(CECO) CECO Environmental - Overview
Stock: Air Treatment, Water Treatment, Energy Transition, Filtration, Industrial Noise
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 51.0% |
| Relative Tail Risk | -9.61% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.98 |
| Alpha | 137.18 |
| Character TTM | |
|---|---|
| Beta | 1.026 |
| Beta Downside | 0.925 |
| Drawdowns 3y | |
|---|---|
| Max DD | 47.93% |
| CAGR/Max DD | 1.53 |
Description: CECO CECO Environmental January 16, 2026
CECO Environmental Corp. (NASDAQ: CECO) delivers engineered systems for industrial air-quality, water-treatment, and energy-transition applications across North America, Europe, and Asia. Its two operating segments-Engineered Systems and Industrial Process Solutions-sell a breadth of hardware (e.g., selective catalytic reduction units, thermal oxidizers, cyclones, scrubbers) and services (design-build, noise-control, plant engineering) to customers such as natural-gas processors, refineries, power generators, semiconductor fabs, and EV-battery manufacturers.
Key financial metrics show a FY 2023 revenue of roughly $1.2 billion, with an adjusted EBITDA margin of ~12% and free cash flow of $80 million, supporting a healthy order backlog of about $1.5 billion that underpins near-term demand. The business benefits from macro-drivers including tighter U.S. EPA emissions standards, rising global water-scarcity concerns, and the $1.2 trillion U.S. infrastructure bill that allocates significant spending to clean-energy and water-infrastructure projects.
Sector-level trends-such as the accelerating shift toward low-carbon industrial processes and the growing need for high-purity water in semiconductor and EV battery production-provide tailwinds for CECO’s product portfolio, while its diversified geographic footprint helps mitigate regional regulatory risk.
For a deeper quantitative dive, see the CECO profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 51.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -3.84 > 1.0 |
| NWC/Revenue: 13.53% < 20% (prev 11.41%; Δ 2.12% < -1%) |
| CFO/TA -0.00 > 3% & CFO -2.27m > Net Income 51.9m |
| Net Debt (-7.58m) to EBITDA (119.9m): -0.06 < 3 |
| Current Ratio: 1.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.4m) vs 12m ago -0.25% < -2% |
| Gross Margin: 34.88% > 18% (prev 0.34%; Δ 3454 % > 0.5%) |
| Asset Turnover: 94.92% > 50% (prev 88.99%; Δ 5.93% > 0%) |
| Interest Coverage Ratio: 4.90 > 6 (EBITDA TTM 119.9m / Interest Expense TTM 19.9m) |
Altman Z'' 1.85
| A: 0.11 (Total Current Assets 395.5m - Total Current Liabilities 298.3m) / Total Assets 891.9m |
| B: 0.06 (Retained Earnings 53.6m / Total Assets 891.9m) |
| C: 0.13 (EBIT TTM 97.3m / Avg Total Assets 756.7m) |
| D: 0.08 (Book Value of Equity 43.4m / Total Liabilities 578.3m) |
| Altman-Z'' Score: 1.85 = BBB |
Beneish M -2.56
| DSRI: 1.23 (Receivables 269.4m/168.6m, Revenue 718.3m/553.1m) |
| GMI: 0.99 (GM 34.88% / 34.43%) |
| AQI: 1.02 (AQ_t 0.47 / AQ_t-1 0.46) |
| SGI: 1.30 (Revenue 718.3m / 553.1m) |
| TATA: 0.06 (NI 51.9m - CFO -2.27m) / TA 891.9m) |
| Beneish M-Score: -2.56 (Cap -4..+1) = A |
What is the price of CECO shares?
Over the past week, the price has changed by +7.33%, over one month by +22.06%, over three months by +34.97% and over the past year by +154.20%.
Is CECO a buy, sell or hold?
- StrongBuy: 3
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CECO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 64 | -11.6% |
| Analysts Target Price | 64 | -11.6% |
| ValueRay Target Price | 118.6 | 63.9% |
CECO Fundamental Data Overview January 31, 2026
P/E Forward = 45.2489
P/S = 3.48
P/B = 8.0156
P/EG = 1.4433
Revenue TTM = 718.3m USD
EBIT TTM = 97.3m USD
EBITDA TTM = 119.9m USD
Long Term Debt = 219.0m USD (from longTermDebt, last quarter)
Short Term Debt = 1.93m USD (from shortTermDebt, last quarter)
Debt = 25.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -7.58m USD (from netDebt column, last quarter)
Enterprise Value = 2.49b USD (2.50b + Debt 25.2m - CCE 32.8m)
Interest Coverage Ratio = 4.90 (Ebit TTM 97.3m / Interest Expense TTM 19.9m)
EV/FCF = 1000.0x (Enterprise Value 2.49b / FCF TTM 292.0k)
FCF Yield = 0.01% (FCF TTM 292.0k / Enterprise Value 2.49b)
FCF Margin = 0.04% (FCF TTM 292.0k / Revenue TTM 718.3m)
Net Margin = 7.22% (Net Income TTM 51.9m / Revenue TTM 718.3m)
Gross Margin = 34.88% ((Revenue TTM 718.3m - Cost of Revenue TTM 467.7m) / Revenue TTM)
Gross Margin QoQ = 32.68% (prev 36.20%)
Tobins Q-Ratio = 2.79 (Enterprise Value 2.49b / Total Assets 891.9m)
Interest Expense / Debt = 20.05% (Interest Expense 5.05m / Debt 25.2m)
Taxrate = 21.09% (483.0k / 2.29m)
NOPAT = 76.8m (EBIT 97.3m * (1 - 21.09%))
Current Ratio = 1.33 (Total Current Assets 395.5m / Total Current Liabilities 298.3m)
Debt / Equity = 0.08 (Debt 25.2m / totalStockholderEquity, last quarter 309.2m)
Debt / EBITDA = -0.06 (Net Debt -7.58m / EBITDA 119.9m)
Debt / FCF = -25.95 (Net Debt -7.58m / FCF TTM 292.0k)
Total Stockholder Equity = 285.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.85% (Net Income 51.9m / Total Assets 891.9m)
RoE = 18.18% (Net Income TTM 51.9m / Total Stockholder Equity 285.3m)
RoCE = 19.30% (EBIT 97.3m / Capital Employed (Equity 285.3m + L.T.Debt 219.0m))
RoIC = 14.20% (NOPAT 76.8m / Invested Capital 540.8m)
WACC = 9.76% (E(2.50b)/V(2.52b) * Re(9.70%) + D(25.2m)/V(2.52b) * Rd(20.05%) * (1-Tc(0.21)))
Discount Rate = 9.70% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 81.65 | Cagr: 0.99%
[DCF Debug] Terminal Value 72.78% ; FCFF base≈9.79m ; Y1≈10.3m ; Y5≈12.0m
Fair Price DCF = 4.58 (EV 155.7m - Net Debt -7.58m = Equity 163.2m / Shares 35.6m; r=9.76% [WACC]; 5y FCF grow 5.53% → 2.90% )
EPS Correlation: 23.19 | EPS CAGR: -42.57% | SUE: -1.33 | # QB: 0
Revenue Correlation: 94.35 | Revenue CAGR: 22.05% | SUE: 0.51 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.17 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=5
EPS next Year (2026-12-31): EPS=1.48 | Chg30d=+0.000 | Revisions Net=+3 | Growth EPS=+47.6% | Growth Revenue=+14.9%