Ameresco, Inc. (AMRC) AI Stock Summary

Snapshot

Ameresco is a profitable, growing engineering firm. Revenue hit $1.93B in FY 2025, up 9%, and net income was $44.3M. However, the business burns cash heavily to fund projects. Free cash flow was negative $436M in FY 2025 because it spends on construction before collecting payments. The balance sheet carries $1.95B in debt against only $71.8M in cash. Recent results show a record project backlog of $6.73B, indicating strong demand, but the high leverage and cash burn are key risks.

What's Happening Right Now

• Mon 3rd Aug '26 · Earnings Beat: Reported Q2 revenue of $515.5M, up 9% year-over-year, with a record $1.8B in new awards increasing backlog by 32% to $6.73B, while raising full year guidance.
• Mon 27th Jul '26 · Board Change: Appointed Brian Cox to the Board of Directors to add expertise in data center energy infrastructure.
• Tue 12th May '26 · Joint Venture: Closed the Neogenyx Fuels joint venture with HASI, spinning off its biofuels business into a new entity with a $1.8B valuation, and received $100M at closing.

Ownership

Institutions hold 64.7% of shares, while insiders hold 2.5%.

Bottom Line

Ameresco looks like a growth engine with record backlog and rising revenue. But the stock is expensive at roughly 32 times earnings and the company is burning cash while carrying nearly $2B in debt. A reader needs to decide if the massive project pipeline justifies the leverage and the negative cash flow.