Construction Partners (ROAD) Financials

$140.48 +9.12 (+6.94%)

Closing price 05/8/2026 04:00 PM Eastern

Extended Trading

$140.58 +0.10 (+0.07%)

As of 05/8/2026 07:50 PM Eastern

Annual Income Statements for Construction Partners

This table shows Construction Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	26	51	43	40	20	39	50	58	99
Consolidated Net Income / (Loss)	26	51	43	40	20	21	49	69	102
Net Income / (Loss) Continuing Operations	26	50	42	40	20	21	49	69	102
Total Pre-Tax Income	41	60	56	52	29	28	65	92	135
Total Operating Income	47	61	57	55	30	35	82	111	225
Total Gross Profit	91	100	118	122	120	139	196	258	439
Total Revenue	568	680	783	786	911	1,302	1,564	1,824	2,812
Operating Revenue	568	680	783	786	911	1,302	1,564	1,824	2,812
Total Cost of Revenue	477	581	665	663	791	1,162	1,367	1,566	2,373
Operating Cost of Revenue	477	581	665	663	791	1,162	1,367	1,566	2,373
Total Operating Expenses	44	38	61	67	90	104	120	147	214
Selling, General & Admin Expense	48	55	63	69	92	108	127	148	199
Restructuring Charge	-	-	-	-	-	-	0.44	3.89	26
Other Special Charges / (Income)	-3.48	-17	-1.91	-1.62	-2.04	-3.67	-7.05	-4.48	-11
Total Other Income / (Expense), net	-5.80	-1.17	-1.45	-2.78	-1.58	-7.12	-11	-19	-90
Interest Expense	5.60	1.27	1.86	3.11	2.40	-	17	19	90
Interest & Investment Income	-	-	-	-	0.01	-7.72	0.00	-0.00	-0.01
Other Income / (Expense), net	-0.21	0.10	0.42	0.34	0.82	0.60	6.26	-0.07	0.09
Income Tax Expense	15	11	14	13	8.35	6.92	16	23	33
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	0.02	-17	-0.85	10	3.05
Basic Earnings per Share	$0.63	$1.11	$0.84	$0.78	$0.39	$0.41	$0.95	$1.33	$1.85
Weighted Average Basic Shares Outstanding	41.55M	45.61M	51.42M	51.49M	51.64M	51.77M	51.83M	51.88M	54.94M
Diluted Earnings per Share	$0.63	$1.11	$0.84	$0.78	$0.39	$0.41	$0.94	$1.31	$1.84
Weighted Average Diluted Shares Outstanding	41.55M	45.92M	51.43M	51.64M	51.77M	51.96M	52.26M	52.57M	55.37M
Weighted Average Basic & Diluted Shares Outstanding	-	51.41M	51.30M	51.78M	52.37M	52.69M	52.71M	55.88M	56.53M

This table shows Construction Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	22	32	9.84	-1.12	31	18	-3.05	4.22	44	53	16
Consolidated Net Income / (Loss)	22	31	9.84	-1.12	31	29	-3.05	4.22	44	57	17
Net Income / (Loss) Continuing Operations	22	31	9.84	-1.12	31	29	-3.05	4.23	44	57	17
Total Pre-Tax Income	29	41	13	-1.44	41	40	-3.90	5.54	58	75	23
Total Operating Income	33	45	17	3.08	46	46	14	27	83	101	50
Total Gross Profit	64	76	52	39	83	84	77	71	132	159	122
Total Revenue	422	475	397	371	518	538	562	572	779	900	809
Operating Revenue	422	475	397	371	518	538	562	572	779	900	809
Total Cost of Revenue	358	399	345	333	434	454	485	500	647	740	688
Operating Cost of Revenue	358	399	345	333	434	454	485	500	647	740	688
Total Operating Expenses	31	36	35	36	38	38	63	44	49	59	71
Selling, General & Admin Expense	32	33	35	36	38	40	44	47	51	57	62
Restructuring Charge	-	-	0.53	0.77	0.94	-	20	0.81	1.82	3.73	12
Other Special Charges / (Income)	-1.50	-2.22	-0.84	-1.03	-1.09	-1.52	-1.06	-3.41	-3.98	-2.47	-2.04
Total Other Income / (Expense), net	-4.55	1.79	-3.77	-4.52	-4.64	-6.20	-18	-22	-25	-26	-28
Interest Expense	-	-	3.75	4.57	4.67	-	18	22	25	25	27
Interest & Investment Income	-5.04	-	-	-	0.00	-	0.00	-0.01	-	-	-0.00
Other Income / (Expense), net	0.49	5.34	-0.03	0.05	0.03	-0.12	0.42	-0.16	0.25	-0.42	-0.25
Income Tax Expense	7.12	10	3.12	-0.32	10	10	-0.85	1.31	14	18	5.58
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-	-	-	-	1.14
Basic Earnings per Share	$0.42	$0.60	$0.19	($0.02)	$0.60	$0.56	($0.06)	$0.08	$0.80	$1.03	$0.31
Weighted Average Basic Shares Outstanding	51.83M	51.83M	51.89M	51.94M	51.91M	51.88M	54.16M	55.25M	55.16M	54.94M	55.81M
Diluted Earnings per Share	$0.41	$0.60	$0.19	($0.02)	$0.59	$0.55	($0.06)	$0.08	$0.79	$1.03	$0.31
Weighted Average Diluted Shares Outstanding	52.29M	52.26M	52.43M	51.94M	52.65M	52.57M	54.16M	55.67M	55.65M	55.37M	56.05M
Weighted Average Basic & Diluted Shares Outstanding	52.73M	52.71M	52.83M	52.83M	52.76M	55.88M	55.95M	56.03M	56.09M	56.53M	56.52M

