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U.S. Construction Industry Analysis

UpdatedFeb 02, 2026
DataAggregated Company Financials
Companies69
  • 7D0.9%
  • 3M6.9%
  • 1Y56.8%
  • YTD8.7%

The Construction is pretty flat in the last 7 days, but Phoenix Asia Holdings has stood out, gaining 836%. As for the the longer term, the industry is up 57% over the past 12 months. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Feb 2026US$303.3bUS$165.9bUS$10.0b34.8x30.2x1.8x
Wed, 31 Dec 2025US$272.4bUS$165.7bUS$10.0b29.9x27.2x1.6x
Fri, 28 Nov 2025US$278.7bUS$165.4bUS$10.0b33.8x28x1.7x
Sun, 26 Oct 2025US$284.5bUS$160.7bUS$10.1b35.3x28.2x1.8x
Tue, 23 Sep 2025US$257.9bUS$160.0bUS$9.9b37.2x26x1.6x
Thu, 21 Aug 2025US$236.4bUS$157.6bUS$10.0b32.6x23.7x1.5x
Sat, 19 Jul 2025US$229.4bUS$153.2bUS$7.2b33.3x32x1.5x
Mon, 16 Jun 2025US$206.6bUS$153.2bUS$7.2b29.7x28.8x1.3x
Wed, 14 May 2025US$192.9bUS$152.9bUS$7.2b30.3x26.9x1.3x
Fri, 11 Apr 2025US$159.2bUS$149.6bUS$6.8b22x23.5x1.1x
Sun, 09 Mar 2025US$153.2bUS$149.6bUS$6.8b23.1x22.7x1x
Tue, 04 Feb 2025US$187.9bUS$146.2bUS$3.9b31.7x47.6x1.3x
Thu, 02 Jan 2025US$186.1bUS$146.2bUS$3.9b32.1x47.4x1.3x
Sat, 30 Nov 2024US$207.4bUS$146.1bUS$3.9b35.5x53.1x1.4x
Mon, 28 Oct 2024US$181.9bUS$145.2bUS$4.2b32.3x43.8x1.3x
Wed, 25 Sep 2024US$178.4bUS$144.8bUS$4.0b31.6x44.8x1.2x
Fri, 23 Aug 2024US$163.0bUS$144.7bUS$4.0b25.4x41x1.1x
Sun, 21 Jul 2024US$159.9bUS$141.8bUS$3.4b26.5x46.4x1.1x
Tue, 18 Jun 2024US$161.1bUS$141.8bUS$3.4b24.8x46.8x1.1x
Thu, 16 May 2024US$159.7bUS$141.8bUS$3.4b25.7x46.3x1.1x
Sat, 13 Apr 2024US$151.0bUS$136.3bUS$3.5b24.5x43.7x1.1x
Mon, 11 Mar 2024US$145.9bUS$136.2bUS$3.5b25.9x42.1x1.1x
Wed, 07 Feb 2024US$125.5bUS$135.6bUS$3.6b24.2x34.5x0.9x
Fri, 05 Jan 2024US$120.6bUS$135.1bUS$3.6b24.4x33.8x0.9x
Sun, 03 Dec 2023US$117.8bUS$135.1bUS$3.5b22.9x33.3x0.9x
Tue, 31 Oct 2023US$103.9bUS$131.2bUS$3.3b20.2x31.1x0.8x
Thu, 28 Sep 2023US$114.7bUS$130.5bUS$3.4b20.6x34.2x0.9x
Sat, 26 Aug 2023US$120.4bUS$130.4bUS$3.4b21.4x35.9x0.9x
Mon, 24 Jul 2023US$121.4bUS$126.6bUS$3.2b21x37.6x1x
Wed, 21 Jun 2023US$114.9bUS$126.6bUS$3.2b19.6x35.6x0.9x
Fri, 19 May 2023US$110.1bUS$126.4bUS$3.2b20.4x34.3x0.9x
Sun, 16 Apr 2023US$105.7bUS$122.7bUS$3.2b21.7x32.7x0.9x
Tue, 14 Mar 2023US$106.2bUS$122.9bUS$3.3b22.8x31.9x0.9x
Thu, 09 Feb 2023US$107.9bUS$115.4bUS$2.8b21.7x38.2x0.9x
Price to Earnings Ratio

