ROAD - Construction Partners Inc Stock Price, Fair Value and News

55.43USD+0.63 (+1.15%)Delayed

Market Summary

USD55.43+0.63

Delayed

1.15%

ROAD Alerts

Big jump in Earnings (Y/Y)

Losses in recent quarter

ROAD Stock Price

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ROAD RSI Chart

ROAD Valuation

Market Cap

2.9B

Price/Earnings (Trailing)

46.96

Price/Sales (Trailing)

1.73

EV/EBITDA

22.99

Price/Free Cashflow

29.65

ROAD Price/Sales (Trailing)

ROAD Profitability

EBT Margin

4.89%

Return on Equity

11.68%

Return on Assets

4.67%

Free Cashflow Yield

3.37%

ROAD Fundamentals

ROAD Revenue

Revenue (TTM)

1.7B

Rev. Growth (Yr)

14.34%

Rev. Growth (Qtr)

-6.32%

ROAD Earnings

Earnings (TTM)

61.3M

Earnings Growth (Yr)

79.49%

Earnings Growth (Qtr)

-111.42%

Breaking Down ROAD Revenue

Last 7 days

0.0%

Last 30 days

4.7%

Last 90 days

17.6%

Trailing 12 Months

93%

How does ROAD drawdown profile look like?

ROAD Financial Health

Current Ratio

1.64

Debt/Equity

0.81

Debt/Cashflow

0.45

ROAD Investor Care

Shares Dilution (1Y)

0.21%

Diluted EPS (TTM)

1.18

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2024	1.7B	0	0	0
2023	1.4B	1.5B	1.6B	1.6B
2022	1.1B	1.2B	1.3B	1.4B
2021	811.7M	856.3M	910.7M	1.0B
2020	808.6M	798.4M	785.7M	801.3M
2019	729.4M	761.6M	783.2M	804.2M
2018	624.2M	652.1M	680.1M	684.0M
2017	0	0	568.2M	596.2M

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

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Tracking the Latest Insider Buys and Sells of Construction Partners Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Dec 20, 2023	suntx capital ii management corp.	sold	-971,036	44.2084	-21,965	-
Dec 20, 2023	suntx capital ii management corp.	sold	-1,239,380	44.2084	-28,035	-
Dec 19, 2023	brooks judson ryan	sold (taxes)	-7,918	43.75	-181	senior vice president, legal
Dec 19, 2023	andrews todd keith	sold (taxes)	-7,481	43.75	-171	chief accounting officer
Dec 19, 2023	armstrong michael brett	sold (taxes)	-15,618	43.75	-357	senior vice president
Dec 19, 2023	smith fred julius iii	sold (taxes)	-33,950	43.75	-776	president and ceo
Dec 19, 2023	flowers robert p.	sold (taxes)	-14,306	43.75	-327	senior vice president
Dec 19, 2023	hoffman gregory a	sold (taxes)	-9,887	43.75	-226	senior vp, finance
Dec 19, 2023	fleming ned n. iv	sold (taxes)	-6,518	43.75	-149	-
Dec 14, 2023	flowers robert p.	sold (taxes)	-63,767	43.35	-1,471	senior vice president

Which funds bought or sold ROAD recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
May 16, 2024	Beacon Capital Management, LLC	new	-	4,997	4,997	-%
May 16, 2024	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	reduced	-4.24	466,961	2,449,990	-%
May 16, 2024	COMERICA BANK	reduced	-9.39	2,520,170	17,426,000	0.07%
May 16, 2024	Creekmur Asset Management LLC	sold off	-100	-2,611	-	-%
May 16, 2024	JANE STREET GROUP, LLC	reduced	-53.67	-561,737	834,950	-%
May 15, 2024	Steward Partners Investment Advisory, LLC	added	4.67	54,504	210,001	-%
May 15, 2024	D. E. Shaw & Co., Inc.	reduced	-69.27	-2,918,290	1,916,740	-%
May 15, 2024	MARSHALL WACE, LLP	reduced	-86.62	-5,592,790	1,167,300	-%
May 15, 2024	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	added	14,321	3,576,020	3,595,340	0.01%
May 15, 2024	Tower Research Capital LLC (TRC)	sold off	-100	-274,611	-	-%

Are Funds Buying or Selling ROAD?

