AMRC
Ameresco, Inc.

Ameresco, Inc.AMRC

Industrials · Engineering & Construction
24.22USD
+0.58%
Sep 23, 2026
AMRC overview ready
Full-Lifecycle Developer Delivering Behind-the-Meter Microgrid Solutions
Ameresco is a full-lifecycle energy-infrastructure developer, integrator, owner/operator and O&M provider.
Strong narrative exposure
Exposed to the Dispatchable Power for Large Loads narrative through Onsite Power and Microgrids — infrastructure supplier.
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
High leverage limiting financial flexibility.
Market Sep 22Filing Jun 30Price action Sep 22Research Aug 28

Conviction Level

NarrativeHeat9.1ThemeHeat8.8PriceAction6.3Valuation5.9CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$832.9M
Avg Volume (60D)
743.3K
60 sessions
Revenue Growth YoY
+28.8%
FY2024 vs FY2023
Gross Margin
+14.7%
Trailing twelve months
Operating Margin
+6.8%
Trailing twelve months
Free Cash Flow Yield
-1.6%
Distance from 200DMA
-13.3%
Next Earnings
2026-11-02
P/E
20.4x
EV / EBITDA
13.4x
EV / Sales
1.6x
Market metrics as of Sep 22, 2026
Financial results for the period ended Sep 30, 2025
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
Ameresco, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Ameresco is a full-lifecycle energy-infrastructure developer, integrator, owner/operator and O&M provider. It designs and finances customer energy-efficiency and resilience projects while increasingly developing firm, behind-the-meter generation, storage and microgrid systems for critical infrastructure and data-center loads.
Opportunity
High opportunity
Large-load owners are procuring integrated behind-the-meter generation, storage, controls and microgrids to obtain reliable capacity and faster energization when grid capacity or interconnection timelines are constrained.
Key risk
High leverage limiting financial flexibility.

Narrative & Theme

Dispatchable Power for Large Loads
Part of Onsite Power and Microgrids, with strong fit.
Nevertheless, it is a genuine adjacent match: its current awarded backlog includes multiple behind-the-meter data-center power projects involving integrated generation, battery storage, microgrids and long-term O&M.
Narrative HeatHot9.1 / 10
Theme HeatHot8.8 / 10

Business & Markets

Industrials · Engineering & Construction
What they do

Ameresco, Inc. provides energy solutions by designing, developing, engineering, and installing projects that improve energy efficiency, infrastructure, and renewable energy for customers primarily in the US, Canada, and Europe.

How it earns

Project-based revenue from engineering, construction, and ongoing operations and maintenance services.

Products & services
Energy efficiency solutions
Infrastructure upgrades
Energy security and resilience
Renewable energy projects
Operations and maintenance (O&M) services
Customers & end markets
Commercial and institutional businesses
Government organizations including U.S. Federal agencies
Renewable fuels sector
Market position

A specialized engineering and construction integrator focused on energy solutions, positioned as a niche player in the energy efficiency and renewable energy market.

Demand drivers
Medium cyclicality

Demand is influenced by government spending cycles and corporate capital expenditure on energy projects.