This table details how cash moves in and out of Construction Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	-24	59	-19	68	-91	-22	14	28	82
Net Cash From Operating Activities	47	66	55	105	49	16	157	209	291
Net Cash From Continuing Operating Activities	47	53	55	105	49	16	157	209	291
Net Income / (Loss) Continuing Operations	26	51	43	40	20	21	49	69	102
Consolidated Net Income / (Loss)	26	51	43	40	20	21	49	69	102
Depreciation Expense	21	25	31	39	50	66	79	93	148
Amortization Expense	0.66	0.09	0.11	0.17	0.28	0.22	0.30	0.36	3.83
Non-Cash Adjustments To Reconcile Net Income	-20	4.25	-3.99	7.34	-13	13	25	41	9.71
Changes in Operating Assets and Liabilities, net	19	-14	-15	18	-8.96	-84	3.54	6.29	28
Net Cash From Investing Activities	-31	-90	-60	-79	-263	-197	-143	-308	-1,280
Net Cash From Continuing Investing Activities	-31	-90	-60	-79	-263	-197	-143	-308	-1,280
Purchase of Property, Plant & Equipment	-24	-43	-42	-53	-56	-69	-98	-88	-138
Acquisitions	-11	-52	-14	-30	-211	-129	-92	-232	-1,155
Purchase of Investments	-	-	-	0.00	0.00	-7.43	-11	-5.49	-15
Sale of Property, Plant & Equipment	4.56	4.93	4.46	3.04	3.65	7.53	18	14	18
Divestitures	-	-	2.50	0.36	0.00	0.00	37	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	-	0.00	0.00	2.90	3.55	9.90
Net Cash From Financing Activities	-40	95	-14	42	124	159	-0.26	126	1,071
Net Cash From Continuing Financing Activities	-40	95	-14	42	124	159	-0.26	126	1,071
Repayment of Debt	-66	-17	-13	-30	-95	-8.13	-103	-73	-147
Repurchase of Common Equity	-	-	-	0.00	0.00	-0.04	-0.14	-11	-24
Issuance of Debt	60	22	0.00	72	219	167	103	210	1,242
Cash Interest Paid	3.31	2.34	2.64	2.04	3.20	9.29	19	22	81
Cash Income Taxes Paid	13	14	9.12	9.91	6.22	1.37	1.01	5.45	5.51

This table details how cash moves in and out of Construction Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	24	-5.87	21	-19	8.01	18	56	-29	13	43	-55
Net Cash From Operating Activities	49	63	60	18	35	96	41	56	83	112	83
Net Cash From Continuing Operating Activities	49	63	60	18	35	96	41	56	83	112	83
Net Income / (Loss) Continuing Operations	22	31	9.84	-1.12	31	29	-3.05	4.22	44	57	17
Consolidated Net Income / (Loss)	22	31	9.84	-1.12	31	29	-3.05	4.22	44	57	17
Depreciation Expense	20	21	21	23	24	25	31	37	39	41	45
Amortization Expense	0.07	0.07	0.07	0.07	0.08	0.14	0.50	1.72	1.17	0.45	0.67
Non-Cash Adjustments To Reconcile Net Income	4.00	17	8.62	11	11	10	14	-9.32	-18	24	9.24
Changes in Operating Assets and Liabilities, net	3.56	-6.30	21	-14	-31	31	-1.73	22	17	-9.22	10
Net Cash From Investing Activities	-21	-25	-105	-34	-61	-108	-679	-214	-140	-247	-243
Net Cash From Continuing Investing Activities	-21	-25	-105	-34	-61	-108	-679	-214	-140	-247	-243
Purchase of Property, Plant & Equipment	-19	-19	-27	-29	-15	-18	-27	-41	-37	-33	-35
Acquisitions	-4.90	-9.05	-81	-6.50	-47	-97	-654	-175	-107	-219	-215
Purchase of Investments	-2.73	-3.48	0.00	-	-2.51	-1.11	-2.26	-3.94	-5.98	-2.59	-1.54
Sale of Property, Plant & Equipment	4.34	5.06	2.46	2.50	3.09	6.01	1.84	4.15	5.26	6.52	5.55
Sale and/or Maturity of Investments	0.54	1.50	1.01	0.91	0.94	0.69	2.42	1.52	4.41	1.55	3.71
Net Cash From Financing Activities	-3.13	-44	65	-3.75	34	31	695	129	70	178	105
Net Cash From Continuing Financing Activities	-3.13	-44	65	-3.75	34	31	695	129	70	178	105
Repayment of Debt	-3.13	-94	-24	-3.75	-20	-25	-128	-7.44	-2.13	-9.62	-9.63
Repurchase of Common Equity	-	-	-1.34	-	-	-	-12	-	-	-	-25
Issuance of Debt	-	50	90	-	59	61	835	145	72	190	140
Cash Interest Paid	5.27	4.84	4.69	4.88	5.63	6.48	15	21	22	22	26

This table presents Construction Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	329	496	532	628	807	1,096	1,220	1,542	3,239
Total Current Assets	175	267	280	332	300	417	473	585	935
Cash & Equivalents	28	99	81	148	57	36	48	75	156
Restricted Cash	-	-	-	-	0.00	0.00	0.84	2.00	2.95
Note & Lease Receivable	121	120	140	132	158	265	304	351	550
Inventories, net	17	25	34	39	54	74	84	107	155
Prepaid Expenses	4.52	14	13	5.04	7.79	13	9.31	25	25
Other Current Assets	-	9.33	12	7.87	23	29	27	26	45
Plant, Property, & Equipment, net	116	179	206	237	405	481	505	630	1,153
Total Noncurrent Assets	38	50	46	59	102	197	241	327	1,151
Long-Term Investments	0.00	1.66	0.50	0.20	0.11	6.95	15	18	23
Goodwill	31	33	39	46	85	129	159	232	943
Intangible Assets	2.55	3.74	3.43	3.22	4.16	16	20	21	79
Other Noncurrent Operating Assets	2.48	10	2.28	9.17	12	45	47	57	105
Total Liabilities & Shareholders' Equity	329	496	532	628	807	1,096	1,220	1,542	3,239
Total Liabilities	176	197	188	243	398	640	703	968	2,327
Total Current Liabilities	115	135	128	136	158	226	279	380	582
Short-Term Debt	10	15	7.54	13	10	13	15	27	39
Accounts Payable	52	64	70	65	86	130	151	183	284
Accrued Expenses	20	18	19	22	26	28	32	42	110
Current Deferred Revenue	32	39	31	34	34	52	79	120	129
Other Current Liabilities	-	-	0.00	2.05	1.40	2.21	2.34	9.07	20
Total Noncurrent Liabilities	62	62	60	107	240	414	424	588	1,745
Long-Term Debt	47	48	42	79	206	363	361	487	1,574
Noncurrent Deferred & Payable Income Tax Liabilities	9.67	8.89	11	14	17	27	37	54	80
Other Noncurrent Operating Liabilities	5.02	5.30	6.11	14	16	24	26	47	91
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	152	299	344	385	393	456	517	574	912
Total Preferred & Common Equity	152	299	344	385	409	456	517	574	912
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	152	299	344	385	393	456	517	574	912
Common Stock	142	242	244	245	249	257	267	278	541
Retained Earnings	22	73	116	156	176	197	246	315	417
Treasury Stock	-12	-16	-16	-16	-31	-16	-16	-27	-51
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-0.02	18	19	7.50	4.37

