AMRC - Ameresco, Inc.

📈 Is growth accelerating? 7 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	28.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+475%)	-24.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-593%)	50.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+901%)	17.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+255%)	19.1% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+281%)	10.1% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+103%)	9.8% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+95%)	10.1% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+102%)	3.2% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-35%)	6.3% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+27%)	3.3% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-34%)	-9.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-281%)	-13.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-366%)	17.8% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+256%)	44.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+785%)	—	—
EPS Growth YoY (%)	-10.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-34.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	32.6% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	22.1% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	18.9% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	14.5% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	1.2% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	215.4% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	1200.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-90.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	340.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-87.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-47.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-27.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-46.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-9.1% Weak ↓ Weak Declining Year-over-year change in net income	-34.2% Weak ↓ Weak Declining Year-over-year change in net income	34.7% Excellent ↑ Excellent Improving Year-over-year change in net income	30.4% Excellent ↑ Excellent Improving Year-over-year change in net income	21.6% Good ↓ Good Declining Year-over-year change in net income	17.0% Good ↓ Good Declining Year-over-year change in net income	1.3% Caution Caution Year-over-year change in net income	212.5% Excellent Excellent Year-over-year change in net income	N/M	N/M	330.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-86.9% Weak ↓ Weak Declining Year-over-year change in net income	-45.1% Weak ↓ Weak Declining Year-over-year change in net income	21.4% Good Good Year-over-year change in net income	38.2% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	78.1% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-90.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	-58.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	49.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-248.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	58.9% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-131.9% Weak ↑ Weak Improving Year-over-year change in free cash flow	-19.9% Weak ↑ Weak Improving Year-over-year change in free cash flow	-11460.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	99.3% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	N/M	194.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-11.6% Weak Weak Year-over-year change in free cash flow	-83.7% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	13.3% Good ↓ Good Declining Compound annual revenue growth over 3 years	10.0% Good ↓ Good Declining Compound annual revenue growth over 3 years	28.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	15.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	12.9% Good ↑ Good Improving Compound annual revenue growth over 3 years	10.0% Good ↑ Good Improving Compound annual revenue growth over 3 years	7.7% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	6.5% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	4.3% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-0.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-6.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-2.4% Weak Weak Compound annual revenue growth over 3 years	13.8% Good Good Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	15.3% Excellent → Excellent Stable Compound annual revenue growth over 5 years	11.8% Good ↓ Good Declining Compound annual revenue growth over 5 years	20.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	13.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	10.4% Good ↑ Good Improving Compound annual revenue growth over 5 years	7.9% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	6.5% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	2.6% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	-2.2% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.4% Weak Weak Compound annual revenue growth over 5 years	6.7% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-7.8% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	2.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	24.4% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	18.5% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	11.3% Good ↓ Good Declining Compound annual EPS growth over 3 years	54.0% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	246.2% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	55.0% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	73.2% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-63.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-34.4% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	-64.0% Weak Weak Compound annual EPS growth over 3 years	-40.9% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	6.1% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	6.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	7.3% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	7.9% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	6.9% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	6.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	7.5% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	5.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	3.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-70%)	1.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-91%)	2.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-82%)	1.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-90%)	4.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	7.0% Caution → Caution Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	7.4% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-38%)	5.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-51%)	—
Effective Tax Rate (%) (%)	-58.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-67.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.8% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	3.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	4.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-43%)	5.2% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	5.8% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-28%)	5.2% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	5.1% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-36%)	4.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	5.2% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	1.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-77%)	-0.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-109%)	1.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-78%)	0.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-95%)	2.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	4.6% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-43%)	4.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	4.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	—
