CECO Environmental Corp. (CECO) Key Metrics
CECO valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $3.32B
- Enterprise value
- $5.10B
- P/E (TTM)
- — 10-yr median 43.8
- Forward P/E
- 26.2
- PEG ratio
- 1.44
- Price / sales
- 3.7 10-yr median 0.9
- Price / book
- 2.0 10-yr median 1.7
- EV / EBITDA
- 233.4 10-yr median 12.2
- Dividend yield
- —
- Beta
- 1.50
CECO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCECO valuation Price multiples at each fiscal year-end price.
P/E ratio−47.4%
43.8
2025 · hover or tap a bar for each year
20162025
Price / sales+46.3%
2.8
2025 · hover or tap a bar for each year
20162025
Price / book+58.4%
6.9
2025 · hover or tap a bar for each year
20162025
EV / EBITDA−40.6%
17.0
2025 · hover or tap a bar for each year
20162025
Free cash flow yield−0.9 pts
−0.3%
2025 · hover or tap a bar for each year
20162025
CECO returns How much profit the business earns on the capital it uses.
Return on equity+12.3 pts
17.7%
2025 · hover or tap a bar for each year
20162025
Return on invested capital+1.3 pts
8.6%
2025 · hover or tap a bar for each year
20162025
Return on assets+4.1 pts
6.1%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−2.0 pts
−0.7%
2025 · hover or tap a bar for each year
20162025
Cash conversion (OCF / net income)−93.9%
0.12
2025 · hover or tap a bar for each year
20162025
Asset turnover+14.2%
0.94
2025 · hover or tap a bar for each year
20162025
CECO per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+35.3%
$21.16
2025 · hover or tap a bar for each year
20162025
Earnings per share+276.6%
$1.37
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
−$0.15
2025 · hover or tap a bar for each year
20162025
Book value per share+25.0%
$8.67
2025 · hover or tap a bar for each year
20162025
Shares outstanding+2.6%
36.6M
2025 · hover or tap a bar for each year
20162025
CECO financial health Debt, liquidity and how easily interest is covered.
Debt / equity−92.2%
0.08
2025 · hover or tap a bar for each year
20162025
Net debt−$220.4M
−$8.3M
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA−4.75
−0.06
2025 · hover or tap a bar for each year
20162025
Current ratio−0.9%
1.34
2025 · hover or tap a bar for each year
20162025
Interest coverage−9.1%
2.5
2025 · hover or tap a bar for each year
20162025
Debt / assets−91.6%
0.03
2025 · hover or tap a bar for each year
20162025
CECO efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−12 days
122 days
2025 · hover or tap a bar for each year
20162025
Days of inventory−5 days
34 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−20 days
80 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+3 days
76 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−1.6 pts
1.5%
2025 · hover or tap a bar for each year
20162025
CECO valuation history
Fiscal year-endToday10-year median
CECO returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CECO debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CECO cash returned to shareholders
DividendsBuybacksFree cash flow
CECO price vs earnings per share
