66.62% 66.73% 68.86% 69.66% 68.61% 64.84%
SG&A Expenses to Revenue
23.40% 25.30% 24.45% 27.85% 28.80% 27.64% 24.34% 25.24% 22.12% 22.56% 26.29%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
24.00% 28.37% 38.47% 30.48% 28.80% 28.09% 29.04% 28.09% 25.10% 25.04% 28.81%
Earnings before Interest and Taxes (EBIT)
19 2.87 -25 8.13 9.64 17 15 7.63 29 35 31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
31 20 -5.30 25 24 29 26 18 40 48 46
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.04 1.04 2.45 0.95 1.32 1.40 1.22 1.09 1.88 3.03 4.27
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 28.24 0.00 0.00 0.00
Price to Revenue (P/Rev)
1.41 0.67 1.11 0.52 0.70 0.79 0.78 0.69 0.95 1.30 1.90
Price to Earnings (P/E)
28.29 0.00 0.00 0.00 0.00 15.25 30.10 156.45 22.98 54.68 81.61
Dividend Yield
1.61% 3.63% 1.94% 5.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
3.54% 0.00% 0.00% 0.00% 0.00% 6.56% 3.32% 0.64% 4.35% 1.83% 1.23%
Enterprise Value to Invested Capital (EV/IC)
1.72 1.03 2.07 1.00 1.28 1.35 1.19 1.08 1.66 2.48 2.87
Enterprise Value to Revenue (EV/Rev)
1.76 1.07 1.31 0.78 0.79 0.87 0.90 0.79 1.11 1.45 2.23
Enterprise Value to EBITDA (EV/EBITDA)
14.83 19.14 0.00 10.60 11.13 10.28 11.00 14.33 11.72 16.56 27.16
Enterprise Value to EBIT (EV/EBIT)
23.90 136.45 0.00 32.93 27.77 17.18 18.39 33.61 16.14 22.69 40.45
Enterprise Value to NOPAT (EV/NOPAT)
26.47 112.96 0.00 0.00 0.00 12.46 30.72 61.28 27.50 34.04 43.05
Enterprise Value to Operating Cash Flow (EV/OCF)
26.18 30.97 7.85 40.74 12.19 29.19 63.98 19.27 15.85 17.75 50.04
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 5.47 0.00 14.69 24.69 0.00 58.39 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.62 0.72 0.68 0.64 0.43 0.34 0.36 0.31 0.51 0.58 0.87
Long-Term Debt to Equity
0.57 0.64 0.60 0.56 0.42 0.33 0.34 0.30 0.49 0.53 0.86
Financial Leverage
0.41 0.53 0.48 0.41 0.31 0.16 0.16 0.16 0.23 0.32 0.54
Leverage Ratio
2.17 2.37 2.52 2.49 2.28 2.16 2.09 2.04 2.17 2.43 2.78
Compound Leverage Factor
1.81 -2.56 3.29 0.43 0.59 1.66 1.61 1.25 1.77 1.49 1.60
Debt to Total Capital
38.17% 41.99% 40.33% 39.17% 29.90% 25.34% 26.29% 23.65% 33.76% 36.63% 46.49%
Short-Term Debt to Total Capital
3.03% 4.62% 4.43% 5.41% 0.67% 0.97% 1.13% 0.82% 1.09% 2.80% 0.35%
Long-Term Debt to Total Capital
35.13% 37.37% 35.90% 33.76% 29.23% 24.37% 25.16% 22.83% 32.68% 33.83% 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% 0.00%
Noncontrolling Interests to Total Capital
0.00% 1.39% 0.00% 0.00% 0.00% 0.00% 0.35% 0.52% 1.50% 1.29% 0.89%
Common Equity to Total Capital
61.83% 56.62% 59.67% 60.83% 70.10% 74.66% 73.37% 75.83% 64.74% 62.08% 52.61%
Debt to EBITDA
3.59 8.67 -24.27 4.76 3.17 2.25 2.82 3.57 2.77 2.87 4.79
