Revenue growth remains highly seasonal, with gross margins contracting from a peak of 39.4% in 2025Q2 to 27.7% in 2026Q1 due to lower-volume winter construction cycles.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 55.89B | 37.45B | 34.35B | 31.76B | 30.41B | 25.76B | 22.52B | 24.78B | 24B | 24.3B | 26.13B | 24.05B | 19.38B | 18.03B | 17.62B | 19.28B | 17.13B | 16.84B | 21.14B | 19.68B | 18.16B | 15.16B | 11.65B | 13.55B | 11.05B | 9.1B | 8.2B | 6.66B | 8.36B | 4.59B | 4.18B |
| Revenue Growth % | 65.68% | 9.01% | 8.17% | 4.44% | 18.05% | 14.39% | -9.12% | 3.22% | -1.23% | -6.99% | 8.63% | 24.14% | 7.46% | 2.31% | -8.58% | 12.55% | 1.71% | -20.34% | 7.41% | 8.41% | 19.8% | 30.04% | -13.96% | 22.63% | 21.42% | 11.01% | 23.05% | -20.3% | 82.16% | 9.82% | 11.44% |
| Cost of Goods Sold | 36B | 23.92B | 22.09B | 20.89B | 20.36B | 17.31B | 15.11B | 16.89B | 16.25B | 16.51B | 17.71B | 16.9B | 13.91B | 13.25B | 12.99B | 14.27B | 12.55B | 12.39B | 15.18B | 14.1B | 12.98B | 10.63B | 8.16B | 9.38B | 7.66B | 6.26B | 5.27B | 4.28B | 5.67B | 0 | 2.15B |
| COGS % of Revenue | - | 63.87% | 64.3% | 65.77% | 66.95% | 67.21% | 67.1% | 68.17% | 67.7% | 67.93% | 67.79% | 70.24% | 71.77% | 73.47% | 73.72% | 74.04% | 73.24% | 73.55% | 71.81% | 71.66% | 71.51% | 70.16% | 70.03% | 69.25% | 69.35% | 68.81% | 64.28% | 64.19% | 67.8% | - | 51.49% |
| Gross Profit | 19.88B | 13.53B | 12.27B | 10.87B | 10.05B | 8.45B | 7.41B | 7.89B | 7.75B | 7.79B | 8.42B | 7.16B | 5.47B | 4.78B | 4.63B | 5.01B | 4.58B | 4.46B | 5.96B | 5.58B | 5.17B | 4.52B | 3.49B | 4.17B | 3.39B | 2.84B | 2.93B | 2.38B | 2.69B | 4.59B | 4.18B |
| Gross Margin % | 35.58% | 36.13% | 35.7% | 34.23% | 33.05% | 32.79% | 32.9% | 31.82% | 32.3% | 32.07% | 32.21% | 29.76% | 28.23% | 26.53% | 26.28% | 25.96% | 26.76% | 26.45% | 28.19% | 28.34% | 28.49% | 29.84% | 29.97% | 30.75% | 30.65% | 31.19% | 35.72% | 35.81% | 32.2% | 100% | 100% |
| Gross Profit Growth % | - | 10.29% | 12.83% | 8.17% | 19% | 13.99% | -6.04% | 1.69% | -0.49% | -7.41% | 17.58% | 30.9% | 14.32% | 3.3% | -7.47% | 9.18% | 2.9% | -25.24% | 6.82% | 7.85% | 14.35% | 29.49% | -16.13% | 23.01% | 19.33% | -3.07% | 22.74% | -11.36% | -41.35% | 9.82% | 90.7% |
| Operating Expenses | 12.52B | 8.21B | 7.51B | 6.8B | 6.56B | 5.5B | 5.02B | 5.42B | 5.55B | 5.76B | 6.38B | 5.6B | 4.43B | 3.96B | 3.76B | 4.09B | 3.81B | 3.49B | 4.09B | 3.64B | 3.36B | 3.07B | 2.39B | 2.85B | 2.29B | 2B | 2.12B | 1.75B | 1.98B | 4.21B | 3.83B |
| OpEx % of Revenue | - | 21.91% | 21.87% | 21.42% | 21.56% | 21.34% | 22.28% | 21.89% | 23.12% | 23.72% | 24.41% | 23.3% | 22.86% | 21.97% | 21.32% | 21.19% | 22.23% | 20.74% | 19.37% | 18.47% | 18.53% | 20.27% | 20.53% | 21.05% | 20.69% | 22.04% | 25.85% | 26.31% | 23.75% | 91.86% | 91.59% |
| Selling, General & Admin | 8.24B | 8.01B | 7.77B | 7.49B | 7.06B | 6.54B | 6.54B | 6.48B | 6.61B | 6.54B | 6.64B | 6.52B | 5.55B | 6.6B | 5.45B | 5.3B | 5.27B | 3.47B | 5.9B | 6.12B | 5.08B | 3.73B | -2.71B | 2.91B | 2.32B | 1.95B | 1.86B | 0 | 1.19B | 0 | 702.23M |
