Sample analysis
What the numbers can reveal.
The gap between estimated and actual margin is margin fade. We quantify it across the job portfolio to show sustainable earnings, not optimistic ones.
Percentage-of-completion, backlog, and bonding make construction financials uniquely tricky. We normalize the noise so you see the true picture.
Construction earnings live and die in the WIP schedule. Over- and under-billings, change orders, retainage, and margin fade can mask what a business actually earns.
We reconstruct the job-level detail to show sustainable margins, a credible backlog, and the working-capital and bonding dynamics that shape both value and risk.
Typically delivered through: Quality of Earnings · Finance Clean-Up · Valuations
The gap between estimated and actual margin is margin fade. We quantify it across the job portfolio to show sustainable earnings, not optimistic ones.
An owner planning an exit engaged us to get deal-ready. We rebuilt the WIP schedule, normalized over- and under-billings, tested backlog durability, and produced a clean, defensible earnings picture — so the owner controlled the narrative and protected value through diligence.
Let's pressure-test the numbers together. A short conversation is often all it takes to see the path clearly.
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