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Granite Construction Inc. (GVA)

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Granite Construction Inc. (GVA) reported revenue of $1.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 29.3% on the same quarter a year earlier. Net income was -$278 million, and diluted earnings per share $-6.36. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$1.5 billionup 29.3%
Net income-$278 million
Diluted EPS$-6.36
QuarterQ2 FY2026ended 30 June 2026

Granite Construction (GVA) in brief

Granite Construction (GVA) reported revenue of $4.4 billion for fiscal 2025, the year ended 31 December 2025, up 10.4% on the year before.
Read moreNet income was $193 million and diluted earnings per share $3.86. Revenue was $4.0 billion in fiscal 2024, $3.5 billion in fiscal 2023, $3.3 billion in fiscal 2022 and $3.5 billion in fiscal 2021. Net income in the same years was $126 million, $44 million, $83 million and $10 million. Over the twelve months to 30 June 2026, Granite Construction reported revenue of $5.0 billion and net loss of $165 million. Revenue grew 4.4% a year, compounded, over the five years to fiscal 2025. Granite Construction declared $0.52 a share in dividends over the last four quarters and had 44 million shares outstanding at the latest filed count. At 30 June 2026 it carried $1.6 billion of debt and $877 million of cash. At the close of 9 October 2026 the market cap of Granite Construction was $4.9 billion.

Ratios

From the filings

ROE-21.9%
ROCE13.6%
Operating margin6.3%
Net margin-3.3%
FCF margin9.5%
Interest cover4.51
Debt to equity2.07
Cash conversionn/a
Share count, 1 year-0.0%
Sales CAGR, 3 years10.3%
Profit CAGR, 3 years32.3%
EPS, TTMn/a

At the close of 9 October 2026

Price$112.54
Market cap$4.9 billion
Stock P/En/a
Price to book6.54
EV / EBITDA11.29
Dividend yield0.5%
Market cap / sales0.99
52-week high$160.39
52-week low$98.50
Price, 1 year6.7%
Price CAGR, 3 years42.8%
Price CAGR, 5 years23.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Granite Construction Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
GVAgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on GVA

