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U.S. Construction Industry Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies68
  • 7D-2.2%
  • 3M16.7%
  • 1Y41.9%
  • YTD48.5%

Over the last 7 days, the Construction industry has dropped 3.2%, driven by a pullback from EMCOR Group of 13%. Meanwhile, APi Group actually outperformed within the industry, gaining 5.6% in the last week. In the past year, the industry has gained 43%. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025US$274.7bUS$164.3bUS$10.4b34.5x26.5x1.7x
Sat, 04 Oct 2025US$266.4bUS$160.0bUS$9.9b35.9x26.9x1.7x
Mon, 01 Sep 2025US$240.4bUS$157.7bUS$10.0b34.5x24x1.5x
Wed, 30 Jul 2025US$243.1bUS$153.6bUS$7.1b34.2x34.1x1.6x
Fri, 27 Jun 2025US$214.2bUS$153.2bUS$7.2b31.4x29.9x1.4x
Sun, 25 May 2025US$195.7bUS$153.2bUS$7.2b28.2x27.3x1.3x
Tue, 22 Apr 2025US$156.1bUS$149.6bUS$6.8b20.7x23x1x
Thu, 20 Mar 2025US$160.7bUS$149.6bUS$6.8b25x23.7x1.1x
Sat, 15 Feb 2025US$179.1bUS$146.8bUS$4.0b29.6x44.3x1.2x
Mon, 13 Jan 2025US$188.0bUS$146.2bUS$3.9b33x47.9x1.3x
Wed, 11 Dec 2024US$198.1bUS$146.2bUS$3.9b31.8x50.4x1.4x
Fri, 08 Nov 2024US$196.3bUS$145.3bUS$3.9b33.6x50.1x1.4x
Sun, 06 Oct 2024US$180.4bUS$144.7bUS$4.0b32.7x45.4x1.2x
Tue, 03 Sep 2024US$167.7bUS$144.7bUS$4.0b28x42.2x1.2x
Thu, 01 Aug 2024US$164.8bUS$142.8bUS$3.6b27.1x45.6x1.2x
Sat, 29 Jun 2024US$159.5bUS$141.8bUS$3.4b25.1x46.3x1.1x
Mon, 27 May 2024US$166.4bUS$141.8bUS$3.4b26x48.3x1.2x
Wed, 24 Apr 2024US$149.2bUS$139.2bUS$3.3b24.6x45.2x1.1x
Fri, 22 Mar 2024US$147.8bUS$136.3bUS$3.5b25.7x42.7x1.1x
Sun, 18 Feb 2024US$130.7bUS$132.9bUS$3.7b26.3x35.5x1x
Tue, 16 Jan 2024US$122.3bUS$135.2bUS$3.6b23.1x34.2x0.9x
Thu, 14 Dec 2023US$121.3bUS$135.2bUS$3.6b24.6x34.1x0.9x
Sat, 11 Nov 2023US$105.2bUS$134.5bUS$3.6b19.8x29x0.8x
Mon, 09 Oct 2023US$110.5bUS$130.5bUS$3.4b20.3x33x0.8x
Wed, 06 Sep 2023US$121.5bUS$130.4bUS$3.4b21.5x36.2x0.9x
Fri, 04 Aug 2023US$122.5bUS$128.5bUS$3.6b19.2x33.9x1x
Sun, 02 Jul 2023US$119.1bUS$126.6bUS$3.2b19.9x36.9x0.9x
Tue, 30 May 2023US$109.3bUS$126.5bUS$3.2b18.4x33.8x0.9x
Thu, 27 Apr 2023US$103.4bUS$122.8bUS$3.2b21.9x32.2x0.8x
Sat, 25 Mar 2023US$105.1bUS$122.8bUS$3.2b23x32.6x0.9x
Mon, 20 Feb 2023US$109.7bUS$116.3bUS$2.8b22.5x38.9x0.9x
Wed, 18 Jan 2023US$105.5bUS$115.1bUS$2.8b24.4x37.1x0.9x
Fri, 16 Dec 2022US$103.6bUS$115.9bUS$2.9b22.6x35.7x0.9x
Sun, 13 Nov 2022US$105.3bUS$115.6bUS$2.8b27.4x38.1x0.9x
Price to Earnings Ratio

