CRHNYSE·Construction Materials

CRH plc CRH

Market cap $56.7BP/E 19.2× trailingGross margin 39.4%Reports Wed 4 Nov, before the open

$84.84

−0.39 (−0.45%)live 09:30 ET

52-wk $84.64 – $131.55

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Orin's take

0.72conviction · high

Refreshed 16 Aug · take v7. A new filing or a print queues the next refresh.

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CRH trades at a 54% PE discount and 60% EV/EBITDA discount to its basic-materials peer median despite growing revenue from $25.8B in 2021 to $37.4B in 2025 and expanding operating margins from 11.4% to 14.2%. Record Q2 2026 results with pricing momentum and resilient infrastructure demand reinforce the growth trajectory, while the $8.5B Arcosa acquisition deepens U.S. aggregates exposure in a high-demand market.

The stock's pullback below both the 50-day ($103.77) and 200-day ($113.01) moving averages to $97.15 creates an attractive entry for a company generating $2.9B in annual free cash flow, though total debt nearly doubling to $19.7B over four years tempers conviction.

What could go wrong

Debt acceleration. Total debt rose from $10.7B (2021) to $19.7B (2025); the $8.5B Arcosa deal will likely push leverage higher, pressuring balance sheet flexibility.
Housing weakness. Subdued residential activity weighed on some Q2 segments; a prolonged housing downturn could offset infrastructure tailwinds.
Technical downtrend. Stock at $97.15 trades below both the 50-day ($103.77) and 200-day ($113.01) moving averages, indicating negative momentum that could persist.
Integration and financing risk. The Arcosa deal adds execution complexity on top of recent Utah acquisitions; integration missteps or unfavorable financing terms could erode shareholder value.

What would change my mind

Debt/leverage deterioration. Total debt exceeds $24B or net debt/EBITDA rises above 3.0x following Arcosa financingbearish

Infrastructure demand softening. Federal infrastructure spending slows or quarterly revenue growth falls below 5% Y/Y for two consecutive quartersbearish

Margin reacceleration. Operating margin expands above 15% with FCF exceeding $3.5B annually post-Arcosa integrationbullish

Technical reclaim. Stock closes above the 200-day moving average ($113.01) on volume, signaling trend reversalbullish

Where this comes from: FMP annual fundamentals · peer_relative composite · peer_relative composite · FMP annual fundamentals. Orin's read on CRH; not advice.

Twelve months actual closes to 2026-09-23 · actual filings

Sept 25Nov 25Jan 26Mar 26May 26Jul 26

50-day average 200-day average · volume below

On file

All CRH filings

Form	Filed	What it says	Read
10-Q	30 Jul	CRH reported total revenues of $10.78 billion for the three months ended June 30, 2026, a 6% increase year-over-year, and $18.15 billion for the six months ended June 30, 2026, a…	read
8-K	30 Jul	CRH plc reported second quarter 2026 results with total revenues of $10.8 billion, a 6% increase year-over-year, and net income of $1.5 billion, up 13%.	read
8-K	17 Jul	CRH Americas, Inc. entered into a $2.5 billion, three-year term loan facility on July 17, 2026, reducing the prior $5.75 billion bridge facility commitment to $3.25 billion. This…	read
8-K	22 Jun	CRH Americas, Inc. entered into a Merger Agreement on June 21, 2026, to acquire Arcosa, Inc. for $150.00 per share in cash. The transaction triggers Item 1.01 and Item 7.01 of…	read
8-K	16 Jun	CRH plc increased its Board of Directors from 12 to 13 members, appointing W.	read
8-K	21 May	CRH public limited company announced on May 21, 2026, that holders of its 7% "A" cumulative preference shares and 5% cumulative preference shares approved the cancellation of…	read
8-K	15 May	CRH replaced CFO Nancy Buese with Aylwyn Bryan effective May 12, 2026; the change is framed as mutual and not tied to any operational dispute.	read
8-K	7 May	CRH’s 2026 AGM on 7 May 2026 passed every management proposal, most critically the cancellation of all 5% and 7% “A” cumulative preference shares via schemes of arrangement and a…	read

Largest holders · 13F Q2 2024

Money flow

Filer	Position	Of fund
Scopus Asset Management, L.P	$53.9M	1.1% of fund
Lattice Capital Management	$435K	0.0% of fund

2 filers · quarter ended Q2 2024 · positions, not flows

Insiders, last 24 months: 125 Form 4 filings, net −$22.2M. Of the 50 on hand, 0 were open-market purchases and 1 a sale— the rest are grants, option exercises and tax withholding.

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Where it trades

vs its own 5y · Basic Materials

Metric	Now	Own median	Sector
P/E	19.2×	18.2×	29.8×
EV/EBITDA	12.8×	10.4×	—
P/S	2.61×	1.60×	—
P/B	2.4×	2.6×	—

Its P/E sits 80th percentile of its own last 5 years (+0.54σ from its own mean).

What the price assumes

7.4%

free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $2.9B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.

What Wall Street published

21 firms · 2026-09-23

Consensus target

$136

$107 – $166 · +60% against today's price

How they rate it

15 buy or overweight
6 hold
0 underweight or sell

The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.

Against the companies it is compared to

median P/E 29.3× of 6 peers

Company	Market cap	P/E	EV/EBITDA	Gross	Net	ROE
CRHCRH plc	$57B	19.2×	12.8×	39.4%	13.7%	14%
ECLEcolab Inc.	$78B	36.9×	25.9×	44.1%	12.6%	21%
FCXFreeport-McMoRan Inc.	$104B	35.8×	12.3×	26.8%	11.4%	15%
MLMMartin Marietta Materials, Inc.	$29B	12.0×	16.9×	28.2%	36.8%	23%
NEMNewmont Corporation	$130B	15.5×	8.7×	54.5%	38.1%	25%
SHWThe Sherwin-Williams Company	$79B	29.8×	20.9×	49.1%	11.0%	62%
VMCVulcan Materials Company	$32B	28.8×	14.2×	27.4%	13.8%	13%

The median is of the 6 peers listed above and nothing else — check it against the column. This company trades 34.6% below it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.

What it has traded at

P/E by fiscal year

FY14 24.5×FY25 22.5×

What its sector has traded at

Basic Materials

FY14 23.8×FY26 28.6×

Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.

Every estimate on one scale

price $84.84

52-week range$85 – $132

Analyst targets$107 – $166

At own 5y-median P/E (18×)$81

At 5y P/E range (8–23×)$35 – $100

At sector P/E (30×)$133

The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.