On this page of StockholderLetter.com we present the latest annual shareholder letter from COMFORT SYSTEMS USA INC — ticker symbol FIX. Reading current and past FIX letters to shareholders can bring important insights into the investment thesis.

 •  4/9/2026 Letter Continued (Full PDF)
 •  4/6/2023 FIX Stockholder Letter
 •  4/8/2024 FIX Stockholder Letter
 •  4/7/2025 FIX Stockholder Letter
 •  More "Construction" Category Stockholder Letters
 •  FIX Benford's Law Stock Score = 91

FIX Shareholder/Stockholder Letter Transcript:

COMFORT SYSTEMS USA
20
ANNUAL 25
REPORT
QUALITY PEOPLE | BUILDING SOLUTIONS

W H E R E W E O P E R AT E
COMFORT SYSTEMS USA is a leading provider of commercial, industrial, and institu-
tional heating, ventilation, air conditioning, electrical, and modular contracting services.
2025 PERFORMANCE HIGHLIGHTS
The following summarizes the Company   s key financial and business results for 2025.
REVENUE
BAC KLO G
$ 9 .1 0 B
$ 1 1 . 94 B
NET INCOME
EPS
( P E R D I LU T E D S H A R E )
$ 1 .0 2 B
$28.88
O P E R AT I N G C A S H F L O W
FREE CASH FLOW
$1.19B
$1.04B

COMFORT SYSTEMS USA > 2025 ANNUAL REPORT >
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< COMFORT SYSTEMS USA < 2025 ANNUAL REPORT

DEAR FELLOW
SHAREHOLDERS
2025 was the best year ever for the people
who make Comfort Systems USA great, for
the customers who invest in our unmatched
building solutions, and for the companies who
trust their legacy to Comfort Systems USA.
2025 was also a year of great results for you,
our owners, who have shown your trust by
investing in us for your future. Our teams
across the United States achieved unmatched
results that exceeded even the amazing results
we have achieved over our past few years of
rapid growth in revenue and profitability.
COMFORT SYSTEMS USA > 2025 ANNUAL REPORT >
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4/9/2026 Letter Continued (Full PDF)

 

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