38.1x


Total Market Cap: US$105.3bTotal Earnings: US$2.8bTotal Revenue: US$115.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 36.4x202320242025
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 27.1x which is lower than its 3-year average PE of 36.4x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 55% 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 Market-1.58%
Industrials-1.41%
Construction-2.22%
Construction and Engineering-2.22%
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
APG APi GroupUS$36.385.6%
+US$799.1m		47.6%PE97x
PWR Quanta ServicesUS$453.451.1%
+US$759.1m		45.9%PE66.4x
AGX ArganUS$324.9311.2%
+US$451.8m		105.9%PE38.3x
ACA ArcosaUS$100.557.9%
+US$361.5m		-2.5%PE33.3x
STRL Sterling InfrastructureUS$411.071.9%
+US$358.1m		134.3%PE40x

Latest News

PRIM
US$130.37
Primoris Services
7D
-9.6%
1Y
69.1%
MYRG
US$235.79
MYR Group
7D
4.6%
1Y
57.5%
CTRI
US$21.92
Centuri Holdings
7D
8.2%
1Y
15.2%
GLDD
US$12.58
Great Lakes Dredge & Dock
7D
9.4%
1Y
1.0%
STRL
US$411.07
Sterling Infrastructure
7D
1.9%
1Y
134.3%
PWR
US$453.45
Quanta Services
7D
1.1%
1Y
45.9%
ACA
US$100.55
Arcosa
7D
7.9%
1Y
-2.5%

ACA: Earnings Guidance And Market Multiples Will Drive Future Upside

Analysts have raised their price target for Arcosa from $116 to approximately $118.17 per share. This change reflects updated expectations for future earnings multiples, even as revenue growth and profit margin outlooks moderate.
VMI
US$409.12
Valmont Industries
7D
-2.4%
1Y
17.2%

VMI: Share Repurchase Momentum And Revised Outlook Will Shape Enduring Market Value

Valmont Industries Sees Analyst Price Target Increase Amid Changing Assumptions Analysts have raised their price target for Valmont Industries from $427.50 to $455.00, citing updated forecasts for revenue growth and valuation metrics. What's in the News Valmont Industries completed the repurchase of 182,431 shares, representing 0.91 percent of shares outstanding, for $59.8 million under its buyback program originally announced in February 2025 (Key Developments).
MTZ
US$199.08
MasTec
7D
-10.1%
1Y
41.6%
ACM
US$132.21
AECOM
7D
-1.0%
1Y
15.9%
APG
US$36.38
APi Group
7D
5.6%
1Y
47.6%

APG: Rising Net Margins And Revenue Guidance Will Support Outperformance In 2025

APi Group Price Target Sees Modest Uptick as Analysts Refine Outlook Analysts have slightly raised their price target for APi Group from $41.00 to $41.50. This change reflects improved profit margin forecasts and a lower expected future price-to-earnings ratio.
FIX
US$987.78
Comfort Systems USA
7D
-2.3%
1Y
125.9%
EME
US$675.42
EMCOR Group
7D
-13.1%
1Y
34.6%
AGX
US$324.93
Argan
7D
11.2%
1Y
105.9%

Power Demand Cycle And Project Backlog Will Drive Multi-Year Expansion

Argan's analyst price target has risen significantly, with projections now at $315 from the prior $220. Analysts cite surging demand for AI-driven power infrastructure and robust project backlogs as key factors supporting a more optimistic outlook.
WSC
US$20.79
WillScot Holdings
7D
-6.2%
1Y
-47.8%

Analyst Commentary Highlights Mixed Outlook and Lower Price Target for WillScot Holdings

WillScot Holdings' analyst price target has been revised downward from approximately $31.44 to $30.70 per share, as analysts cite ongoing mixed demand trends along with weaker expectations for seasonal and retail storage performance. Analyst Commentary Recent analyst reports on WillScot Holdings reflect a wide range of views about the company's current positioning and outlook.
FLR
US$47.41
Fluor
7D
-3.9%
1Y
-19.3%