The company's comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources, serving federal, state and local governments, utilities, data centers, educational and healthcare institutions. 2025 demonstrated the durability of its model with consistent growth, expanded backlog, improved margins, and maintained financial discipline.
Cyborg Score Rationale
Ameresco was profitable over the last five years but held back by its large cost base, with an average operating margin of 6.7% that was weak for an industrials business. EBITDA guidance for 2026 is $282.5 million at the midpoint, above analyst estimates, yet operating margin declined to 6.8% from 8.4% year-over-year.
Top Insights
Over $5B in project backlog with $10B+ revenue visibility provides strong forward growth visibility.
Q4 2025 revenue beat Wall Street expectations with sales up 9.1% year-on-year to $581 million.
European expansion accelerated by acquisitions and 51%-owned Sunel joint venture, with recent wins in Romania and focus on Southern and Eastern markets.
Operating margin decreased by 1.5 percentage points over the last five years, reflecting rising costs that couldn't be passed to customers.
Named Competitors
Building Energy Efficiency Solutions — HVAC and building automation systems
Renewable Energy Development — Wind, solar, and energy infrastructure
Federal Energy Solutions — Government and institutional energy projects