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U.S. Construction Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies66
  • 7D-0.3%
  • 3M28.7%
  • 1Y98.9%
  • YTD51.0%

The Construction is pretty flat in the last 7 days, but Sterling Infrastructure has stood out, gaining 22%. The past year has been better, since the industry has gained 99% in that time. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026US$424.5bUS$180.3bUS$7.7b48.4x55.5x2.4x
Sat, 02 May 2026US$426.0bUS$177.7bUS$7.1b46.3x59.8x2.4x
Mon, 30 Mar 2026US$333.9bUS$173.4bUS$6.7b34x49.5x1.9x
Wed, 25 Feb 2026US$350.2bUS$170.4bUS$6.7b33.6x52x2.1x
Fri, 23 Jan 2026US$305.0bUS$165.7bUS$10.0b37.6x30.5x1.8x
Sun, 21 Dec 2025US$271.1bUS$165.7bUS$10.0b32x27.1x1.6x
Tue, 18 Nov 2025US$267.3bUS$164.7bUS$9.9b32.5x27.1x1.6x
Thu, 16 Oct 2025US$270.9bUS$160.0bUS$9.9b36.8x27.3x1.7x
Sat, 13 Sep 2025US$252.1bUS$160.0bUS$10.0b35.3x25.3x1.6x
Mon, 11 Aug 2025US$239.2bUS$157.4bUS$9.9b33.4x24.1x1.5x
Wed, 09 Jul 2025US$223.6bUS$153.2bUS$7.2b31.2x31.2x1.5x
Fri, 06 Jun 2025US$205.5bUS$153.2bUS$7.2b32x28.6x1.3x
Sun, 04 May 2025US$181.8bUS$152.2bUS$7.0b24.3x25.8x1.2x
Tue, 01 Apr 2025US$153.2bUS$149.6bUS$6.8b21.4x22.6x1x
Thu, 27 Feb 2025US$166.0bUS$149.4bUS$6.7b27.1x24.6x1.1x
Sat, 25 Jan 2025US$211.7bUS$146.3bUS$3.9b36.1x53.9x1.4x
Mon, 23 Dec 2024US$191.2bUS$146.2bUS$3.9b29.2x48.7x1.3x
Wed, 20 Nov 2024US$197.2bUS$145.7bUS$3.9b34.7x50.7x1.4x
Fri, 18 Oct 2024US$188.0bUS$144.7bUS$4.0b35.1x47.3x1.3x
Sun, 15 Sep 2024US$166.2bUS$144.8bUS$4.0b29x41.8x1.1x
Tue, 13 Aug 2024US$156.7bUS$145.1bUS$4.0b24.5x39.4x1.1x
Thu, 11 Jul 2024US$152.8bUS$141.8bUS$3.4b24.4x44.4x1.1x
Sat, 08 Jun 2024US$159.4bUS$141.8bUS$3.4b25x46.3x1.1x
Mon, 06 May 2024US$154.1bUS$141.1bUS$3.4b24.9x45.3x1.1x
Wed, 03 Apr 2024US$153.1bUS$136.2bUS$3.5b24.7x44.3x1.1x
Fri, 01 Mar 2024US$139.5bUS$135.9bUS$3.5b26.5x39.7x1x
Sun, 28 Jan 2024US$121.6bUS$135.2bUS$3.6b24.4x34x0.9x
Tue, 26 Dec 2023US$126.8bUS$135.1bUS$3.6b25.4x35.5x0.9x
Thu, 23 Nov 2023US$113.1bUS$135.0bUS$3.5b22.3x32x0.8x
Sat, 21 Oct 2023US$104.3bUS$130.5bUS$3.4b19.2x31.1x0.8x
Mon, 18 Sep 2023US$118.1bUS$130.5bUS$3.4b20.7x35.2x0.9x
Wed, 16 Aug 2023US$121.3bUS$130.7bUS$3.3b21.5x36.5x0.9x
Fri, 14 Jul 2023US$121.1bUS$126.6bUS$3.2b20.5x37.5x1x
Sun, 11 Jun 2023US$113.9bUS$126.6bUS$3.2b19.3x35.3x0.9x
Price to Earnings Ratio

