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IES Holdings
(NASDAQ:IESC)
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Rating:76Outperform
Price Target:
$267.00
▼(-14.76% Downside)
Action:Reiterated
Date:10/07/26
The score is driven primarily by strong financial performance (sharp margin expansion, high profitability, and low leverage), partially tempered by weaker recent cash-flow conversion. Technicals add support with an above-moving-averages uptrend and neutral momentum. Valuation is a moderating factor due to a higher P/E and no dividend yield provided, while recent corporate actions (DBM Global acquisition and financing expansion) are a net positive but carry integration/execution risk.
Positive Factors
Scale and profitability
IES has materially expanded both scale and profitability, with revenue rising from $1.54B in 2021 to $3.99B TTM and margins improving sharply. This stronger earnings base supports internal investment, resilience, and continued participation in larger contracting opportunities.
Negative Factors
Weaker cash conversion
Although cash generation remains positive, the decline in free cash flow and lower operating cash conversion show that reported earnings are not translating fully into cash. Working-capital or reinvestment demands could constrain flexibility and reduce funding available for growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and profitability
IES has materially expanded both scale and profitability, with revenue rising from $1.54B in 2021 to $3.99B TTM and margins improving sharply. This stronger earnings base supports internal investment, resilience, and continued participation in larger contracting opportunities.
Read all positive factors
IES Holdings (IESC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.53B
Dividend YieldN/A
Average Volume (3M)302.48K
Price to Earnings (P/E)20.7
Beta (1Y)1.64
Revenue Growth22.66%
EPS Growth83.09%
CountryUS
Employees10,273
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)11.41
Shares Outstanding40,279,686
10 Day Avg. Volume417,504
30 Day Avg. Volume302,484
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)8.96
Price to Sales (P/S)2.35
P/FCF Ratio36.19
Enterprise Value/Market Cap1.52
Enterprise Value/Revenue3.65
Enterprise Value/Gross Profit14.08
Enterprise Value/Ebitda23.74
Forecast
1Y Price Target
$440.00Price Target Upside40.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)13.46
Revenue Forecast (FY)$5.03B
IES Holdings Business Overview & Revenue Model
Company Description
IES Holdings, Inc. operates across the United States, specializing in the engineering and implementation of integrated electrical and technology systems, alongside providing essential infrastructure products and related services. Its Commercial & ...
How the Company Makes Money
IES primarily makes money by providing project-based contracting services and related installation work under customer contracts across its operating segments. Revenue is largely earned as work is performed on construction, retrofit, and service p...
IES Holdings Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.99B | 3.37B | 2.88B | 2.38B | 2.17B | 1.54B |
| Gross Profit | 1.03B | 859.50M | 696.59M | 444.54M | 318.90M | 288.00M |
| EBITDA | 612.21M | 442.17M | 343.11M | 190.98M | 81.24M | 107.78M |
| Net Income | 456.20M | 305.98M | 219.12M | 108.29M | 34.76M | 66.66M |
Balance Sheet | ||||||
| Total Assets | 2.28B | 1.60B | 1.24B | 981.60M | 934.71M | 766.62M |
| Cash, Cash Equivalents and Short-Term Investments | 387.86M | 231.76M | 135.84M | 75.77M | 24.85M | 23.11M |
| Total Debt | 76.94M | 157.66M | 62.43M | 61.59M | 137.09M | 82.37M |
| Total Liabilities | 1.04B | 707.70M | 591.92M | 481.66M | 544.23M | 396.07M |
| Stockholders Equity | 1.23B | 883.96M | 611.11M | 449.99M | 361.29M | 345.95M |
Cash Flow | ||||||
| Free Cash Flow | 228.40M | 218.84M | 189.25M | 136.24M | -13.00M | 30.50M |
| Operating Cash Flow | 371.42M | 286.10M | 234.40M | 153.90M | 16.30M | 37.90M |
| Investing Cash Flow | -315.13M | -163.69M | -108.85M | 2.77M | -29.50M | -99.60M |
| Financing Cash Flow | -87.46M | -96.07M | -100.50M | -105.75M | 15.00M | 31.20M |
IES Holdings Technical Analysis
Negative
313.23
Price Trends
315.33
Negative
329.48
Negative
295.45
Negative
Market Momentum
-24.31
Positive
19.57
Positive
4.87
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IESC, the sentiment is Negative. The current price of 313.23 is above the 20-day moving average (MA) of 292.39, below the 50-day MA of 315.33, and above the 200-day MA of 295.45, indicating a bearish trend. The MACD of -24.31 indicates Positive momentum. The RSI at 19.57 is Positive, neither overbought nor oversold. The STOCH value of 4.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IESC.
IES Holdings Risk Analysis
IES Holdings disclosed 39 risk factors in its most recent earnings report. IES Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IES Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $30.84B | 21.77 | 38.42% | 0.23% | 18.92% | 33.51% | |
76 Outperform | $9.53B | 20.73 | 44.00% | ― | 22.66% | 83.09% | |
73 Outperform | $49.17B | 34.43 | 55.24% | 0.21% | 46.11% | 108.71% | |
70 Outperform | $89.60B | 68.00 | 14.86% | 0.07% | 26.30% | 34.94% | |
66 Neutral | $4.28B | 25.89 | 24.17% | ― | 16.06% | 121.28% | |
65 Neutral | $15.04B | 28.50 | 15.30% | ― | 23.46% | 86.29% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
IESC
IES Holdings
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IES Holdings Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
IES Holdings Closes DBM Global Acquisition and Expands Credit
Positive
Oct 6, 2026
On October 5, 2026, IES Holdings, Inc. expanded its financing capacity by amending its credit agreement, increasing total borrowing availability to $700 million, split between a $200 million term loan and a $500 million revolving credit facility. ...
Business Operations and StrategyM&A Transactions
IES Holdings to Acquire Majority Stake in DBM Global
Positive
Aug 11, 2026
On August 7, 2026, IES Holdings entered into a definitive agreement to acquire roughly 92% of DBM Global, one of the largest independent structural steel fabrication and erection platforms in the U.S., for a base purchase price of about $650 milli...
Business Operations and StrategyFinancial DisclosuresStock Split
IES Holdings posts robust Q3 results, plans stock split
Positive
Jul 31, 2026
On July 31, 2026, IES Holdings reported strong fiscal third‑quarter results for the period ended June 30, 2026, with revenue up 40% year over year to $1.24 billion and operating income up 60% to $178.5 million. Net income nearly doubled to $...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.