This table presents Construction Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2022	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025
Total Assets	1,020	1,129	1,141	1,184	1,276	1,313	1,432	2,568	2,754	2,926	3,359
Total Current Assets	389	401	406	441	461	475	554	723	730	809	809
Cash & Equivalents	26	43	31	55	69	48	56	133	102	114	104
Restricted Cash	0.11	0.28	0.12	0.07	0.97	2.48	2.12	0.56	1.73	1.97	0.10
Note & Lease Receivable	240	230	243	255	256	276	341	384	409	465	438
Inventories, net	77	80	86	88	97	103	105	145	147	149	170
Prepaid Expenses	13	15	17	9.69	9.03	11	18	25	23	26	40
Other Current Assets	33	32	29	33	30	36	33	36	46	55	57
Plant, Property, & Equipment, net	454	498	503	503	562	565	579	1,031	1,103	1,148	1,253
Total Noncurrent Assets	177	230	232	240	253	273	299	814	921	969	1,296
Long-Term Investments	7.42	6.82	11	13	15	16	17	18	20	22	21
Goodwill	125	160	163	157	177	181	200	644	745	776	1,077
Intangible Assets	13	16	15	21	20	21	21	88	80	82	78
Other Noncurrent Operating Assets	32	47	42	48	42	54	60	64	75	89	120
Total Liabilities & Shareholders' Equity	1,020	1,129	1,141	1,184	1,276	1,313	1,432	2,568	2,754	2,926	3,359
Total Liabilities	590	670	688	703	755	788	879	1,757	1,946	2,073	2,389
Total Current Liabilities	204	203	225	241	263	290	346	470	514	552	508
Short-Term Debt	13	13	14	14	15	15	24	38	40	39	39
Accounts Payable	120	112	121	127	132	142	159	172	199	244	221
Accrued Expenses	22	19	26	29	24	25	43	113	123	128	77
Current Deferred Revenue	48	57	62	69	89	103	113	137	136	124	146
Other Current Liabilities	2.09	2.32	2.24	2.39	3.48	5.56	7.32	11	14	18	25
Total Noncurrent Liabilities	386	467	463	462	492	498	533	1,287	1,432	1,520	1,881
Long-Term Debt	341	413	409	405	427	423	454	1,183	1,319	1,393	1,705
Noncurrent Deferred & Payable Income Tax Liabilities	20	26	25	26	35	35	35	53	52	53	79
Other Noncurrent Operating Liabilities	24	28	29	31	30	39	44	51	60	75	98
Commitments & Contingencies	0.00	0.00	-	-	0.00	-	-	0.00	-	-	0.00
Total Equity & Noncontrolling Interests	431	459	453	481	521	525	553	811	808	853	969
Total Preferred & Common Equity	431	459	453	481	521	525	553	811	808	853	969
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	431	459	453	481	521	525	553	811	808	853	969
Common Stock	254	259	262	265	270	273	276	528	531	535	605
Retained Earnings	184	199	194	215	256	255	286	312	316	360	434
Treasury Stock	-	-16	-16	-16	-17	-17	-22	-39	-47	-48	-73
Accumulated Other Comprehensive Income / (Loss)	8.46	16	13	17	12	14	14	10	7.38	5.49	3.20

