AMRC
Ameresco, Inc.

Ameresco, Inc.AMRC

Industrials · Engineering & Construction
21.61USD
+12.85%
Nov 08, 2026
AMRC overview ready
Full-Lifecycle Developer and Operator of Behind-the-Meter Microgrids
Ameresco is a full-lifecycle energy-infrastructure developer, integrator, owner/operator and O&M provider.
Theme not measured
Energy Efficiency Services has no leadership state this session.
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 its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.
Mixed fundamentals
Ev / ebitda is strong, while free cash flow yield is weak.
Primary risk
Dependence on government and institutional capital spending cycles.
Market Nov 6Price action Nov 7Research Aug 28

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction6.3BusinessPerformance—BusinessQuality4.3Valuation5.3ThemeMomentum—A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Energy Efficiency Services — Energy Efficiency Services has only one or two priced members — no leadership state
Its economic family, Industrials & Infrastructure, reads Improving (+8.8pp vs SPY) — the family’s reading, not this theme’s.
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
$1.1B
Avg Volume (60D)
594.0K
60 sessions
Revenue Growth YoY
+8.9%
Trailing twelve months
Gross Margin
+16.1%
Operating Margin
+6.8%
Trailing twelve months
Free Cash Flow Yield
-32.3%
Distance from 200DMA
-17.6%
Next Earnings
2026-11-09
P/E
41.6x
EV / EBITDA
11.6x
EV / Sales
1.5x
Market metrics as of Nov 7, 2026

Business Performance

Insufficient evidence

A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthNot enough data
+9.1%
$515M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +7.8%
  2. +5.0%
  3. +14%
  4. +9.1%
Earnings growthDeclining
-25%
Diluted EPS $0.18 vs $0.24 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +167%
  2. +6.1%
  3. n/a
  4. -25%
Operating marginExpanding
8.6%
+2.7 pp YoY · gross margin 17.7% (+2.2 pp)

Business Quality

4.3 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is fair.
Ameresco, Inc. has a Fair valuation stance because the price broadly reflects how its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.

What changed

  • AMRC rose 12.8% in one session
    AMRC closed +12.8% while the broad market was close to flat (+0.3%).
    2026-11-06

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
Dependence on government and institutional capital spending cycles.

Economic classification

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Business & Markets

Industrials · Engineering & Construction
What they do

Ameresco, Inc. develops, engineers, installs, and operates energy efficiency and renewable energy projects primarily in the U.S., Canada, and Europe, serving large commercial, institutional, and government customers. It provides full lifecycle energy infrastructure solutions including design, financing, and operations and maintenance services.

How it earns

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

Products & services
Energy efficiency upgrades
Renewable energy systems
Energy security and resilience solutions
Behind-the-meter generation and microgrids
Operations and maintenance services
Customers & end markets
Large commercial and institutional organizations
Government agencies including U.S. Federal
Critical infrastructure operators
Data centers
Market position

Leader in full-lifecycle energy infrastructure development and integration with a growing focus on behind-the-meter microgrid systems.

Demand drivers
Medium cyclicality

Business depends on capital investment cycles in energy infrastructure and government contracting, which can fluctuate with economic conditions and policy changes.

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