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U.S. Construction Industry Analysis

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies65
  • 7D4.9%
  • 3M26.5%
  • 1Y134.0%
  • YTD37.6%

Over the last 7 days, the Construction industry has risen 4.9%, driven by gains in Quanta Services and Comfort Systems USA of 7.8% and 10%, respectively. In the same time, AECOM was down 6.0%. In the last 12 months, the industry was up 134%. 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
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
Sat, 03 Jun 2023US$111.0bUS$126.6bUS$3.2b18.9x34.3x0.9x
Mon, 01 May 2023US$108.0bUS$123.7bUS$3.3b22.9x32.8x0.9x
Price to Earnings Ratio

32.8x


Total Market Cap: US$108.0bTotal Earnings: US$3.3bTotal Revenue: US$123.7bTotal 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 57.3x which is higher than its 3-year average PE of 36.7x.
  • The 3-year average PS ratio of 1.3x 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 Market1.73%
Industrials0.43%
Construction4.90%
Construction and Engineering4.90%
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
PWR Quanta ServicesUS$633.447.8%
+US$6.9b		124.5%PE92.4x
FIX Comfort Systems USAUS$1.77k10.5%
+US$5.9b		371.5%PE60.9x
EME EMCOR GroupUS$873.1110.2%
+US$3.5b		117.9%PE30.5x
IESC IES HoldingsUS$586.1721.3%
+US$2.0b		199.5%PE34.5x
APG APi GroupUS$48.9410.3%
+US$2.0b		96.9%PS2.7x

Latest News

APG
US$48.94
APi Group
7D
10.3%
1Y
96.9%
VMI
US$494.44
Valmont Industries
7D
23.1%
1Y
66.8%

Results: Valmont Industries, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts

Apr 23
Results: Valmont Industries, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
EME
US$873.11
EMCOR Group
7D
10.2%
1Y
117.9%
STRL
US$495.67
Sterling Infrastructure
7D
12.4%
1Y
239.5%
FLR
US$47.62
Fluor
7D
-0.5%
1Y
33.8%

FLR: Backlog Inflection And New Energy Work Will Drive Fresh Start

Fluor's analyst fair value estimate edges down from $54.22 to $53.50 as analysts factor in a slightly higher discount rate. They still highlight raised price targets tied to expectations for stronger core bookings and reduced NuScale related noise.
ACM
US$80.46
AECOM
7D
-6.0%
1Y
-17.6%
MTZ
US$382.88
MasTec
7D
6.9%
1Y
211.7%
FIX
US$1,773.91
Comfort Systems USA
7D
10.5%
1Y
371.5%

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$122.58
Granite Construction
7D
-0.7%
1Y
53.2%

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.
SLND
US$1.03
Southland Holdings
7D
-12.0%
1Y
-68.3%

SLND: Stable Assumptions And Lower Price Level Will Support Higher Upside

Analysts have lowered their price target on Southland Holdings by $5, citing updated views on the company that are now reflected in largely unchanged fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts view the $5 reduction in the price target as a fine tuning that still aligns with their existing fair value work, suggesting their core thesis on valuation remains intact.
PWR
US$633.44
Quanta Services
7D
7.8%
1Y
124.5%

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.
HUHU
US$9.81
HUHUTECH International Group
7D
-6.7%
1Y
99.0%
PHOE
US$16.80
Phoenix Asia Holdings
7D
-4.5%
1Y
n/a
CDNL
US$48.54
Cardinal Infrastructure Group
7D
-2.6%
1Y
n/a
IESC
US$586.17
IES Holdings
7D
21.3%
1Y
199.5%

IES Holdings (IESC): The Infrastructure Backbone of the AI Era

IES Holdings (IESC) is currently trading at $472.00 USD on the NASDAQ as of March 23, 2026, marking an 8.02% surge during today's session. The company has a market capitalization of $9.41 billion , following a series of stellar earnings reports that have repositioned the firm from a traditional electrical contractor to a critical player in the global data center build-out.
JLHL
US$9.56
Julong Holding
7D
-1.6%
1Y
n/a