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What is EME's Change in Working Capital?

  EMCOR Group Inc ( EME ) |
1994 - 2021 (28 years)

Change in Working Capital is 
$176.9M (1Y +5.17% )

EME Stock Price & Change in Working Capital

Change in Working Capital for EME competitors.
FIX PWR DY UTX FLR TPC IESC
Note: Stonk = Stock. Both words are used interchangeably. 🙂

Historical (All-Time) Stats for Change in Working Capital

chevron_right 2021 $94.0M +1.3x *
( +3.1% / year avg)
chevron_left 1994 -$40.4M
vertical_align_top Peak $153.5M +2.02x *
vertical_align_bottom Bottom -$149.8M
arrow_drop_up # Up Years 10 10 of 28
years up.
arrow_drop_down # Down Years 18
Up Years = Positive (0%+) YoY change
Down Years = Zero or Negative (0% or less) YoY change

Key Points (Stonk Price Comparison)

  • EME's stock price has rallied +6,010% from $1.14 in 1994 , or -17.9x faster than it's change in working capital over the same period.
  • If EME grows it's stock at the same rate as it's change in working capital (+3.1%/year) , it's stock price will grow +135% and hit $94.49 over the next 10 years.
  • EME's stock price has gone up 7 of the 10 years (+70%) it's change in working capital were also up.
* A modified method (see: here) is used to calculate changes that involve negative numbers.
  • EME Historical Change in Working Capital Table
    in $ million
    * A modified method (see: here) is used to calculate changes that involve negative numbers.
    Year Change in Working Capital YoY % Change* Stock Price YoY % Change (Stock Price)
    4/1/2021 $93 -38.8% $69.63 -7.2%
    4/1/2020 $153 409.7% $75.01 -13.8%
    4/1/2019 $30 -45.2% $87.05 9.6%
    4/1/2018 $54 -145.6% $79.39 21.8%
    4/1/2017 $-120 -227.8% $65.19 15.9%
    4/1/2016 $94 257.8% $56.24 25.1%
    4/1/2015 $26 759.2% $44.96 7.5%
    4/1/2014 $3 -109.8% $41.84 15.7%
    4/1/2013 $-31 -126.8% $36.15 37.9%
    4/1/2012 $116 -183.2% $26.2 21.5%
    4/1/2011 $-140 -231.5% $21.56 0.7%
    4/1/2010 $106 -28.3% $21.4 -1.9%
    4/1/2009 $148 172.8% $21.8 -32.0%
    4/1/2008 $54 -267.6% $32.06 8.7%
    4/1/2007 $-32 -129.7% $29.5 21.7%
    4/1/2006 $109 16.7% $24.24 86.9%
    4/1/2005 $93 12.4% $12.97 35.8%
    4/1/2004 $83 -215.3% $9.55 -7.9%
    4/1/2003 $-72 -51.6% $10.37 -19.2%
    4/1/2002 $-149 -251.5% $12.82 39.8%
    4/1/2001 $98 64.1% $9.17 61.1%
    4/1/2000 $60 -226.3% $5.69 13.6%
    4/1/1999 $-47 -188.3% $5.01 67.2%
    4/1/1998 $54 -2.9% $3.0 -16.4%
    4/1/1997 $55 22.9% $3.59 3.4%
    4/1/1996 $45 207.8% $3.47 91.9%
    4/1/1995 $14 -136.4% $1.81 58.7%
    4/1/1994 $-40 - $1.14 -

  • About
    Industry: Engineering & Construction
    Sector: Industrials
    Country: US
    IPO Date: 11/16/2000
    Stonk Exchange: NYSE
    • EMCOR Group, Inc
    • engages in the provision of electrical and mechanical construction and facilities services.
    • The company is headquartered in Norwalk, Connecticut and currently employs 33,000 full-time employees.
    • The firm provides building services and industrial services.
    • Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
    • As of December 31, 2016, its services were provided to a range of commercial, industrial, utility and institutional customers through approximately 75 operating subsidiaries and joint venture entities.
    • The company is providing construction services relating to electrical and mechanical systems in various types of non-residential and certain residential facilities, and in providing services relating to the operation, maintenance and management of facilities, including refineries and petrochemical plants.
    • The company operates various electrical and mechanical systems.

  • Change in Working Capital Summary: On the Cash Flow Statement, the Change in Working Capital is defined as Old Working Capital – New Working Capital, where Working Capital = Current Operational Assets – Current Operational Liabilities.

    It’s defined this way on the Cash Flow Statement because Working Capital is a Net Asset, and when an Asset increases, the company must spend cash to do so. For example, think about Inventory: if it goes up, and no other items change, the company must have spent some of its cash to purchase this Inventory.

    Therefore, if Working Capital increases, the company’s cash flow decreases, and if Working Capital decreases, the company’s cash flow increases.

    That explains why the Change in Working Capital has a negative sign when Working Capital increases, while it has a positive sign when Working Capital decreases.

    The Change in Working Capital gives you an idea of how much a company’s cash flow will differ from its Net Income (i.e., after-tax profits), and companies with more power to collect cash quickly from customers and delay payments to suppliers tend to have more positive Change in Working Capital figures.

    For more detailed definitions, please see Investopedia.