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Construction Partners, Inc (ROAD) Fair Value & Analysis

Industrials · US · Market cap $5.4B

CP Construction Partners, Inc logo Construction Partners, Inc ROAD · US
Price$119.74
Fair Value$44.54
Upside-62.8%
Quality42/100
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Healthy Growth
Thin margins · 3.9% net margin
High debt · generates free cash flow
Trails peers (5/14)
Narrow moat 43/100
Evidence: High Range $20.78 – $55.67 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 28 days ago

Share price +17.5% over the past month.

Below-average quality, and screening another 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($55.67). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide ($20.78 to $55.67). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

$140.48 $19.16 Fair Value $44.54 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range $19.16 – $140.48 · fair‑value band $20.78 – $55.67 · the $119.74 price screens above the $44.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Construction Partners, Inc (ROAD) currently trades at $119.74, while our model-based Fair Value estimate is $44.54, implying the stock looks roughly 62.8% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Construction Partners, Inc generated revenue of $3.3B at a net margin of 3.9%. Revenue grew 34.6% year over year. It earns a return on equity of 14.2%. Net debt stands at $1.5B. Fundamentals as of Jul 12, 2026

Our scenario range runs from $20.78 (bear case) to $55.67 (bull case); at $119.74, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -63%, ROAD screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $18.20 $56.28 $130.81 80
Residual Income $16.91 $19.22 $36.73 76
Rev-Margin DCF $20.23 $73.17 $161.89 74
All 26 models by family
DCF Models
FCF DCF $21.30 $48.73 $134.26 38
Owner Earnings $5.15 $47.34 $132.66 31
5Y Revenue Exit $20.23 $60.30 $142.81 39
5Y EBITDA Exit $42.10 $105.27 $227.17 41
5Y P/E Exit $9.10 $50.99 $106.59 38
10Y Revenue Exit $18.87 $79.34 $126.50 36
10Y EBITDA Exit $36.27 $123.94 $289.18 37
10Y P/E Exit $12.93 $56.66 $131.21 35
Earnings-Based
Graham-Dodd $14.42 $100.57 $141.14 54
Lynch FV $35.33 $50.48 $65.62 50
PEG = 1.0 $35.33 $50.48 $65.62 46
EPV $9.69 $15.88 $21.22 59
Dividend Discount
Gordon GGM $2.48 $4.95 $7.49 70
DDM Multi-Stage $2.48 $4.28 $5.22 61
Multiples
P/E Multiple $33.40 $44.54 $55.67 63
P/S Multiple $27.04 $36.05 $45.07 58
P/B Multiple $27.04 $36.05 $45.07 55
EV/EBIT $34.18 $55.41 $76.65 53
EV/EBITDA $49.31 $75.59 $101.88 54
EV/Revenue $15.94 $35.42 $54.91 43
Asset-Based
NCAV (Graham) $9.50 $12.73 $19.00 50
Growth DCF
Growth DCF $18.20 $56.28 $130.81 80
Rev-Margin DCF $20.23 $73.17 $161.89 74
Economic Profit
Residual Income $16.91 $19.22 $36.73 76
ROIC Compounder $9.69 $15.88 $24.62 72
Growth Earnings
Growth-Adj P/E $45.97 $65.67 $85.37 68

Widest divergence: Growth Earnings ($65.67) versus Dividend Discount ($4.28). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $3.3B
Revenue growth (YoY) +34.6%
Net margin 3.9%
Return on equity 14.2%
Free cash flow $153M FY2025
P/E ratio 49.3
More key figures
Operating margin 4.8%
EPS (TTM) $2.29
EPS growth (YoY) +110%
Net debt $1.5B FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 46

Profitability 39
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 44
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Construction Partners, Inc., a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas.

Full company description

Construction Partners, Inc., a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments. It also engages in manufacturing and distributing hot mix asphalt (HMA) for internal use and sales to third parties in connection with construction projects; and paving activities, including the construction of roadway base layers and application of asphalt pavement. In addition, the company is involved in site development, including the installation of utility and drainage systems; mining aggregates, such as sand, gravel, and construction stones that are used as raw materials in the production of HMA; and distributing liquid asphalt cement for internal use and sales to third parties in connection with HMA production. The company was formerly known as SunTx CPI Growth Company, Inc. and changed its name to Construction Partners, Inc. in September 2017. Construction Partners, Inc. was incorporated in 2007 and is headquartered in Dothan, Alabama.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Construction Partners, Inc reported revenue of $2.8B in FY2025 versus $911M in FY2021, a compound +32.6%/yr. Reported net income was $102M in FY2025, compounding +49.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$2.8B
Latest YoY
+54.2%
Avg. growth/yr (3Y)
+29.3%
Avg. growth/yr (5Y)
+29.1%
Avg. growth/yr (9Y)
+20.1%
Revenue +32.6%/yr
FY21 $911M
FY22 $1.3B
FY23 $1.6B
FY24 $1.8B
FY25 $2.8B
Net income +49.9%/yr
FY21 $20.2M
FY22 $21.4M
FY23 $49.0M
FY24 $68.9M
FY25 $102M

ROAD screens 63% overvalued. Compare with Larsen & Toubro Limited →

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Construction Partners, Inc · Fair Value
$44.54 −63%Fair Value
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Cite: Fair Value Calculator (2026). "Construction Partners, Inc Fair Value". https://www.fairvalue-calculator.com/stock/ROAD

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Engineering & Construction · 837 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 42 · Below median
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 14% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 35% · Top 25%
Debt / equity 1.73× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 41.4× · Pricier than 75% of peers
P/B 5.88× · Pricier than 75% of peers
P/S (TTM) 1.65× · Pricier than 75% of peers
P/FCF 35.0× · Pricier than 75% of peers
EV/EBITDA 14.2× · Pricier than median
PEG 1.57× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 16
FUTURE 100 · sector 18
PAST 57 · sector 26
HEALTH 14 · sector 94
DIVIDEND 0 · sector 33

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Construction Partners, Inc (ROAD) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of $44.54 versus a price of $119.74, about −63% (overvalued).
What is the fair value of ROAD?
Our model-based fair value for Construction Partners, Inc is $44.54 (as of Jul 12, 2026), built from audited fundamentals. The current price is $119.74.
What is the quality score of ROAD?
Construction Partners, Inc has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Construction Partners, Inc (ROAD)?
Construction Partners, Inc reported trailing-twelve-month revenue of about $3.3B (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ROAD?
The net profit margin of Construction Partners, Inc is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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