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Granite Construction Incorporated

GVA Industrials Engineering & Construction

Granite Construction Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $4.4 billion, up 10.4% from fiscal 2024.

Revenue
+23.2%
EPS
−97.0%
Free cash flow
−9.92%
Total debt
+16.3%

Quarter to September 2026, against a year earlier

121.19 11.20 −8.46%
Market cap
$5.3B
P/E
0.0×
Fwd P/E
−16.8×
Dividend yield
0.43%
F-score
6/9
Altman Z
2.77
Beneish M
−2.54
Dividend safety
82/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.16
Sold, $m 8.76
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — 1 — — —
Sell — — — 5 — — 2 — — — — —
Insider Ownership 0.52%

Capital & Financial Ratios $m

Size
Market Cap 5,340.00
Revenue ttm 5,300.04
Net income ttm (238.65)
Free cash flow ttm 481.66
Net debt Q 1,043.65
Valuation
P/E 0.00
Forward P/E (16.80) (negative: loss-making)
Price / sales 1.01
Forward P/S Powerpack
Price / FCF 11.08
Price / book 5.35
Financial health
Current ratio Q 1.11
Debt / equity Q 1.56
Interest coverage Q 0.77
Growth
Revenue growth Q +23.22% (above 0%: growing)
Operating income growth Q +56.17% (above 0%: growing)
EPS, this year −254.40% (below 0%: weak)
EPS, next year A +225.86% (at or above 15%: strong)
Revenue, next year A +23.84% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +32.78% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 0.7×; over the ten years it ranged from 0.3× in 2020 to 1.5× in 2026.
P/S against its own 10 years 87.53%
10-year low 10-year high
P/B against its own 10 years 96.11%
10-year low 10-year high
EV/Sales against its own 10 years 89.62%
10-year low 10-year high
EV/FCF against its own 10 years 31.17%
10-year low 10-year high

Dividends

Yield
0.43%
Annual rate
0.52
Payout ratio
—
Growth, 2017–25
0.00%/yr
  1. 0.52 ’17
  2. 0.52 ’18 +0
  3. 0.52 ’19 +0
  4. 0.52 ’20 +0
  5. 0.52 ’21 +0
  6. 0.52 ’22 +0
  7. 0.52 ’23 +0
  8. 0.52 ’24 +0
  9. 0.52 ’25 +0
  10. 0.52 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 454 586 600 512
Receivables 599 512 630 953
Inventory 104 108 143 181
Other 487 511 438 476
1,643 1,717 1,812 2,123
2023 2024 2025 Q'26
Payables 408 407 430 640
ST’ Debt 40 1 376 382
Other 244 300 327 465
1,030 1,032 1,482 1,906

Compound Annual Growth %

10y 5y 3y
Sales 6.44% 4.43% 10.25%
Cash Flow 21.48% 11.80% 103.49%
Earnings 12.30% 0.00% 32.32%
Book Value 3.45% 4.26% 7.43%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 3.22 Actual 3.81