Filings23 in twelve months: 14 current reports (8-K), about 4 material agreement; 4 results of operations; 4 regulation FD disclosure; 3 unregistered sale of equity; 2 termination of a material agreement
Planned insider sales9 Form 144 notices in twelve months, $9.8 million; latest 8 June 2026
Options tapeput/call 0.15 by open interest at the 9 October 2026 close; the straddle prices a 4.7% move to 16 October 2026
13F holders8 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading16 sales and 4 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.0 million shares short, 5.45 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,1179346721,0821,2769777001,1261,4331,1659121,456
Cost of revenue9508396189181,0738276169271,1739988031,217
Gross profit16794.354.316520315183.8199261168110239
Gross margin15%10%8%15%16%15%12%18%18%14%12%16%
SG&A74.882.088.070.191.784.511685.9102104141108
Operating income73.820.6-43.385.810460.5-39.810414475.0-31.1127
Operating margin7%2%-6%8%8%6%-6%9%10%6%-3%9%
Interest expense4.96.68.15.37.97.97.87.913.418.216.321.8
Pre-tax income79.930.0-39.059.510966.2-40.110814873.8-48.5-239
Tax rate28%28%n/a35%23%29%n/a25%26%20%n/an/a
Net income57.626.0-31.036.979.041.5-33.771.710352.0-41.7-278
Net margin5%3%-5%3%6%4%-5%6%7%4%-5%-19%
Diluted EPS$1.13$0.76-$0.70$0.76$1.57n/a-$0.77$1.42$1.98n/a-$0.96-$6.36
Operating cash flow15315024.1-2.02611733.61.8284179-30.9172
Capital expenditure29.331.427.939.041.328.232.228.826.750.526.129.7
Free cash flow124118-3.8-41.0220145-28.6-27.0257129-57.0143
Buybacks0.10.27.413.70.229.215.20.16.326.618.40.2
Dividends paid5.75.75.75.75.75.75.75.75.75.75.75.7
Shares outstanding44m44m44m44m44m43m44m44m44m43m44m44m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue2,2752,3712,5152,9583,2872,9153,5623,5023,3013,5094,0084,4244,967
Cost of revenue2,0362,0682,2132,6752,9522,7253,2183,1392,9323,1133,4353,7134,190
Gross profit240300301279335190345363369396573711777
Gross margin10.5%12.6%12.0%9.4%10.2%6.5%9.7%10.4%11.2%11.3%14.3%16.1%15.6%
Selling, general and administrative193204217220273238316303273294334408455
Operating income65.111092.462.58.2-41.7-15824.785.480.1207282314
Operating margin2.9%4.7%3.7%2.1%0.2%-1.4%-4.4%0.7%2.6%2.3%5.2%6.4%6.3%
Interest expense14.214.312.410.814.618.124.220.712.618.529.247.269.6
Pre-tax income55.610396.468.38.3-40.2-16622.191.859.9196289-66.5
Income tax19.735.230.225.8-3.2-12.3-0.319.713.030.355.768.573.1
Effective tax rate35.5%34.0%31.3%37.8%-38.5%n/an/a89.1%14.1%50.6%28.4%23.7%n/a
Net income25.360.557.134.10.6-60.2-14510.183.343.6126193-165
Net margin1.1%2.6%2.3%1.2%0.0%-2.1%-4.1%0.3%2.5%1.2%3.2%4.4%-3.3%
Diluted EPS$0.64$1.52$1.42$1.71$0.01-$1.29-$3.18$0.22$1.70$0.97$2.62$3.86n/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Construction2,9923,4153,65582.6%
Materials51759276917.4%
ConstructionMaterials
3,509FY20234,008FY20244,424FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow43.167.073.114686.411126821.955.6184456469605
Capital expenditure43.444.291.067.711110793.394.8122140136138133
Free cash flow-0.322.8-17.878.5-24.74.6175-72.9-66.043.3320331472
Free cash flow margin-0.0%1.0%-0.7%2.7%-0.8%0.2%4.9%-2.1%-2.0%1.2%8.0%7.5%9.5%
Cash from investing0.8-30.7-96.4-59.2-39.6-40.3-41.3-21.5-11.0-359-229-994-901
Cash from financing-17.1-39.4-40.3-42.6-1.9-81.6-57.7-24.4-164299-67.1476851
Depreciation and amortisation68.364.364.466.311212211310982.692.3126162183
Share-based compensation11.28.813.415.814.810.26.46.47.810.519.639.148.4
Buybacks5.13.85.27.016.636.90.92.770.94.150.648.251.6
Dividends paid20.320.420.620.722.424.323.723.823.322.822.822.722.7
Dividend per share$0.52$0.52$0.52$0.52$0.52$0.52$0.52$0.52$0.52$0.52$0.52$0.52n/a
Diluted shares, weighted40m40m40m40m44m47m46m46m52m53m53m53m44m
Shares outstanding at period end39m39m40m40m47m46m46m46m44m44m43m43m44m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity7948398869451,2441,1419769689539771,0151,179753
Non-controlling interest22.730.936.647.745.636.915.927.932.149.764.142.552.6
Debt2702592442253823643393402886557391,3391,559
Operating lease liabilitiesn/an/an/an/a0.058.639.832.932.263.573.6126138
Other liabilities5134995676557559011,0101,1278621,0681,1341,3442,277
Total liabilities and equity1,6001,6281,7331,8722,4272,5022,3802,4952,1682,8143,0264,0304,779
Owned
Fixed assets4103854074075505424214345096637161,2611,304
Goodwill53.853.853.853.825926453.753.773.7155214401446
Intangible assets22.119.917.916.265.747.110.69.59.2117128180212
Investments102106128133n/an/an/a0.039.435.97.371.036.9
Securities held for sale or to maturityn/an/an/an/a66.1n/an/an/an/an/an/an/an/a
Cash and equivalents256253189234273252425396294418578529877
Receivablesn/an/an/a480485547438465464599512630887
Inventory68.955.655.262.588.688.962.562.086.8104108143182
Other assets6887558834866407609691,076692722762815834
Total assets1,6001,6281,7331,8722,4272,5022,3802,4952,1682,8143,0264,0304,779
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.4%4.4%10.3%21.8%
Profit growth, compounded12.3%n/a32.3%n/a
Return on equity, average3.3%8.6%11.1%16.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Granite Construction's revenue in fiscal 2025?

Granite Construction (GVA) reported revenue of $4.4 billion for fiscal 2025, the year ended 31 December 2025, up 10.4% on the year before.

How much did Granite Construction earn in fiscal 2025?

Net income was $193 million for fiscal 2025, and diluted earnings per share $3.86.

What is Granite Construction's market cap?

The market cap of Granite Construction was $4.9 billion at the close of 9 October 2026.

Does Granite Construction pay a dividend?

Yes. Granite Construction declared $0.52 a share in dividends over the four quarters to 30 June 2026.

How much debt does Granite Construction have?

At 30 June 2026 Granite Construction carried $1.6 billion of debt and $877 million of cash.

