IES Holdings, Inc. (IESC)

Nasdaq · Common Stock · Electrical Work

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

37 entities across 14 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2025-11-21 — see the exhibit.

Which other public companies file entities in the same places:

Delaware16 Florida4 Ohio3 Connecticut2 Texas2 Oklahoma2 Oregon1 Illinois1 Pennsylvania1 Louisiana1 Indiana1 Wisconsin1

Subsidiaries of IES Holdings, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Aerial Lighting & Electric, Inc.	Connecticut
Arrow Engine Company	Delaware
Azimuth Communications, Inc.	Oregon
Bayonet Plumbing, Heating & Air Conditioning, LLC	Florida
Calumet Armature and Electric, L.L.C.	Illinois
Edmonson Electric, LLC	Florida
Four Point Dynamics, LLC	Delaware
Freeman Enclosure Systems, LLC	Ohio
Greiner Industries, Inc.	Pennsylvania
Hotchkiss Alarms, LLC	Connecticut
IES Commercial, Inc.	Delaware
IES Communications, LLC	Delaware
IES Consolidation, LLC	Delaware
IES Enclosure Solutions and Services, LLC	Delaware
IES FL RE, LLC	Florida
IES Infrastructure Solutions, LLC	Delaware
IES Investments, LLC	Delaware
IES LA RE, LLC	Louisiana
IES Management LP	Texas
IES OK RE, LLC	Oklahoma
IES Operations Group, Inc.	Delaware
IES PA RE, LLC	Delaware
IES Residential, Inc.	Delaware
IES SC RE, LLC	Delaware
IES Shared Services, Inc.	Delaware
Integrated Electrical Finance, Inc.	Delaware
K.E.P. Electric, Inc.	Ohio
Key Electrical Supply, Inc.	Texas
Magnetech Industrial Services, Inc.	Indiana
NEXT Electric, LLC	Wisconsin
Plant Power and Control Systems, L.L.C.	Alabama
Qypsys, LLC	Florida
Southern Industrial Sales and Services, Inc.	Georgia
Technibus, Inc.	Delaware
Thomas Popp & Company	Ohio
Wedlake Fabricating, Inc.	Oklahoma
Wisconsin Heavy Fabrication, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

7 / 9

PASSReturn on assets positiveROA 19.2%
PASSOperating cash flow positiveOCF 286M
PASSReturn on assets improving17.6% → 19.2%
FAILCash flow exceeds earningsOCF 286M vs NI 306M
PASSLong-term debt ratio falling0.0% → 0.0% of assets
PASSCurrent ratio improving1.67 → 1.71
PASSNo share dilution20M → 20M shares
PASSGross margin improving24.2% → 25.5%
FAILAsset turnover improving2.32× → 2.11×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$1.2B	$41.6M	$72.0M	19.1%	21,092,410
FY2021	$1.5B	$66.7M	$30.5M	18.7%	21,086,432
FY2022	$2.2B	$34.8M	−$13.0M	14.7%	20,894,625
FY2023	$2.4B	$108.3M	$136.2M	18.7%	20,413,032
FY2024	$2.9B	$219.1M	$189.2M	24.2%	20,414,932
FY2025	$3.4B	$306.0M	$218.8M	25.5%	20,182,797

Ownership flow

14 institutions tracked — 7 added, 5 reduced, 2 opened a new position. Index money added 211,628 shares while active managers cut 129,362.

Institutional holders of IES Holdings, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	883,520	+173,949	$649.1M
FMR LLC	Active fund	2,245,587	−126,158	$1.6B
STATE STREET CORP	Index	274,069	+66,525	$201.3M
GEODE CAPITAL MANAGEMENT, LLC	Index	266,996	−28,846	$196.2M
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	106,752	+24,400	$78.4M
MORGAN STANLEY	Active fund	154,221	−23,369	$113.3M
Bridgewater Associates, LP	Hedge fund	10,114	−12,047	$7.4M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	51,110	−11,126	$37.5M
CITADEL ADVISORS LLC	Hedge fund	59,996	+9,896	$44.1M
JPMORGAN CHASE & CO	Active fund	25,421	+3,485	$18.7M
BANK OF AMERICA CORP /DE/	Active fund	37,071	+3,234	$27.2M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	23,930	+2,323	$17.6M

NORGES BANK, Point72 Asset Management, L.P. hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2025Q4: $17.7M
2024Q4: $15.7M
2023Q4: $929,000
2022Q4: $7.5M
2021Q4: $4.8M
2020Q4: $695,000

Identity

CIK: 0001048268
LEI: 549300687T8E6LN6EN72
FIGI: BBG000PHV438
SIC: 1731 · Electrical Work
Incorporated: DE
Headquarters: HOUSTON, TX

Ownership

Institutional: 97.3%
Institutions: 557
Insiders: 3.0%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other electrical work companies

IES Holdings, Inc. files under SIC 1731 — all 3 electrical work companies compared on assets and F-score.

