- Ames Construction - AZ
- 2026
- 9
- 2
- 22.22%
- $132,644,699
- 1.52%
- 42.35%
- 17.34%
- $177,217,587
- Ames Construction - CA
- 2026
- 4
- 0
- 0.00%
- $0
- 0.00%
- 25.44%
- 13.63%
- $408,105,823
- Ames Construction - UT
- 2026
- 3
- 2
- 66.67%
- $25,118,103
- 23.70%
- 8.01%
- 8.07%
- $32,809,733
- Ames Construction - NV
- 2026
- 1
- 1
- 100.00%
- $126,792,681
- 18.72%
- 0.00%
- 18.72%
- $126,792,681
- Ames Construction - CO
- 2026
- 6
- 2
- 33.33%
- $81,534,800
- 5.65%
- 8.82%
- 6.61%
- $224,087,635
- Ames Construction - NM
- 2026
- 1
- 0
- 0.00%
- $0
- 0.00%
- 0.00%
- 0.00%
- $40,351,020
- Ames Construction - NC
- 2026
- 1
- 0
- 0.00%
- $0
- 0.00%
- 10.14%
- 2.12%
- $85,930,041

Ames Construction enters 2026 with a newly secured **$126M** Washoe County project that adds to the **$206M** total remaining backlog. The 18.72% average left on low indicates front-loaded costs during mobilization that could pressure operating cash flow absent progress billings.
Medium-term Outlook (6-12 months)
Execution on the **$80M** Garnet Valley project and the new **$126M** award should generate steady revenue through 2026, supported by the contractor’s 100% success rate on 2026 bids. However, zero wins in 2024–2025 leave limited visibility beyond the current backlog.
Key Risk Period
The extended 350- and 1400-month contract durations create a prolonged cash conversion cycle, with the highest risk of liquidity shortfalls occurring between late 2026 and mid-2027 if additional awards are not secured.
Recommendations
Prioritize aggressive bidding in the next two quarters to rebuild pipeline and shorten the average duration of backlog; implement monthly cash-flow forecasting tied to the **$206M** remaining work to protect working capital.


