Industrials · Industrial - Pollution & Treatment Controls
Price
$91.87
Market Cap
$3.3B
Employees
1,540
Beta
1.50
Avg Volume
809,727
CEO
Todd R. Gleason
Business Description
CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions in the United States, the United Kingdom, the Netherlands, China, and internationally. It operates through Engineered Systems and Industrial Process Solutions segments. The company offers emissions management, fluid bed cyclones, thermal acoustics, and separation and filtration solutions; engineering services and environmental systems; and industrial exhaust air contamination treatment and control systems, solutions, and services, as well as intelligent control solutions. It also provides engineered and configured products and solutions, including dampers and diverters, expansion joints, selective catalytic reduction systems, severe-service and industrial cyclones, dust collectors, thermal oxidizers, filtration systems, wet and dry scrubbers, separators and coalescers, water treatment packages, metallic and non-metallic pumps, industrial silencers, and fluid handling equipment, as well as plant engineering services and engineered design build fabrication services. In addition, the company offers solutions for air pollution and contamination control, fluid handling, and process filtration in various applications, such as aluminum beverage can production, automobile production, food and beverage processing, semiconductor fabrication, electronics production, steel and aluminum mill processing, wood manufacturing, desalination, and aquaculture markets. It markets its power generation, hydrocarbon processing, water/wastewater treatment, oily water separation and treatment, marine and naval vessels, and midstream oil and gas sectors. CECO Environmental Corp. was founded in 1869 and is headquartered in Addison, Texas.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
64.70
Stock Price: $91.87
EPS (Diluted): 1.42
EPS (Diluted): 1.42
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
6.66
Stock Price: $91.87
Total Equity: $317.53M
Shares: 36,603,956
Total Equity: $317.53M
Shares: 36,603,956
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
16.37
Market Cap: $3.30B
Total Debt: $24.84M
Cash: $33.14M
EBITDA: $128.64M
Total Debt: $24.84M
Cash: $33.14M
EBITDA: $128.64M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$2.1B
Market Cap: $3.30B
Total Debt: $24.84M
Cash: $33.14M
Total Debt: $24.84M
Cash: $33.14M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
32.7%
Gross Profit: $253.06M
Revenue: $774.38M
Revenue: $774.38M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
6.7%
Operating Income: $51.71M
Revenue: $774.38M
Revenue: $774.38M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
6.5%
Net Income: $50.05M
Revenue: $774.38M
Revenue: $774.38M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
15.8%
Net Income: $50.05M
Total Equity: $317.53M
Total Equity: $317.53M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
10.7%
Operating Income: $51.71M
Tax Rate: 35.9%
Equity: $317.53M
Total Debt: $24.84M
Cash: $33.14M
Tax Rate: 35.9%
Equity: $317.53M
Total Debt: $24.84M
Cash: $33.14M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.34
Current Assets: $410.18M
Current Liabilities: $305.83M
Current Liabilities: $305.83M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.08
Short-Term Debt: $1.88M
Long-Term Debt: $22.96M
Total Debt: $24.84M
Total Equity: $317.53M
Long-Term Debt: $22.96M
Total Debt: $24.84M
Total Equity: $317.53M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$21.16
Revenue: $774.38M
Shares: 36,603,956
Shares: 36,603,956
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$8.67
Total Equity: $317.53M
Shares: 36,603,956
Shares: 36,603,956