Net Debt to EBITDA
2.97 6.74 -15.33 3.55 1.32 0.98 1.35 1.78 1.61 1.71 3.95
Long-Term Debt to EBITDA
3.30 7.72 -21.60 4.10 3.10 2.17 2.70 3.44 2.68 2.65 4.75
Debt to NOPAT
6.40 51.19 -7.18 -6.96 -1.86 2.73 7.89 15.25 6.51 5.89 7.58
Net Debt to NOPAT
5.29 39.78 -4.54 -5.20 -0.77 1.19 3.78 7.60 3.78 3.51 6.26
Long-Term Debt to NOPAT
5.89 45.56 -6.39 -6.00 -1.81 2.63 7.55 14.72 6.30 5.44 7.53
Altman Z-Score
2.01 1.22 1.62 1.28 1.56 1.76 1.65 1.56 2.04 2.41 2.27
Noncontrolling Interest Sharing Ratio
0.00% 1.38% 1.35% 0.00% 0.00% 0.00% 0.24% 0.58% 1.49% 2.14% 1.85%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.84 1.54 1.46 1.61 1.55 1.56 1.68 1.62 1.64 1.39 1.35
Quick Ratio
1.30 1.18 1.14 0.91 0.93 0.90 0.91 0.90 0.88 0.82 0.81
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-26 -108 100 -22 18 12 -7.77 4.39 -28 -13 -84
Operating Cash Flow to CapEx
0.00% 0.00% 16,610.74% 995.45% 0.00% 198.74% 132.37% 638.41% 883.20% 532.53% 142.99%
Free Cash Flow to Firm to Interest Expense
-8.35 -18.13 12.94 -3.30 2.55 2.24 -2.20 1.49 -5.16 -0.99 -6.48
Operating Cash Flow to Interest Expense
5.63 2.12 9.02 0.98 3.07 1.89 1.25 4.50 5.47 3.33 1.91
Operating Cash Flow Less CapEx to Interest Expense
7.73 2.53 8.97 0.88 3.52 0.94 0.31 3.80 4.85 2.70 0.57
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.69 0.73 0.76 0.74 0.81 0.85 0.76 0.78 0.92 0.99 0.82
Accounts Receivable Turnover
3.81 3.28 3.18 3.65 5.57 5.62 4.81 4.70 5.35 5.56 4.10
Inventory Turnover
7.34 9.24 10.45 10.92 10.81 11.00 11.12 12.98 13.51 12.33 9.43
Fixed Asset Turnover
13.16 11.49 11.54 13.62 14.80 18.25 20.06 20.15 22.98 23.15 18.58
Accounts Payable Turnover
4.05 3.38 2.90 2.79 2.99 2.87 2.58 2.64 3.74 4.64 3.67
Days Sales Outstanding (DSO)
95.85 111.12 114.72 100.06 65.58 64.95 75.93 77.72 68.26 65.59 89.07
Days Inventory Outstanding (DIO)
49.70 39.52 34.93 33.42 33.77 33.17 32.82 28.12 27.01 29.59 38.70
Days Payable Outstanding (DPO)
90.20 108.06 125.94 130.97 122.05 127.04 141.34 138.24 97.63 78.65 99.56
Cash Conversion Cycle (CCC)
55.34 42.58 23.71 2.50 -22.71 -28.92 -32.59 -32.40 -2.35 16.54 28.21
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
270 381 263 268 209 221 238 238 283 319 433
Invested Capital Turnover
1.06 1.13 1.29 1.30 1.41 1.59 1.38 1.36 1.62 1.81 1.48
Increase / (Decrease) in Invested Capital
44 112 -118 4.94 -59 12 17 -0.21 45 37 113
Enterprise Value (EV)
462 391 546 268 268 299 283 256 470 793 1,242
Market Capitalization
370 248 465 178 236 270 247 223 400 706 1,057
Book Value per Share
$7.01 $7.02 $5.56 $5.38 $5.11 $5.48 $5.71 $5.71 $6.22 $6.68 $7.08
Tangible Book Value per Share
