{ "slug": "electrical", "name": "Electrical", "in_level_book": true, "scores": { "resilience": 80.6, "leverage": 79.7, "trade_ai_score": 80.2, "quadrant": "transform-and-win", "quadrant_label": "Transform & Win", "quadrant_desc": "Protected from AI and full of upside. The best place to be — press the advantage.", "resilience_rel": 85.4, "leverage_rel": 66 }, "subscores": { "resilience": { "physical_core": 88, "disintermediation": 76, "entry_barrier": 82, "switching_cost": 72 }, "leverage": { "coordination_drag": 78, "operating_leverage": 80, "revenue_expansion": 82, "data_amplification": 80 }, "basis": "Licensed, physical, code-bound. Controls/low-voltage adds tech-enabled revenue expansion. Strong AI upside in estimating/design." }, "research": { "labor": { "median_hourly_wage_usd": 29.98, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "median_wage_year": "2024", "us_employment": 818700, "employment_source": "U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "projected_10yr_growth_pct": 9, "growth_source": "U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "labor_shortage_note": "Associated Builders and Contractors (ABC) 2026 Workforce Shortage Analysis identifies 78,000 unfilled electrician positions across the United States.", "labor_shortage_source": "Associated Builders and Contractors (ABC), 2026 Workforce Shortage Analysis, https://www.abc.org" }, "market": { "industry_revenue_usd": 347500000000, "revenue_source": "IBISWorld, Electricians in the US Industry Report (NAICS 23821), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry/", "revenue_year": "2026", "num_establishments": 261958, "establishments_source": "IBISWorld, Electricians in the US - Number of Businesses, https://www.ibisworld.com/united-states/number-of-businesses/electricians/", "fragmentation_note": "The US electrical contracting industry is highly fragmented with low market share concentration. According to the 2024 Profile of the Electrical Contractor study, 51% of firms have 1 to 9 employees, and 42% generate $1 million or less in annual revenue.", "fragmentation_source": "National Electrical Contractors Association (NECA) / ELECTRICAL CONTRACTOR Magazine, 2024 Profile of the Electrical Contractor, https://www.necanet.org/news/2024/07/15/2024-profile-of-the-electrical-contractor-reveals-industry-growth-and-shifting-trends" }, "economics": { "gross_margin_pct": 20, "gross_margin_source": "Construction Financial Management Association (CFMA) 2024 Construction Financial Benchmarker (https://cfma.org)", "net_margin_pct": 5.5, "net_margin_source": "National Electrical Contractors Association (NECA) 2023 Financial Performance Report (https://www.necanet.org)", "labor_pct_of_revenue": 41.6, "labor_pct_source": "National Electrical Contractors Association (NECA) Financial Performance Report (https://www.necanet.org)", "revenue_per_employee_usd": 200000, "rev_per_employee_source": "National Electrical Contractors Association (NECA) Financial Benchmarking Data (https://www.necanet.org)" }, "cash_cycle": { "dso_days": 57, "dso_source": "Sageworks / Levelset Report (2019), https://www.levelset.com/blog/trade-days-sales-outstanding/", "retainage_pct": 10, "retainage_source": "Levelset Retainage Guide (2019), https://www.levelset.com/mechanics-lien/retainage/", "days_to_payment": 83, "days_to_payment_source": "Levelset 2022 Construction Cash Flow & Payment Report, https://www.levelset.com/blog/2022-construction-cash-flow-payment-report/", "cashflow_note": "Only 12% of contractors report always getting paid on time according to contract terms, while 75% have retainage withheld from payments.", "cashflow_source": "Levelset 2022 Construction Cash Flow & Payment Report, https://www.levelset.com/blog/2022-construction-cash-flow-payment-report/" }, "ai_exposure": { "ai_resistant_work": "Physical on-site installation, hands-on troubleshooting, and dynamic field decision-making remain highly resistant to AI and robotic automation. Key physical tasks include pulling and routing cabling through unpredictable spaces, bending conduit, terminating fine wiring inside cramped junction boxes or panels, climbing utility poles, placing switchgear, and physical testing and commissioning. As highlighted in workforce analyses by Total Skills (2026) and American Career Training (2026), these tasks require human fine-motor