QUANTA SERVICES, INC.PWR COMFORT SYSTEMS USA INCFIX

Questions about IES Holdings, Inc.

How many subsidiaries does IES Holdings, Inc. file with the SEC?: 37, listed in its most recent exhibit 21. They are incorporated across 14 jurisdictions, led by Connecticut, Delaware, Oregon. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is IES Holdings, Inc. financially healthy?: IES Holdings, Inc. scores 7 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of IES Holdings, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (trimming), BlackRock, Inc. (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

Download the terminal See pricing

Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

37 entities across 14 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2025-11-21 — see the exhibit.

Entity

Jurisdiction

Note

Aerial Lighting & Electric, Inc.

Connecticut

Arrow Engine Company

Delaware

Azimuth Communications, Inc.

Oregon

Bayonet Plumbing, Heating & Air Conditioning, LLC

Florida

Calumet Armature and Electric, L.L.C.

Illinois

Edmonson Electric, LLC

Florida

Four Point Dynamics, LLC

Delaware

Freeman Enclosure Systems, LLC

Ohio

Greiner Industries, Inc.

Pennsylvania

Hotchkiss Alarms, LLC

Connecticut

IES Commercial, Inc.

Delaware

IES Communications, LLC

Delaware

IES Consolidation, LLC

Delaware

IES Enclosure Solutions and Services, LLC

Delaware

IES FL RE, LLC

Florida

IES Infrastructure Solutions, LLC

Delaware

IES Investments, LLC

Delaware

IES LA RE, LLC

Louisiana

IES Management LP

Texas

IES OK RE, LLC

Oklahoma

IES Operations Group, Inc.

Delaware

IES PA RE, LLC

Delaware

IES Residential, Inc.

Delaware

IES SC RE, LLC

Delaware

IES Shared Services, Inc.

Delaware

Integrated Electrical Finance, Inc.

Delaware

K.E.P. Electric, Inc.

Ohio

Key Electrical Supply, Inc.

Texas

Magnetech Industrial Services, Inc.

Indiana

NEXT Electric, LLC

Wisconsin

Plant Power and Control Systems, L.L.C.

Alabama

Qypsys, LLC

Florida

Southern Industrial Sales and Services, Inc.

Georgia

Technibus, Inc.

Delaware

Thomas Popp & Company

Ohio

Wedlake Fabricating, Inc.

Oklahoma

Wisconsin Heavy Fabrication, LLC

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

7 / 9

PASSReturn on assets positiveROA 19.2%
PASSOperating cash flow positiveOCF 286M
PASSReturn on assets improving17.6% → 19.2%
FAILCash flow exceeds earningsOCF 286M vs NI 306M
PASSLong-term debt ratio falling0.0% → 0.0% of assets
PASSCurrent ratio improving1.67 → 1.71
PASSNo share dilution20M → 20M shares
PASSGross margin improving24.2% → 25.5%
FAILAsset turnover improving2.32× → 2.11×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$1.2B

$41.6M

$72.0M

19.1%

21,092,410

FY2021

$1.5B

$66.7M

$30.5M

18.7%

21,086,432

FY2022

$2.2B

$34.8M

−$13.0M

14.7%

20,894,625

FY2023

$2.4B

$108.3M

$136.2M

18.7%

20,413,032

FY2024

$2.9B

$219.1M

$189.2M

24.2%

20,414,932

FY2025

$3.4B

$306.0M

$218.8M

25.5%

20,182,797

Ownership flow

14 institutions tracked — 7 added, 5 reduced, 2 opened a new position. Index money added 211,628 shares while active managers cut 129,362.

Institutional holders of IES Holdings, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	883,520	+173,949	$649.1M
FMR LLC	Active fund	2,245,587	−126,158	$1.6B
STATE STREET CORP	Index	274,069	+66,525	$201.3M
GEODE CAPITAL MANAGEMENT, LLC	Index	266,996	−28,846	$196.2M
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	106,752	+24,400	$78.4M
MORGAN STANLEY	Active fund	154,221	−23,369	$113.3M
Bridgewater Associates, LP	Hedge fund	10,114	−12,047	$7.4M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	51,110	−11,126	$37.5M
CITADEL ADVISORS LLC	Hedge fund	59,996	+9,896	$44.1M
JPMORGAN CHASE & CO	Active fund	25,421	+3,485	$18.7M
BANK OF AMERICA CORP /DE/	Active fund	37,071	+3,234	$27.2M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	23,930	+2,323	$17.6M

NORGES BANK, Point72 Asset Management, L.P. hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

Questions about IES Holdings, Inc.

How many subsidiaries does IES Holdings, Inc. file with the SEC?

37, listed in its most recent exhibit 21. They are incorporated across 14 jurisdictions, led by Connecticut, Delaware, Oregon. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is IES Holdings, Inc. financially healthy?

IES Holdings, Inc. scores 7 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of IES Holdings, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (trimming), BlackRock, Inc. (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.