- FNF Construction - AZ
- 2026
- 23
- 8
- 34.78%
- $557,591,290
- 8.00%
- 9.60%
- 4.31%
- $791,440,730
- FNF Construction - NM
- 2026
- 7
- 2
- 28.57%
- $12,814,713
- 8.28%
- 20.28%
- 9.51%
- $126,482,537
- FNF Construction - TX
- 2026
- 11
- 4
- 36.36%
- $174,110,641
- 9.68%
- 19.91%
- 9.96%
- $292,985,335
- FNF Construction - CO
- 2026
- 19
- 3
- 15.79%
- $18,242,873
- 6.58%
- 16.03%
- 8.48%
- $267,243,644

FNF Construction holds a minimal active backlog of **$4.3M** remaining on the Skeel Reservoir Renovation, providing limited revenue through progress billings on its 120-month duration. Recent bid success rates of 8.3% in 2026 and 9.1% in 2025 on volumes exceeding **$100M** annually signal ongoing challenges in securing new work. Cash flow remains stable but constrained without immediate additional awards.
Medium-term Outlook (6-12 months)
The single long-duration project supports modest, predictable cash inflows through 2027 but offers little growth potential given the thin **$4.3M** backlog. Historical win rates below 11% on bids averaging **$150M** yearly indicate persistent pipeline replenishment issues. Revenue visibility declines as the contract advances without new wins.
Key Risk Period
The key risk period begins after 12 months as the current project matures and backlog depletion accelerates without improved conversion of bids. Low success rates of 8-10% heighten exposure to cash flow gaps if no new contracts are secured by late 2026.
Recommendations
Prioritize bid strategy refinements to raise success rates above 10% and target higher-probability opportunities. Closely track monthly expenditures against the **$4.3M** remaining backlog to maintain positive cash flow. Diversify the project pipeline to reduce reliance on the single long-term contract.
- Woodmoor Dr Lake Woodmoor Dr Roundabout Project
- El Paso County
- $2,876,008
- 10/6/26
- Fall River Trail Final Segment
- Estes Park
- $3,553,992
- 10/1/26
- Weld County Road 26 Multi Use Trail Phase 1
- Longmont
- $2,497,650
- 9/23/26
- Region 3 Bridge Scour Mitigation SH 13 STA 0131-073 (24354)
- CDOT
- $11,698,748
- 9/10/26
- Owl Canyon CR 70 Road Reconstruction CR 11 CR 13 PN 329
- Larimer County
- $4,594,799
- 9/9/26
- Gold Strike Park Construction
- Arvada
- $8,956,975
- 8/13/26
- Region 4 I76 Roadway Reconstruction Bridge Replacements NHPP 0761-252 (26370 combo)
- CDOT
- $52,435,589
- 8/13/26
- Region 1 Interchange Reconstruction Bridge Replacement US 6 SH 121 NHPP 1211-111 (26942Combo)
- CDOT
- $99,462,017
- 6/25/26
- Skeel Reservoir Renovation
- Denver
- $5,731,906
- 5/14/26
- Weld County Road 34 Bridge Replacement
- Mead
- $1,159,927
- 5/11/26
- Construction Hwy 7 Hwy 85 Intersection Improvements
- Brighton
- $3,064,086
- 5/7/26
- Glen Aspen Dam Access Improvements
- Woodland Park
- $1,343,622
- 4/14/26
- Cleveland Avenue Revitalization SHO M430 006 CID No 25044
- Wellington
- $6,887,318
- 3/20/26
- Orchard Avenue Safety Connectivity Project Phase 1
- Mesa County
- $4,857,701
- 3/19/26
- US 40 West Trail Connection
- Steamboat Springs
- $11,532,271
- 3/12/26
- Pace Street Rough Ready Trail Improvements
- Longmont
- $3,996,377
- 3/11/26
- Lone Tree Creek Trail Underpass Arapahoe Road MP 19 6
- Centennial
- $4,323,470
- 2/6/26
- Region 3 I70 Frisco Exit 203 Off Ramp Widening NHPP 0702-422 (24873)
- CDOT
- $28,710,439
- 2/5/26
- Gartrell Bridge Widening
- Aurora
- $9,560,749
- 1/21/26




