Concrete Pumping Holdings, Inc. (NASDAQ: BBCP)

Sector: Industrials Industry: Engineering & Construction CIK: 0001703956
Market Cap 320.01 Mn
P/B 1.21
P/E 69.22
P/S 0.81
ROIC (Qtr) 3.60
Div Yield % 16.05
Rev 1y % (Qtr) -2.42
Total Debt (Qtr) 441.40 Mn
Debt/Equity (Qtr) 1.67

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 44.39M provide 9.15x coverage of short-term debt 4.85M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 64.31M provides strong 31.40x coverage of stock compensation 2.05M, indicating sustainable incentive practices.
  • Tangible assets of 562.03M provide robust 13.65x coverage of other current liabilities 41.17M, indicating strong asset backing.
  • Robust tangible asset base of 562.03M provides 9.20x coverage of working capital 61.07M, indicating strong operational backing.
  • Operating cash flow of 64.31M provides solid 1.23x coverage of current liabilities 52.28M, showing strong operational health.

Bear case

  • Operating cash flow of 64.31M barely covers its investment activities of (37.30M), with a coverage ratio of -1.72, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of 64.31M provides thin coverage of dividend payments of (53.13M) with a -1.21 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
  • High receivables of 53.13M relative to inventory of 7.42M (7.16 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Operating earnings of 41.62M show weak coverage of depreciation charges of 58.81M, with a 0.71 ratio indicating high capital intensity and potential reinvestment needs.
  • High depreciation of 58.81M relative to operating cash flow of 64.31M, which is 0.91x suggests significant maintenance capital requirements affecting free cash flow.

Segments Breakdown of Revenue (2025)

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Engineering & Construction
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 PWR Quanta Services, Inc. 67.29 Bn 138.47 5.18 6.02 Bn
2 FER Ferrovial SE 52.08 Bn 189.56 5.95 -
3 EME EMCOR Group, Inc. 48.16 Bn 357.05 7.52 0.42 Bn
4 FIX Comfort Systems Usa Inc 45.71 Bn 4,991.17 39.02 0.39 Bn
5 MTZ Mastec Inc 19.03 Bn 57.48 1.38 2.77 Bn
6 APG APi Group Corp 17.83 Bn 114.31 2.33 3.05 Bn
7 J Jacobs Solutions Inc. 17.05 Bn 39.38 1.38 2.96 Bn
8 BLD TopBuild Corp 14.16 Bn 24.94 2.70 3.09 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.82 1.73
EV to Cash from Ops. EV/CFO 11.22 61.77
EV to Debt EV to Debt 1.63 13.28
EV to EBIT EV/EBIT 17.33 74.48
EV to EBITDA EV/EBITDA 7.19 39.60
EV to Free Cash Flow [EV/FCF] EV/FCF 26.70 143.23
EV to Market Cap EV to Market Cap 2.25 1.16
EV to Revenue EV/Rev 1.84 2.68
Price to Book Value [P/B] P/B 1.21 9.64
Price to Earnings [P/E] P/E 69.22 142.37
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.08 2.57
Dividend Payout Ratio % Div Payout % (Qtr) 1,111.10 35.52
Dividend per Basic Share Div per Share (Qtr) 1.00 0.24
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 193.05 5.38
Interest Coverage Int. cover (Qtr) 1.32 80.51
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -16.07 -168.92
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 3.14 655.79
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 6.41
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -21.13 -38.03
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -10.06 14.77
EBIT Growth (1y) % EBIT 1y % (Qtr) -17.07 75.79
EBT Growth (1y) % EBT 1y % (Qtr) -58.65 29.61
EPS Growth (1y) % EPS 1y % (Qtr) -66.67 56.98
FCF Growth (1y) % FCF 1y % (Qtr) -50.67 -16.53
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -8.88 31.33
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.45 1.14
Cash Payout Ratio Cash Payout (Qtr) 0.53 0.05
Cash Ratio Cash Ratio (Qtr) 0.85 0.39
Current Ratio Curr Ratio (Qtr) 2.17 1.55
Debt to Equity Ratio Debt/Equity (Qtr) 1.67 0.90
Interest Cover Ratio Int Coverage (Qtr) 1.32 80.51
Times Interest Earned Times Interest Earned (Qtr) 1.32 80.51
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 25.60 0.96
EBIT Margin % EBIT Margin % (Qtr) 10.59 -3.15
EBT Margin % EBT Margin % (Qtr) 2.56 -5.46
Gross Margin % Gross Margin % (Qtr) 38.50 20.28
Net Profit Margin % Net Margin % (Qtr) 1.20 -6.83