North American Construction (NOA) Operating Margin (2009 - 2026)
North American Construction (NOA) reported Operating Margin of 5.12% for the quarter ended Jun 30, 2026, down 1.99 percentage points from 7.11% a year earlier and down 1.73 percentage points from the prior quarter.
North American Construction (NOA) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, North American Construction's Operating Margin came in at 7.26%, down 2.75 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 8.50%, down 4.65 percentage points from the prior year.
- Operating Margin has a five-year change of -4.96 percentage points (years ended Dec 2020 to Dec 2025).
- By year, Operating Margin came in at 13.15% in the year ended Dec 31, 2024 (+3.16 pp), 9.99% in the year ended Dec 31, 2023 (+0.74 pp), 9.25% in the year ended Dec 31, 2022 (+0.82 pp) and 8.43% in the year ended Dec 31, 2021 (-5.04 pp).
- The figure for the quarter ended Jun 30, 2026 ranks as the lowest quarterly Operating Margin since the quarter ended Jun 30, 2022.
- Year over year, Operating Margin has now declined in each of the last seven quarters, with an average year-over-year change of -2.34 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was the quarter ended Sep 30, 2024 (a gain of 11.76 percentage points); the low point was the quarter ended Sep 30, 2025 (a drop of 7.77 percentage points).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at 6.86% (quarter ended Mar 31, 2026), 6.57% (quarter ended Dec 31, 2025) and 11.27% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 96.54 Bn | 94.73 Bn | 1.55 Bn | 7.27% |
| 2 | Ferrovial | 38.99 Bn | 19.58 Bn | - | - |
| 3 | Emcor | 33.36 Bn | 29.75 Bn | 1.02 Bn | 10.62% |
| 4 | Mastec | 17.15 Bn | 16.06 Bn | 556.28 Mn | 5.17% |
| 5 | Jacobs Solutions | 15.84 Bn | 10.49 Bn | 810.70 Mn | 7.03% |
| 6 | Sterling Infrastructure | 15.09 Bn | 13.45 Bn | 289.96 Mn | 18.77% |
| 7 | IES Holdings | 12.79 Bn | 11.66 Bn | 340.66 Mn | 14.37% |
| 8 | Dycom Industries | 8.06 Bn | 7.19 Bn | - | - |
| 9 | Stantec | 7.69 Bn | 7.69 Bn | - | - |
| 10 | North American Construction | 346.15 Mn | -9.05 Mn | 31.38 Mn | 5.12% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.12% |
| Mar 31, 2026 | 6.86% |
| Dec 31, 2025 | 6.57% |
| Sep 30, 2025 | 11.27% |
| Jun 30, 2025 | 7.11% |
| Mar 31, 2025 | 8.97% |
| Dec 31, 2024 | 6.80% |
| Sep 30, 2024 | 19.04% |
| Jun 30, 2024 | 14.26% |
| Mar 31, 2024 | 12.96% |
| Dec 31, 2023 | 14.00% |
| Sep 30, 2023 | 7.29% |
| Jun 30, 2023 | 5.29% |
| Mar 31, 2023 | 10.52% |
| Dec 31, 2022 | 13.52% |
| Sep 30, 2022 | 9.22% |
| Jun 30, 2022 | 3.75% |
| Mar 31, 2022 | 8.85% |
| Dec 31, 2021 | 9.65% |
| Sep 30, 2021 | 8.66% |
North American Construction Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=NOA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "NOA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=NOA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();