Comfort Systems USA Inc. Common Stock (FIX) fair value
Industrials · Engineering & Construction · NYSE · United States
$1160.86-9.26%
Market cap $40.9BNext earnings 2026-10-22Updated Oct 23, 2026
Our verdict
Trades 68% above our fair value
Price
$1160.86
Model fair valueConfidence: good
$690
Model range
$438 to $1062
Fair value $690
Price $1161
3 models fit Comfort Systems USA Inc. Common Stock and they disagree: 0 of 3 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze42
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionComfort Systems USA Inc. Common Stock (FIX)
Fair value (3 models)
$690
ACCE price target
$1270
Rating
Overvalued
Horizon
12 months
Fair value published on 23 Oct 2026, 12:04 CEST; previously $1052 since 17 Oct 2026, 00:00 CEST.
ACCE price target published on 23 Oct 2026, 01:52 CEST; previously $1750 since 20 Sept 2026, 00:00 CEST.
Rating published on 23 Oct 2026, 12:04 CEST.
Price used: $1161 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
68.2% above
-40.5% to fair value
ACCE score
66
out of 100
Analysts
90% buy
10 covering
P/E
28.6x
forward 19.3x
1-year return
+40.7%
Dividend yield
0.28%
Comfort Systems USA Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Comfort Systems USA installs and maintains HVAC, plumbing, electrical, and fire suppression systems for commercial and industrial facilities, with a heavy concentration in data centers. The company has built a fragmented industry into a roll-up platform, acquiring 60+ regional contractors since 2010 and retaining their management teams to preserve local relationships and pricing power. Data center construction and retrofitting is accelerating as AI infrastructure demand outpaces supply, and Comfort Systems captures work across build-out, cooling systems, and ongoing maintenance. Revenue grew 50% year-over-year while operating margins expanded to 17.1%, driven by both organic growth and accretive acquisitions at reasonable multiples. At a forward PE of 28.5x against 55% ROE and a backlog that extends visibility into 2026, the valuation reflects the near-term tailwind but leaves room for multiple expansion if the company can sustain mid-20s operating margins as the data center cycle matures.