Energy Services Of America Corp ESOA

EnergyConstruction & EngineeringUnited States of America

Last close 9.03 USD on Nov 2, 2026, +11.4% year to date

Quant rating

Quant rating C Rank 90 of 167 in Energy

Growth A 13 of 167
Valuation B 60 of 167
Quality B 63 of 167
Revisions C 73 of 167
Momentum D 141 of 167

Wall Street consensus Buy (1.67)Average target 25.00 USD +176.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 168M
Enterprise value: 199M
52-week range: 7.84 – 19.94
3-year range: 3.50 – 19.94
Dividend yield: 1.70%
Beta (5 years): 1.09
Shares outstanding: 18.7M
Next earnings: Dec 14, 2026

About the company

Energy Services of America Corporation is a contractor and service company. The Company operates primarily in the mid-Atlantic and central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. For the gas industry, the Company is primarily engaged in the construction, replacement and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. For the oil industry, the Company provides a variety of services relating to pipeline, storage facilities and plant work. For the power, chemical, and automotive industries, it provides a full range of electrical and mechanical installations and repairs. Its other pipeline services include corrosion protection services, horizontal drilling services, and others. It has also added the ability to install broadband and solar electric systems and perform civil and general contracting services.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	411	352	304	198	122	–
Revenue growth	16.8%	15.7%	53.9%	61.3%	2.7%	28.1%
EPS (basic, normalized)	0.02	1.51	0.44	–	–	–
EPS growth	−98.7%	243.2%	–	–	–	–
Gross margin	9.4%	14.2%	12.1%	11.3%	10.6%	11.5%
Net margin	0.1%	7.1%	2.4%	1.9%	−1.0%	2.1%
ROE	0.6%	53.8%	23.6%	14.2%	−3.5%	17.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	14.7
Current ratio	1.50x
Long-term debt (mil)	25.8
Net debt (mil)	30.7
Total equity (mil)	84.1
Net debt / equity	0.36x
Net debt / EBITDA	1.78x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	411	+16.8%	0.5x	17.2	−22.2%	11.5x	0.02	−98.7%	451.5x
2026	474	+15.3%	0.4x	30.8	+78.4%	6.5x	0.57	+2,733.3%	15.9x
2027	506	+6.7%	0.4x	38.1	+23.8%	5.2x	0.84	+47.6%	10.8x
2028	538	+6.5%	0.4x	44.4	+16.4%	4.5x	1.15	+37.4%	7.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	474	0.0%	+4.4%	+7.7%	0.57	−4.0%	−12.8%	−0.6%
2027	506	+0.5%	+3.0%	+10.7%	0.84	+0.4%	+1.4%	−4.9%
2028	538	+0.7%	+7.6%	+11.9%	1.15	+0.9%	−2.5%	+10.6%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	71.1	85.9	105	101	76.7	104	130	114	93.2	130
Sales mean (mil)	73.4	91.2	94.5	85.3	80.0	88.0	109	97.7	80.9	113
Surprise	−3.1%	−5.8%	+10.7%	+18.0%	−4.2%	+17.7%	+19.1%	+16.8%	+15.2%	+15.4%
EPS reported	−0.07	0.11	0.40	0.05	−0.41	0.12	0.25	0.16	0.01	0.18
EPS mean	0.09	0.10	0.12	0.10	0.10	0.12	0.38	0.09	−0.16	0.17
Surprise	−177.8%	+10.0%	+233.3%	−50.0%	−510.0%	0.0%	−34.2%	+77.8%	−106.2%	+5.9%

Peer comparison Construction & Engineering

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ESOA Energy Services Of America Corp	168M	1.78x	0.1%	2.00x	15.9x	10.8x	6.5x	5.2x
LMB Limbach Holdings Inc	560M	0.28x	6.0%	2.75x	14.6x	11.5x	7.3x	6.2x
Mean		1.03x	3.1%	2.38x	15.3x	11.1x	6.9x	5.7x
Median		1.03x	3.1%	2.38x	15.3x	11.1x	6.9x	5.7x