Peers: Construction

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Jacobs Solutions Inc. J$16.3 billion49.5210.4%4.6%20.1%1.101.0%
Sterling Infrastructure, Inc. STRL$15.7 billion36.9831.8%17.5%60.8%0.20n/a
Fluor Corp. FLR$6.9 billionn/a-74.3%-1.4%-4.8%0.4032.1%
Argan Inc. AGX$5.5 billion31.0735.4%15.4%29.0%0.000.4%
Installed Building Products, Inc. IBP$4.9 billion19.9639.2%12.4%0.3%1.661.8%
Granite Construction Inc. GVA$4.9 billionn/a-21.9%6.3%21.8%2.070.5%
Construction Partners, Inc. ROAD$4.9 billion34.0513.7%8.6%41.9%1.68n/a
MYR Group Inc. MYRG$4.9 billion29.5721.9%5.6%16.1%0.01n/a
Primoris Services Corp. PRIM$4.5 billion32.798.7%2.9%5.1%0.500.4%
Kbr, Inc. KBR$4.5 billion10.6425.9%9.6%-4.3%1.561.9%
Tutor Perini Corp. TPC$4.4 billion35.919.8%4.5%24.7%0.310.1%
GEO Group Inc. GEO$4.1 billion14.6919.2%11.2%15.4%1.000.0%
All 31 in Construction
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Quanta Services, Inc. PWR$106.0 billion80.8313.8%6.2%26.3%0.560.1%
Comfort Systems USA Inc. FIX$60.4 billion42.2044.6%16.5%46.1%0.020.1%
D.R. Horton, Inc. DHI$37.9 billion12.8312.8%n/a-3.5%0.301.3%
Emcor Group, Inc. EME$34.9 billion24.5635.3%10.4%18.9%0.000.2%
PulteGroup Inc. PHM$21.0 billion11.4514.6%n/a-7.3%0.140.8%
Lennar Corp. LEN$18.2 billion14.496.1%5.4%-8.0%0.270.3%
Mastec Inc. MTZ$17.1 billion33.9014.2%n/a23.5%0.74n/a
Jacobs Solutions Inc. J$16.3 billion49.5210.4%4.6%20.1%1.101.0%
Sterling Infrastructure, Inc. STRL$15.7 billion36.9831.8%17.5%60.8%0.20n/a
NVR Inc. NVR$15.7 billion15.3033.7%n/a-9.9%0.27n/a
Toll Brothers, Inc. TOL$12.3 billion10.6914.0%13.8%-1.1%0.320.7%
Dycom Industries Inc. DY$8.1 billion24.5016.0%7.8%37.8%1.35n/a
Fluor Corp. FLR$6.9 billionn/a-74.3%-1.4%-4.8%0.4032.1%
Everus Construction Group, Inc. ECG$6.3 billion24.6432.9%7.8%30.5%0.35n/a
IES Holdings, Inc. IESC$5.9 billion13.2237.1%12.4%22.7%0.00n/a
Argan Inc. AGX$5.5 billion31.0735.4%15.4%29.0%0.000.4%
Installed Building Products, Inc. IBP$4.9 billion19.9639.2%12.4%0.3%1.661.8%
Granite Construction Inc. GVA$4.9 billionn/a-21.9%6.3%21.8%2.070.5%
Construction Partners, Inc. ROAD$4.9 billion34.0513.7%8.6%41.9%1.68n/a
MYR Group Inc. MYRG$4.9 billion29.5721.9%5.6%16.1%0.01n/a
Primoris Services Corp. PRIM$4.5 billion32.798.7%2.9%5.1%0.500.4%
Kbr, Inc. KBR$4.5 billion10.6425.9%9.6%-4.3%1.561.9%
Tutor Perini Corp. TPC$4.4 billion35.919.8%4.5%24.7%0.310.1%
GEO Group Inc. GEO$4.1 billion14.6919.2%11.2%15.4%1.000.0%
M/I Homes, Inc. MHO$3.2 billion10.759.8%9.3%-5.0%0.17n/a
Green Brick Partners, Inc. GRBK$2.7 billion9.4714.7%n/a-6.2%0.14n/a
KB Home KBH$2.6 billion12.156.0%n/a-20.8%0.552.3%
Sunrun Inc. RUN$1.8 billion5.1711.5%2.7%63.2%4.34n/a
Century Communities, Inc. CCS$1.6 billion12.205.2%n/a-8.9%0.44n/a
LGI Homes, Inc. LGIH$1.0 billion15.373.1%n/a-16.7%0.74n/a
Dream Finders Homes, Inc. DFH$856 million6.5510.2%n/a-12.2%1.27n/a
5 companies share its SEC industry code (Heavy Construction Other Than Bldg Const - Contractors); the rest are the names nearest in size in its wider industry, Construction, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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