($2.43) ($2.42) ($1.84) ($1.44) ($0.80) ($0.13) ($0.05) $0.22 ($0.43) ($1.11) ($3.02)
Total Capital
293 422 319 307 255 259 276 270 329 375 471
Total Debt
112 177 128 120 76 66 73 64 111 137 219
Total Long-Term Debt
103 158 114 104 74 63 69 62 108 127 217
Net Debt
92 138 81 90 32 29 35 32 65 82 181
Capital Expenditures (CapEx)
-6.59 -2.44 0.42 0.66 -3.21 5.15 3.34 2.08 3.36 8.38 17
Debt-free, Cash-free Net Working Capital (DFCFNWC)
55 60 33 52 14 30 39 43 51 33 50
Debt-free Net Working Capital (DFNWC)
74 100 81 83 59 67 77 75 98 89 88
Net Working Capital (NWC)
65 80 67 66 57 64 74 72 94 78 86
Net Nonoperating Expense (NNE)
4.39 9.20 20 -14 -34 6.26 1.04 2.20 -1.18 8.79 14
Net Nonoperating Obligations (NNO)
88 136 73 82 31 28 34 32 65 82 181
Total Depreciation and Amortization (D&A)
12 18 20 17 14 12 10 10 11 13 15
Debt-free, Cash-free Net Working Capital to Revenue
20.76% 16.40% 8.02% 15.13% 4.22% 8.73% 12.48% 13.12% 12.06% 6.12% 8.92%
Debt-free Net Working Capital to Revenue
28.12% 27.16% 19.36% 23.96% 17.39% 19.54% 24.45% 22.99% 23.08% 16.30% 15.77%
Net Working Capital to Revenue
24.74% 21.85% 15.98% 19.15% 16.89% 18.81% 23.46% 22.31% 22.23% 14.38% 15.47%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.51 ($0.19) ($1.12) ($0.09) ($0.21) $0.51 $0.23 $0.04 $0.50 $0.37 $0.37
Adjusted Weighted Average Basic Shares Outstanding
25.75M 28.79M 33.98M 34.45M 34.71M 34.99M 35.29M 35.35M 34.67M 34.67M 34.93M
Adjusted Diluted Earnings per Share
$0.50 ($0.19) ($1.12) ($0.09) ($0.21) $0.50 $0.23 $0.04 $0.50 $0.37 $0.36
Adjusted Weighted Average Diluted Shares Outstanding
26.20M 28.79M 33.98M 34.45M 34.71M 35.48M 35.52M 35.59M 35.01M 35.33M 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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
26.41M 33.07M 34.39M 34.74M 34.98M 35.28M 35.35M 35.05M 34.42M 34.85M 34.99M
Normalized Net Operating Profit after Tax (NOPAT)
19 11 23 12 10 14 12 7.91 21 26 33
Normalized NOPAT Margin
7.12% 3.09% 5.52% 3.47% 2.99% 4.02% 3.90% 2.44% 4.89% 4.75% 5.90%
Pre Tax Income Margin
6.16% -0.84% -7.90% 0.41% 0.74% 3.90% 3.75% 1.44% 5.61% 3.95% 3.17%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
6.17 0.48 -3.27 1.21 1.35 3.22 4.35 2.58 5.37 2.60 2.36
NOPAT to Interest Expense
5.57 0.58 -2.32 -2.57 -5.75 4.44 2.60 1.42 3.15 1.74 2.22
EBIT Less CapEx to Interest Expense
8.27 0.89 -3.33 1.11 1.80 2.27 3.41 1.88 4.75 1.98 1.03
NOPAT Less CapEx to Interest Expense
7.67 0.99 -2.37 -2.66 -5.30 3.49 1.66 0.71 2.53 1.11 0.88
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
45.40% -139.12% -23.51% -257.25% 0.00% 0.00% 0.00% 5.40% 7.80% 11.49% 14.62%
Augmented Payout Ratio
52.84% -139.12% -24.01% -257.25% 0.00% 0.00% 0.00% 258.25% 46.24% 11.49% 49.30%

