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Ameresco Valuation Multiples

Discover revenue and EBITDA valuation multiples for Ameresco and similar public comparables like Lendlease, PORR, Friedrich Vorwerk Group, Orascom Construction and more.

Ameresco Overview

About Ameresco

Ameresco Inc provides energy efficiency solutions for facilities in North America and Europe. It focuses on projects that reduce energy, also focuses on the operations and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco distributes solar energy products and systems, such as PV panels, solar regulators, solar charge controllers, inverters, solar-powered lighting systems, solar-powered water pumps, solar panel mounting hardware, and other system components. The company's segment includes U.S. Regions; U.S. Federal; Canada; Alternative Fuels; Non-Solar DG and All Other. It derives a majority of its revenue from the U.S. Regions segment.


Founded

2000

HQ

United States

Employees

1.5K

Financials (LTM)

Revenue: $2B
EBITDA: $249M

EV

$3B

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Ameresco Financials

Ameresco reported last 12-month revenue of $2B and EBITDA of $249M.

In the same LTM period, Ameresco generated $328M in gross profit, $249M in EBITDA, and $49M in net income.

Revenue (LTM)


Ameresco P&L

In the most recent fiscal year, Ameresco reported revenue of $2B and EBITDA of $237M.

Ameresco is profitable as of last fiscal year, with gross margin of 16%, EBITDA margin of 12%, and net margin of 2%.

See analyst estimates for Ameresco
LTMLast FY202320242025202620272028
Revenue$2B$2B$1B$2B$2B
Gross Profit$328M$304M$246M$256M$304M
Gross Margin16%16%18%14%16%
EBITDA$249M$237M$145M$193M$237M
EBITDA Margin12%12%11%11%12%
EBIT Margin7%7%6%5%7%
Net Profit$49M$44M$62M$57M$44M
Net Margin2%2%5%3%2%
Net Debt—$2B———

Financial data powered by Morningstar, Inc.

Ameresco Stock Performance

Ameresco has current market cap of $2B, and enterprise value of $3B.

Market Cap Evolution


Ameresco's stock price is $28.93.

Ameresco share price decreased by 2.2% in the last 30 days, and increased by 109.9% in the last year.

Ameresco has an EPS (earnings per share) of $0.84.

See more trading valuation data for Ameresco
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$3B$2B-6.7%-2.2%-5.0%109.9%$0.84

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Ameresco Valuation Multiples

Ameresco trades at 1.7x EV/Revenue multiple, and 14.0x EV/EBITDA.

See NTM and 2027E valuation multiples for Ameresco

EV / Revenue (LTM)


Ameresco Financial Valuation Multiples

As of May 20, 2026, Ameresco has market cap of $2B and EV of $3B.

Ameresco has a P/E ratio of 31.3x.

LTMLast FY202320242025202620272028
EV/Revenue1.7x1.8x2.5x2.0x1.8x
EV/EBITDA14.0x14.7x24.1x18.0x14.7x
EV/EBIT25.5x27.1x41.0x42.4x27.1x
EV/Gross Profit10.6x11.4x14.1x13.6x11.4x
P/E31.3x34.6x24.5x27.0x34.6x
EV/FCF196.8x(26.1x)(5.6x)(10.8x)(8.0x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Ameresco Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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Ameresco Margins & Growth Rates

Ameresco grew revenue by 9% and EBITDA by 13% in the last fiscal year.

In the most recent fiscal year, Ameresco reported gross margin of 16%, EBITDA margin of 12%, and net margin of 2%.

See estimated margins and future growth rates for Ameresco

Ameresco Margins

Last FY202420252026202720282029
Gross Margin16%14%16%17%
EBITDA Margin12%11%12%13%
EBIT Margin7%5%7%7%
Net Margin2%3%2%3%
FCF Margin(7%)(18%)(23%)12%

Ameresco Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth9%29%9%9%
Gross Profit Growth20%4%19%20%
EBITDA Growth13%34%23%13%
EBIT Growth22%(3%)57%22%
Net Profit Growth27%(9%)(22%)27%
FCF Growth(295%)(48%)36%(160%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Ameresco Operational KPIs

Ameresco's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $0.1M for the same period.

Ameresco's Rule of 40 is 22% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ameresco's Rule of X is 35% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Ameresco
LTMLast FY202320242025202620272028
Rule of 4021%22%———
Bessemer Rule of X34%35%———
Revenue per Employee—$1.3M———
Opex per Employee—$0.1M———
Opex to Revenue—9%12%10%9%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Ameresco Competitors

Ameresco competitors include Lendlease, PORR, Friedrich Vorwerk Group, Orascom Construction, Wacker Neuson, Danya Cebus, SHO-BOND Holdings Co, Duerr, Cairn Homes and Implenia.

