Aug. 25 at 4:00 PM
$AMRC Of course, no one can predict where the share price will be at any given point in the future, but I am absolutely convinced that Ameresco is extremely cheap at the moment.
Consider the following very basic valuation:
1) First, Ameresco management has consistently delivered on its Q2 full-year EPS guidance, with the notable exception of 2023. See the table below.
2) Ameresco's current full-year 2026 guidance is
$1.15–
$1.35 in EPS. Given the track record mentioned above, let's use the midpoint of that guidance:
$1.25 EPS.
3) The forward P/E for FY2026 is simply calculated as: P/E = Share Price / EPS.
4) At a share price of
$21 and EPS of
$1.25, Ameresco is trading at a forward P/E of just 16.8x.
➡️Forward P/E = 16.8 ! ⬅️
That is very, very low for a profitable growth company operating in the energy-efficiency and clean-energy sectors with a 4.5 years(!) of awarded project backlog.
