NYSE: CRH · Construction Materials
CRH
CRH, incorporated in Ireland, supplies building materials, mainly in North America, Europe and Australia. Its products include aggregates, cement, readymix concrete, asphalt and paving, and engineered products for water, energy and other infrastructure. It describes itself as the leading provider of building materials critical to modernizing infrastructure. In 2025, revenue was $37.4 billion and net income $3.8 billion. By end market, 40% of revenue came from infrastructure, 32% from residential and 28% from non-residential construction. Its primary listing is on the NYSE. In June 2026 CRH agreed to acquire Arcosa for $150 per share in cash, a total enterprise value of about $8.5 billion.
Last updated
Analysis last edited: November 6, 2026 · Financial data fetched: October 17, 2026 10:07 (SEC EDGAR) · Source 10-K filed: February 18, 2026
Built on10-K FY2025 · filed 2026-02-1810-Q (quarter ended 2026-09-30) · filed 2026-10-29
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 6.4%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 14.5%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- +0.7 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- 1.8x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 1.50x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 4 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 19.1x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 1.14
Higher than 36% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 36% of 311 non-financial companies
Latest fiscal year (FY2025)
Higher than 37% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 49% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 48% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-09-30
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$96.79close on 2026-11-04
Market cap$68.43B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 19.1x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 2.9x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 10.8x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 4.3%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 1.5%
At FY2025 year-end: 22.7x
Earnings: trailing 12 months to 2026-09-30
At FY2025 year-end: 3.7x
Book value at FY2025 year-end
At FY2025 year-end: 13.4x
EBITDA for FY2025
At FY2025 year-end: 3.3%
Free cash flow for FY2025
Dividends per share for FY2025
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Sep 30, 2026.
- Revenue$11.07B → $11.4B (vs. a year earlier)↑ +3.0%$11.07B → $11.4B (vs. a year earlier)
- Operating margin18.8% → 16.6% (vs. a year earlier)↓ −2.2 pts18.8% → 16.6% (vs. a year earlier)
- Net income$1.5B → $1.25B (vs. a year earlier)↓ −17.2%$1.5B → $1.25B (vs. a year earlier)
- Diluted EPS$2.21 → $1.86 (vs. a year earlier)↓ −15.8%$2.21 → $1.86 (vs. a year earlier)
- Cash$3.03B → $5.11B (vs. previous quarter-end)↑ +68.9%$3.03B → $5.11B (vs. previous quarter-end)
- Long-term debt$17.82B → $19.5B (vs. previous quarter-end)↑ +9.4%$17.82B → $19.5B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
04
Company profileFrom SEC dataShow
- Legal name
- CRH PUBLIC LTD CO
- Headquarters
- DUBLIN 16, Ireland
- Incorporated in
- Ireland
- Fiscal year end
- 12/31
- Exchange & ticker
- NYSE: CRH
- Industry
- Construction Materials
- CIK
- 849395
- Website
- https://www.crh.com/ ↗
Workforce (as of FY2025 year-end)
Employees
83,032
Source: Form 10-K (FY2025) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q4 FY2026
