IESC Industrials

IES Holdings, Inc.

$203.38+3.73%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 8.6B USD
Enterprise value: 9.7B USD
Full-time employees: 10,262

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.77 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.77 vs peers 0.64)
About average: valuation

Ranks #376 of 2,308 industrials companies (top 17%)

See how it ranks against its peers

Worth knowing

Profit recovered from an unusually weak FY Sep 2022. Since FY Sep 2022 (an unusually weak year for operating profit): revenue +56%, operating profit +585%.Since FY Sep 2022: revenue +56%, operating profit +585%.
Since FY Sep 2022, IES's revenue grew 56% while operating profit grew 585%: each extra dollar of sales is adding more profit.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.2B in FY Sep 2020 to $3.4B in FY Sep 2025.
IES's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $1.2B to $3.4B.
Fast revenue growth. Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 88% of peers.
Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 88% of its peers.
More volatile share price. Beta 1.77: tends to move more than the market.
IES's shares have swung more with the market than most peers' (beta 1.77, above the market's 1.0).

StockQuotient Score

68/ 100▲ 1 since Oct 27 close

Oct 5 64 → Nov 4 68 (+4)

Valuation

Is the price right?

53/100

Moderate▲ 6 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 47 → 53

Share price -10.6%+5
Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield5.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.61Sector median: 0.0377 · MAD: 0.0294

EBITDA yield7.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.07Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield2.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.24Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield15.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

93/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 9.7%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth72.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.62Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth19.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.42Sector median: 0.0421 · MAD: 0.0625

Revenue growth22.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.39Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

96/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin12.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.91Sector median: 0.0773 · MAD: 0.0507

Return on assets19.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.33Sector median: 0.0311 · MAD: 0.0241

Return on invested capital32.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 4.60Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin26.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity36.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.77

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.49Sector median: 0.6440 · MAD: 0.2745

Current ratio1.63×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.02Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.03×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.09Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about IES

Is IES getting weaker?: Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 68/100, up 1 since Oct 28, 2026.
How is IES valued vs its peers?: Priced about in line with its peers. Valuation scores 53/100 against 2,459 industrials peers. Earnings yield 5.6% vs a peer median of 3.8% (stronger than 67% of peers).Earnings yield 5.6% vs peers 3.8% (stronger than 67% of peers).
Is IES growing?: Yes, faster than most of its peers. Growth scores 93/100 against 2,459 industrials peers. 3-year revenue growth 19.3% vs a peer median of 4.2% (stronger than 90% of peers).3-year revenue growth 19.3% vs peers 4.2% (stronger than 90% of peers).
How profitable is IES?: More profitable than most of its peers. Profitability scores 96/100 against 2,459 industrials peers. Return on assets 19.9% vs a peer median of 3.1% (stronger than 95% of peers).Return on assets 19.9% vs peers 3.1% (stronger than 95% of peers).
How risky is IES?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.03× vs a peer median of 0.40× (stronger than 87% of peers).Debt / equity 0.03× vs peers 0.40× (stronger than 87% of peers). Beta 1.77 vs a peer median of 0.64 (weaker than 100% of peers).Beta 1.77 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	3.6B USD	4.0B USD	+9.7%
Net income (12 months)	377.8M USD	452.0M USD	+19.7%
Operating margin	11.7%	12.4%	+0.6 pts
Free cash flow (12 months)	239.4M USD	228.4M USD	−4.6%
Debt	35.0M USD	35.0M USD	0.0%
Cash	48.7M USD	77.3M USD	+58.8%
Shares outstanding	19.9M	19.9M	+0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	18.7%	14.7%	18.7%	24.2%	25.5%	▲ 1.3 pts
Operating margin	5.6%	2.6%	6.7%	10.4%	11.4%	▲ 0.9 pts
Net margin	4.3%	1.6%	4.6%	7.6%	9.1%	▲ 1.5 pts
Return on assets (ROA)	8.7%	3.7%	11.0%	17.6%	19.2%	▲ 1.6 pts
Return on equity (ROE)	19.3%	9.6%	24.1%	35.9%	34.6%	▼ 1.2 pts
Free cash flow margin	2.0%	-0.6%	5.7%	6.6%	6.5%	▼ 0.1 pts
Current ratio	1.55×	1.55×	1.68×	1.67×	1.71×	▲ 2.7%
Quick ratio	1.33×	1.31×	1.44×	1.47×	1.54×	▲ 4.4%
Debt to equity	0.11×	0.23×	0.00×	0.00×	0.00×	—
Interest coverage	88.96×	18.86×	52.87×	224.87×	211.43×	▼ 6.0%

IESC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.77 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.77 vs peers 0.64)

About average: valuation

Ranks #376 of 2,308 industrials companies (top 17%)

See how it ranks against its peers

Worth knowing

Profit recovered from an unusually weak FY Sep 2022. Since FY Sep 2022 (an unusually weak year for operating profit): revenue +56%, operating profit +585%.Since FY Sep 2022: revenue +56%, operating profit +585%.

Since FY Sep 2022, IES's revenue grew 56% while operating profit grew 585%: each extra dollar of sales is adding more profit.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.2B in FY Sep 2020 to $3.4B in FY Sep 2025.

IES's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $1.2B to $3.4B.

Fast revenue growth. Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 88% of peers.

Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 88% of its peers.

More volatile share price. Beta 1.77: tends to move more than the market.

IES's shares have swung more with the market than most peers' (beta 1.77, above the market's 1.0).

Questions investors ask about IES

Is IES getting weaker?

Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 68/100, up 1 since Oct 28, 2026.

How is IES valued vs its peers?

Priced about in line with its peers. Valuation scores 53/100 against 2,459 industrials peers. Earnings yield 5.6% vs a peer median of 3.8% (stronger than 67% of peers).Earnings yield 5.6% vs peers 3.8% (stronger than 67% of peers).

Is IES growing?

Yes, faster than most of its peers. Growth scores 93/100 against 2,459 industrials peers. 3-year revenue growth 19.3% vs a peer median of 4.2% (stronger than 90% of peers).3-year revenue growth 19.3% vs peers 4.2% (stronger than 90% of peers).

How profitable is IES?

More profitable than most of its peers. Profitability scores 96/100 against 2,459 industrials peers. Return on assets 19.9% vs a peer median of 3.1% (stronger than 95% of peers).Return on assets 19.9% vs peers 3.1% (stronger than 95% of peers).

How risky is IES?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.03× vs a peer median of 0.40× (stronger than 87% of peers).Debt / equity 0.03× vs peers 0.40× (stronger than 87% of peers). Beta 1.77 vs a peer median of 0.64 (weaker than 100% of peers).Beta 1.77 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

3.6B USD

4.0B USD

+9.7%

Net income (12 months)

377.8M USD

452.0M USD

+19.7%

Operating margin

11.7%

12.4%

+0.6 pts

Free cash flow (12 months)

239.4M USD

228.4M USD

−4.6%

Debt

35.0M USD

35.0M USD

0.0%

Cash

48.7M USD

77.3M USD

+58.8%

Shares outstanding

19.9M

19.9M

+0.0%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

18.7%

14.7%

18.7%

24.2%

25.5%

▲ 1.3 pts

Operating margin

5.6%

2.6%

6.7%

10.4%

11.4%

▲ 0.9 pts

Net margin

4.3%

1.6%

4.6%

7.6%

9.1%

▲ 1.5 pts

Return on assets (ROA)

8.7%

3.7%

11.0%

17.6%

19.2%

▲ 1.6 pts

Return on equity (ROE)

19.3%

9.6%

24.1%

35.9%

34.6%

▼ 1.2 pts

Free cash flow margin

2.0%

-0.6%

5.7%

6.6%

6.5%

▼ 0.1 pts

Current ratio

1.55×

1.68×

1.67×

1.71×

▲ 2.7%

Quick ratio

1.33×

1.31×

1.44×

1.47×

1.54×

▲ 4.4%

Debt to equity

0.11×

0.23×

0.00×

—

Interest coverage

88.96×

18.86×

52.87×

224.87×

211.43×

▼ 6.0%