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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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Market cap: $5.0B
P/E: 0.0×
Fwd P/E: 26.2×
Dividend yield: 0.46%
F-score: 6/9
Altman Z: 2.77
Beneish M: −2.54
Dividend safety: 82/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.16

Total sells 9.71

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	1	—	1	—	—
Sell	2	—	—	—	5	—	—	2	—	—	—	—

Insider Ownership 0.78%

Capital & Financial Ratios $m

Market Cap 4,980.00

Revenue 4,967.21

Net Income (139.64)

Free Cash Flow 507.45

Net Debt 644.68

Current Ratio 1.01

Debt/Equity 1.94

P/E ratio 0.00

Fwd P/E 26.20

P/S ratio 0.99

P/B ratio 6.11

Past 5Y EPS Growth —

This Y EPS Growth (201.73%)

Next Y EPS Growth 290.30%

Next Y revenue growth 22.01%

Next 5Y EPS Growth 28.63%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 86.60%

10-year low 10-year high

P/B against its own 10 years 97.27%

10-year low 10-year high

EV/Sales against its own 10 years 87.78%

10-year low 10-year high

EV/FCF against its own 10 years 19.81%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.52

Annual Dividend Yield 0.46%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.52	0.13 0.13 0.13
2025	0.52	0.13 0.13 0.13 0.13
2024	0.52	0.13 0.13 0.13 0.13
2023	0.52	0.13 0.13 0.13 0.13
2022	0.52	0.13 0.13 0.13 0.13
2021	0.52	0.13 0.13 0.13 0.13
2020	0.52	0.13 0.13 0.13 0.13
2019	0.52	0.13 0.13 0.13 0.13
2018	0.52	0.13 0.13 0.13 0.13
2017	0.52	0.13 0.13 0.13 0.13
2016	0.52	0.13 0.13 0.13 0.13

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	454	586	600	914
Receivables	599	512	630	887
Inventory	104	108	143	182
Other	487	511	438	467
	1,643	1,717	1,812	2,450

	2023	2024	2025	Q'26
Payables	408	407	430	608
ST’ Debt	40	1	376	381
Other	244	300	327	1,071
	1,030	1,032	1,482	2,419

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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	912	1,456	—	—	—
’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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.96)	(6.36)	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	35.69	45.14	38.55	22.55	8.90	25.88	25.35	33.74	43.92	69.08	Analyst estimates 2026–2028 Powerpack
	High	62.18	67.40	68.58	49.03	28.68	44.31	40.46	52.24	105.20	119.74
People
People	Employees	3,400	3,600	5,700	5,600	5,400	3,300	3,800	2,100	2,300	2,500
	Revenue/emp, $m	0.74	0.82	0.58	0.52	0.66	1.06	0.87	1.67	1.74	1.77
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
	Gross margin, %	11.98	9.42	10.19	6.51	9.68	10.36	11.19	11.30	14.29	16.07
	EBT	96	68	8	(40)	(166)	22	92	60	196	289
	EBT margin, %	3.83	2.31	0.25	(1.38)	(4.67)	0.63	2.78	1.71	4.90	6.53
	Net income	66	42	12	(57)	(166)	2	79	30	140	220
	Depreciation	64	66	112	123	122	118	85	95	131	167
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
	Earnings	1.44	1.07	0.97	(1.29)	(3.18)	0.22	1.87	0.99	2.88	4.42
	Cash flow	1.85	3.67	1.98	2.39	5.89	0.48	1.25	4.19	10.41	10.74
	Capex	(1.97)	(1.44)	(2.18)	(1.50)	(1.68)	0.00	(2.15)	(2.33)	(2.80)	(2.42)
	Free cash flow	(0.12)	2.23	(0.19)	0.90	4.21	0.48	(0.90)	1.86	7.61	8.33
	Book value	23.32	24.95	29.60	25.31	21.74	21.74	22.15	23.40	24.62	27.99
	Shares, m	40	40	44	47	46	46	44	44	44	44
Valuation, ×
Valuation, ×	P/E	38.58	37.21	453.09	0.00	0.00	184.29	17.42	51.40	30.24	26.16
	P/S	0.87	0.86	0.53	0.44	0.34	0.51	0.47	0.63	0.96	1.14
	P/B	2.37	2.57	1.36	1.09	1.23	1.78	1.58	2.15	3.56	4.12
	EV/Sales	0.86	0.83	0.56	0.47	0.32	0.49	0.46	0.69	1.00	1.31
	EV/FCF	(445.36)	27.84	(216.49)	32.67	5.90	78.29	(37.93)	29.61	11.98	15.88
Cash, $m
Cash, $m	Operating cash flow	73	146	86	111	268	22	56	184	456	469
	Capex	(78)	(57)	(95)	(70)	(77)	0	(96)	(102)	(123)	(105)
	Free cash flow	(5)	89	(8)	42	192	22	(40)	81	334	363
Balance, $m
Balance, $m	Working capital	559	577	603	535	512	758	550	614	685	330
	Total debt	244	225	382	364	339	340	288	655	739	1,339
	Net debt	(10)	(77)	80	74	(86)	(56)	(45)	201	153	739
	Shareholders’ equity	923	993	1,289	1,178	992	996	985	1,027	1,079	1,222
Returns, %
Returns, %	ROA	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
	ROE	6.37	3.56	0.05	(4.88)	(13.37)	1.02	8.41	4.33	12.00	16.78

