15 years of revenue, profit, cash flow and balance-sheet history through FY2024,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 15.3% per year over the past 5 years.
Net income has grown slower than revenue (5.0% vs 15.3% per year).
Operating margin has been roughly flat, at 6.1% in the latest year.
Financial health
Total debt has grown faster than revenue (27.4% vs 15.3% per year).
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2024
$1.8B
$57M
14.5%
6.1%
5.6%
1.4%
$113M
—
$109M
2023
$1.4B
$62M
17.9%
6.0%
6.9%
1.7%
-$76M
—
$79M
2022
$1.8B
$95M
15.9%
7.3%
11.5%
3.3%
-$344M
—
$116M
2021
$1.2B
$70M
18.9%
7.9%
10.0%
3.2%
-$177M
—
$50M
2020
$1.0B
$54M
18.2%
6.9%
11.0%
3.1%
-$105M
—
$66M
2019
$867M
$44M
19.4%
6.0%
10.4%
3.2%
-$203M
$343M
$33M
2018
$787M
$38M
22.1%
7.5%
10.1%
3.3%
-$57M
$254M
$61M
2017
$717M
$37M
20.1%
5.1%
—
3.8%
-$138M
$202M
$24M
2016
$651M
$12M
20.6%
3.7%
—
1.5%
-$55M
$165M
$21M
2015
—
$844000
—
—
0.3%
0.1%
-$51M
$119M
$22M
2014
—
$10M
—
—
3.6%
1.7%
-$437000
$102M
$24M
2013
—
$2M
—
—
—
0.4%
-$63M
$116M
$17M
2012
—
$18M
—
—
—
2.7%
$37M
$122M
$63M
2011
—
$33M
—
—
—
5.2%
-$112M
$208M
$26M
2010
—
$28M
—
—
—
4.7%
$18M
$207M
$45M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Mar '26
$401M
-$18M
14.1%
2.6%
-1.7%
-0.4%
$35M
—
$104M
Sep '25
$526M
$19M
16.0%
8.1%
1.8%
0.4%
$18M
—
$95M
Jun '25
$472M
$13M
15.5%
5.9%
1.2%
0.3%
-$27M
—
$82M
Mar '25
$353M
-$5M
14.7%
3.9%
-0.5%
-0.1%
-$29M
—
$72M
Dec '24
$533M
$37M
12.5%
8.4%
3.7%
0.9%
$17M
—
$109M
Sep '24
$501M
$18M
15.4%
7.0%
1.9%
0.4%
$24M
—
$114M
Jun '24
$438M
$5M
14.9%
4.8%
0.5%
0.1%
$52M
—
$150M
Mar '24
$298M
-$3M
15.7%
2.7%
-0.3%
-0.1%
$20M
—
$78M
Dec '23
$441M
$34M
16.8%
7.7%
3.7%
0.9%
-$31M
—
$79M
Sep '23
$335M
$21M
19.0%
6.4%
2.4%
0.6%
-$9M
—
$108M
Jun '23
$327M
$6M
17.9%
5.4%
0.8%
0.2%
-$94M
—
$49M
Mar '23
$271M
$1M
18.4%
3.4%
0.1%
0.0%
$57M
—
$179M
Dec '22
$332M
$18M
18.6%
6.7%
2.2%
0.6%
-$66M
—
$116M
Sep '22
$441M
$27M
18.0%
8.8%
3.4%
0.9%
$33M
—
$123M
Jun '22
$577M
$32M
14.1%
7.5%
4.2%
1.1%
-$33M
—
$68M
Mar '22
$474M
$17M
14.4%
6.1%
2.4%
0.7%
-$277M
—
$68M
Dec '21
$416M
$28M
17.1%
7.7%
4.0%
1.3%
-$59M
—
$50M
Sep '21
$274M
$17M
21.5%
8.6%
2.6%
0.9%
-$21M
—
$57M
Jun '21
$274M
$14M
19.5%
7.8%
2.1%
0.7%
-$59M
—
$59M
Mar '21
$252M
$11M
18.6%
7.3%
1.8%
0.6%
-$39M
—
$81M
Valuation over time
How the market has priced AMRC against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 27.5× (Mar '23) to 19.6× (Nov '26).
The price-to-sales ratio has fallen from 1.4× (Mar '23) to 0.6× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is AMRC growing its revenue and profit?
Over the past 5 years, Ameresco, Inc.'s revenue has grown 15.3% per year, and net income grown 5.0% per year. These are computed facts, not advice.
How much debt does AMRC have?
As of FY2024, Ameresco, Inc. reported — of total debt against $109M of cash.
What is AMRC's profit margin?
In FY2024, gross margin was 14.5%, operating margin 6.1%, and net margin 3.2%.
What is AMRC's P/E ratio?
Ameresco, Inc.'s P/E (TTM) is 19.60 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AMRC stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 19.6× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.