Comfort Systems USA Inc (FIX) financial statements: income statement, balance sheet and cash flow
Comfort Systems USA Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Comfort Systems USA Inc reported revenue of $9.1B (+29.5% year on year) and net income of $1.0B (+95.7% year on year).
Income statement
Comfort Systems USA Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
REVENUE
$9.1B
$7.0B
$5.2B
$4.1B
COST OF SERVICES
$6.9B
$5.6B
$4.2B
$3.4B
Gross profit
$2.2B
$1.5B
$990.5M
$741.6M
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
$883.3M
$730.1M
$574.4M
$489.3M
GAIN ON SALE OF ASSETS
($2.0M)
($3.0M)
($2.3M)
($1.6M)
Operating income
$1.3B
$749.4M
$418.4M
$253.8M
Interest income
$21.6M
$11.6M
$3.5M
$46.0K
Interest expense
($9.0M)
($6.6M)
($10.3M)
($13.4M)
Changes in the fair value of contingent earn-out obligations
($33.5M)
($88.1M)
($23.6M)
($4.8M)
Other
($258.0K)
$432.0K
$202.0K
$134.0K
Other income (expense)
($21.1M)
($82.8M)
($30.2M)
($18.0M)
INCOME BEFORE INCOME TAXES
$1.3B
$666.6M
$388.2M
$235.9M
PROVISION FOR INCOME TAXES
$270.9M
$144.1M
$64.8M
($10.1M)
NET INCOME
$1.0B
$522.4M
$323.4M
$245.9M
Basic
$28.93
$14.64
$9.03
$6.84
Diluted
$28.88
$14.60
$9.01
$6.82
Basic
35.3M
35.7M
35.8M
35.9M
Diluted
35.4M
35.8M
35.9M
36.0M
Comfort Systems USA Inc income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
REVENUE
$3.8B
$3.3B
$2.9B
$2.5B
COST OF SERVICES
$2.8B
$2.4B
$2.1B
$1.8B
Gross profit
$934.5M
$844.2M
$754.4M
$607.9M
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
$314.2M
$287.0M
$269.0M
$229.6M
GAIN ON SALE OF ASSETS
($4.3M)
($785.0K)
($302.0K)
($582.0K)
Operating income
$624.6M
$558.0M
$485.7M
$378.9M
Interest income
$16.0M
$11.1M
$8.5M
$6.4M
Interest expense
($1.5M)
($1.4M)
($2.2M)
($3.0M)
Changes in the fair value of contingent earn-out obligations
($4.3M)
($2.0M)
($10.4M)
($12.1M)
Other
$284.0K
$708.0K
$464.0K
$280.0K
Other income (expense)
$10.5M
$8.3M
($3.6M)
($8.4M)
INCOME BEFORE INCOME TAXES
$635.1M
$566.2M
$482.1M
$370.5M
PROVISION FOR INCOME TAXES
$146.0M
$124.6M
$111.8M
$78.8M
NET INCOME
$489.0M
$441.6M
$370.4M
$291.6M
Basic
$13.93
$12.54
$10.52
$8.26
Diluted
$13.91
$12.53
$10.51
$8.25
Basic
35.1M
35.2M
35.2M
35.3M
Diluted
35.2M
35.3M
35.3M
35.4M
Balance sheet
Comfort Systems USA Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$981.9M
$549.9M
$205.2M
$57.2M
Billed accounts receivable, less allowance for credit losses of $19,708 and $15,286, respectively
$2.6B
$1.9B
$1.3B
$1.0B
Unbilled accounts receivable, less allowance for credit losses of $1,508 and $1,475, respectively
$123.2M
$95.8M
$72.8M
$77.0M
Other receivables, less allowance for credit losses of $325 and $553, respectively
$116.2M
$86.2M
$166.3M
$38.4M
Inventories
$84.1M
$59.2M
$65.5M
$35.3M
Prepaid expenses and other
$138.6M
$46.2M
$54.3M
$48.5M
Costs and estimated earnings in excess of billings, less allowance for credit losses of $255 and $271, respectively
$88.8M
$91.7M
$28.1M
$27.2M
Total current assets