This table displays calculated financial ratios and metrics derived from Construction Partners' official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	59.07%	30.33%	0.31%	15.92%	42.93%	20.12%	16.65%	54.20%
EBITDA Growth	0.00%	848.84%	-197.73%	6.91%	-14.77%	25.87%	64.32%	22.03%	84.40%
EBIT Growth	0.00%	1,191.95%	-25.74%	-67.82%	-44.36%	16.47%	144.74%	26.13%	102.30%
NOPAT Growth	0.00%	962.57%	-61.54%	-51.25%	-49.07%	25.72%	129.20%	35.74%	104.28%
Net Income Growth	0.00%	285.15%	-45.30%	-6.55%	-49.93%	5.94%	129.23%	40.68%	47.65%
EPS Growth	0.00%	304.76%	-97.30%	-7.14%	-50.00%	5.13%	129.27%	39.36%	40.46%
Operating Cash Flow Growth	0.00%	163.61%	-65.62%	90.28%	-53.89%	-65.98%	852.58%	33.04%	39.33%
Free Cash Flow Firm Growth	0.00%	0.00%	373.43%	-54.13%	-164.42%	10.68%	111.42%	-465.41%	-1,353.30%
Invested Capital Growth	0.00%	175.59%	-240.74%	-47.39%	72.70%	38.97%	4.96%	19.85%	135.96%
Revenue Q/Q Growth	0.00%	0.00%	55.10%	-1.59%	6.35%	9.60%	5.53%	3.59%	14.76%
EBITDA Q/Q Growth	0.00%	0.00%	-257.01%	3.77%	-9.90%	11.76%	26.73%	-0.13%	22.84%
EBIT Q/Q Growth	0.00%	0.00%	11.68%	3.19%	-28.77%	34.08%	50.03%	-3.85%	32.14%
NOPAT Q/Q Growth	0.00%	0.00%	14.33%	3.74%	-30.31%	35.75%	41.38%	0.33%	33.26%
Net Income Q/Q Growth	0.00%	0.00%	13.51%	2.54%	-32.36%	32.26%	57.04%	-2.28%	36.58%
EPS Q/Q Growth	0.00%	0.00%	20.00%	1.30%	-31.58%	28.13%	59.32%	-3.68%	35.29%
Operating Cash Flow Q/Q Growth	0.00%	68.19%	-34.09%	18.54%	-23.13%	-43.97%	30.14%	18.93%	5.85%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-47.23%	-175.00%	27.27%	158.47%	-102.20%	-10.91%
Invested Capital Q/Q Growth	0.00%	0.00%	-138.02%	-7.13%	22.43%	5.08%	-0.49%	3.90%	9.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	48.03%	58.54%	60.24%	15.56%	13.17%	10.70%	12.56%	14.16%	15.61%
EBITDA Margin	35.96%	51.14%	45.40%	12.10%	8.89%	7.83%	10.72%	11.21%	13.41%
Operating Margin	24.60%	36.13%	29.18%	7.03%	3.31%	2.72%	5.24%	6.10%	7.99%
EBIT Margin	24.49%	36.19%	29.39%	7.07%	3.40%	2.77%	5.64%	6.10%	8.00%
Profit (Net Income) Margin	9.17%	22.40%	22.02%	5.13%	2.22%	1.64%	3.13%	3.78%	3.62%
Tax Burden Percent	127.70%	338.29%	309.70%	76.82%	70.76%	75.50%	74.92%	74.85%	75.65%
Interest Burden Percent	263.79%	390.75%	387.07%	94.40%	92.23%	78.62%	74.21%	82.85%	59.82%
Effective Tax Rate	108.44%	52.58%	74.92%	24.33%	29.28%	24.42%	25.08%	25.15%	24.34%
Return on Invested Capital (ROIC)	16.36%	22.86%	7.81%	8.77%	4.75%	3.95%	7.59%	9.15%	10.20%
ROIC Less NNEP Spread (ROIC-NNEP)	7.68%	39.54%	7.47%	10.77%	2.86%	1.82%	3.76%	5.22%	2.81%
Return on Net Nonoperating Assets (RNNOA)	0.75%	-0.73%	-1.68%	-2.21%	0.43%	1.09%	2.49%	3.50%	3.50%
Return on Equity (ROE)	17.11%	22.49%	6.13%	6.55%	5.18%	5.03%	10.08%	12.65%	13.70%
Cash Return on Invested Capital (CROIC)	0.00%	-452.56%	134.29%	70.87%	-48.57%	-28.67%	2.75%	-8.91%	-70.73%
Operating Return on Assets (OROA)	28.23%	44.76%	33.59%	9.58%	4.31%	3.79%	7.61%	8.05%	9.41%
Return on Assets (ROA)	15.85%	24.63%	25.17%	6.95%	2.81%	2.25%	4.23%	4.99%	4.26%
Return on Common Equity (ROCE)	34.22%	67.47%	18.40%	6.55%	5.18%	5.03%	10.08%	12.65%	13.70%
Return on Equity Simple (ROE_SIMPLE)	17.11%	16.96%	12.55%	10.46%	4.93%	4.69%	9.49%	12.02%	0.00%
Net Operating Profit after Tax (NOPAT)	30	101	86	42	21	27	61	83	170
NOPAT Margin	10.47%	22.35%	16.42%	5.32%	2.34%	2.06%	3.92%	4.57%	6.05%
Net Nonoperating Expense Percent (NNEP)	12.52%	3.08%	0.35%	-2.00%	1.88%	2.12%	3.83%	3.92%	7.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	6.74%
Cost of Revenue to Revenue	251.97%	256.09%	254.82%	84.45%	86.83%	89.30%	87.44%	85.84%	84.39%
SG&A Expenses to Revenue	25.27%	32.53%	32.03%	8.73%	10.09%	8.26%	8.12%	8.31%	7.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.43%	22.41%	31.06%	8.53%	9.86%	7.98%	7.67%	8.06%	7.62%
Earnings before Interest and Taxes (EBIT)	46	185	173	56	31	36	88	111	225
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	68	261	89	95	81	102	168	204	377
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.89	7.64	9.34	2.45	4.44	3.02	3.73	6.42	7.81
Price to Tangible Book Value (P/TBV)	1.13	8.71	10.64	2.81	5.74	4.44	5.71	11.45	0.00
Price to Revenue (P/Rev)	0.24	2.55	4.10	1.20	1.92	1.06	1.23	2.02	2.53
Price to Earnings (P/E)	5.18	45.07	74.42	23.39	86.58	35.32	38.50	63.78	72.21
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	19.29%	35.59%	21.50%	4.28%	1.16%	2.83%	2.60%	1.57%	1.38%
Enterprise Value to Invested Capital (EV/IC)	1.81	8.17	9.87	2.70	3.35	2.17	2.70	4.13	3.65
Enterprise Value to Revenue (EV/Rev)	0.58	3.14	3.94	1.13	2.09	1.31	1.43	2.25	3.04
Enterprise Value to EBITDA (EV/EBITDA)	4.83	24.60	34.70	9.32	23.50	16.79	13.37	20.06	22.69
Enterprise Value to EBIT (EV/EBIT)	7.10	34.77	53.59	15.94	61.57	47.52	25.41	36.89	38.03
Enterprise Value to NOPAT (EV/NOPAT)	16.60	42.19	71.95	21.20	89.43	63.94	36.50	49.26	50.29
Enterprise Value to Operating Cash Flow (EV/OCF)	3.51	32.33	41.87	8.42	39.25	103.73	14.25	19.62	29.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	12.56	2.62	0.00	0.00	100.84	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	1.13	0.63	0.58	0.24	0.55	0.82	0.73	0.90	1.77
Long-Term Debt to Equity	0.93	0.64	0.49	0.21	0.52	0.80	0.70	0.85	1.73
Financial Leverage	0.19	-0.06	-0.90	-0.21	0.15	0.60	0.66	0.67	1.24
Leverage Ratio	6.48	7.31	6.40	1.59	1.84	2.24	2.38	2.53	3.22