| SG&A % of Revenue | - | 21.4% | 22.61% | 23.57% | 23.2% | 25.38% | 29.04% | 26.15% | 27.54% | 26.91% | 25.42% | 27.11% | 28.67% | 36.59% | 30.9% | 27.47% | 30.78% | 20.6% | 27.91% | 31.09% | 27.96% | 24.64% | -23.25% | 21.45% | 21% | 21.46% | 22.7% | - | 14.3% | - | 16.81% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 192M | -256.39M | -683.48M | -499.07M | -1.04B | -1.52B | -1.06B | -1.06B | -775.84M | -262.11M | -916.78M | -1.13B | -2.64B | -1.69B | -1.21B | -1.46B | 25.2M | -1.81B | -2.48B | -1.71B | -662.11M | 5.1B | -54.19M | -35.19M | 52.77M | 258.92M | 1.75B | 789.82M | 4.21B | 3.12B |
| Operating Income | 7.37B | 5.32B | 4.92B | 4.49B | 3.76B | 2.95B | 2.39B | 2.49B | 2.2B | 2.03B | 2.04B | 1.56B | 1.04B | 823M | 874.22M | 919.15M | 777.02M | 961.63M | 1.87B | 1.94B | 1.81B | 1.45B | 1.1B | 1.31B | 1.1B | 832.83M | 808.35M | 632.61M | 706.12M | 373.5M | 351.2M |
| Operating Margin % | 13.18% | 14.21% | 14.33% | 14.13% | 12.36% | 11.45% | 10.62% | 10.05% | 9.18% | 8.35% | 7.8% | 6.46% | 5.37% | 4.56% | 4.96% | 4.77% | 4.54% | 5.71% | 8.82% | 9.88% | 9.96% | 9.57% | 9.45% | 9.7% | 9.97% | 9.15% | 9.86% | 9.5% | 8.45% | 8.14% | 8.41% |
| Operating Income Growth % | - | 8.15% | 9.69% | 19.37% | 27.46% | 23.31% | -3.95% | 12.97% | 8.61% | -0.4% | 31.02% | 49.54% | 26.36% | -5.86% | -4.89% | 18.29% | -19.2% | -48.45% | -4.03% | 7.5% | 24.6% | 31.81% | -16.18% | 19.31% | 32.18% | 3.03% | 27.78% | -10.41% | 89.05% | 6.35% | 9.24% |
| EBITDA | 10.81B | 7.48B | 6.66B | 5.97B | 5.22B | 4.41B | 3.78B | 3.98B | 3.34B | 3.05B | 3.15B | 2.48B | 1.74B | 1.55B | 1.59B | 1.73B | 1.59B | 1.77B | 2.7B | 2.67B | 2.48B | 2.04B | 1.58B | 1.89B | 1.58B | 1.27B | 1.18B | 910.11M | 979.33M | 518.7M | 486.4M |
| EBITDA Margin % | 19.35% | 19.97% | 19.38% | 18.8% | 17.18% | 17.13% | 16.8% | 16.06% | 13.92% | 12.55% | 12.05% | 10.29% | 8.96% | 8.59% | 9% | 8.99% | 9.28% | 10.53% | 12.77% | 13.56% | 13.64% | 13.48% | 13.52% | 13.95% | 14.3% | 14.01% | 14.4% | 13.67% | 11.72% | 11.31% | 11.64% |
| EBITDA Growth % | 71.3% | 12.33% | 11.51% | 14.29% | 18.4% | 16.6% | -4.88% | 19.1% | 9.48% | -3.13% | 27.25% | 42.61% | 12.12% | -2.38% | -8.54% | 9.05% | -10.32% | -34.32% | 1.12% | 7.82% | 21.14% | 29.67% | -16.59% | 19.58% | 24% | 7.96% | 29.69% | -7.07% | 88.81% | 6.64% | 8.81% |
| D&A (Non-Cash Add-back) | 3.45B | 2.16B | 1.74B | 1.48B | 1.47B | 1.46B | 1.39B | 1.49B | 1.14B | 1.02B | 1.11B | 920.04M | 695.67M | 725M | 711.46M | 814.65M | 812.93M | 811.38M | 833.99M | 725.7M | 667.63M | 592.51M | 475.17M | 576.05M | 479.25M | 441.46M | 372.01M | 277.5M | 273.22M | 145.2M | 135.2M |
| EBIT | 7.42B | 5.32B | 5.14B | 3.99B | 3.54B | 3.04B | 1.82B | 2.25B | 2.09B | 2.03B | 2.02B | 1.35B | 1.04B | 152M | 1.03B | 1.07B | 882.75M | 1.03B | 2B | 2.09B | 1.81B | 1.54B | 1.15B | 1.31B | 1.1B | 832.83M | 808.35M | 632.61M | 880.4M | 373.5M | 351.2M |
