Ies Holdings IncIes Holdings Inc
Ies Holdings Inc

Ies Holdings Inc

IESC
Industrials·Construction & Engineering

IES Holdings, Inc. engages in the business of designing and installing integrated electrical and technology systems. It operates through the following segments: Communications, Residential, Infrastructure Solutions, and Commercial and Industrial. The Communications segment provides technology infrastructure services such as designing, building, and maintaining communications infrastructure within data centers for co-location and managed hosting customers. The Residential segment offers electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation, and air conditioning and plumbing installation services in certain markets. The Infrastructure Solutions segment includes electro-mechanical solutions for industrial operations including apparatus repair and custom-engineered products such as generator enclosures used in data centers and other industrial applications. The Commercial and Industrial segment is involved in electrical and mechanical design, construction, and maintenance services to the commercial and industrial markets in various regional markets and nationwide in certain areas of expertise such as the power infrastructure market and data centers. The company was founded in 1997 and is headquartered in Houston, TX.

Texas; U.S.A
Market cap
No dataNo data
Revenue
$3.4B+41.8% YoY
Net income
$306M+182.6% YoY
Free cash flow
$218.8M+60.6% YoY

Market

Listed stock
IESCPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$3.4B+41.8% YoY
Operating income
$383.5M+140.0% YoY
Net income
$306M+182.6% YoY
Free cash flow
$218.8M+60.6% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.5B, 2022 $2.2B, 2023 $2.4B, 2024 $2.9B, 2025 $3.4B. Operating income: 2021 $85.6M, 2022 $56M, 2023 $159.8M, 2024 $300.9M, 2025 $383.5M. Net income: 2021 $66.7M, 2022 $34.8M, 2023 $108.3M, 2024 $219.1M, 2025 $306M. Free cash flow: 2021 $30.5M, 2022 $-13M, 2023 $136.2M, 2024 $189.2M, 2025 $218.8M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
41.8%+3211 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-09-30 $85.6M, 2022-09-30 $56M, 2023-09-30 $159.8M, 2024-09-30 $300.9M, 2025-09-30 $383.5M. Net income: 2021-09-30 $66.7M, 2022-09-30 $34.8M, 2023-09-30 $108.3M, 2024-09-30 $219.1M, 2025-09-30 $306M. Free cash flow: 2021-09-30 $30.5M, 2022-09-30 $-13M, 2023-09-30 $136.2M, 2024-09-30 $189.2M, 2025-09-30 $218.8M

Growth heatmap

2022202320242025CAGR
Revenue
+41.0%
+9.7%
+21.3%
+16.9%
+21.7%
Gross profit
+10.7%
+39.4%
+56.7%
+23.4%
+31.4%
Operating income
-34.6%
+185.3%
+88.3%
+27.5%
+45.5%
Free cash flow
-142.6%
+1148.5%
+38.9%
+15.6%
+63.6%

Earnings quality

Operating cash flow
$286.1M+85.9% YoY
Net income
$306M+182.6% YoY
Free cash flow
$218.8M+60.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-09-30 94%, 2024-09-30 107%, 2023-09-30 142%, 2022-09-30 47%, 2021-09-30 57%. Free cash flow: 2025-09-30 72%, 2024-09-30 86%, 2023-09-30 126%, 2022-09-30 -37%, 2021-09-30 46%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data