38.2x


Total Market Cap: US$107.9bTotal Earnings: US$2.8bTotal Revenue: US$115.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 35.7x202420252026
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 30.2x which is lower than its 3-year average PE of 35.7x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 53% 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-0.23%
Industrials-0.041%
Construction0.92%
Construction and Engineering0.92%
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
PHOE Phoenix Asia HoldingsUS$133.12836.1%
+US$2.6b		n/aPE2801.7x
EME EMCOR GroupUS$720.732.0%
+US$620.5m		60.7%PE28.5x
PWR Quanta ServicesUS$474.630.8%
+US$575.6m		57.3%PE69.5x
FIX Comfort Systems USAUS$1.14k1.3%
+US$512.1m		167.4%PE48x
TPC Tutor PeriniUS$78.892.0%
+US$81.8m		246.9%PS0.8x

Latest News

FIX
US$1,142.10
Comfort Systems USA
7D
1.3%
1Y
167.4%
EME
US$720.73
EMCOR Group
7D
2.0%
1Y
60.7%
ECG
US$88.49
Everus Construction Group
7D
-3.4%
1Y
32.8%
PWR
US$474.63
Quanta Services
7D
0.8%
1Y
57.3%
ROAD
US$109.88
Construction Partners
7D
-2.6%
1Y
37.7%
GVA
US$120.74
Granite Construction
7D
1.0%
1Y
39.5%
IESC
US$380.29
IES Holdings
7D
-18.8%
1Y
72.9%
DY
US$364.39
Dycom Industries
7D
-2.4%
1Y
96.5%

DY: Index Shift And Updated Guidance Will Shape A Balanced Outlook

Narrative Update Analysts have lifted their price target for Dycom Industries to about US$405.55 from roughly US$392.40, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News Dycom Industries, Inc.
FLR
US$46.19
Fluor
7D
1.1%
1Y
-2.0%

FLR: Earnings Execution And Asset Monetization Will Support Future Share Price Upside

Narrative Update on Fluor Analysts have lifted their price targets on Fluor by about US$4 to US$5 per share, citing the recent Q3 earnings beat, raised guidance, stronger profits in the ES segment, progress on the Mexico project and expectations around NuScale Power monetization and continued repurchases. Together, these factors support a slightly higher future P/E and modestly adjusted growth and margin assumptions in our model.
IMSR
US$9.11
Terrestrial Energy
7D
-13.2%
1Y
-9.6%

Terrestrial Energy: Compelling Nuclear Play Gaining Momentum For DOE Deals

Jan 24
TPC
US$78.89
Tutor Perini
7D
2.0%
1Y
246.9%

TPC: Honolulu Rail Wins And Buybacks Will Drive Infrastructure Upside

Analysts have nudged their price target for Tutor Perini higher to US$86 from US$85, citing slightly adjusted assumptions around the discount rate, revenue growth, profit margins and future P/E as the key drivers of this change. What's in the News Tutor Perini announced a change order valued at approximately US$53 million for the City Center Guideway and Stations Project in Honolulu, HI, to design the rail segment extending the current terminal and connecting Kaka'ako to Ala Moana, including two additional stations along the alignment (Key Developments).
APG
US$41.57
APi Group
7D
-1.9%
1Y
65.5%

APG: Raised 2025 Guidance And Q4 Outlook Revisions Will Shape Upside Potential

Analysts lifted their APi Group price target to about US$44.90 from roughly US$43.40, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E, in line with recent Street target increases such as the move to US$49 cited in Q4 outlook research. Analyst Commentary Recent target moves toward US$49 suggest that bullish analysts see room for APi Group's shares to better align with their updated assumptions on fair value, while still acknowledging execution and market risks.
LMB
US$85.98
Limbach Holdings
7D
4.6%
1Y
-4.3%

LMB: Share Repurchase Plan Will Support Bullish Long-Term Earnings Outlook

Analysts have kept their price target for Limbach Holdings steady at US$111.00, as small tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions did not materially change their overall view of the stock’s valuation. What's in the News The Board of Directors authorized a share buyback plan on December 15, 2025, indicating approval for Limbach Holdings to repurchase its own stock over time (Key Developments).
MTZ
US$240.48
MasTec
7D
-2.0%
1Y
69.8%

MTZ: Backlog And Margin Hopes Will Increase Risk Of Future Disappointment

Narrative Update The analyst price target for MasTec in our framework has moved from about US$139 to about US$200, reflecting analysts' higher assumed margins, slightly stronger revenue growth expectations, and an outlook that is supported by recent Street research citing potential margin expansion across communications, pipeline, and clean energy work as well as a healthier multi year project backlog. Analyst Commentary Recent Street research has pushed MasTec price targets into a higher range, with firms citing a mix of margin potential, communications and pipeline work, and a solid multi year project backlog as key supports for their updated views.
LGN
US$46.91
Legence
7D
-8.3%
1Y
n/a
PHOE
US$133.12
Phoenix Asia Holdings
7D
836.1%
1Y
n/a