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Screener / SEC EDGAR /CIK 0001035983 /10-K filed Feb 19, 2026, compared with Feb 20, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
NSCVRTFIXEXPDWABJBHT
NYSE Industrials · Electrical Contractors

Comfort Systems USA FIX

FIX quote by TradingView

Comfort Systems USA, Inc., a Delaware corporation, was established in 1997. 10-K, Item 1

Employees
22,700
Headquarters
Houston, TX
CEO
Brian E. Lane
Next results
around Feb 18, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $9.1B through the costs to a net profit of $1.0B · income statement of the 10-K

14% operating margin
Revenue to Gross profit: $2.2BRevenue to Cost of revenue: $6.9BGross profit to Operating profit: $1.3BGross profit to Operating expenses: $881.3MOperating profit to Net profit: $1.0BOperating profit to Tax & other: $292.0M Revenue: $9.1B REVENUE $9.1B +30% Y/Y Gross profit: $2.2B · 24% margin GROSS PROFIT $2.2B 24% margin · +49% Y/Y Cost of revenue: $6.9B · 76% of revenue COST OF REVENUE $6.9B 76% of revenue Operating profit: $1.3B · 14% margin OPERATING PROFIT $1.3B 14% margin · +75% Y/Y Operating expenses: $881.3M · 10% of revenue OPERATING EXPENSES $881.3M 10% of revenue Net profit: $1.0B · 11% margin NET PROFIT $1.0B 11% margin · +96% Y/Y Tax & other: $292.0M · 3% of revenue TAX & OTHER $292.0M 3% of revenue
Gross profit $2.2B 24% margin · +49% Y/Y
Operating profit $1.3B 14% margin · +75% Y/Y
Net profit $1.0B 11% margin · +96% Y/Y
The full income statement, year by year

FIX among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: 29.5%, above 96% of 81 peers (their median 4.6%) REVENUE GROWTH 29.5% · above 96% Gross margin: 25.6%, above 14% of 51 peers (their median 38.6%) GROSS MARGIN 25.6% · above 14% Operating margin: 16.7%, above 44% of 71 peers (their median 17.5%) OPERATING MARGIN 16.7% · above 44% Net margin: 13.0%, above 51% of 81 peers (their median 13.0%) NET MARGIN 13.0% · above 51% FCF margin: 19.5%, above 85% of 78 peers (their median 13.0%) FCF MARGIN 19.5% · above 85% Return on capital: 30.7%, above 97% of 65 peers (their median 13.8%) RETURN ON CAPITAL 30.7% · above 97%
FIX Peer median Below the median

What changed

6 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 19, 2026 against Feb 20, 2025.

Risk factors
6 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Inventory growing faster than revenue
Inventory +41.9% vs revenue +29.5% (+12.4 pts)
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
5 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Inventory growing faster than revenue
    Inventory +41.9% vs revenue +29.5% (+12.4 pts)
  • Cash from operations $1.2B vs net income $1.0B (FY ending Dec 31, 2025)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Deloitte & Touche LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Revenue from Contracts with Customers
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

6 paragraphs in Risk Factors that were not in the 10-K filed Feb 20, 2025. Quoted as filed.

All 6 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    In the past we have been required to increase, and it is possible we will in the future be required to increase, the number and percentage of total contract dollars for which we utilize an underlying surety bond. Historically, surety
  2. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    We believe that our practice of placing significant decision-making power with local management is important to our successful growth and allows us to be responsive to opportunities and to our customers’ needs. However, this
  3. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    We face numerous and evolving cybersecurity risks that threaten the confidentiality, integrity and availability of our IT Systems and Confidential Information, including from diverse threat actors, such as state-sponsored organizations, opportunistic hackers and hacktivists, as well as through diverse attack vectors, such as social…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    Changes in U.S. foreign relations, in particular foreign trade policies could lead to the imposition of additional trade barriers and tariffs. We cannot predict the full extent of new, extended, or changed trade policies, including tariffs, that may be made by the current or a future presidential administration or Congress, including…

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$4.1B$5.2B$7.0B$9.1B
Net income$245.9M$323.4M$522.4M$1.0B
Operating cash flow$301.5M$639.6M$849.1M$1.2B
Free cash flow$253.2M$544.7M$738.0M$1.0B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$9.1B ▲ 29.5% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

5 filings in the last 30 days · SEC EDGAR

All filings

About the company

Comfort Systems USA, Houston, TX · from the 10-K filed Feb 19, 2026

Comfort Systems USA, Inc., a Delaware corporation, was established in 1997. We provide mechanical and electrical contracting services. Our mechanical segment principally includes heating, ventilation and air conditioning (“HVAC”), plumbing, piping and controls, as well as off-site construction, monitoring and fire protection. Our electrical segment includes installation and servicing of electrical systems. We build, install, maintain, repair and replace mechanical, electrical and plumbing (“MEP”) systems through our 50 operating units with 190 locations in 142 cities throughout the United States.

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 22, 2026

Employees, at the top of the page: "Employees - As of December 31, 2025, we had approximately 22,700 employees as compared to approximately 18,300 employees as of December 31, 2024" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 19, 2026 (open at SEC), compared with the 10-K filed Feb 20, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/FIX/export.csv") into a cell.