Quarter end: December 2026. In past years, Q4 results were released 49–60 days after quarter end (Feb 18, 2026; Feb 26, 2025; Feb 29, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around December 31.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 29–60 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | Oct 29, 2026 (+29 days) | Oct 29, 2026 10-Q (+29 days) |
| Q2 FY2026 | Jun 30, 2026 | Jul 30, 2026 (+30 days) | Jul 30, 2026 10-Q (+30 days) |
| Q1 FY2026 | Mar 31, 2026 | Apr 30, 2026 (+30 days) | Apr 30, 2026 10-Q (+30 days) |
| Q4 FY2025 | Dec 31, 2025 | Feb 18, 2026 (+49 days) | Feb 18, 2026 10-K (+49 days) |
| Q3 FY2025 | Sep 30, 2025 | Nov 5, 2025 (+36 days) | Nov 5, 2025 10-Q (+36 days) |
| Q2 FY2025 | Jun 30, 2025 | Aug 6, 2025 (+37 days) | Aug 6, 2025 10-Q (+37 days) |
| Q1 FY2025 | Mar 31, 2025 | May 5, 2025 (+35 days) | May 5, 2025 10-Q (+35 days) |
| Q4 FY2024 | Dec 31, 2024 | Feb 26, 2025 (+57 days) | Feb 26, 2025 10-K (+57 days) |
| Q3 FY2024 | Sep 30, 2024 | Nov 7, 2024 (+38 days) | Nov 7, 2024 10-Q (+38 days) |
| Q2 FY2024 | Jun 30, 2024 | Aug 8, 2024 (+39 days) | Aug 8, 2024 10-Q (+39 days) |
| Q1 FY2024 | Mar 31, 2024 | May 10, 2024 (+40 days) | May 10, 2024 10-Q (+40 days) |
| Q4 FY2023 | Dec 31, 2023 | Feb 29, 2024 (+60 days) | Feb 29, 2024 10-K (+60 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Americas Materials Solutions
Essential Materials and Road Solutions
Examples: Aggregates, cement, readymix, asphalt, paving
1,790 operating locations.
Americas Building Solutions
Building & Infrastructure Solutions; Outdoor Living
Examples: Precast, pipe, pavers, masonry, fencing
337 operating locations.
International Solutions
Materials and products in Europe and Australia
Examples: Cement, aggregates, readymix
1,834 operating locations.
Supplementary cementitious materials
Eco Material Technologies
Examples: SCMs
Acquired in 2025.
Location counts are as of February 4, 2026 (Form 10-K, Item 2).
U.S. and worldwide share of flagship products/services
The filings reviewed give no market share figure for the company's products or services. It describes "leading positions of scale across North America" without a figure.
Reviewed: Form 10-K (FY2025) · Form 10-Q (quarter ended 2026-09-30)
07
Recent strategic focusSite analysis
2026 developments.
Arcosa acquisition completed
CRH completed its purchase of Arcosa on October 23, 2026 at $150.00 per share in cash (enterprise value about $8.5B). CRH says the deal reinforces its position as the leading aggregates and critical infrastructure player in North America.
Source: 8-Ks filed 2026-06-22 and 2026-07-17; Q3 2026 results
Q3 2026
Revenue rose 3% to $11.4B, while net income fell to $1.2B from $1.5B on impairments; Adjusted EBITDA was flat at $2.7B amid cost inflation and subdued residential activity. CRH expects 2026 net income of $3.1–3.3B, announced a buyback of up to $6B through 2030, and launched "Velocity," targeting $400M of annual run-rate benefits by end-2028.
Source: Q3 2026 results
CFO change
Aylwyn Bryan replaced Nancy Buese as CFO on May 12, 2026.
Source: 8-K filed 2026-05-15
Capex ÷ D&A (FY2025)
1.26x
Roughly matches depreciation — mostly maintenance/replacement
formulacapital expenditures ÷ depreciation & amortization
e.g.$2,713M ÷ $2,156M = 1.26x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
M&A spend (5-year total)
$14.14B
Latest year: $3.86B
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M. Capex went from $1.55B in FY2021 to $2.71B in FY2025
- Capex
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
08
Key figures at a glanceFrom SEC data
FY2021–FY2025, 5 years.