Quarterly Metrics And Ratios for CECO Environmental

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
24.38% 21.77% 22.59% 37.80% 32.05% 12.23% 6.46% -9.29% 3.16% 39.87% 34.81%
EBITDA Growth
132.76% 10.36% 14.02% 53.13% 11.81% 24.70% 5.00% -3.47% -24.38% 579.21% 103.66%
EBIT Growth
202.37% 3.01% 13.56% 88.61% 8.39% 26.31% -1.67% -11.10% -33.02% 892.65% 127.50%
NOPAT Growth
189.54% 46.52% 67.39% 180.11% -17.19% 6.73% 24.21% -35.04% 79.22% 602.58% 45.67%
Net Income Growth
471.25% -12.14% -15.54% 71.38% -49.43% -15.23% 23.56% -31.60% 12.22% 1,641.14% 104.99%
EPS Growth
475.00% -25.00% -15.38% 50.00% -52.17% -33.33% 9.09% -33.33% 27.27% 2,350.00% 116.67%
Operating Cash Flow Growth
224.62% -5,850.99% 161.71% -21.58% 52.28% 110.18% -41.57% -49.81% -87.94% -1,055.56% -215.00%
Free Cash Flow Firm Growth
-1,607.28% -62.46% -55.49% 17.74% 19.09% 112.08% 88.35% 60.14% -233.33% -1,962.41% -3,127.62%
Invested Capital Growth
18.94% 21.53% 18.13% 15.12% 12.93% -0.15% 4.21% 5.76% 35.46% 48.75% 51.34%
Revenue Q/Q Growth
7.37% -3.30% 14.76% 15.64% 2.89% -17.81% 8.86% -1.46% 17.01% 11.43% 4.92%
EBITDA Q/Q Growth
122.11% -50.01% 47.27% -6.35% 62.17% -44.25% 24.01% -13.90% 27.03% 400.77% -62.82%
EBIT Q/Q Growth
212.00% -61.32% 78.51% -12.46% 79.30% -54.92% 38.96% -20.86% 35.09% 568.15% -68.15%
NOPAT Q/Q Growth
178.81% -19.13% 26.37% -1.70% -17.58% 4.24% 47.07% -48.59% 127.41% 308.64% -69.51%
Net Income Q/Q Growth
295.34% -71.17% 61.60% -6.97% 16.65% -51.66% 135.55% -48.50% 91.37% 649.99% -72.27%
EPS Q/Q Growth
283.33% -73.91% 83.33% -18.18% 22.22% -63.64% 200.00% -50.00% 133.33% 600.00% -73.47%
Operating Cash Flow Q/Q Growth
-74.07% -220.78% 194.92% 163.82% -49.65% -91.92% 444.69% 126.62% -87.90% -739.82% 34.45%
Free Cash Flow Firm Q/Q Growth
11.26% -36.29% 19.00% 16.03% 12.71% 120.35% -178.09% -187.36% -629.95% -13.69% -35.34%
Invested Capital Q/Q Growth
1.15% 15.02% -1.54% 0.49% -0.77% 1.71% 2.76% 1.99% 27.10% 11.68% 4.55%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
32.38% 31.00% 30.82% 28.86% 34.60% 35.72% 35.66% 33.40% 35.76% 35.18% 36.20%
EBITDA Margin
13.51% 6.99% 8.96% 7.26% 11.44% 7.76% 8.84% 7.73% 8.39% 37.69% 13.36%
Operating Margin
7.25% 4.85% 6.66% 5.26% 8.23% 6.08% 6.73% 5.30% 7.11% 35.01% 9.74%
EBIT Margin
10.85% 4.34% 6.75% 5.11% 8.91% 4.89% 6.24% 5.01% 5.78% 34.68% 10.53%
Profit (Net Income) Margin
7.36% 2.19% 3.09% 2.48% 2.82% 1.66% 3.58% 1.87% 3.06% 20.62% 5.45%
Tax Burden Percent
80.01% 99.60% 80.22% 86.39% 44.30% 75.83% 92.60% 61.31% 88.90% 66.19% 69.14%
Interest Burden Percent
84.72% 50.73% 57.02% 56.27% 71.39% 44.71% 62.07% 61.00% 59.60% 89.85% 74.90%
Effective Tax Rate
19.99% 0.00% 19.78% 13.61% 55.81% 24.17% 7.40% 38.69% 11.11% 33.81% 30.86%
Return on Invested Capital (ROIC)
9.42% 7.25% 8.43% 7.67% 6.58% 7.93% 10.81% 5.43% 9.38% 34.90% 10.54%
ROIC Less NNEP Spread (ROIC-NNEP)
13.18% 3.45% 4.64% 3.96% 4.86% 4.03% 6.91% 3.43% 5.45% 31.70% 8.93%
Return on Net Nonoperating Assets (RNNOA)
3.00% 1.25% 1.63% 1.51% 1.56% 1.69% 2.77% 1.34% 2.92% 16.97% 4.86%
