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U.S. Construction Industry Analysis

UpdatedJun 28, 2026
DataAggregated Company Financials
Companies68
  • 7D-1.7%
  • 3M32.6%
  • 1Y84.3%
  • YTD49.5%

Over the last 7 days, the Construction industry has dropped 1.7%, driven by a pullback from Comfort Systems USA of 5.8%. This takes the industry's 12 month performance to a gain of 84%. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Jun 2026US$425.0bUS$180.4bUS$7.6b47.1x55.9x2.4x
Wed, 27 May 2026US$416.4bUS$179.6bUS$7.6b50.3x54.6x2.3x
Fri, 24 Apr 2026US$390.4bUS$172.6bUS$6.7b44.1x58.4x2.3x
Sun, 22 Mar 2026US$328.4bUS$174.0bUS$6.7b31.9x49.1x1.9x
Tue, 17 Feb 2026US$341.8bUS$168.3bUS$10.2b35x33.6x2x
Thu, 15 Jan 2026US$289.1bUS$165.7bUS$10.0b34.6x28.9x1.7x
Sat, 13 Dec 2025US$289.4bUS$165.8bUS$10.0b32.3x28.9x1.7x
Mon, 10 Nov 2025US$275.1bUS$164.5bUS$9.9b33.6x27.8x1.7x
Wed, 08 Oct 2025US$268.2bUS$160.0bUS$9.9b36x27x1.7x
Fri, 05 Sep 2025US$238.1bUS$157.7bUS$10.0b35.5x23.8x1.5x
Sun, 03 Aug 2025US$233.9bUS$156.2bUS$9.7b32.7x24x1.5x
Tue, 01 Jul 2025US$220.4bUS$153.2bUS$7.2b32.4x30.8x1.4x
Thu, 29 May 2025US$201.2bUS$153.2bUS$7.2b30.6x28.1x1.3x
Sat, 26 Apr 2025US$164.8bUS$149.9bUS$6.9b22.8x24x1.1x
Mon, 24 Mar 2025US$160.7bUS$149.6bUS$6.8b24.8x23.7x1.1x
Wed, 19 Feb 2025US$177.2bUS$147.3bUS$6.0b29.7x29.6x1.2x
Fri, 17 Jan 2025US$199.7bUS$146.2bUS$3.9b36x50.8x1.4x
Sun, 15 Dec 2024US$198.6bUS$146.2bUS$3.9b31.2x50.6x1.4x
Tue, 12 Nov 2024US$201.2bUS$145.6bUS$3.8b35.4x52.9x1.4x
Thu, 10 Oct 2024US$181.8bUS$144.7bUS$4.0b34x45.7x1.3x
Sat, 07 Sep 2024US$151.8bUS$144.8bUS$4.0b26.4x38.1x1x
Mon, 05 Aug 2024US$151.9bUS$144.2bUS$3.8b24.4x40.2x1.1x
Wed, 03 Jul 2024US$152.2bUS$141.8bUS$3.4b24.1x44.2x1.1x
Fri, 31 May 2024US$165.0bUS$141.8bUS$3.4b25.9x48x1.2x
Sun, 28 Apr 2024US$152.4bUS$140.4bUS$3.5b24.4x43.6x1.1x
Tue, 26 Mar 2024US$152.8bUS$136.3bUS$3.5b25.2x44.1x1.1x
Thu, 22 Feb 2024US$128.4bUS$133.1bUS$3.6b26.1x35.2x1x
Sat, 20 Jan 2024US$121.3bUS$135.2bUS$3.6b23.2x33.9x0.9x
Mon, 18 Dec 2023US$125.9bUS$135.2bUS$3.6b24.6x35.4x0.9x
Wed, 15 Nov 2023US$108.2bUS$134.9bUS$3.5b22x30.7x0.8x
Fri, 13 Oct 2023US$112.7bUS$130.5bUS$3.4b20.5x33.6x0.9x
Sun, 10 Sep 2023US$120.2bUS$130.5bUS$3.4b21.8x35.7x0.9x
Tue, 08 Aug 2023US$121.4bUS$129.9bUS$3.6b19.4x33.4x0.9x
Thu, 06 Jul 2023US$118.1bUS$126.6bUS$3.2b19.7x36.5x0.9x
Price to Earnings Ratio

36.5x


Total Market Cap: US$118.1bTotal Earnings: US$3.2bTotal Revenue: US$126.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 38.1x202420252026
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 55.9x which is higher than its 3-year average PE of 38.1x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 33% 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-2.52%
Industrials-0.27%
Construction-1.69%
Construction and Engineering-1.69%
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
MTZ MasTecUS$396.254.4%
+US$1.3b		130.4%PE68.7x
DY Dycom IndustriesUS$488.256.9%
+US$949.0m		98.7%PE47.1x
GVA Granite ConstructionUS$160.399.4%
+US$600.2m		72.7%PE37.9x
CDNL Cardinal Infrastructure GroupUS$92.0013.0%
+US$585.3m		n/aPS3.4x
ACA ArcosaUS$144.506.4%
+US$425.2m		64.2%PE32.3x

