- Fann Contracting
- 2026
- 32
- 11
- 34.38%
- $126,013,631
- 7.50%
- 9.32%
- 4.03%
- $472,432,681

Fann Contracting enters the period with a strong active backlog of **$74M**, dominated by recently awarded 2026 projects such as Holbrook Lupton (**$33.8M** remaining) and Kingman Ash Fork (**$12.7M** remaining). These long-duration contracts will generate steady but measured cash inflows over the next several months. Bidding momentum remains solid at a 23.8% success rate, supporting pipeline replenishment.
Medium-term Outlook (6-12 months)
Continued award activity at historical levels of **$64-80M** annually should sustain operations through 2027, assuming the firm maintains its 22-24% win rate on **$300-450M** in annual bids. The existing **$74M** backlog provides a reliable base, though revenue recognition will be gradual given multi-year contract durations. Cash flow stability hinges on timely progress billings across the top five active projects.
Key Risk Period
The primary risk window occurs in late 2027 into 2028 if new awards fall below **$60M** annually, as current backlog burn rates on 120-330 month contracts may not fully offset completion of the largest 2026 projects. Extended durations also expose the firm to inflation, labor, and material cost escalation over time.
Recommendations
Prioritize acceleration of shorter-duration or JOC work to improve cash conversion cycles. Increase bid volume on high-probability horizontal and transportation projects while closely tracking monthly backlog consumption against the **$74M** total.
- (CMAR) Effluent Wastewater Pipelines SR89 Improvements
- Prescott
- 10/21/26
- South Tank Pipe Relining Project
- Prescott
- 10/1/26
- Airport Taxiway F Realignment Phase 1
- Prescott
- 9/24/26
- (CMAR) Effluent Wastewater Pipelines State Route 89 Improvements
- Prescott
- 9/22/26
- Drake Road Overlay Project FY 26 27
- Yavapai County
- 9/17/26
- Taxiway A Reconstruction Drainage Improvements Phase 1
- Cottonwood
- 8/24/26
- Holbrook Lupton I 40 (040-E-NFA) (230)T)
- ADOT
- 7/17/26
- Wickenburg Kingman (093-B-(224)T)
- ADOT
- 5/1/26
- Williamson Valley Rd Mill Fill
- Yavapai County
- 4/16/26
- Kingman Ash Fork Markham (040-B-(237)T)
- ADOT
- 4/3/26
- Williams Grand Canyon (064-A-(208)T)
- ADOT
- 1/30/26
- Prescott Flagstaff (A89-B-(225)T)
- ADOT
- $3,488,600
- 10/23/26
- Cordes Jct Prescott SR 69 (069-A-NFA)
- ADOT
- $9,925,000
- 10/23/26
- (CMAR) Effluent Wastewater Pipelines SR89 Improvements
- Prescott
- $15,000,000
- 10/21/26
- Sundog Trunk Main Sewer Phase C3
- Prescott
- $74,313,623
- 10/15/26
- South Tank Pipe Relining Project
- Prescott
- $1,471,229
- 10/1/26
- Airport Taxiway F Realignment Phase 1
- Prescott
- $2,155,777
- 9/24/26
- (CMAR) Effluent Wastewater Pipelines State Route 89 Improvements
- Prescott
- $25,000,000
- 9/22/26
- Drake Road Overlay Project FY 26 27
- Yavapai County
- $823,456
- 9/17/26
- Taxiway A Reconstruction Drainage Improvements Phase 1
- Cottonwood
