GRANITE CONSTRUCTION INC GVA

Industrials SIC 1600 - Heavy Construction Other Than Bldg Const - Contractors NAICS Construction › Heavy and Civil Engineering Construction derived NYSE

Granite Construction Company was incorporated in 1922. In 1990, Granite Construction Incorporated was formed as the holding company for Granite Construction Company and its wholly-owned and consolidated subsidiaries and was incorporated in Delaware. Unless otherwise indicated, the terms "we," "us," "our," "Company" and "Granite" refer to Granite Construction Incorporated and its wholly-owned and consolidated subsidiaries.

We deliver infrastructure solutions for public and private clients primarily in the United States. We are one of the largest diversified, vertically integrated civil contractors and construction materials producers in the United States. Within the public sector, we primarily concentrate on infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, dams, power-related facilities, utilities, tunnels, water well drilling and other infrastructure-related projects. Within the private sector, we perform various services such as site preparation, mining services and infrastructure services for commercial and industrial sites, railways, residential development, energy development, as well as provide construction management professional services. We own and lease aggregate reserves, and we own processing plants that are vertically integrated into our construction operations. We also produce construction materials for sale to third parties.

Last close 106.45 2026-10-23
Market cap $4.66B 2026-06-30 share count
52-week range 97.26 - 162.08

Valuation FY2025 figures against the last close

P/S1.1x
P/E27.6x
P/FCF14.1x
EV/EBITDA12.1x
Dividend yield0.5%
Diluted EPS3.86

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Construction
  • Materials
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Construction, FY2025: 3.7B (82.6%) 83% Construction Materials, FY2025: 769.5M (17.4%) 17% Materials FY2024 Construction, FY2024: 3.4B (85.2%) 85% Materials, FY2024: 592.3M (14.8%) 15% FY2023 Construction, FY2023: 3B (85.3%) 85% Materials, FY2023: 516.9M (14.7%) 15%
Segment FY2025FY2024FY2023
Construction $3.65B $3.42B $2.99B
Materials $769.5M $592.3M $516.9M