Return on Equity (ROE)
12.42% 8.49% 10.06% 9.17% 8.15% 9.62% 13.58% 6.77% 12.30% 51.87% 15.40%
Cash Return on Invested Capital (CROIC)
-10.74% -13.34% -9.50% -5.63% -4.41% 7.47% 3.66% 1.41% -22.45% -23.74% -24.89%
Operating Return on Assets (OROA)
9.96% 3.75% 5.92% 4.78% 8.78% 4.72% 5.99% 4.54% 4.75% 27.29% 9.37%
Return on Assets (ROA)
6.75% 1.89% 2.71% 2.32% 2.78% 1.60% 3.44% 1.70% 2.51% 16.23% 4.85%
Return on Common Equity (ROCE)
12.23% 8.28% 9.83% 8.97% 7.97% 9.41% 13.29% 6.64% 12.07% 50.99% 15.13%
Return on Equity Simple (ROE_SIMPLE)
0.00% 8.27% 7.74% 8.31% 0.00% 6.10% 6.41% 5.76% 0.00% 17.06% 0.00%
Net Operating Profit after Tax (NOPAT)
6.75 5.46 6.90 6.78 5.59 5.83 8.57 4.41 10 41 12
NOPAT Margin
5.80% 4.85% 5.34% 4.54% 3.64% 4.61% 6.23% 3.25% 6.32% 23.18% 6.74%
Net Nonoperating Expense Percent (NNEP)
-3.76% 3.80% 3.79% 3.71% 1.72% 3.90% 3.90% 2.01% 3.93% 3.20% 1.61%
Return On Investment Capital (ROIC_SIMPLE)
2.05% - - - 1.49% - - - 2.13% 6.50% 2.30%
Cost of Revenue to Revenue
67.62% 69.00% 69.18% 71.14% 65.40% 64.28% 64.34% 66.60% 64.24% 64.82% 63.80%
SG&A Expenses to Revenue
22.91% 24.16% 22.02% 20.38% 23.98% 27.63% 26.52% 25.28% 25.90% 30.31% 26.33%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
25.13% 26.15% 24.16% 23.61% 26.37% 29.64% 28.93% 28.10% 28.65% 0.17% 26.46%
Earnings before Interest and Taxes (EBIT)
13 4.89 8.72 7.64 14 6.17 8.58 6.79 9.17 61 20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
16 7.86 12 11 18 9.81 12 10 13 67 25
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.88 2.22 2.08 2.46 3.03 3.47 4.29 4.09 4.27 2.79 3.35
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 0.00
Price to Revenue (P/Rev)
0.95 1.09 0.99 1.09 1.30 1.44 1.78 1.78 1.90 1.31 1.52
Price to Earnings (P/E)
22.98 29.00 28.99 32.04 54.68 64.49 76.34 82.45 81.61 16.82 19.03
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
4.35% 3.45% 3.45% 3.12% 1.83% 1.55% 1.31% 1.21% 1.23% 5.95% 5.25%
Enterprise Value to Invested Capital (EV/IC)
1.66 1.81 1.75 2.02 2.48 2.76 3.32 3.19 2.87 2.06 2.39
Enterprise Value to Revenue (EV/Rev)
1.11 1.33 1.20 1.28 1.45 1.60 1.95 1.96 2.23 1.64 1.84
Enterprise Value to EBITDA (EV/EBITDA)
11.72 14.45 13.26 14.16 16.56 17.98 21.96 21.69 27.16 9.71 10.47
Enterprise Value to EBIT (EV/EBIT)
16.14 20.17 18.50 19.23 22.69 24.72 30.67 30.79 40.45 11.60 12.46
Enterprise Value to NOPAT (EV/NOPAT)
27.50 32.65 26.60 25.71 34.04 37.60 43.49 46.75 43.05 15.94 18.00
Enterprise Value to Operating Cash Flow (EV/OCF)
15.85 33.09 11.74 16.52 17.75 15.47 20.82 28.44 50.04 83.56 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 36.87 92.58 232.76 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.51 0.65 0.62 0.61 0.58 0.57 0.55 0.54 0.87 1.17 0.79
Long-Term Debt to Equity
0.49 0.64 0.60 0.59 0.53 0.53 0.50 0.50 0.86 1.17 0.78
Financial Leverage
0.23 0.36 0.35 0.38 0.32 0.42 0.40 0.39 0.54 0.54 0.54
Leverage Ratio
2.17 2.36 2.43 2.49 2.43 2.52 2.53 2.57 2.78 2.94 2.72
Compound Leverage Factor