$4.1B
$2.8B
$1.9B
$1.3B
PROPERTY AND EQUIPMENT, NET
$388.0M
$277.2M
$208.6M
$143.9M
LEASE RIGHT-OF-USE ASSETS
$322.9M
$229.1M
$205.7M
$130.7M
GOODWILL
$1.0B
$875.3M
$666.8M
$611.8M
IDENTIFIABLE INTANGIBLE ASSETS, NET
$485.2M
$434.4M
$280.4M
$273.9M
DEFERRED TAX ASSETS
$84.1M
$85.4M
$17.7M
$115.7M
OTHER NONCURRENT ASSETS
$24.9M
$19.4M
$15.2M
$13.8M
Total assets
$6.4B
$4.7B
$3.3B
$2.6B
Current maturities of long-term debt
$6.2M
$6.0M
$4.9M
$9.0M
Accounts payable
$696.3M
$654.9M
$420.0M
$337.4M
Accrued compensation and benefits
$291.7M
$228.6M
$169.1M
$127.8M
Billings in excess of costs and estimated earnings and deferred revenue
$2.1B
$1.1B
$909.5M
$461.8M
Accrued self-insurance
$43.0M
$42.3M
$27.8M
$27.6M
Other current liabilities
$236.4M
$501.6M
$189.9M
$120.7M
Total current liabilities
$3.4B
$2.6B
$1.7B
$1.2B
LONG-TERM DEBT
$139.1M
$62.3M
$39.3M
$247.2M
LEASE LIABILITIES
$302.6M
$212.1M
$188.1M
$111.7M
DEFERRED TAX LIABILITIES
$3.9M
$2.2M
$1.1M
—
OTHER LONG-TERM LIABILITIES
$153.0M
$147.0M
$77.9M
$67.8M
Total liabilities
$4.0B
$3.0B
$2.0B
$1.6B
Common stock, $.01 par, 102,969,912 shares authorized, 41,123,365 and 41,123,365 shares issued, respectively
411.0K
411.0K
411.0K
411.0K
Treasury stock, at cost, 5,946,145 and 5,562,453 shares, respectively
-496.0M
-273.8M
-209.8M
-187.2M
Additional paid-in capital
$363.3M
$350.7M
$339.6M
$332.1M
Retained earnings
$2.6B
$1.6B
$1.1B
$854.6M
Total stockholders' equity
$2.4B
$1.7B
$1.3B
$999.9M
Total liabilities and stockholders' equity
$6.4B
$4.7B
$3.3B
$2.6B
Comfort Systems USA Inc balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$2.2B
$1.9B
$1.1B
$860.5M
Billed accounts receivable, less allowance for credit losses of $24,384 and $19,708, respectively
$3.8B
$3.3B
$2.8B
$2.3B
Unbilled accounts receivable, less allowance for credit losses of $2,497 and $1,508, respectively
$184.1M
$136.6M
$137.1M
$145.6M
Other receivables, less allowance for credit losses of $223 and $325, respectively
$129.0M
$122.1M
$108.9M
$85.8M
Inventories
$120.9M
$104.8M
$93.9M
$78.8M
Prepaid expenses and other
$187.6M
$146.7M
$177.6M
$63.2M
Costs and estimated earnings in excess of billings, less allowance for credit losses of $458 and $255, respectively
$159.3M
$144.6M
$128.0M
$163.3M
Total current assets
$6.8B
$5.8B
$4.5B
$3.7B
PROPERTY AND EQUIPMENT, NET
$862.7M
$653.9M
$515.8M
$337.5M
LEASE RIGHT-OF-USE ASSETS
$349.6M
$299.6M
$321.7M
$274.7M
GOODWILL
$1.1B
$1.1B
$1.0B
$928.2M
IDENTIFIABLE INTANGIBLE ASSETS, NET
$548.4M
$534.6M
$464.8M
$431.9M
DEFERRED TAX ASSETS
$85.6M
$80.9M
$83.2M
$77.9M
OTHER NONCURRENT ASSETS
$33.0M
$28.9M
$26.5M
$24.2M
Total assets
$9.8B
$8.5B
$6.9B
$5.8B
Current maturities of long-term debt
$5.7M
$215.0K
$25.0K
$4.7M
Accounts payable
$946.0M
$771.9M
$719.6M
$665.1M
Accrued compensation and benefits
$537.7M
$403.5M
$278.2M
$356.4M
Billings in excess of costs and estimated earnings and deferred revenue
$3.9B
$3.2B
$2.3B
$1.7B
Accrued self-insurance
$41.3M
$40.1M
