Who are EMCOR Group, Inc.'s customers? Who does EMCOR Group, Inc. earn revenue from?

Revenue comes from counterparties including Data center and network customers, McCormick & Company. Full sourced list: valuechain.wiki/emcor/customers.md

Who does EMCOR Group, Inc. pay? Who are its key suppliers?

Costs flow to Schneider Electric, Carrier Global Corporation among others. Full sourced list: valuechain.wiki/emcor/suppliers.md

U.S. specialty systems contractor

EMCOR Group, Inc.

EMCOR designs, builds, and maintains electrical and mechanical systems for data centers, manufacturing plants, hospitals, and commercial facilities. It sources controls, HVAC equipment, and construction materials from specialist suppliers and expands its capabilities and geographic reach through acquisitions of regional contractors.

Business categories Construction & Plant EPC · Industrial Infrastructure & Heavy Industry · primary

EME Updated Sep 23, 2026 4 AI consumers· 2 recurring

Per the valuechain.wiki graph, EMCOR Group, Inc. is directly linked to 3 companies (2 supply, 1 revenue relationships) and reaches 5 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-09-23).

Annual return · 2026-10-09'21+39.9%'22+16.8%'23+46%'24+111.3%'25+35.1%YTD+29.2%

Money in ▸Data center and network customers●Amount $4.1BMcCormick & Company●

EMCOR Group, Inc.$16,986,422,000

▸ Money outSchneider Electric●Carrier Global Corporation●

Financials & Segments

Total revenue · $16,986,422,000 (FY2025, SEC 10-K filed February 26, 2026)
Segments · U.S. electrical construction and facilities services · U.S. mechanical construction and facilities services · U.S. building services · U.S. industrial services · U.K. building services

Revenue from

Data center and network customers High confidence· Amount $4.1B · FY2025 · Combined network and communications customer revenue in the U.S. electrical and mechanical construction segments
FY2025 network and communications revenue across the electrical and mechanical construction segments totaled $4.132 billion. The category also includes data and fiber projects and cabling, so it should not be read as pure data-center revenue.
Confirms EN U.S. Securities and Exchange Commission Published Feb 26, 2026: EMCOR Group, Inc. 2025 Form 10-K
Confirms EN Consortium Research Group Published Jul 7, 2025: Initiating Coverage: EMCOR Group, Inc. ($EME), Wired for Growth
McCormick & Company High confidence
EMCOR subsidiary ConCor Networks installed low-voltage and communications cabling systems at McCormick's 1.8-million-square-foot distribution center in Sparrows Point, Maryland. The contract value was not disclosed.
Confirms EN ConCor Networks, an EMCOR Company Published Jun 22, 2022: McCormick & Company, Sparrows Point, MD Case Study

Pays to

Schneider Electric High confidence
EMCOR's building-automation subsidiary ESIS integrates Schneider Electric controls in new systems and operates as an authorized dealer. Procurement value was not disclosed.
Confirms EN EMCOR Services Integrated Solutions Published Sep 23, 2026: Capabilities
Carrier Global Corporation High confidence
ESIS integrates Carrier i-Vu controls into new building-automation systems and operates as an authorized dealer. Procurement value was not disclosed.
Confirms EN EMCOR Services Integrated Solutions Published Sep 23, 2026: Capabilities

Investments

Miller Electric Company High confidence· Contract value $865M · acquisition closed 2025-02-03 · Base cash consideration for Miller Electric before customary adjustments
EMCOR completed its acquisition of Southeastern U.S. electrical contractor Miller Electric on February 3, 2025. The disclosed base cash price was $865 million, before customary working-capital and other adjustments.
Confirms KO DataTooza Published Feb 4, 2025: EMCOR Group (EME) Completes Miller Electric Acquisition
Confirms EN U.S. Securities and Exchange Commission Published Feb 3, 2025: EMCOR Group, Inc. Completes Acquisition of Miller Electric Company

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
McCormick & Company	lead1	+2.7	-12.7	-15.7	+14	-8.3	-22.2
EMCOR Group, Inc.	node	+39.9	+16.8	+46	+111.3	+35.1	+29.2
Carrier Global Corporation	benef1	+45.3	-22.7	+41.5	+20.3	-21.8	+14.3
Schneider Electric	benef1	+25.9	+1.6	+25.8	+36.1	+0.5	+11.7
Amazon	benef2	+2.4	-49.6	+80.9	+44.4	+5.2	+12
Honeywell Technologies	benef2	-0.3	+4.9	+0	+10	-6.4	+3.8

YTD as of 2026-10-09 · source: Yahoo Finance

EMCOR Group, Inc. operates across U.S. specialty systems contractor. After a spike of +111.3% in 2024, gains cooled to +35.1% in 2025 and +23.5% in 2026. The stock (+23.5%) and its supply side (avg +17.5%) are moving in step. Among connected nodes the furthest ahead is Schneider Electric (+20.7%) and the furthest behind is Carrier Global Corporation (+14.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It sources controls, HVAC equipment, and construction materials from specialist suppliers and expands its capabilities and geographic reach through acquisitions of regional contractors.

Analysis generated from returns as of 2026-09-04

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