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 2.56 2.70 Beat by 0.14
Q4 FY25 1.34 1.40 Beat by 0.06
Q2 FY26 2.28 2.16 Miss by 0.12
Q3 FY26 3.22 3.81 Beat by 0.59
Q4 FY26 1.51 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.96) (6.36) 0.07 — —
’25 (0.77) 1.42 1.98 1.03 3.86
’24 (0.70) 0.76 1.57 0.84 2.62
’23 (0.53) (0.39) 1.13 0.55 0.97
’22 (0.55) 0.39 1.44 0.46 1.70
’21 (1.45) 1.14 0.73 (0.28) 0.22
’20 (1.44) 0.07 (2.00) 0.17 (3.18)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 912 1,456 1,766 — —
’25 700 1,126 1,433 1,165 4,424
’24 672 1,082 1,276 977 4,008
’23 560 899 1,117 934 3,509
’22 654 849 1,009 789 3,301
’21 566 835 1,062 1,039 3,502
’20 636 916 1,065 946 3,562
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (31) 172 263 — —
’25 4 2 284 179 469
’24 24 (2) 261 173 456
’23 (77) (42) 153 150 184
’22 (50) (53) 89 70 56
’21 38 (69) 91 (38) 22
’20 (20) 33 126 130 268
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (48) 145 234 — —
’25 (25) (22) 260 151 363
’24 (1) (39) 223 152 334
’23 (113) (75) 128 142 81
’22 64 (82) (73) 51 (40)
’21 22 (51) 74 (23) 22
’20 (38) 5 109 116 192
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,515 2,958 3,287 2,915 3,562 3,502 3,301 3,509 4,008 4,424 5,300 +6.5% 5,479 5,963 6,535 +13.9%
Gross margin, % 11.98 9.42 10.19 6.51 9.68 10.36 11.19 11.30 14.29 16.07 16.08 +4.1 pt
EBT 96 68 8 (40) (166) 22 92 60 196 289 (147) +13.0%
EBT margin, % 3.83 2.31 0.25 (1.38) (4.67) 0.63 2.78 1.71 4.90 6.53 (2.77) +2.7 pt
Net income 66 42 12 (57) (166) 2 79 30 140 220 (239) +14.3%
Per share, $
Per share, $ Revenue 63.57 74.34 75.45 62.61 78.10 76.48 74.21 79.97 91.40 101.36 120.41 +5.3%
Earnings 1.44 0.86 0.97 (1.29) (3.18) 0.22 1.87 0.99 2.88 4.42 (6.06) +13.3%
Cash flow 1.85 3.67 1.98 2.39 5.89 0.48 1.25 4.19 10.41 10.74 13.26 +21.6%
Capex (1.97) (1.44) (2.18) (1.50) (1.68) 0.00 (2.15) (2.33) (2.80) (2.42) (2.32) +2.3%
Free cash flow (0.12) 2.23 (0.19) 0.90 4.21 0.48 (0.90) 1.86 7.61 8.33 10.94 n/m
Book value 23.32 24.95 29.60 25.31 21.74 21.74 22.15 23.40 24.62 27.99 22.64 +2.0%
Shares, m 40 40 44 47 46 46 44 44 44 44 44 +1.1%
Valuation, ×
Valuation, × P/E 38.58 37.21 453.09 0.00 0.00 184.29 17.42 51.40 30.24 26.16 0.00 83.8
P/S 0.87 0.86 0.53 0.44 0.34 0.51 0.47 0.63 0.96 1.14 1.01 0.7
P/B 2.37 2.57 1.36 1.09 1.23 1.78 1.58 2.15 3.56 4.12 5.35 2.2
EV/Sales 0.86 0.83 0.56 0.47 0.32 0.49 0.46 0.69 1.00 1.31 1.20 0.7
EV/FCF (445.36) 27.84 (216.49) 32.67 5.90 78.29 (37.93) 29.61 11.98 15.88 13.24 (49.8)
Cash, $m
Cash, $m Operating cash flow 73 146 86 111 268 22 56 184 456 469 584 +22.9%
Capex (78) (57) (95) (70) (77) 0 (96) (102) (123) (105) (102) +3.4%
Free cash flow (5) 89 (8) 42 192 22 (40) 81 334 363 482 n/m
Balance, $m
Balance, $m Working capital 559 577 603 535 512 758 550 614 685 330 217 (5.7%)
Net debt (10) (77) 80 74 (86) (56) (45) 201 153 739 1,044 n/m
Shareholders’ equity 923 993 1,289 1,178 992 996 985 1,027 1,079 1,222 997 +3.2%
Returns, %
Returns, % ROA 3.40 1.89 0.03 (2.44) (5.94) 0.41 3.57 1.75 4.33 5.47 (6.14) +2.1 pt
ROIC 6.32 4.27 0.38 (2.08) (10.93) 1.64 5.68 4.07 10.51 9.00 12.10 +2.7 pt
ROE 6.37 3.56 0.05 (4.88) (13.37) 1.02 8.41 4.33 12.00 16.78 (24.04) +10.4 pt
People
People Employees 3,400 3,600 5,700 5,600 5,400 3,300 3,800 2,100 2,300 2,500 — (3.4%)
Revenue/emp, $m 0.74 0.82 0.58 0.52 0.66 1.06 0.87 1.67 1.74 1.77 — +10.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Granite Construction Incorporated vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FLR Fluor Corporation $6.0B — (loss-making) 13.2× +8.82% (above 0%: growing) −94.46% (below 0%: shrinking) −825.71% (below 0%: shrinking) 4.13% 3.12% Compare
IESC IES Holdings, Inc. $5.9B 12.8× 17.8× +39.60% (above 0%: growing) +98.70% (above 0%: growing) −14.63% (below 0%: shrinking) 27.41% 14.37% Compare
DY Dycom Industries, Inc. $5.8B 17.4× 20.0× +45.57% (above 0%: growing) +13.95% (above 0%: growing) +106.51% (above 0%: growing) 21.96% 9.57% Compare
GVA Granite Construction Incorporated $5.3B — (loss-making) — (loss-making) +23.22% (above 0%: growing) −97.02% (below 0%: shrinking) −9.92% (below 0%: shrinking) 19.01% 12.70%
KBR KBR, Inc. $4.8B 10.8× 11.0× +5.02% (above 0%: growing) +19.93% (above 0%: growing) −14.21% (below 0%: shrinking) 14.84% 9.17% Compare
ROAD Construction Partners, Inc. $4.4B 30.2× 31.2× +28.25% (above 0%: growing) +33.75% (above 0%: growing) −19.66% (below 0%: shrinking) 16.85% 10.94% Compare
TPC Tutor Perini Corporation $4.3B 30.5× 20.2× +21.54% (above 0%: growing) +457.14% (above 0%: growing) +21.22% (above 0%: growing) 12.87% 7.29% Compare
EXPO Exponent, Inc. $4.1B 36.8× 34.0× +18.09% (above 0%: growing) +16.89% (above 0%: growing) −14.24% (below 0%: shrinking) 88.10% 24.10% Compare
MYRG MYR Group, Inc. $3.8B 19.9× 21.2× +32.47% (above 0%: growing) +86.07% (above 0%: growing) −84.04% (below 0%: shrinking) 13.60% 6.76% Compare
Median of peers $4.6B 19.9× 20.1× +24.90% +26.84% −14.43% 15.85% 9.37%

All 51 Engineering & Construction stocks →

Pay and ownership Proxy statement filed 23 April 2026

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc.50 Hudson YardsNew York, NY 15.30%
The Vanguard Group100 Vanguard Blvd.Malvern, PA 11.30%
FMR LLC 10.60%
State Street Corporation State Street Financial Center 6.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Granite Construction Incorporated (GVA) Latest News

31 Oct

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3 Aug

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GVA metrics, ten years each

stockrow.com/GVA · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com