Munger Mode rating: 4 out of 5 — Buy. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
This is a business Charlie and I can explain to anyone in two minutes, which is exactly how we like it. CRH digs rock out of the ground, crushes it, and sells it — along with the cement, ready-mixed concrete, and asphalt made from it — and then, in much of America, lays that asphalt down on the roads itself. It is the largest building materials company in North America and one of the largest in the world, with roughly $38–39 billion in annual revenue and, per the June 30, 2026 10-Q, $10.8 billion of revenue in the second quarter alone. The company reports in three segments: Americas Materials Solutions ($4.96 billion of Q2 revenue, up 10% year over year): aggregates, cement, asphalt, ready-mixed concrete, and paving/construction services across the United States and Canada. This is the crown jewel.
Recent filings analysed: 10-Q (2026-07-30), 8-K (2026-07-30), 8-K (2026-07-17), 8-K (2026-06-22).
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