As the company reported it, from the “Reportable Segment Information - Segment Reporting Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.42B$4.01B$3.51B$3.30B$3.50B$3.56B$2.91B$3.29B$2.96B$2.51B
Cost of revenue $3.71B$3.43B$3.11B$2.93B$3.14B$3.22B$2.73B$2.95B$2.68B$2.21B
Gross profit $711.2M$572.7M$396.4M$369.5M$362.6M$344.8M$189.8M$334.8M$278.7M$301.4M
SG&A $407.6M$334.2M$294.5M$272.6M$303.0M$316.3M$238.1M$272.8M$220.4M$217.4M
Operating income $282.4M$207.4M$80.1M$85.4M$24.7M-$158.3M-$41.7M$8.2M$62.5M$92.4M
Interest expense $47.2M$29.2M$18.5M$12.6M$20.7M$24.2M$18.1M$14.6M$10.8M$12.4M
Pre-tax income $288.8M$196.2M$59.9M$91.8M$22.1M-$166.5M-$40.2M$8.3M$68.3M$96.4M
Income tax $68.5M$55.7M$30.3M$13.0M$19.7M$282.0K$12.3M$3.2M$25.8M$30.2M
Net income $193.0M$126.3M$43.6M$83.3M$10.1M-$145.1M-$60.2M$582.0K$34.1M$57.1M
EPS, basic 4.422.880.991.870.22-3.18-1.290.010.861.44
EPS, diluted 3.862.620.971.700.21-3.18-1.290.010.841.42
Shares, diluted (wtd. avg.) 53.1M52.5M52.6M52.3M47.6M45.6M46.6M44.0M40,37240.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $529.2M$578.3M$417.7M$294.0M$395.6M$425.3M$252.3M$272.8M$233.7M$189.3M
Short-term investments $71.0M$7.3M$35.9M$39.4M$0———$67.8M$64.9M
Receivables $630.4M$511.7M$598.7M$464.0M$464.6M$437.6M$547.4M$497.8M$335.3M—
Inventory $143.1M$108.2M$103.9M$86.8M$62.0M$62.5M$88.9M$96.0M$71.3M$55.2M
Total current assets $1.81B$1.72B$1.64B$1.35B$1.83B$1.46B$1.38B$1.32B$1.05B$1.09B
Property, plant and equipment $1.26B$716.2M$662.9M$509.2M$433.5M$421.1M$542.3M$598.9M$409.7M$406.6M
Goodwill $400.8M$214.5M$155.0M$73.7M$53.7M$53.7M$264.3M$254.1M$53.8M$53.8M
Other intangibles $179.5M$127.9M$117.3M$9.2M$9.5M$10.6M$47.1M$65.7M$16.2M$17.9M
Total assets $4.03B$3.03B$2.81B$2.17B$2.49B$2.38B$2.50B$2.53B$1.72B$1.73B
Accounts payable $430.3M$407.2M$408.4M$334.4M$324.3M$321.3M$400.8M$303.9M$227.1M$199.0M
Short-term debt $375.9M$1.1M$39.9M$1.4M$8.7M$8.3M$8.2M$208.0M$47.3M$14.8M
Total current liabilities $1.48B$1.03B$1.03B$797.6M$1.07B$943.3M$842.1M$931.3M$614.1M$529.9M
Long-term debt $963.2M$737.9M$614.8M$286.9M$331.2M$330.5M$356.1M$280.7M$176.0M$229.5M
Retained earnings $774.6M$604.6M$501.8M$481.4M$410.8M$424.8M$594.4M$676.6M$676.7M$735.6M
Total equity $1.18B$1.02B$1.03B$985.1M$995.6M$991.6M$1.18B$1.29B$921.1M$884.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $468.9M$456.3M$183.7M$55.6M$21.9M$268.5M$111.4M$86.4M$146.2M$73.1M
Depreciation and amortisation $162.4M$126.3M$92.3M$82.6M$109.0M$113.0M$122.0M$111.5M$66.3M$64.4M
Stock-based compensation $39.1M$19.6M$10.5M$7.8M$6.4M$6.4M$10.2M$14.8M$15.8M$13.4M
Capital expenditure $138.3M$136.4M$140.4M$121.6M$94.8M$93.3M$106.8M$111.1M$67.7M$91.0M
Investing cash flow -$993.7M-$228.6M-$359.3M-$11.0M-$21.5M-$41.3M-$40.3M-$39.6M-$59.2M-$96.4M
Financing cash flow $475.7M-$67.1M$299.3M-$164.3M-$24.4M-$57.7M-$81.6M-$1.9M-$42.6M-$40.3M
Dividends paid $22.7M$22.8M$22.8M$23.3M$23.8M$23.7M$24.3M$22.4M$20.7M$20.6M
Buybacks $48.2M$50.6M$4.1M$70.9M$2.7M$885.0K$36.9M$16.6M$7.0M$5.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000861459-26-000012.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 2.5B Gross profit, FY2016: 301.4M Net income, FY2016: 57.1M Revenue, FY2017: 3B Gross profit, FY2017: 278.7M Net income, FY2017: 34.1M Revenue, FY2018: 3.3B Gross profit, FY2018: 334.8M Net income, FY2018: 582K Revenue, FY2019: 2.9B Gross profit, FY2019: 189.8M Net income, FY2019: -60.2M Revenue, FY2020: 3.6B Gross profit, FY2020: 344.8M Net income, FY2020: -145.1M Revenue, FY2021: 3.5B Gross profit, FY2021: 362.6M Net income, FY2021: 10.1M Revenue, FY2022: 3.3B Gross profit, FY2022: 369.5M Net income, FY2022: 83.3M Revenue, FY2023: 3.5B Gross profit, FY2023: 396.4M Net income, FY2023: 43.6M Revenue, FY2024: 4B Gross profit, FY2024: 572.7M Net income, FY2024: 126.3M Revenue, FY2025: 4.4B Gross profit, FY2025: 711.2M Net income, FY2025: 193M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.51B $2.96B $3.29B $2.91B $3.56B $3.50B $3.30B $3.51B $4.01B $4.42B
Gross profit $301.4M $278.7M $334.8M $189.8M $344.8M $362.6M $369.5M $396.4M $572.7M $711.2M
Net income $57.1M $34.1M $582.0K -$60.2M -$145.1M $10.1M $83.3M $43.6M $126.3M $193.0M

Recent filings and events

  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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