$37.9M
$42.0M
Other current liabilities
$508.9M
$321.9M
$249.8M
$229.8M
Total current liabilities
$5.9B
$4.8B
$3.6B
$3.0B
LONG-TERM DEBT
$43.8M
$53.8M
$39.1M
$131.3M
LEASE LIABILITIES
$324.9M
$274.0M
$300.0M
$258.1M
DEFERRED TAX LIABILITIES
$3.9M
$3.9M
$3.9M
$2.2M
OTHER LONG-TERM LIABILITIES
$185.9M
$170.1M
$149.6M
$120.6M
Total liabilities
$6.5B
$5.3B
$4.1B
$3.5B
Common stock, $.01 par, 102,969,912 shares authorized, 41,123,365 and 41,123,365 shares issued, respectively
411.0K
411.0K
411.0K
411.0K
Treasury stock, at cost, 6,129,102 and 5,946,145 shares, respectively
-858.7M
-517.5M
-500.4M
-401.1M
Additional paid-in capital
$395.9M
$394.1M
$388.3M
$362.7M
Retained earnings
$3.8B
$3.3B
$2.9B
$2.3B
Total stockholders' equity
$3.3B
$3.2B
$2.8B
$2.2B
Total liabilities and stockholders' equity
$9.8B
$8.5B
$6.9B
$5.8B
Cash flow statement
Comfort Systems USA Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$1.0B
$522.4M
$323.4M
$245.9M
Amortization of identifiable intangible assets
$79.6M
$97.3M
$43.4M
$47.8M
Depreciation expense
$62.4M
$48.2M
$38.2M
$33.6M
Change in right-of-use assets
$33.8M
$30.9M
$26.0M
$21.6M
Bad debt expense
$6.6M
$7.0M
$4.9M
$2.7M
Deferred tax provision (benefit)
($5.3M)
($66.6M)
$95.3M
($94.5M)
Amortization of debt financing costs
$1.0M
$687.0K
$685.0K
$786.0K
Gain on sale of assets
($2.0M)
($3.0M)
($2.3M)
($1.6M)
Changes in the fair value of contingent earn-out obligations
$33.5M
$88.1M
$23.6M
$4.8M
Stock-based compensation
$21.8M
$16.6M
$12.9M
$10.5M
Receivables, net
($594.3M)
($333.2M)
($381.6M)
($223.2M)
Inventories
($24.4M)
$6.5M
($29.7M)
($13.5M)
Prepaid expenses and other current assets
($91.4M)
($7.9M)
($11.1M)
($26.2M)
Costs and estimated earnings in excess of billings and unbilled accounts receivable
($19.9M)
($82.1M)
$7.3M
($9.6M)
Other noncurrent assets
($386.0K)
($2.2M)
($152.0K)
($995.0K)
Accounts payable and other current liabilities
($276.1M)
$502.9M
$136.5M
$165.9M
Billings in excess of costs and estimated earnings and deferred revenue
$910.1M
$32.2M
$349.2M
$153.2M
Other long-term liabilities
$28.7M
($8.8M)
$3.0M
($15.6M)
Net cash provided by operating activities
$1.2B
$849.1M
$639.6M
$301.5M
Purchases of property and equipment
($154.9M)
($111.1M)
($94.8M)
($48.4M)
Proceeds from sales of property and equipment
$3.7M
$5.5M
$6.0M
$2.9M
Cash paid for acquisitions, net of cash acquired
($279.6M)
($235.5M)
($102.3M)
($49.2M)
Payments for investments
($64.2M)
($2.5M)
($1.9M)
($2.5M)
Proceeds from investments
$27.7M
—
—
—
Net cash used in investing activities
($467.3M)
($343.5M)
($193.0M)
($97.2M)
Proceeds from revolving credit facility
$200.0M
$182.0M
$285.0M
$555.0M
Payments on revolving credit facility
($100.0M)
($182.0M)
($500.0M)
($560.0M)
Payments on other debt
($43.1M)
($26.6M)
($12.0M)
($12.3M)
Debt financing costs
($3.7M)
—
—
($2.3M)
Payments of dividends to stockholders
($68.8M)
($42.8M)
($30.4M)
($20.1M)
Share repurchases
($216.0M)
($57.9M)
($21.2M)
($38.2M)