Compound Leverage Factor	5.70	5.35	6.19	1.50	1.70	1.76	1.77	2.10	1.93
Debt to Total Capital	81.89%	52.07%	50.82%	19.29%	35.47%	45.17%	42.11%	47.23%	63.87%
Short-Term Debt to Total Capital	14.33%	12.23%	5.75%	2.72%	1.64%	1.50%	1.68%	2.44%	1.53%
Long-Term Debt to Total Capital	67.56%	39.83%	43.15%	16.56%	33.83%	43.67%	40.43%	44.79%	62.34%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	218.11%	165.26%	349.18%	80.71%	64.53%	54.83%	57.89%	52.77%	36.13%
Debt to EBITDA	0.84	2.17	1.69	0.97	2.67	3.68	2.24	2.51	4.28
Net Debt to EBITDA	1.30	-1.31	-1.40	-0.59	1.96	3.27	1.86	2.05	3.79
Long-Term Debt to EBITDA	1.38	1.66	1.91	0.83	2.55	3.56	2.15	2.38	4.17
Debt to NOPAT	5.76	3.72	4.67	2.20	10.15	14.03	6.13	6.17	9.48
Net Debt to NOPAT	2.98	-1.50	-2.18	-1.35	7.46	12.45	5.08	5.03	8.41
Long-Term Debt to NOPAT	4.75	2.85	3.96	1.89	9.69	13.57	5.88	5.85	9.25
Altman Z-Score	2.97	12.20	20.14	4.59	4.40	3.05	3.64	4.15	3.25
Noncontrolling Interest Sharing Ratio	0.00%	0.04%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	4.59	5.96	8.74	2.44	1.90	1.84	1.70	1.54	1.61
Quick Ratio	4.01	6.52	6.88	2.06	1.36	1.33	1.26	1.12	1.21
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,003	737	338	-218	-194	22	-81	-1,179
Operating Cash Flow to CapEx	709.47%	523.76%	436.11%	212.33%	92.07%	26.90%	196.17%	283.03%	242.43%
Free Cash Flow to Firm to Interest Expense	0.00	-1,184.85	527.80	108.55	-90.55	0.00	0.00	0.00	-13.05
Operating Cash Flow to Interest Expense	25.15	156.19	118.80	33.79	20.17	0.00	0.00	0.00	3.22
Operating Cash Flow Less CapEx to Interest Expense	14.51	156.38	37.08	17.87	-1.74	0.00	0.00	0.00	1.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	5.19	6.60	4.57	1.35	1.27	1.37	1.35	1.32	1.18
Accounts Receivable Turnover	371.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	81.87	110.47	90.44	18.21	17.13	18.16	17.28	16.42	18.13
Fixed Asset Turnover	14.71	18.47	16.29	3.55	2.84	2.94	3.17	3.21	3.15
Accounts Payable Turnover	27.32	40.07	39.73	9.82	10.47	10.72	9.70	9.38	10.17
Days Sales Outstanding (DSO)	5.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	40.12	52.87	64.57	20.04	21.31	20.09	21.12	22.23	20.13
Days Payable Outstanding (DPO)	120.23	109.31	146.98	37.18	34.88	34.05	37.63	38.93	35.90
Cash Conversion Cycle (CCC)	-71.26	-92.88	-82.41	-17.14	-13.56	-13.95	-16.50	-16.70	-15.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	182	785	625	329	568	789	828	992	2,342
Invested Capital Turnover	6.25	12.27	5.71	1.65	2.03	1.92	1.93	2.00	1.69
Increase / (Decrease) in Invested Capital	0.00	1,809	-479	-296	239	221	39	164	1,349
Enterprise Value (EV)	165	1,102	3,084	886	1,904	1,711	2,239	4,102	8,553
Market Capitalization	270	622	805	942	1,745	1,378	1,928	3,683	7,123
Book Value per Share	$3.66	$18.86	$20.01	$7.44	$7.52	$8.68	$9.80	$10.87	$16.26
Tangible Book Value per Share	$2.86	$10.83	$11.70	$6.48	$5.81	$5.91	$6.41	$6.09	($1.97)
Total Capital	209	1,087	787	477	610	831	892	1,087	2,524
Total Debt	57	189	100	92	216	376	376	514	1,612
Total Long-Term Debt	47	144	42	79	206	363	361	487	1,574
Net Debt	30	-114	-62	-56	159	333	311	419	1,430
Capital Expenditures (CapEx)	20	114	76	50	53	61	80	74	120
Debt-free, Cash-free Net Working Capital (DFCFNWC)	43	146	157	60	95	168	160	154	232
Debt-free Net Working Capital (DFNWC)	71	295	319	209	152	204	209	231	391
Net Working Capital (NWC)	61	399	304	196	142	191	194	205	353
Net Nonoperating Expense (NNE)	3.71	-0.38	-0.76	1.50	1.11	5.39	12	14	68
Net Nonoperating Obligations (NNO)	30	-114	-93	-56	174	333	311	419	1,430
Total Depreciation and Amortization (D&A)	22	51	63	39	50	66	79	93	152
Debt-free, Cash-free Net Working Capital to Revenue	22.72%	28.55%	40.20%	7.69%	10.41%	12.91%	10.24%	8.47%	8.26%
Debt-free Net Working Capital to Revenue	37.27%	86.86%	81.37%	26.57%	16.70%	15.64%	13.38%	12.67%	13.91%
Net Working Capital to Revenue	31.99%	78.17%	77.52%	24.91%	15.60%	14.68%	12.42%	11.22%	12.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.63	$1.11	$0.84	$0.78	$0.39	$0.41	$0.95	$1.33	$1.85
Adjusted Weighted Average Basic Shares Outstanding	41.55M	45.61M	51.42M	51.49M	51.64M	51.77M	51.83M	51.88M	54.94M
Adjusted Diluted Earnings per Share	$0.63	$1.11	$0.84	$0.78	$0.39	$0.41	$0.94	$1.31	$1.84
Adjusted Weighted Average Diluted Shares Outstanding	41.55M	45.92M	51.43M	51.64M	51.77M	51.96M	52.26M	52.57M	55.37M
Adjusted Basic & Diluted Earnings per Share	$0.63	$1.11	$0.84	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	51.41M	51.78M	51.78M	52.37M	52.69M	52.71M	55.88M	56.53M
Normalized Net Operating Profit after Tax (NOPAT)	28	109	124	41	20	24	56	80	181
Normalized NOPAT Margin	14.53%	16.09%	21.16%	5.16%	2.18%	1.84%	3.59%	4.38%	6.45%
Pre Tax Income Margin	21.53%	35.32%	28.44%	6.68%	3.13%	2.18%	4.18%	5.05%	4.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	16.57	48.45	123.71	17.85	12.86	0.00	0.00	0.00	2.49
NOPAT to Interest Expense	15.94	119.68	92.14	13.43	8.86	0.00	0.00	0.00	1.88
EBIT Less CapEx to Interest Expense	14.22	123.13	41.98	1.94	-9.05	0.00	0.00	0.00	1.16
NOPAT Less CapEx to Interest Expense	5.31	87.55	10.41	-2.49	-13.06	0.00	0.00	0.00	0.55
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	240.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	360.52%	0.00%	0.00%	0.00%	0.00%	0.18%	0.28%	16.41%	23.13%

