WHAT'S THE AVERAGE GROSS MARGIN FOR YOUR TRADE?
Gross margin is what the job leaves behind before the office gets paid. It's the number every other number depends on, and most subcontractors have never seen theirs against the trade.
Gross Margin across commercial construction trades runs from 18 percent (grading, sitework, underground utility at $1M to $5M) up to 36 percent at $500M+. For most subcontractors doing $1M to $12M the industry average sits between 18 and 28 percent depending on trade. The CFOS target is set at whatever gross margin produces that net profit once your overhead is paid, and never below your trade's own average. The distance between the average and the target is almost always overhead that was never loaded into the bid.
YOUR REVENUE, IN REAL DOLLARS.
This is the industry benchmark, not your number. It shows what other subcontractors in your trade run, so you have something to measure against.
ALL 48 TRADES, SIDE BY SIDE.
Every trade here is an SPM trade with its own operating system page, linked in the first column.° marks a figure derived from the nearest comparable trade, with no direct measurement behind it. Every figure is an industry AVERAGE for that band, with the CFOS target in its own column beside it.
| Trade | $1M to $5M | $5M to $10M | $10M to $25M | $25M to $50M | $50M to $100M | $100M to $500M | $500M+ | CFOS target, $1M to $5M |
|---|---|---|---|---|---|---|---|---|
| CIVIL & EARTHWORK | ||||||||
| Civil | 21% | 23% | 25% | 26% | 27% | 28% | 30% | 23.5% |
| Demolition | 20% | 22% | 23% | 25% | 26% | 28% | 29% | 25% |
| Environmental Remediation° | 23% | 24% | 26% | 27% | 28% | 30% | 31% | 25.5% |
| Excavation | 21% | 23% | 24% | 26% | 27% | 28% | 30% | 23.5% |
| Grading | 18% | 20% | 22% | 23% | 25% | 27% | 28% | 25% |
| Paving | 20% | 22% | 23% | 25% | 26% | 28% | 29% | 23% |
| Sitework | 18% | 20% | 22% | 24% | 26% | 27% | 28% | 24% |
| SWPPP and Erosion Control | 24% | 26% | 27% | 29% | 30% | 32% | 34% | 26.5% |
| Underground Utility | 18% | 20% | 22% | 23% | 25% | 27% | 28% | 24% |
| HEAVY CIVIL & INFRASTRUCTURE | ||||||||
| Bridge° | 22% | 23% | 24% | 25% | 27% | 28% | 30% | 24.5% |
| Tunnel° | 23% | 24% | 25% | 26% | 28% | 29% | 31% | 25.5% |
| CONCRETE & MASONRY | ||||||||
| Concrete | 21% | 22% | 23% | 24% | 25% | 26% | 28% | 23.5% |
| Concrete Flatwork | 22% | 23% | 24% | 25% | 26% | 27% | 29% | 24.5% |
| Masonry | 21% | 22% | 23% | 24% | 25% | 26% | 28% | 23.5% |
| Precast Concrete° | 22% | 23% | 24% | 25% | 26% | 27% | 29% | 24.5% |
| CONCRETE & SPECIALTY | ||||||||
| Concrete Pumping° | 23% | 24% | 25% | 26% | 28% | 29% | 31% | 25.5% |
| SITE & GROUNDS | ||||||||
| Irrigation° | 22% | 23% | 24% | 25% | 26% | 27% | 29% | 24.5% |
| Landscaping° | 22% | 23% | 24% | 25% | 26% | 27% | 29% | 24.5% |
| ELECTRICAL & TECH | ||||||||
| Electrical | 25% | 27% | 28% | 29% | 30% | 32% | 33% | 27.5% |
| Fiber | 22% | 23% | 24% | 25% | 27% | 28% | 30% | 24.5% |
| Low Voltage and AV° | 24% | 25% | 26% | 27% | 29% | 30% | 32% | 26.5% |
| Security Systems | 22% | 24% | 25% | 26% | 28% | 29% | 31% | 25% |
| Solar | 22% | 23% | 24% | 25% | 27% | 28% | 30% | 24.5% |
| Telecom | 22% | 23% | 24% | 25% | 26% | 28% | 29% | 24.5% |
| MECHANICAL, PLUMBING & HVAC | ||||||||
| HVAC° | 24% | 25% | 26% | 27% | 29% | 30% | 32% | 26.5% |
| Mechanical | 25% | 26% | 27% | 28% | 30% | 31% | 33% | 27.5% |
| Plumbing | 25% | 26% | 27% | 28% | 30% | 31% | 33% | 27.5% |
