IESC vs. EME

Last updated Jun 9, 2026

IESC (IES Holdings, Inc.) and EME (EMCOR Group, Inc.) are both stocks. Both operate in the Engineering & Construction industry within the Industrials sector. Over the past 10 years, IESC returned 48.95%/yr vs 33.38%/yr for EME. At a 0.33 correlation, their price movements are largely independent.

Performance

IESC vs. EME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IES Holdings, Inc. (IESC) and EMCOR Group, Inc. (EME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IESC achieves a 88.91% return, which is significantly higher than EME's 34.80% return. Over the past 10 years, IESC has outperformed EME with an annualized return of 48.95%, while EME has yielded a comparatively lower 33.38% annualized return.

IESC

• 1D: 1.97%
• 1M: 10.23%
• YTD: 88.91%
• 6M: 66.06%
• 1Y: 162.49%
• 3Y*: 140.27%
• 5Y*: 69.06%
• 10Y*: 48.95%

EME

• 1D: 0.78%
• 1M: -10.62%
• YTD: 34.80%
• 6M: 31.07%
• 1Y: 68.85%
• 3Y*: 68.15%
• 5Y*: 45.66%
• 10Y*: 33.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IESC vs. EME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESC IES Holdings, Inc.	88.91%	93.58%	153.67%	122.72%	-29.76%	9.99%	79.42%	65.02%	-9.86%	-9.92%
EME EMCOR Group, Inc.	34.80%	35.05%	111.27%	46.03%	16.81%	39.93%	6.47%	45.18%	-26.68%	16.09%

Correlation

The correlation between IESC and EME is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 29, 1998	0.33

Over the past year, IESC and EME have become more correlated (0.72) than their long-term average of 0.33, meaning their price movements have been converging.

Fundamentals

Market Cap IESC : $14.83B EME : $37.11B
EPS IESC : $18.85 EME : $29.65
PE Ratio IESC : 38.98 EME : 27.79
PEG Ratio IESC : 0.47 EME : 0.65
PS Ratio IESC : 4.08 EME : 2.09
PB Ratio IESC : 13.83 EME : 9.60
Total Revenue (TTM) IESC : $3.63B EME : $17.75B
Gross Profit (TTM) IESC : $931.31M EME : $3.47B
EBITDA (TTM) IESC : $487.14M EME : $2.03B

Return for Risk

IESC vs. EME — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IESC

IESC Risk / Return Rank: 92
IESC Sharpe Ratio Rank: 94
IESC Sortino Ratio Rank: 88
IESC Omega Ratio Rank: 88
IESC Calmar Ratio Rank: 96
IESC Martin Ratio Rank: 96

EME

EME Risk / Return Rank: 83
EME Sharpe Ratio Rank: 87
EME Sortino Ratio Rank: 80
EME Omega Ratio Rank: 84
EME Calmar Ratio Rank: 82
EME Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IESC vs. EME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IES Holdings, Inc. (IESC) and EMCOR Group, Inc. (EME). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IESC	EME	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.82	+0.82
Sortino ratio: Return per unit of downside risk	2.84	2.24	+0.60
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.05
Calmar ratio: Return relative to maximum drawdown	7.50	2.75	+4.75
Martin ratio: Return relative to average drawdown	21.33	6.90	+14.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IESC vs. EME - Sharpe Ratio Comparison

The current IESC Sharpe Ratio is 2.64, which is higher than the EME Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of IESC and EME, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IESC	EME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.82	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	1.38	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.02	1.02	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.60	-0.55

Drawdowns

IESC vs. EME - Drawdown Comparison

The maximum IESC drawdown since its inception was -98.32%, which is greater than EME's maximum drawdown of -70.56%. Use the drawdown chart below to compare losses from any high point for IESC and EME.

Drawdown Indicators

	IESC	EME	Difference
Max Drawdown Largest peak-to-trough decline	-98.32%	-70.56%	-27.76%
Max Drawdown (1Y) Largest decline over 1 year	-21.80%	-25.15%	+3.35%
Max Drawdown (3Y) Largest decline over 3 years	-49.23%	-36.19%	-13.04%
Max Drawdown (5Y) Largest decline over 5 years	-54.22%	-36.19%	-18.03%
Max Drawdown (10Y) Largest decline over 10 years	-54.28%	-48.00%	-6.28%
Current Drawdown Current decline from peak	-0.97%	-12.71%	+11.74%
Average Drawdown Average peak-to-trough decline	-55.01%	-15.36%	-39.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.66%	10.02%	-2.36%

Volatility

IESC vs. EME - Volatility Comparison

IES Holdings, Inc. (IESC) has a higher volatility of 11.77% compared to EMCOR Group, Inc. (EME) at 7.08%. This indicates that IESC's price experiences larger fluctuations and is considered to be riskier than EME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IESC	EME	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	7.08%	+4.69%
Volatility (6M) Calculated over the trailing 6-month period	49.79%	25.46%	+24.33%
Volatility (1Y) Calculated over the trailing 1-year period	62.06%	38.11%	+23.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.94%	33.30%	+20.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.10%	32.97%	+15.13%

Dividends

IESC vs. EME - Dividend Comparison

IESC has not paid dividends to shareholders, while EME's dividend yield for the trailing twelve months is around 0.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EME EMCOR Group, Inc.	0.16%	0.16%	0.20%	0.32%	0.36%	0.41%	0.35%	0.37%	0.54%	0.39%	0.45%	0.67%
IESC IES Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

IESC vs. EME - Profitability Comparison

The chart below illustrates the profitability comparison between IES Holdings, Inc. and EMCOR Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

IESC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a gross profit of 238.70M and revenue of 974.20M. Therefore, the gross margin over that period was 24.5%.

EME - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported a gross profit of 863.95M and revenue of 4.63B. Therefore, the gross margin over that period was 18.7%.

IESC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported an operating income of 112.30M and revenue of 974.20M, resulting in an operating margin of 11.5%.

EME - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported an operating income of 403.85M and revenue of 4.63B, resulting in an operating margin of 8.7%.

IESC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a net income of 110.00M and revenue of 974.20M, resulting in a net margin of 11.3%.

EME - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported a net income of 305.48M and revenue of 4.63B, resulting in a net margin of 6.6%.

Frequently Asked Questions

Can I hold both IESC and EME in my portfolio?

IESC and EME have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IESC or EME?

IESC has higher volatility (11.77%) compared to EME (7.08%). In terms of maximum drawdown, IESC dropped -98.32% vs EME's -70.56%.

Which has better risk-adjusted returns?

IESC currently has the higher Sharpe Ratio (2.64 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.