Direct Answer
Comfort Systems USA reported revenue of $1.8 billion for the fiscal year ended December 31, 2025, with an operating margin of 11.4% and net income of $1.0 billion, according to its SEC filings. Revenue fell 73.9% from the prior year.
What Are Comfort Systems USA's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $1.8 billion | $7.0 billion | $5.2 billion | $4.1 billion |
| Operating income | $209 million | $749 million | $418 million | $254 million |
| Operating margin | 11.4% | 10.7% | 8.0% | 6.1% |
| Net income | $1.0 billion | $522 million | $323 million | $246 million |
| Net margin | 55.8% | 7.4% | 6.2% | 5.9% |
| Operating cash flow | $1.2 billion | $849 million | $640 million | $302 million |
| Capital expenditures | $155 million | $111 million | $95 million | $48 million |
| Free cash flow | $1.0 billion | $738 million | $545 million | $253 million |
Operating margin widened by 0.8 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $1.0 billion against net income of $1.0 billion; cash generation covered reported earnings.
What Does Comfort Systems USA's Balance Sheet Show?
| Cash and cash equivalents | $982 million |
|---|---|
| Long-term debt | $139 million |
| Total assets | $6.4 billion |
| Total liabilities | $4.0 billion |
| Shareholders' equity | $2.4 billion |
| Current ratio | 1.2x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Comfort Systems USA reported in its own SEC filings, read from the SEC's XBRL data (accession 0001104659-26-047689 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Comfort Systems USA's revenue in fiscal 2025?
Comfort Systems USA reported revenue of $1.8 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Comfort Systems USA's operating margin?
Comfort Systems USA's operating margin was 11.4% in fiscal 2025: operating income of $209 million on revenue of $1.8 billion.
How much free cash flow did Comfort Systems USA generate?
Operating cash flow of $1.2 billion less capital expenditures of $155 million gives free cash flow of $1.0 billion for fiscal 2025.