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U.S. Construction Industry Analysis

UpdatedNov 23, 2025
DataAggregated Company Financials
Companies68
  • 7D-2.9%
  • 3M6.6%
  • 1Y24.6%
  • YTD36.3%

Over the last 7 days, the Construction industry has dropped 2.9%, driven by AECOM declining 22%. On the other hand Dycom Industries is actually up 12%. This takes the industry's 12 month performance to a gain of 25%. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Nov 2025US$257.7bUS$165.4bUS$10.0b31.2x25.9x1.6x
Tue, 21 Oct 2025US$274.3bUS$160.0bUS$9.9b35.3x27.7x1.7x
Thu, 18 Sep 2025US$249.3bUS$160.0bUS$10.0b35.1x25x1.6x
Sat, 16 Aug 2025US$237.3bUS$157.6bUS$10.0b33x23.8x1.5x
Mon, 14 Jul 2025US$224.4bUS$153.2bUS$7.2b33.2x31.3x1.5x
Wed, 11 Jun 2025US$206.9bUS$153.2bUS$7.2b29.1x28.8x1.4x
Fri, 09 May 2025US$183.5bUS$152.7bUS$7.2b26.6x25.7x1.2x
Sun, 06 Apr 2025US$141.5bUS$149.6bUS$6.8b20.2x20.8x0.9x
Tue, 04 Mar 2025US$165.7bUS$149.6bUS$6.7b25x24.6x1.1x
Thu, 30 Jan 2025US$181.8bUS$146.2bUS$3.9b32x46x1.2x
Sat, 28 Dec 2024US$192.6bUS$146.2bUS$3.9b32.7x49.1x1.3x
Mon, 25 Nov 2024US$204.7bUS$146.1bUS$3.9b34.8x52.4x1.4x
Wed, 23 Oct 2024US$189.8bUS$144.7bUS$4.0b34.8x47.7x1.3x
Fri, 20 Sep 2024US$168.8bUS$144.8bUS$4.0b31.6x42.4x1.2x
Sun, 18 Aug 2024US$160.7bUS$144.5bUS$4.0b25.6x40.4x1.1x
Tue, 16 Jul 2024US$162.2bUS$141.8bUS$3.4b27x47.1x1.1x
Thu, 13 Jun 2024US$159.5bUS$141.8bUS$3.4b25.7x46.3x1.1x
Sat, 11 May 2024US$162.1bUS$141.8bUS$3.5b26x46.7x1.1x
Mon, 08 Apr 2024US$154.7bUS$136.2bUS$3.5b25.2x44.7x1.1x
Wed, 06 Mar 2024US$144.4bUS$136.2bUS$3.5b25.7x41.5x1.1x
Fri, 02 Feb 2024US$125.2bUS$135.2bUS$3.6b24.7x35x0.9x
Sun, 31 Dec 2023US$127.3bUS$135.1bUS$3.6b25.5x35.6x0.9x
Tue, 28 Nov 2023US$114.1bUS$135.0bUS$3.5b21.8x32.4x0.8x
Thu, 26 Oct 2023US$103.8bUS$130.5bUS$3.4b19.3x30.9x0.8x
Sat, 23 Sep 2023US$114.1bUS$130.5bUS$3.4b20.3x34x0.9x
Mon, 21 Aug 2023US$119.9bUS$130.4bUS$3.3b20.9x36x0.9x
Wed, 19 Jul 2023US$122.1bUS$126.6bUS$3.2b20.8x37.8x1x
Fri, 16 Jun 2023US$114.8bUS$126.6bUS$3.2b19.9x35.5x0.9x
Sun, 14 May 2023US$108.1bUS$126.3bUS$3.2b18.7x33.9x0.9x
Tue, 11 Apr 2023US$104.0bUS$122.8bUS$3.2b24.1x32.2x0.8x
Thu, 09 Mar 2023US$113.2bUS$122.9bUS$3.3b22.9x34x0.9x
Sat, 04 Feb 2023US$108.2bUS$115.2bUS$2.8b25.7x38x0.9x
Mon, 02 Jan 2023US$103.5bUS$115.9bUS$2.9b23.7x35.7x0.9x
Wed, 30 Nov 2022US$104.7bUS$115.8bUS$2.9b21.4x35.9x0.9x
Price to Earnings Ratio

