CRH (CRH) Q4 2025 earnings summary

Executive summary

• Achieved record financial performance in 2025, with total revenues of $37.4 billion (+5% YoY), double-digit Adjusted EBITDA growth (+11% YoY), and 12th consecutive year of margin expansion, driven by strong end-market demand, pricing, and acquisitions.

• Invested $4.1 billion in 38 acquisitions and $1.7 billion in high-return growth CapEx, supporting organic and inorganic growth.

• Returned $2.2 billion to shareholders via $1 billion in dividends and $1.2 billion in share buybacks, continuing a 42-year streak of dividend growth.

• Outperformed the S&P 500 in total shareholder return over 1, 10, and 55 years; included in the S&P 500 Index.

• Positive outlook for 2026, with expected Adjusted EBITDA of $8.1–$8.5 billion.

Financial highlights

• Full-year 2025 revenues reached $37.4 billion (+5% YoY), with Q4 revenues at $9.4 billion (+6% YoY), driven by end-market demand and acquisitions.

• Adjusted EBITDA was $7.7 billion (+11% YoY), with Q4 at $2.0 billion (+14% YoY); margin improved to 20.5% (+100bps YoY).

• Diluted EPS for FY 2025 was $5.51 (+10% YoY); pre-impairment EPS was $5.57 (+3% YoY).

• Adjusted Free Cash Flow was $5.0 billion (+18% YoY), with a 130% conversion ratio of net income.

• Net cash from operating activities was $5.6 billion (+13% YoY).

Outlook and guidance

• 2026 guidance: Adjusted EBITDA of $8.1–$8.5 billion, net income of $3.9–$4.1 billion, diluted EPS of $5.60–$6.05.

• Capital expenditure expected at $2.8–$3.0 billion; effective tax rate of 24%; average diluted share count of 675 million.

• 2030 targets: 7–9% annual revenue growth, Adjusted EBITDA margin of 22–24%, and over 100% Adjusted Free Cash Flow conversion.

• Positive outlook supported by robust infrastructure funding, strong demand in transportation, water, reindustrialization, and resilient repair/remodel activity.

• Guidance includes $200 million incremental EBITDA from 2025 acquisitions, offset by a divestiture.