| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 38 | 44.9x | 17.8x | Bottom tier | |
Growth | 53 | 8.9% | 7.1% | Around median | |
Quality | 20 | 5.0% | 4.5% | Bottom tier | |
Safety | 36 | 3.2x | 2.6x | Bottom tier | |
Capital Return | 16 | — | 2.12% | Bottom tier | |
Momentum | 27 | 4.1% | 2.9% | Bottom tier | |
Sentiment | 90 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Ameresco develops, implements, owns, and operates energy infrastructure, and has reorganized its business around two pillars: Power Infrastructure and Building & Public Infrastructure. The company generates revenue from engineering, procurement, and construction EPC projects, from the energy assets it operates, and from long-term operations and maintenance O&M contracts; its solutions include on-site generation, microgrids, solar energy, battery storage systems, reciprocating engines, gas turbines, and fuel cells. In the second quarter of fiscal 2026, project revenue represented $381 million of total revenue of $515.5 million, while energy asset revenue reached $76 million, with O&M revenue growing 29% year over year.
Ameresco recorded gross profit of $91.3 million and a gross margin of 17.7% in the second quarter of fiscal 2026, compared with net income of $9.7 million and diluted earnings per share of $0.18. Total revenue grew 9% year over year, project revenue increased 6%, and adjusted EBITDA rose 12% to $62.8 million, meaning adjusted operating profit growth outpaced revenue growth. Data for the twelve months ended in 2026 show revenue of $1.9 billion, gross profit of $305.5 million, and net income of $22.8 million.
The recurring revenue base expanded as the portfolio of operating energy assets grew to 822 megawatts, with an additional 513 megawatts under development or construction, based on Ameresco's 70% interest in Neogenyx. The company also provides services to more than 2.5 gigawatts of third-party-owned solar and battery storage assets, and its long-term O&M backlog exceeded $1.5 billion. During the second quarter of fiscal 2026, the company placed an additional 32 megawatts into operation, commissioned the 250-megawatt Napanee battery energy storage system, and activated a 560-megawatt solar project in Greece.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $43, within a wide range of $36 to $62, with a consensus rating of “Buy”; the average is approximately 4% below the 52-week high of $44.93, while the highest target exceeds that high by approximately 38%. The breadth of the targets reflects a meaningful difference in estimates of how quickly the data center backlog will convert into contracts and revenue between 2028 and 2030. No displayed price-to-earnings multiple is available as an additional anchor, which is important because net income for the twelve months ended in 2026 was $22.8 million and because the increase in earnings per share guidance includes an expected tax benefit and a planned accounting change.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
The primary driver is the record $1.8 billion in new awards recorded in the second quarter of fiscal 2026, including $1.2 billion for data centers. This increased awarded backlog by 65% to $4.4 billion and total project backlog by 32% to $6.7 billion. Alongside projects, energy asset revenue grew 21% to $76 million, while O&M revenue increased 29%. Adjusted EBITDA also rose 12% to $62.8 million, outpacing revenue growth of 9%.
Management said on the August 3, 2026 call that converting data center awards into contracts could take 6 to 24 months. After contracting, execution could extend from one to three years depending on the size of the power plant and the number of campus phases. The company expects a potentially limited impact before 2028, while the main impact is likely to appear between 2028 and 2030. Revenue will be recognized as EPC revenue based on percentage of completion, rather than as gains from asset sales.
Ameresco has five data center projects in awarded backlog, in addition to the Lemoore project in its energy asset portfolio. The awarded projects collectively represent more than one gigawatt of generation, following the addition of three projects in the second quarter of fiscal 2026 and the expansion of its presence into Texas and Arizona. The solutions include reciprocating engines, gas turbines, fuel cells, battery systems, and microgrids, with hyperscalers and neoclouds among the transaction parties. Management estimated that awards associated with the existing opportunities could increase from $1.2 billion to $2 billion as their scopes develop.
Revenue in the second quarter of fiscal 2026 reached approximately $515.5 million, compared with $401.5 million in the first quarter of fiscal 2026. Net income shifted from a loss of $18.3 million and negative earnings per share of $0.35 to a profit of $9.7 million and earnings per share of $0.18. Gross profit increased from $56.5 million to $91.3 million, with a reported gross margin of 17.7% in the second quarter. Adjusted EBITDA also reached $62.8 million, a year-over-year increase of 12%.
Ameresco closed the Neogenyx joint venture with HASI during the second quarter of fiscal 2026, and $400 million of the total $471 million in new financing commitments was related to this transaction. After accounting for Ameresco's 70% interest in Neogenyx, operating energy assets reached 822 megawatts, with an additional 513 megawatts under development or construction. The company also serves more than 2.5 gigawatts of third-party solar and battery assets. The long-term O&M backlog exceeded $1.5 billion, and the data center projects could add operations and maintenance contracts after construction is completed.
