A Business at a Glance
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GRANITE CONSTRUCTION INC
GVA
$6.2B
Mkt Cap
$124.47
-1.77%
GRANITE CONSTRUCTION INC (GVA) has a current P/E ratio of 32.2, compared to its historical median P/E of 34.4. The stock is currently considered Fair based on its historical valuation range.
GRANITE CONSTRUCTION INC (GVA) has a 5-year average return on invested capital (ROIC) of 8.2%. This is below average and may indicate limited pricing power.
GRANITE CONSTRUCTION INC (GVA) has a market capitalization of $5.4B. It is classified as a mid-cap stock.
Yes, GRANITE CONSTRUCTION INC (GVA) pays a dividend with a trailing twelve-month yield of 0.42%. The company also returns capital through share buybacks, with a buyback yield of 0.94%.
Based on historical P/E analysis, GRANITE CONSTRUCTION INC (GVA) appears fair. The current P/E of 32.2 is 6% below its historical median of 34.4. The estimated fair value CAGR (P/E method) is 59.3%.
GRANITE CONSTRUCTION INC (GVA) operates in the Heavy Construction Other Than Bldg Const - Contractors industry, within the Industrials sector.
Granite Construction Company was incorporated in 1922. In 1990, Granite Construction Incorporated was formed as the holding company for Granite Construction Company and its wholly-owned and consolidated subsidiaries and was incorporated in Delaware. Unless otherwise indicated, the terms “we,” “us,” “our,” “Company” and “Granite” refer to Granite Construction Incorporated and its wholly-owned and consolidated subsidiaries. We deliver infrastructure solutions for public and private clients primarily in the United States. We are one of the largest diversified, vertically integrated civil contractors and construction materials producers in the United States. Within the public sector, we primarily concentrate on infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, dams, power-related facilities, utilities, tunnels, water well drilling and other infrastructure-related projects.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.6B | 4.4B | 4.0B | 3.5B | 3.3B | 3.5B |
| Net Income | 185M | 193M | 126M | 44M | 83M | 10M |
| EPS | $4.23 | $3.86 | $2.62 | $0.97 | $1.70 | $0.21 |
| Free Cash Flow | 302M | 331M | 320M | 43M | -66M | -73M |
| ROIC | 10.9% | 14.0% | 12.6% | 4.6% | 8.1% | 1.6% |
| Gross Margin | 15.9% | 16.1% | 14.3% | 11.3% | 11.2% | 10.4% |
| Debt/Equity | 1.20 | 1.14 | 0.73 | 0.67 | 0.30 | 0.39 |
| Dividends/Share | $0.52 | $0.52 | $0.52 | $0.52 | $0.52 | $0.52 |
| Operating Income | 291M | 282M | 207M | 80M | 85M | 25M |
| Operating Margin | 6.3% | 6.4% | 5.2% | 2.3% | 2.6% | 0.7% |
| ROE | 17.9% | 17.6% | 12.7% | 4.5% | 8.7% | 1.0% |
| Shares Outstanding | 44M | 50M | 48M | 45M | 49M | 48M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.3B | 2.4B | 2.5B | 3.0B | 3.3B | 2.9B | 3.6B | 3.5B | 3.3B | 3.5B | 4.0B | 4.4B | 4.6B |
| Gross Margin | 10.5% | 12.6% | 12.0% | 9.3% | 10.2% | 6.5% | 9.7% | 10.4% | 11.2% | 11.3% | 14.3% | 16.1% | 15.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 193M | 204M | 217M | 220M | 273M | 238M | 316M | 303M | 273M | 294M | 334M | 408M | 433M |
| EBIT | 65M | 110M | 92M | 63M | 8.2M | -42M | -158M | 25M | 85M | 80M | 207M | 282M | 291M |
| Op. Margin | 2.9% | 4.7% | 3.7% | 2.1% | 0.2% | -1.4% | -4.4% | 0.7% | 2.6% | 2.3% | 5.2% | 6.4% | 6.3% |
