Saturday 10 October 2026
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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. In the quarter to June 2026, revenue grew 29.3%, EPS fell 487.8%, free cash flow grew 755.7% and total debt rose 110.5%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.
112.50
1.33
−1.17%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
38.58 | 37.21 | 453.09 | 0.00 | 0.00 | 184.29 | 17.42 | 51.40 | 30.24 | 26.16 |
Piotroski F-Score |
5 | 5 | 4 | 3 | 6 | 6 | 6 | 5 | 7 | 6 |
P/S ratio |
0.87 | 0.86 | 0.53 | 0.44 | 0.34 | 0.51 | 0.47 | 0.63 | 0.96 | 1.14 |
Altman Z-Score |
4.22 | 4.37 | 2.98 | 2.28 | 2.31 | 2.74 | 3.06 | 2.60 | 3.29 | 2.77 |
Altman Z″-Score (non-manufacturers) |
5.05 | 4.80 | 3.76 | 3.00 | 2.30 | 3.29 | 3.53 | 2.81 | 3.18 | 2.09 |
P/FCF ratio |
0.00 | 28.71 | 0.00 | 30.89 | 6.35 | 80.83 | 0.00 | 27.14 | 11.52 | 13.85 |
Beneish M-Score |
(2.32) | (2.49) | (2.37) | (2.31) | (3.74) | (2.72) | (2.15) | (2.43) | (3.17) | (2.54) |
P/Operating CF |
23.58 | 31.22 | 24.49 | 9.34 | 9.39 | (46.64) | 22.17 | 14.78 | 22.26 | 28.08 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 82 |
P/B ratio |
2.37 | 2.57 | 1.36 | 1.09 | 1.23 | 1.78 | 1.58 | 2.15 | 3.56 | 4.12 |
Price to Tangible BV |
2.51 | 2.71 | 1.70 | 1.41 | 1.30 | 1.88 | 1.71 | 2.93 | 5.22 | 7.85 |
EV/Sales |
0.86 | 0.83 | 0.56 | 0.47 | 0.32 | 0.49 | 0.46 | 0.69 | 1.00 | 1.31 |
EV/EBITDA |
13.86 | 19.17 | 15.32 | 16.68 | 0.00 | 11.98 | 8.89 | 13.80 | 11.83 | 12.85 |
EV/Operating CF |
29.70 | 16.89 | 21.23 | 12.23 | 4.22 | 78.26 | 27.20 | 13.13 | 8.76 | 12.31 |
EV/FCF |
(445.36) | 27.84 | (216.49) | 32.67 | 5.90 | 78.29 | (37.93) | 29.61 | 11.98 | 15.88 |
Quick Ratio |
1.27 | 1.19 | 1.07 | 0.99 | 0.91 | 0.80 | 1.00 | 1.02 | 1.06 | 0.83 |
Current Ratio |
2.06 | 1.88 | 1.82 | 1.64 | 1.54 | 1.71 | 1.69 | 1.60 | 1.66 | 1.22 |
Net Debt/EBITDA |
(0.06) | (0.60) | 0.66 | 0.91 | 2.36 | (0.39) | (0.26) | 1.15 | 0.45 | 1.64 |
Debt/Assets |
14.09% | 11.99% | 15.76% | 14.56% | 14.24% | 13.62% | 13.30% | 23.27% | 24.43% | 33.23% |
Debt/Equity |
0.26 | 0.23 | 0.30 | 0.31 | 0.34 | 0.34 | 0.29 | 0.64 | 0.68 | 1.10 |
Asset Turnover |
1.50 | 1.64 | 1.53 | 1.18 | 1.46 | 1.44 | 1.42 | 1.41 | 1.37 | 1.25 |
Operating CF/Net income |
1.28 | 4.29 | 148.44 | (1.85) | (1.85) | 2.17 | 0.67 | 4.21 | 3.61 | 2.43 |
Capex/Depreciation |
(1.21) | (0.87) | (0.85) | (0.56) | (0.63) | 0.00 | (1.12) | (1.08) | (0.94) | (0.63) |
Interest Coverage |
7.47 | 5.79 | 0.56 | (2.31) | (6.54) | 1.19 | 6.76 | 4.34 | 7.10 | 5.98 |
| 6.37% | 3.56% | 0.05% | (4.88%) | (13.37%) | 1.02% | 8.41% | 4.33% | 12.00% | 16.78% | |
| 3.40% | 1.89% | 0.03% | (2.44%) | (5.94%) | 0.41% | 3.57% | 1.75% | 4.33% | 5.47% | |
ROIC |
6.32% | 4.27% | 0.38% | (2.08%) | (10.93%) | 1.64% | 5.68% | 4.07% | 10.51% | 9.00% |
Return on Tangible Assets |
5.92% | 3.47% | 0.05% | (5.59%) | (15.55%) | 0.85% | 7.87% | 3.42% | 9.02% | 12.13% |
Average Days of Receivables |
60.87 | 59.20 | 53.83 | 68.55 | 44.83 | 48.42 | 51.30 | 62.27 | 46.61 | 52.01 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
8.64% | 7.45% | 8.30% | 8.17% | 8.88% | 8.65% | 8.26% | 8.39% | 8.34% | 9.21% |
Intangible Assets out of Total Assets |
0.03 | 0.03 | 0.11 | 0.11 | 0.02 | 0.02 | 0.03 | 0.10 | 0.11 | 0.14 |
Share Based Compensation of Revenue |