Shares received in lieu of tax withholding
-10.0M
-8.9M
-4.7M
-3.2M
Proceeds from exercise of options
$793.0K
$184.0K
$18.0K
$1.1M
Payments for contingent consideration arrangements
($46.3M)
($25.4M)
($15.3M)
($5.0M)
Net cash used in financing activities
($287.1M)
($160.8M)
($298.6M)
($205.9M)
NET INCREASE IN CASH AND CASH EQUIVALENTS
$432.0M
$344.8M
$147.9M
($1.6M)
CASH AND CASH EQUIVALENTS, beginning of period
$549.9M
$205.2M
$57.2M
$58.8M
CASH AND CASH EQUIVALENTS, end of period
$981.9M
$549.9M
$205.2M
$57.2M
Comfort Systems USA Inc cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$1.3B
$812.0M
$370.4M
$691.8M
Amortization of identifiable intangible assets
$69.4M
$43.7M
$20.4M
$59.4M
Depreciation expense
$60.5M
$38.6M
$18.6M
$44.9M
Change in right-of-use assets
$40.2M
$23.7M
$12.7M
$22.5M
Bad debt expense (benefit)
$6.3M
$4.3M
$838.0K
$5.6M
Deferred tax provision (benefit)
($1.5M)
$3.2M
$956.0K
$7.5M
Amortization of debt financing costs
$696.0K
$464.0K
$232.0K
$786.0K
Loss (gain) on sale of assets
($5.3M)
($1.1M)
($302.0K)
($1.6M)
Changes in the fair value of contingent earn-out obligations
$16.7M
$12.4M
$10.4M
$19.9M
Stock-based compensation
$31.2M
$28.6M
$19.4M
$15.7M
Receivables, net
($1.2B)
($633.1M)
($214.7M)
($378.6M)
Inventories
($36.2M)
($20.7M)
($9.9M)
($19.5M)
Prepaid expenses and other current assets
($32.7M)
($3.0K)
($15.7M)
($13.2M)
Costs and estimated earnings in excess of billings and unbilled accounts receivable
($108.0M)
($49.6M)
($52.6M)
($119.6M)
Other noncurrent assets
($5.2M)
($3.1M)
($597.0K)
($567.0K)
Accounts payable and other current liabilities
$681.4M
$215.5M
$4.9M
($194.7M)
Billings in excess of costs and estimated earnings and deferred revenue
$1.7B
$1.1B
$225.0M
$564.7M
Other long-term liabilities
($5.9M)
($8.0M)
($1.1M)
$12.7M
Net cash provided by (used in) operating activities
$2.5B
$1.5B
$388.8M
$717.8M
Purchases of property and equipment
($499.4M)
($288.8M)
($147.5M)
($88.8M)
Proceeds from sales of property and equipment
$8.2M
$2.1M
$874.0K
$3.2M
Cash paid for acquisitions, net of cash acquired
($262.9M)
($162.8M)
($6.1M)
($128.6M)
Payments for investments
($133.8M)
($66.1M)
($45.1M)
($29.0M)
Proceeds from investments
$99.3M
$48.2M
$13.8M
$7.3M
Net cash used in investing activities
($788.6M)
($467.5M)
($184.0M)
($236.0M)
Payments on revolving credit facility
($100.0M)
($100.0M)
($100.0M)
($100.0M)
Payments on other debt
($25.5M)
($10.1M)
($6.1M)
($43.0M)
Payments of dividends to stockholders
($84.4M)
($52.8M)
($24.6M)
($47.7M)
Share repurchases
($346.1M)
($8.2M)
($2.5M)
($124.4M)
Shares received in lieu of tax withholding
-17.1M
-16.7M
-3.1M
-6.9M
Proceeds from exercise of options
$383.0K
$383.0K
$383.0K
$793.0K
Deferred acquisition payments
($450.0K)
—
—
—
Payments for contingent consideration arrangements
($501.0K)
($501.0K)
($501.0K)
($46.3M)
Net cash used in financing activities
($573.7M)
($187.9M)
($136.6M)
($171.2M)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS