IES Holdings, Inc. IESC

Industrials SIC 1731 - Electrical Work NAICS Construction › Specialty Trade Contractors › Building Equipment Contractors › Electrical Contractors and Other Wiring Installation Contractors derived Nasdaq

IES Holdings, Inc. designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing and commercial and industrial facilities. Our operations are organized into four business segments, based upon the nature of our services:

•Communications – Nationwide provider of technology infrastructure services, including the design, build, and maintenance of the communications infrastructure within data centers for co-location and managed hosting customers, for both large corporations and independent businesses.

•Residential – Regional provider of electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation and air conditioning (HVAC) and plumbing installation services in certain markets.

Last close 213.54 2026-10-23
Market cap $4.25B 2026-06-30 share count
52-week range 170.07 - 408.25

Valuation FY2025 figures against the last close

P/S1.3x
P/E14.2x
P/FCF19.4x
EV/EBITDA9.3x
Dividend yield—
Diluted EPS15.02

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Residential
  • Communications
  • Infrastructure Solutions
  • Commercial and Industrial
  • Other
Revenue by segment, 5 categories over 3 years. The same figures are in the table below. FY2025 Residential, FY2025: 1.3B (38.7%) 39% Residential Communications, FY2025: 1.1B (33.8%) 34% Communications Infrastructure Solutions, FY2025: 498.7M (14.8%) 15% Commercial and Industrial, FY2025: 427.7M (12.7%) 13% Other, FY2025: 0 (0.0%) FY2024 Residential, FY2024: 1.4B (48.2%) 48% Communications, FY2024: 776.5M (26.9%) 27% Infrastructure Solutions, FY2024: 351.1M (12.2%) 12% Commercial and Industrial, FY2024: 367.9M (12.8%) 13% Other, FY2024: 0 (0.0%) FY2023 Residential, FY2023: 1.3B (53.8%) 54% Communications, FY2023: 600.8M (25.3%) 25% Infrastructure Solutions, FY2023: 217.4M (9.1%) 9% Commercial and Industrial, FY2023: 279.6M (11.8%) 12% Other, FY2023: 0 (0.0%)
Segment FY2025FY2024FY2023
Residential $1.30B $1.39B $1.28B
Communications $1.14B $776.5M $600.8M
Infrastructure Solutions $498.7M $351.1M $217.4M
Commercial and Industrial $427.7M $367.9M $279.6M
Other $0 $0 $0

As the company reported it, from the “Operating Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.37B$2.88B$2.38B$2.17B$1.54B$1.19B$1.08B$876.8M$810.7M$696.0M
Cost of revenue $2.51B$2.19B$1.93B$1.85B$1.25B$962.9M$894.9M$726.9M$670.2M$569.0M
Gross profit $859.5M$696.6M$444.5M$318.9M$288.0M$228.0M$182.1M$150.0M$140.5M$127.0M
SG&A $475.0M$396.7M$298.6M$262.7M$202.3M$170.9M$140.6M$123.9M$120.4M$100.6M
Operating income $383.5M$300.9M$159.8M$56.0M$85.6M$50.1M$41.9M$26.0M$20.3M$25.0M
Interest expense $1.8M$1.3M$3.0M$3.0M$962.0K——$1.9M$1.7M$1.3M
Pre-tax income $393.9M$304.7M$158.5M$53.0M$84.9M$49.3M$40.1M$24.3M$18.8M$23.8M
Income tax $96.8M$72.2M$38.8M$12.8M$16.2M$8.7M$6.7M$38.2M$5.2M$97.1M
Net income $306.0M$219.1M$108.3M$34.8M$66.7M$41.6M$33.2M-$14.2M$13.4M$120.8M
EPS, basic 15.2210.024.581.453.191.961.56-0.670.625.63
EPS, diluted 15.029.894.541.443.151.941.55-0.670.625.62
Shares, diluted (wtd. avg.) 20.2M20.4M20.4M20.9M21.1M21.1M21.3M21.2M21.5M21.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $127.2M$100.8M$75.8M$24.8M$23.1M$53.6M$18.9M$26.2M$28.3M$33.2M
Short-term investments $104.6M$35.0M$0———————
Receivables $552.2M$469.8M$363.8M$370.7M$286.7M$213.0M$186.3M$151.6M$142.9M$124.4M
Inventory $111.5M$101.7M$95.7M$96.3M$68.6M$24.9M$21.5M$21.0M$16.9M$13.2M
Total current assets $1.09B$871.7M$671.3M$624.4M$484.2M$371.4M$296.5M$262.7M$231.8M$209.7M
Property, plant and equipment $183.2M$134.2M$63.4M$54.4M$35.5M$24.6M$25.7M$25.4M$24.6M$15.7M
Goodwill $107.8M$94.0M$92.4M$92.4M$92.4M$53.8M$50.6M$50.7M$46.7M$39.9M
Other intangibles $41.6M$45.9M$56.2M$71.9M$85.6M$39.4M$26.6M$30.6M$31.4M$31.7M
Total assets $1.60B$1.24B$981.6M$934.7M$766.6M$560.5M$445.3M$422.0M$424.5M$394.3M
Accounts payable $456.6M$363.6M$296.8M$316.9M$249.1M$186.7M$152.9M$130.6M$120.7M$108.8M
Short-term debt —————————$0
Total current liabilities $633.4M$522.6M$400.6M$401.9M$311.6M$242.4M$193.5M$164.4M$150.6M$133.1M
Long-term debt $0$0$0$81.6M$39.7M$217.0K$299.0K$29.6M$29.4M$29.3M
Total liabilities $707.7M$591.9M$481.7M$544.2M$396.1M$275.4M$195.7M$198.4M$184.5M$169.1M
Retained earnings $800.8M$497.8M$295.8M$203.2M$173.1M$107.0M$65.6M$32.3M$46.4M$32.7M
Total equity $884.0M$611.1M$450.0M$361.3M$346.0M$283.3M$246.2M$220.4M$236.7M$223.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $286.1M$234.4M$153.9M$16.3M$37.9M$76.7M$38.7M$12.2M$22.3M$25.0M
Depreciation and amortisation $46.9M$37.1M$29.4M$25.5M$21.9M$12.5M$9.6M$8.9M$9.6M$5.7M
Stock-based compensation $12.9M$5.5M$4.4M$3.8M$3.5M$3.3M$2.4M-$136.0K$1.7M—
Capital expenditure $67.3M$45.2M$17.7M$29.3M$7.4M$4.7M$6.3M$4.6M$4.6M$3.4M
Investing cash flow -$163.7M-$108.8M$2.8M-$29.5M-$99.6M-$33.6M-$5.7M-$11.9M-$24.5M-$60.7M
Financing cash flow -$96.1M-$100.5M-$105.8M$15.0M$31.2M-$8.5M-$40.3M-$2.4M-$2.7M$19.6M
Buybacks $41.6M$44.0M$8.3M$18.6M$7.0M$7.7M$9.8M$2.1M$2.4M$590.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001048268-25-000174.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B 4B Revenue, FY2016: 696M Gross profit, FY2016: 127M Net income, FY2016: 120.8M Revenue, FY2017: 810.7M Gross profit, FY2017: 140.5M Net income, FY2017: 13.4M Revenue, FY2018: 876.8M Gross profit, FY2018: 150M Net income, FY2018: -14.2M Revenue, FY2019: 1.1B Gross profit, FY2019: 182.1M Net income, FY2019: 33.2M Revenue, FY2020: 1.2B Gross profit, FY2020: 228M Net income, FY2020: 41.6M Revenue, FY2021: 1.5B Gross profit, FY2021: 288M Net income, FY2021: 66.7M Revenue, FY2022: 2.2B Gross profit, FY2022: 318.9M Net income, FY2022: 34.8M Revenue, FY2023: 2.4B Gross profit, FY2023: 444.5M Net income, FY2023: 108.3M Revenue, FY2024: 2.9B Gross profit, FY2024: 696.6M Net income, FY2024: 219.1M Revenue, FY2025: 3.4B Gross profit, FY2025: 859.5M Net income, FY2025: 306M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $696.0M $810.7M $876.8M $1.08B $1.19B $1.54B $2.17B $2.38B $2.88B $3.37B
Gross profit $127.0M $140.5M $150.0M $182.1M $228.0M $288.0M $318.9M $444.5M $696.6M $859.5M
Net income $120.8M $13.4M -$14.2M $33.2M $41.6M $66.7M $34.8M $108.3M $219.1M $306.0M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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