Share price at year-endEPS (right axis)
CECO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.19B | $1.08B | $716.6M | $408.9M | $221.8M | $247.2M | $271.8M | $234.3M | $176.7M | $474.0M |
| Enterprise value | $2.18B | $1.29B | $817.3M | $486.9M | $267.4M | $301.0M | $321.9M | $266.8M | $266.9M | $556.7M |
| P/E ratio | 43.8 | 83.3 | 55.5 | 23.5 | 155.5 | 30.1 | 15.4 | — | — | — |
| Price / sales | 2.8 | 1.9 | 1.3 | 1.0 | 0.7 | 0.8 | 0.8 | 0.7 | 0.5 | 1.1 |
| Price / book | 6.9 | 4.4 | 3.1 | 1.9 | 1.1 | 1.2 | 1.4 | 1.3 | 0.9 | 2.5 |
| Price / free cash flow | — | 144.6 | 19.8 | 15.6 | 20.8 | 519.4 | 59.5 | 12.4 | 31.9 | 6.9 |
| Price / operating cash flow | 373.8 | 43.5 | 16.0 | 13.8 | 16.7 | 55.9 | 26.6 | 10.7 | 26.9 | 6.8 |
| EV / sales | 2.8 | 2.3 | 1.5 | 1.2 | 0.8 | 1.0 | 0.9 | 0.8 | 0.8 | 1.3 |
| EV / EBITDA | 17.0 | 28.5 | 17.2 | 12.7 | 12.2 | 11.9 | 11.0 | 11.7 | 10.0 | — |
| EV / free cash flow | — | 173.0 | 22.5 | 18.5 | 25.0 | 632.3 | 70.4 | 14.1 | 48.2 | 8.1 |
| Earnings yield | 2.3% | 1.2% | 1.8% | 4.3% | 0.6% | 3.3% | 6.5% | −3.0% | −1.7% | −8.1% |
| Free cash flow yield | −0.3% | 0.7% | 5.1% | 6.4% | 4.8% | 0.2% | 1.7% | 8.0% | 3.1% | 14.5% |
| Dividend yield | — | — | — | 0.2% | 0.1% | — | — | 0.0% | 4.4% | 1.9% |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.5% | 0.0% | 1.9% | 2.4% | 0.0% | — | 13.8% | 14.7% | 1.9% |
| Share price at fiscal year-end | $59.85 | $30.23 | $20.28 | $11.68 | $6.23 | $6.96 | $7.66 | $6.75 | $5.13 | $13.95 |
| Per share | ||||||||||
| Revenue per share | $21.16 | $15.63 | $15.42 | $12.07 | $9.11 | $8.90 | $9.63 | $9.72 | $10.02 | $12.27 |
| Earnings per share | $1.37 | $0.36 | $0.37 | $0.50 | $0.04 | $0.23 | $0.50 | −$0.21 | −$0.09 | −$1.12 |
| Operating cash flow per share | $0.16 | $0.70 | $1.26 | $0.85 | $0.37 | $0.12 | $0.29 | $0.63 | $0.19 | $2.05 |
| Free cash flow per share | −$0.15 | $0.21 | $1.03 | $0.75 | $0.30 | $0.01 | $0.13 | $0.54 | $0.16 | $2.02 |
| Cash per share | $0.91 | $1.06 | $1.55 | $1.30 | $0.84 | $1.06 | $1.04 | $1.26 | $0.87 | $1.35 |
| Book value per share | $8.67 | $6.94 | $6.58 | $6.09 | $5.75 | $5.71 | $5.44 | $5.14 | $5.42 | $5.59 |
| Tangible book value per share | −$1.85 | −$2.69 | −$1.10 | −$0.42 | $0.22 | −$0.05 | −$0.13 | −$0.80 | −$1.45 | −$1.85 |
| Dividends per share | — | — | — | $0.02 | $0.01 | — | — | $0.00 | $0.23 | $0.26 |
| Capex per share | $0.31 | $0.49 | $0.24 | $0.10 | $0.07 | $0.11 | $0.16 | $0.09 | $0.03 | $0.03 |
| Debt per share | $0.68 | $7.00 | $4.40 | $3.53 | $2.12 | $2.58 | $2.45 | $2.19 | $3.49 | $3.78 |
| Shares outstanding | 36.6M | 35.7M | 35.3M | 35.0M | 35.6M | 35.5M | 35.5M | 34.7M | 34.4M | 34.0M |
| Change in shares outstanding | +2.6% | +1.0% | +0.9% | −1.7% | +0.2% | +0.1% | +2.2% | +0.8% | +1.4% | +18.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.7% | 5.4% | 5.8% | 8.3% | 0.7% | 4.2% | 9.5% | −3.9% | −1.6% | −17.8% |
| Return on invested capital (ROIC) | 8.6% | 7.3% | 7.5% | 6.3% | 1.9% | 3.7% | 7.9% | 2.1% | 1.5% | −6.2% |
