CECO FINANCIAL STATEMENTS

CECO Environmental Corp. — balance sheet, income statement and cash flow trends

CECOCECO Environmental Corp.

🇺🇸 USA · NASDAQ · Industrials · Pollution & Treatment Controls

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue812.4 M $+33.5%

Gross Profit278.5 M $+30.6%

Operating Income61.6 M $-31.2%

EBITDA77.7 M $-23.7%

Net Income17.1 M $-63.9%

Peer Comparison· Pollution & Treatment Controls

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
CECO	33.5%	34.3%	9.6%	2.1%
SISE	1.8%	28.4%	9.5%	4.4%
OZATD	23.4%	15.0%	22.1%	-14.2%
KLRHO	-47.1%	39.8%	17.2%	25.3%
ATS	17.4%	28.6%	12.0%	2.4%
VNT	1.0%	9.6%	9.0%	4.4%
Industry median	1.3%	39.0%	16.0%	7.2%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
CECO	33.5%	34.3%	9.6%	2.1%
PCT	-34.5%	-1,293.3%	-1,160.4%	-2,062.4%
ZWS	10.0%	43.7%	22.5%	12.3%
ERII	-3.3%	64.3%	26.8%	15.1%
VLTO	5.9%	59.9%	24.5%	17.3%
Industry median	1.3%	39.0%	16.0%	7.2%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity312.2 M $31%
Current Liabilities405.8 M $40%
Long-term Liabilities304.4 M $30%

Key Figures

YoY change

Total Assets1 B $+7.3%

Total Liabilities710.2 M $+6.5%

Total Equity312.2 M $+9.2%

Cash & ST Investments45.4 M $-69.0%

Total Debt28.4 M $-92.2%

Net Debt-17 M $-107.8%

Peer Comparison· Pollution & Treatment Controls

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
CECO	1.33	9.1%	-0.22	30.4%
SISE	1.68	59.7%	5.50	53.1%
OZATD	2.10	44.7%	1.74	59.9%
KLRHO	1.98	8.6%	-4.96	67.0%
ATS	1.64	80.8%	3.22	41.0%
VNT	0.97	166.7%	1.26	19.3%
Industry median	1.60	39.9%	-0.14	36.3%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
CECO	1.33	9.1%	-0.22	30.4%
PCT	1.71	9,952.9%	-4.88	0.8%
ZWS	3.24	34.4%	0.71	59.9%
ERII	9.28	4.8%	-2.11	88.2%
VLTO	1.48	88.6%	0.90	39.3%
Industry median	1.60	39.9%	-0.14	36.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow23.4 M $+96.7%

Capital Expenditures19.3 M $-15.1%

Free Cash Flow4.1 M $-64.6%

Dividends Paid1.6 M $—

Peer Comparison· Pollution & Treatment Controls

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
CECO	2.9%	0.5%	2.4%	136.8%
SISE	16.3%	9.2%	12.0%	366.9%
OZATD	-8.1%	-14.1%	22.9%	56.7%
KLRHO	-5.3%	-6.3%	20.4%	-20.9%
ATS	15.1%	13.2%	1.9%	625.9%
VNT	6.1%	4.9%	1.2%	139.2%
Industry median	11.3%	9.5%	2.0%	125.2%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
CECO	2.9%	0.5%	2.4%	136.8%
PCT	-1,344.0%	-1,612.6%	268.5%	65.2%
ZWS	20.1%	18.4%	1.7%	163.9%
ERII	21.4%	19.9%	1.4%	141.5%
VLTO	19.7%	18.6%	1.1%	113.7%
Industry median	11.3%	9.5%	2.0%	125.2%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.