NYSE · Financial Statements

Granite Construction Incorporated (GVA) Financial Statements

$106.45 NYSE: GVA Market Cap $4.66B

Granite Construction Incorporated most recently reported annual revenue of $4.4B, net profit of $193.0M. Revenue grew at an average annual rate of 4.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Granite Construction Incorporated: Revenue rose from $2.5B in 2016 to $4.4B in 2025, a change of +75.9% over 9 years; net profit was positive in 8 of 10 reported years; operating margin moved from 3.7% to 5.9%, a shift of +2.3 percentage points; the most recent year shows net profit of $193.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$2.5B$3.0B$3.3B$2.9B$3.6B$3.5B$3.3B$3.5B$4.0B$4.4B
Operating Expenses$2.4B$2.9B$3.3B$3.0B$3.7B$3.5B$3.2B$3.4B$3.8B$4.2B
Operating Profit$92.0M$99.0M$8.0M$-42.0M$-158.0M$25.0M$73.0M$80.0M$207.0M$262.0M
Operating Margin3.7%3.3%0.3%-1.4%-4.4%0.7%2.2%2.3%5.2%5.9%
Other Income$4.0M$6.0M$0$2.0M$-8.0M$-3.0M$19.0M$-20.0M$-11.0M$27.0M
Interest$12.0M$11.0M$15.0M$18.0M$24.0M$21.0M$13.0M$18.0M$29.0M$47.0M
Depreciation$63.0M$66.0M$112.0M$122.0M$113.0M$109.0M$83.0M$92.0M$126.0M$162.0M
Profit Before Tax$96.0M$104.0M$8.0M$-40.0M$-166.0M$22.0M$92.0M$60.0M$196.0M$289.0M
Tax$31.3M$27.4M$125.0M$30.6M$170,000$89.1M$14.1M$50.6M$28.4M$23.7M
Net Profit$57.0M$34.0M$1.0M$-60.0M$-145.0M$10.0M$83.0M$44.0M$126.0M$193.0M
EPS$1.42$0.84$0.96$-1.29$-3.18$0.22$1.70$0.83$2.62$3.63
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.1B$934.0M$672.0M$1.1B$1.3B$977.0M$700.0M$1.1B$1.4B$1.2B$912.0M$1.5B
Operating Expenses$1.0B$913.0M$716.0M$997.0M$1.2B$921.0M$739.0M$1.0B$1.3B$1.1B$947.0M$1.3B
Operating Profit$74.0M$21.0M$-43.0M$86.0M$104.0M$56.0M$-40.0M$104.0M$144.0M$61.0M$-34.0M$126.0M
Operating Margin6.6%2.2%-6.4%7.9%8.2%5.7%-5.7%9.2%10.0%5.2%-3.7%8.6%
Interest$5.0M$7.0M$8.0M$5.0M$8.0M$8.0M$8.0M$8.0M$13.0M$18.0M$16.0M$22.0M
Profit Before Tax$80.0M$30.0M$-39.0M$60.0M$109.0M$66.0M$-40.0M$108.0M$148.0M$74.0M$-49.0M$-239.0M
Tax$28.1M$27.6M$24.4M$34.8M$23.3M$28.9M$29.3M$25.3M$25.9M$20.2M$25.0M$-13.5M
Net Profit$58.0M$26.0M$-31.0M$37.0M$79.0M$41.0M$-34.0M$72.0M$103.0M$52.0M$-42.0M$-278.0M
EPS$1.13$0.49$-0.70$0.70$1.57$0.78$-0.77$1.42$1.98$0.97$-0.96$-6.36

Over the 10 years reported for Granite Construction Incorporated, borrowings increased from $244.0M in 2016 to $1.6B in 2025, cash stood at $529.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.22 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$1.7B$1.9B$2.5B$2.5B$2.4B$2.5B$2.2B$2.8B$3.0B$4.0B
Current Assets$1.1B$1.2B$1.3B$1.4B$1.5B$1.8B$1.3B$1.6B$1.7B$1.8B
Cash$189.0M$234.0M$273.0M$262.0M$425.0M$396.0M$294.0M$418.0M$578.0M$529.0M
Inventory$55.0M$62.0M$89.0M$89.0M$62.0M$62.0M$87.0M$104.0M$108.0M$143.0M
Receivables$492.0M$584.0M$669.0M$759.0M$570.0M$610.0M$706.0M$862.0M$840.0M$867.0M
Fixed Assets$407.0M$407.0M$550.0M$615.0M$474.0M$483.0M$558.0M$741.0M$806.0M$1.4B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$411.0M$419.0M$433.0M$310.0M$222.0M$229.0M$330.0M$300.0M$242.0M$217.0M
Other Assets$54.0M$54.0M$259.0M$264.0M$54.0M$54.0M$74.0M$155.0M$214.0M$401.0M
Total Liabilities$811.0M$879.0M$1.1B$1.3B$1.4B$1.5B$1.2B$1.8B$1.9B$2.8B
Current Liabilities$530.0M$655.0M$737.0M$842.0M$943.0M$1.1B$798.0M$1.0B$1.0B$1.5B
Borrowings$244.0M$225.0M$382.0M$423.0M$379.0M$373.0M$339.0M$735.0M$833.0M$1.6B
Other Liabilities$567.0M$655.0M$697.0M$901.0M$1.0B$1.1B$844.0M$1.1B$1.1B$1.2B
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$886.0M$945.0M$1.4B$1.1B$976.0M$968.0M$953.0M$977.0M$1.0B$1.2B

For Granite Construction Incorporated, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $331.0M; free cash flow was positive in 6 of 10 years; financing activities used $100.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$73.0M$146.0M$86.0M$111.0M$268.0M$22.0M$56.0M$184.0M$456.0M$469.0M
Investing Cash Flow$-187.0M$-127.0M$-151.0M$-147.0M$-135.0M$-116.0M$-133.0M$-500.0M$-365.0M$-1.1B
Financing Cash Flow$-5.0M$-2.0M$-29.0M$157.0M$-1.0M$8.0M$-66.0M$-52.0M$-108.0M$-100.0M
Net Cash Flow$-64.0M$44.0M$45.0M$-11.0M$170.0M$-24.0M$-120.0M$124.0M$161.0M$-49.0M
Free Cash Flow$-18.0M$79.0M$-25.0M$5.0M$175.0M$-73.0M$-66.0M$43.0M$320.0M$331.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.16
EV / EBITDA31.97
FCF Yield9.03%
Quick Ratio0.94
Interest Coverage4.25
Return 1Y12.17%
Return 3Y186.92%
Return 5Y206.03%

Granite Construction Incorporated (GVA) financials — frequently asked questions

What is Granite Construction Incorporated's annual revenue?

Granite Construction Incorporated (GVA) reported annual revenue of $4.4B in its most recent fiscal year.

What is Granite Construction Incorporated's net profit?

Granite Construction Incorporated (GVA) reported net profit of $193.0M in its most recent fiscal year.

What is GVA EV/EBITDA?

Granite Construction Incorporated's enterprise value to EBITDA (EV/EBITDA) ratio is 31.97.

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