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13F +24% · WORLDQUANT Institutional Filing Alert

WorldQuant (Millennium Quant Arm) (Igor Tulchinsky · WorldQuant LLC) added to FIX (+24% shares QoQ · 17.5% of 13F portfolio)

Form 13F-HR institutional holdings disclosure · Filed 2026-10-17

WorldQuant Holdings › All Filing Alerts › SEC Filing ↗

FIX

Comfort Systems USA, Inc.
$1,288.61
+$44.42 (3.57%)Oct 27 close
IndustrialsS&P 500 CompareTechnicals
Model valuationLooks undervaluedDCF base $2,908
1M3M6M1Y2Y
-14%+18%+50%+81%+113%Oct 2025Oct 2026Apr 202652w high $2,073.9952w low $841.66
FIXSPY
Wall St. Highest PT $2,053.00 (+59.3%) Wall St. Avg PT $1,916.88 (+48.8%)
$875$1,342$1,808$2,275$2,742POC $1,683Hi $2,053Avg $1,917
Underwater Drawdown %Max DD -43.8%Current -37.6%
0.0%-43.8%
Relative Strength vs SPY+18.7% vs SPYOutperforming
+118%0%-118%
1W
−$108.48 (7.76%)
1M
−$370.30 (22.32%)
3M
−$336.87 (20.72%)
6M
−$429.04 (24.98%)
YTD
+$356.65 (38.27%)
1Y
+$314.16 (32.24%)

Chart

Loading live chart…

Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar
Wall Street analyst consensus
SellHoldStrong Buy
Strong Buy
10 analysts · mean score 1.20
1 = Strong Buy · 5 = Sell
Strong Buy990%
Buy00%
Hold110%
Underperform00%
Sell00%
Wall Street consensus · as of Oct 22, 2026
Analyst price targets
Current price$1,288.61
Average target$2,163.38
+$874.77 (+67.9%) upsideaverage target vs current price
CurrentAverageMedian
Low$1,875.00
Median$2,148.50
High$2,500.00
12-month Wall Street target range · as of Oct 20, 2026
Recent analyst rating changes · 30
Reiterated
2026-10-26 · UBS reiterated Buy on FIX
Reiterated
2026-10-26 · Oppenheimer reiterated Outperform on FIX
Reiterated
2026-10-26 · Keybanc reiterated Overweight on FIX
Reiterated
2026-10-15 · Keybanc reiterated Overweight on FIX
Initiated
2026-08-21 · DA Davidson started covering FIX at Buy
Reiterated
2026-07-27 · UBS reiterated Buy on FIX
All analyst rating changes ›

Third-party ratings, not SURVYR.'s views.

Health check

Financial health
DistressGrey zoneSafe
Safe zone
Altman Z-score 6.8
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Strong
Piotroski F-score 7 of 9
See the tests
  • ✓Positive net income
  • ✓Positive operating cash flow
  • ✓Return on assets improved
  • ✓Cash flow above net income
  • ✗Long-term debt / assets fell
  • ✓Current ratio improved
  • ✓No share dilution
  • ✓Gross margin improved
  • ✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Sep 30, 2026). Descriptive, not a forecast.

Key stats & company

Market value$45.4B
P/E (last 12 months)27.8
P/E (next 12 months, estimated)19.6
52-week range$841.66 – $2,073.99
Revenue growth (latest quarter vs a year ago)+53.7%
Dividend yield0.32%
Analyst consensusStrong Buy (8)
Average analyst price target$1,916.88 (+49%)

What they do

Comfort Systems USA, Inc. provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. The company operates through two segments: Mechanical and Electrical. It offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.

Industrials · Engineering & Construction
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +4 (DCF counts double).
▲DCF (base case)above the price by 126%
•Forward P/E vs sector19.6x vs median 17.5x
▲Piotroski F-score7/9
▲Altman Z6.8 (safe)
▲Net debt / EBITDA-1.0x
▲Analyst target+49% (8 analysts)

Discounted cash flow

Bear
$1,425
+11%
growth 18% · disc. 13.5% · term. 2.0%
Base
$2,908
+126%
growth 30% · disc. 12.5% · term. 2.5%
Bull
$4,947
+284%
growth 38% · disc. 11.5% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 11% a year for 10 years.
Implied
+11%/yr
FCF, last 3 yrs
+60%/yr
FCF, last 5 yrs
+31%/yr
Revenue, last 3 yrs
+30%/yr
Revenue, last 5 yrs
+26%/yr
Same inputs as the DCF above: trailing free cash flow 2.4B, 12.5% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-09-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.66 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Industrials

P/E (trailing)
sector median 26.2× · 55th pct
 27.8×
pricier
Forward P/E
sector median 17.5× · 63rd pct
 19.6×
pricier
EV / EBITDA
sector median 14.9× · 78th pct
 20.0×
pricier
Price / sales
sector median 2.2× · 72nd pct
 3.6×
pricier
Price / book
sector median 3.5× · 93rd pct
 13.6×
pricier
FCF yield
sector median 4.6% · 60th pct
 5.4%
cheaper

Forward EPS $65.86 vs trailing $46.30 (+42% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$1.2B
as of 2018-09-30
vs a year ago
–
YoY
× TTM revenue
0.10×
coverage
18-03
18-06
18-09

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
25.6%
Operating margin
16.7%
FCF margin
19.5%
Net margin
13.0%
Return on equity
48.9%
Return on invested capital
132.5%
Net debt / EBITDA
-1.0×
Current ratio
1.1×
Interest cover
264.9×
Cash conversion (OCF/NI)
1.8×
Piotroski F-score 7/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✓ Gross margin improved✗ Asset turnover improved

Altman Z-score 6.8 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$1,917
+49%
Analysts
8
Strong Buy
Range
$1,808–$2,053
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$9.1B$1.0B$1.0B
2024$7.0B$522.4M$738.0M
2023$5.2B$323.4M$544.7M
2022$4.1B$245.9M$253.2M
2021$3.1B$143.3M$157.8M
2020$2.9B$150.1M$262.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +30.0%.

For information only · Important disclosures

Grades vs sector

Momentum
95th percentile in sector
A+
12-1 return: +71.7%
Percentile within its GICS sector across the S&P 1500.
Growth
95th percentile in sector
A
Revenue growth (YoY): +50.3%
Percentile within its GICS sector across the S&P 1500.
Value
16th percentile in sector
D
Forward E/P: 4.2% · EBITDA/EV: 4.1%
Percentile within its GICS sector across the S&P 1500.
Profitability
83rd percentile in sector
A-
Profit margin: +12.8% · Return on equity: +55.3%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Held by 1 of 7 live models: Quality Growth.

Quality Growth
6.7% of the book · ranked 5 of 360
 HeldMomentum Top 15
ranked 27 of 499 · 12-month momentum 87.7%
 Momentum Blend
Not in the current book
 New Highs Growth
Outside this model's universe or screens
 SURVYR. Barbell Momentum & T-Bill Shield
Outside this model's universe or screens
 SURVYR. Physical AI Grid & Power
Outside this model's universe or screens
 SURVYR. Long Book
Not in the current book
Why it's in the Quality Growth #5 of 360

Qualified on ROIC 103%, revenue +46% (TTM), growth accelerating +14.9 pts, latest quarter 2026-06-30. Ranked 5th of 360 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-27) it ranks 9th.

Earnings & events

FIX earningsReported Oct 22, 2026▲ Above estimates
Results · After the close
EPS actual$13.91
EPS estimate$12.85
Surprise+8.2%
Revenue$3.8B
Next report
Thu Feb 18, 2027Time not confirmed
EPS consensus$14.03 range $13.27–$14.65
Revenue consensus$3.8B 9 analysts
Last 4 quarters · EPS vs estimate
Oct 22, 2026$13.91est $12.85+8.2%Above estimates
Jul 23, 2026$12.53est $10.46+19.9%Above estimates
Apr 23, 2026$10.51est $6.81+54.4%Above estimates
Feb 19, 2026$9.37est $6.75+38.7%Above estimates

In line = within 1% of the estimate.

Source: Yahoo Finance · refreshed 2026-10-27 18:03:58 ET
25-0225-0425-0725-1026-0226-0426-0726-100.0013.91
EstimateActual (beat)Actual (miss)

Quarterly revenue

QuarterRevenueYoY
2026-09-30$3.8B+53.7%
2026-06-30$3.3B–
2026-03-31$2.9B–
2025-12-31$2.6B–
2025-09-30$2.5B–

Recent dividends

2026-08-13: $0.900 · 2026-05-15: $0.800 · 2026-03-06: $0.700 · 2025-11-13: $0.600 · 2025-08-14: $0.500 · 2025-05-16: $0.450 · 2025-03-10: $0.400 · 2024-11-14: $0.350

News & catalysts

More news
Which Gives You More Of The AI Build-Out, Jacobs Or Comfort Systems?
Trefis · 11h ago
US Stock Market Today: S&P 500 Futures Ease As Traders Weigh Fed Path
Simply Wall St. · 19h ago
FIX after earnings: shares fell 9.3% on Oct 23
Coteau · Oct 23
Comfort Systems (FIX) Q3 2026 Earnings Call Transcript
Nasdaq · Oct 23
What Comfort Systems USA (FIX) Said on Its Q3 Earnings Call
Nasdaq · Oct 23

Research

Quality Growth: rebalance of Sep 30, 2026Oct 22, 2026
Rating changes
Reiterated
2026-10-26 · UBS reiterated Buy on FIX
Reiterated
2026-10-26 · Oppenheimer reiterated Outperform on FIX
Reiterated
2026-10-26 · Keybanc reiterated Overweight on FIX
Reiterated
2026-10-15 · Keybanc reiterated Overweight on FIX
Initiated
2026-08-21 · DA Davidson started covering FIX at Buy
Reiterated
2026-07-27 · UBS reiterated Buy on FIX

Third-party analyst actions, not SURVYR.'s views. All rating changes

Insider trades
Lane Brian E.
Director, CHIEF EXECUTIVE OFF. · 2026-08-26
Sell
$25.8M
George William Iii
CHIEF FINANCIAL OFFICER · 2026-08-17
Sell
$4.7M
Myers Franklin
Director · 2026-08-11
Sell
$6.8M
Myers Franklin
Director · 2026-08-10
Sell
$5.9M

Stats refreshed 2026-10-27 18:03:58 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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