North American Construction (NOA) FCF Margin (2009 - 2026)
North American Construction's (NOA) quarterly FCF Margin came in at 23.22% in Q2 2026, down 7.0% on a YoY basis from 24.97% in Q2 2025, and up 52.27% quarter-over-quarter from 15.25% in Q1 2026.
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North American Construction (NOA) FCF Margin (2009 - 2026) Analysis & Trends
North American Construction (NOA) has reported FCF Margin for 18 consecutive years, with 23.22% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, FCF Margin fell 7.0% year-over-year to 23.22%; the trailing twelve-month figure through Jun 2026 stood at 19.0% (down 493.0% YoY), and the FY2025 full-year result was 42.45%, down 430.0% from the prior year.
- FCF Margin grew to 23.22% in Q2 2026 per NOA's latest filing, from 15.25% in the prior quarter.
- Across five years, FCF Margin topped out at 47.34% in Q2 2023 and bottomed at 8.81% in Q4 2022.
- Historically, FCF Margin has averaged 25.08% across 5 years, with a median of 22.83% in 2024.
- The sharpest annual moves came in 2022 and 2024: FCF Margin soared 2481 bps in 2022, then tumbled 2395 bps in 2024.
- Over 5 years, FCF Margin stood at 8.81% in 2022, then jumped by 125 bps to 19.82% in 2023, then grew by 18 bps to 23.42% in 2024, then sank by 34 bps to 15.46% in 2025, then soared by 50 bps to 23.22% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 23.22%, 15.25%, and 15.46% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ferrovial | 39.87 Bn | 34.47 Bn | - | - |
| 2 | Emcor | 33.30 Bn | 32.37 Bn | 1.02 Bn | 5.01% |
| 3 | Jacobs Solutions | 16.54 Bn | 15.37 Bn | 810.70 Mn | 10.57% |
| 4 | Sterling Infrastructure | 14.87 Bn | 14.40 Bn | 289.96 Mn | 9.62% |
| 5 | Aecom | 8.09 Bn | 7.08 Bn | -34.04 Mn | 1.53% |
| 6 | Stantec | 7.99 Bn | 7.99 Bn | 1.36 Bn | 3.73% |
| 7 | Fluor | 7.45 Bn | 4.40 Bn | 179.00 Mn | -7.48% |
| 8 | Argan | 5.58 Bn | 5.03 Bn | 74.22 Mn | 23.89% |
| 9 | Installed Building Products | 5.37 Bn | 4.98 Bn | 258.90 Mn | 6.67% |
| 10 | North American Construction | 386.88 Mn | 265.66 Mn | 31.38 Mn | 23.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.22% |
| Mar 31, 2026 | 15.25% |
| Dec 31, 2025 | 15.46% |
| Sep 30, 2025 | 20.84% |
| Jun 30, 2025 | 23.29% |
| Mar 31, 2025 | 27.31% |
| Dec 31, 2024 | 23.42% |
| Sep 30, 2024 | 21.55% |
| Jun 30, 2024 | 27.25% |
| Mar 31, 2024 | 22.44% |
| Dec 31, 2023 | 19.82% |
| Sep 30, 2023 | 45.50% |
| Jun 30, 2023 | 47.34% |
| Mar 31, 2023 | 14.94% |
| Dec 31, 2022 | 8.81% |
| Sep 30, 2022 | 37.72% |
| Jun 30, 2022 | 43.07% |
| Mar 31, 2022 | 14.30% |
| Dec 31, 2021 | 14.33% |
| Sep 30, 2021 | 41.62% |