dexterity, physical presence, and spatial adaptability in non-standardized environments. Oxford University's foundational automation study (Frey & Osborne) and subsequent industry analysis rate electricians in the low-risk category (15% probability of automation) because job sites present unpredictable physical variables, aging infrastructure, and unique layouts that current AI and robotics cannot navigate or manipulate.", "automatable_work": "Back-office administration, preconstruction coordination, estimating, contract management, and project scheduling are the most automatable functions in the electrical trade. According to Electrical Contractor Magazine / ELECTRI International (2025) and United BIM (2026), highly automatable tasks include: (1) Electrical Takeoff & Quantity Counting: AI tools automatically scan 2D PDF blueprints to count light fixtures, switches, receptacles, and circuit pathways. (2) Cost Estimating: Automated extraction of BIM geometry paired with national cost databases (e.g., RSMeans, Craftsman) to generate cost breakdowns and location-adjusted estimates. (3) 3D BIM & Clash Detection: Conversion of 2D PDF electrical drawings into 3D Revit models and automated clash detection to prevent spatial conflicts before installation. (4) Legal & Administrative Tasks: Automated review of subcontracts for risk exposure (using NLP tools like Document Crunch), transcription of site meetings (Otter.ai/Copilot), drafting safety compliance documentation, and tracking RFI/submittal delays.", "adoption_examples": "1. Academic AI-BIM Estimating Study (MDPI Buildings, 2026): Researchers tested an AI framework integrating Large Language Models with Autodesk Revit via the Model Context Protocol (MCP) and cost databases for electrical system estimating. The system automatically extracted quantities across 187 BIM elements (conduits, panels, receptacles) and completed cost estimates in 42.3 seconds compared to 2.5–3.5 hours for human baselines—achieving a 98.6% efficiency gain with a 5.1% variance from human baseline accuracy.\n2. ELECTRI International / NECA Industry Report (2025): Presented at NECA 2025 Chicago ('The State of A.I. in Electrical Contracting' by Mikec & Carr), documenting electrical contractor implementation of AI tools like Document Crunch for automated contract risk analysis, AI meeting transcription, and automated takeoff platforms.\n3. Automated Preconstruction Platforms (Drawer AI, 2026): Adoption of AI software that processes 2D PDF electrical plans to automatically calculate branch routing and run 'BIM Wizard' workflows that generate full 3D Revit models from 2D PDFs, reducing drafting and preconstruction cycles by up to 75%.\n4. AI Data Center Infrastructure Boom (McCormick Systems / NECA-IBEW 48, 2026): Reports highlight that AI technology expansion is driving massive high-density power construction, where electrical scope accounts for 45–70% of data center costs (vs 20–30% in commercial builds), forcing contractors to adopt AI takeoff tools to quickly bid on complex, high-demand power contracts.", "sources": [ "MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. https://www.mdpi.com/journal/buildings", "Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com", "NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com", "Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai", "McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com", "United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com", "Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk", "American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu" ] }, "ma_consolidation": { "consolidation_activity": "The U.S. electrical contracting trade is experiencing active and accelerating private equity roll-up and M&A consolidation. Driven by structural tailwinds including AI data center buildouts, grid modernization, commercial electrification, and skilled technician shortages, financial sponsors account for approximately 75% of all electrical contractor M&A transactions according to PitchBook. Lower-middle-market deal volume rose 13% in 2024 and continued expanding through 2025 and 2026, as sponsors execute buy-and-build strategies to build multi-regional platforms combining electrical, mechanical, and power infrastructure capabilities.", "typical_ebitda_multiple": "Acquisition