Revenue (FY2025)
$37.45B
As reported in the 10-K
Revenue CAGR (4 years)
+6.4%▲favorable
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($37,447M ÷ $29,206M) ^ (1÷4) − 1 = 6.4%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2025)
14.5%▲favorable
+3.1pt vs. 4 years ago
formulaoperating income ÷ revenue × 100
e.g.$5,440M ÷ $37,447M × 100 = 14.5%
ROE (FY2025)
16.5%▲favorable
5-year average: 15.6%
As reported in the 10-K
P/B (FY2025 end)
3.68x
formulafiscal year-end closing price ÷ book value per share
e.g.$124.80 ÷ $33.95 = 3.68x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2025 end)
13.4x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($88,227M + $17,653M − $4,096M) ÷ ($5,440M + $2,156M) = 13.4x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ▲
Revenue grew +6.4% a year over 4 years (strong growth)
From $29.21B in FY2021 to $37.45B in FY2025. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▲
Operating margin improved: 11.4% → 14.5%
How much operating profit is left per $100 of revenue. It moved +3.1 points over 4 years — pricing power, cost control, and product mix all show up here.
- ―
Equity ratio is 41.2% (a middling level)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 5 of 5 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ▲
ROE averaged 15.6% over 5 years (latest: 16.5%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
No partners or suppliers named in the filings.
07 · what it does
Key activities
Americas Materials Solutions
Extraction and production- Paving and road construction
Americas Building Solutions
Designing and manufacturing specified productsInternational Solutions
Materials production and distribution
06 · what it draws on
Key resources
Americas Materials Solutions
Quarries and mineral reserves- Cement plants
Americas Building Solutions
Manufacturing plants (precast, pipe, pavers)International Solutions
Cement plants in the U.K., Ireland, France, Poland, Ukraine, Romania, Slovakia, Australia and the Philippines
02 · why customers buy
Value propositions
- Essential building materials and solutions for infrastructure, with an integrated offering that saves customers time and logistics.
04 · how it keeps them
Customer relationships
- Project work for public and private customers in local markets.
03 · how it reaches them
Channels
- Direct sales to governments, contractors and other construction providers from local plants and quarries.
01 · who it serves
Customer segments
Americas Materials Solutions
Governments, contractors, construction companiesAmericas Building Solutions
Infrastructure, data center and manufacturing projects; retailInternational Solutions
Contractors and governments
09 · where money goes
Cost structure
FY2025, share of revenue ($37.45B)
- Cost of revenue63.9%
- Selling, general & administrative22.1%
Operating profit left: 14.5% of revenue. Depreciation & amortization (inside the costs above): $2.16B. Capital spending: $2.71B.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
Americas Materials Solutions
Materials sales and paving servicesAmericas Building Solutions
Product salesInternational Solutions
Materials and product sales
Value propositions, channels and customer relationships: Form 10-K (FY2025)
Americas Materials Solutions
Essential materials (aggregates, cement, readymix) and road solutions (asphalt, paving and construction services) in North America.
01 what it draws on
Inputs & resources
- Quarries and mineral reserves
- Cement plants
02 what it does
Activities
- Extraction and production
- Paving and road construction
03 who it serves
Customers
- Governments, contractors, construction companies
04 how money comes in
How it earns
- Materials sales and paving services
Americas Materials Solutions: how it makes money
- 2025 revenue $17.0B (+5%), Adjusted EBITDA $4.0B.
- Aggregates pricing +4% and volumes +4% (helped by acquisitions).
Americas Building Solutions
Engineered products for transportation, water, energy and telecom infrastructure, plus outdoor living products.
01 what it draws on
Inputs & resources
- Manufacturing plants (precast, pipe, pavers)
02 what it does
Activities
- Designing and manufacturing specified products
03 who it serves
Customers
- Infrastructure, data center and manufacturing projects; retail
04 how money comes in
How it earns
- Product sales
Americas Building Solutions: how it makes money
- 2025 revenue $7.1B (+1%), 19% of total revenue.
- Demand from the energy sector and data centers was strong.
International Solutions
Materials and building solutions in Europe and Australia, plus cement in the Philippines.
01 what it draws on
Inputs & resources
- Cement plants in the U.K., Ireland, France, Poland, Ukraine, Romania, Slovakia, Australia and the Philippines
02 what it does
Activities
- Materials production and distribution
03 who it serves
Customers
- Contractors and governments
04 how money comes in
How it earns
- Materials and product sales
International Solutions: how it makes money
- 2025 revenue $13.3B (+8%), Adjusted EBITDA $2.2B (+23%).
