CRH Reports Q4 and FY 2025 Results

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Summary Financials	Q4 2025	YoY Change	FY 2025	YoY Change
Total revenues	$9.4bn	+6%	$37.4bn	+5%
Net income	$1.0bn	+46%	$3.8bn	+8%
Net income margin	11.0%	+300bps	10.1%	+20bps
Adjusted EBITDA*	$2.0bn	+14%	$7.7bn	+11%
Adjusted EBITDA margin*	21.5%	+150bps	20.5%	+100bps
Diluted Earnings Per Share	$1.52	+49%	$5.51	+10%
Diluted Earnings Per Share pre-impairment*	$1.52	+6%	$5.57	+3%
Net cash provided by operating activities			$5.6bn	+13%
Adjusted Free Cash Flow*			$5.0bn	+18%

2026 Guidance (i)
*(in $ billions, except per share data)*	Low	High
Net income (ii)	3.9	4.1
Adjusted EBITDA*	8.1	8.5
Diluted EPS (ii)	$5.60	$6.05
Capital expenditure	2.8	3.0

(i) The 2026 guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events.
(ii) 2026 Net income and diluted EPS are based on approximately $0.7 billion interest expense, net, an effective tax rate of approximately 24% and a year-to-date average of approximately 675 million diluted common shares outstanding.

Three months ended December 31, 2025
Americas Materials Solutions
		Analysis of Change
*in $ millions*	Q4 2024	Currency	Acquisitions	Divestitures	Organic	Q4 2025	% change
Total revenues	4,266	+1	+349	–	+24	4,640	+9%
Adjusted EBITDA	1,053	–	+63	–	+31	1,147	+9%
Adjusted EBITDA margin	24.7%					24.7%

Americas Building Solutions
		Analysis of Change
*in $ millions*	Q4 2024	Currency	Acquisitions	Divestitures	Organic	Q4 2025	% change
Total revenues	1,493	+1	+22	(7)	(25)	1,484	(1%)
Adjusted EBITDA	250	–	+5	(2)	+1	254	+2%
Adjusted EBITDA margin	16.7%					17.1%

International Solutions
		Analysis of Change
*in $ millions*	Q4 2024	Currency	Acquisitions	Divestitures	Organic	Q4 2025	% change
Total revenues	3,111	+186	+120	(160)	+35	3,292	+6%
Adjusted EBITDA	473	+28	+16	+19	+91	627	+33%
Adjusted EBITDA margin	15.2%					19.0%

Summary by AI ^BETAClose X

Companies

UK 100

Latest directors dealings

Year ended December 31, 2025
Americas Materials Solutions
		Analysis of Change
*in $ millions*	2024	Currency	Acquisitions	Divestitures	Organic	2025	% change
Total revenues	16,173	(16)	+961	(16)	(73)	17,029	+5%
Adjusted EBITDA	3,745	(2)	+180	+6	+73	4,002	+7%
Adjusted EBITDA margin	23.2%					23.5%

Consolidated Statements of Income
(in $ millions, except share and per share data)
	Three months ended		Year ended
	December 31		December 31
	2025	2024	2025	2024
Product revenues	7,136	6,541	28,754	26,699
Service revenues	2,280	2,329	8,693	8,873
Total revenues	9,416	8,870	37,447	35,572
Cost of product revenues	(3,998)	(3,641)	(15,990)	(14,651)
Cost of service revenues	(2,062)	(2,069)	(7,929)	(8,220)
Total cost of revenues	(6,060)	(5,710)	(23,919)	(22,871)
Gross profit	3,356	3,160	13,528	12,701
Selling, general and administrative expenses	(2,032)	(1,933)	(8,283)	(7,852)
Gain on disposal of long-lived assets	82	38	235	237
Loss on impairments	–	(161)	(40)	(161)
Operating income	1,406	1,104	5,440	4,925
Interest income	42	31	146	143
Interest expense	(220)	(160)	(810)	(612)
Other nonoperating income, net	46	12	29	258
Income before income tax expense and income from equity method investments	1,274	987	4,805	4,714
Income tax expense	(246)	(143)	(1,041)	(1,085)
Income (loss) from equity method investments	9	(135)	26	(108)
Net income	1,037	709	3,790	3,521

Net (income) attributable to redeemable noncontrolling interests	(10)	(7)	(28)	(28)
Net (income) loss attributable to noncontrolling interests	(2)	1	(9)	(1)
Net income attributable to CRH	1,025	703	3,753	3,492

Earnings per share attributable to CRH
Basic	$1.53	$1.03	$5.54	$5.06
Diluted	$1.52	$1.02	$5.51	$5.02

Weighted average common shares outstanding
Basic	669.5	678.4	673.2	683.3
Diluted	673.1	683.7	677.0	689.5

Consolidated Balance Sheets
(in $ millions, except share data)
	December 31	December 31
	2025	2024
Assets
Current assets:
Cash and cash equivalents	4,096	3,720
Restricted cash	51	39
Accounts receivable, net	5,178	4,820
Inventories	5,251	4,755
Other current assets	678	749
Total current assets	15,254	14,083
Property, plant and equipment, net	24,937	21,452
Equity method investments	502	737
Goodwill	13,099	11,061
Intangible assets, net	2,048	1,211
Operating lease right-of-use assets, net	1,471	1,274
Other noncurrent assets	1,018	795
Total assets	58,329	50,613

Liabilities, redeemable noncontrolling interests and shareholders’ equity
Current liabilities:
Accounts payable	3,263	3,207
Accrued expenses	2,196	2,248
Current portion of long-term debt	1,175	2,999
Operating lease liabilities	286	265
Other current liabilities	1,834	1,577
Total current liabilities	8,754	10,296
Long-term debt	16,478	10,969
Deferred income tax liabilities	3,511	3,105
Noncurrent operating lease liabilities	1,232	1,074
Other noncurrent liabilities	2,876	2,319
Total liabilities	32,851	27,763
Commitments and contingencies
Redeemable noncontrolling interests	430	384
Shareholders’ equity
Preferred stock, €1.27 par value, 150,000 shares authorized and 50,000 shares issued and outstanding for 5% preferred stock, and 872,000 shares authorized, issued and outstanding for 7% ‘A’ preferred stock, as of December 31, 2025, and December 31, 2024	1	1
Common stock, €0.32 par value, 1,250,000,000 shares authorized; 706,946,142 and 718,647,277 shares issued and outstanding, as of December 31, 2025, and December 31, 2024, respectively	286	290
Treasury stock, at cost (38,315,792 and 41,355,384 shares as of December 31, 2025, and December 31, 2024, respectively)	(2,016)	(2,137)
Additional paid-in capital	397	422
Accumulated other comprehensive loss	(257)	(1,005)
Retained earnings	25,593	24,036
Total shareholders’ equity attributable to CRH shareholders	24,004	21,607
Noncontrolling interests	1,044	859
Total equity	25,048	22,466
Total liabilities, redeemable noncontrolling interests and equity	58,329	50,613

Consolidated Statements of Cash Flows
(in $ millions)

*For the years ended December 31*	2025	2024
Cash Flows from Operating Activities:
Net income	3,790	3,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	2,156	1,798
Loss on impairments	40	161
Share-based compensation	143	125
Gains on disposals from businesses and long-lived assets, net	(247)	(431)
Deferred tax expense	167	180
(Income) loss from equity method investments	(26)	108
Pension and other postretirement benefits net periodic benefit cost	21	34
Non-cash operating lease costs	292	262
Other items, net	3	14
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable, net	121	(122)
Inventories	(161)	(224)
Accounts payable	(158)	48
Operating lease liabilities	(310)	(287)
Other assets	(210)	(69)
Other liabilities	45	(86)
Pension and other postretirement benefits contributions	(41)	(43)
Net cash provided by operating activities	5,625	4,989

Cash Flows from Investing Activities:
Purchases of property, plant and equipment, and intangibles	(2,713)	(2,578)
Acquisitions, net of cash acquired	(3,856)	(4,900)
Proceeds from divestitures	139	1,001
Proceeds from disposal of long-lived assets	315	272
Dividends received from equity method investments	50	44
Settlements of derivatives	(81)	(9)
Deferred divestiture consideration received	42	83
Other investing activities, net	59	(204)
Net cash used in investing activities	(6,045)	(6,291)

*in $ billions*	2026 Mid-Point
Net income	4.0
Income tax expense	1.3
Interest expense, net	0.7
Depreciation, depletion and amortization	2.3
Adjusted EBITDA	8.3

CRH Reports Q4 and FY 2025 Results

Summary by AI BETAClose X

Companies

UK 100

Latest directors dealings

Summary by AI ^BETAClose X