CRH vs Knife River
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The short version
- CRH is the larger business, with $37.4B of revenue in fiscal 2025 against $3.1B for Knife River, about 12 times as much.
- Knife River grew revenue faster (8.5%, against 5.3%).
- CRH kept more of each dollar of sales as operating profit (14.5% operating margin, against 9.1%).
- CRH turned more of its sales into free cash flow (7.8% FCF margin, against −2.2%).
- CRH earned a higher return on the capital invested in it (11.8%, against 9.1%).
- Investors pay more for each dollar of Knife River’s earnings: a P/E of 21.7x against 15.0x for CRH.
| Latest fiscal year | CRH · FY25 | KNF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $56.8B | $3.0B |
| Revenue | $37.4B | $3.1B |
| Free cash flow | $2.9B | −$69.6M |
| Net income | $3.8B | $157M |
| Growth | ||
| Revenue growth | 5.3% | 8.5% |
| 5-year growth | 7.7% | — |
| Share count change | −1.8% | 0.1% |
| Profitability | ||
| Gross margin | 36.1% | 18.4% |
| Operating margin | 14.5% | 9.1% |
| Net margin | 10.0% | 5.0% |
| FCF margin | 7.8% | −2.2% |
| Return on capital | 11.8% | 9.1% |
| Return on equity | 16.5% | 10.1% |
| Balance sheet | ||
| Net debt | $14.1B | $1.1B |
| Net debt / EBITDA | 1.9x | 2.3x |
| Dividends and buybacks | $1.2B | $0.0M |
| Valuation & quality | ||
| P/E | 15.0x | 21.7x |
| Piotroski F-score | 7 | 3 |
Revenue
FY16
CRH —
KNF —
FY17
CRH —
KNF —
FY18
CRH $27.4B
KNF —
FY19
CRH $28.1B
KNF —
FY20
CRH $25.9B
KNF —
FY21
CRH $29.2B
KNF $2.2B
FY22
CRH $32.7B
KNF $2.5B
FY23
CRH $34.9B
KNF $2.8B
FY24
CRH $35.6B
KNF $2.9B
FY25
CRH $37.4B
KNF $3.1B
CRH
KNF
Operating margin
FY16
CRH —
KNF —
FY17
CRH —
KNF —
FY18
CRH 8.9%
KNF —
FY19
CRH 9.9%
KNF —
FY20
CRH 7.8%
KNF —
FY21
CRH 11.4%
KNF 8.6%
FY22
CRH 11.6%
KNF 7.7%
FY23
CRH 12.0%
KNF 10.5%
FY24
CRH 13.9%
KNF 10.9%
FY25
CRH 14.5%
KNF 9.1%
CRH
KNF
Free cash flow
FY16
CRH —
KNF —
FY17
CRH —
KNF —
FY18
CRH $922M
KNF —
FY19
CRH $2.5B
KNF —
FY20
CRH $2.9B
KNF —
FY21
CRH $2.4B
KNF $7.0M
FY22
CRH $2.3B
KNF $29.3M
FY23
CRH $3.2B
KNF $211M
FY24
CRH $2.4B
KNF $150M
FY25
CRH $2.9B
KNF −$69.6M
CRH
KNF
Return on capital
FY16
CRH —
KNF —
FY17
CRH —
KNF —
FY18
CRH —
KNF —
FY19
CRH 6.5%
KNF —
FY20
CRH 5.0%
KNF —
FY21
CRH 10.3%
KNF —
FY22
CRH 11.3%
KNF —
FY23
CRH 12.1%
KNF 16.1%
FY24
CRH 12.7%
KNF 12.9%
FY25
CRH 11.8%
KNF 9.1%
CRH
KNF
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.