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Building products & equipment · Industrials · Fiscal year ends Dec 31
Arcosa reported revenue of $2.9B in the fiscal year ended Dec 2025, up 12.2% from the year before. Operating income was $342M, an operating margin of 11.9%, and net income was $208M. Operating cash flow of $341M less capital expenditure of $166M left free cash flow of $176M. Net debt was $1.3B.
Ranks among the 14 building products & equipment companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,036 | 2,243 | 2,308 | 2,570 | 2,883 |
| Cost of revenue | 1,681 | 1,832 | 1,864 | 2,055 | 2,236 |
| Gross profit | 356 | 411 | 444 | 515 | 647 |
| Selling, general & admin | 256 | 263 | 261 | 320 | 307 |
| Operating income | 107 | 349 | 217 | 198 | 342 |
| Interest expense | 23.4 | 31.0 | 28.1 | 70.9 | 109 |
| Pre-tax income | 83.6 | 316 | 196 | 130 | 241 |
| Income tax | 14.0 | 70.4 | 36.7 | 36.3 | 32.9 |
| Net income | 69.6 | 246 | 159 | 93.7 | 208 |
| Diluted EPS | 1.42 | 5.05 | 3.26 | 1.91 | 4.24 |
| Diluted shares | 48.6 | 48.5 | 48.7 | 48.8 | 49.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 72.9 | 160 | 105 | 187 | 215 |
| Receivables | 311 | 334 | 357 | 350 | 413 |
| Inventory | 325 | 316 | 402 | 360 | 336 |
| Current assets | 768 | 857 | 912 | 954 | 1,107 |
| Net PP&E | 1,202 | 1,200 | 1,336 | 2,129 | 2,045 |
| Goodwill | 935 | 959 | 991 | 1,361 | 1,329 |
| Total assets | 3,188 | 3,341 | 3,578 | 4,916 | 4,985 |
| Payables | 185 | 191 | 273 | 237 | 213 |
| Current liabilities | 364 | 368 | 431 | 516 | 504 |
| Long-term debt | 665 | 536 | 562 | 1,677 | 1,514 |
| Total liabilities | 1,235 | 1,156 | 1,246 | 2,487 | 2,344 |
| Shareholders' equity | 1,953 | 2,184 | 2,332 | 2,428 | 2,641 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 167 | 174 | 261 | 502 | 341 |
| Capital expenditure | 85.1 | 138 | 204 | 190 | 166 |
| Free cash flow | 81.4 | 36.3 | 57.5 | 312 | 176 |
| Depreciation & amortisation | 144 | 154 | 160 | 195 | 223 |
| Stock-based compensation | 18.0 | 19.1 | 23.9 | 24.3 | 26.4 |
| Acquisitions | 523 | 75.1 | 121 | 1,424 | −17.6 |
| Share buybacks | 9.4 | 15.0 | 13.8 | 0.0 | 0.0 |
| Dividends paid | 9.8 | 9.8 | 9.8 | 9.7 | 10.0 |
| Dividend per share | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.1% | 2.9% | 11.4% | 12.2% |
| Operating income growth (YoY) | – | 225.3% | −37.7% | −9.1% | 73.0% |
| EPS growth (YoY) | – | 255.6% | −35.4% | −41.4% | 122.0% |
| Gross margin | 17.5% | 18.3% | 19.2% | 20.0% | 22.4% |
| Operating margin | 5.3% | 15.6% | 9.4% | 7.7% | 11.9% |
| Net margin | 3.4% | 11.0% | 6.9% | 3.6% | 7.2% |
| Return on equityBlank when equity is negative | 3.6% | 11.3% | 6.8% | 3.9% | 7.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 3.8% | 11.7% | 6.9% | 4.5% | 7.6% |
| Free cash flow margin | 4.0% | 1.6% | 2.5% | 12.2% | 6.1% |
| Cash conversion (CFO ÷ net income) | 2.39x | 0.71x | 1.64x | 5.36x | 1.64x |
| Receivable days | 56 | 54 | 56 | 50 | 52 |
| Inventory days | 70 | 63 | 79 | 64 | 55 |
| Payable days | 40 | 38 | 53 | 42 | 35 |
| Interest cover | 4.59x | 11.3x | 7.73x | 2.79x | 3.14x |
| Debt ÷ equity | 0.34x | 0.25x | 0.24x | 0.69x | 0.57x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 592 | 376 | 457 | 1,490 | 1,300 |
| Current ratio | 2.11x | 2.33x | 2.12x | 1.85x | 2.20x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.