Everus Construction reported $4.78B of remaining performance obligations at 30 Sep 2026, up 78% from a year earlier and up 21% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.60.
Net new backlog added in the latest quarter: $830M.
Over the last twelve months it turned about 150% of its opening backlog into revenue (12-month conversion).
83% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 10.9% of the backlog.
Twelve-month book-to-bill: 1.45, i.e. 1.45 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +44 points — orders are running ahead of revenue.
By backlog size it ranks 115th among US filers the cockpit tracks.
Everus Construction backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$4.78B
$4.66B
1.0 yrs
$522M
30 Jun 2026
$3.95B
$4.27B
0.9 yrs
$419M
31 Mar 2026
$3.09B
$3.96B
0.8 yrs
$345M
31 Dec 2025
$2.80B
$3.75B
0.7 yrs
$305M
30 Sep 2025
$2.69B
$3.49B
0.8 yrs
$270M
30 Jun 2025
$2.68B
$3.27B
0.8 yrs
$230M
31 Mar 2025
$2.73B
$3.05B
0.9 yrs
$187M
31 Dec 2024
$2.46B
$2.85B
0.9 yrs
$207M
30 Sep 2024
$2.88B
n/a
n/a
$222M
31 Dec 2023
$2.01B
$2.85B
0.7 yrs
$140M
Questions
What is Everus Construction's backlog?
Everus Construction reported $4.78B of remaining performance obligations at 30 Sep 2026, up 78% from a year earlier and up 21% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.60.
How fast does Everus Construction's backlog turn into revenue?
Over the last twelve months Everus Construction recognised revenue equal to about 150% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.