CRHHIGH SIGNALFINANCIAL10-K

CRH underwent significant balance sheet expansion with total debt increasing 26.6% to $17.5B while maintaining strong operational performance and cash generation.

The substantial debt increase of $3.6B alongside asset growth of $7.7B suggests CRH pursued major acquisitions or capital investments to expand its building materials business. The company's transition from "leading" to "the leading" provider positioning indicates strengthened market dominance, while reduced share buybacks suggest management prioritized growth investments over shareholder returns.

Comparing 2026-02-18 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

CRH's financial profile shows aggressive expansion with total assets growing 15.2% to $58.3B and debt surging 26.6% to $17.5B, indicating significant acquisition or investment activity. Despite the leverage increase, operational fundamentals remained strong with operating income rising 10.5% and operating cash flow improving 12.7% to $5.6B. The reduction in current liabilities by 15% alongside higher inventory and cash positions suggests improved working capital management and liquidity, while the 20% decline in share buybacks reflects management's focus on reinvesting for growth rather than returning capital to shareholders.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
+26.6%
$13.9B→$17.5B

Debt rose 26.6% — additional borrowing for investment or operations; monitor coverage ratios.

Share Buybacks
Cash Flow
-20.3%
$1.5B→$1.2B

Buyback activity reduced 20.3% — capital being redeployed elsewhere or cash conservation underway.

Total Liabilities
Balance Sheet
+18.3%
$27.8B→$32.9B

Liabilities increased 18.3% — monitor debt-to-equity ratio and interest coverage.

Total Assets
Balance Sheet
+15.2%
$50.6B→$58.3B

Asset base grew 15.2% — expansion through organic growth, acquisitions, or capital deployment.

Current Liabilities
Balance Sheet
-15%
$10.3B→$8.8B

Current liabilities reduced — improved short-term financial position and working capital health.

Operating Cash Flow
Cash Flow
+12.7%
$5.0B→$5.6B

Operating cash flow grew 12.7% — strong conversion of earnings to cash, healthy business fundamentals.

Stockholders Equity
Balance Sheet
+11.1%
$21.6B→$24.0B

Equity base grew 11.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Income
P&L
+10.5%
$4.9B→$5.4B

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Inventory
Balance Sheet
+10.4%
$4.8B→$5.3B

Inventory built 10.4% — monitor whether demand supports this build or if write-downs may follow.

Cash & Equivalents
Balance Sheet
+10.1%
$3.7B→$4.1B

Cash grew 10.1% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-26
ADDED
As of February 4, 2026, the number of outstanding Ordinary Shares was 668,250,818 (excluding Treasury stock of 37,976,624 shares).
CRH FORM 10-K CERTAIN TERMS Except as otherwise specified or the context otherwise requires, references to 'CRH', the 'Company', 'we', 'us' or 'our' refer to CRH plc (together with its consolidated subsidiaries), and references to years indicate our fiscal year ended December 31 of the respective year.
References to this 'Form 10-K' are to this Annual Report on Form 10-K for the year ended December 31, 2025.
All references to the 'Consolidated Financial Statements' are to Part II, Item 8 of this Annual Report.
Additional factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those expressed by the forward-looking statements in this report including, but not limited to, the risks and uncertainties described herein and in Risk Factors in Part 1, Item 1A of this Form 10-K.
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REMOVED
As of February 13, 2025, the number of outstanding ordinary shares was 676,475,037 (excluding Treasury stock of 40,944,153 shares).
EXPLANATORY NOTE CRH plc (together with its consolidated subsidiaries, the 'Company , 'CRH , the Group , we , us or our ), a corporation organized under the laws of the Republic of Ireland, previously determined, as of June 30, 2024 (including as a result of more than 50% of its ordinary shares being held by U.S.
residents), that it will no longer qualify as a foreign private issuer as defined under the U.S.
Business Overview CRH is a leading provider of building materials that build, connect and improve our world.
In 2024, the Company generated $35.6 billion of revenues, $3.5 billion of net income and $6.9 billion of Adjusted EBITDA*.
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