35.3x


Total Market Cap: US$113.9bTotal Earnings: US$3.2bTotal Revenue: US$126.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 37.6x202420252026
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 55.5x which is higher than its 3-year average PE of 37.6x.
  • 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 Market0.35%
Industrials-0.81%
Construction-0.28%
Construction and Engineering-0.28%
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
STRL Sterling InfrastructureUS$957.0322.4%
+US$5.4b		393.8%PE84.7x
IESC IES HoldingsUS$724.454.4%
+US$602.7m		168.4%PE38.2x
VMI Valmont IndustriesUS$547.144.8%
+US$482.8m		70.1%PE29.9x
FLR FluorUS$50.166.0%
+US$399.5m		17.0%PE20x
APG APi GroupUS$42.261.6%
+US$294.6m		33.5%PS2.2x

Latest News

MWH
US$34.87
SOLV Energy
7D
-8.5%
1Y
n/a
DY
US$484.11
Dycom Industries
7D
-8.5%
1Y
104.8%
STRL
US$957.03
Sterling Infrastructure
7D
22.4%
1Y
393.8%
FIX
US$1,850.04
Comfort Systems USA
7D
-0.9%
1Y
271.0%
MYRG
US$441.35
MYR Group
7D
-6.5%
1Y
175.3%
CDNL
US$61.91
Cardinal Infrastructure Group
7D
24.7%
1Y
n/a
EME
US$839.54
EMCOR Group
7D
-1.8%
1Y
73.9%
PWR
US$715.67
Quanta Services
7D
-2.4%
1Y
99.3%
Narrative Update • Jun 02

PWR: Power Supercycle And AI Grid Demand Will Test Premium Backlog Visibility

Analysts have lifted the Quanta Services fair value estimate from $593.30 to $761.35. This reflects updated assumptions for slightly higher revenue growth, modestly stronger profit margins, a higher future P/E, and supportive research that cites the company’s exposure to power generation, grid modernization, and infrastructure supporting electrification and AI demand.
FLR
US$50.16
Fluor
7D
6.0%
1Y
17.0%
Narrative Update • Jun 02

FLR: Backlog Strength And Nuclear Pipeline Will Offset Near Term Setbacks

Analysts now mark Fluor's fair value at $50.69, down from $53.50, reflecting updated assumptions on discount rate, growth, margins, and future P/E after mixed recalibrations to Street price targets, including recent moves from Baird and Citi. Analyst Commentary Recent research pieces on Fluor point to a split view, with some analysts focusing on execution and earnings power, and others stressing valuation risk and project uncertainty.
VMI
US$547.14
Valmont Industries
7D
4.8%
1Y
70.1%
GVA
US$139.03
Granite Construction
7D
3.3%
1Y
55.0%
Narrative Update • Jun 01

GVA: Improved Profitability And Infrastructure Exposure Will Support Future Upside

Granite Construction's analyst price target has increased from $135.50 to $167.20. Analysts cite improved profitability, stronger cash conversion, and exposure to public infrastructure, as well as high margin federal and data center heavy civil services, as key drivers for the updated view.
APG
US$42.26
APi Group
7D
1.6%
1Y
33.5%
Narrative Update • May 30

APG: Recurring Services And Higher Margins Will Support Measured Future Upside

APi Group’s analyst price target moves from $52 to $53.20, with analysts pointing to updated assumptions around profit margins, discount rates, and future P/E multiples as key drivers of the change. Analyst Commentary Recent Street research on APi Group points to a cluster of modest price target increases, with several bullish analysts adjusting their models by US$1 to US$2.
MTZ
US$369.66
MasTec
7D
-4.6%
1Y
134.5%
Narrative Update • May 28

MTZ: Backlog And Data Center Projects Will Support Future Margin Expansion

Analysts have lifted the fair value estimate for MasTec from $400 to $545, citing higher long term growth assumptions, supported by rising Street price targets, upbeat 2028 revenue and earnings goals shared at recent analyst and investor days, and increased backlog that they say provides visibility through at least 2027. Analyst Commentary Recent research updates show a cluster of bullish analysts lifting price targets on MasTec, often after meetings with management or detailed analyst and investor day presentations.
IESC
US$724.45
IES Holdings
7D
4.4%
1Y
168.4%
ROAD
US$110.40
Construction Partners
7D
-5.1%
1Y
6.1%
JLHL
US$34.44
Julong Holding
7D
53.5%
1Y
n/a