multiples generally range from 5.5x to 8.0x EBITDA for lower-middle-market operators ($1M to $8M EBITDA). Specifically, GF Data benchmark reports show average multiples of 6.2x–6.4x EBITDA for $3M–$8M EBITDA businesses and 7.8x EBITDA for larger platforms ($8M+ EBITDA). High-performing specialized targets—particularly data center, utility infrastructure, and mission-critical power specialists—command premium valuations of 8.0x to 12.0x+ EBITDA, whereas smaller sub-$1M EBITDA businesses trade around 3.0x to 5.0x SDE/EBITDA.", "multiple_source": "GF Data / BMI Mergers & Acquisitions 'Electrical Contractor M&A Rebounds Report' (2025, https://bmimergers.com); CT Acquisitions 'Electrical Contractor Valuation Report' (2026, https://ctacquisitions.com); Capstone Partners 'HVAC and Electrical Services M&A Sector Updates' (2024–2026, https://capstonepartners.com).", "notable_acquirers_or_deals": "Notable PE platforms and M&A deals include: (1) Apex Service Partners (backed by Alpine Investors, with a major investment from Apollo Global Management at a ~$10B EV valuation in May 2026); (2) Truelink Capital acquiring Prime Electric (January 2026 platform deal); (3) MYR Group (NASDAQ: MYRG) acquiring Valley Electric and Comet Electric for $328M (October 2025); (4) Platte River Equity acquiring Team UIS (January 2026); (5) Huron Capital acquiring/platforming RK Electric; (6) Broad Sky Partners acquiring Commonwealth Electrical Technologies (CET); (7) Investcorp / RESA Power acquiring Prime Engineering; and (8) Hastings Equity Partners / MKD Electric acquiring Brittain Electric.", "sources": [ "BMI Mergers & Acquisitions, 'A Surge in Connections: Electrical Contractor M&A Rebounds' (2025) - https://bmimergers.com", "PitchBook Data, 'Electrical Contracting M&A Deep Dive & Analyst Notes' (2025) - https://pitchbook.com", "Capstone Partners, 'HVAC & Electrical Services M&A Sector Updates' (2024-2026) - https://capstonepartners.com", "Cascade Partners, 'Electrical Contractor M&A Market Update' (2025) - https://cascade-partners.com", "CT Acquisitions, 'Electrical Contractor Valuation in 2026: Multiples & Buyer Data' (2026) - https://ctacquisitions.com", "PrivSource, 'Electrical Services M&A Transactions & PE Acquirer Directory' (2026) - https://privsource.com", "Apollo Global Management / Apex Service Partners Press Release (2026) - https://www.apollo.com" ] }, "tech_stack": { "dominant_fsm_software": "ServiceTitan is the leading field service management (FSM) platform for mid-to-large electrical contracting businesses, while Jobber, Housecall Pro, and FieldEdge dominate small-to-mid residential/service operations, and Knowify leads for project-based commercial electrical contractors.", "common_accounting_software": "QuickBooks (Online and Desktop Premier/Enterprise) is the predominant accounting system for small-to-midsize electrical contractors, while Sage (Sage 100 Contractor, Sage Intacct for Construction, and Sage 300 CRE), Trimble Viewpoint, and Foundation Software lead among larger contractors requiring advanced construction job costing, WIP reporting, and certified payroll.", "adoption_or_integration_note": "A major integration gap persists between field software and accounting back-office systems. According to the JBKnowledge Construction Technology Report, nearly half (49%) of construction contractors resort to manual data entry when software applications do not integrate, 43% rely on spreadsheets for data transfer, and only 5.5% have full integration across all software tools. Furthermore, while cloud software adoption among U.S. electrical contractors with over 20 employees reached 62% in 2026 (up from 41% in 2020 according to DataIntelo / Construction Executive), disconnected field-to-accounting workflows remain a primary operational bottleneck.", "sources": [ "JBKnowledge Construction Technology Report (2021) - https://procore.com", "SoftwareConnect, 'Best Electrical Contractor Software' (2025) - https://softwareconnect.com", "DataIntelo / Construction Executive, 'Electrical Estimating & Operations Software Market Survey' (2026) - https://dataintelo.com", "Contractor Software Hub, 'QuickBooks vs. Sage 100 Contractor for Electrical Shops' (2026) - https://contractorsoftwarehub.com" ] } }, "market_structure": { "permits": [ { "trade_category": "Electrical", "permit_year": "2022", "permits": "2605462", "contractors": "96996", "p25_job_value": "1011.0", "median_job_value": "5236.0", "p75_job_value": "31025.0", "p90_job_value": "161897.0" }, { "trade_category": "Electrical", "permit_year": "2023", "permits": "2771860", "contractors": "94178", "p25_job_value": "1059.0", "median_job_value": "5791.0", "p75_job_value": "34990.0", "p90_job_value": "202791.0" }, { "trade_category": "Electrical", "permit_year": "2024", "permits": "1680285", "contractors": "86411", "p25_job_value": "1165.0", "median_job_value": "6481.0", "p75_job_value": "39701.0", "p90_job_value": "217184.0" } ], "seasonality": [ { "trade_category": "Electrical", "permit_month": "01", "permits": "213830", "avg_value": "209534.0" }, { "trade_category": "Electrical", "permit_month": "02", "permits": "199945", "avg_value": "148412.0" }, { "trade_category": "Electrical", "permit_month": "03", "permits": "238895", "avg_value": "183295.0" }, { "trade_category": "Electrical", "permit_month": "04", "permits": "219450", "avg_value": "138164.0" }, { "trade_category": "Electrical", "permit_month": "05", "permits": "256531", "avg_value": "214216.0" }, { "trade_category": "Electrical", "permit_month": "06", "permits": "234489", "avg_value": "229022.0" }, { "trade_category": "Electrical", "permit_month": "07", "permits": "205726", "avg_value": "258507.0" }, { "trade_category": "Electrical", "permit_month": "08", "permits": "256729", "avg_value": "184505.0" }, { "trade_category": "Electrical", "permit_month": "09", "permits": "216724", "avg_value": "209746.0" }, { "trade_category": "Electrical", "permit_month": "10", "permits": "261438", "avg_value": "159807.0" }, { "trade_category": "Electrical", "permit_month": "11", "permits": "244489", "avg_value": "271721.0" }, { "trade_category": "Electrical", "permit_month": "12", "permits": "223614", "avg_value": "351798.0" } ], "size_tiers": [ { "trade_category": "Electrical", "size_tier": "Micro (5-19)", "contractors": "58640", "avg_total_value_m": "1.59" }, { "trade_category": "Electrical", "size_tier": "Small (20-99)", "contractors": "30856", "avg_total_value_m": "6.84" }, { "trade_category": "Electrical", "size_tier": "Mid (100-499)", "contractors": "8715", "avg_total_value_m": "25.15" }, { "trade_category": "Electrical", "size_tier": "Large (500+)", "contractors": "1988", "avg_total_value_m": "202.03" } ], "top_states": [ { "trade_category": "Electrical", "state": "FL", "permits": "985556", "contractors": "29157", "median_job_value": "3920.0" }, { "trade_category": "Electrical", "state": "CA", "permits": "825587", "contractors": "33638", "median_job_value": "3924.0" }, { "trade_category": "Electrical", "state": "TX", "permits": "512684", "contractors": "17555", "median_job_value": "5702.0" }, { "trade_category": "Electrical", "state": "WA", "permits": "503744", "contractors": "5834", "median_job_value": "5291.0" }, { "trade_category": "Electrical", "state": "OR", "permits": "427142", "contractors": "6672", "median_job_value": "840.0" }, { "trade_category": "Electrical", "state": "NC", "permits": "425034", "contractors": "15650", "median_job_value": "8932.0" }, { "trade_category": "Electrical", "state": "IL", "permits": "351479", "contractors": "5969", "median_job_value": "2138.0" }, { "trade_category": "Electrical", "state": "MN", "permits": "319998", "contractors": "4180", "median_job_value": "8286.0" }, { "trade_category": "Electrical", "state": "MA", "permits": "286249", "contractors": "10709", "median_job_value": "9015.0" }, { "trade_category": "Electrical", "state": "CO", "permits": "259563", "contractors": "5393", "median_job_value": "7487.0" } ] }, "reputation": { "available": true, "source": "Public business-review listings (aggregated April 2026). Aggregate only; no individual business identified.", "n_businesses": 12534, "avg_rating": 4.19, "rating_p25": 3.7, "rating_median": 4.6, "rating_p75": 5, "avg_reviews": 18.35, "reviews_median": 6, "reviews_p90": 39, "claimed_pct": 74.5, "closed_pct": 3.8, "top_states": [ { "state": "CA", "n": 3533 }, { "state": "FL", "n": 929 }, { "state": "TX", "n": 912 }, { "state": "WA", "n": 504 }, { "state": "NY", "n": 486 } ] }, "firmographics": { "available": true, "source": "Aggregated public business firmographic records (multi-source SMB dataset). Revenue/employee/age/employer-rating distributions per trade. Aggregate only; no