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
CRH’s demand depends on public infrastructure funding; its cement plants need air permits.
Government as customer
Infrastructure funding
Government funding for public infrastructure, such as the IIJA, is a key market driver.
Supports the businessTouches: Customers · How it earnsSource: Form 10-K (FY2025)
Environmental rules
Clean Air Act permits
Cement plants must obtain Clean Air Act permits.
Constrains the businessTouches: ActivitiesSource: Form 10-K (FY2025)
Revenue by segment (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue, margin = segment profit ÷ segment revenue × 100
Americas Materials Solutions
17,029 (45%)profit 4,002 · margin 23.5%
International Solutions
13,296 (36%)profit 2,205 · margin 16.6%
Americas Building Solutions
7,122 (19%)profit 1,474 · margin 20.7%
Source: Form 10-K (FY2025) — Segment Analysis of Change Profit is segment Adjusted EBITDA (a non-GAAP measure CRH uses for segments), not operating income.
10
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
11
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
National, regional and local governments; contractors; other construction product and service providers.
Named by the company
No customer is named.
Suppliers
Energy, raw materials and haulage.
Named by the company
No supplier is named.
12
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
The 10-K does not name competitors. CRH's proxy uses a separate performance peer group of 18 companies (including Vinci, Holcim, Saint-Gobain, Heidelberg Materials and Cemex) to measure relative TSR.
Competitors named in the 10-K
CRH's 10-K doesn't name competitors.
Peer group the company chose
2025 compensation peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
21 U.S.-listed companies mainly in Materials and Industrials. Martin Marietta and Vulcan Materials are included even though they fall below the size screens. Amrize and Smurfit Westrock were added for 2026 decisions.
- Caterpillarsite ↗
- Lindesite ↗
- Deere & Companysite ↗
- Honeywellsite ↗
- Eatonsite ↗
- General Dynamicssite ↗
- Trane Technologiessite ↗
- 3Msite ↗
- Sherwin-Williamssite ↗
- Johnson Controlssite ↗
- Cumminssite ↗
- PACCARsite ↗
- Carriersite ↗
- Vulcan Materialssite ↗
- Martin Marietta Materialssite ↗
- Nucorsite ↗
- Amrizesite ↗
- PPGsite ↗
- Smurfit Westrocksite ↗
- Dowsite ↗
- LyondellBasellsite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
13
M&A historySite analysisShow
Companies acquired over the last five years, plus older large acquisitions that still anchor a current business — what each was bought to do, and what happened afterward. From the 10-K, 8-Ks, and the company's press releases.
CRH completed acquisitions for $4.1B in 2025 and $5.0B in 2024.
Cash spent on acquisitions, FY2021–FY2025: $14.14B
October 23, 2026
Arcosa
$150.00 per share in cash (total enterprise value of about $8.5B)
Leading U.S. provider of infrastructure-related materials, products and solutions, based in Dallas (as described by CRH).
- Stated purpose (company)
- Complements CRH's connected portfolio, reinforces its leadership in U.S. aggregates and expands its U.S. energy infrastructure capabilities.
Source: 8-K filed 2026-06-22 · Q3 2026 results (8-K filed 2026-10-29, Exhibit 99.1)
2025
Eco Material Technologies
Not separately stated
North America's leading supplier of supplementary cementitious materials, according to CRH.
- Stated purpose (company)
- Not stated.
