← Construction Partners, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | $50.8m | $43.1m | $40.3m | $20.2m | $21.4m | $49.0m | $68.9m | $101.8m | |
| Depreciation, depletion, accretion and amortization | — | $31.2m | $39.3m | $49.8m | $65.7m | $79.1m | $92.9m | $148.3m | |
| Amortization of deferred debt issuance costs | $94k | $109k | $170k | $275k | $216k | $299k | $362k | $3.8m | |
| Deferred income taxes | ($481k) | $3.0m | $3.3m | $3.7m | $6.0m | $11.2m | $22.7m | $27.5m | |
| Share-based compensation expense | $975k | $957k | $1.6m | $3.5m | $8.0m | $10.8m | $14.4m | $37.0m | |
| Gain on sale of property, plant and equipment | ($2.4m) | ($1.9m) | ($1.6m) | ($2.0m) | ($3.7m) | ($7.0m) | ($4.5m) | ($10.9m) | |
| Cash paid for operating lease liabilities | $66.1m | $0 | $3.2m | $2.5m | $2.4m | $3.0m | $6.9m | $17.4m | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | — | $0 | $1.5m | $2.3m | $9.6m | $3.1m | $29.1m | $48.6m | |
| Unrealized loss on derivative instruments | — | $565k | $1.9m | ($3.2m) | ($382k) | $342k | $184k | $0 | |
| Provision for bad debt | $604k | $995k | $705k | $784k | ($947k) | $456k | $491k | $478k | |
| Gain on facility exchange | — | — | — | $0 | $0 | ($5.4m) | $0 | $0 | |
| Realized losses on restricted investments | — | — | — | $0 | $0 | $30k | $53k | $84k | |
| Loss from investment in joint venture | ($1.3m) | ($1.3m) | ($603k) | ($10k) | $21k | $0 | $3k | $12k | |
| Other non-cash adjustments | — | $0 | ($5k) | ($46k) | $40k | ($263k) | ($300k) | ($592k) | |
| Contracts receivable including retainage | — | ($20.6m) | $7.4m | ($27.1m) | ($97.1m) | ($26.0m) | ($6.6m) | ($56.0m) | |
| Costs and estimated earnings in excess of billings on uncompleted contracts | ($3.0m) | ($2.7m) | $4.2m | ($15.2m) | ($6.1m) | $2.6m | $5.5m | ($10.8m) | |
| Inventories | ($2.7m) | ($8.8m) | ($1.2m) | ($3.9m) | ($17.5m) | ($7.3m) | ($15.5m) | ($5.2m) | |
| Prepaid expenses and other current assets | ($8.9m) | $993k | $8.1m | ($1.8m) | ($4.9m) | $3.6m | ($13.0m) | $7.5m | |
| Other assets | ($7.8m) | $8.0m | $500k | ($2.9m) | ($955k) | ($129k) | ($522k) | ($2.6m) | |
| Accounts payable | $7.5m | $6.9m | ($5.7m) | $20.2m | $41.3m | $17.2m | $13.4m | $47.5m | |
| Billings in excess of costs and estimated earnings on uncompleted contracts | $2.0m | ($7.6m) | $2.6m | $15k | $15.6m | $24.1m | $24.9m | ($5.6m) | |
| Accrued expenses and other current liabilities | ($4.8m) | $2.1m | $3.1m | $3.8m | ($11.6m) | $2.3m | $4.8m | $9.6m | |
| Other long-term liabilities | $844k | $813k | $655k | $2.2m | $1.3m | $2.2m | $804k | ($602k) | |
| Proceeds from facility exchange | — | — | — | $0 | $0 | $37.0m | $0 | $0 | |
| Purchase of treasury stock | — | — | $0 | $0 | ($39k) | ($139k) | ($11.3m) | ($23.5m) | |
| Beginning of year | $99.1m | $80.6m | $148.3m | $57.3m | $35.6m | $49.1m | $76.7m | $159.0m | |
| Property, plant and equipment financed with accounts payable | $395k | $904k | $2.8m | $3.4m | $2.6m | $2.5m | $7.2m | $6.5m | |
| Amounts (receivable) payable to sellers in business combinations | — | $0 | $0 | $1.5m | $664k | $0 | ($153k) | $57.5m | |
| Net cash provided by operating activities | $66.1m | $55.3m | $105.2m | $48.5m | $16.5m | $157.2m | $209.1m | $291.3m | |
| Purchases of property, plant and equipment | ($42.8m) | ($42.5m) | ($52.6m) | ($56.3m) | ($68.9m) | ($97.8m) | ($87.9m) | ($137.9m) | |
| Proceeds from sale of property, plant and equipment | $4.9m | $4.5m | $3.0m | $3.7m | $7.5m | $17.7m | $14.1m | $17.8m | |
| Business acquisitions, net of cash acquired | ($51.3m) | ($13.9m) | ($30.2m) | ($210.7m) | ($128.6m) | ($91.8m) | ($231.8m) | ($1.2b) | |
| Purchases of restricted investments | — | — | $0 | $0 | ($7.4m) | ($11.4m) | ($5.5m) | ($14.8m) | |
| Proceeds from the sale of restricted investments | — | — | — | $0 | $0 | $2.9m | $3.6m | $9.9m | |
| Net cash used in investing activities | ($89.6m) | ($60.2m) | ($79.4m) | ($263.4m) | ($197.3m) | ($143.4m) | ($307.6m) | ($1.3b) | |
| Proceeds from issuance of long-term debt, net of debt issuance costs | $21.9m | $0 | $72.3m | $219.2m | $167.3m | $103.0m | $210.2m | $1.2b | |
| Principal payments of long-term debt | ($12.4m) | ($13.0m) | ($30.4m) | ($95.3m) | ($8.1m) | ($103.1m) | ($72.8m) | ($147.3m) | |
| Net cash provided by (used in) financing activities | $95.1m | ($13.6m) | $41.9m | $123.8m | $159.1m | ($264k) | $126.1m | $1.1b | |
| Net change in cash, cash equivalents and restricted cash | $71.6m | ($18.5m) | $67.7m | ($91.1m) | ($21.7m) | $13.5m | $27.6m | $82.3m | |
| Cash paid for interest | $2.3m | $2.6m | $2.0m | $3.2m | $9.3m | $19.2m | $21.7m | $80.6m | |
| Cash paid for income taxes | $14.4m | $9.1m | $9.9m | $6.2m | $1.4m | $1.0m | $5.4m | $5.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.