| Net Interest Income | -919.13M | -664M | -452.91M | -154.48M | -259.27M | -349.26M | -449M | -370.8M | -310.89M | -277.54M | -346.8M | -331.78M | -307.36M | -310M | -304.08M | -322.02M | -341.13M | -330.56M | -368.41M | -302.85M | -253M | -177.68M | -138.07M | -159.94M | -202.46M | -279.25M | -283.79M | -148.51M | -62.25M | -65.33M | -53.85M |
| Interest Income | 182.26M | 146M | 138.1M | 187.19M | 60.4M | 0 | 24M | 19.38M | 35.12M | 11.56M | 8.43M | 8.14M | 8.2M | 13M | 14.62M | 35.19M | 36.91M | 34.9M | 47.57M | 59.07M | 48.84M | 46.78M | 25.13M | 40.13M | 67.54M | 102.07M | 95.44M | 71.18M | 139.43M | 99.92M | 73.66M |
| Interest Expense | 1.1B | 810M | 591.01M | 341.67M | 319.67M | 349.26M | 476M | 390.18M | 346.01M | 289.1M | 355.23M | 339.93M | 315.56M | 323M | 318.69M | 357.21M | 378.04M | 365.46M | 415.98M | 361.91M | 301.84M | 224.46M | 163.2M | 200.07M | 270M | 381.31M | 379.23M | 219.68M | 201.68M | 165.25M | 127.52M |
| Other Income/Expense | -838M | -492M | -318.86M | -480M | -298M | -212.55M | -1.03B | -545.6M | -405.92M | -230.32M | -329.93M | -503.78M | -260.24M | -1.04B | -244.62M | -161.01M | -244.38M | -252.04M | -217.61M | -158.45M | -255.33M | -109.61M | -109.75M | -234.47M | -207.85M | -120.59M | -156.53M | -75.31M | -27.39M | -14.4M | -19.8M |
| Pretax Income | 6.53B | 4.83B | 4.6B | 3.98B | 3.46B | 2.74B | 1.36B | 1.94B | 1.8B | 1.8B | 1.71B | 1.05B | 779.68M | -215M | 629.59M | 758.14M | 532.64M | 709.59M | 1.65B | 1.79B | 1.55B | 1.34B | 991.09M | 1.08B | 892.97M | 712.24M | 651.82M | 557.3M | 678.73M | 359.1M | 331.4M |
| Pretax Margin % | 11.68% | 12.9% | 13.4% | 12.54% | 11.38% | 10.62% | 6.03% | 7.85% | 7.49% | 7.4% | 6.54% | 4.37% | 4.02% | -1.19% | 3.57% | 3.93% | 3.11% | 4.21% | 7.79% | 9.07% | 8.55% | 8.85% | 8.5% | 7.97% | 8.08% | 7.83% | 7.95% | 8.37% | 8.12% | 7.83% | 7.93% |
| Income Tax | 1.41B | 1.04B | 1.08B | 925M | 762M | 582.98M | 407.32M | 470.33M | 409.02M | 53M | 454.32M | 309.39M | 181.34M | 80M | 103.31M | 121.56M | 94.76M | 129.9M | 370.44M | 436.92M | 366.47M | 285.93M | 212.18M | 273.57M | 238.21M | 193.41M | 182.43M | 179.3M | 165.82M | 85.2M | 76M |
| Effective Tax Rate % | 21.66% | 21.55% | 23.57% | 23.23% | 22.02% | 21.3% | 29.99% | 24.19% | 22.75% | 2.95% | 26.6% | 29.43% | 23.26% | -37.21% | 16.41% | 16.03% | 17.79% | 18.31% | 22.48% | 24.47% | 23.6% | 21.32% | 21.41% | 25.36% | 26.68% | 27.16% | 27.99% | 32.17% | 24.43% | 23.73% | 22.93% |
| Net Income | 5.05B | 3.73B | 3.46B | 3.15B | 3.89B | 2.26B | 915.86M | 1.53B | 982.26M | 1.82B | 1.31B | 736.84M | 596.29M | -296M | 524.33M | 629.12M | 430.9M | 573.88M | 1.26B | 1.34B | 1.17B | 1.05B | 791.43M | 805.36M | 654.76M | 518.83M | 469.39M | 458.2M | 507.43M | 273.9M | 255.4M |
| Net Margin % | 9.04% | 9.96% | 10.07% | 9.93% | 12.78% | 8.78% | 4.07% | 6.18% | 4.09% | 7.5% | 5.01% | 3.06% | 3.08% | -1.64% | 2.97% | 3.26% | 2.52% | 3.41% | 5.97% | 6.81% | 6.46% | 6.91% | 6.79% | 5.95% | 5.93% | 5.7% | 5.73% | 6.88% | 6.07% | 5.97% | 6.11% |