| Net Income | 25M | 60M | 57M | 34M | 582K | -60M | -145M | 10M | 83M | 44M | 126M | 193M | 185M |
| Net Margin | 1.1% | 2.6% | 2.3% | 1.1% | 0.0% | -2.1% | -4.1% | 0.3% | 2.5% | 1.2% | 3.2% | 4.4% | 4.0% |
| Non-Recurring | 20M | 14M | 10M | 6.6M | 7.7M | 13M | 154M | 66M | 13M | 28M | 8.8M | 20M | 20M |
| Returns on Capital | |||||||||||||
| ROIC | 5.4% | 9.1% | 6.4% | 3.3% | 0.6% | -3.9% | -10.4% | 1.6% | 8.1% | 4.6% | 12.6% | 14.0% | 10.9% |
| ROE | 3.2% | 7.4% | 6.6% | 3.7% | 0.1% | -5.0% | -13.7% | 1.0% | 8.7% | 4.5% | 12.7% | 17.6% | 17.9% |
| ROA | 1.6% | 3.7% | 3.4% | 1.9% | 0.0% | -2.4% | -5.9% | 0.4% | 3.6% | 1.8% | 4.3% | 5.5% | 4.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 43M | 67M | 73M | 146M | 86M | 111M | 268M | 22M | 56M | 184M | 456M | 469M | 434M |
| Free Cash Flow | -286K | 23M | -18M | 79M | -25M | 4.6M | 175M | -73M | -66M | 43M | 320M | 331M | 302M |
| Owner Earnings | -36M | -6.1M | -4.6M | 64M | -40M | -21M | 149M | -94M | -35M | 81M | 310M | 267M | 212M |
| CapEx | 43M | 44M | 91M | 68M | 111M | 107M | 93M | 95M | 122M | 140M | 136M | 138M | 132M |
| Maint. CapEx | 68M | 64M | 64M | 66M | 112M | 122M | 113M | 109M | 83M | 92M | 126M | 162M | 174M |
| Growth CapEx | 0 | 0 | 27M | 1.4M | 0 | 0 | 0 | 0 | 39M | 48M | 10M | 0 | 0 |
| D&A | 68M | 64M | 64M | 66M | 112M | 122M | 113M | 109M | 83M | 92M | 126M | 162M | 174M |
| CapEx/OCF | 100.7% | 66.0% | 124.4% | 46.3% | 128.6% | 95.9% | 34.7% | 432.3% | 218.5% | 76.4% | 29.9% | 29.5% | 30.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 20M | 20M | 21M | 21M | 22M | 24M | 24M | 24M | 23M | 23M | 23M | 23M | 23M |
| Dividend Yield | 1.7% | 1.7% | 1.2% | 1.0% | 0.8% | 1.5% | 2.8% | 1.4% | 1.5% | 1.3% | 0.7% | 0.5% | 0.4% |
| Share Buybacks | 5.1M | 3.8M | 5.2M | 7.0M | 17M | 37M | 885K | 2.7M | 71M | 4.1M | 51M | 48M | 51M |
| Buyback Yield | 0.4% | 0.2% | 0.3% | 0.3% | 0.8% | 3.2% | 0.1% | 0.2% | 4.3% | 0.2% | 1.2% | 0.8% | 0.9% |
| Stock-Based Comp | 11M | 8.8M | 13M | 16M | 15M | 10M | 6.4M | 6.4M | 7.8M | 10M | 20M | 39M | 48M |
| Debt Repayment | 1.2M | 47M | 45M | 45M | 154M | 313M | 83M | 8.9M | 125M | 305M | 310M | 86M | 86M |
| Balance Sheet | |||||||||||||
| Net Debt | -11M | -19M | 285M | 213M | 180M | 84M | -86M | -23M | -45M | 201M | 153M | 739M | 926M |
| Cash & Equiv. | 256M | 253M | 189M | 234M | 273M | 252M | 425M | 396M | 294M | 418M | 578M | 529M | 315M |
| Long-Term Debt | 270M | 244M | 229M | 178M | 335M | 356M | 331M | 331M | 287M | 615M | 738M | 963M | 861M |
| Debt/Equity | 0.34 | 0.31 | 0.61 | 0.54 | 0.39 | 0.32 | 0.35 | 0.39 | 0.30 | 0.67 | 0.73 | 1.14 | 1.20 |
| Interest Coverage | 4.6 | 7.7 | 7.5 | 5.8 | 0.6 | -2.3 | -6.5 | 1.2 | 6.8 | 4.3 | 7.1 | 6.0 | 5.2 |
| Equity | 794M | 839M | 886M | 945M | 1.2B | 1.1B | 976M | 968M | 953M | 977M | 1.0B | 1.2B | 1.0B |
| Total Assets | 1.6B | 1.6B | 1.7B | 1.9B | 2.4B | 2.5B | 2.4B | 2.5B | 2.2B | 2.8B | 3.0B | 4.0B | 3.8B |
| Total Liabilities | 783M | 757M | 811M | 879M | 1.1B | 1.3B | 1.4B | 1.5B | 1.2B | 1.8B | 1.9B | 2.8B | -37M |
| Intangibles | 22M | 20M | 18M | 16M | 66M | 47M | 11M | 9.5M | 9.2M | 117M | 128M | 180M | 174M |
| Retained Earnings | 660M | 699M | 736M | 784M | 679M | 594M | 425M | 411M | 481M | 502M | 605M | 775M | 727M |
| Working Capital | 454M | 519M | 559M | 577M | 603M | 535M | 512M | 758M | 550M | 614M | 685M | 330M | 126M |