1.84 1.20 1.39 1.40 1.73 1.13 1.57 1.57 1.66 2.64 2.03
Debt to Total Capital
33.76% 39.53% 38.41% 37.82% 36.63% 36.48% 35.30% 35.17% 46.49% 53.94% 44.05%
Short-Term Debt to Total Capital
1.09% 1.05% 1.17% 1.28% 2.80% 2.85% 2.85% 2.79% 0.35% 0.27% 0.34%
Long-Term Debt to Total Capital
32.68% 38.49% 37.24% 36.55% 33.83% 33.64% 32.44% 32.38% 46.14% 53.68% 43.71%
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% 0.00%
Noncontrolling Interests to Total Capital
1.50% 1.47% 1.38% 1.27% 1.29% 1.25% 1.29% 1.22% 0.89% 0.68% 0.90%
Common Equity to Total Capital
64.74% 58.99% 60.22% 60.91% 62.08% 62.27% 63.41% 63.61% 52.61% 45.38% 55.05%
Debt to EBITDA
2.77 3.56 3.35 3.04 2.87 2.72 2.60 2.67 4.79 3.31 2.07
Net Debt to EBITDA
1.61 2.52 2.20 1.99 1.71 1.78 1.86 1.89 3.95 1.88 1.75
Long-Term Debt to EBITDA
2.68 3.46 3.25 2.94 2.65 2.51 2.39 2.46 4.75 3.30 2.06
Debt to NOPAT
6.51 8.04 6.72 5.52 5.89 5.70 5.14 5.75 7.58 5.44 3.57
Net Debt to NOPAT
3.78 5.70 4.42 3.62 3.51 3.72 3.69 4.07 6.26 3.09 3.01
Long-Term Debt to NOPAT
6.30 7.83 6.52 5.34 5.44 5.25 4.73 5.29 7.53 5.42 3.54
Altman Z-Score
1.93 1.82 1.81 1.93 2.29 2.49 2.83 2.63 2.17 1.87 2.08
Noncontrolling Interest Sharing Ratio
1.49% 2.51% 2.29% 2.20% 2.14% 2.19% 2.11% 1.96% 1.85% 1.69% 1.77%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.64 1.61 1.55 1.40 1.39 1.38 1.36 1.30 1.35 1.71 1.34
Quick Ratio
0.88 0.88 0.93 0.79 0.82 0.83 0.79 0.65 0.81 1.07 0.70
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-38 -52 -42 -35 -31 6.30 -4.92 -14 -103 -117 -159
Operating Cash Flow to CapEx
998.29% -478.35% 811.52% 1,890.83% 527.53% 39.28% 161.94% 377.35% 29.82% -345.52% -732.28%
Free Cash Flow to Firm to Interest Expense
-19.83 -21.66 -11.27 -10.62 -7.90 1.85 -1.51 -5.34 -27.86 -18.88 -32.43
Operating Cash Flow to Interest Expense
5.16 -4.99 3.04 9.01 3.87 0.36 2.05 5.71 0.49 -1.88 -1.57
Operating Cash Flow Less CapEx to Interest Expense
4.64 -6.04 2.67 8.54 3.14 -0.55 0.78 4.19 -1.16 -2.43 -1.78
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.92 0.86 0.88 0.93 0.99 0.97 0.96 0.91 0.82 0.79 0.89
Accounts Receivable Turnover
5.35 4.31 4.20 5.02 5.56 4.93 4.47 5.20 4.10 4.52 4.55
Inventory Turnover
13.51 11.69 11.53 11.24 12.33 11.05 10.71 9.53 9.43 8.69 8.65
Fixed Asset Turnover
22.98 22.08 23.01 22.42 23.15 21.64 20.81 19.30 18.58 16.48 17.06
Accounts Payable Turnover
3.74 3.02 2.96 3.62 4.64 3.96 3.63 3.86 3.67 4.19 3.92
Days Sales Outstanding (DSO)
68.26 84.64 86.83 72.78 65.59 74.01 81.64 70.13 89.07 80.72 80.23
Days Inventory Outstanding (DIO)
27.01 31.23 31.66 32.48 29.59 33.05 34.08 38.31 38.70 42.01 42.20
Days Payable Outstanding (DPO)
97.63 121.02 123.37 100.89 78.65 92.20 100.44 94.45 99.56 87.10 93.16
Cash Conversion Cycle (CCC)
-2.35 -5.15 -4.88 4.37 16.54 14.85 15.28 13.99 28.21 35.63 29.28
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
283 325 320 322 319 325 334 340 433 483 505
Invested Capital Turnover
1.62 1.49 1.58 1.69 1.81 1.72 1.73 1.67 1.48 1.51 1.56
Increase / (Decrease) in Invested Capital
