- Shimmick Construction - CA
- 2026
- 4
- 2
- 50.00%
- $133,907,278
- 5.46%
- 9.13%
- 10.18%
- $187,927,478
- Shimmick Construction - WA
- 2026
- 1
- 0
- 0.00%
- $0
- 0.00%
- 16.96%
- 0.21%
- $13,610,591

Shimmick enters the period with **$156.6M** total remaining backlog, dominated by the recently awarded **$124.4M** Coyote Creek project. Cash inflows should accelerate as mobilization begins on this 120-month contract alongside continued burn on the two 2025 projects. Bidding momentum from the 50% 2026 success rate supports steady pipeline replenishment.
Medium-term Outlook (6-12 months)
Execution of the **$133.9M** in 2026 low bids will drive revenue recognition, though the 10-year Coyote duration limits near-term cash velocity. The **$32.2M** combined remaining value on the Pier Bridge and Whittier Narrows projects provides a stable but declining base. Continued 50%+ win rates will be required to maintain backlog above **$150M**.
Key Risk Period
The 2024 zero-win year and 11.66% average left-on-low in 2025 highlight vulnerability if 2026 momentum stalls. Extended 40-70 year contract durations on active projects create prolonged retention and cash-flow drag. A gap in new awards during late 2026 could compress liquidity before Coyote ramps fully.
Recommendations
Prioritize bids with 24-36 month durations to balance the long-tail backlog. Tighten pre-bid cost reviews to reduce the 5.46% left-on-low margin erosion seen in 2026. Monitor monthly cash draws on Coyote Creek to ensure positive operating cash flow within the first six months.
- 1MG SCLA Reclaimed Water Reservoir 2
- Victorville
- $10,499,500
- 7/9/26
- C0724 Coyote Creek Flood Protection
- Santa Clara Valley WD
- $124,378,308
- 6/24/26
- Cater Reservoir Resiliency
- Santa Barbara
- $43,520,700
- 2/6/26
- Napa River Napa Creek Flood Protection Floodwalls North Bypass
- Napa County
- $9,528,970
- 1/20/26
- Napa River Napa Creek Flood Protection Floodwalls North Bypass
- Santa Clara Valley WD
- $124,378,308
- 08/23/26
- 120
- 43.3%
- $31,094,577
- $70,481,041
- Napa River Napa Creek Flood Protection Floodwalls North Bypass
- Santa Monica
- $29,649,409
- 09/13/25
- 484
- 81.8%
- $1,837,773
- $5,390,802
- Napa River Napa Creek Flood Protection Floodwalls North Bypass
- Los Angeles County
- $44,580,000
- 06/23/25
- 850
- 56.2%
- $1,573,412
- $19,510,306
- $34,505,762
- $95,382,149



