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U.S. Construction Industry Analysis

UpdatedSep 23, 2025
DataAggregated Company Financials
Companies67
  • 7D4.4%
  • 3M19.9%
  • 1Y48.2%
  • YTD38.3%

In the last week, the Construction industry is up 3.4%, with Sterling Infrastructure up 12%. Meanwhile, Centuri Holdings actually underperformed within the industry, shrinking 7.5% in the last week. This takes the industry's 12 month performance to a gain of 46%. 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
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
Sat, 07 Jan 2023US$101.0bUS$115.1bUS$2.8b23.9x35.5x0.9x
Mon, 05 Dec 2022US$109.1bUS$115.8bUS$2.9b22.3x37.5x0.9x
Wed, 02 Nov 2022US$101.6bUS$112.5bUS$2.9b28.1x35.4x0.9x
Fri, 30 Sep 2022US$89.0bUS$111.4bUS$2.8b25.8x32.3x0.8x
Price to Earnings Ratio

32.3x


Total Market Cap: US$89.0bTotal Earnings: US$2.8bTotal Revenue: US$111.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Construction Industry Price to Earnings3Y Average 36.7x202320242025
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 26.0x which is lower than its 3-year average PE of 36.7x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
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 Market1.31%
Industrials1.31%
Construction4.41%
Construction and Engineering4.41%
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$396.022.7%
+US$1.5b		33.7%PE60.7x
FIX Comfort Systems USAUS$821.625.1%
+US$1.4b		112.0%PE41.8x
STRL Sterling InfrastructureUS$367.3913.8%
+US$1.4b		146.7%PE39.2x
EME EMCOR GroupUS$655.834.3%
+US$1.2b		50.7%PE26.6x
MTZ MasTecUS$207.077.2%
+US$1.1b		65.1%PE60.5x

Latest News

EME
US$655.83
EMCOR Group
7D
4.3%
1Y
50.7%
VMI
US$375.53
Valmont Industries
7D
-0.6%
1Y
31.1%
MTZ
US$207.07
MasTec
7D
7.2%
1Y
65.1%

Grid Modernization And Fiber Build-Out Will Empower Infrastructure Evolution

Analysts have raised MasTec’s price target to $211.79, citing accelerating growth in core end markets, robust backlog momentum, and improved operational execution, while shares continue to trade at a relative discount. Analyst Commentary Bullish analysts cite accelerating activity and favorable trends in key end markets, such as gas infrastructure, electric utilities, data centers, renewables, and fiber, supporting long-term growth.
ACM
US$132.93
AECOM
7D
4.1%
1Y
30.4%
FIX
US$821.62
Comfort Systems USA
7D
5.1%
1Y
112.0%

Modular Construction And Data Center Demand Will Drive Progress

Analysts raised their price target for Comfort Systems USA to $800.20, citing the company's strong positioning in U.S industrial reshoring trends, robust Q2 results, and improved revenue growth outlook for 2025. Analyst Commentary Bullish analysts highlight Comfort Systems USA's strategic position as a key beneficiary of the U.S. industrial reshoring policy, which is expected to drive sustained demand for skilled trades and services.
CTRI
US$21.39
Centuri Holdings
7D
-7.4%
1Y
29.4%
PWR
US$396.02
Quanta Services
7D
2.7%
1Y
33.7%

We Think Quanta Services (NYSE:PWR) Can Manage Its Debt With Ease

Sep 11
We Think Quanta Services (NYSE:PWR) Can Manage Its Debt With Ease
SOL
US$1.88
Emeren Group
7D
-1.1%
1Y
-19.3%

Battery Storage Projects Will Open Markets In Europe And China

The sharp upward revision in Emeren Group's price target reflects a substantial improvement in projected net profit margin and accelerated consensus revenue growth, lifting the fair value estimate from $4.50 to $7.00. What's in the News Special/Extraordinary Shareholders Meeting scheduled in Raleigh, NC.
STRL
US$367.39
Sterling Infrastructure
7D
13.8%
1Y
146.7%

Investors Shouldn't Overlook Sterling Infrastructure's (NASDAQ:STRL) Impressive Returns On Capital

Sep 09
Investors Shouldn't Overlook Sterling Infrastructure's (NASDAQ:STRL) Impressive Returns On Capital
SHIM
US$2.81
Shimmick
7D
-6.6%
1Y
2.9%
DY
US$281.14
Dycom Industries
7D
10.0%
1Y
42.6%

Calculating The Fair Value Of Dycom Industries, Inc. (NYSE:DY)

Sep 08
Calculating The Fair Value Of Dycom Industries, Inc. (NYSE:DY)
ROAD
US$136.74
Construction Partners
7D
8.2%
1Y
91.9%

Construction Partners, Inc.'s (NASDAQ:ROAD) 25% Jump Shows Its Popularity With Investors

Sep 05
Construction Partners, Inc.'s (NASDAQ:ROAD) 25% Jump Shows Its Popularity With Investors
WSC
US$22.20
WillScot Holdings
7D
-4.8%
1Y
-45.1%
FBGL
US$0.64
FBS Global
7D
-12.2%
1Y
n/a

Insufficient Growth At FBS Global Limited (NASDAQ:FBGL) Hampers Share Price

Aug 13
Insufficient Growth At FBS Global Limited (NASDAQ:FBGL) Hampers Share Price
ONEG
US$10.85
OneConstruction Group
7D
-14.0%
1Y
n/a
HUHU
US$5.48
HUHUTECH International Group
7D
-31.4%
1Y
n/a

Market Participants Recognise HUHUTECH International Group Inc.'s (NASDAQ:HUHU) Revenues Pushing Shares 63% Higher

Jul 04
Market Participants Recognise HUHUTECH International Group Inc.'s (NASDAQ:HUHU) Revenues Pushing Shares 63% Higher