45 58 49 42 37 -0.47 13 19 113 158 171
Enterprise Value (EV)
470 590 560 652 793 896 1,107 1,085 1,242 995 1,205
Market Capitalization
400 482 462 555 706 802 1,008 986 1,057 798 998
Book Value per Share
$6.22 $6.30 $6.42 $6.48 $6.68 $6.64 $6.73 $6.90 $7.08 $8.17 $8.46
Tangible Book Value per Share
($0.43) ($1.05) ($0.87) ($1.33) ($1.11) ($1.09) ($0.91) ($1.14) ($3.02) ($3.08) ($3.01)
Total Capital
329 367 369 370 375 372 371 379 471 630 542
Total Debt
111 145 142 140 137 136 131 133 219 340 239
Total Long-Term Debt
108 141 137 135 127 125 120 123 217 338 237
Net Debt
65 103 93 92 82 89 94 94 181 193 202
Capital Expenditures (CapEx)
1.00 2.51 1.41 1.59 2.87 3.12 4.12 4.00 6.13 3.39 1.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)
51 66 59 38 33 39 48 35 50 52 63
Debt-free Net Working Capital (DFNWC)
98 108 107 87 89 86 85 74 88 199 100
Net Working Capital (NWC)
94 104 103 82 78 75 74 63 86 197 98
Net Nonoperating Expense (NNE)
-1.81 2.99 2.91 3.07 1.26 3.74 3.64 1.87 5.16 4.51 2.38
Net Nonoperating Obligations (NNO)
65 103 93 92 82 89 94 94 181 193 202
Total Depreciation and Amortization (D&A)
3.10 2.98 2.86 3.21 3.89 3.63 3.58 3.68 4.13 5.32 5.25
Debt-free, Cash-free Net Working Capital to Revenue
12.06% 14.80% 12.56% 7.58% 6.12% 6.95% 8.42% 6.29% 8.92% 8.61% 9.59%
Debt-free Net Working Capital to Revenue
23.08% 24.34% 22.96% 17.10% 16.30% 15.37% 14.93% 13.32% 15.77% 32.72% 15.21%
Net Working Capital to Revenue
22.23% 23.47% 22.04% 16.17% 14.38% 13.48% 13.06% 11.41% 15.47% 32.44% 14.93%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.23 $0.06 $0.11 $0.10 $0.10 $0.04 $0.13 $0.06 $0.14 $1.03 $0.27
Adjusted Weighted Average Basic Shares Outstanding
34.67M 34.44M 34.62M 34.77M 34.67M 34.85M 34.92M 34.97M 34.93M 35.03M 35.29M
Adjusted Diluted Earnings per Share
$0.23 $0.06 $0.11 $0.09 $0.11 $0.04 $0.12 $0.06 $0.14 $0.98 $0.26
Adjusted Weighted Average Diluted Shares Outstanding
35.01M 35.20M 35.14M 35.30M 35.33M 36.18M 36.30M 36.49M 36.38M 36.69M 36.56M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
34.42M 34.59M 34.77M 34.81M 34.85M 34.94M 34.96M 34.98M 34.99M 35.27M 35.33M
Normalized Net Operating Profit after Tax (NOPAT)
7.33 4.17 7.17 8.17 9.86 6.08 9.60 5.14 12 3.65 13
Normalized NOPAT Margin
6.30% 3.70% 5.55% 5.47% 6.41% 4.81% 6.98% 3.79% 7.63% 2.06% 6.75%
Pre Tax Income Margin
9.19% 2.20% 3.85% 2.88% 6.36% 2.18% 3.87% 3.06% 3.45% 31.16% 7.88%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
6.55 2.03 2.33 2.29 3.49 1.81 2.64 2.56 2.48 9.86 3.98
NOPAT to Interest Expense
3.50 2.27 1.84 2.03 1.43 1.71 2.63 1.66 2.70 6.59 2.55
EBIT Less CapEx to Interest Expense
6.03 0.99 1.95 1.81 2.76 0.90 1.37 1.05 0.82 9.31 3.77
NOPAT Less CapEx to Interest Expense
2.98 1.22 1.47 1.55 0.69 0.79 1.37 0.15 1.05 6.04 2.34
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
7.80% 2.93% 6.54% 8.48% 11.49% 17.49% 14.42% 14.46% 14.62% 3.50% 2.61%
Augmented Payout Ratio
46.24% 2.93% 22.22% 10.94% 11.49% 38.73% 47.61% 50.45% 49.30% 7.60% 2.61%