| Return on assets (ROA) | 6.1% | 1.9% | 2.3% | 3.8% | 0.3% | 1.9% | 4.4% | −1.7% | −0.6% | −7.0% |
| Return on tangible assets | 9.8% | 3.1% | 3.9% | 6.3% | 0.6% | 3.7% | 8.2% | −3.8% | −1.5% | −15.6% |
| Free cash flow margin | −0.7% | 1.3% | 6.7% | 6.2% | 3.3% | 0.2% | 1.3% | 5.6% | 1.6% | 16.4% |
| Income quality (OCF / net income) | 0.12 | 1.92 | 3.46 | 1.70 | 9.33 | 0.54 | 0.58 | — | — | — |
| Financial health | ||||||||||
| Total debt | $24.8M | $249.9M | $155.5M | $123.5M | $75.6M | $91.5M | $87.1M | $76.2M | $120.1M | $128.5M |
| Cash & short-term investments | $33.1M | $37.8M | $54.8M | $45.5M | $29.9M | $37.8M | $37.0M | $43.7M | $29.9M | $45.8M |
| Net debt | −$8.3M | $212.1M | $100.7M | $78.0M | $45.7M | $53.7M | $50.1M | $32.5M | $90.2M | $82.7M |
| Debt / equity | 0.08 | 1.01 | 0.67 | 0.58 | 0.37 | 0.45 | 0.45 | 0.43 | 0.64 | 0.68 |
| Debt / assets | 0.03 | 0.33 | 0.26 | 0.24 | 0.18 | 0.21 | 0.21 | 0.19 | 0.27 | 0.26 |
| Net debt / EBITDA | −0.06 | 4.69 | 2.12 | 2.04 | 2.09 | 2.12 | 1.71 | 1.43 | 3.40 | — |
| Current ratio | 1.34 | 1.35 | 1.39 | 1.64 | 1.62 | 1.68 | 1.56 | 1.55 | 1.61 | 1.46 |
| Quick ratio | 1.16 | 1.18 | 1.22 | 1.46 | 1.47 | 1.52 | 1.38 | 1.35 | 1.42 | 1.31 |
| Interest coverage | 2.5 | 2.7 | 2.6 | 4.1 | 3.3 | 3.8 | 3.3 | 1.4 | 1.2 | -3.3 |
| Working capital | $104.4M | $86.3M | $78.3M | $94.0M | $72.3M | $74.1M | $64.3M | $57.0M | $66.1M | $66.6M |
| Invested capital | $309.2M | $459.8M | $333.3M | $291.2M | $250.2M | $256.4M | $243.1M | $211.0M | $276.8M | $272.8M |
| Tangible asset value | −$61.9M | −$91.9M | −$33.9M | −$9.8M | $9.3M | −$783,000 | −$4.6M | −$27.8M | −$50.0M | −$62.8M |
| Net current asset value | −$160.4M | −$176.8M | −$81.4M | −$45.9M | −$21.2M | −$42.0M | −$42.0M | −$53.2M | −$78.0M | −$95.6M |
| Graham number | $16.34 | $7.53 | $7.36 | $8.26 | $2.28 | $5.45 | $7.81 | — | — | — |
| Graham net-net per share | −$8.03 | −$7.75 | −$4.43 | −$3.21 | −$2.16 | −$2.75 | −$2.73 | −$2.82 | −$3.92 | −$4.74 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $671,000 | $230,000 | — | — | $0 | $7.8M | $9.0M |
| Share buybacks (net) | $0 | $5.0M | $0 | $7.0M | $5.0M | $0 | — | $32.4M | $18.1M | $188,000 |
| Dividend payout ratio | — | — | — | 3.9% | 16.1% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 67.0% | 0.0% | 29.3% | 49.1% | 0.0% | — | 171.7% | 467.4% | 13.4% |
| Capex / revenue | 1.5% | 3.1% | 1.5% | 0.8% | 0.8% | 1.2% | 1.7% | 0.9% | 0.3% | 0.3% |
| Capex / operating cash flow | 193.5% | 70.0% | 18.8% | 11.4% | 19.7% | 89.2% | 55.3% | 14.1% | 15.6% | 1.5% |
| Capex / depreciation | 0.46 | 1.20 | 0.67 | 0.32 | 0.27 | 0.40 | 0.53 | 0.23 | 0.06 | 0.06 |
| Stock-based compensation / revenue | 1.7% | 1.3% | 0.8% | 0.9% | 1.0% | 0.6% | 0.8% | 0.9% | 0.5% | 0.5% |
| SG&A / revenue | 25.9% | 26.3% | 22.6% | 22.1% | 25.2% | 24.3% | 25.1% | 115.8% | 117.4% | 19.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 122.1 | 133.7 | 111.7 | 121.1 | 132.3 | 122.3 | 99.4 | 100.0 | 118.0 | 114.7 |
