IES Holdings, Inc.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a IESC research report →
Range $458 – $458
Price Chart
About the company
IES Holdings, Inc. operates across the United States, specializing in the engineering and implementation of integrated electrical and technology systems, alongside providing essential infrastructure products and related services. Its Commercial & Industrial division offers electrical and mechanical design, construction, and ongoing maintenance support for a diverse range of facilities.
- CEO
- Matthew J. Simmes
- IPO
- 1998
- Employees
- 10,283
- HQ
- Sugar Land, TX, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a powerful multi-month uptrend, holding well above its 200-day average and still near the upper end of its 52-week range. The setup is extended but constructive, with the longer-term trend still pointing higher after a sharp run from the low-$300s.
Street coverage is thin and cautious: the published consensus sits at Hold, with a single $458 target that is far below the current market level. There have been no recent rating changes, so the main signal is stale coverage rather than a fresh shift in sentiment.
Execution has been consistently strong, with five straight EPS beats and recent surprises of 38.7%, 37.7%, 14.5%, 60.5%, and 7.3%. Next-year EPS is modeled at 22.2 versus 22.49 TTM, so shareholders should watch whether margin discipline can keep earnings elevated even if growth normalizes.
The pattern is net selling, driven by large discretionary sales from the Executive Chairman and one director in mid-June. The July director awards are routine equity grants and do not offset the selling signal; the message is that insiders have been monetizing strength rather than adding exposure.
Profitability is strong, with a 26.3% gross margin, 14.4% operating margin, and 11.4% net margin. Growth is still exceptional, with revenue up 39.6% year over year and earnings up 98.7%, while free cash flow of $353.3 million and net cash of $74.1 million leave the balance sheet in good shape.
IESC stands out on growth and profitability versus typical construction and engineering peers, but the valuation is demanding at 46.5x earnings. That premium is easier to justify if high-margin execution persists, yet it leaves less room for disappointment.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $15.50B
- P/E
- 34.09
- Fwd P/E
- 39.51
- PEG
- 0.48
- P/S
- 3.89
- P/B
- 12.61
- EV/EBITDA
- 25.84
- Div Yield
- 0.00%
- Gross Margin
- 25.90%
- Op Margin
- 12.37%
- Net Margin
- 11.45%
- ROE
- 44.00%
- ROIC
- 28.34%
Latest fiscal year · YoY change
- Revenue
- $3.37B+16.9%
- Gross Profit
- $859.50M+23.4%
- Op Income
- $383.53M
- Net Income
- $305.98M+39.6%
- EPS
- $15.22+51.9%
- OCF Growth
- +22.1%
- FCF Growth
- +15.6%
- 52W High
- $804.00
- 52W Low
- $309.51
- 50D MA
- $674.88
- 200D MA
- $521.72
- Beta
- 1.78
- RSI (14)
- 62
- Avg Volume
- 257.41K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
IES reported a weak fiscal Q1 with lower revenue and backlog, but gross margin improved and management said the restructuring and new sales model are starting to take hold.· February 10, 2009
- Revenue fell to $173 million from $197 million a year ago as volumes declined across all three segments.
- Adjusted EPS was $0.01 per diluted share, down from $0.09 last year; adjusted EBITDA was $3.3 million versus $6.4 million.
- Gross margin improved to 17.1% from 16.8%, helped by better execution and more flexible labor management in commercial and residential.
- Backlog ended at $319 million, below $348 million a year ago, with industrial and commercial softer while residential improved.
- Management launched a new restructuring plan expected to take 12 months and cost $2 million to $3 million pre-tax.
First-quarter fiscal 2009 revenue was $173 million, down from $197 million in the prior-year quarter. Gross profit was about $30 million versus $33 million last year, and gross margin was 17.1% compared with 16.8% a year ago. Adjusted net income from continuing operations excluding restructuring costs was $0.2 million, or $0.01 per diluted share, versus $1.3 million, or $0.09 per diluted share, a year earlier. Adjusted operating income excluding restructuring charges was $1 million versus $2.7 million, and adjusted EBITDA from continuing operations was $3.3 million versus $6.4 million. Backlog was $319 million at quarter-end, compared with $348 million a year ago and $337 million at the end of fiscal 2008. Looking ahead, management said it expects backlog to grow in fiscal 2009 and guided to pre-tax restructuring charges of approximately $2 million to $3 million over about 12 months.
Michael Caliel said the quarter was disappointing, especially on volume and backlog, but emphasized measurable progress on cost reduction and right-sizing the business. He highlighted that the 2008 restructuring reduced the cost base by about $20 million and that the company is now entering another optimization phase to streamline local project and support operations through regional centers. He also said the new sales model is a more structured approach focused on targeted markets and national strategic relationships, and that this is already producing encouraging signs in the pipeline.
Randy Guba walked through the financial pressure from lower activity and the impact of the go-to-market shift, noting revenue of $173 million, gross profit of about $30 million, gross margin of 17.1%, and SG&A of about $29 million net of restructuring charges. He said unrestricted cash and cash equivalents were about $49 million, with about $6 million available under the revolver for total liquidity of roughly $55 million, against total debt of about $29 million. He also noted approximately $400,000 of restructuring costs in the quarter and said the company believes it has adequate liquidity to meet operating needs.
There was no analyst Q&A on the call; management explicitly said the format would be non-interactive and questions would not be taken. The most notable discussion points were management’s explanation that the shift in go-to-market strategy temporarily hurt backlog and sales, especially in industrial, and that backlog quality remained strong even as the total declined. Management also framed the new restructuring and sales approach as necessary responses to a weak construction market.
The positive case is that margins improved despite lower revenue, suggesting the cost actions and operating discipline are working. Management also pointed to a healthier pipeline, a strong backlog quality, improved residential backlog from multifamily projects, and a belief that backlog will grow in fiscal 2009.
The quarter showed clear weakness in demand, with revenue down across commercial, industrial, and residential and backlog below last year’s level. Industrial margins fell sharply, and management acknowledged that the new go-to-market strategy has hurt near-term volume, while the broader construction market remains weak and competitive.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 98.0%
- Shares Outstanding
- 19.92M
- Float Shares
- 19.52M
of shares held by institutions
371 13F filers
Buy/sell ratio 0.11. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Gendell Jeffrey L | 10.34M | ▼ 8.16K |
| Fmr LLC | 2.37M | ▲ 355.08K |
| Vanguard Group Inc | 853.21K | ▼ 13.99K |
| Blackrock, Inc. | 709.57K | ▼ 13.16K |
| Dimensional Fund Advisors LP | 457.95K | ▲ 882 |
| First Trust Advisors LP | 349.16K | ▲ 100.42K |
| Geode Capital Management, LLC | 295.84K | ▲ 21.12K |
| Pertento Partners Llp | 231.24K | ▲ 21.89K |
| State Street Corp | 207.54K | ▲ 1.64K |
| Ubs Group AG | 178.40K | ▲ 89.68K |
| Morgan Stanley | 177.59K | ▲ 6.10K |
| Franklin Resources Inc | 165.17K | ▲ 11.23K |
Held by 316 ETFs
Biggest fund positions in IESC by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 1, 26 | Janzen Kelly | other | 34 |
| Jul 1, 26 | Cleveland Todd M | other | 37 |
| Jul 1, 26 | Fouts John Louis | other | 69 |
| Jul 1, 26 | Gendell David B. | other | 34 |
| Jul 1, 26 | Baldock Jennifer A | other | 36 |
| Jul 1, 26 | Koshkin Joe D | other | 39 |
| Jun 12, 26 | GENDELL JEFFREY L ET AL | sell | 19,996 |
| Jun 12, 26 | GENDELL JEFFREY L ET AL | sell | 4 |
| Jun 12, 26 | GENDELL JEFFREY L ET AL | sell | 7,491 |
| Jun 12, 26 | GENDELL JEFFREY L ET AL | sell | 10,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our IESC coverage
Recent articles, reports, and earnings notes.

