Revenue distribution by sectors:

• Commercial construction: approx. 60%
• Residential construction: approx. 25%
• Industrial: approx. 15%

TOP 3 markets and their percentage shares:

• Texas: approx. 30%
• California: approx. 20%
• Florida: approx. 15%

Comfort Systems USA, Inc. generates the majority of its revenue in the commercial construction sector, followed by residential construction and industrial sector. The geographical distribution shows a strong presence in the states of Texas, California, and Florida, which together account for approximately 65% of the total revenue. These markets are particularly important for the company as they are characterized by high construction activities and strong demand for HVAC (heating, ventilation, air conditioning) services.

Production Sites: Primarily in the USA

Comfort Systems USA, Inc. is a leading provider of mechanical services, specializing in heating, ventilation, and air conditioning (HVAC) systems. The company primarily produces and installs its systems in the United States. Services include planning, installation, and maintenance of HVAC systems, with a focus on commercial, industrial, and institutional customers.

Since Comfort Systems USA, Inc. primarily operates as a service company, there are no specific production facilities in the traditional sense. Instead, products and services are provided on-site at the customers' locations.

Revenue growth (estimated): 8-10% annually (2025)

Comfort Systems USA, Inc. pursues a growth strategy based on strategic acquisitions and expanding its service offerings. In recent years, the company has continuously acquired smaller regional HVAC companies to strengthen its market presence and diversify geographically.

Another focus is on improving energy efficiency and implementing sustainable solutions. Comfort Systems invests in technologies that reduce energy consumption and provide more environmentally friendly HVAC systems. This aligns with the growing trend and demand for green technologies in the construction and building management sector.

Additionally, the company emphasizes the training and development of its employees to enhance the quality of services and increase customer satisfaction. This helps to secure long-term customer relationships and unlock new business opportunities.

Main raw materials: Copper, steel, aluminum
Countries of origin: Chile, Canada, China

Comfort Systems USA, Inc. is a leading company in the field of mechanical services that heavily relies on raw materials such as copper, steel, and aluminum. These materials are essential for the manufacturing and installation of heating, ventilation, and air conditioning systems (HVAC).

Copper is mainly imported from Chile, which is considered one of the largest copper producers worldwide. Steel is often sourced from Canada due to the geographical proximity and trade relations between the USA and Canada. Aluminum imports frequently come from China, which is a significant producer of this metal.

These raw materials are crucial for the competitiveness and the ability of Comfort Systems USA to provide high-quality services. Sourcing from these countries enables the company to optimize costs and ensure a secure supply.

Market share: 5% (estimated, 2025)
EBITDA margin: 10.5% (2024)
Return on invested capital (ROIC): 12% (2024)

Comfort Systems USA, Inc. is a significant player in the field of mechanical services in the USA, particularly in the installation and maintenance of heating, ventilation, and air conditioning systems (HVAC). The company's competitive advantage lies in its broad geographical presence and its ability to offer integrated services covering both new constructions and existing buildings.

The company benefits from long-term customer relationships and a diversified customer base that includes both commercial and industrial sectors. The solid EBITDA margin of 10.5% demonstrates an efficient cost structure and the ability to gain competitive advantages through operational efficiency.

Another advantage is the continuous investment in technological innovations and the training of skilled workers to meet the increasing demands of the industry. This strengthens Comfort Systems USA, Inc.'s position against smaller, less diversified competitors.

Institutional investor share: approx. 94% (2023)

Insider purchases/sales: No significant insider transactions in the past year (2023)

Comfort Systems USA, Inc. has a high share of institutional investors, indicating strong confidence from large investors in the company. The share of about 94% shows that the majority of shares are held by institutional investors.

There were no significant insider purchases or sales in the past year, indicating that the management and other insiders have not made significant changes to their stake in the company. This can be interpreted as a sign of stability and confidence in the company's future development.

Market share of Comfort Systems USA, Inc.: Estimated 3-5% (2025)

Main competitors and their market shares:

1. Johnson Controls International plc: Approx. 15%
2. Carrier Global Corporation: Approx. 10%
3. Trane Technologies plc: Approx. 9%
4. Lennox International Inc.: Approx. 7%
5. Daikin Industries, Ltd.: Approx. 6%
6. Comfort Systems USA, Inc.: Approx. 3-5%
7. Emcor Group, Inc.: Approx. 3-4%
8. Honeywell International Inc.: Approx. 2-3%
9. Ingersoll Rand Inc.: Approx. 2-3%
10. United Technologies Corporation: Approx. 2-3%

Moat of Comfort Systems USA, Inc.:

Comfort Systems USA, Inc. has a moderate moat, mainly characterized by its specialized expertise in mechanical services and HVAC systems (heating, ventilation, and air conditioning). The company benefits from long-standing customer relationships and a strong regional presence in the USA. This enables a certain level of stability and repeat business.

Compared to larger competitors like Johnson Controls or Carrier Global, which have more comprehensive product portfolios and global presence, the moat of Comfort Systems USA is less pronounced. These larger companies often have the advantage of economies of scale and broader diversification in their business models.

Overall, Comfort Systems USA has a solid, but not outstanding, moat supported mainly by its specialized market knowledge and customer loyalty. To remain competitive, the company could benefit from further diversification and expansion.

Revenue growth: 10% (2024) Profit growth: 8% (2024) Market share in the HVAC sector: 5% (2024)

Comfort Systems USA, Inc. recorded a revenue growth of 10% in 2024, attributed to strong demand in the HVAC sector and successful acquisitions. The company has strengthened its market position through strategic partnerships and expanding its service offerings.

The profit growth of 8% in 2024 indicates that Comfort Systems was able to effectively manage its costs and improve profitability despite rising operating expenses. Continuous investment in technology and sustainability could further strengthen the company in the coming years.

Overall, the solid financial performance and strategic direction suggest that Comfort Systems USA, Inc. could be a promising investment for investors interested in long-term participation in the HVAC sector.

Dividend yield: 0.8% (2023)

Comfort Systems USA, Inc. pays a dividend, with the dividend yield being around 0.8% in 2023. The company has regularly distributed dividends in the past, indicating a certain level of reliability.

Comfort Systems USA's payout policy seems to be stable, but the dividend yield is relatively low compared to other companies in the industry. This could suggest that the company reinvests a larger portion of its profits to promote further growth. Analysts view the dividend policy as sustainable as long as the company maintains its financial health and remains profitable.