Source: Form 10-K (FY2025) — Item 1
14
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
| Line item | FY2021In next year’s 10-K | FY2022In next year’s 10-K | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ |
|---|---|---|---|---|---|
| Income statement ($M) | |||||
| Revenue | 29,206 | 32,723 | 34,949 | 35,572 | 37,447 |
| Operating income | 3,327 | 3,809 | 4,186 | 4,925 | 5,440 |
| Pretax income | 3,102 | 3,461 | 4,014 | 4,714 | 4,805 |
| Net income (attributable) | 2,630 | 3,862 | 3,178 | 3,492 | 3,753 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 12.0% | 6.8% | 1.8% | 5.3% |
| Operating margincalcoperating income ÷ revenue × 100 | 11.4% | 11.6% | 12.0% | 13.8% | 14.5% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 9.0% | 11.8% | 9.1% | 9.8% | 10.0% |
| Balance sheet ($M) | |||||
| Total assets | — | 45,319 | 47,469 | 50,613 | 58,329 |
| Total equity | 21,246 | 22,732 | 21,288 | 22,466 | 25,048 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | — | 9,636 | 11,642 | 13,968 | 17,653 |
| Equity ratio | — | 48.9% | 43.9% | 42.7% | 41.2% |
| ROE | 12.4% | 17.8% | 14.8% | 16.4% | 16.5% |
| Cash flow ($M) | |||||
| Operating CF | 3,979 | 3,800 | 5,017 | 4,989 | 5,625 |
| Investing CF | -2,513 | -917 | -2,391 | -6,291 | -6,045 |
| Financing CF | -3,107 | -2,499 | -2,380 | -1,186 | 596 |
| Free cash flowcalccash flow from operations − capital expenditures | 2,425 | 2,277 | 3,200 | 2,411 | 2,912 |
| Cash and equivalents | 5,783 | 5,936 | 6,341 | 3,720 | 4,096 |
| Per share & other | |||||
| EPS ($) | 3.32 | 5.11 | 4.33 | 5.02 | 5.51 |
| BVPS ($) | — | 29.46 | 28.39 | 30.07 | 33.95 |
| Dividend per share ($) | 1.21 | 1.27 | 1.33 | 1.40 | 1.48 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | 36.4% | 24.9% | 30.7% | 27.9% | 26.9% |
| P/E (x) | 15.9 | 7.8 | 16.0 | 18.4 | 22.7 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 7.4 | 6.2 | 9.6 | 11.4 | 13.4 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | — | 1.35 | 2.44 | 3.08 | 3.68 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-09-30 | $11.4B+3.0% | $1.9B-8.9% | $1.25B-17.2% | $1.86 |
| 2026-06-30 | $10.78B+5.6% | $2.08B+7.4% | $1.49B+12.7% | $2.21 |
| 2026-03-31 | $7.37B+9.1% | −$38M-311.1% | −$176M | $-0.27 |
| 2025-12-31 † | $9.42B+6.2% | $1.41B+27.4% | $1.03B+45.8% | — |
| 2025-09-30 | $11.07B | $2.08B | $1.5B | $2.21 |
| 2025-06-30 | $10.21B | $1.94B | $1.32B | $1.94 |
| 2025-03-31 | $6.76B | $18M | −$94M | $-0.15 |
| 2024-12-31 † | $8.87B | $1.1B | $703M | — |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
15
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2025)
10.7%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$5,440M × (1 − 22.5%) ÷ $39,568M × 100 = 10.7%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
9.94%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $88.23B ÷ ($88.23B + $17.65B) = 83.3%
e.g.Debt weight: $17.65B ÷ ($88.23B + $17.65B) = 16.7%
e.g.WACC: 11.2% × 83.3% + 4.6% × (1 − 22.5%) × 16.7% = 9.94%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 8.2%–12.0% and ROIC − WACC runs −1.3 to +2.4 points. The sign flips inside this range, so the result depends on the assumptions. This describes the latest year and does not predict future value creation.