Are funds buying ROAD calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own ROAD

No. of Funds

Unveiling Construction Partners Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	suntx capital ii management corp.	9.6%	4,595,867	SC 13G/A
Feb 13, 2024	vanguard group inc	5.37%	2,346,238	SC 13G/A
Feb 13, 2024	kayne anderson rudnick investment management llc	8.54%	3,731,360	SC 13G/A
Feb 01, 2024	invesco ltd.	3.1%	1,373,625	SC 13G/A
Jan 25, 2024	blackrock inc.	8.4%	3,655,931	SC 13G/A
Jan 05, 2024	conestoga capital advisors, llc	10.98%	4,798,691	SC 13G/A
Aug 11, 2023	fleming ned n. iv	0.8%	349,328	SC 13D
Feb 14, 2023	suntx capital management corp.	5.7%	2,513,717	SC 13G/A
Feb 14, 2023	kayne anderson rudnick investment management llc	10.43%	4,310,440	SC 13G/A
Feb 10, 2023	invesco ltd.	5.3%	2,191,966	SC 13G

Recent SEC filings of Construction Partners Inc

View All Filings

Date Filed	Form Type	Document
May 10, 2024	8-K	Current Report
May 10, 2024	10-Q	Quarterly Report
May 01, 2024	8-K	Current Report
Apr 12, 2024	8-K	Current Report
Mar 22, 2024	8-K	Current Report
Feb 13, 2024	SC 13G/A	Major Ownership Report
Feb 13, 2024	SC 13G/A	Major Ownership Report
Feb 13, 2024	SC 13G/A	Major Ownership Report
Feb 09, 2024	8-K	Current Report
Feb 09, 2024	10-Q	Quarterly Report

Peers (Alternatives to Construction Partners Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CAT	176.0B	67.0B	-0.57%	65.92%	15.65	2.63	8.59%	58.17%
GE	175.0B	69.5B	2.71%	53.73%	49.85	2.52	16.04%	-60.91%
CMI	39.1B	34.0B	-1.97%	33.06%	18.95	1.15	12.85%	-19.64%
AME	38.6B	6.7B	-6.32%	12.86%	29.28	5.73	7.11%	10.53%
ACM	12.2B	15.3B	-3.16%	12.28%	-885.03	0.79	13.36%	-103.70%
MID-CAP
APG	9.8B	6.9B	-3.29%	52.06%	57.15	1.42	3.19%	62.26%
FLR	6.6B	15.5B	-3.16%	34.99%	21.56	0.42	7.53%	3145.00%
FLS	6.5B	4.4B	8.65%	40.81%	27.89	1.48	17.31%	1.26%
ACA	4.2B	2.4B	12.71%	24.81%	29.5	1.79	4.48%	-49.27%
ALG	2.3B	1.7B	-5.99%	7.81%	17.35	1.37	8.96%	15.52%
SMALL-CAP
AMRC	1.4B	1.4B	46.91%	-37.28%	24.47	1.02	-13.54%	-25.70%
AGX	872.9M	573.3M	9.79%	57.95%	26.98	1.52	26.00%	-2.24%
NKLA	732.5M	35.8M	-15.62%	-26.90%	-0.78	20.44	-27.93%	-18.06%
AMSC	430.6M	135.4M	17.93%	212.03%	-26.25	3.18	-25.90%	65.37%
ADES	247.8M	100.1M	1.25%	441.48%	-30.37	2.47	2.80%	39.07%