IES Holdings (IESC): Data Center Growth Drives Premium
IES Holdings is posting exceptional growth in Communications and Infrastructure Solutions, with backlog surging to $3.86B. The stock earns a Buy, but valuation is already rich versus the company’s improving fundamentals.

IES Holdings' 30% jump without news is a data-center bet in disguise
IESC's 30.27% surge looks like a market re-rating of its data-center exposure, not a random construction-stock spike. A $3.9 billion backlog and 64% infrastructure-revenue growth give the move fundamental support.

IES Holdings (IESC): Data Center Tailwind, But Priced In
IES Holdings has transformed into a higher-quality infrastructure and data center contractor with strong growth, expanding margins, and a clean balance sheet. The stock remains attractive operationally, but valuation is already reflecting much of the good news.
Want a deeper read on IESC?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
A Look at IES Holdings Inc (IESC) After 4.9% Gain -- GF Value $315.34 vs Price $760.36
gurufocus.com · Aug 4
IES Holdings Reports Fiscal 2026 Third Quarter Results and Announces Two-for-One Stock Split
globenewswire.com · Jul 31
A Look at IES Holdings Inc (IESC) After 3.6% Decline -- GF Value $266.25 vs Price $602.89
gurufocus.com · Jul 27
IES Holdings Announces Fiscal 2026 Third Quarter Results Earnings Release Schedule
globenewswire.com · Jul 27
IES Holdings Inc (IESC) Shares Fall 5.7% -- GF Value Says Still Overvalued
gurufocus.com · Jul 24
IES Holdings: The Investment Cycle Looks Longer Than I Expected
seekingalpha.com · Jul 16
Nvidia's CEO Just Predicted a New Blue-Collar Millionaire Class. Here Are 5 Stocks Worth Watching.
247wallst.com · Jul 8
IES Holdings Inc (IESC) Shares Fall 9.0% -- GF Value Says Still Overvalued
gurufocus.com · Jul 7
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 3, 2026 · Live quote · Not investment advice