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Side-by-side financial comparison of North American Construction Group Ltd. (NOA) and TIC Solutions, Inc. (TIC). Click either name above to swap in a different company.
North American Construction Group Ltd. is the larger business by last-quarter revenue ($860.2M vs $508.3M, roughly 1.7× TIC Solutions, Inc.). North American Construction Group Ltd. runs the higher net margin — 4.7% vs -9.3%, a 14.0% gap on every dollar of revenue.
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
NOA vs TIC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $860.2M | $508.3M |
| Net Profit | $40.5M | $-47.2M |
| Gross Margin | 19.7% | 35.2% |
| Operating Margin | 15.4% | -3.8% |
| Net Margin | 4.7% | -9.3% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $508.3M | ||
| Q3 25 | $860.2M | $473.9M | ||
| Q2 25 | $573.3M | $313.9M | ||
| Q1 25 | $297.0M | $234.2M | ||
| Q3 24 | $636.4M | — | ||
| Q2 24 | $439.5M | — | ||
| Q1 24 | $244.3M | — | ||
| Q3 23 | $970.0M | — |
| Q4 25 | — | $-47.2M | ||
| Q3 25 | $40.5M | $-13.9M | ||
| Q2 25 | $26.0M | $-233.0K | ||
| Q1 25 | $11.5M | $-25.8M | ||
| Q3 24 | $45.5M | — | ||
| Q2 24 | $34.1M | — | ||
| Q1 24 | $21.8M | — | ||
| Q3 23 | $-26.2M | — |
| Q4 25 | — | 35.2% | ||
| Q3 25 | 19.7% | 32.2% | ||
| Q2 25 | 18.1% | 23.6% | ||
| Q1 25 | 18.0% | 18.6% | ||
| Q3 24 | 14.0% | — | ||
| Q2 24 | 14.3% | — | ||
| Q1 24 | 16.8% | — | ||
| Q3 23 | — | — |
| Q4 25 | — | -3.8% | ||
| Q3 25 | 15.4% | -1.4% | ||
| Q2 25 | 13.6% | 5.8% | ||
| Q1 25 | 13.0% | -4.0% | ||
| Q3 24 | 7.9% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 10.5% | — | ||
| Q3 23 | -2.0% | — |
| Q4 25 | — | -9.3% | ||
| Q3 25 | 4.7% | -2.9% | ||
| Q2 25 | 4.5% | -0.1% | ||
| Q1 25 | 3.9% | -11.0% | ||
| Q3 24 | 7.1% | — | ||
| Q2 24 | 7.8% | — | ||
| Q1 24 | 8.9% | — | ||
| Q3 23 | -2.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $439.5M |
| Total DebtLower is stronger | — | $1.6B |
| Stockholders' EquityBook value | — | $2.2B |
| Total Assets | $1.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $439.5M | ||
| Q3 25 | — | $164.4M | ||
| Q2 25 | — | $130.1M | ||
| Q1 25 | — | $155.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $751.3M | ||
| Q1 25 | — | $752.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | $4.4B | ||
| Q3 25 | $1.7B | $4.2B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.7B | $2.2B | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — | ||
| Q3 23 | $585.1M | — |
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.67× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $140.7M | $49.7M |
| Free Cash FlowOCF − Capex | — | $37.1M |
| FCF MarginFCF / Revenue | — | 7.3% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $61.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $49.7M | ||
| Q3 25 | $140.7M | $19.0M | ||
| Q2 25 | $85.4M | $-6.5M | ||
| Q1 25 | $19.0M | $32.8M | ||
| Q3 24 | $109.5M | — | ||
| Q2 24 | $72.0M | — | ||
| Q1 24 | $31.8M | — | ||
| Q3 23 | — | — |
| Q4 25 | — | $37.1M | ||
| Q3 25 | — | $10.3M | ||
| Q2 25 | — | $-14.5M | ||
| Q1 25 | — | $28.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | -4.6% | ||
| Q1 25 | — | 12.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.9% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 3.47× | — | ||
| Q2 25 | 3.28× | — | ||
| Q1 25 | 1.65× | — | ||
| Q3 24 | 2.41× | — | ||
| Q2 24 | 2.11× | — | ||
| Q1 24 | 1.46× | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NOA
Segment breakdown not available.
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