Construction Partners Inc News

Latest updates

Construction Partners Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Income Statement (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Revenue	-6.3%	371	397	475	422	325	342	393	380	243	285	279	262	179	191	225	217	169	175	237	227	164
Gross Profit	-25.2%	39.00	52.00	76.00	64.00	26.00	30.00	50.00	44.00	12.00	33.00	35.00	37.00	18.00	31.00	41.00	37.00	20.00	24.00	39.00	38.00	20.00
S&GA Expenses	-100.0%	-	36.00	33.00	32.00	32.00	30.00	31.00	27.00	25.00	25.00	24.00	23.00	24.00	20.00	18.00	17.00	17.00	17.00	18.00	16.00	15.00
EBITDA Margin	1.4%	0.08*	0.08*	0.08*	0.07*	0.06*	0.06*	0.07*	0.07*	0.07*	0.08*	0.08*	0.10*	0.11*	0.12*	0.11*	0.11*	0.11*	0.11*	0.11*	0.11*	0.10*
Interest Expenses	-21.9%	-4.57	-3.75	-3.54	-5.04	-4.80	-3.96	-3.52	-2.05	-0.86	-1.26	-1.07	-0.57	-0.30	-0.47	-0.42	-0.57	-1.83	-0.28	-0.35	-0.61	-0.38
Income Taxes	-110.3%	-0.32	3.00	10.00	7.00	-1.47	1.00	4.00	4.00	-2.89	2.00	3.00	5.00	-1.51	3.00	6.00	5.00	1.00	1.00	6.00	5.00	1.00
Earnings Before Taxes	-111.1%	-1.44	13.00	41.00	29.00	-6.95	2.00	17.00	16.00	-12.30	7.00	10.00	14.00	-6.45	11.00	24.00	20.00	2.00	7.00	22.00	22.00	5.00
EBT Margin	4.3%	0.05*	0.05*	0.04*	0.03*	0.02*	0.02*	0.02*	0.02*	0.02*	0.03*	0.03*	0.05*	0.06*	0.07*	0.07*	0.06*	0.06*	0.07*	0.07*	0.07*	0.06*
Net Income	-111.4%	-1.12	10.00	31.00	22.00	-5.48	2.00	13.00	12.00	-9.42	6.00	8.00	9.00	-4.93	8.00	18.00	16.00	2.00	5.00	17.00	17.00	4.00
Net Income Margin	4.6%	0.04*	0.04*	0.03*	0.02*	0.02*	0.01*	0.02*	0.01*	0.01*	0.02*	0.02*	0.03*	0.04*	0.05*	0.05*	0.05*	0.05*	0.05*	0.06*	0.05*	0.05*
Free Cashflow	-131.4%	-10.56	34.00	44.00	30.00	-11.92	-2.78	10.00	-30.55	-15.73	-15.68	22.00	-5.75	-14.75	-9.75	43.00	24.00	8.00	-21.91	27.00	1.00	-8.31

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Assets	2.9%	1,313	1,276	1,220	1,184	1,141	1,129	1,096	1,020	938	873	807	767	616	604	628	574	548	525	532	509	476
Current Assets	3.1%	475	461	473	441	406	401	417	389	314	299	300	373	233	229	332	276	246	235	280	259	230
Cash Equivalents	-26.6%	50.00	69.00	48.00	55.00	31.00	44.00	36.00	26.00	31.00	44.00	57.00	134	34.00	52.00	148	79.00	54.00	49.00	81.00	60.00	62.00
Inventory	6.3%	103	97.00	84.00	88.00	86.00	80.00	74.00	77.00	70.00	58.00	54.00	51.00	46.00	42.00	39.00	39.00	42.00	36.00	34.00	37.00	33.00
Net PPE	0.7%	565	562	505	503	503	498	481	454	455	429	405	297	290	285	237	237	240	230	206	202	198
Goodwill	2.8%	181	177	159	157	163	160	129	125	38.00	121	85.00	78.00	77.00	77.00	46.00	46.00	0.00	45.00	39.00	2.00	37.00
Liabilities	4.4%	788	755	703	703	688	670	640	590	522	455	398	368	227	211	243	207	197	175	188	183	168
Current Liabilities	10.4%	290	263	279	241	225	203	226	204	163	143	158	152	126	108	136	126	114	103	128	131	113
Long Term Debt	-0.9%	423	427	361	405	409	413	363	341	317	274	206	189	73.00	76.00	79.00	56.00	57.00	49.00	42.00	37.00	41.00
LT Debt, Current	0%	15.00	15.00	15.00	14.00	14.00	13.00	13.00	13.00	10.00	10.00	10.00	10.00	13.00	13.00	13.00	10.00	8.00	9.00	8.00	15.00	15.00
LT Debt, Non Current	-100.0%	-	427	361	405	409	413	363	341	317	274	206	189	73.00	76.00	79.00	56.00	57.00	49.00	42.00	37.00	41.00
Shareholder's Equity	0.7%	525	521	517	481	453	459	456	431	415	417	409	400	389	393	401	367	351	349	344	326	309
Retained Earnings	-0.4%	255	256	246	215	194	199	197	184	172	181	176	168	159	164	156	138	122	121	116	99.00	82.00
Additional Paid-In Capital	0.9%	273	270	267	264	262	259	257	254	252	250	249	247	246	245	245	245	244	244	243	243	242
Shares Outstanding	0.1%	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	51.00	51.00	51.00	51.00	51.00	51.00	51.00	51.00
Float	-	-	-	-	-	1,086	-	-	-	1,039	-	-	-	1,013	-	-	-	315	-	-	-	152