Technical analysis

1M−18.0%
3M−37.0%
1Y−16.6%
3Y+96.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Energy Services Of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	411	352	304	198	122	119
Cost of revenue	372	302	267	175	110	106
Gross profit	38.8	50.0	36.8	22.4	12.9	13.5
Selling, general & administrative expenses	34.6	30.1	23.8	15.9	14.0	9.8
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	−15.6	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	4.2	35.5	13.0	6.5	−1.1	3.7
Net interest income (expense)	−3.2	−2.2	−2.4	−1.0	−0.4	−0.4
Gain (loss) on sale of assets	0.1	0.3	0	0.8	0.7	0.6
Other non-operating income (expense)	−0.2	0	−0.3	−0.2	−0.1	−0.2
Net income before taxes	0.9	33.5	10.4	6.0	−0.9	3.6
Provision for taxes	0.5	8.4	3.0	2.3	0	1.1
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	0.4	25.1	7.4	3.8	−0.9	2.4
Extraordinary items	–	–	–	–	–	–
Net income	0.4	25.1	7.4	3.8	−0.9	2.4
EBIT, normalized	4.2	19.8	13.0	6.5	−1.1	3.7
EBITDA, normalized	17.3	28.8	20.8	12.6	3.8	8.1
Basic EPS, normalized	0.02	1.51	0.44	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Energy Services Of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	12.2	12.9	16.4	7.4	8.2	11.2
Receivables	128	93.4	75.2	59.0	31.2	27.2
Total inventory	–	–	–	–	–	–
Prepaid expenses	5.0	4.1	3.5	3.9	3.5	3.3
Other current assets	0	0	0	0	0	0
Total current assets	145	110	95.2	70.4	43.0	41.8
Property, plant & equipment	55.5	40.7	39.9	34.3	23.0	16.4
Goodwill	9.9	4.1	4.1	4.1	1.8	–
Intangibles	4.9	3.1	3.4	3.9	2.4	–
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	0	0	0	0	0	0
Total assets	215	158	143	113	70.2	58.2
Liabilities
Accounts payable	30.7	23.7	22.0	20.3	7.3	5.2
Payable/accrued	–	–	–	–	–	–
Accrued expenses	17.0	14.8	14.2	11.9	5.6	4.2
Short-term debt	10.4	10.3	19.8	23.2	15.0	0.5
Current portion of long-term debt	11.5	6.4	6.1	4.1	3.4	4.0
Other current liabilities	28.3	19.1	17.7	6.0	3.2	4.9
Total current liabilities	98.0	74.2	79.9	65.4	34.5	18.9
Long-term debt	50.3	17.2	18.9	13.5	9.0	11.2
Minority interest	–	–	–	–	–	–
Other liabilities	7.7	8.1	9.1	5.5	2.0	2.3
Total liabilities	156	99.6	108	84.4	45.5	32.3
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	62.5	60.3	60.3	60.5	60.7	60.7
Retained earnings (accumulated deficit)	−3.2	−1.6	−25.7	−32.3	−36.0	−34.8
Treasury stock	0	0	0	0	0	0
Other equity	0	0	0	0	0	0
Total equity	59.2	58.7	34.6	28.2	24.7	25.8
Total liabilities & shareholders' equity	215	158	143	113	70.2	58.2

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Energy Services Of America Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	0.4	25.1	7.4	3.8	9.1	2.4
Depreciation, depletion & amortization	13.0	9.0	7.8	6.1	4.9	4.4
Deferred taxes	0.3	−0.4	2.4	2.4	0.2	0.3
Non-cash items	0.6	0.6	0.1	−0.3	−10.5	−0.6
Changes in working capital	−10.1	−15.7	3.3	−3.7	−2.9	8.4
Cash from operations	4.1	18.7	21.1	8.3	0.8	15.0
Investing activities
Capital expenditures	−6.4	−8.8	−10.8	−5.3	−6.0	−3.5
Other investing cash flows	−23.1	0.8	0.6	−3.0	−2.6	0.8
Cash from investing	−29.4	−8.0	−10.2	−8.3	−8.7	−2.8
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−1.5	−1.0	−0.8	0	−0.3	−1.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	26.1	−13.2	−1.1	−0.8	5.2	−4.6
Cash from financing	24.6	−14.2	−1.9	−0.8	4.9	−5.6
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−0.7	−3.5	9.0	−0.8	−3.0	6.6
Free cash flow	−2.2	9.9	10.2	3.0	−5.2	11.5

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.