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U.S. Construction Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies64
  • 7D2.7%
  • 3M26.5%
  • 1Y145.5%
  • YTD35.1%

Over the last 7 days, the Construction industry has risen 2.7%, driven by gains in Comfort Systems USA and APi Group of 3.2% and 8.7%, respectively. In the same time, Valmont Industries was down 5.1%. This takes the industry's 12 month performance to a gain of 146%. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

Has the U.S. Construction Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026US$377.5bUS$172.5bUS$6.7b43.7x56.7x2.2x
Thu, 19 Mar 2026US$339.9bUS$173.7bUS$6.7b32.7x51x2x
Sat, 14 Feb 2026US$336.0bUS$168.3bUS$10.2b38.3x33.1x2x
Mon, 12 Jan 2026US$278.5bUS$165.7bUS$10.0b33x27.8x1.7x
Wed, 10 Dec 2025US$280.3bUS$165.8bUS$10.0b33.8x28x1.7x
Fri, 07 Nov 2025US$283.1bUS$165.3bUS$10.5b33.5x26.8x1.7x
Sun, 05 Oct 2025US$265.2bUS$160.0bUS$9.9b35.9x26.7x1.7x
Tue, 02 Sep 2025US$240.4bUS$157.7bUS$10.0b34.5x24x1.5x
Thu, 31 Jul 2025US$242.9bUS$153.6bUS$7.1b33.6x34x1.6x
Sat, 28 Jun 2025US$217.5bUS$153.2bUS$7.2b32.2x30.4x1.4x
Mon, 26 May 2025US$195.7bUS$153.2bUS$7.2b28.2x27.3x1.3x
Wed, 23 Apr 2025US$149.2bUS$149.6bUS$6.8b21.3x22x1x
Fri, 21 Mar 2025US$163.7bUS$149.6bUS$6.8b24.8x24.2x1.1x
Sun, 16 Feb 2025US$177.2bUS$146.8bUS$4.0b29.6x43.8x1.2x
Tue, 14 Jan 2025US$188.1bUS$146.2bUS$3.9b32.7x47.9x1.3x
Thu, 12 Dec 2024US$196.6bUS$146.2bUS$3.9b32.4x50.1x1.3x
Sat, 09 Nov 2024US$198.4bUS$145.4bUS$3.9b35x50.7x1.4x
Mon, 07 Oct 2024US$180.4bUS$144.7bUS$4.0b32.7x45.4x1.2x
Wed, 04 Sep 2024US$167.7bUS$144.7bUS$4.0b26.2x42.2x1.2x
Fri, 02 Aug 2024US$164.7bUS$142.8bUS$3.6b26.1x46.1x1.2x
Sun, 30 Jun 2024US$156.1bUS$141.8bUS$3.4b25.1x45.4x1.1x
Tue, 28 May 2024US$166.4bUS$141.8bUS$3.4b26x48.3x1.2x
Thu, 25 Apr 2024US$149.3bUS$139.2bUS$3.3b24.6x45.2x1.1x
Sat, 23 Mar 2024US$152.8bUS$136.3bUS$3.5b25.5x44.1x1.1x
Mon, 19 Feb 2024US$130.7bUS$132.9bUS$3.7b26.3x35.5x1x
Wed, 17 Jan 2024US$122.3bUS$135.2bUS$3.6b23.2x34.2x0.9x
Fri, 15 Dec 2023US$123.9bUS$135.2bUS$3.6b25.2x34.8x0.9x
Sun, 12 Nov 2023US$106.6bUS$134.5bUS$3.6b19.8x29.3x0.8x
Tue, 10 Oct 2023US$110.6bUS$130.5bUS$3.4b20.5x33x0.8x
Thu, 07 Sep 2023US$121.2bUS$130.5bUS$3.4b22.1x36.1x0.9x
Sat, 05 Aug 2023US$120.9bUS$129.9bUS$3.6b19.2x33.2x0.9x
Mon, 03 Jul 2023US$119.1bUS$126.6bUS$3.2b19.9x36.9x0.9x
Wed, 31 May 2023US$110.6bUS$126.5bUS$3.2b18.4x34.2x0.9x
Fri, 28 Apr 2023US$107.2bUS$123.4bUS$3.2b22.7x33.3x0.9x
Price to Earnings Ratio