Cashflow (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Cashflow From Operations	-69.9%	18,172	60,378	62,615	48,846	16,812	28,884	26,219	-13,015	3,871	-577	39,166	6,936	1,689	709	53,759	30,799	18,929	1,686	37,311	12,664	4,088
Share Based Compensation	15.3%	3,332	2,889	2,850	2,737	2,692	2,480	2,906	1,848	1,742	1,504	1,347	1,347	460	395	395	390	390	395	811	146	-
Cashflow From Investing	67.8%	-33,697	-104,661	-24,734	-21,403	-26,565	-70,670	-38,719	-18,430	-59,903	-80,274	-133,882	-19,065	-16,409	-94,056	-10,180	-6,260	-22,433	-40,490	-13,877	-11,229	-30,049
Cashflow From Financing	-105.8%	-3,750	64,914	-43,750	-3,125	-3,125	49,736	21,875	26,300	43,500	67,461	17,499	112,848	-3,250	-3,250	26,042	362	7,855	7,628	-2,463	-3,698	-3,695
Buy Backs	-100.0%	-	1,336	-	-	-	139	-	-	-	39.00	-	-	-	-	-	-	-	-	-	-	-

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ROAD Income Statement

2024-03-31

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 371,427	$ 324,850	$ 767,932	$ 666,629
Cost of revenues	332,626	298,570	677,251	609,853
Gross profit	38,801	26,280	90,681	56,776
General and administrative expenses	(36,752)	(31,989)	(72,733)	(61,714)
Gain on sale of property, plant and equipment, net	1,031	3,158	1,867	3,326
Gain on facility exchange	0	0	0	5,389
Operating income (loss)	3,080	(2,551)	19,815	3,777
Interest expense, net	(4,568)	(4,802)	(8,314)	(8,762)
Other income	43	398	15	432
Income (loss) before provision for income taxes	(1,445)	(6,955)	11,516	(4,553)
Provision for income taxes	(321)	(1,474)	2,797	(964)
Net income (loss)	(1,124)	(5,481)	8,719	(3,589)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on interest rate swap contract, net	2,478	(3,460)	(4,627)	(4,752)
Unrealized gain (loss) on restricted investments, net	(87)	81	313	117
Other comprehensive income (loss)	2,392	(3,379)	(4,313)	(4,635)
Comprehensive income (loss)	$ 1,268	$ (8,860)	$ 4,406	$ (8,224)
Net income (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.02)	$ (0.11)	$ 0.17	$ (0.07)
Diluted (in dollars per share)	$ (0.02)	$ (0.11)	$ 0.17	$ (0.07)
Weighted average number of common shares outstanding:
Basic (in shares)	51,938,216	51,827,365	51,915,069	51,826,143
Diluted (in shares)	51,938,216	51,827,365	52,523,100	51,826,143