Latest News

PRIM
US$93.11
Primoris Services
7D
-8.1%
1Y
16.3%
FIX
US$1,854.23
Comfort Systems USA
7D
-5.8%
1Y
246.6%
EME
US$798.10
EMCOR Group
7D
-4.6%
1Y
50.4%
Narrative Update • Jun 26

EME: Data Center And High Tech Projects Will Support Forward Profitability

The analyst price target for EMCOR Group has been adjusted from $900.00 to $1,123.00 as analysts factor in updated assumptions around revenue growth, profit margins, and long term P/E expectations. This revision is supported by recent bullish Street research highlighting the company’s exposure to high tech manufacturing projects and data center development.
MTZ
US$396.25
MasTec
7D
4.4%
1Y
130.4%
Narrative Update • Jun 26

MTZ: Elevated P E And Backlog Risks Will Pressure Future Returns

The updated analyst fair value estimate for MasTec shifts from $325.05 to $282.05, as analysts weigh higher projected revenue growth and margins alongside a lower assumed future P/E. They cite recent price target increases and supportive commentary around the company’s multiyear outlook and backlog visibility.
LGN
US$80.51
Legence
7D
-5.9%
1Y
n/a
Narrative Update • Jun 26

LGN: Future Guidance And Equity Offering Will Shape Balanced Risk Outlook

Analysts have lifted their price target for Legence to $87.25 from $78.70, citing updated assumptions that include slightly refined discount rates, expectations for modestly higher revenue growth, a small improvement in forecast profit margins, and a higher future P/E multiple. What’s in the News for Legence Legence issued earnings guidance for the second quarter of 2026, with total revenues expected in a range of US$1.05b to US$1.1b.
CDNL
US$92.00
Cardinal Infrastructure Group
7D
13.0%
1Y
n/a
ACM
US$71.02
AECOM
7D
3.2%
1Y
-37.0%
Narrative Update • Jun 26

ACM: Defense And Homeland Security Contracts Will Support Future Upside Potential

Analysts now place AECOM's fair value price target at about $133.40, compared with the prior $152.00. The change reflects updated assumptions around revenue growth, profit margins, discount rate, and future P/E expectations.
AGX
US$765.46
Argan
7D
3.6%
1Y
248.3%
GVA
US$160.39
Granite Construction
7D
9.4%
1Y
72.7%
MYRG
US$477.95
MYR Group
7D
3.7%
1Y
161.7%
Narrative Update • Jun 25

MYRG: Backlog Visibility To 2028 Will Confront Rich Future P/E Risk

The analyst price target for MYR Group is now framed closer to $500, reflecting recent Street research that highlights strong electrical T&D and C&I project backdrops, growing backlog visibility, and current valuation premiums that some analysts view as a reason for more balanced expectations. Analyst Commentary Recent Street research on MYR Group reflects a mix of optimism about its project pipeline and caution around how much of that potential may already be reflected in the share price.
APG
US$41.15
APi Group
7D
-3.3%
1Y
21.3%
Seeking Alpha • Jun 24

APi Group: Safety Player Continuing To Execute

Summary APi Group demonstrates strong growth momentum through double-digit organic growth and strategic M&A, notably acquiring Wtech Fire Group and Onyx-Fire Protection Service. APi Group raised full-year sales guidance twice post-acquisitions, now targeting $8.575–$8.775 billion revenue and $1.165–$1.225 billion adjusted EBITDA. Valuation has become more attractive, with shares down from April highs and forward P/E multiples compressing to around 20x on improved earnings outlook. I find APi Group compelling for initiation, supported by robust brands, a proven M&A track record, and realistic prospects of surpassing $10 billion in sales by 2028. Read the full article on Seeking Alpha
PWR
US$687.87
Quanta Services
7D
-2.0%
1Y
80.4%
ACA
US$144.50
Arcosa
7D
6.4%
1Y
64.2%
DY
US$488.25
Dycom Industries
7D
6.9%
1Y
98.7%
Narrative Update • Jun 22

DY: Data Center Projects And Record Backlog Will Support Future Cash Generation

Analysts kept their fair value estimate for Dycom Industries steady at $637.27 per share, making only minimal tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions that support a largely unchanged price target narrative. What’s in the News for Dycom Industries Dycom Industries reported fiscal Q1 2027 revenue of US$1.96b, which was 56% higher year over year and above Wall Street estimates, with adjusted earnings per share coming in 62.5% above expectations.
STRL
US$804.76
Sterling Infrastructure
7D
-6.6%
1Y
247.6%
JLHL
US$14.12
Julong Holding
7D
-64.4%
1Y
213.0%