Business 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 & Industrial division offers electrical and mechanical design, construction, and ongoing maintenance support for a diverse range of facilities. These include corporate offices, manufacturing plants, data processing centers, chemical and refining operations, renewable energy sites such as wind and solar farms, municipal infrastructure projects, and healthcare institutions. The Communications segment focuses on designing, installing, and servicing network infrastructure. This work primarily supports data centers catering to co-location and managed hosting clients, in addition to corporate, educational, financial, hospitality, and healthcare buildings, e-commerce fulfillment centers, and advanced manufacturing facilities. Furthermore, this segment provides design and installation expertise for audiovisual, telecommunications, fire suppression, wireless access, and security alarm systems, while also engaging in the development, deployment, and upkeep of data network systems. Within its Infrastructure Solutions unit, the company undertakes the repair and maintenance of both alternating and direct current electric motors and generators, as well as power generation and distribution equipment. It also manufactures bespoke metal-enclosed bus duct solutions for power distribution, custom generator enclosures for commercial and industrial uses, and produces, refurbishes, and repairs industrial lifting magnets. Additionally, this segment services and repairs primary and auxiliary generators, main alternators, and traction motors used in railway systems. The Residential segment is responsible for electrical installations in both single-family homes and multi-unit apartment complexes. It also provides cable television installations for residential and light commercial customers, and installs solar power systems for both new construction and existing residences. Established in 1997 and headquartered in Houston, Texas, the company rebranded from Integrated Electrical Services, Inc. to IES Holdings, Inc. in May 2016.
Business History
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): 15.22
Total Equity: $883.96M
Shares: 20,182,797
Total Debt: $92.29M
Cash: $127.17M
EBITDA: $442.17M
Total Debt: $92.29M
Cash: $127.17M
Revenue: $3.37B
Revenue: $3.37B
Revenue: $3.37B
Total Equity: $883.96M
Tax Rate: 23.7%
Equity: $883.96M
Total Debt: $92.29M
Cash: $127.17M
Current Liabilities: $633.43M
Long-Term Debt: $61.97M
Total Debt: $92.29M
Total Equity: $883.96M
Shares: 20,182,797
Shares: 20,182,797
CapEx: -$67.25M
Shares: 20,182,797
Stock Price: $714.90
Net Income: $305.98M
Industry Benchmarks
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
Income Statement (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $2.2B | $2.4B | $2.9B | $3.4B |
| Cost of Revenue | $1.2B | $1.8B | $1.9B | $2.2B | $2.5B |
| Gross Profit | $288.0M | $318.9M | $444.5M | $696.6M | $859.5M |
| Operating Expenses | $202.3M | $262.7M | $284.8M | $395.7M | $475.0M |
| Operating Income | $85.6M | $56.0M | $159.8M | $300.9M | $383.5M |
| Net Income | $66.7M | $34.8M | $108.3M | $219.1M | $306.0M |
| EBITDA | $107.8M | $81.2M | $191.0M | $343.1M | $442.2M |
| EPS | $3.21 | $1.45 | $4.58 | $10.02 | $15.22 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $23.1M | $24.8M | $75.8M | $100.8M | $127.2M |
| Total Current Assets | $484.2M | $624.4M | $671.3M | $871.7M | $1.1B |
| Total Assets | $766.6M | $934.7M | $981.6M | $1.2B | $1.6B |
| Current Liabilities | $311.6M | $401.9M | $400.6M | $522.6M | $633.4M |
| Long-Term Debt | $39.7M | $81.6M | $0 | $0 | $62.0M |
| Total Liabilities | $396.1M | $544.2M | $481.7M | $591.9M | $707.7M |
| Total Equity | $346.0M | $361.3M | $450.0M | $611.1M | $884.0M |
| Retained Earnings | $173.1M | $203.2M | $295.8M | $497.8M | $800.8M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $37.9M | $16.3M | $153.9M | $234.4M | $286.1M |
| Capital Expenditure | -$7.4M | -$29.3M | -$17.7M | -$45.2M | -$67.3M |
| Free Cash Flow | $30.5M | -$13.0M | $136.2M | $189.2M | $218.8M |
| Acquisitions (net) | -$92.5M | $219,000 | $20.6M | -$67.0M | -$52.4M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$7.0M | -$18.6M | -$8.3M | -$44.0M | -$41.6M |
| Net Change in Cash | -$30.5M | $1.7M | $50.9M | $25.1M | $26.3M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:57pm (9h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$4.0B $4.0B – $4.0B
|
$4.7B $4.7B – $4.7B
|
$5.4B $5.4B – $5.4B
|
$5.4B $5.4B – $5.4B
|
| EBITDA |
$896.8M $896.8M – $896.8M
|
$1.1B $1.1B – $1.1B
|
$1.2B $1.2B – $1.2B
|
$1.2B $1.2B – $1.2B
|
| Net Income |
$397.4M $397.4M – $397.4M
|
$448.1M $448.1M – $448.1M
|
$517.1M $517.1M – $517.1M
|
$600.4M $600.4M – $600.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +41.0% | +9.7% | +21.3% | +16.9% |
| Gross Profit Growth | +10.7% | +39.4% | +56.7% | +23.4% |
| Operating Income Growth | -34.6% | +185.3% | +88.3% | +27.5% |
| Net Income Growth | -47.9% | +211.5% | +102.3% | +39.6% |
| EBITDA Growth | -24.6% | +135.1% | +79.7% | +28.9% |
Narrative Economics
market-narrative step).