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Side-by-side financial comparison of IES Holdings, Inc. (IESC) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
ZIONS BANCORPORATION, NATIONAL ASSOCIATION is the larger business by last-quarter revenue ($891.0M vs $871.0M, roughly 1.0× IES Holdings, Inc.). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 10.5%, a 19.0% gap on every dollar of revenue. On growth, IES Holdings, Inc. posted the faster year-over-year revenue change (16.2% vs 8.7%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $-18.9M). Over the past eight quarters, IES Holdings, Inc.'s revenue compounded faster (11.1% CAGR vs 9.6%).
IES Holdings, Inc., formerly known as Integrated Electrical Services, Inc., designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
IESC vs ZION — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $871.0M | $891.0M |
| Net Profit | $91.8M | $263.0M |
| Gross Margin | 25.3% | — |
| Operating Margin | 11.2% | — |
| Net Margin | 10.5% | 29.5% |
| Revenue YoY | 16.2% | 8.7% |
| Net Profit YoY | 59.1% | 21.8% |
| EPS (diluted) | $4.51 | $1.77 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $871.0M | $891.0M | ||
| Q3 25 | $897.8M | $861.0M | ||
| Q2 25 | $890.2M | $838.0M | ||
| Q1 25 | $834.0M | $795.0M | ||
| Q4 24 | $749.5M | $820.0M | ||
| Q3 24 | $775.8M | $792.0M | ||
| Q2 24 | $768.4M | $777.0M | ||
| Q1 24 | $705.7M | $742.0M |
| Q4 25 | $91.8M | $263.0M | ||
| Q3 25 | $102.3M | $222.0M | ||
| Q2 25 | $79.3M | $244.0M | ||
| Q1 25 | $72.6M | $170.0M | ||
| Q4 24 | $57.7M | $216.0M | ||
| Q3 24 | $65.5M | $214.0M | ||
| Q2 24 | $66.6M | $201.0M | ||
| Q1 24 | $56.8M | $153.0M |
| Q4 25 | 25.3% | — | ||
| Q3 25 | 26.0% | — | ||
| Q2 25 | 26.9% | — | ||
| Q1 25 | 25.0% | — | ||
| Q4 24 | 23.8% | — | ||
| Q3 24 | 24.0% | — | ||
| Q2 24 | 25.3% | — | ||
| Q1 24 | 24.3% | — |
| Q4 25 | 11.2% | — | ||
| Q3 25 | 11.6% | — | ||
| Q2 25 | 12.6% | — | ||
| Q1 25 | 11.1% | — | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 9.7% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 11.0% | — |
| Q4 25 | 10.5% | 29.5% | ||
| Q3 25 | 11.4% | 25.8% | ||
| Q2 25 | 8.9% | 29.1% | ||
| Q1 25 | 8.7% | 21.4% | ||
| Q4 24 | 7.7% | 26.3% | ||
| Q3 24 | 8.4% | 27.0% | ||
| Q2 24 | 8.7% | 25.9% | ||
| Q1 24 | 8.0% | 20.6% |
| Q4 25 | $4.51 | $1.77 | ||
| Q3 25 | $4.99 | $1.48 | ||
| Q2 25 | $3.81 | $1.63 | ||
| Q1 25 | $3.50 | $1.13 | ||
| Q4 24 | $2.72 | $1.34 | ||
| Q3 24 | $3.06 | $1.37 | ||
| Q2 24 | $2.67 | $1.28 | ||
| Q1 24 | $2.29 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $258.7M | — |
| Total DebtLower is stronger | — | $1.5B |
| Stockholders' EquityBook value | $961.1M | $7.2B |
| Total Assets | $1.7B | $89.0B |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $258.7M | — | ||
| Q3 25 | $231.8M | — | ||
| Q2 25 | $168.3M | — | ||
| Q1 25 | $88.3M | — | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $135.8M | — | ||
| Q2 24 | $44.9M | — | ||
| Q1 24 | $106.0M | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $970.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $950.0M | ||
| Q3 24 | — | $548.0M | ||
| Q2 24 | — | $546.0M | ||
| Q1 24 | — | $544.0M |
| Q4 25 | $961.1M | $7.2B | ||
| Q3 25 | $884.0M | $6.9B | ||
| Q2 25 | $781.4M | $6.6B | ||
| Q1 25 | $705.8M | $6.3B | ||
| Q4 24 | $652.4M | $6.1B | ||
| Q3 24 | $611.1M | $6.4B | ||
| Q2 24 | $567.5M | $6.0B | ||
| Q1 24 | $534.8M | $5.8B |
| Q4 25 | $1.7B | $89.0B | ||
| Q3 25 | $1.6B | $88.5B | ||
| Q2 25 | $1.5B | $88.9B | ||
| Q1 25 | $1.4B | $88.0B | ||
| Q4 24 | $1.3B | $88.8B | ||
| Q3 24 | $1.2B | $87.0B | ||
| Q2 24 | $1.2B | $87.6B | ||
| Q1 24 | $1.1B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $27.7M | $1.1B |
| Free Cash FlowOCF − Capex | $-18.9M | $952.0M |
| FCF MarginFCF / Revenue | -2.2% | 106.8% |
| Capex IntensityCapex / Revenue | 5.3% | 13.6% |
| Cash ConversionOCF / Net Profit | 0.30× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $175.9M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $1.1B | ||
| Q3 25 | $132.0M | $438.0M | ||
| Q2 25 | $92.0M | $-62.0M | ||
| Q1 25 | $24.8M | $179.0M | ||
| Q4 24 | $37.3M | $1.1B | ||
| Q3 24 | $92.8M | $119.0M | ||
| Q2 24 | $82.9M | $251.0M | ||
| Q1 24 | $33.7M | $261.0M |
| Q4 25 | $-18.9M | $952.0M | ||
| Q3 25 | $112.0M | $413.0M | ||
| Q2 25 | $74.8M | $-93.0M | ||
| Q1 25 | $7.9M | $152.0M | ||
| Q4 24 | $24.1M | $1.1B | ||
| Q3 24 | $78.5M | $97.0M | ||
| Q2 24 | $65.4M | $234.0M | ||
| Q1 24 | $26.9M | $231.0M |
| Q4 25 | -2.2% | 106.8% | ||
| Q3 25 | 12.5% | 48.0% | ||
| Q2 25 | 8.4% | -11.1% | ||
| Q1 25 | 0.9% | 19.1% | ||
| Q4 24 | 3.2% | 128.2% | ||
| Q3 24 | 10.1% | 12.2% | ||
| Q2 24 | 8.5% | 30.1% | ||
| Q1 24 | 3.8% | 31.1% |
| Q4 25 | 5.3% | 13.6% | ||
| Q3 25 | 2.2% | 2.9% | ||
| Q2 25 | 1.9% | 3.7% | ||
| Q1 25 | 2.0% | 3.4% | ||
| Q4 24 | 1.8% | 11.8% | ||
| Q3 24 | 1.8% | 2.8% | ||
| Q2 24 | 2.3% | 2.2% | ||
| Q1 24 | 1.0% | 4.0% |
| Q4 25 | 0.30× | 4.08× | ||
| Q3 25 | 1.29× | 1.97× | ||
| Q2 25 | 1.16× | -0.25× | ||
| Q1 25 | 0.34× | 1.05× | ||
| Q4 24 | 0.65× | 5.31× | ||
| Q3 24 | 1.42× | 0.56× | ||
| Q2 24 | 1.24× | 1.25× | ||
| Q1 24 | 0.59× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
ZION
Segment breakdown not available.