| Process Piping° | 24% | 25% | 26% | 27% | 29% | 30% | 32% | 26.5% |
| FIRE & LIFE SAFETY | ||||||||
| Fire Alarm | 24% | 25% | 26% | 27% | 29% | 30% | 32% | 26.5% |
| Fire Protection | 23% | 25% | 26% | 27% | 28% | 30% | 31% | 25.5% |
| VERTICAL TRANSPORTATION | ||||||||
| Elevator | 27% | 28% | 29% | 30% | 32% | 33% | 35% | 29.5% |
| STRUCTURE & ENVELOPE | ||||||||
| Curtain Wall and Glazing | 27% | 28% | 29% | 30% | 31% | 32% | 34% | 29.5% |
| EIFS and Stucco | 23% | 24% | 25% | 26% | 27% | 28% | 30% | 25.5% |
| Framing | 18% | 19% | 20% | 22% | 23% | 25% | 27% | 22% |
| Insulation | 22% | 23% | 24% | 25% | 26% | 28% | 29% | 24.5% |
| Roofing° | 22% | 23% | 24% | 25% | 27% | 28% | 30% | 24.5% |
| Siding° | 21% | 22% | 23% | 24% | 25% | 26% | 28% | 23.5% |
| Structural Steel | 23% | 24% | 25% | 26% | 28% | 29% | 31% | 25.5% |
| Waterproofing | 26% | 27% | 28% | 29% | 31% | 32% | 34% | 28.5% |
| INTERIORS & FINISH | ||||||||
| Acoustic Ceiling° | 21% | 22% | 23% | 24% | 26% | 27% | 29% | 23.5% |
| Drywall | 19% | 21% | 22% | 23% | 25% | 27% | 28% | 22% |
| Flooring | 19% | 21% | 22% | 23% | 25% | 26% | 28% | 23% |
| Interiors | 19% | 21% | 22% | 23% | 25% | 26% | 28% | 22% |
| Painting | 18% | 20% | 21% | 22% | 24% | 25% | 27% | 22% |
| Tile & Stone° | 22% | 23% | 24% | 25% | 26% | 28% | 29% | 24.5% |
| MARINE & SPECIALTY | ||||||||
| Marine | 22% | 23% | 25% | 26% | 27% | 28% | 30% | 24.5% |
| INDUSTRIAL & ENERGY | ||||||||
| Tank and Vessel° | 23% | 24% | 25% | 27% | 28% | 30% | 32% | 25.5% |
| ACCESS & SPECIALTY | ||||||||
| Scaffolding° | 26% | 28% | 29% | 31% | 32% | 34% | 36% | 28.5% |
One point of margin is worth $10,000 at $1M of revenue, $50,000 at $5M, and $100,000 at $10M. The CFOS target column shows $1M to $5M; the per-trade pages show it for $5M to $10M and $10M to $25M as well.
Industry averages are shown for all 7 bands. The four bands above $10M to $25Mare a modeled extension of the survey curves: the gross margin and overhead rows there have not been reconciled against the licensed CFMA Benchmarker, and the calculated net runs well above survey medians. The CFOS target stops at $10M to $25M for that reason, because a target derived from an unreconciled ladder is one the site cannot defend.
Gross margin and overhead come from figures CFMA, Jones Maresca and other sources publish by trade and size. Net profit is derived from them as gross margin minus overhead, so the three rows tie. That makes it an operating profit figure: what is left before interest, other income and expense, and the tax planning choices owners make, such as bonuses, depreciation methods and retirement contributions.
Surveys report net income before taxes after those items, so a reported net can run below the figure here. At the typical contractor the difference is small: CFMA's 2025 medians are 7.1 percent before interest and taxes and 6.7 percent net income before taxes. It grows with size. Against the separate measured net profit dataset, the calculated net runs 0.8 points higher at $1M to $5M, 2.2 points at $5M to $10M and 3.5 points at $10M to $25M, because the gross margin and overhead rows change faster with size than reported net profit does. Above the $10M to $25M band the gross margin and overhead rows are a modeled extension of the same curves. They have not been reconciled against the licensed CFMA Benchmarker, and the calculated net there runs well above survey medians, so read those bands as a model and not as a survey result.