WACC 9.94% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 1.14 (price-derived adjusted beta)
- Equity risk premium
- 5.5%
- Cost of equity
- 11.22%
- Cost of debt
- 4.59%
- Tax rate
- 22.5% (effective rate, FY2023–FY2025)
- Capital structure (equity : debt)
- 83% : 17%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 9.94%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 1.14 (price-derived adjusted beta. Raw β 1.20, R² 0.33, 130 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 1.202 + 0.33 = 1.135
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 1.14 × 5.5% = 11.2%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
16
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
6.4%
Perpetual FCF growth: g = r − FCF ÷ EV = 9.9% − 3.6%
Past FCF growth (FY2021–FY2025)
+4.7%
Compound annual rate, 4 years
Past revenue growth (FY2021–FY2025)
+6.4%
Compound annual rate, 4 years
Inputs (FY2025): free cash flow $2.91B (operating CF − capex); enterprise value $81.98B = market cap $68.43B (latest close, 2026-11-04) + debt $17.65B − cash and short-term investments $4.1B; r = WACC of 9.9% using this page’s default assumptions (β 1.14, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$83.2B
FCF $2.91B ÷ (9.9% − 6.4%)
Theoretical ÷ actual enterprise value
1.01x
Above 1x: these assumptions value the business above the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 7.9% | 8.9% | 9.9% | 10.9% | 11.9% |
|---|---|---|---|---|---|
| 0% | 0.45x | 0.40x | 0.36x | 0.33x | 0.30x |
| 2% | 0.60x | 0.51x | 0.45x | 0.40x | 0.36x |
| 4% | 0.91x | 0.72x | 0.60x | 0.51x | 0.45x |
| 6% | 1.87x | 1.22x | 0.91x | 0.72x | 0.60x |
| 8% | — | 3.95x | 1.87x | 1.22x | 0.91x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
17
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- ✓
Operating CF ÷ net income: averages 1.40x
Profit is backed by cash coming in.
- ✓
Accrual ratio (latest): -3.4%
A small share of profit rests on accounting estimates.
- ✓
Core-earnings share (operating income ÷ pretax income): 113%
Most profit comes from core operations.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
Profit bridge (FY2025)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-18
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days inventory outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$5,625M ÷ $3,753M = 1.50x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$5,440M ÷ $4,805M × 100 = 113%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
e.g.($4,755M + $5,251M) ÷ 2 ÷ $23,919M × 365 = 76 days
termsInventory · Cost of revenue (COGS)
18
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 84.7%
- Directors & officers (shares)
- <1%
- Everyone else (est.)
- 15.3%
- Directors & officers (voting power)
- <1%
- Institutional-ownership rank
- 267 of 416
- Beta (adjusted)
- 1.14
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 64% of covered companies have more
above 1 = swings more than the market
- 563.7M shares reported by 1,023 13F filers ÷ 665.3M shares outstanding on 2026-07-20. Option positions are excluded.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-03-27 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-07-20)
19
Strengths & weaknessesSite analysis
Strengths
1. Scale
83,032 people at 3,961 locations; revenue was $37.4B in 2025.
Evidence: Form 10-K (FY2025) Item 1
2. Infrastructure exposure
40% of 2025 revenue came from infrastructure.
Evidence: Form 10-K (FY2025) Item 1
3. Rising profits
Operating income grew from $4.2B (2023) to $5.4B (2025).
Evidence: Form 10-K (FY2025)
Weaknesses
1. Rising debt
Interest-bearing debt rose from $9.6B (2022) to $17.7B (2025), and interest expense from $376M (2023) to $810M (2025).
Evidence: SEC EDGAR XBRL
2. Weather and seasonality
Weather affected 2025 volumes early in the year.
Evidence: Form 10-K (FY2025) MD&A
20
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2025)
22.7x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2025)
1.19%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2025)
27%
Dividends per share ÷ diluted EPS
FCF yield (FY2025)
3.3%
(Operating CF − capex) ÷ market cap
1. Dividends and buybacks
The 2025 dividend was $1.48 per share (+6%), with $1.2B of buybacks.
- What has to hold
- Cash flow continues.
- The other side
- Large acquisitions compete for cash.
Evidence: Form 10-K (FY2025)
2. Infrastructure spending
Public infrastructure investment and reindustrialization support demand.
- What has to hold
- Funding persists.
- The other side
- New residential construction is expected to stay subdued.
Evidence: Form 10-K (FY2025) MD&A outlook
CRH moved to U.S. GAAP reporting on Form 10-K starting with FY2023 (it previously filed 20-Fs), so 2021 balance-sheet data are not shown.
21
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2025)
Cash & short-term investments ÷ debt due within a year
3.5x
$4.1B vs. $1.18B
Interest coverage (operating income ÷ interest expense)
6.7x
$5.44B vs. $810M
Free cash flow ÷ dividends paid
2.9x
$2.91B vs. $996M (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | No decline in the record | — |
| Operating income | No decline in the record | — |
Covers only the 5 fiscal years on record (FY2021–FY2025), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Cash generation
Operating cash flow was $5.6B in 2025.
Source: SEC EDGAR XBRL
End-market mix
Revenue split: infrastructure 40%, residential 32%, non-residential 28%.
Source: Form 10-K (FY2025), Item 1
22
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
CRH reports only ordinary-course legal proceedings.
Company statement: CRH is not involved in any proceeding it believes could reasonably be expected to have a material adverse effect.
Based on Form 10-Q (quarter ended 2026-09-30) — Legal Proceedings, reviewed 2026-10-18. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
23
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
Geopolitical risk highlights
- [2]Geopolitical conflicts
- 1Demand & macro
Construction demand and public funding
- Company disclosure (summarized from the 10-K)
- Results depend on construction activity and the availability of public infrastructure funding.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 2Geopolitical
Geopolitical conflicts
- Company disclosure (summarized from the 10-K)
- The 10-K cites the ongoing conflicts in Ukraine (where CRH has cement operations) and the Middle East.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 3Costs & inflation
Energy and labor costs
- Company disclosure (summarized from the 10-K)
- In 2025, energy costs rose 8% and labor costs 9% (partly from acquisitions).
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 4M&A & integration
Acquisition integration
- Company disclosure (summarized from the 10-K)
- CRH relies on acquisitions ($4.1B in 2025; Arcosa pending), which may not be integrated successfully.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 5Disaster
Weather and climate
- Company disclosure (summarized from the 10-K)
- Unfavorable weather and climate change can affect volumes and operations.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
24
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (1)
6 * * Represents a non-GAAP measure. See “Non-GAAP Reconciliation and Supplementary Information” on pages 35 to 38 for a reconciliation to the most directly comparable GAAP measure.
No longer in the text (3)
5 * * Represents a non-GAAP measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 40 to 42.
On September 25, 2023, CRH relocated the primary listing of its ordinary shares from the LSE to the NYSE. Read more
The Company has an international secondary listing on the LSE and accordingly our ordinary shares are now listed on both exchanges. As a result of the relocation of the primary listing CRH has ceased to be eligible for inclusion in certain UK and European equity indices.
Following the transition to the NYSE, CRH has been added to the MSCI USA Equity Index, the S&P TMI Index and the Russell 1000 Equity Index. Read more
The Company aims to be included in other relevant equity indices for which it believes it is eligible, including the S&P 500 Index. Inclusion is however at the discretion of the respective index providers. There is a risk that the Company may not be admitted, which may adversely affect the price and liquidity of the ordinary shares.
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Feb 18, 2026 ↗ with the 10-K filed Feb 26, 2025 ↗.
25
What to watch going forwardSite analysis
- Closing and financing of Arcosa ($5.75B bridge facility).
- U.S. infrastructure funding.
- Aggregates and cement pricing.
- Leverage after acquisitions.
- 2026 guidance: net income $3.9–4.1B, diluted EPS $5.60–6.05.
26
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Last updated
Analysis last edited: November 6, 2026 · Financial data fetched: October 17, 2026 10:07 (SEC EDGAR) · Source 10-K filed: February 18, 2026
Built on10-K FY2025 · filed 2026-02-18
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent CRH’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.