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Highlights

  • CRH’s FY25 total revenues rose 5% YoY to USD 37.4bn, with net income up 8% to USD 3.8bn.
  • Adjusted EBITDA increased 11% YoY to USD 7.7bn, with margin expansion continuing
  • Adjusted free cash flow advanced 18% YoY to USD 5.0bn
  • USD 4.1bn deployed on 38 acquisitions; USD 1.7bn invested in growth capex
  • FY26 guidance projects further earnings growth, with net income of USD 3.9bn–USD 4.1bn

CRH plc (LSE:CRH) shares declined 1.56% to GBX 9070 during morning trade on 19 February 2026, today’s price movement came despite the building materials group reported favourable fourth-quarter and full-year 2025 results. Despite today’s pullback, the stock remains up 7.41% over the past year.

The update outlined continued year-on-year growth in profitability and cash generation, alongside a constructive outlook for FY26.

Record FY25 Performance Backed by Margin Expansion

For the year ended 31 December 2025, CRH delivered total revenues of USD 37.4bn, representing a 5% increase compared to USD 35.6bn in FY24. Net income rose 8% YoY to USD 3.8bn, while adjusted EBITDA advanced 11% YoY to USD 7.7bn.

Profitability metrics also strengthened. Net income margin improved to 10.1% from 9.9% in FY24, and adjusted EBITDA margin expanded to 20.5% from 19.5%, marking another year of margin progression.

Diluted EPS increased 10% YoY to USD 5.51, supported by operating performance and ongoing share buybacks, while diluted EPS pre-impairment rose 3% YoY to USD 5.57.

Q4 Performance Shows Continued Operational Discipline

In Q4 2025, revenues reached USD 9.4bn, up 6% YoY, while net income rose 46% to USD 1.0bn. Adjusted EBITDA for the quarter increased 14% to USD 2.0bn, with margin expanding to 21.5%, up 150 basis points YoY.

Segmentally, Americas Materials Solutions recorded 9% revenue growth in Q4, with adjusted EBITDA also up 9%. Americas Building Solutions saw revenues decline 1% amid subdued residential demand and weather impacts, though EBITDA improved 2%. International Solutions posted 6% revenue growth and a 33% rise in adjusted EBITDA, driven by operational efficiencies and acquisition integration.

Capital Allocation: Acquisitions and Shareholder Returns

CRH continued to execute its growth strategy in 2025, completing 38 acquisitions for a total consideration of USD 4.1bn. The largest transaction was the USD 2.1bn acquisition of Eco Material Technologies within the Americas Materials Solutions segment.

In addition, the group invested USD 1.7bn in growth-focused capital expenditure projects aimed at driving organic expansion and operational improvements.

Cash generation remained favourable, with net cash provided by operating activities increasing 13% YoY to USD 5.6bn, while adjusted free cash flow rose 18% YoY to USD 5.0bn.

The company returned USD 2.2bn to shareholders during the year through dividends and share buybacks and declared a quarterly dividend of USD 0.39 per share, up 5% YoY. A new USD 0.3bn quarterly share buyback programme was also announced.

Balance Sheet and 2026 Outlook

As of 31 December 2025, total debt stood at USD 17.7bn compared to USD 14.0bn in FY24, reflecting acquisition activity and capital returns. Net debt increased to USD 14.2bn from USD 10.5bn a year earlier, partially offset by favourable operating cash inflows. The group ended the year with USD 4.1bn in cash and undrawn committed facilities of USD 4.3bn.

Looking ahead to FY26, management expects favourable demand conditions across key end-markets, supported by public infrastructure investment and reindustrialisation trends. Residential repair and remodel activity is expected to remain resilient, while new-build demand is anticipated to stay subdued.

CRH has guided FY26 net income in the range of USD 3.9bn to USD 4.1bn and adjusted EBITDA between USD 8.1bn and USD 8.5bn. Diluted EPS is projected at USD 5.60 to USD 6.05, with capital expenditure expected to range between USD 2.8bn and USD 3.0bn.

Investor Takeaway

Despite the 1.56% dip to GBX 9070, CRH’s FY25 performance reflects continued earnings growth, margin expansion and favourable cash generation. The group enters FY26 with guidance pointing to further profitability improvement, underpinned by infrastructure demand and disciplined capital allocation.

With shares up 7.41% over the past year, investor focus may now shift toward delivery against FY26 guidance and the balance between growth investments, debt levels and shareholder returns.

FAQs

  1. Why did CRH shares fall despite favourable results?

Although FY25 showed revenue and profit growth, shares declined 1.56% on the day, potentially reflecting market positioning or focus on forward guidance.

  1. How did CRH perform in FY25?

FY25 revenues rose 5% to USD 37.4bn, net income increased 8% to USD 3.8bn and adjusted EBITDA grew 11% to USD 7.7bn.

  1. What is CRH’s guidance for FY26?

The company expects FY26 net income of USD 3.9bn to USD 4.1bn and adjusted EBITDA of USD 8.1bn to USD 8.5bn.