0.53% | 0.53% | 0.45% | 0.35% | 0.18% | 0.18% | 0.24% | 0.30% | 0.49% | 0.88% |
Graham Net Nets |
0.13 | 0.14 | 0.12 | 0.04 | 0.05 | 0.19 | 0.11 | (0.06) | (0.06) | (0.20) |
Graham Number |
27.39 | 31.07 | 7.69 | 0.00 | 0.00 | 10.14 | 31.66 | 22.72 | 40.08 | 52.70 |
Earnings Yield |
2.59% | 2.69% | 0.22% | (4.40%) | (11.94%) | 0.54% | 5.74% | 1.95% | 3.31% | 3.82% |
Free Cash Flow Yield |
(0.22%) | 3.48% | (0.48%) | 3.24% | 15.75% | 1.24% | (2.56%) | 3.68% | 8.68% | 7.22% |
Revenue per Share |
63.57 | 74.34 | 75.45 | 62.61 | 78.10 | 76.48 | 74.21 | 79.97 | 91.40 | 101.36 |
Operating CF per Share |
1.85 | 3.67 | 1.98 | 2.39 | 5.89 | 0.48 | 1.25 | 4.19 | 10.41 | 10.74 |
Capex per Share |
(1.97) | (1.44) | (2.18) | (1.50) | (1.68) | 0.00 | (2.15) | (2.33) | (2.80) | (2.42) |
Free Cash Flow per Share |
(0.12) | 2.23 | (0.19) | 0.90 | 4.21 | 0.48 | (0.90) | 1.86 | 7.61 | 8.33 |
Cash per Share |
6.43 | 7.58 | 6.95 | 6.23 | 9.32 | 8.64 | 7.49 | 10.34 | 13.36 | 13.75 |
Shareholders Equity per Share |
23.32 | 24.95 | 29.60 | 25.31 | 21.74 | 21.74 | 22.15 | 23.40 | 24.62 | 27.99 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
23.32 | 24.95 | 29.60 | 25.31 | 21.74 | 21.74 | 22.15 | 23.40 | 24.62 | 27.99 |
Free Cash Flow |
(4.88) | 88.70 | (8.47) | 41.70 | 191.91 | 21.92 | (39.90) | 81.43 | 333.79 | 363.49 |
Working Capital |
559.06 | 576.80 | 603.07 | 534.89 | 511.99 | 758.08 | 549.70 | 613.57 | 684.70 | 330.49 |
Capital Expenditures |
(78.02) | (57.49) | (94.86) | (69.74) | (76.55) | (0.01) | (95.55) | (102.27) | (122.55) | (105.42) |
Net Current Asset Value |
278.13 | 352.91 | 202.71 | 53.27 | 66.86 | 328.04 | 164.51 | (143.12) | (229.63) | (996.63) |
EV/EBIT |
23.52 | 39.50 | 223.26 | 0.00 | 0.00 | 69.43 | 17.72 | 30.12 | 19.29 | 20.44 |
Capex to Sales |
0.03 | 0.02 | 0.03 | 0.02 | 0.02 | 0.00 | 0.03 | 0.03 | 0.03 | 0.02 |
Price to Operating Income |
23.63 | 40.74 | 213.57 | 0.00 | 0.00 | 71.69 | 18.25 | 27.61 | 18.55 | 17.83 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.16 | 0.16 | 0.20 | 0.23 | 0.29 | 0.27 | 0.17 | 0.14 | 0.18 | 0.13 |
Cash ROIC |
(0.34%) | 5.84% | (0.43%) | 2.28% | 10.93% | 1.27% | (2.48%) | 3.81% | 13.88% | 11.50% |
Accounts Receivable Turnover |
6.62 | 6.58 | 6.82 | 5.65 | 7.23 | 7.76 | 7.11 | 6.60 | 7.22 | 7.75 |
Accounts Payable Turnover |
12.41 | 12.27 | 11.94 | 8.29 | 8.91 | 9.72 | 8.90 | 8.38 | 8.42 | 8.87 |
Inventory Turnover |
39.95 | 45.52 | 39.07 | 30.70 | 42.52 | 50.46 | 39.41 | 32.64 | 32.39 | 29.55 |
Average Days of Payables |
32.82 | 32.37 | 31.74 | 53.68 | 36.45 | 37.71 | 41.63 | 47.88 | 43.27 | 42.30 |
Days of Inventory on Hand |
9.11 | 8.51 | 10.96 | 11.91 | 7.09 | 7.20 | 10.81 | 12.18 | 11.50 | 14.07 |
Average Receivables |
380.08 | 449.57 | 482.27 | 516.09 | 492.49 | 451.07 | 464.29 | 531.35 | 555.22 | 571.07 |
Average Payables |
178.30 | 218.35 | 247.22 | 328.77 | 361.06 | 322.83 | 329.35 | 371.38 | 407.79 | 418.76 |
Average Inventory |
55.40 | 58.87 | 75.56 | 88.75 | 75.68 | 62.22 | 74.39 | 95.35 | 106.04 | 125.65 |
Average Assets |
1,680.17 | 1,802.72 | 2,149.56 | 2,464.62 | 2,441.04 | 2,437.46 | 2,331.43 | 2,490.74 | 2,919.60 | 3,528.02 |
Average Common Equity |
896.36 | 957.70 | 1,141.08 | 1,233.89 | 1,085.01 | 993.59 | 990.35 | 1,006.06 | 1,053.16 | 1,150.45 |
Columns are period end dates