| Current Assets | 917M | 985M | 1.1B | 1.2B | 1.3B | 1.4B | 1.5B | 1.8B | 1.3B | 1.6B | 1.7B | 1.8B | 1.6B |
| Current Liabilities | 463M | 466M | 530M | 655M | 737M | 842M | 943M | 1.1B | 798M | 1.0B | 1.0B | 1.5B | 1.5B |
| Per Share Data | |||||||||||||
| EPS | 0.64 | 1.52 | 1.42 | 0.84 | 0.01 | -1.29 | -3.18 | 0.21 | 1.70 | 0.97 | 2.62 | 3.86 | 4.23 |
| Owner EPS | -0.92 | -0.15 | -0.11 | 1.58 | -0.69 | -0.45 | 3.27 | -1.95 | -0.71 | 1.80 | 6.44 | 5.35 | 4.85 |
| Book Value | 20.06 | 21.09 | 22.02 | 23.27 | 21.37 | 24.46 | 21.38 | 20.13 | 19.45 | 21.74 | 21.05 | 23.58 | 23.59 |
| Cash Flow/Share | 1.09 | 1.68 | 1.82 | 3.60 | 1.48 | 2.39 | 5.88 | 0.46 | 1.14 | 4.09 | 9.46 | 9.38 | 8.21 |
| Dividends/Share | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 |
| Shares Out. | 39.6M | 39.8M | 40.2M | 40.6M | 58.2M | 46.7M | 45.6M | 48.1M | 49.0M | 44.9M | 48.2M | 50.0M | 43.7M |
| Valuation | |||||||||||||
| P/E Ratio | 52.1 | 25.1 | 34.9 | 69.4 | N/A | N/A | N/A | 166.8 | 20.0 | 52.3 | 33.8 | 30.9 | 29.4 |
| P/FCF | N/A | 66.6 | N/A | 30.2 | N/A | 249.4 | 6.7 | N/A | N/A | 52.6 | 13.3 | 18.0 | 18.0 |
| EV/EBIT | 20.1 | 13.7 | 21.7 | 34.0 | 272.0 | N/A | 34.6 | 42.6 | 19.0 | 31.5 | 21.3 | 25.1 | 21.9 |
| Price/Book | 1.7 | 1.8 | 2.3 | N/A | 1.7 | 1.0 | 1.2 | 1.7 | 1.7 | 2.3 | 4.2 | 5.1 | 5.3 |
| Price/Sales | 0.5 | 0.5 | 0.7 | 0.7 | 0.8 | 0.5 | 0.3 | 0.6 | 0.5 | 0.5 | 0.8 | 1.1 | 1.2 |
| FCF Yield | -0.0% | 1.5% | -0.9% | 3.3% | -1.2% | 0.4% | 14.8% | -4.3% | -4.0% | 1.9% | 7.5% | 5.5% | 5.5% |
| Market Cap | 1.3B | 1.5B | 2.0B | 2.4B | 2.1B | 1.1B | 1.2B | 1.7B | 1.7B | 2.3B | 4.3B | 6.0B | 5.4B |
| Avg. Price | 30.43 | 30.91 | 41.07 | 48.55 | 47.86 | 34.41 | 18.75 | 36.34 | 30.86 | 39.88 | 66.75 | 94.15 | 124.47 |
| Year-End Price | 33.35 | 38.18 | 49.63 | 58.29 | 36.21 | 24.64 | 25.67 | 36.70 | 33.99 | 50.72 | 88.49 | 119.23 | 124.47 |
GRANITE CONSTRUCTION INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
GRANITE CONSTRUCTION INC trades at 32.2x trailing earnings, compared to its 15-year median P/E of 34.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.4x vs a median of 18.0x. The company's 5-year average ROIC is 8.2% with a gross margin of 12.6%. Total shareholder yield (dividends + buybacks) is 1.4%. At current prices, the estimated annualized return to fair value is +38.8%.
GRANITE CONSTRUCTION INC (GVA) reported annual revenue of $4.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
GRANITE CONSTRUCTION INC (GVA) has a net profit margin of 4.4%. This is a modest margin.
GRANITE CONSTRUCTION INC (GVA) generated $331 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
GRANITE CONSTRUCTION INC (GVA) has a debt-to-equity ratio of 1.14. This indicates moderate leverage.
GRANITE CONSTRUCTION INC (GVA) reported earnings per share (EPS) of $3.86 in its most recent fiscal year.
GRANITE CONSTRUCTION INC (GVA) has a return on equity (ROE) of 17.6%. This indicates the company generates strong returns for shareholders.
GRANITE CONSTRUCTION INC (GVA) has a 5-year average gross margin of 12.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for GRANITE CONSTRUCTION INC (GVA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GRANITE CONSTRUCTION INC (GVA) has a book value per share of $23.58, based on its most recent annual SEC filing.
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