- FNF Construction - AZ
- 2026
- 22
- 7
- 31.82%
- $289,714,530
- 8.83%
- 10.04%
- 4.41%
- $523,563,970
- FNF Construction - NM
- 2026
- 6
- 2
- 33.33%
- $12,814,713
- 8.28%
- 17.02%
- 8.62%
- $86,365,556
- FNF Construction - TX
- 2026
- 10
- 4
- 40.00%
- $174,110,641
- 9.68%
- 17.14%
- 9.97%
- $286,633,693
- FNF Construction - CO
- 2026
- 14
- 2
- 14.29%
- $14,688,881
- 5.42%
- 12.95%
- 6.56%
- $242,022,447

FNF Construction holds **$76M** in remaining backlog, dominated by the Bernalillo project with **$75.7M** estimated remaining. The Torrance project contributes only **$468k**, indicating minimal near-term revenue ramp. Low 2026 win rate of 25% limits new cash flow opportunities in the immediate window.
Medium-term Outlook (6-12 months)
The Bernalillo contract's extended 1200-month duration suggests steady but slow burn of the **$76M** backlog through mid-2027. Historical bidding volume of **$419M** in 2025 with only 25% success signals potential for additional awards if hit rates improve. Cash flow should stabilize around the active projects absent new wins.
Key Risk Period
Extended project durations and thin remaining balances on recent lows create exposure beyond 12 months, with only two active jobs supporting operations. Persistent 25% success rates across **$801M** in total bids over three years heighten backlog replenishment risk.
Recommendations
Prioritize bid strategy refinement to lift win rates above 30% and accelerate new contract capture. Monitor monthly burn on the **$76M** backlog to align resources with the dominant Bernalillo project timeline.




