ROAD

Construction Partners, Inc.

Ticker: ROADIndustrialsConstruction
HQ DOTHAN, ALCIK 1718227FY end 09-30Book / share $18.52Shares 56M
Revenue (FY)
$2.81B+54.20%
TTM $3.48B
Op. margin
7.99%+1.89%
TTM 8.57%
Net income
$101.78M+47.65%
TTM $142.51M
Operating cash
$291.30M+39.33%
TTM $352.84M
Free cash flow
$153.37M+26.60%
TTM $175.56M
Return on equity
11.16%-0.85%
TTM 13.69%
Debt / equity
1.77+0.87%
TTM 1.72
Shares outstanding
55.4M+5.32%
TTM 56.2M

The business

Construction Partners, Inc. (NASDAQ: ROAD) is a civil infrastructure company specializing in the construction and maintenance of roadways across the Sunbelt region. The company maintains its website at www.constructionpartners.net.

The company operates through a vertically integrated business model providing a comprehensive range of products and services to both public and private infrastructure projects. Core operations include manufacturing and distributing hot mix asphalt for internal use and third-party sales, paving activities encompassing roadway base layer construction and asphalt pavement application, site development including utility and drainage system installation, mining aggregates such as sand and gravel used as raw materials in HMA production and sold to third parties, and distributing liquid asphalt cement for both internal consumption and external sales.

Construction Partners serves customers across eight states: Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The company's customer base consists of federal agencies, state departments of transportation, local municipalities, commercial developers, and residential developers. During fiscal year 2025, publicly funded construction projects and material sales to public customers accounted for approximately 65 percent of revenues, while privately funded projects and third-party sales represented approximately 35 percent. State departments of transportation represent the company's largest customer category, accounting for 43.4 percent of fiscal 2025 revenues, though no single customer exceeded 10 percent of total revenues.

As of September 30, 2025, the company employed 1,639 salaried employees and 4,773 hourly employees. The company maintains a contract backlog of $3.0 billion as of fiscal year-end 2025, with approximately 78 percent expected to be completed within the following 12 months.

Construction Partners was formed as a Delaware corporation in 2007 as a holding company to facilitate an acquisition growth strategy. The company has completed 54 acquisitions since inception. During fiscal 2025, the company completed five acquisitions across four states, adding 27 HMA plants, four aggregate facilities, a liquid asphalt terminal, and a rail-served aggregates terminal. The company announced its ROAD 2030 strategic plan in October 2025, establishing a goal of exceeding $6 billion in revenues by fiscal year 2030.

Sector
Industrials
Industry
Construction
HQ
DOTHAN, AL
FY end
09-30
CIK
1718227
SIC
1600
Financial performance · annual
20182025
$-347.79M$695.59M$1.74B$2.78B$3.83B20182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Construction Partners, Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

343
funds hold it
1 of 35
superinvestors hold it
$3.26B
fund-held value
56.5%
of shares held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$163.02M
iShares Russell 2000 ETF
IWM · iShares Trust
0.18%$147.53M
First Trust RBA American Industrial Renaissance ETF
AIRR · First Trust Exchange-Traded Fund VI
1.15%$132.15M
Strategic Advisers Fidelity U.S. Total Stock Fund
FCTDX · Fidelity Rutland Square Trust II
0.05%$120.75M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.06%$117.67M

Superinvestors in Construction Partners, Inc.

Polen CapitalDECREASED -15.3%
Polen Capital Management
<0.1%

Share of each manager's reported 13F portfolio.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of Construction Partners, Inc.'s financials

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