Everus Construction Group, Inc.
ECGdata completeness 100%4 fiscal years on fileData notes: no data for concept 'interestExpense'
Everus Construction Group, Inc. earns about 23% on invested capital, far above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $22.07 and $28.44 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | $2.7B1 | $2.85B2 | $2.85B2 | $3.75B2 |
| Net income | $124.8M3 | $137.2M4 | $143.4M4 | $201.8M4 |
| Operating cash flow | −$25.5M5 | $171.3M6 | $163.4M6 | $156.8M6 |
| Capital expenditure | $35.8M7 | $35.6M8 | $48.3M8 | $66.8M8 |
| Free cash flow (derived) | −$61.3M5 | $135.7M6 | $115.1M6 | $90M6 |
| Total debt | — | $09 | $591.3M10 | $563.1M10 |
| Cash & equivalents | $2.11M11 | $1.57M11 | $86M11 | $170.5M11 |
| Diluted shares | 51.0M | 51.0M | 51.1M | 51.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $123.2 of net worth that earned you $39.47 and generated $17.61 of cash last year, against $110.15 of debt.
It earned about 23% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is roughly flat over 4 years — little dilution, little buyback.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $22.07 and $28.44 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth0.0%
- fcfBase$115.1M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$115.1M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$140.3M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $24.49 |
| Base | 0.0% | $24.49 |
| Bull | 5.0% | $32.27 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 0.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2022-12-31 · accession 0002015845-25-000012 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0002015845-26-000010 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0002015845-25-000012 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0002015845-26-000010 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0002015845-25-000012 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0002015845-26-000010 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0002015845-25-000012 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2023-12-31 · accession 0002015845-26-000010 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2023-12-31 · accession 0002015845-25-000012 (LongTermDebtCurrent)
- 10-K · period ending 2024-12-31 · accession 0002015845-26-000010 (LongTermDebtNoncurrent)
- 10-K · period ending 2022-12-31 · accession 0002015845-26-000010 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)