Most Ameresco public comparables operate across Construction & Engineering.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Lendlease0.7x0.8x6.6x35.4x
PORR0.2x0.2x2.5x2.6x
Friedrich Vorwerk Group2.3x1.6x14.7x6.9x
Orascom Construction0.1x—1.1x—
Wacker Neuson0.6x0.6x6.2x4.9x
Danya Cebus0.7x—13.5x—
SHO-BOND Holdings Co2.4x2.6x10.3x11.0x
Duerr0.3x0.3x3.8x3.7x

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Ameresco M&A Activity

Ameresco has acquired 6 companies to date.

Last acquisition by Ameresco was on March 3rd 2025. Ameresco acquired ASA Controls for $4M (EV/Revenue multiple of ).

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Latest Acquisitions by Ameresco

ASA Controls
Enerqos
Plug Smart
Maximum Solar
Description
—
Enerqos is a Milan-based Italian firm providing energy efficiency retrofits and solar PV EPC services for commercial buildings. It has installed 100 MW of PV across Italy, mainly for retail chains and hotels like Coop and Accor. Enerqos offers O&M for 110 MW portfolios and financing with performance guarantees, headquartered in Tuscany.
Plug Smart is a Houston-based provider of building automation systems, energy management projects, and security integrations. It offers design-build services for HVAC controls and access systems, serving commercial properties in Texas since 2005 with partnerships alongside Siemens and Honeywell.
Maximum Solar is a New York-based operations and maintenance provider for solar facilities across the northeastern United States. The company manages assets for utilities like National Grid and independent owners, handling remote monitoring, electrical testing, thermal imaging, and site maintenance including vegetation control and snow removal. Services cover facilities from 100-kilowatt rooftop systems to utility-scale plants. Established in 2009, it employs certified technicians for annual inspections and performance optimization.
HQ CountryUnited StatesItalyUnited StatesUnited States
HQ City
—
Milan
Columbus, OH
Boston, MA
Deal Date3 Mar 202527 Feb 20237 Dec 202116 Jan 2019
Valuation$4M$19M$29M$1M
EV/Revenue
EV/EBITDA

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About Ameresco

When was Ameresco founded?Ameresco was founded in 2000.
Where is Ameresco headquartered?Ameresco is headquartered in United States.
How many employees does Ameresco have?As of today, Ameresco has over 1K employees.
Who is the CEO of Ameresco?Ameresco's CEO is George P. Sakellaris.
Is Ameresco publicly listed?Yes, Ameresco is a public company listed on NYSE.
What is the stock symbol of Ameresco?Ameresco trades under AMRC ticker.
When did Ameresco go public?Ameresco went public in 2010.
Who are competitors of Ameresco?Ameresco main competitors include Lendlease, PORR, Friedrich Vorwerk Group, Orascom Construction, Wacker Neuson, Danya Cebus, SHO-BOND Holdings Co, Duerr, Cairn Homes, Implenia.
What is the current market cap of Ameresco?Ameresco's current market cap is $2B.
What is the current revenue of Ameresco?Ameresco's last 12 months revenue is $2B.
What is the current revenue growth of Ameresco?Ameresco revenue growth (NTM/LTM) is 9%.
What is the current EV/Revenue multiple of Ameresco?Current revenue multiple of Ameresco is 1.7x.
Is Ameresco profitable?Yes, Ameresco is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Ameresco?Ameresco's last 12 months EBITDA is $249M.
What is Ameresco's EBITDA margin?Ameresco's last 12 months EBITDA margin is 12%.
What is the current EV/EBITDA multiple of Ameresco?Current EBITDA multiple of Ameresco is 14.0x.
What is the current FCF of Ameresco?Ameresco's last 12 months FCF is $18M.
What is Ameresco's FCF margin?Ameresco's last 12 months FCF margin is 1%.
What is the current EV/FCF multiple of Ameresco?Current FCF multiple of Ameresco is 196.8x.
How many companies Ameresco has acquired to date?As of May 2026, Ameresco has acquired 6 companies.
What was the largest acquisition by Ameresco?$29M acquisition of Plug Smart on 7th December 2021 was the largest M&A Ameresco has done to date.
What companies Ameresco acquired?Ameresco acquired Plug Smart, Enerqos, ASA Controls, Maximum Solar, Chelsea Group Ltd., and TerraNavigator.
In how many companies Ameresco has invested to date?Ameresco hasn't invested in any companies yet (or none have been disclosed publicly).

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