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CECO ENVIRONMENTAL CORP

CECO Clue Score70
United States Fiscal year ends December CIK 0000003197
$65.82 +0.41% Close, 9 Oct 2026
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Price $65.82 +838.94% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue417.0Operating income−25.6Net income−38.2EPS, diluted−1.12Fiscal year 2017Revenue345.1 −17.3%Operating income8.0Net income−3.0EPS, diluted−0.09Fiscal year 2018Revenue337.3 −2.2%Operating income10.0Net income−7.1EPS, diluted−0.21Fiscal year 2019Revenue341.9 +1.3%Operating income18.0Net income17.7EPS, diluted−0.50Fiscal year 2020Revenue316.0 −7.6%Operating income13.3Net income8.2 −53.6%EPS, diluted0.23Fiscal year 2021Revenue324.1 +2.6%Operating income9.9Net income1.4 −82.6%EPS, diluted0.04 −82.6%Fiscal year 2022Revenue422.6 +30.4%Operating income22.2Net income17.4 +1,121.4%EPS, diluted0.50 +1,150.0%Fiscal year 2023Revenue544.8 +28.9%Operating income34.6Net income12.9 −25.9%EPS, diluted0.37 −26.0%Fiscal year 2024Revenue557.9 +2.4%Operating income35.4Net income13.0 +0.4%EPS, diluted0.36 −2.7%Fiscal year 2025Revenue774.4 +38.8%Operating income105.9Net income50.1 +286.3%EPS, diluted1.37 +280.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 417.0 345.1 337.3 341.9 316.0 324.1 422.6 544.8 557.9 774.4
Growth −17.3% −2.2% +1.3% −7.6% +2.6% +30.4% +28.9% +2.4% +38.8%
Operating income −25.6 8.0 10.0 18.0 13.3 9.9 22.2 34.6 35.4 105.9
Net income −38.2 −3.0 −7.1 17.7 8.2 1.4 17.4 12.9 13.0 50.1
Growth −53.6% −82.6% +1,121.4% −25.9% +0.4% +286.3%
EPS, diluted −1.12 −0.09 −0.21 −0.50 0.23 0.04 0.50 0.37 0.36 1.37
Growth −82.6% +1,150.0% −26.0% −2.7% +280.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin32.3%Operating margin−6.1%Net margin−9.2%Free cash flow margin16.4%Fiscal year 2017Gross margin32.8%Operating margin2.3%Net margin−0.9%Free cash flow margin1.6%Fiscal year 2018Gross margin33.1%Operating margin3.0%Net margin−2.1%Free cash flow margin5.6%Fiscal year 2019Gross margin33.4%Operating margin5.3%Net margin5.2%Free cash flow margin1.3%Fiscal year 2020Gross margin33.3%Operating margin4.2%Net margin2.6%Free cash flow margin0.2%Fiscal year 2021Gross margin31.1%Operating margin3.0%Net margin0.4%Free cash flow margin3.3%Fiscal year 2022Gross margin30.3%Operating margin5.2%Net margin4.1%Free cash flow margin6.2%Fiscal year 2023Gross margin31.4%Operating margin6.3%Net margin2.4%Free cash flow margin6.7%Fiscal year 2024Gross margin35.2%Operating margin6.3%Net margin2.3%Free cash flow margin1.3%Fiscal year 2025Gross margin34.8%Operating margin13.7%Net margin6.5%Free cash flow margin−0.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 32.3% 32.8% 33.1% 33.4% 33.3% 31.1% 30.3% 31.4% 35.2% 34.8%
Operating margin −6.1% 2.3% 3.0% 5.3% 4.2% 3.0% 5.2% 6.3% 6.3% 13.7%
Net margin −9.2% −0.9% −2.1% 5.2% 2.6% 0.4% 4.1% 2.4% 2.3% 6.5%