individual company identified.", "n_companies": 982, "revenue_usd": { "n": 322, "p25": 6200000, "median": 10296892, "p75": 25421151, "p90": 52333015 }, "employees": { "n": 165, "p25": 35, "median": 59, "p75": 103, "p90": 250 }, "founded_year_median": 2007, "employer_rating_avg": 3.84, "employer_rating_n": 162, "top_states": [] }, "level_published": { "slug": "electrical", "trade": "Electrical", "page": "https://levelcfo.com/benchmarks/electrical/", "public_company_comps": [ "IES Holdings (IESC)", "EMCOR (EME)" ], "benchmarks": [ { "tier": "A", "metric": "Public electrical field-contracting gross margin", "value": "~20%", "detail": "IES Holdings (IESC) Commercial & Industrial segment 20.3% FY2025. The consolidated 25.5% is higher only because it blends in switchgear/power-equipment manufacturing (34.4% gross), which is not field electrical work.", "source": "SEC 10-K filing (IESC)", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001048268&type=10-K" }, { "tier": "A", "metric": "Electrician median wage (SOC 47-2111)", "value": "$62,350/yr", "detail": "Median hourly $29.98; 10th pct $39,430, 90th $106,030. One of the largest construction trades by headcount.", "source": "BLS OEWS, May 2024", "url": "https://www.bls.gov/ooh/construction-and-extraction/electricians.htm" }, { "tier": "A", "metric": "Diversified MEP operating margin (EMCOR)", "value": "operating ~10%", "detail": "EMCOR's consolidated operating margin ~10.1%, FY2025 (EMCOR is a large diversified mechanical and electrical contractor).", "source": "SEC 10-K filing (EME) FY2025", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000105634&type=10-K" }, { "tier": "B", "metric": "All-contractor net profit before tax", "value": "6.3% (top quartile ~11.9%)", "detail": "The reality-check on what a healthy contractor nets.", "source": "CFMA 2024 Construction Financial Benchmarker (n=1,290)", "url": "https://cfma.org/benchmarker" }, { "tier": "C", "metric": "Electrical margin by job type", "value": "service higher than project; net ~10-18%", "detail": "Directional; service/repair carries higher gross margin than project work.", "source": "Industry coaching sources - directional", "url": "https://stephsbooks.com/blog/electrical-contractor-profit-margins" } ], "key_stat": { "value": "20.3%", "label": "field electrical-contracting gross margin, IES Holdings C&I segment (FY2025 10-K); consolidated 25.5% blends in power-equipment manufacturing" }, "hero_stats": [ { "value": "20.3%", "caption": "Gross margin (field)", "label": "IES C&I segment, FY2025; consolidated 25.5% blends in manufacturing" }, { "value": "$62,350", "caption": "Median electrician wage", "label": "BLS OEWS, SOC 47-2111, May 2024" }, { "value": "6.3%", "caption": "Net margin (before tax)", "label": "all-contractor, CFMA; top quartile ~11.9%" }, { "value": "742,580", "caption": "Electricians employed", "label": "US, one of the largest trades (BLS)" } ], "segment_reads": { "title": "What the public electrical contractors actually earn", "note": "n/d = not disclosed at that cut. IES segment operating margins exclude ~$52M unallocated corporate SG&A, so they slightly overstate fully-loaded segment profitability. Gross margins are clean.", "rows": [ { "company": "IES Holdings (IESC)", "scope": "Commercial & Industrial segment, FY2025", "gross": "20.3%", "operating": "11.0%", "net": "n/d", "note": "The traditional commercial electrical-CONTRACTING read, the thinnest segment." }, { "company": "IES Holdings (IESC)", "scope": "Communications segment, FY2025", "gross": "23.2%", "operating": "14.6%", "net": "n/d", "note": "Data-center / network install, riding data-center demand." }, { "company": "IES Holdings (IESC)", "scope": "Infrastructure Solutions segment, FY2025", "gross": "34.4%", "operating": "23.8%", "net": "n/d", "note": "NOT field electrical: engineered power products / switchgear MANUFACTURING." }, { "company": "EMCOR (EME)", "scope": "US Electrical Construction segment, FY2025", "gross": "n/d", "operating": "12.1%", "net": "n/d", "note": "Large diversified electrical construction arm." } ] }, "true_margin_bridge": { "headline": "The service call looked like a 50% margin. After the fully-burdened electrician and the truck, it is closer to 28%.", "method": "Reproduce it on your own book: start from the quoted gross margin, subtract the fully-burdened electrician