33.3x


Total Market Cap: US$107.2bTotal Earnings: US$3.2bTotal Revenue: US$123.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 36.7x202420252026
Current Industry PE
  • Investors are optimistic on the American Construction industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 56.7x which is higher than its 3-year average PE of 36.7x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market3.58%
Industrials1.16%
Construction2.67%
Construction and Engineering2.67%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FIX Comfort Systems USAUS$1.68k3.2%
+US$1.8b		412.0%PE57.7x
APG APi GroupUS$48.728.7%
+US$1.7b		116.8%PS2.7x
PWR Quanta ServicesUS$604.971.5%
+US$1.4b		138.4%PE88.3x
EME EMCOR GroupUS$831.112.3%
+US$841.7m		129.1%PE29.1x
LGN LegenceUS$76.0816.4%
+US$720.5m		n/aPS2x

Latest News

CTRI
US$33.10
Centuri Holdings
7D
-1.9%
1Y
99.3%
MTZ
US$371.59
MasTec
7D
1.7%
1Y
234.4%
APG
US$48.72
APi Group
7D
8.7%
1Y
116.8%

APi Group: A Safety Player At Work

Apr 20
FIX
US$1,680.09
Comfort Systems USA
7D
3.2%
1Y
412.0%

FIX: Texas Data Center And Modular Exposure Will Shape Future P/E Expectations

Analysts have lifted the price target on Comfort Systems USA to $1,819 from $1,800, citing the company’s exposure to fast growing Texas data center projects, its modular capabilities, and the contribution from Kodiak in expanding its skilled workforce. Analyst Commentary Bullish analysts have been steadily lifting their expectations on Comfort Systems USA, pointing to the same core themes that underpin the latest price target move.
GVA
US$124.17
Granite Construction
7D
-2.4%
1Y
65.2%

GVA: Backlog And Cash Conversion Will Support Above Consensus FY26 Outlook Execution

Analysts have raised their consolidated price target on Granite Construction to $132, citing strong backlog growth, solid cash conversion and an above-consensus FY26 outlook as the main factors supporting the updated view. Analyst Commentary Recent research highlights that the higher price target to $132 is supported by a strong backlog and solid cash conversion, with Q4 results and the FY26 outlook viewed as key reference points.
STRL
US$472.90
Sterling Infrastructure
7D
3.0%
1Y
259.4%

Sterling Infrastructure: Impressive Yet Expensive

Apr 18
VMI
US$409.88
Valmont Industries
7D
-5.1%
1Y
52.1%

Valmont Industries: Management's Plans Trump Short-Term Uncertainty

Apr 17
NWPX
US$82.14
NWPX Infrastructure
7D
-6.5%
1Y
103.9%
EME
US$831.11
EMCOR Group
7D
2.3%
1Y
129.1%
PWR
US$604.97
Quanta Services
7D
1.5%
1Y
138.4%

PWR: Power Supercycle And Backlog Visibility Will Shape Balanced Outlook

Analysts have lifted the Quanta Services fair value estimate from $479.09 to $593.30. This reflects updated assumptions for slightly faster revenue growth, modestly higher profit margins, and a higher future P/E multiple following a series of upward price target revisions tied to recent Q4 results and multi year growth opportunities in power infrastructure and related acquisitions.
LGN
US$76.08
Legence
7D
16.4%
1Y
n/a
ECG
US$129.34
Everus Construction Group
7D
-1.2%
1Y
261.9%
FLR
US$48.10
Fluor
7D
-2.9%
1Y
45.7%

FLR: Core Backlog And Cleaner Balance Sheet Will Support 2026 Reset

Analysts have raised their average price target on Fluor by about $4 to $61, citing expectations for stronger core bookings, a cleaner balance sheet, and less drag from NuScale as key supports for the updated view. Analyst Commentary Bullish analysts are leaning into a more constructive view on Fluor, pointing to cleaner financials, easing NuScale related headwinds, and healthier core bookings as reasons to revisit valuation.
ROAD
US$127.55
Construction Partners
7D
10.2%
1Y
73.3%

ROAD: Q1 Execution And Buybacks Will Support Future Compounding Earnings Power

Analysts have nudged their price target higher to about $142 from roughly $138, citing Street research that highlights Construction Partners' recent Q1 performance as a relative bright spot and a business model they view as compounding, despite a rocky aggregates earnings season. Analyst Commentary Street research on Construction Partners has focused on how the latest fiscal Q1 results fit into a tougher aggregates earnings season and what that might mean for the stock's valuation and execution risk.
PHOE
US$16.01
Phoenix Asia Holdings
7D
-7.1%
1Y
n/a
BBCP
US$7.67
Concrete Pumping Holdings
7D
-0.6%
1Y
31.8%