| Days of inventory on hand | 33.8 | 38.7 | 29.6 | 27.0 | 28.1 | 32.8 | 33.2 | 33.8 | 33.4 | 32.9 |
| Days payables outstanding | 79.6 | 99.6 | 78.6 | 80.4 | 91.7 | 90.6 | 80.7 | 78.7 | 82.2 | 78.4 |
| Cash conversion cycle (days) | 76.3 | 72.8 | 62.6 | 67.8 | 68.7 | 64.5 | 51.8 | 55.1 | 69.3 | 69.3 |
| Receivables turnover | 2.99 | 2.73 | 3.27 | 3.01 | 2.76 | 2.98 | 3.67 | 3.65 | 3.09 | 3.18 |
| Payables turnover | 4.58 | 3.67 | 4.64 | 4.54 | 3.98 | 4.03 | 4.52 | 4.64 | 4.44 | 4.66 |
| Inventory turnover | 10.79 | 9.43 | 12.33 | 13.51 | 12.98 | 11.12 | 11.00 | 10.81 | 10.92 | 11.09 |
| Asset turnover | 0.94 | 0.82 | 0.99 | 0.92 | 0.77 | 0.75 | 0.85 | 0.81 | 0.74 | 0.76 |
| Average receivables | $259.0M | $204.4M | $166.7M | $140.3M | $117.5M | $105.9M | $93.1M | $92.4M | $111.6M | $131.1M |
| Average payables | $113.8M | $98.7M | $80.5M | $64.8M | $56.1M | $52.3M | $50.4M | $48.7M | $52.2M | $60.6M |
| Average inventory | $48.3M | $38.4M | $30.3M | $21.8M | $17.2M | $19.0M | $20.7M | $20.9M | $21.2M | $25.4M |
| Intangibles / total assets | 43.1% | 45.3% | 45.2% | 45.2% | 47.2% | 47.6% | 47.7% | 52.6% | 54.0% | 50.7% |
Computed from CECO's annual financial statements (latest annual report filed March 2, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CECO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CECO Environmental traded at 43.8 times earnings, against a 10-year median of 43.8. CECO Environmental earned a return on equity of 17.7% and a return on invested capital of 8.6% in fiscal 2025. It ended the year with $24.8 million of debt and $33.1 million in cash and short-term investments, a net cash position of $8.3 million. The share count rose 7.7% from 34.0M to 36.6M over 9 years.
See the CECO income statement, the CECO chart for price history, or the CECO stock overview for the latest quote and news.
CECO key metrics FAQ
What is CECO Environmental's P/E ratio?
CECO Environmental traded at 43.8 times earnings at the end of fiscal 2025.
What is CECO Environmental's EV/EBITDA?
CECO Environmental's enterprise value was 17.0 times EBITDA at the end of fiscal 2025 (enterprise value $2.2 billion, EBITDA $128.6 million); the current EV/EBITDA is 233.4.
What is CECO Environmental's return on equity?
CECO Environmental's return on equity (ROE) was 17.7% in fiscal 2025: net income of $50.1 million on average shareholders' equity of $282.6 million.
What is CECO Environmental's ROIC?
CECO Environmental's return on invested capital was 8.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CECO Environmental have?
CECO Environmental had total debt of $24.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.08 and more cash than debt.
What is CECO Environmental's free cash flow yield?
CECO Environmental generated -$5.5 million of free cash flow in fiscal 2025, a free cash flow yield of −0.3% on its market value at year-end ($2.2 billion).
What is CECO Environmental's current ratio?
CECO Environmental's current ratio was 1.34 at the end of fiscal 2025: current assets were 1.34 times current liabilities.