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ECG Everus Construction Group, Inc.	$6.2B	24.7×	—	+33.65% (above 0%: growing)	+57.69% (above 0%: growing)	+140.72% (above 0%: growing)	14.85%	9.08%	Compare
AGX Argan, Inc.	$5.6B	30.5×	58.0×	+61.51% (above 0%: growing)	+47.86% (above 0%: growing)	+178.70% (above 0%: growing)	19.33%	14.79%	Compare
LGN Legence Corp.	$5.6B	— (loss-making)	13.0×	+110.74% (above 0%: growing)	n/m	+106.83% (above 0%: growing)	17.45%	(0.52%)	Compare
ROAD Construction Partners, Inc.	$5.0B	33.8×	38.5×	+28.25% (above 0%: growing)	+33.75% (above 0%: growing)	−19.66% (below 0%: shrinking)	16.85%	10.94%	Compare
GVA Granite Construction Incorporated	$5.0B	— (loss-making)	26.2×	+29.30% (above 0%: growing)	n/m	+755.66% (above 0%: growing)	16.40%	8.71%
MYRG MYR Group, Inc.	$4.8B	29.3×	39.8×	+20.15% (above 0%: growing)	+88.24% (above 0%: growing)	−283.31% (below 0%: shrinking)	13.19%	6.28%	Compare
PRIM Primoris Services Corporation	$4.5B	32.4×	30.5×	−10.71% (below 0%: shrinking)	n/m	−149.14% (below 0%: shrinking)	4.88%	(1.59%)	Compare
KBR KBR, Inc.	$4.4B	10.6×	9.6×	+1.64% (above 0%: growing)	+33.93% (above 0%: growing)	−83.25% (below 0%: shrinking)	14.77%	8.67%	Compare
TPC Tutor Perini Corporation	$4.4B	35.3×	19.8×	+19.17% (above 0%: growing)	+228.95% (above 0%: growing)	−35.14% (below 0%: shrinking)	12.91%	7.19%	Compare
Median of peers	$4.9B	30.5×	30.5×	+24.20%	+52.77%	−27.40%	14.81%	7.93%

All 51 Engineering & Construction stocks →

Granite Construction Incorporated (GVA) key facts

Strength: Granite Construction Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $4.4 billion, up 10.4% from fiscal 2024.
Granite Construction Incorporated (GVA) is an Engineering & Construction company in the Industrials sector, listed on the New York Stock Exchange.
As of October 9, 2026, GVA traded at $112.50, a market capitalization of $5.0 billion.
Granite Construction Incorporated pays an annual dividend of $0.52 per share, a yield of 0.46%.
Return on equity was 16.8% and debt-to-equity 1.94.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.77 (grey zone) for fiscal 2025.