FCF Margin (%) (%)	6.4% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-5.5% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-18.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-14.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-10.2% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-23.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-7.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-19.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-9.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-8.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-0.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-11.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	13.1% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	3.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.9% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	10.2% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	2.00x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-1.21x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-3.62x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-2.51x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-1.94x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-4.57x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.50x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-3.69x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-5.07x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	10.86x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.04x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-26.07x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	4.49x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.80x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	2.19x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	17.1% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	15.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	15.0% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	10.7% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	11.5% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	5.3% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	7.4% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	14.3% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	11.4% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	4.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	2.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	4.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	10.6% Good Good Return earned on debt + equity capital invested Optimal: > 10%	19.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—	—	—
Return on Capital (%) (%)	2.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	2.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.6% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	4.3% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	4.1% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	3.8% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	5.1% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	3.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	3.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	2.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.9% Fair Fair Operating profit relative to total assets Optimal: > 10%	7.9% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	5.6% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	6.9% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-54%)	11.5% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-23%)	10.0% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-33%)	11.0% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-27%)	10.4% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-31%)	10.1% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-33%)	—	—	—	3.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-76%)	—	—	—	—	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	—	—	—	—	—	0.80x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+14%)	0.67x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	—	—	—	0.36x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-49%)	—	—	—	—	—	—
Interest Coverage (x)	0.99x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.02x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	7.48x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	6.54x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.36x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	4.09x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	3.85x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	4.03x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	3.35x Fair Fair Operating income divided by interest expense Optimal: > 5x	1.34x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	7.89x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	12.05x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	9.30x Good Good Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-108.52M	$-79.27M	$-115.53M	$-50.45M	$-66.42M	$309.87M	$192.48M	$177.91M	$144.81M	$97.58M	$78.53M	$99.03M	$151.03M	$181.69M	$-44.69M	$-47.93M	$-18.15M
Debt / EBITDA (x)	—	—	—	—	—	3.84x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.88x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.34x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.55x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.17x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.32x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	11.97x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.47x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.21x Caution Caution Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$33.79	$26.36	$35.19	$23.91	$21.64	$18.61	$17.21	$15.76	$14.03	$13.57	$12.85	$12.60	$14.14	$17.10	$24.03	$42.89	—
Basic EPS, GAAP (USD)	$1.08	$1.20	$1.83	$1.38	$1.13	$0.95	$0.83	$0.82	$0.26	$0.02	$0.22	$0.05	$0.41	$0.78	$1.07	$1.99	—
Free Cash Flow per Share (USD)	$2.16	$-1.45	$-6.63	$-3.48	$-2.20	$-4.36	$-1.25	$-3.04	$-1.31	$-1.09	$-0.01	$-1.38	$1.85	$0.63	$0.71	$4.35	—
Book Value per Share (USD)	$19.34	$17.30	$15.90	$13.85	$10.33	$9.21	$8.24	—	—	—	$6.20	—	—	—	—	—	—
Tangible Book Value per Share (USD)	$17.91	$15.72	$14.44	$12.31	$9.08	$7.92	$6.92	—	—	—	$4.65	—	—	—	—	—	—
Basic Weighted Avg Shares (shares)	52.38M	52.14M	51.84M	50.85M	47.70M	46.59M	45.73M	45.51M	46.41M	46.49M	46.16M	45.56M	44.65M	42.59M	25.73M	9.99M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$412.13M	$227.00M	$189.28M	$164.36M	$107.62M	$88.55M	$88.34M	$84.94M	$35.46M	$83.97M	$72.86M	$113.72M	$148.95M	$134.79M	—	—	—
LT Debt (USD)	—	—	—	—	—	$343.09M	$253.87M	$202.17M	$165.41M	$119.22M	$102.29M	$116.20M	$214.37M	$207.97M	—	—	—
Total Equity (USD)	$1.01B	$901.98M	$824.03M	$704.26M	$492.81M	$428.86M	$376.88M	—	—	—	$286.31M	—	—	—	—	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$1.77B	$1.37B	$1.82B	$1.22B	$1.03B	$866.93M	$787.14M	$717.15M	$651.23M	$630.83M	$593.24M	$574.17M	$631.17M	$728.20M	$618.23M	$428.52M	—
Depreciation Expense (USD)	$89.21M	$65.91M	$52.43M	$44.76M	$40.14M	$37.71M	$29.15M	$23.91M	$22.80M	$21.52M	$3.04M	$3.08M	$19.34M	$14.01M	$11.42M	—	—
Net Income, GAAP (USD)	$56.76M	$62.47M	$94.93M	$70.46M	$54.05M	$44.44M	$37.98M	$37.49M	$12.00M	$-4.68M	$10.38M	$2.41M	$18.36M	$33.41M	$27.51M	$19.91M	—
Operating Cash Flow (USD)	$117.60M	$-69.99M	$-338.29M	$-172.30M	$-102.58M	$-196.29M	$-53.20M	$-135.57M	$-58.07M	$-49.54M	$1.31M	$-60.61M	$87.53M	$30.15M	$20.85M	$45.30M	—

Ameresco, Inc.

Analytical Summary

17-Year Financial Trajectory

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