Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Comfort Systems Usa Inc (FIX)

A forensic read on Comfort Systems Usa Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

16.0

Distress distance

Clean

Earnings quality

Forensic signals

41.8

P / E (ttm)

41.8%

ROE

$59.5B

Market cap

0.21%

Dividend yield

29.5%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Comfort Systems Usa Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 16.0, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+27.4%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +27.4% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +42% against +24% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 12% of net operating assets, diverging from the balance-sheet accrual read.

Key fundamentals

Latest Revenue$9.10B

Revenue Growth YoY+29.5%

Revenue CAGR (3yr)+30.0%

Net Margin11.2%

Free Cash Flow$1.03B

Return on Equity41.8%

Debt / Equity0.06x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.