AMRC Ameresco, Inc.

Overview and Growth

Ameresco, Inc. generated $1.77B of revenue in fiscal 2024, with net income of $56.76M and an operating cash inflow of $117.60M. The $1.77B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 28.8% from $1.37B in fiscal 2023, increasing the company’s operating scale. The company reported diluted EPS of $1.07, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS decreased by 8.5% from $1.17 in fiscal 2023, showing how the earnings change reached shareholders on a per-share basis. Asset turnover was 0.43x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $256.09M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 14.5%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $108.75M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 6.1% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $56.76M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 3.2% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $33.94M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 1.9%, relating income before taxes directly to revenue. The reported tax benefit was $20.00M, favorably bridging the pretax and after-tax results. Relative to positive pretax income, the tax benefit measured 58.9%. Return on period-end equity was 5.4%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 1.4%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $4.16B of assets against $3.11B of liabilities and $1.05B of equity, revealing how the asset base was financed. The near-term balance sheet paired $1.30B of current assets with $889.01M of current liabilities at the reporting date. The current ratio was 1.46x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $108.52M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 12.2% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 74.8%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 2.6%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $3.71B in fiscal 2023, the current asset base moved 12.0% and finished higher.

Cash Flow and Earnings Quality

The company reported $117.60M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 2.07x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $4.29M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 3.6%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $113.31M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 6.4%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 2.7%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Oct 21, 2026.