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Forensic Analysis · Homebuilders & Residential Construction · as of Nov 8, 2026

Everus Construction Group, Inc. (ECG)

A forensic read on Everus Construction Group, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Safe
Financial health
4.7
Distress distance
2
Forensic signals
38.3%
ROE
31.5%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Everus Construction Group, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 4.7, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns — halted.

What the filings flag

stopped
FY2024→FY2025
Shareholder returns — halted. Capital returns have STOPPED — $179M of buybacks + dividends in FY2024, but ~$0 in FY2025. A halt usually means the company is conserving cash.
0.93×
FY2024–FY2025
Cash conversion. Over FY2024–FY2025, cumulative operating cash flow was 0.93× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.Cash conversion: operating cash flow divided by net income, the share of profit that arrived as cash.

Key fundamentals

Latest Revenue$3.75B
Revenue Growth YoY+31.5%
Net Margin5.4%
Free Cash Flow$90.0M
Return on Equity38.3%
Debt / Equity0.45x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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