35.9x


Total Market Cap: US$104.7bTotal Earnings: US$2.9bTotal Revenue: US$115.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 36.3x202320242025
Current Industry PE
  • Investors are pessimistic on the American Construction industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 26.0x which is lower than its 3-year average PE of 36.3x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 51% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market-2.02%
Industrials-1.81%
Construction-2.89%
Construction and Engineering-2.89%
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
DY Dycom IndustriesUS$326.4912.1%
+US$1.0b		81.1%PE31.8x
IESC IES HoldingsUS$371.191.8%
+US$128.7m		33.5%PE24.3x
PWR Quanta ServicesUS$430.150.2%
+US$126.7m		25.8%PE63x
TPC Tutor PeriniUS$60.943.1%
+US$98.1m		113.7%PS0.6x
ACA ArcosaUS$102.462.0%
+US$97.1m		-7.3%PE33.9x

Latest News

ACM
US$103.52
AECOM
7D
-22.5%
1Y
-11.0%
TPC
US$60.94
Tutor Perini
7D
3.1%
1Y
113.7%
EME
US$581.58
EMCOR Group
7D
-6.2%
1Y
15.2%

EME: U.S. Reshoring Will Drive Demand Despite Margin Pressures

EMCOR Group's analyst price target was lowered by $5 to $713. Analysts cited near-term margin pressures in U.S. Electrical operations, despite solid Q3 performance and raised 2025 guidance.
MYRG
US$203.61
MYR Group
7D
-11.3%
1Y
34.8%

MYRG: Transmission And Distribution Upswing Will Drive Stronger Project Momentum

Analysts have increased MYR Group's fair value estimate by $10.40 to $238.40. This change reflects improved prospects in transmission and distribution spending, as well as stronger project bidding activity.
ROAD
US$101.16
Construction Partners
7D
-5.3%
1Y
1.2%

ROAD: Revenue Expansion In Houston Metro Area Will Drive Future Upside

Analysts have updated their price target for Construction Partners from $131.17 to $122.50. This reflects a more cautious outlook, even with improved guidance and continued monitoring of market activity.
STRL
US$315.10
Sterling Infrastructure
7D
-7.0%
1Y
60.3%

STRL: Expanding E-Infrastructure Backlog Will Drive Earnings Momentum Ahead

Analysts have raised their price target for Sterling Infrastructure from $390 to approximately $453, citing stronger revenue growth and improving profit margins. This increased confidence is attributed to the company’s strategic evolution and expanding project backlog.
PWR
US$430.15
Quanta Services
7D
0.2%
1Y
25.8%

PWR: Expanding Power Generation Market Exposure Will Support Steady Outlook Ahead

Quanta Services’ analyst price target increased by nearly $9 to $472.80, as analysts cite robust Q3 results and expanding opportunities in power generation and infrastructure solutions as supporting factors. Analyst Commentary Recent analyst reports on Quanta Services highlight a strong consensus around the company’s robust execution and growth prospects, though a few note areas that may warrant caution for investors.
DY
US$326.49
Dycom Industries
7D
12.1%
1Y
81.1%
ECG
US$82.48
Everus Construction Group
7D
-8.5%
1Y
26.8%
ACA
US$102.46
Arcosa
7D
2.0%
1Y
-7.3%

ACA: Revenue Range Update Will Sustain Momentum Into 2025

Analysts have modestly raised their price target for Arcosa from $118.17 to $119.83 per share, citing incremental adjustments in their financial projections and updated market assumptions. What's in the News Arcosa, Inc.
MTZ
US$193.08
MasTec
7D
0.4%
1Y
35.8%

MTZ: Order Pipeline Strength And Margin Expansion Will Drive Outperformance

MasTec’s analyst consensus price target increased from $238 to $246.67 per share, as analysts cite stronger order pipelines, margin improvement prospects, and growing opportunities across energy and utility segments in support of the raised valuations. Analyst Commentary Recent analyst activity reflects a notable increase in optimism around MasTec, as reflected in multiple upward price target revisions and positive outlooks for the company's growth prospects, operational execution, and end market momentum.
FLR
US$40.05
Fluor
7D
-5.5%
1Y
-28.2%
IESC
US$371.19
IES Holdings
7D
1.8%
1Y
33.5%
GVA
US$103.85
Granite Construction
7D
1.3%
1Y
4.6%

Shareholders Can Be Confident That Granite Construction's (NYSE:GVA) Earnings Are High Quality

Nov 13
Shareholders Can Be Confident That Granite Construction's (NYSE:GVA) Earnings Are High Quality
FIX
US$894.08
Comfort Systems USA
7D
-1.7%
1Y
82.1%

FIX: Robust Demand From U.S. Manufacturing Reshoring Will Drive Continued Momentum

Analysts have increased their price target for Comfort Systems USA from $1,007.80 to $1,132.80. They cite stronger-than-expected revenue growth and continued momentum driven by robust industry demand and company performance.
MAGH
US$4.71
Magnitude International
7D
95.4%
1Y
n/a