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.15
Operating CF: $5.86M
CapEx: -$11.34M
Shares: 36,603,956
CapEx: -$11.34M
Shares: 36,603,956
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $91.87
Stock Price: $91.87
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $50.05M
Net Income: $50.05M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CECO against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 26, 2026 1:09am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $324.1M | $422.6M | $544.8M | $557.9M | $774.4M |
| Cost of Revenue | $223.2M | $294.4M | $373.8M | $361.8M | $521.3M |
| Gross Profit | $100.9M | $128.2M | $171.0M | $196.1M | $253.1M |
| Operating Expenses | $91.1M | $106.1M | $136.4M | $160.7M | $201.3M |
| Operating Income | $9.9M | $22.2M | $34.6M | $35.4M | $51.7M |
| Net Income | $1.4M | $17.4M | $12.9M | $13.0M | $50.1M |
| EBITDA | $21.9M | $38.3M | $47.4M | $45.2M | $128.6M |
| EPS | $0.04 | $0.50 | $0.37 | $0.37 | $1.42 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 26, 2026 1:09am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $29.9M | $45.5M | $54.8M | $37.8M | $33.1M |
| Total Current Assets | $189.0M | $240.7M | $281.4M | $331.0M | $410.2M |
| Total Assets | $416.2M | $504.7M | $600.3M | $759.7M | $893.8M |
| Current Liabilities | $116.7M | $146.7M | $203.1M | $244.7M | $305.8M |
| Long-Term Debt | $61.6M | $107.6M | $126.8M | $217.2M | $23.0M |
| Total Liabilities | $210.2M | $286.6M | $362.8M | $507.8M | $570.6M |
| Total Equity | $204.6M | $213.2M | $232.6M | $247.7M | $317.5M |
| Retained Earnings | -$36.7M | -$19.3M | -$6.4M | $6.6M | $56.6M |
Cash Flow (Annual)
Last updated: Jun 26, 2026 1:09am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $13.3M | $29.6M | $44.6M | $24.8M | $5.9M |
| Capital Expenditure | -$2.6M | -$3.4M | -$8.4M | -$17.4M | -$11.3M |
| Free Cash Flow | $10.7M | $26.3M | $36.3M | $7.5M | -$5.5M |
| Acquisitions (net) | $533,000 | -$44.9M | -$48.1M | -$87.9M | -$97.6M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$5.0M | -$7.0M | $0 | -$5.0M | $0 |
| Net Change in Cash | -$5.8M | $14.6M | $8.9M | -$17.2M | -$5.0M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 1:44am (7h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$765.1M $759.6M – $769.9M
|
$1.3B $1.3B – $1.3B
|
$1.7B $1.7B – $1.8B
|
$1.9B $1.9B – $2.0B
|
| EBITDA |
$191.5M $190.2M – $192.7M
|
$324.2M $320.4M – $327.8M
|
$434.7M $429.7M – $439.5M
|
$483.1M $477.5M – $488.5M
|
| Net Income |
$36.8M $34.6M – $38.9M
|
$66.6M $65.6M – $67.6M
|
$92.2M $90.9M – $93.6M
|
$129.9M $125.3M – $134.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 26, 2026 1:09am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +30.4% | +28.9% | +2.4% | +38.8% |
| Gross Profit Growth | +27.1% | +33.4% | +14.7% | +29.0% |
| Operating Income Growth | +124.8% | +56.0% | +2.4% | +46.1% |
| Net Income Growth | +1,121.4% | -25.9% | +0.4% | +286.3% |
| EBITDA Growth | +75.1% | +23.8% | -4.7% | +184.4% |
Dividend History (Last 20)
Last updated: Jun 26, 2026 1:09am (1d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2017-09-14 | $0.08 | 2017-09-29 | ||
| 2017-06-14 | $0.08 | |||
| 2017-03-15 | $0.08 | |||
| 2016-12-14 | $0.07 | |||
| 2016-09-14 | $0.07 | |||
| 2016-06-15 | $0.07 | |||
| 2016-03-16 | $0.07 | |||
| 2015-12-14 | $0.07 | |||
| 2015-09-16 | $0.07 | |||
| 2015-06-10 | $0.07 | |||
| 2015-03-17 | $0.07 | |||
| 2014-12-17 | $0.06 | |||
| 2014-09-12 | $0.06 | |||
| 2014-06-11 | $0.06 | |||
| 2014-03-17 | $0.05 | |||
| 2013-12-13 | $0.05 | |||
| 2013-09-12 | $0.05 | |||
| 2013-06-12 | $0.05 | |||
| 2013-03-14 | $0.05 | |||
| 2012-12-12 | $0.05 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CECO — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30