Key Financial Trends

CECO Environmental's financial performance over the past four years through Q2 2025 shows several important trends and points:

  • Revenue has steadily increased from approximately $105 million in Q2 2022 to $185 million in Q2 2025, indicating solid top-line growth.
  • Gross profit has also grown, from roughly $31.7 million in Q2 2022 to $67.1 million in Q2 2025, suggesting improvements in operational efficiency or pricing power.
  • Net income has generally trended upward, with Q2 2025 net income at about $10.1 million compared to $4.7 million in Q2 2022, showing improved profitability.
  • Operating expenses remain controlled relative to revenue growth, supporting overall margin expansion.
  • Cash equivalents have fluctuated but remain substantial; $36.8 million as of Q2 2025, providing liquidity for operations or investments.
  • CECO has consistently recorded depreciation and amortization expenses reflecting capital investment and intangible asset amortization, typical for their industry.
  • The company's share count is relatively stable, with weighted average diluted shares outstanding around 35 million over recent quarters, limiting dilution concerns.
  • CECO has had significant debt repayment activity, with long-term debt dropping from approximately $141 million in Q1 2023 to about $237 million in Q2 2025, raising questions about capital structure management.
  • Operating cash flow has been negative in recent quarters (e.g., -$7.7 million in Q2 2025), which could indicate short-term liquidity stresses or investment in working capital.
  • Large net cash outflow from financing activities (e.g., -$101.6 million in Q2 2025) suggests heavy debt repayments or share repurchases that could pressure cash reserves.

In summary, CECO Environmental has experienced encouraging revenue and profit growth over the last few years while managing expenses. However, the company faces challenges from increasingly negative operating cash flow and significant debt repayments, which could impact financial flexibility. Investors should watch liquidity trends and debt management as key risk factors while acknowledging solid core earnings improvements.

08/02/25 10:09 AMAI Generated. May Contain Errors.

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 10 years?

CECO Environmental's net income appears to be on an upward trend, with a most recent value of $14.42 million in 2024, rising from $13.08 million in 2014. The previous period was $14.50 million in 2023. See where experts think CECO Environmental is headed by visiting CECO Environmental's forecast page.

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's revenue changed over the last 10 years?

Over the last 10 years, CECO Environmental's total revenue changed from $263.22 million in 2014 to $557.93 million in 2024, a change of 112.0%.

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 119.9% increase since 2014.

How much cash does CECO Environmental have?

In the past 10 years, CECO Environmental's cash and equivalents has ranged from $18.16 million in 2014 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 10 years?

Over the last 10 years, CECO Environmental's book value per share changed from 7.01 in 2014 to 7.08 in 2024, a change of 1.1%.



This page (NASDAQ:CECO) was last updated on 8/2/2025 by MarketBeat.com Staff
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