ROAD Balance Sheet

2024-03-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 47,957	$ 48,243
Restricted cash	2,479	837
Contracts receivable including retainage, net	275,570	303,704
Costs and estimated earnings in excess of billings on uncompleted contracts	36,120	27,296
Inventories	102,750	84,038
Prepaid expenses and other current assets	10,586	9,306
Total current assets	475,462	473,424
Property, plant and equipment, net	565,351	505,095
Operating lease right-of-use assets	26,721	14,485
Goodwill	181,467	159,270
Intangible assets, net	21,451	19,520
Investment in joint venture	84	87
Restricted investments	15,452	15,079
Other assets	27,412	32,705
Total assets	1,313,400	1,219,665
Current liabilities:
Accounts payable	141,522	151,406
Billings in excess of costs and estimated earnings on uncompleted contracts	103,453	78,905
Current portion of operating lease liabilities	5,564	2,338
Current maturities of long-term debt	15,000	15,000
Accrued expenses and other current liabilities	24,608	31,534
Total current liabilities	290,147	279,183
Long-term liabilities:
Long-term debt, net of current maturities and deferred debt issuance costs	423,388	360,740
Operating lease liabilities, net of current portion	21,717	12,649
Deferred income taxes, net	35,438	37,121
Other long-term liabilities	17,727	13,398
Total long-term liabilities	498,270	423,908
Total liabilities	788,417	703,091
Stockholders’ equity:
Preferred stock, par value $0.001; 10,000,000 shares authorized and no shares issued and outstanding at March 31, 2024 and September 30, 2023	0	0
Additional paid-in capital	272,669	267,330
Accumulated other comprehensive income, net	14,381	18,694
Retained earnings	254,994	246,275
Total stockholders’ equity	524,983	516,574
Total liabilities and stockholders’ equity	1,313,400	1,219,665
Class A Common Stock
Stockholders’ equity:
Common stock	44	44
Treasury stock	(1,514)	(178)
Class B Common Stock
Stockholders’ equity:
Common stock	12	12
Treasury stock	$ (15,603)	$ (15,603)

About Construction Partners Inc

Construction Partners, Inc., a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments. It also engages in manufacturing and distributing hot mix asphalt (HMA) for internal use and sales to third parties in connection with construction projects; paving activities, including the construction of roadway base layers and application of asphalt pavement; site development, including the installation of utility and drainage systems; mining aggregates, such as sand, gravel, and construction stones that are used as raw materials in the production of HMA; and distributing liquid asphalt cement for internal use and sales to third parties in connection with HMA production. The company was formerly known as SunTx CPI Growth Company, Inc. and changed its name to Construction Partners, Inc. in September 2017. Construction Partners, Inc. was incorporated in 1999 and is headquartered in Dothan, Alabama.

CEO	Mr. Fred Julius Smith III
WEBSITE	constructionpartners.net
INDUSTRY	Apparel Manufacturing
EMPLOYEES	4000

Construction Partners Inc Frequently Asked Questions

What is the ticker symbol for Construction Partners Inc? What does ROAD stand for in stocks?

ROAD is the stock ticker symbol of Construction Partners Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Construction Partners Inc (ROAD)?

As of Fri May 17 2024, market cap of Construction Partners Inc is 2.88 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of ROAD stock?

You can check ROAD's fair value in chart for subscribers.

What is the fair value of ROAD stock?

You can check ROAD's fair value in chart for subscribers. The fair value of Construction Partners Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Construction Partners Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for ROAD so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Construction Partners Inc a good stock to buy?

The fair value guage provides a quick view whether ROAD is over valued or under valued. Whether Construction Partners Inc is cheap or expensive depends on the assumptions which impact Construction Partners Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for ROAD.

What is Construction Partners Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Fri May 17 2024, ROAD's PE ratio (Price to Earnings) is 46.96 and Price to Sales (PS) ratio is 1.73. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. ROAD PE ratio will change depending on the future growth rate expectations of investors.