(CECO) CECO Environmental - Ratings and Ratios
Air Quality, Water Treatment, Emissions Control, Filtration
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 48.7% |
| Value at Risk 5%th | 71.7% |
| Relative Tail Risk | -10.54% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.45 |
| Alpha | 72.82 |
| CAGR/Max DD | 1.32 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.467 |
| Beta | 1.003 |
| Beta Downside | 0.981 |
| Drawdowns 3y | |
|---|---|
| Max DD | 47.93% |
| Mean DD | 10.72% |
| Median DD | 8.14% |
Description: CECO CECO Environmental November 13, 2025
CECO Environmental Corp. (NASDAQ: CECO) designs, manufactures and services equipment for industrial air-quality control, water-treatment and energy-transition applications across the United States, the United Kingdom, the Netherlands, China and other markets.
The business is organized into two segments – Engineered Systems and Industrial Process Solutions – that together deliver emissions-management hardware (e.g., selective catalytic reduction units, thermal oxidizers, wet/dry scrubbers), fluid-handling gear (cyclones, dust collectors, pumps), filtration and separation products, and engineered noise-control packages.
Its customer base spans natural-gas processors, refineries, power generators, semiconductor fabs, EV-battery manufacturers and other heavy-industry users that face tightening environmental regulations and rising pressure to improve energy and water efficiency.
**Key operating metrics (FY 2023):** revenue of roughly **$1.1 billion**, adjusted EBITDA margin of **≈12 %**, and a **$210 million** backlog representing about 20 % of annual sales, indicating a solid order pipeline despite a modest 3 % YoY revenue growth.
**Sector drivers:** (1) U.S. EPA and EU emissions standards are being tightened, boosting demand for SCR and scrubber solutions; (2) Global water-stress and industrial-process efficiency initiatives are expanding the market for CECO’s water-treatment packages; (3) The broader energy-transition trend, especially in hydrogen and EV-battery production, is creating new retrofit opportunities for low-carbon exhaust-treatment equipment.
Given CECO’s diversified end-markets and its exposure to regulatory tailwinds, the company’s valuation hinges on its ability to convert the growing backlog into higher-margin services revenue while maintaining disciplined capital allocation.
For a deeper, data-driven assessment of CECO’s upside potential, you may find the analyst tools on ValueRay useful for building a more granular financial model.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (51.9m TTM) > 0 and > 6% of Revenue (6% = 43.1m TTM) |
| FCFTA 0.00 (>2.0%) and ΔFCFTA -3.84pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 13.53% (prev 11.41%; Δ 2.12pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.00 (>3.0%) and CFO -2.27m <= Net Income 51.9m (YES >=105%, WARN >=100%) |
| Net Debt (-7.58m) to EBITDA (119.9m) ratio: -0.06 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.33 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (36.4m) change vs 12m ago -0.25% (target <= -2.0% for YES) |
| Gross Margin 34.88% (prev 34.43%; Δ 0.45pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 94.92% (prev 88.99%; Δ 5.93pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.90 (EBITDA TTM 119.9m / Interest Expense TTM 19.9m) >= 6 (WARN >= 3) |
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 (Balance) 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 |
| Total Rating: 1.85 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 70.41
| 1. Piotroski 5.0pt |
| 2. FCF Yield 0.01% |
| 3. FCF Margin 0.04% |
| 4. Debt/Equity 0.08 |
| 5. Debt/Ebitda -0.06 |
| 6. ROIC - WACC (= 4.52)% |
| 7. RoE 18.18% |
| 8. Rev. Trend 94.35% |
| 9. EPS Trend 23.19% |
What is the price of CECO shares?
Over the past week, the price has changed by +3.36%, over one month by +6.75%, over three months by +23.58% and over the past year by +99.03%.
Is CECO a buy, sell or hold?
- Strong Buy: 3
- Buy: 3
- Hold: 0
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the CECO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 63.2 | 2.2% |
| Analysts Target Price | 63.2 | 2.2% |
| ValueRay Target Price | 101.4 | 64.1% |
CECO Fundamental Data Overview January 10, 2026
P/E Forward = 38.1679
P/S = 3.0165
P/B = 6.7857
P/EG = 1.4433
Beta = 1.386
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 = 2.16b USD (2.17b + 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 2.16b / FCF TTM 292.0k)
FCF Yield = 0.01% (FCF TTM 292.0k / Enterprise Value 2.16b)
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 = 2.42 (Enterprise Value 2.16b / 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 = 9.68% (E(2.17b)/V(2.19b) * Re(9.61%) + D(25.2m)/V(2.19b) * Rd(20.05%) * (1-Tc(0.21)))
Discount Rate = 9.61% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 81.65 | Cagr: 0.99%
[DCF Debug] Terminal Value 73.04% ; FCFF base≈9.79m ; Y1≈10.3m ; Y5≈12.0m
Fair Price DCF = 4.63 (EV 157.5m - Net Debt -7.58m = Equity 165.1m / Shares 35.6m; r=9.68% [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%
Additional Sources for CECO Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle