Ameresco, Inc.
AMRC · Construction - Special Trade Contractors · 53.3M shares · +3%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$15M (gross $6K, SBC $15M)
Reference price $36.12 · est. market cap ~$1.9B — last insider sale, 2026-05-29 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C69Growing energy-infrastructure provider with above-median sector returns but thin absolute profitability.
Strengths
- Above-median sector profitability — net margin 78.6th pct, operating margin 71.4th pct, ROA 78.6th pct
- Revenue up 9% with strong Europe growth (+111%) and positive FCF ($113M, 70th pct)
Risks
- Low absolute returns (ROE 5.6%) and thin gross margin (14.5%, 28.6th pct)
- US Federal segment revenue fell 21% on funding/timing; exposed to government appropriations risk
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~30% of revenue from one customer/distributor — 3 million, or 30%, decrease in project revenue attributable to the timing of revenue recognized as a result of the phase of active projects compared to the prior year and the reversal of previously re
- Strong balance sheetStrong balance sheet — $109M cash & investments
- Revenue declineRevenue -23.7% YoY
- Insider sellingInsider selling — 14 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
14.5%
Operating margin
6.1%
Net margin
3.2%
Return on equity
5.6%
Return on assets
1.4%
Revenue growth (QoQ)
-23.7%
Net-income growth
-9.1%
Current ratio
1.5×
Free cash flow
$113M
EBITDA
$198M
Tangible book value
$938M
Cash & investments
$109M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-04 | Miller Jennifer L | Option exercise | 10K | — |
| 2026-06-04 | Patton Charles R. | Option exercise | 10K | — |
| 2026-06-04 | Sutton Joseph W. | Option exercise | 10K | — |
| 2026-06-04 | WISNESKI FRANCIS V JR | Option exercise | 10K | — |
| 2026-06-04 | Johnson Claire D'Oyly-Hughes | Option exercise | 10K | — |
| 2026-06-04 | STAVROPOULOS NICKOLAS | Option exercise | 10K | — |
| 2026-05-29 | WISNESKI FRANCIS V JR | Option exercise | 5.0K | $5.80 |
| 2026-05-29 | WISNESKI FRANCIS V JR | Sell | 5.0K | $36.12 |
| 2026-05-19 | WISNESKI FRANCIS V JR | Sell | 10K | $30.29 |
| 2026-05-19 | WISNESKI FRANCIS V JR | Option exercise | 10K | $5.80 |
| 2026-05-18 | Miller Jennifer L | Option exercise | 10K | $4.74 |
| 2026-05-18 | Miller Jennifer L | Sell | 7.6K | $32.13 |
| 2026-05-18 | Miller Jennifer L | Sell | 2.4K | $32.73 |
| 2026-05-15 | STAVROPOULOS NICKOLAS | Option exercise | 1.4K | $16.33 |
| 2026-05-15 | STAVROPOULOS NICKOLAS | Sell | 1.4K | $34.00 |
| 2026-04-23 | Sutton Joseph W. | Option exercise | 10K | $4.74 |
| 2026-03-12 | Chiplock Mark | Sell | 273 | $25.31 |
| 2026-03-12 | Corrsin David J | Sell | 19 | $25.31 |
| 2026-03-12 | Maltezos Louis P | Sell | 306 | $25.31 |
| 2026-03-10 | Chiplock Mark | Option exercise | 750 | — |
| 2026-03-10 | Sakellaris George P | Option exercise | 3.8K | — |
| 2026-03-10 | Bulgarino Nicole E | Option exercise | 875 | — |
| 2026-03-10 | Bakas Michael T | Option exercise | 875 | — |
| 2026-03-10 | Maltezos Louis P | Option exercise | 875 | — |
| 2026-03-10 | Corrsin David J | Option exercise | 50 | — |
| 2026-03-10 | Christakis Peter | Option exercise | 750 | — |
| 2026-03-10 | Corrsin David J | Sell | 50 | $26.34 |
| 2026-03-08 | Corrsin David J | Option exercise | 50 | — |
| 2026-02-27 | Corrsin David J | Option exercise | 20K | $4.64 |
| 2026-02-20 | STAVROPOULOS NICKOLAS | Sell | 16K | $34.15 |
| 2026-02-20 | STAVROPOULOS NICKOLAS | Option exercise | 16K | $16.33 |
| 2026-02-19 | STAVROPOULOS NICKOLAS | Option exercise | 400 | $16.33 |
| 2026-02-19 | STAVROPOULOS NICKOLAS | Sell | 400 | $34.00 |
| 2026-02-13 | STAVROPOULOS NICKOLAS | Sell | 245 | $34.05 |
| 2026-02-13 | STAVROPOULOS NICKOLAS | Option exercise | 245 | $16.33 |
| 2026-02-12 | STAVROPOULOS NICKOLAS | Option exercise | 200 | $16.33 |
| 2026-02-12 | STAVROPOULOS NICKOLAS | Sell | 200 | $34.00 |
| 2026-01-28 | STAVROPOULOS NICKOLAS | Sell | 100 | $34.00 |
| 2026-01-28 | STAVROPOULOS NICKOLAS | Option exercise | 100 | $16.33 |
| 2025-10-13 | Chiplock Mark | Sell | 5.2K | $41.57 |
| 2025-10-13 | Chiplock Mark | Sell | 6.6K | $41.92 |
| 2025-10-13 | Chiplock Mark | Sell | 5.0K | $44.92 |
| 2025-10-13 | Chiplock Mark | Option exercise | 5.0K | $12.35 |
| 2025-10-13 | Chiplock Mark | Option exercise | 12K | $13.37 |
| 2025-10-09 | Chiplock Mark | Option exercise | 2.1K | $13.37 |
| 2025-10-09 | Chiplock Mark | Option exercise | 5.0K | $12.35 |
| 2025-10-09 | Chiplock Mark | Sell | 7.1K | $39.97 |
| 2025-10-08 | Chiplock Mark | Sell | 3.8K | $39.75 |
| 2025-10-08 | Chiplock Mark | Option exercise | 3.8K | $13.37 |
| 2025-10-07 | Chiplock Mark | Sell | 5.9K | $39.51 |
| 2025-10-07 | Chiplock Mark | Option exercise | 5.9K | $13.37 |
| 2025-10-06 | Chiplock Mark | Option exercise | 5.9K | $13.37 |
| 2025-10-06 | Chiplock Mark | Sell | 5.9K | $38.92 |
| 2025-10-01 | Chiplock Mark | Sell | 5.6K | $37.95 |
| 2025-10-01 | Chiplock Mark | Option exercise | 5.0K | $12.35 |
| 2025-10-01 | Chiplock Mark | Option exercise | 602 | $13.37 |
| 2025-09-15 | Corrsin David J | Sell | 19 | $28.00 |
| 2025-09-15 | Chiplock Mark | Sell | 269 | $28.00 |
| 2025-09-10 | Maltezos Louis P | Option exercise | 875 | — |
| 2025-09-10 | Sakellaris George P | Option exercise | 3.8K | — |
| 2025-09-10 | Chiplock Mark | Option exercise | 750 | — |
| 2025-09-10 | Bulgarino Nicole E | Option exercise | 875 | — |
| 2025-09-10 | Christakis Peter | Option exercise | 750 | — |
| 2025-09-10 | Corrsin David J | Option exercise | 50 | — |
| 2025-09-10 | Bakas Michael T | Option exercise | 875 | — |
| 2025-09-10 | Corrsin David J | Sell | 19 | $27.04 |
| 2025-09-08 | Corrsin David J | Option exercise | 50 | — |
| 2025-06-04 | Patton Charles R. | Option exercise | 4.9K | — |
| 2025-06-04 | Miller Jennifer L | Option exercise | 4.9K | — |
| 2025-06-04 | WISNESKI FRANCIS V JR | Option exercise | 4.9K | — |
| 2025-06-04 | Sutton Joseph W. | Option exercise | 4.9K | — |
| 2025-06-04 | STAVROPOULOS NICKOLAS | Option exercise | 4.9K | — |
| 2025-06-04 | Johnson Claire D'Oyly-Hughes | Option exercise | 4.9K | — |
| 2025-05-06 | Sutton Joseph W. | Option exercise | 10K | $7.30 |
| 2025-03-19 | Chiplock Mark | Sell | 95 | $11.92 |
| 2025-03-19 | Corrsin David J | Sell | 36 | $11.92 |
| 2025-03-19 | Corrsin David J | Sell | 64 | $11.92 |
| 2025-03-17 | Bulgarino Nicole E | Option exercise | 295 | — |
| 2025-03-17 | Maltezos Louis P | Option exercise | 221 | — |
| 2025-03-17 | Bakas Michael T | Option exercise | 295 | — |
| 2025-03-17 | Chiplock Mark | Option exercise | 276 | — |
| 2025-03-17 | Corrsin David J | Option exercise | 183 | — |
| 2025-03-17 | Corrsin David J | Option exercise | 101 | — |
| 2025-03-17 | Sakellaris George P | Option exercise | 2.5K | — |
| 2025-03-17 | Christakis Peter | Option exercise | 295 | — |
| 2025-03-10 | WISNESKI FRANCIS V JR | Buy | 400 | $10.17 |
| 2025-03-10 | Corrsin David J | Sell | 21 | $10.22 |
| 2025-03-08 | Corrsin David J | Option exercise | 50 | — |
| 2025-03-06 | Sakellaris George P | Buy | 25K | $9.27 |
| 2025-03-06 | WISNESKI FRANCIS V JR | Buy | 1.9K | $9.23 |
| 2025-03-05 | WISNESKI FRANCIS V JR | Buy | 300 | $9.56 |
| 2025-03-05 | Bakas Michael T | Option exercise | 650 | $4.64 |
| 2025-03-05 | Sakellaris George P | Buy | 50K | $9.74 |
| 2025-03-05 | Patton Charles R. | Buy | 5.0K | $9.96 |
| 2025-03-04 | Sakellaris George P | Buy | 50K | $9.96 |
| 2025-03-04 | Johnson Claire D'Oyly-Hughes | Buy | 1.8K | $9.95 |
| 2025-03-04 | WISNESKI FRANCIS V JR | Buy | 3.5K | $9.67 |
| 2025-02-27 | Bulgarino Nicole E | Option exercise | 26K | $6.53 |
| 2025-02-03 | Miller Jennifer L | Option exercise | 40K | $5.85 |
| 2025-02-03 | Miller Jennifer L | Sell | 22K | $20.83 |
| 2025-02-03 | Miller Jennifer L | Sell | 18K | $21.35 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-08 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-12 | Material agreementAcquisition/dispositionExhibits | filing ↗ |
| 2026-05-08 | Exhibits | filing ↗ |
| 2026-05-04 | Material agreementResults3.02Reg FDExhibits | filing ↗ |
| 2026-03-31 | Material agreementDebt obligationExec/director changeReg FDExhibits | filing ↗ |
| 2026-03-02 | ResultsExhibits | filing ↗ |
| 2025-11-03 | ResultsExhibits | filing ↗ |
| 2025-08-04 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-08 | 2026-06-04 | 0001628280-26-041641 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001628280-26-034108 ↗ |
| 8-K/A | 2026-05-08 | 2026-05-04 | 0001628280-26-032993 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001628280-26-030169 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001628280-26-029811 ↗ |
| 8-K | 2026-03-31 | 2026-03-30 | 0001628280-26-022433 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001628280-26-013574 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001628280-26-013191 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001628280-25-048545 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001628280-25-048222 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001488139-25-000136 ↗ |
| 8-K | 2025-08-04 | 2025-08-04 | 0001488139-25-000134 ↗ |