This table displays calculated financial ratios and metrics derived from Construction Partners' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.95%	20.86%	16.01%	14.34%	22.73%	13.29%	41.63%	53.91%	50.50%	67.21%	44.14%
EBITDA Growth	50.58%	97.72%	52.74%	46.45%	29.62%	-0.36%	21.12%	153.87%	78.50%	98.39%	108.79%
EBIT Growth	86.13%	141.93%	162.61%	245.05%	35.04%	-8.87%	-14.83%	767.88%	82.08%	119.83%	252.49%
NOPAT Growth	84.77%	115.07%	154.98%	220.74%	37.08%	0.87%	-23.95%	866.32%	83.24%	124.33%	293.81%
Net Income Growth	78.15%	135.71%	420.24%	79.49%	42.58%	-5.19%	-131.00%	475.00%	42.51%	93.02%	663.91%
EPS Growth	78.26%	140.00%	375.00%	81.82%	43.90%	-8.33%	-131.58%	500.00%	33.90%	87.27%	616.67%
Operating Cash Flow Growth	475.31%	138.82%	109.04%	8.09%	-29.10%	53.16%	-32.65%	206.15%	139.73%	16.78%	103.05%
Free Cash Flow Firm Growth	79.43%	97.31%	81.34%	52.28%	-57.67%	-2,263.25%	-2,993.77%	-1,712.07%	-1,171.33%	-875.66%	32.75%
Invested Capital Growth	10.84%	4.96%	5.37%	7.71%	14.80%	19.85%	114.07%	127.74%	124.67%	135.96%	37.51%
Revenue Q/Q Growth	29.87%	12.59%	-16.53%	-6.32%	39.41%	3.93%	4.35%	1.79%	36.32%	15.47%	-10.04%
EBITDA Q/Q Growth	200.60%	33.79%	-46.99%	-31.30%	166.05%	2.85%	-35.56%	44.00%	87.04%	14.30%	-32.18%
EBIT Q/Q Growth	1,671.44%	48.07%	-66.65%	-81.31%	1,362.98%	-0.08%	-68.83%	90.67%	206.63%	20.63%	-50.02%
NOPAT Q/Q Growth	1,505.58%	33.92%	-62.19%	-83.04%	1,495.79%	-1.46%	-71.49%	115.55%	202.60%	20.64%	-49.95%
Net Income Q/Q Growth	495.49%	42.61%	-68.16%	-111.42%	2,849.82%	-5.18%	-110.41%	238.15%	945.01%	28.43%	-69.59%
EPS Q/Q Growth	472.73%	46.34%	-68.33%	-110.53%	3,050.00%	-6.78%	-110.91%	233.33%	887.50%	30.38%	-69.90%
Operating Cash Flow Q/Q Growth	190.54%	28.19%	-3.57%	-69.90%	90.57%	176.91%	-57.60%	36.82%	49.23%	34.89%	-26.27%
Free Cash Flow Firm Q/Q Growth	56.77%	90.19%	-481.11%	-93.55%	-42.84%	-47.11%	-660.74%	-13.36%	-0.21%	-12.89%	47.56%
Invested Capital Q/Q Growth	-0.12%	-0.49%	6.13%	2.11%	6.45%	3.90%	89.56%	8.63%	5.01%	9.12%	10.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.19%	15.90%	13.08%	10.45%	16.12%	15.62%	13.63%	12.48%	16.91%	17.71%	15.01%
EBITDA Margin	12.67%	15.05%	9.56%	7.01%	13.38%	13.24%	8.17%	11.56%	15.87%	15.71%	11.84%
Operating Margin	7.90%	9.42%	4.22%	0.83%	8.82%	8.50%	2.46%	4.77%	10.64%	11.20%	6.23%
EBIT Margin	8.02%	10.55%	4.21%	0.84%	8.82%	8.48%	2.53%	4.75%	10.68%	11.15%	6.20%
Profit (Net Income) Margin	5.14%	6.51%	2.48%	-0.30%	5.97%	5.45%	-0.54%	0.74%	5.65%	6.29%	2.13%
Tax Burden Percent	75.28%	75.10%	75.94%	77.79%	75.36%	74.07%	78.21%	76.11%	76.01%	75.48%	75.51%
Interest Burden Percent	85.11%	82.17%	77.58%	-46.27%	89.77%	86.67%	-27.42%	20.41%	69.66%	74.69%	45.43%
Effective Tax Rate	24.72%	24.90%	24.06%	0.00%	24.64%	25.92%	0.00%	23.65%	23.99%	24.53%	24.49%
Return on Invested Capital (ROIC)	11.14%	13.68%	6.06%	1.12%	13.09%	12.62%	2.48%	5.43%	12.79%	14.26%	6.44%
ROIC Less NNEP Spread (ROIC-NNEP)	10.12%	12.85%	5.27%	0.25%	12.16%	11.36%	0.70%	3.36%	10.54%	12.15%	4.89%
Return on Net Nonoperating Assets (RNNOA)	7.45%	8.51%	3.94%	0.19%	8.86%	7.61%	0.75%	4.05%	12.71%	15.12%	7.38%
Return on Equity (ROE)	18.58%	22.20%	10.00%	1.31%	21.95%	20.23%	3.23%	9.48%	25.49%	29.38%	13.82%
Cash Return on Invested Capital (CROIC)	-4.80%	2.75%	2.85%	1.09%	-4.49%	-8.91%	-66.79%	-71.22%	-68.57%	-70.73%	-22.73%
Operating Return on Assets (OROA)	10.78%	14.24%	5.67%	1.14%	11.88%	11.20%	2.62%	5.11%	12.01%	13.12%	6.40%
Return on Assets (ROA)	6.91%	8.79%	3.34%	-0.41%	8.04%	7.19%	-0.56%	0.79%	6.36%	7.40%	2.20%
Return on Common Equity (ROCE)	18.58%	22.20%	10.00%	1.31%	21.95%	20.23%	3.23%	9.48%	25.49%	29.38%	13.82%
Return on Equity Simple (ROE_SIMPLE)	6.49%	0.00%	10.93%	11.68%	12.76%	0.00%	6.91%	7.60%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	25	34	13	2.16	34	34	9.67	21	63	76	38
NOPAT Margin	5.95%	7.08%	3.21%	0.58%	6.64%	6.30%	1.72%	3.64%	8.09%	8.45%	4.70%
Net Nonoperating Expense Percent (NNEP)	1.02%	0.84%	0.78%	0.87%	0.93%	1.26%	1.78%	2.07%	2.24%	2.11%	1.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.32%	-	-	-	0.48%	0.96%	2.76%	3.01%	1.40%
Cost of Revenue to Revenue	84.81%	84.10%	86.92%	89.55%	83.88%	84.38%	86.37%	87.52%	83.09%	82.29%	84.99%
SG&A Expenses to Revenue	7.64%	6.95%	8.94%	9.89%	7.52%	7.40%	7.88%	8.16%	6.55%	6.37%	7.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.28%	7.61%	8.86%	9.62%	7.31%	7.12%	11.18%	7.71%	6.27%	6.51%	8.78%
Earnings before Interest and Taxes (EBIT)	34	50	17	3.12	46	46	14	27	83	100	50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	53	72	38	26	69	71	46	66	124	141	96
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.44	3.73	4.40	5.65	5.27	6.42	6.09	4.98	6.98	7.81	6.33
Price to Tangible Book Value (P/TBV)	5.47	5.71	7.06	9.21	8.79	11.45	62.77	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.12	1.23	1.42	1.78	1.66	2.02	2.49	1.84	2.43	2.53	2.01
Price to Earnings (P/E)	33.90	38.50	39.55	47.55	40.73	63.78	110.21	80.12	94.04	72.21	52.12
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.95%	2.60%	2.53%	2.10%	2.46%	1.57%	0.91%	1.25%	1.06%	1.38%	1.92%
Enterprise Value to Invested Capital (EV/IC)	2.41	2.70	3.02	3.72	3.47	4.13	3.20	2.57	3.38	3.65	3.00
Enterprise Value to Revenue (EV/Rev)	1.35	1.43	1.64	2.01	1.88	2.25	3.02	2.40	2.96	3.04	2.53
Enterprise Value to EBITDA (EV/EBITDA)	15.18	13.37	14.68	17.68	16.21	20.06	28.30	20.82	23.62	22.69	18.16
Enterprise Value to EBIT (EV/EBIT)	34.16	25.41	26.93	32.18	28.71	36.89	55.32	39.62	42.58	38.03	29.73
Enterprise Value to NOPAT (EV/NOPAT)	46.25	36.50	38.34	45.31	39.99	49.26	74.53	53.12	56.78	50.29	39.18
Enterprise Value to Operating Cash Flow (EV/OCF)	16.62	14.25	14.06	17.57	18.88	19.62	31.75	23.18	26.33	29.36	23.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	100.84	108.76	354.60	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.87	0.73	0.85	0.84	0.86	0.90	1.51	1.68	1.68	1.77	1.80