- $1,937,777
- 8/24/26
- Benson Steins San Simon (010-F-(240)T)
- ADOT
- $39,256,777
- 8/21/26
- Dirt Black Copper Basin Rd
- Yavapai County
- $1,579,295
- 8/13/26
- Globe Lordsburg US 70 (070-A-(228)T)
- ADOT
- $9,227,777
- 7/31/26
- Holbrook Lupton I 40 (040-E-NFA) (230)T)
- ADOT
- $33,840,993
- 7/17/26
- Ehrenberg Phx Hwy Dome Rock (010-A (240)T)
- ADOT
- $32,979,830
- 7/10/26
- Beaverhead Flat Road Cornville Road Improvement
- Yavapai County
- $6,219,737
- 6/4/26
- Jerome Wastewater Treatment Plant Improvements
- Jerome
- $10,699,947
- 6/3/26
- Yavapai County (089-B-(223)T)
- ADOT
- $3,272,777
- 5/15/26
- Kingman Wickenburg US 93 (093-B-(227)T)
- ADOT
- $10,820,000
- 5/8/26
- Wickenburg Kingman (093-B-(224)T)
- ADOT
- $5,729,500
- 5/1/26
- Oracle Jct Florence (079-A-(214)T)
- ADOT
- $6,668,787
- 4/24/26
- Yavapai Iron Springs Rd (YYV-0-(213)T)(YYV-0-214)T)
- ADOT
- $5,387,167
- 4/17/26
- Williamson Valley Rd Mill Fill
- Yavapai County
- $2,686,931
- 4/16/26
- Payson Show Low (260-B-NFA)(260-B-(232)T)
- ADOT
- $4,336,777
- 4/10/26
- Kingman Ash Fork Markham (040-B-(237)T)
- ADOT
- $17,985,968
- 4/3/26
- Flying Fortress Parkway Phase II Grand Canyon Rd Airway (REBID)
- Kingman
- $18,857,777
- 3/24/26
- Quail Valley Water Tank
- Star Valley
- $647,875
- 3/10/26
- Flagstaff Holbrook Hwy (040-D(250)T)
- ADOT
- $5,184,444
- 3/6/26
- Gila Bend Lukeville (085-A-(211)T)
- ADOT
- $12,977,770
- 2/27/26
- Payson Show Low Lion Springs (260-B(225)T)((226)S)
- ADOT
- $80,780,000
- 2/20/26
- Kingman Ash Fork US93 (040-B-(234)T)
- ADOT
- $8,899,777
- 2/13/26
- Williams Grand Canyon (064-A-(208)T)
- ADOT
- $19,382,000
- 1/30/26
- Williams (040-A-(235)T)
- ADOT
- $895,313
- 1/9/26
- (CMAR) Effluent Wastewater Pipelines SR89 Improvements
- Prescott
- $15,000,000
- 12/20/26
- 1100
- 0%
- -
- $15,000,000
- South Tank Pipe Relining Project
- Prescott
- $1,471,229
- 11/30/26
- 120
- 0%
- -
- $1,471,229
- Airport Taxiway F Realignment Phase 1
- Prescott
- $2,155,777
- 11/23/26
- 120
- 0%
- -
- $2,155,777
- (CMAR) Effluent Wastewater Pipelines State Route 89 Improvements
- Prescott
- $25,000,000
- 11/21/26
- 730
- 0%
- -
- $25,000,000
- Drake Road Overlay Project FY 26 27
- Yavapai County
- $823,456
- 11/16/26
- 30
- 0%
- -
- $823,456
- Williams (040-A-(235)T)
- Cottonwood
- $1,937,777
- 10/23/26
- 60
- 16.7%
- $968,889
- $1,614,814
- Williams (040-A-(235)T)
- ADOT
- $33,840,993
- 09/15/26
- 300
- 16.0%
- $3,384,099
- $28,426,434
- Williams (040-A-(235)T)
- ADOT
- $5,729,500
- 06/30/26
- 210
- 59.5%
- $818,500
- $2,319,083
- Williams (040-A-(235)T)
- ADOT
- $17,985,968
- 06/02/26
- 240
- 63.7%
- $2,248,246
- $6,519,913
- Williams (040-A-(235)T)
- ADOT
- $19,382,000
- 03/31/26
- 330
- 65.5%
- $1,762,000
- $6,695,600
- Williams (040-A-(235)T)
- Kingman
- $10,000,000
- 07/12/24
- 1800
- 46.8%
- $166,667
- $5,316,667
- Williams (040-A-(235)T)
- Coconino County
- $10,000,000
- 04/16/23
- 1700
- 76.2%
- $176,471
- $2,376,471
- $9,524,872
- $97,719,444




