Ameresco, Inc.
In the published model solve dated 2026-Q2, anchored at $23.20, Ameresco, Inc. (AMRC) is priced for +11.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Ameresco sells energy projects and then keeps some of them: 77% of revenue is project work, but 13% comes from energy assets the company built and owns, and the ⟦fully-contracted backlog of $3,945,078⟧ thousand at the end of 2025 is up sharply from $2.5 billion a year earlier. • Owning those assets is financed with borrowings, and the scale is the central fact about this company: net debt of $1.72 billion sits against trailing operating income of $94.1 million, or roughly 18.3 times operating
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179 institutional managers reported holding AMRC in 13F filings for the quarter ended 2026-03-31. Together they hold about 59% of the company; the top 10 hold 30%. 30 opened new positions that quarter. Held by Wellington Management, BlackRock, Dimensional Fund Advisors, among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
AMRC's share count grew 3.1% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at AMRC over the trailing three years: 2023: 17 buys totaling $2.21M; 2024: 3 buys totaling $1.06M; 2025: 9 buys totaling $1.34M. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
AMRC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-03 | +7.9% | +11.6% |
| 2023-08-02 | -8.3% | -31.2% |
| 2023-11-08 | -24.0% | +23.3% |
| 2024-03-01 | +3.0% | +14.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
AMRC's latest 8-K filings: 2026-08-19 (items 5.02); 2026-08-19 (items 5.02, 7.01, 9.01); 2026-08-03 (items 2.02, 9.01); 2026-07-27 (items 5.02, 9.01); 2026-06-08 (items 5.02, 5.07, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.