| Net Income Growth % | 68.94% | 7.87% | 9.64% | -18.82% | 71.74% | 147.01% | -40.17% | 55.83% | -46.13% | 39.38% | 77.53% | 23.57% | 301.45% | -156.45% | -16.66% | 46% | -24.91% | -54.57% | -5.79% | 14.34% | 12.04% | 32.25% | -1.73% | 23% | 26.2% | 10.53% | 2.44% | -9.7% | 85.26% | 7.24% | 3.15% |
| Net Income (Continuing) | 5.11B | 3.79B | 3.52B | 3.07B | 2.7B | 2.51B | 1.01B | 1.45B | 1.39B | 1.75B | 1.25B | 741.93M | 598.34M | -295M | 526.28M | 636.58M | 437.89M | 579.69M | 1.28B | 1.35B | 1.19B | 1.06B | 778.91M | 805.36M | 654.76M | 518.83M | 469.39M | 378M | 512.91M | 273.9M | 255.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 1.19B | 157.87M | 156M | 80.23M | -403.85M | 100.22M | 83.27M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.47B | 1.47B | 1.2B | 696.97M | 820.54M | 600.62M | 564.86M | 607M | 602M | 583.06M | 576.33M | 578.36M | 25.54M | 33.14M | 47.61M | 53.87M | 110.39M | 104.59M | 97.45M | 96M | 55M | 45.33M | 46.33M | 113.9M | 116.48M | 120.42M | 33.62M | 37.3M | 473.57M | 15.4M | 16.4M |
| EPS (Diluted) | 7.56 | 5.51 | 5.02 | 4.33 | 4.75 | 3.26 | 1.42 | 1.87 | 1.17 | 2.17 | 1.57 | 0.90 | 0.81 | -0.41 | 0.73 | 0.88 | 0.61 | 0.85 | 2.10 | 2.19 | 2.26 | 1.84 | 1.44 | 1.52 | 1.24 | 0.10 | 0.11 | 1.16 | 1.30 | 0.72 | 0.70 |
| EPS Growth % | 80.08% | 9.76% | 15.94% | -8.84% | 45.71% | 129.58% | -24.06% | 59.83% | -46.08% | 38.22% | 74.44% | 11.11% | 297.56% | -156.16% | -17.05% | 44.26% | -28.24% | -59.52% | -4.11% | -3.1% | 22.83% | 27.78% | -5.26% | 22.58% | 1140% | -9.09% | -90.52% | -10.77% | 80.56% | 2.86% | 0% |
| EPS (Basic) | - | 5.54 | 5.06 | 4.36 | 4.78 | 3.29 | 1.43 | 1.89 | 1.18 | 2.18 | 1.58 | 0.91 | 0.81 | -0.41 | 0.73 | 0.88 | 0.61 | 0.86 | 2.24 | 2.21 | 2.28 | 1.86 | 1.44 | 1.54 | 1.25 | 0.11 | 0.11 | 1.17 | 1.31 | 0.72 | 0.70 |
| Diluted Shares Outstanding | 668.5M | 677M | 689.5M | 729.2M | 764.1M | 786.8M | 791.1M | 807.7M | 836.6M | 840.8M | 833.9M | 815.9M | 738.3M | 729.2M | 722.2M | 714.7M | 705.6M | 673.49M | 544.43M | 548.44M | 544.55M | 541.21M | 530.51M | 529.35M | 526.13M | 506.79M | 437.9M | 394.91M | 388.9M | 380.28M | 364.71M |
| Basic Shares Outstanding | 668.5M | 673.2M | 683.3M | 723.9M | 758.3M | 780.2M | 785.1M | 807.7M | 832.4M | 835.6M | 833.57M | 815.9M | 737.6M | 729.06M | 721.9M | 714.4M | 704.6M | 670.44M | 541.4M | 543.64M | 539.94M | 535.42M | 527.59M | 525.7M | 522.8M | 504.7M | 437.9M | 391.54M | 386.2M | 380.28M | 364.71M |
| Dividend Payout Ratio | - | 26.7% | 47.62% | 27% | 22.04% | 35.19% | 63.19% | 37.97% | 55.01% | 25.72% | 26.91% | 51.44% | 59.2% | - | 67.29% | 52.54% | 68.98% | 40.2% | 27.8% | 17.48% | 16.35% | 16.44% | 13.81% | 19.17% | 17.9% | 13.55% | 13.69% | - | 9.56% | - | 14.6% |
Cyclical Margin Volatility
According to reported financial statements, CRH's revenue growth has displayed significant quarterly variance, with a 9.1% year-over-year increase in 2026Q1 following a period of inconsistent performance, suggesting that the company's top-line trajectory remains heavily influenced by seasonal construction cycles and the timing of large-scale infrastructure project recognition.