Long-Term Debt to Equity	0.84	0.70	0.82	0.81	0.82	0.85	1.46	1.63	1.63	1.73	1.76
Financial Leverage	0.74	0.66	0.75	0.77	0.73	0.67	1.07	1.21	1.21	1.24	1.51
Leverage Ratio	2.42	2.38	2.45	2.51	2.53	2.53	2.89	3.05	3.10	3.22	3.33
Compound Leverage Factor	2.06	1.96	1.90	-1.16	2.27	2.20	-0.79	0.62	2.16	2.40	1.51
Debt to Total Capital	46.58%	42.11%	45.89%	45.51%	46.36%	47.23%	60.08%	62.73%	62.65%	63.87%	64.27%
Short-Term Debt to Total Capital	1.55%	1.68%	1.56%	1.56%	2.32%	2.44%	1.86%	1.86%	1.69%	1.53%	1.42%
Long-Term Debt to Total Capital	45.02%	40.43%	44.34%	43.95%	44.04%	44.79%	58.23%	60.87%	60.96%	62.34%	62.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.42%	57.89%	54.11%	54.49%	53.64%	52.77%	39.92%	37.27%	37.35%	36.13%	35.73%
Debt to EBITDA	3.17	2.24	2.45	2.32	2.33	2.51	5.75	5.38	4.66	4.28	4.08
Net Debt to EBITDA	2.66	1.86	1.98	1.97	1.97	2.05	5.04	4.89	4.21	3.79	3.79
Long-Term Debt to EBITDA	3.07	2.15	2.36	2.24	2.22	2.38	5.57	5.22	4.54	4.17	3.99
Debt to NOPAT	9.67	6.13	6.39	5.95	5.76	6.17	15.13	13.74	11.21	9.48	8.81
Net Debt to NOPAT	8.09	5.08	5.17	5.05	4.85	5.03	13.26	12.49	10.13	8.41	8.18
Long-Term Debt to NOPAT	9.34	5.88	6.17	5.75	5.47	5.85	14.66	13.33	10.91	9.25	8.61
Altman Z-Score	3.22	3.54	3.60	3.97	3.78	4.01	2.77	2.32	2.93	3.12	2.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.83	1.70	1.75	1.64	1.60	1.54	1.54	1.42	1.47	1.61	1.59
Quick Ratio	1.29	1.26	1.23	1.12	1.15	1.12	1.10	1.00	1.05	1.21	1.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-56	-5.52	-32	-62	-89	-131	-993	-1,125	-1,128	-1,273	-668
Operating Cash Flow to CapEx	341.39%	456.84%	248.23%	69.27%	293.31%	833.32%	162.72%	149.37%	264.39%	422.17%	275.92%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-8.57	-13.60	0.00	0.00	-54.76	-52.12	-44.69	-50.14	-24.39
Operating Cash Flow to Interest Expense	0.00	0.00	16.12	3.98	0.00	0.00	2.24	2.58	3.29	4.41	3.02
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	9.62	-1.76	0.00	0.00	0.86	0.85	2.05	3.36	1.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.34	1.35	1.35	1.36	1.35	1.32	1.03	1.08	1.12	1.18	1.03
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	15.83	17.28	15.90	15.18	15.68	16.42	14.11	15.01	16.49	18.13	16.35
Fixed Asset Turnover	3.10	3.17	3.05	3.12	3.26	3.21	2.50	2.62	2.84	3.15	2.68
Accounts Payable Turnover	10.64	9.70	11.50	10.91	10.59	9.38	11.25	11.00	10.36	10.17	13.12
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	23.05	21.12	22.96	24.04	23.28	22.23	25.87	24.32	22.13	20.13	22.33
Days Payable Outstanding (DPO)	34.31	37.63	31.73	33.45	34.47	38.93	32.45	33.19	35.22	35.90	27.83
Cash Conversion Cycle (CCC)	-11.26	-16.50	-8.77	-9.41	-11.18	-16.70	-6.58	-8.87	-13.09	-15.76	-5.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	832	828	879	897	955	992	1,881	2,044	2,146	2,342	2,587
Invested Capital Turnover	1.87	1.93	1.89	1.92	1.97	2.00	1.44	1.49	1.58	1.69	1.37
Increase / (Decrease) in Invested Capital	81	39	45	64	123	164	1,002	1,146	1,191	1,349	706
Enterprise Value (EV)	2,007	2,239	2,652	3,339	3,319	4,102	6,013	5,257	7,248	8,553	7,754
Market Capitalization	1,656	1,928	2,295	2,966	2,917	3,683	4,943	4,021	5,955	7,123	6,136
Book Value per Share	$9.12	$9.80	$10.04	$9.94	$10.47	$10.87	$14.52	$14.44	$15.23	$16.26	$17.15
Tangible Book Value per Share	$5.74	$6.41	$6.26	$6.10	$6.28	$6.09	$1.41	($0.31)	($0.08)	($1.97)	($3.30)
Total Capital	901	892	963	963	1,031	1,087	2,032	2,168	2,284	2,524	2,712
Total Debt	419	376	442	438	478	514	1,221	1,360	1,431	1,612	1,743
Total Long-Term Debt	405	361	427	423	454	487	1,183	1,319	1,393	1,574	1,705
Net Debt	351	311	358	372	402	419	1,070	1,236	1,293	1,430	1,618
Capital Expenditures (CapEx)	14	14	24	26	12	12	25	37	31	27	30
Debt-free, Cash-free Net Working Capital (DFCFNWC)	160	160	144	150	174	154	158	153	179	232	235
Debt-free Net Working Capital (DFNWC)	214	209	213	200	232	231	291	256	296	391	339
Net Working Capital (NWC)	200	194	198	185	208	205	253	216	257	353	301
Net Nonoperating Expense (NNE)	3.42	2.70	2.87	3.28	3.50	4.60	13	17	19	19	21
Net Nonoperating Obligations (NNO)	351	311	358	372	402	419	1,070	1,236	1,293	1,430	1,618
Total Depreciation and Amortization (D&A)	20	21	21	23	24	26	32	39	40	41	46
Debt-free, Cash-free Net Working Capital to Revenue	10.77%	10.24%	8.88%	9.00%	9.86%	8.47%	7.94%	6.97%	7.32%	8.26%	7.69%
Debt-free Net Working Capital to Revenue	14.48%	13.38%	13.19%	12.03%	13.18%	12.67%	14.64%	11.71%	12.07%	13.91%	11.09%
Net Working Capital to Revenue	13.53%	12.42%	12.26%	11.13%	11.82%	11.22%	12.74%	9.86%	10.50%	12.54%	9.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.60	$0.19	($0.02)	$0.60	$0.56	($0.06)	$0.08	$0.80	$1.03	$0.31
Adjusted Weighted Average Basic Shares Outstanding	51.83M	51.83M	51.89M	51.94M	51.91M	51.88M	54.16M	55.25M	55.16M	54.94M	55.81M
Adjusted Diluted Earnings per Share	$0.41	$0.60	$0.19	($0.02)	$0.59	$0.55	($0.06)	$0.08	$0.79	$1.03	$0.31
Adjusted Weighted Average Diluted Shares Outstanding	52.29M	52.26M	52.43M	51.94M	52.65M	52.57M	54.16M	55.67M	55.65M	55.37M	56.05M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.73M	52.71M	52.83M	52.83M	52.76M	55.88M	55.95M	56.03M	56.09M	56.53M	56.52M
Normalized Net Operating Profit after Tax (NOPAT)	24	32	12	1.43	34	33	23	19	61	77	45
Normalized NOPAT Margin	5.68%	6.72%	3.15%	0.39%	6.49%	6.09%	4.03%	3.30%	7.88%	8.56%	5.60%
Pre Tax Income Margin	6.83%	8.67%	3.27%	-0.39%	7.92%	7.35%	-0.69%	0.97%	7.44%	8.33%	2.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	4.46	0.68	0.00	0.00	0.78	1.26	3.30	3.95	1.83
NOPAT to Interest Expense	0.00	0.00	3.39	0.47	0.00	0.00	0.53	0.96	2.50	2.99	1.39
EBIT Less CapEx to Interest Expense	0.00	0.00	-2.03	-5.06	0.00	0.00	-0.59	-0.47	2.05	2.91	0.74
NOPAT Less CapEx to Interest Expense	0.00	0.00	-3.10	-5.27	0.00	0.00	-0.85	-0.76	1.25	1.95	0.30
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.28%	2.35%	0.00%	0.00%	16.41%	39.36%	0.00%	0.00%	23.13%	29.81%

