CRH Posts $5B Free Cash Flow (+18%), Guides $8.1–$8.5B EBITDA for 2026
CRH delivered $5.0B of adjusted free cash flow in 2025, an 18% year-over-year rise with 130% net income conversion, and posted adjusted EBITDA of $7.7B, up 11%. It reported $37.4B revenue (+5%) and forecast 2026 EBITDA of $8.1–$8.5B, net income of $3.9–$4.1B and EPS of $5.60–$6.05.
1. Q4 and Full-Year Financial Performance
CRH generated $5.0 billion of adjusted free cash flow in 2025, up 18% year-over-year, achieving 130% conversion of net income. Adjusted EBITDA rose 11% to $7.7 billion, while full-year revenue reached $37.4 billion, marking the 12th consecutive year of margin expansion.
2. 2026 Guidance and Assumptions
The company projects 2026 adjusted EBITDA of $8.1–$8.5 billion, net income of $3.9–$4.1 billion and EPS of $5.60–$6.05. Management bases guidance on healthy backlogs, expected volume and pricing gains across aggregates and cement, and stable infrastructure funding trends.
3. Capital Allocation Strategy
In 2025, CRH invested $4.1 billion in 38 acquisitions and $1.7 billion in growth capex. Shareholder returns included a 5% dividend increase to $0.39 per share, $1.0 billion in dividends, $1.2 billion in buybacks and an additional $300 million buyback tranche.
4. Segment and Market Trends
Americas Materials Solutions saw 5% revenue and 7% EBITDA growth on pricing momentum and acquisitions, while Americas Building Solutions delivered 1% revenue and 6% EBITDA gains. International Solutions posted 8% revenue and 23% EBITDA growth, driven by infrastructure and reindustrialization demand in Europe and Australia.