Ameresco, Inc.
- Open
- 27.10
- Day high
- 27.91
- Day low
- 25.95
- Prev close
- 27.60
- Volume
- 239K
- Mkt cap
- $1.4B
- P/E (TTM)
- 45.7
- EPS (TTM)
- $0.59
- P/B
- 1.3
- P/S
- 0.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$852K over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions mixed (13F)
Ameresco, Inc. (AMRC) is a Industrials company listed on NYSE. The stock is up 73% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4).
Ameresco, Inc. (AMRC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AMRC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $-0.27 | $-0.33 | -22.2% | $401M | +10.6% |
| Feb 27, 2025 | $0.76 | $0.88 | +15.8% | $533M | +1.4% |
| Nov 7, 2024 | $0.47 | $0.33 | -29.8% | $501M | -4.8% |
| Feb 28, 2024 | $0.57 | $0.69 | +21.1% | $441M | +10.4% |
| May 1, 2023 | $0.03 | $0.03 | -10.0% | $271M | +16.8% |
| Feb 27, 2023 | $0.39 | $0.35 | -10.3% | $332M | -9.9% |
| Nov 1, 2022 | $0.47 | $0.54 | +14.9% | $441M | +5.4% |
| May 2, 2022 | $0.29 | $0.36 | +24.1% | $474M | +15.2% |
| Feb 28, 2022 | $0.42 | $0.50 | +19.0% | $416M | +0.7% |
| May 4, 2021 | $0.10 | $0.25 | +150.0% | $252M | +21.2% |
| Mar 1, 2021 | $0.29 | $0.47 | +62.1% | $314M | — |
| Nov 2, 2020 | $0.25 | $0.38 | +52.0% | $283M | +52.0% |
AMRC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 5, 2026 | STAVROPOULOS NICKOLASdirector | Option | 10,435 | — |
| Jun 5, 2026 | Sutton Joseph W.director | Option | 10,435 | — |
| Jun 5, 2026 | Miller Jennifer Ldirector | Grant | 4,812 | — |
| Jun 5, 2026 | Patton Charles R.director | Option | 10,435 | — |
| Jun 5, 2026 | Miller Jennifer Ldirector | Option | 10,435 | — |
| Jun 5, 2026 | Johnson Claire D'Oyly-Hughesdirector | Grant | 4,812 | — |
| Jun 5, 2026 | WISNESKI FRANCIS V JRdirector | Grant | 4,812 | — |
| Jun 5, 2026 | WISNESKI FRANCIS V JRdirector | Option | 10,435 | — |
| Jun 5, 2026 | Sutton Joseph W.director | Grant | 4,812 | — |
| Jun 5, 2026 | Johnson Claire D'Oyly-Hughesdirector | Option | 10,435 | — |
| Jun 5, 2026 | STAVROPOULOS NICKOLASdirector | Grant | 4,812 | — |
| Jun 2, 2026 | WISNESKI FRANCIS V JRdirector | Sell | 5,000 | $36.12 |
| Jun 2, 2026 | WISNESKI FRANCIS V JRdirector | Option | 5,000 | $5.80 |
| May 21, 2026 | WISNESKI FRANCIS V JRdirector | Sell | 10,000 | $30.29 |
| May 21, 2026 | WISNESKI FRANCIS V JRdirector | Option | 10,000 | $5.80 |
Source: AMRC SEC Form 4 filings, latest Jun 5, 2026. For informational purposes only — not investment advice.
See the full AMRC insider & 13F page →Ameresco, Inc. company profile
Overview
Ameresco, Inc. (NYSE:AMRC) is a clean technology integrator founded in 2000 and headquartered in Framingham, Massachusetts. The company went public in July 2010 and has evolved into a comprehensive provider of energy efficiency and renewable energy solutions across North America and internationally. Ameresco operates through multiple business segments including U.S. Regions, U.S. Federal, Canada, and Non-Solar Distributed Generation, serving government entities, healthcare and educational institutions, and commercial and industrial customers with integrated energy infrastructure solutions.
Business
Ameresco operates in the clean technology and energy services industry, providing comprehensive energy efficiency and renewable energy solutions. The company's core business revolves around Energy Savings Performance Contracts (ESPCs), which are specialized agreements where Ameresco designs, builds, and finances energy infrastructure improvements for customers, with payments tied to the actual energy savings achieved over time. The company operates four main business segments. The Projects Business represents the largest revenue segment, encompassing the design, engineering, and installation of energy efficiency upgrades and renewable energy systems. This includes heating, ventilation, cooling, and lighting system improvements, as well as solar installations and battery storage projects. The Energy Assets Business involves Ameresco owning and operating renewable energy plants that generate electricity, gas, heat, or cooling from renewable sources, currently operating 731 megawatts of energy assets. The Operations and Maintenance (O&M) Business provides ongoing maintenance services for energy systems, representing a recurring revenue stream with over $1 billion in O&M backlog. The Other Business segment includes consulting services, enterprise energy management, and the sale of photovoltaic solar products. Ameresco's renewable energy portfolio includes solar photovoltaic systems, battery energy storage, wind power, and Renewable Natural Gas (RNG) facilities that convert organic waste into clean fuel. The company also specializes in microgrids and energy resilience solutions, particularly for critical infrastructure like military bases and healthcare facilities. With operations spanning the United States, Canada, United Kingdom, and Continental Europe, Ameresco maintains a diversified geographic footprint that reduces market concentration risk.