Financials Breakdown Chart

Key Financial Trends

Construction Partners (ROAD) has shown a mix of strong revenue growth tied to acquisitions, improving operating cash flow through 2025, and higher leverage to fund expansion. Below are the key trends drawn from ROAD’s quarterly cash flow statements, income statements, and balance sheets for the past four years.

Revenue surged in late 2025 as acquisitions boosted operating revenue to about $899.8 million in Q4 2025, up from $538.2 million in Q4 2024.
Operating cash flow strengthened through 2025, rising from roughly $40.7 million in Q1 2025 to about $111.99 million in Q4 2025, signaling improved cash generation from core operations.
Debt financing supported growth: ROAD issued approximately $60.9 million of debt in Q4 2025 and about $140.0 million of debt in Q1 2026, improving liquidity to fund acquisitions and expansion.
Net income attributable to common shareholders showed meaningful profitability in late 2025, with Q4 2025 net income around $53.44 million (and solid levels in Q3 2025, ~ $44.04 million).
Earnings per share in Q4 2025 reached $1.03 (basic and diluted), reflecting stronger profitability per share during that period.
Large investing outflows remain a hallmark of ROAD’s strategy, with net cash from investing activities of about $139.9 million (Q3 2025) and about $247.1 million (Q4 2025), driven by acquisitions and capital expenditures.
Leverage remains high: long-term debt around $1.70 billion and total liabilities near $2.39 billion versus equity of about $969 million (Q1 2026 balance sheet), indicating elevated leverage that could pressure margins if financing costs rise.
Quarterly revenue shows some volatility across periods; 2024–2025 data reveal uneven quarterly patterns with a notable spike in Q4 2025 followed by a softer Q1 2026.
Cash balance and near-term liquidity are pressured by heavy investing; net change in cash and equivalents in Q1 2026 was about −$54.8 million, reflecting ongoing cash use for acquisitions and capital investments.
Interest expense remains substantial (e.g., about $27.37 million in Q1 2026), contributing to ongoing cash outflows and potential margin pressure if revenue growth slows.

05/09/26 03:39 AM ETAI Generated. May Contain Errors.

Construction Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Construction Partners' financial year ends in September. Their financial year 2025 ended on September 30, 2025.

Construction Partners' net income appears to be on an upward trend, with a most recent value of $101.78 million in 2025, rising from $26.04 million in 2017. The previous period was $68.94 million in 2024. Find out what analysts predict for Construction Partners in the coming months.

Construction Partners' total operating income in 2025 was $224.81 million, based on the following breakdown:

Total Gross Profit: $439.09 million
Total Operating Expenses: $214.28 million

Over the last 8 years, Construction Partners' total revenue changed from $568.21 million in 2017 to $2.81 billion in 2025, a change of 394.9%.

Construction Partners' total liabilities were at $2.33 billion at the end of 2025, a 140.3% increase from 2024, and a 1,219.3% increase since 2017.

In the past 8 years, Construction Partners' cash and equivalents has ranged from $27.55 million in 2017 to $156.06 million in 2025, and is currently $156.06 million as of their latest financial filing in 2025.

Over the last 8 years, Construction Partners' book value per share changed from 3.66 in 2017 to 16.26 in 2025, a change of 343.9%.

Related Companies

Financial statements for NASDAQ:ROAD last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Construction Partners (ROAD) Financials

Financials Breakdown Chart

Key Financial Trends

Construction Partners Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Construction Partners (ROAD) Financials

Annual Income Statements for Construction Partners

Quarterly Income Statements for Construction Partners

Annual Cash Flow Statements for Construction Partners

Quarterly Cash Flow Statements for Construction Partners

Annual Balance Sheets for Construction Partners

Quarterly Balance Sheets for Construction Partners

Annual Metrics And Ratios for Construction Partners

Quarterly Metrics And Ratios for Construction Partners

Financials Breakdown Chart

Key Financial Trends

Construction Partners Financials - Frequently Asked Questions

When does Construction Partners' fiscal year end?

How has Construction Partners' net income changed over the last 8 years?

What is Construction Partners' operating income?

How has Construction Partners' revenue changed over the last 8 years?

How much debt does Construction Partners have?

How much cash does Construction Partners have?

How has Construction Partners' book value per share changed over the last 8 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools