NYSE:AMRC

Stock Analysis Report

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Executive Summary

Ameresco, Inc. provides comprehensive energy services for businesses and organizations in North America and Europe.


Snowflake Analysis

Acceptable track record and slightly overvalued.


Similar Companies

Share Price & News

How has Ameresco's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AMRC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.0%

AMRC

1.4%

US Construction

4.0%

US Market


1 Year Return

92.2%

AMRC

-12.6%

US Construction

4.9%

US Market

Return vs Industry: AMRC exceeded the US Construction industry which returned -12.6% over the past year.

Return vs Market: AMRC exceeded the US Market which returned 5% over the past year.


Shareholder returns

AMRCIndustryMarket
7 Day3.0%1.4%4.0%
30 Day26.4%-5.4%1.3%
90 Day80.3%28.1%29.5%
1 Year92.2%92.2%-12.0%-12.6%7.2%4.9%
3 Year294.4%294.4%-7.7%-9.7%36.1%27.2%
5 Year299.4%299.4%18.0%13.7%65.3%46.9%

Price Volatility Vs. Market

How volatile is Ameresco's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ameresco undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AMRC ($28.2) is trading below our estimate of fair value ($211.38)

Significantly Below Fair Value: AMRC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AMRC is poor value based on its PE Ratio (28.4x) compared to the Construction industry average (13.3x).

PE vs Market: AMRC is poor value based on its PE Ratio (28.4x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: AMRC is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: AMRC is overvalued based on its PB Ratio (3.1x) compared to the US Construction industry average (1.5x).


Next Steps

Future Growth

How is Ameresco forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

15.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AMRC's forecast earnings growth (15.2% per year) is above the savings rate (2.2%).

Earnings vs Market: AMRC's earnings (15.2% per year) are forecast to grow slower than the US market (22.8% per year).

High Growth Earnings: AMRC's earnings are forecast to grow, but not significantly.

Revenue vs Market: AMRC's revenue (7.7% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: AMRC's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AMRC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Ameresco performed over the past 5 years?

35.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AMRC has a high level of non-cash earnings.

Growing Profit Margin: AMRC's current net profit margins (5%) are higher than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: AMRC's earnings have grown significantly by 35.8% per year over the past 5 years.

Accelerating Growth: AMRC's earnings growth over the past year (32.3%) is below its 5-year average (35.8% per year).

Earnings vs Industry: AMRC earnings growth over the past year (32.3%) exceeded the Construction industry 15.6%.


Return on Equity

High ROE: AMRC's Return on Equity (9.5%) is considered low.


Next Steps

Financial Health

How is Ameresco's financial position?


Financial Position Analysis

Short Term Liabilities: AMRC's short term assets ($438.1M) exceed its short term liabilities ($316.1M).

Long Term Liabilities: AMRC's short term assets ($438.1M) do not cover its long term liabilities ($633.4M).


Debt to Equity History and Analysis

Debt Level: AMRC's debt to equity ratio (132.3%) is considered high.

Reducing Debt: AMRC's debt to equity ratio has increased from 66.6% to 132.3% over the past 5 years.

Debt Coverage: AMRC's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: AMRC's interest payments on its debt are well covered by EBIT (3.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Ameresco current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AMRC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AMRC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AMRC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AMRC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AMRC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.5yrs

Average management tenure


CEO

George Sakellaris (73yo)

20.5yrs

Tenure

US$3,897,493

Compensation

Mr. George P. Sakellaris, P.E., founded Ameresco, Inc. in April 2000 and also has been its Chairman, Chief Executive Officer and President since 2000. Mr. Sakellaris had a vision of creating an energy comp ...


CEO Compensation Analysis

Compensation vs Market: George's total compensation ($USD3.90M) is about average for companies of similar size in the US market ($USD4.70M).

Compensation vs Earnings: George's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
George Sakellaris
Founder20.5yrsUS$3.90m44.91% $602.4m
Spencer Hole
Senior VP & CFO1yrUS$1.06mno data
Mark Chiplock
VP of Finance & Chief Accounting Officer1.75yrsUS$735.98kno data
David Corrsin
Executive VP20.5yrsUS$677.52k1.03% $13.8m
Michael Bakas
Executive Vice President of Distributed Energy Systemsno dataUS$710.88kno data
Nicole Bulgarino
Executive VP & GM of Federal Solutionsno dataUS$771.38k0.00072% $9.7k
Leila Dillon
Vice President of Marketing & Communications1.5yrsno datano data
Lauren Todd
Vice President of Human Resources & Operations1.5yrsno datano data
David Anderson
Executive VP & Director20.5yrsUS$438.92k0.15% $2.0m
Louis Maltezos
Executive Vice President11.25yrsUS$413.78k0.063% $846.0k

6.5yrs

Average Tenure

52yo

Average Age

Experienced Management: AMRC's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
George Sakellaris
Founder20.5yrsUS$3.90m44.91% $602.4m
David Corrsin
Executive VP20.5yrsUS$677.52k1.03% $13.8m
David Anderson
Executive VP & Director20.5yrsUS$438.92k0.15% $2.0m
Joseph Sutton
Independent Lead Director9.17yrsUS$296.18k0.10% $1.4m
Nickolas Stavropoulos
Independent Director1.25yrsUS$512.72k0.0084% $112.8k
Thomas Murley
Independent Director3.75yrsUS$286.68k0.022% $296.0k
Jennifer Miller
Independent Director5.5yrsUS$291.18k0.025% $338.4k
Francis Wisneski
Independent Director9.17yrsUS$300.68k0.16% $2.1m
Douglas Foy
Independent Director10.17yrsUS$295.68k0.029% $394.8k

9.2yrs

Average Tenure

64yo

Average Age

Experienced Board: AMRC's board of directors are considered experienced (9.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AMRC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ameresco, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ameresco, Inc.
  • Ticker: AMRC
  • Exchange: NYSE
  • Founded: 2000
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: US$1.341b
  • Shares outstanding: 47.57m
  • Website: https://www.ameresco.com

Number of Employees


Location

  • Ameresco, Inc.
  • 111 Speen Street
  • Suite 410
  • Framingham
  • Massachusetts
  • 1701
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AMRCNYSE (New York Stock Exchange)YesClass A Common StockUSUSDJul 2010
4AMDB (Deutsche Boerse AG)YesClass A Common StockDEEURJul 2010

Biography

Ameresco, Inc. provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S. Federal, Canada, and Non-Solar Distributed Generation segments. It designs, develops, engineers, and installs projects that reduce the energy, as well as operations and maintenance costs of customers’ facilities. The company’s projects primarily include various measures customized for the facility and designed to enhance the efficiency of building systems, such as heating, ventilation, cooling, and lighting systems. It also offers renewable energy products and services, such as the construction of small-scale plants for customers that produce electricity, gas, heat, or cooling from renewable sources of energy; and sells electricity and processed renewable gas fuel, heat, or cooling. In addition, the company provides integrated- photovoltaic (PV) and consulting, and enterprise energy management services; sells solar PV energy products and systems; and owns and operates a wind power project located in County Kerry, Ireland. It serves federal, state, and local governments, as well as healthcare and educational institutions, housing authorities, and commercial and industrial customers. As of December 31, 2019, the company owned and operated 99 small-scale renewable energy plants and solar PV installations. Ameresco, Inc. was founded in 2000 and is headquartered in Framingham, Massachusetts. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/04 23:54
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.