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Comfort Systems USA Inc

2 managers · $447M total
Data: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrsⓘ
2
2025Q2 – 2026Q2 · flat QoQ
Total position
$447M
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
Baillie GiffordⓘTrim-5.54%$421M0.38%Long-term growth / Global allocation
MarkelHold$26M0.2%Insurance float / Long-term value
What managers sayⓘ
2026-07-17The Monks Investment Trust (Baillie Gifford)BearThe Monks Investment Trust - Quoted Data Annual Overview - Individual - July 2026Detail →
2026-07-01The Monks Investment Trust (Baillie Gifford)BearMonks Investment Trust Annual Report - including the Notice of AGM - April 2026Detail →
2026-07-01The Monks Investment Trust (Baillie Gifford)BullMonks Valuation - 31 May 2026Detail →
2025-12-18The Monks Investment Trust (Baillie Gifford)NeutralMonks Investment Trust Interim Financial Report - October 2025Detail →
2025-09-30Baillie Gifford Global Alpha Growth FundBullBaillie Gifford UK & Balanced Funds ICVC Interim Report - July 2025Detail →
Earnings Callsⓘ
Q3 2026October 23, 2026
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### At a GlanceComfort Systems' Q3 2026 results exceeded expectations, with management reporting EPS of $13.91, a significant increase of $5.66 year-over-year, and emphasizing that performance surpassed recent record levels.
Key data: Revenue of $3.8 billion, up 54% year-over-year; EPS of $13.91, compared to $8.25 in the prior year; backlog reached a record high of $17.8 billion, up 90% year-over-year.
Business progress: Mechanical business activity and profitability grew substantially, while the electrical business achieved organic growth with high margins. On August 1, the company acquired Lewis Electrical and Neopod, which are expected to contribute over $100 million in annual revenue. The modular business continued to expand, with capacity projected to reach 6 million square feet by the end of 2027, though no programmatic agreements have been secured with new customers. Service revenue and profit both achieved double-digit growth.
Guidance & Outlook: Management expects same-store revenue growth in the mid-20% range for 2027, with gross margins expected to remain at recent strong levels. Full-year capital expenditure is projected at 4%-5% of revenue, remaining elevated through the first half of 2027.
Risk/Highlight Signals: Management emphasized that customers are locking in orders early due to capacity scarcity, with labor being the growth bottleneck rather than demand. New customers (frontier labs and colo providers) have generated actual orders but have not yet entered into programmatic partnerships.
Q1 2026February 20, 2026
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FinancialsⓘFY2025 · Source: SEC EDGAR 10-K

5y revenue CAGR 31% · latest net margin 11.2% · FCF consistently positive

Revenue$9.10B
Rev. YoY+29.5%
Gross margin24.1%
Net margin11.2%
Net income$1.02B
Free cash flow$1.03B
Operating cash flow$1.19B
ROE41.8%

Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.