Free cash flow margin 16.4% 1.6% 5.6% 1.3% 0.2% 3.3% 6.2% 6.7% 1.3% −0.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow69.6Capital expenditure−1.1Free cash flow68.5Buybacks−0.2Dividends paid−9.0Fiscal year 2017Operating cash flow6.6Capital expenditure−1.0Free cash flow5.5 −91.9%Dividends paid−7.8Fiscal year 2018Operating cash flow22.0Capital expenditure−3.1Free cash flow18.9 +240.3%Fiscal year 2019Operating cash flow10.2Capital expenditure−5.7Free cash flow4.6 −75.8%Fiscal year 2020Operating cash flow4.4Capital expenditure−3.9Free cash flow0.5 −89.6%Buybacks0.0Fiscal year 2021Operating cash flow13.3Capital expenditure−2.6Free cash flow10.7 +2,144.1%Buybacks−5.0Fiscal year 2022Operating cash flow29.6Capital expenditure−3.4Free cash flow26.3 +146.0%Buybacks−7.0Fiscal year 2023Operating cash flow44.6Capital expenditure−8.4Free cash flow36.3 +38.0%Buybacks0.0Fiscal year 2024Operating cash flow24.8Capital expenditure−17.4Free cash flow7.5 −79.4%Buybacks−5.0Fiscal year 2025Operating cash flow5.9Capital expenditure−11.3Free cash flow−5.5 −173.5%Buybacks0.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 69.6 6.6 22.0 10.2 4.4 13.3 29.6 44.6 24.8 5.9
Capital expenditure −1.1 −1.0 −3.1 −5.7 −3.9 −2.6 −3.4 −8.4 −17.4 −11.3
Free cash flow 68.5 5.5 18.9 4.6 0.5 10.7 26.3 36.3 7.5 −5.5
Growth −91.9% +240.3% −75.8% −89.6% +2,144.1% +146.0% +38.0% −79.4% −173.5%
Buybacks −0.2 n/a n/a n/a 0.0 −5.0 −7.0 0.0 −5.0 0.0
Dividends paid −9.0 −7.8 n/a n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash45.8Total debt123.2Net cash (debt)−77.4Shareholders’ equity190.1Debt to equity0.65Fiscal year 2017Cash29.9Total debt114.8Net cash (debt)−84.9Shareholders’ equity186.6Debt to equity0.62Fiscal year 2018Cash43.7Total debt74.5Net cash (debt)−30.8Shareholders’ equity178.6Debt to equity0.42Fiscal year 2019Cash35.6Total debt65.5Net cash (debt)−29.9Shareholders’ equity193.0Debt to equity0.34Fiscal year 2020Cash36.0Total debt72.6Net cash (debt)−36.6Shareholders’ equity202.7Debt to equity0.36Fiscal year 2021Cash29.9Total debt63.8Net cash (debt)−33.9Shareholders’ equity204.6Debt to equity0.31Fiscal year 2022Cash45.5Total debt111.2Net cash (debt)−65.7Shareholders’ equity213.2Debt to equity0.52Fiscal year 2023Cash54.8Total debt137.3Net cash (debt)−82.5Shareholders’ equity232.6Debt to equity0.59Fiscal year 2024Cash37.8Total debt218.9Net cash (debt)−181.0Shareholders’ equity247.7Debt to equity0.88Fiscal year 2025Cash33.1Total debt212.4Net cash (debt)−179.3Shareholders’ equity317.5Debt to equity0.67
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 45.8 29.9 43.7 35.6 36.0 29.9 45.5 54.8 37.8 33.1
Total debt 123.2 114.8 74.5 65.5 72.6 63.8 111.2 137.3 218.9 212.4
Net cash (debt) −77.4 −84.9 −30.8 −29.9 −36.6 −33.9 −65.7 −82.5 −181.0 −179.3
Shareholders’ equity 190.1 186.6 178.6 193.0 202.7 204.6 213.2 232.6 247.7 317.5
Debt to equity 0.65 0.62 0.42 0.34 0.36 0.31 0.52 0.59 0.88 0.67

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
69.6 6.6 22.0 10.2 4.4 13.3 29.6 44.6 24.8 5.9
Growth −90.6% +234.1% −53.4% −56.8% +200.8% +123.0% +50.6% −44.4% −76.4%
18.9 16.1 13.3 10.6 9.9 9.9 10.6 12.5 14.5 24.9
Investment
−1.1 −1.0 −3.1 −5.7 −3.9 −2.6 −3.4 −8.4 −17.4 −11.3
calc 68.5 5.5 18.9 4.6 0.5 10.7 26.3 36.3 7.5 −5.5
Growth −91.9% +240.3% −75.8% −89.6% +2,144.1% +146.0% +38.0% −79.4% −173.5%
calc 2.02 0.16 0.54 0.13 0.01 0.30 0.75 1.03 0.21 −0.15
−1.4 −0.7 38.3 −5.1 −9.2 −2.1 −48.3 −56.5 −105.3 −1.1
Financing
−58.0 −24.1 −44.9 −12.1 3.7 −15.6 38.2 21.1 65.9 −11.6
−9.0 −7.8 n/a n/a n/a n/a n/a n/a n/a n/a
−0.2 n/a n/a n/a 0.0 −5.0 −7.0 0.0 −5.0 0.0

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.