North American Construction (NOA) Operating Margin (2009 - 2026)
North American Construction's (NOA) quarterly Operating Margin came in at 5.12% in Q2 2026, down 199.0% on a YoY basis from 5.17% in Q2 2025, and down 66.08% quarter-over-quarter from 15.1% in Q1 2026.
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North American Construction (NOA) Operating Margin (2009 - 2026) Analysis & Trends
North American Construction (NOA) has reported Operating Margin for 18 consecutive years, with 5.12% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 199.0% year-over-year to 5.12%; the trailing twelve-month figure through Jun 2026 stood at 9.44% (down 374.0% YoY), and the FY2025 full-year result was 12.52%, down 1178.0% from the prior year.
- Operating Margin retreated to 5.12% in Q2 2026 per NOA's latest filing, from 15.1% in the prior quarter.
- Across five years, Operating Margin topped out at 20.95% in Q3 2022 and bottomed at 5.12% in Q2 2026.
- Historically, Operating Margin has averaged 12.71% across 5 years, with a median of 13.24% in 2022.
- The widest YoY moves for Operating Margin: up 882 bps in 2022, down 1272 bps in 2022.
- Over 5 years, Operating Margin stood at 13.52% in 2022, then climbed by 3 bps to 14.0% in 2023, then grew by 22 bps to 17.01% in 2024, then tumbled by 58 bps to 7.22% in 2025, then dropped by 29 bps to 5.12% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 5.12%, 15.1%, and 7.22% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ferrovial | 39.87 Bn | 34.47 Bn | - | - |
| 2 | Emcor | 33.30 Bn | 32.37 Bn | 1.02 Bn | 10.62% |
| 3 | Jacobs Solutions | 16.54 Bn | 15.37 Bn | 810.70 Mn | 7.03% |
| 4 | Sterling Infrastructure | 14.87 Bn | 14.40 Bn | 289.96 Mn | 18.77% |
| 5 | Aecom | 8.09 Bn | 7.08 Bn | -34.04 Mn | -2.12% |
| 6 | Stantec | 7.99 Bn | 7.99 Bn | 1.36 Bn | 12.86% |
| 7 | Fluor | 7.45 Bn | 4.40 Bn | 179.00 Mn | 3.12% |
| 8 | Argan | 5.58 Bn | 5.03 Bn | 74.22 Mn | 14.79% |
| 9 | Installed Building Products | 5.37 Bn | 4.98 Bn | 258.90 Mn | 12.16% |
| 10 | North American Construction | 386.88 Mn | 265.66 Mn | 31.38 Mn | 5.12% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.12% |
| Mar 31, 2026 | 15.10% |
| Dec 31, 2025 | 7.22% |
| Sep 30, 2025 | 11.27% |
| Jun 30, 2025 | 7.11% |
| Mar 31, 2025 | 8.97% |
| Dec 31, 2024 | 17.01% |
| Sep 30, 2024 | 19.04% |
| Jun 30, 2024 | 14.26% |
| Mar 31, 2024 | 12.96% |
| Dec 31, 2023 | 14.00% |
| Sep 30, 2023 | 17.25% |
| Jun 30, 2023 | 15.88% |
| Mar 31, 2023 | 10.52% |
| Dec 31, 2022 | 13.52% |
| Sep 30, 2022 | 20.95% |
| Jun 30, 2022 | 9.68% |
| Mar 31, 2022 | 8.85% |
| Dec 31, 2021 | 17.51% |
| Sep 30, 2021 | 18.25% |