Trade figures are from the Run On CFOS Trade Benchmark Reference, published by Sulphur Prairie Operations, LLC. Gross margin and overhead come from figures CFMA, Jones Maresca and other sources publish, with 16 trades derived from the nearest comparable trade and disclosed as such on each page. Net profit is derived as gross margin minus overhead. The bands above $25M are a modeled extension of the same curves. Re-validate against CFMA reporting on the normal quarterly cycle, per the benchmark reference's own instruction.
The trade figures are the Run On CFOS reference. Gross margin and overhead come from figures CFMA and other sources publish by trade: CFMA's 2024 Benchmarker, CFMA's 2025 Benchmarker and the Jones Maresca and Company 2025 specialty contractor benchmarks among them. Net profit is derived as gross margin minus overhead, so the three figures tie out in every band. CFMA's full Benchmarker is a licensed product and the survey itself is theirs. Every trade in the reference publishes a row of its own. Each new edition is checked against the latest CFMA and JMCO releases before publication.
- 2024 Construction Financial Benchmarker, Executive Summary, Construction Financial Management Association, 2024. 21.8% gross profit margin, 11.8% SG&A and 6.3% net income before taxes across all respondents, with a best-in-class top quartile at 11.9% net income before taxes.
- 2025 Construction Financial Benchmarker, Construction Financial Management Association, 2025. 6.7% net income before taxes (6.3% in 2023), a 7.1% EBIT margin and an 8.8% EBITDA margin at the median, with interest coverage of 30.4 times, across the 1,558 companies in the 2025 analysis (fiscal year 2024 results).
- 2025 Performance Benchmarks, Construction Companies, Jones Maresca and Company, 2025. Specialty contractor gross margin of 15% to 25%, net profit of 5% to 8% for a well managed company, and total indirect cost of 8% to 15%.
All 48 trades are available as JSON and CSV, one plain-language statement per row, free to use with attribution under CC BY 4.0.
WHY IT IS NOT ONE NUMBER.
A single target across every trade and every size is the reason most benchmark tables are useless. A framing contractor at $2M and an electrical contractor at $18M don't run the same overhead, don't bid the same way, and can't reach the same margin by the same route.
The CFOS target is set a point leaner than your trade's average at your revenue.
The CFOS target is set at 10 percent before taxes or 3.5 points better than your trade's average at your revenue, whichever is higher, and it's stated before taxes.
The CFOS target is set at whatever gross margin produces that net profit once your overhead is paid, and never below your trade's own average. The three tie out: the gross margin target minus the overhead target equals the net profit target on every row of the table.
FLAT MONTHLY FEE. NO SURPRISES.
Three tiers, priced by your trailing twelve month revenue. Which one you're in depends on how much of the work you want off your desk. No hourly billing and no payroll.
| Last 12 months revenue | Monthly fee | One-time onboarding |
|---|---|---|
| Up to $1M | $1,900 to $2,900 | $1,000 |
| $1M to $3.5M | $2,600 to $3,900 | $1,500 |
| $3.5M to $6.5M | $3,800 to $5,700 | $3,000 |
| $6.5M to $9.5M | $5,100 to $7,100 | $4,500 |
| $9.5M to $12.5M | $6,100 to $8,500 | $6,000 |
| $12.5M to $15.5M | $7,400 to $11,000 | $7,500 |
| $15.5M to $18.5M | $9,400 to $13,500 | $9,000 |
| $18.5M+ | Quoted individually | Quoted individually |
The onboarding fee covers migrating your books back to the start of your last taxable year and getting you fully operational in 60 days. It's billed once, with your first invoice. It's the same for all three tiers. Your first month is prorated, and your monthly engagement starts on the first of the first full month.
Range reflects the three tiers below. Which one you're in depends on how much of the work you want off your desk. No payroll. No hidden line items. The onboarding fee is right here in the table.
You stop guessing.
You get the CFO work. Job costing built against the way you estimate, a 13 week cash forecast, monthly WIP, and a meeting every month that ends in decisions and never in a report.
Your bookkeeper still does the books.
You stop touching the books.
Everything in Core, and we do the bookkeeping and the controllership as well. Your office stops answering coding questions and stops fixing a reconciliation that will not balance on the last day of the month.
We do the books. No payroll.
Every job shows its margin while it is still open.
Everything in Executive, plus the job costing and WIP platform set up, loaded with your cost codes, and managed for you every month. You never have to learn it.
We do the books, the job costing, and the software. No payroll.
FREQUENTLY ASKED.
