Concrete Pumping Holdings (BBCP) just wrapped up FY 2025 with fourth quarter revenue of US$108.8 million and basic EPS of US$0.10, alongside net income of US$4.9 million, setting the tone for how the year closed out. The company has seen quarterly revenue move from US$111.5 million and EPS of US$0.17 in Q4 FY 2024 to US$108.8 million and EPS of US$0.10 in Q4 FY 2025, while trailing twelve month net profit margins sit at 1.2% compared with 3.4% a year earlier, so investors are weighing modest headline earnings against tighter profitability. Overall, the latest print leaves the focus squarely on how margins evolve from here.

See our full analysis for Concrete Pumping Holdings.

With the numbers on the table, the next step is to set these results against the widely shared narratives around growth potential, risk, and profitability to see which views hold up and which might need a rethink.

Margins Thin With 1.2% TTM Profit

• On a trailing twelve month basis, Concrete Pumping Holdings generated US$392.9 million of revenue and US$4.6 million of net income, which works out to a 1.2% net profit margin compared with 3.4% a year earlier.
• Analysts' consensus view expects profit margins to move from 2.2% to 2.9% over the next 3 years, which leans bullish on margin recovery, yet the current 1.2% trailing margin and prior quarters with losses in FY 2025 raise questions about how quickly those higher margins can show up in the reported numbers.
  • Earlier in FY 2025 the company reported quarterly net losses of US$3.1 million and US$0.4 million in Q1 and Q2, then moved to profits of US$3.3 million and US$4.9 million in Q3 and Q4, so the full year picture mixes weaker and stronger quarters.
  • Consensus narrative highlights higher margin specialty and infrastructure work as a key margin driver, but the recent drop from a 3.4% to 1.2% trailing margin suggests those higher margin projects have not yet translated into stronger overall profitability.

High P/E Of 74.1x Versus Peers

• The shares trade on a trailing P/E of 74.1x, which is higher than both peer companies at 26x and the broader US Construction industry at 34.4x, even though trailing net profit is US$4.6 million on US$392.9 million of revenue.
• Consensus narrative points to expanding into infrastructure and specialty projects and to strong capital discipline as reasons some investors accept a richer multiple, yet the high P/E, low 1.2% margin, and earlier FY 2025 losses give bearish investors support for arguing that the current earnings base leaves little room for disappointment.
  • Bears also highlight leverage, including a major risk that interest payments are not well covered by earnings, which can make a 74.1x multiple feel demanding when net income is relatively small in dollar terms.
  • At the same time, revenue over the last twelve months of US$392.9 million is lower than the US$425.9 million level a year earlier, so anyone paying the higher multiple is relying on future improvements rather than recent top line momentum.

Have a closer look at why some investors are cautious about BBCP's valuation and debt load before you make up your mind. 🐻 Concrete Pumping Holdings Bear Case

DCF Fair Value Of US$10.63 Vs US$6.69 Price

• The current share price of US$6.69 sits below a stated DCF fair value of US$10.63 and below an analyst price target of US$8.25, while earnings are forecast to grow around 44.8% per year compared with revenue growth of about 3% per year.
• Bulls argue that exposure to infrastructure projects, specialty jobs like data centers and semiconductor facilities, and ongoing fleet upgrades can support those faster earnings growth forecasts, and the gap between US$6.69 and the US$10.63 DCF fair value heavily supports that bullish case as long as the company can improve on the current 1.2% margin and address the major risk that interest expenses are not well covered by earnings.
  • Consensus narrative also expects earnings to reach about US$12.4 million with EPS of US$0.33 by around 2028, compared with trailing net income of US$4.6 million, which is a meaningful step up from today.
  • Analysts further assume profit margins rising from 2.2% to 2.9% and a lower P/E of 38.9x in 2028, so the bullish view depends on both better profitability and a higher earnings base than the recent trailing figures show.

If you want to see how the optimistic case ties these earnings forecasts to BBCP's long term story, check out the full bull thesis next. 🐂 Concrete Pumping Holdings Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Concrete Pumping Holdings on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

See something in the figures that others might be missing? Turn that view into a full narrative in just a few minutes and share your angle with other investors. Do it your way

A great starting point for your Concrete Pumping Holdings research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

See What Else Is Out There

BBCP's thin 1.2% trailing net margin, prior quarterly losses, high 74.1x P/E, and meaningful interest coverage risk indicate room for financial strain.

If you want companies where earnings are backed by sturdier finances and less debt pressure, take a serious look at solid balance sheet and fundamentals stocks screener (1937 results) to focus on balance sheets built to handle stress.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.