Revenue model
Ameresco generates revenue through multiple complementary business models. The primary revenue driver is project-based contracting, where the company earns fees for designing, engineering, and constructing energy infrastructure projects. These projects are typically financed through Energy Savings Performance Contracts, where customers pay Ameresco from the energy cost savings generated by the improvements over contract periods that can span 15-25 years. The company also generates recurring revenue from its energy assets business, where Ameresco owns and operates renewable energy facilities and sells the electricity, heat, or renewable natural gas produced to utilities and end customers. This asset-based model provides predictable cash flows through long-term power purchase agreements. Additionally, the O&M business creates steady recurring revenue through multi-year service contracts for maintaining energy systems. Several factors influence Ameresco's margins and profitability. Interest rate environments significantly impact the company's ability to finance projects and the attractiveness of long-term energy savings contracts to customers. Government policy and incentives, including tax credits from legislation like the Inflation Reduction Act, directly affect project economics and customer demand. Supply chain dynamics and equipment costs, particularly for solar panels, batteries, and transformers, can compress margins if not properly managed through contract protections and strategic procurement. Utility interconnection delays and permitting processes can extend project timelines and impact cash flow timing. The company's federal government exposure, representing approximately 20-30% of revenue, creates sensitivity to budget cycles and policy changes. Renewable energy credit pricing, particularly for RNG projects that depend on Renewable Identification Numbers (RINs), introduces commodity price volatility that the company manages through hedging strategies.
Competitive moat
Ameresco's competitive moat is moderately strong, built primarily on its specialized expertise in energy performance contracting and established relationships with government and institutional customers. The company's ability to provide comprehensive, integrated solutions spanning project development, financing, construction, and long-term operations creates barriers to entry, as competitors typically specialize in only one or two aspects of this value chain. The company's federal contracting capabilities represent a significant moat, as navigating government procurement processes requires specialized knowledge, security clearances, and established relationships that take years to develop. Ameresco's track record of successfully executing large-scale, complex energy projects for federal agencies creates customer stickiness and repeat business opportunities. The long-term nature of ESPCs also provides some competitive protection, as customers are locked into multi-decade relationships with built-in maintenance and performance guarantees. However, Ameresco faces competitive threats from several directions. Large engineering and construction companies like Johnson Controls, Honeywell, and Siemens have similar capabilities and deeper financial resources. Utility-scale renewable developers compete in the energy assets business, often with lower cost of capital. The company's technology solutions are largely based on commercially available equipment rather than proprietary technology, limiting technological differentiation. Regulatory changes could alter the economics of energy performance contracting or reduce government demand for these services. The increasing commoditization of solar and battery storage technologies may compress margins over time, while new entrants with innovative financing models or digital energy management platforms could disrupt traditional approaches to energy efficiency services.
Risks & safety
Ameresco presents moderate financial risk with mixed safety metrics that require careful monitoring. **Liquidity and Solvency:** - Current cash position of $72 million with current ratio of 1.57, indicating adequate short-term liquidity - High debt-to-equity ratio of 1.76 reflects significant leverage from project financing - Negative free cash flow of -$29 million in Q1 2025, though this varies significantly by quarter due to project timing - Total debt levels appear manageable given the asset-backed nature of much of the financing **Valuation Metrics:** - EV/EBITDA of 14.9x appears reasonable for a growing infrastructure company - Price-to-book ratio of 0.63 suggests potential undervaluation - Recent stock price decline from $26+ to $13 indicates market concerns about execution or macro factors **Other Considerations:** - Project backlog of $4.9 billion provides revenue visibility, though conversion timing can be unpredictable - Federal government exposure creates policy risk but also provides stable, creditworthy customer base - Asset-heavy business model requires continuous capital investment, pressuring free cash flow generation
Recent development
Over the past few years, Ameresco has undergone significant strategic evolution and operational expansion. The company implemented a major corporate restructuring in 2024, promoting four executives to President roles and launching the "One Ameresco" program to improve operational efficiency and coordination across business units. Geographic expansion has been a key focus, with the company establishing meaningful operations in Europe, particularly in the United Kingdom, Italy, and Greece. European revenue now represents over 10% of total revenue, highlighted by a transformative 20-year partnership with the City of Bristol, UK, targeting carbon neutrality. The company has also expanded its Canadian operations and continues to explore additional international markets. The energy assets business has seen substantial growth, with Ameresco adding 241 megawatts of operating assets in 2024, bringing the total to 731 megawatts. The company has shifted toward a more selective approach to asset development, focusing on projects that meet internal return hurdles while exploring partnerships and develop-and-sell strategies to optimize capital allocation. Renewable Natural Gas (RNG) has emerged as a significant growth area, with multiple plants in development and new utility contracts that provide more stable, fixed-price revenue compared to volatile RIN-dependent pricing. Recent federal market dynamics have required strategic adaptation, with some project cancellations and pauses related to government transitions and policy uncertainty. However, management has demonstrated resilience by rescoping projects and maintaining strong relationships with federal agencies. The company has also begun exploring opportunities in the data center market, leveraging its expertise in energy efficiency and resilience solutions for this rapidly growing sector.
AMRC company profile · for informational purposes only — not investment advice.
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