hours (BLS SOC 47-2111 median $29.98/hr times about 1.3 for taxes, workers' comp, and benefits), then the truck, drive, and dispatch time the job never gets charged for, then the callback rate on that job type. The gap between the quoted margin and what lands is where service work quietly loses margin on jobs that look profitable on the invoice.", "chart": { "title": "Where a residential electrical service call's apparent margin goes", "unit": "%", "sample": "Level analysis; labor anchored to BLS SOC 47-2111 wage + statutory burden", "points": [ { "name": "Apparent gross margin", "value": 50 }, { "name": "Less fully-burdened electrician", "value": 39 }, { "name": "Less truck / drive / dispatch", "value": 33 }, { "name": "True margin after callback", "value": 28 } ] } }, "findings": [ { "headline": "Field electrical work is the thin end of a public electrical company; the fat margin is manufacturing.", "insight": "IES reports four segments. The two that are actual field electrical contracting, Commercial & Industrial (11.0% operating) and Residential (8.0% operating), sit at the bottom; Residential is the thinnest on operating margin, C&I the thinnest on gross (20.3%). The eye-popping 23.8% is Infrastructure Solutions, which is engineered power-products and switchgear manufacturing, not field work. So the headline 25.5% company margin is propped up by non-contracting businesses. Read the segment, not the blend.", "source": "IES Holdings FY2025 10-K", "url": "https://www.sec.gov/Archives/edgar/data/1048268/000104826825000174/iesc-20250930.htm", "chart": { "title": "IES Holdings operating margin by segment, FY2025", "unit": "%", "sample": "IES Holdings FY2025 10-K segment operating margin", "points": [ { "name": "Infrastructure (mfg, not field)", "value": 23.8 }, { "name": "Communications", "value": 14.6 }, { "name": "Commercial & Industrial (electrical contracting)", "value": 11 }, { "name": "Residential", "value": 8 } ] } }, { "headline": "Electrical service work runs higher margin than project and new-construction work.", "insight": "Operator sources put residential electrical service around 50 to 65% gross versus roughly 20 to 35% on commercial or new-construction bid work. The public data agrees on direction: IES's field-contracting segments (C&I 20.3% gross, Residential thinner on operating margin) sit below its manufacturing arm. Service is billable-labor-heavy; project work is competed on price. Directional industry figures.", "source": "AceWatt, RunClockwork 2026 (directional)", "chart": { "title": "Gross margin by job type (directional, industry sources)", "unit": "%", "sample": "Directional: AceWatt, RunClockwork (2026)", "points": [ { "name": "Residential service", "value": 55 }, { "name": "Commercial / project (bid)", "value": 30 } ] } }, { "headline": "The electrician wage runs about $19 to $51 an hour, one of the widest spreads in the trades.", "insight": "Employee wages, not fully-loaded cost; add roughly 30% for taxes, workers' comp, and benefits. Electricians are one of the largest construction trades by headcount, and the P10-to-P90 spread is wide, so a master electrician's true loaded cost can be more than double a helper's. Cost each role at its burdened rate, not a blended average.", "source": "BLS Occupational Employment & Wage Statistics, May 2024, SOC 47-2111", "chart": { "title": "Electrician hourly wage percentiles (BLS OEWS, May 2024)", "unit": "", "sample": "BLS OEWS May 2024, SOC 47-2111 (n=742,580)", "points": [ { "name": "P10", "value": 18.96 }, { "name": "P25", "value": 23.47 }, { "name": "Median", "value": 29.98 }, { "name": "P75", "value": 39.29 }, { "name": "P90", "value": 50.98 } ] } } ], "_license": "https://creativecommons.org/licenses/by/4.0/ (free to cite with attribution to Level, levelcfo.com)", "_publisher": "Level" }, "comps": [ { "ticker": "EME", "name": "EMCOR Group, Inc.", "return_6m_pct": 4.9, "return_1y_pct": 22.6, "gross_margin_pct": 18.7, "ev_ebitda": 17.67, "market_cap_billions": 33.06 }, { "ticker": "IES", "name": "IES Holdings, Inc.", "return_6m_pct": null, "return_1y_pct": null, "gross_margin_pct": 26.08, "ev_ebitda": 25.13, "market_cap_billions": 12.21 }, { "ticker": "MYRG", "name": "MYR Group Inc.", "return_6m_pct": 48.2, "return_1y_pct": 113.6, "gross_margin_pct": 12.06, "ev_ebitda": 22.94, "market_cap_billions": 6.1 } ] }