The revenue fluctuations observed across the last ten quarters indicate that CRH's top-line is not purely organic but likely impacted by the timing of project completions and portfolio adjustments. Investors should monitor whether the recent growth acceleration can be sustained without relying on inorganic contributions from bolt-on acquisitions.
As evidenced by the income statement data, CRH's gross margins demonstrate a pronounced seasonal contraction, dropping to 27.7% in 2026Q1 from a peak of 39.4% in 2025Q2, which highlights the inherent difficulty in maintaining pricing power and operational efficiency during lower-volume winter construction periods.
The wide variance in gross margins suggests that the company's fixed-cost base exerts significant pressure on profitability during off-peak quarters. This cyclicality warrants further investigation into whether the company's integrated solutions model provides sufficient pricing power to offset these recurring seasonal margin troughs.
Based on the provided figures, CRH's operating income experienced a sharp decline to negative $38 million in 2026Q1, illustrating that the company's high fixed-cost structure prevents consistent operating leverage when revenue volumes contract, even if gross profit margins remain relatively resilient in absolute terms.
The inability to maintain positive operating income during lower-revenue quarters suggests that SG&A expenses are relatively rigid. This lack of operational flexibility may expose the company to significant earnings volatility if infrastructure demand experiences a sustained downturn.
As reported in recent filings, the significant swings between net income and net loss, such as the $180 million loss in 2026Q1 compared to the $2.6 billion profit in 2025Q4, suggest that headline earnings may be distorted by non-operating items or aggressive accounting adjustments.
The extreme variance in bottom-line performance raises questions regarding the quality of reported earnings and the impact of one-time charges or divestment gains. Analysts should be cautious about relying on quarterly EPS figures as a proxy for underlying operational health given these frequent and material bottom-line swings.
Quick answers to the most common questions about buying CRH stock.
For fiscal year 2025, CRH plc (CRH) reported total revenue of $37.45B. This represents a 796.4% increase compared to $4.18B in 1996.
CRH plc (CRH) is profitable, generating $3.73B in net income for the fiscal year ending 2025 with a net profit margin of 10.0%.
CRH plc (CRH) reported an operating income of $5.32B, resulting in an operating profit margin of 14.2%. This margin reflects the operational efficiency of the business before interest and taxes.
CRH plc (CRH) generated $13.53B in gross profit for the year, representing a gross profit margin of 36.1%. This demonstrates the company's core pricing power and production efficiency.