CRH (CRH)
Materials · $65.0B market cap · SEC CIK 0000849395
ahead of 49% of the S&P 500 · #13 of 26 in Materials
Next reports on Feb 16, 2027, after the close, with analysts expecting $1.46 in earnings per share.
52-week range $78.62 to $131.55. 26% below its 52-week high and 23% above its low.
The case for CRH
Nothing in the numbers stands out as a strength.
The case against
- The price trend is weak (32/100): −17.4% over a year, −5.6% over three months, 26% below its 52-week high.
- Trailed the S&P 500 by 27 points over the past year.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 65 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 67 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 59 |
| Momentumhow the price has behaved lately | 32 |
| Stabilityhow violently it moves, what it owes and what it pays you | 48 |
- Its dividend figures disagree with each other (a 7.0% yield against about 1.5% implied by its payout ratio and P/E), so the dividend is not counted.
- Its profits follow commodity prices, so its earnings and margin are read as half the latest year and half the average of the years on file (5), and last year's change in earnings per share is not counted as growth.
- Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.
The financials
Revenue growth
Is the business growing? Slowly
| Last 12 months | +5.6% |
|---|---|
| Over 5 years | +6.3% a year |
| FY2025 revenue | $37.4B (+5%) |
Free cash flow
Is it generating real cash? Yes
| FY2025 free cash flow | $2.9B |
|---|---|
| Of revenue | 8% |
| Of profit | 78% |
Profit margins
Is profitability improving? Holding steady
| Gross margin | 36% |
|---|---|
| Operating margin | 14% |
| Net margin, FY24 → FY25 → now | 9.8% → 10.0% → 9.2% |
Debt vs. cash
Is the balance sheet healthy? Yes, the debt is manageable
| Cash | $4.1B |
|---|---|
| Long-term debt | $16.5B |
| Net debt | $12.4B |
| Years to repay | 2.9 yrs |
Valuation
Is the stock price reasonable? Yes, about fair
| P/E | 18.2× |
|---|---|
| P/E on mid-cycle earnings | 19.1× |
| Fair P/E for its growth | 20× |
| P/FCF | 22.3× |
| Forward P/E | 14.6× |
| EV / EBITDA | 10.2× |
Its profits follow commodity prices, so they are taken as half the latest year and half the average of recent years. At 19.1× those mid-cycle earnings (18.2× the latest year's) it trades close to the 20× that 8%+ a year of growth would justify. At 22.3× free cash flow it trades close to that same mark.
The financials, five years deep
Pulled from CRH's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $37.4B | $35.6B | $34.9B | $32.7B | $29.2B |
| Change on the year | +5% | +2% | +7% | +12% | — |
| Free cash flow | |||||
| Free cash flow | $2.9B | $2.4B | $3.2B | $2.3B | $2.4B |
| Of revenue | 8% | 7% | 9% | 7% | 8% |
| Profit margins | |||||
| Gross margin | 36.1% | 35.7% | 34.2% | 33.1% | 33.6% |
| Operating margin | 14.5% | 13.8% | 12.0% | 11.6% | 11.4% |
| Net margin | 10.0% | 9.8% | 9.1% | 11.8% | 9.0% |
| Debt vs. cash | |||||
| Cash | $4.1B | $3.7B | $6.3B | $5.9B | $5.8B |
| Long-term debt | $16.5B | $11.0B | $9.8B | $8.1B | — |
| Net cash (debt) | −$12.4B | −$7.2B | −$3.4B | −$2.2B | — |
What CRH says it does
Overview CRH is the leading provider of building materials critical to modernizing infrastructure. With our team of 83,032 people across 3,961 locations, our unmatched scale, connected portfolio, and deep local relationships make us the partner of choice for transportation, water and reindustrialization projects, shaping communities for a better tomorrow. The Company, which has market leadership positions in North America, Europe and Australia, has grown rapidly since formation in 1970 and in 2025 generated $37.4 billion of Total revenues, $3.8 billion of Net income and $7.7 billion of Adjusted EBITDA*. 1 In 2025, 40% of Total revenues came from infrastructure, 32% from residential construction and 28% from non-residential construction. 60% of Total revenues came from sales to new-build construction, while 40% of Total revenues came from repair and remodel activity. CRH’s connected portfolio supplies building materials across the…
Risk factors CRH lists in its 10-K
- Industry Cyclicality and Economic Conditions
- CRH’s financial performance may be adversely impacted by reductions or delays in government infrastructure spending
- Adverse Geopolitical Change/Environment
- Strategic Mineral Reserves and Permitting
- Payment of Dividends/Share Repurchase Program
- CRH may not pay dividends or make other returns of capital to shareholders in the future, and our current share repurchase program may not enhance long-term shareholder value
- Early-Stage Business/Technology Investment
- CRH’s venture capital unit may fail to achieve expected commercial success and financial returns, and CRH may lose all or part of its investments in early-stage companies
- Sustainable Products and Innovation
- If CRH fails to develop new sustainable products that meet customer needs, we may fall behind our competitors and our financial performance may be adversely impacted
- Commodity Products and Substitution
- CRH depends on multiple types of information and operational technologies, and failure to properly manage and maintain such technologies could adversely impact our ability to operate
- CRH depends on the continued availability of people, production equipment, processes and systems, and our production could be materially disrupted by operational failures, which would have a negative impact on our profitability
- Laws, Regulations and Business Conduct
- Taxation Charge and Balance Sheet Provisioning
- A proportion of CRH’s revenues are in currencies other than its reporting currency, and adverse changes in exchange rates could negatively affect retained earnings
- CRH may be required to write-down its goodwill, which could have an adverse impact on the Company’s retained earnings
- CRH’s financial reporting requires the use of accounting estimates for a number of significant items