Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Investor Presentation (April 2025)
20 slides from Comfort Systems Usa's investor presentation, Apr 30, 2025
Slide 1: April 30, 2025
NYSE: FIX April 30, 2025 SvstemsU) AA
Slide 2: Forward-looking statements
Certain statements and information in this presentation may constitute forward-looking statements within the meaning of applicable securities laws and regulations. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other similar expressions are i
Slide 3: Leading national MEP installation and service provider
• Leading national mechanical, electrical and plumbing (“MEP”) installation and service provider • $7.0+ billion yearly revenue • 62% industrial • 19,000+ employees • History of profitable growth and cash flow • Leading mechanical, electrical, and modular construction and service portfolio
Slide 4: National Footprint
NATIONAL FOOTPRINT 17 8 locations | 13 5 cities | 19 9 0 O 0 + employees
Slide 5: Key end markets and growth drivers
• Technology – Data Centers and Chip Manufacturing • Life Sciences - Pharmaceuticals • Food Processing • Manufacturing • Healthcare • EV Battery • Technology • On-Shoring • Modular • Service
Slide 6: YTD 2025 Revenue and Gross Profit
YTD 2025 Revenue = $1,831.3M YTD 2025 Gross Profit = $403.4M
Slide 7: Revenue Breakdown - YTD 2025
REVENUE BREAKDOWN - YTD 2025 YTD 2025 Revenue = $1.83B ACTIVITY MARKET SECTOR Service Projects 7% Modular 19% oe Education 9% Government 5% New Construction 39% Technology 37% Manufacturing 25% NougrRisb 6 SOMFORTUGA.
Slide 8: Backlog
BACKLOG (Sin millions) $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $ $763 $1,166 $1,602} $1,511 $2,312 4,064 2016 2017 2018 2020 2021 2022 2023 2024 Q1 2025 $5,157 ’ SOMFORTUGA.
Slide 9: Service Maintenance Base
SERVICK MAINTENANCE BASE (Sin millions) $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 $0 $111 $116 $123 $127 $130 $147 $161 $165 $174 2016 2017 2018 2020 2021 2022 2024 Q1 2025 8 SOvFoRZ USA.
Slide 10: Financial summary and Adjusted EBITDA
($ in millions, except per share information) (1) Adjusted EBITDA is a non-GAAP financial measure. See Appendix I for a GAAP reconciliation to Adjusted EBITDA.
Slide 11: Free cash flow, dividends and balance sheet
• Positive free cash flow for 26 consecutive years • Increased dividend for 13 consecutive years • Debt/TTM EBITDA = 0.07 • $204.8 M cash at March 31, 2025 • $67.8 M total debt at March 31, 2025 • Debt capacity – No borrowings at 3/31/25 – $850M senior credit facility – 2027 maturity
Slide 12: Capital Allocation
CAPITAL ALLOCATION ($ in thousands) AVERAGE 2007 - 2024 $13,496 11% $18,176 14% $93,906 75% = Acquisitions = Share Repurchases = Dividends 11 COMFORT SYSTEMS USA.
Slide 13: Capital Returned
CAPITAL RETURNED (S in thousands) FISCAL PERIODS SHARE REPURCHASES DIVIDENDS CAPITAL RETURNED 2016 $13,088 $10,264 $23,352 2017 $9,007 $10,987 $19,994 2018 $28,533 $12,268 $40,801 2019 $19,550 $14,543 $34,093 2020 $30,120 $15,499 $45,619 2021 $27,054 $17,384 $44,438 2022 $38,216 $20,077 $58,293 2023
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Slide 15: Planet, Partners, People
Our sustainability goals are embedded in how we operate as a business – they are part of our very foundation and core values of being safe, honest, respectful, collaborative, and innovative – and we have diligently sought to develop transparent disclosures to support our sustainability commitments.
Slide 16: Innovation and technology initiatives
• Pilots of emerging technologies • Partnerships with industry leading tech firms • Data analytics to drive business insights • Investments in advanced BIM technologies • EAS & TAS modular construction • Mobile technology deployment in service • Early adoption of BIM • Industry-leading prefabricatio
Slide 17: Our core values
Be safe Be honest Be respectful Be innovative Be collaborative
Slide 18: Investment highlights
• Consistent free cash flow • Strong Balance Sheet • Acquisition record • Attractive geographies • Leading innovation • Profitable growth
Slide 19: Contact
19,000+ of the most qualified HVAC and electrical contracting personnel in America 48 operating companies across America at Approximately $7.0+ billion in yearly 178 locations in 135 cities revenue Julie Shaeff Chief Accounting Officer 1-800-723-8431 ir@comfortsystemsusa.com www.comfortsystemsusa.co
Slide 20: Appendix I: Adjusted EBITDA reconciliation
($ in thousands) Note: The Company defines adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) as net income, provision for income taxes, other expense (income), net, changes in the fair value of contingent earn-out obligations, interest expense (income), net
Comfort Systems USA — Investor Presentation (April 2025) on 6ix