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Stocks · Industrials · Heavy Construction Other Than Bldg Const - Contractors

GRANITE CONSTRUCTION INC

GVA Clue Score59
United States Fiscal year ends December CIK 0000861459
$112.50 -1.17% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $112.50 +186.41% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,514.6Operating income92.4Net income57.1EPS, diluted1.42Fiscal year 2017Revenue2,958.4 +17.6%Operating income62.5Net income34.1 −40.3%EPS, diluted0.84Fiscal year 2018Revenue3,287.0 +11.1%Operating income8.2Net income0.6 −98.3%EPS, diluted0.01Fiscal year 2019Revenue2,914.9 −11.3%Operating income−41.7Net income−60.2 −10,442.1%EPS, diluted−1.29Fiscal year 2020Revenue3,562.5 +22.2%Operating income−158.3Net income−145.1EPS, diluted−3.18Fiscal year 2021Revenue3,501.9 −1.7%Operating income24.7Net income10.1EPS, diluted0.21Fiscal year 2022Revenue3,301.3 −5.7%Operating income85.4Net income83.3 +725.1%EPS, diluted1.70Fiscal year 2023Revenue3,509.1 +6.3%Operating income80.1Net income43.6 −47.7%EPS, diluted0.97Fiscal year 2024Revenue4,007.6 +14.2%Operating income207.4Net income126.3 +189.8%EPS, diluted2.62Fiscal year 2025Revenue4,424.4 +10.4%Operating income282.4Net income193.0 +52.8%EPS, diluted3.86
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,514.6 2,958.4 3,287.0 2,914.9 3,562.5 3,501.9 3,301.3 3,509.1 4,007.6 4,424.4
Growth +17.6% +11.1% −11.3% +22.2% −1.7% −5.7% +6.3% +14.2% +10.4%
Operating income 92.4 62.5 8.2 −41.7 −158.3 24.7 85.4 80.1 207.4 282.4
Net income 57.1 34.1 0.6 −60.2 −145.1 10.1 83.3 43.6 126.3 193.0
Growth −40.3% −98.3% −10,442.1% +725.1% −47.7% +189.8% +52.8%
EPS, diluted 1.42 0.84 0.01 −1.29 −3.18 0.21 1.70 0.97 2.62 3.86

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin12.0%Operating margin3.7%Net margin2.3%Free cash flow margin−0.7%Fiscal year 2017Gross margin9.4%Operating margin2.1%Net margin1.2%Free cash flow margin2.7%Fiscal year 2018Gross margin10.2%Operating margin0.2%Net margin0.0%Free cash flow margin−0.8%Fiscal year 2019Gross margin6.5%Operating margin−1.4%Net margin−2.1%Free cash flow margin0.2%Fiscal year 2020Gross margin9.7%Operating margin−4.4%Net margin−4.1%Free cash flow margin4.9%Fiscal year 2021Gross margin10.4%Operating margin0.7%Net margin0.3%Free cash flow margin−2.1%Fiscal year 2022Gross margin11.2%Operating margin2.6%Net margin2.5%Free cash flow margin−2.0%Fiscal year 2023Gross margin11.3%Operating margin2.3%Net margin1.2%Free cash flow margin1.2%Fiscal year 2024Gross margin14.3%Operating margin5.2%Net margin3.2%Free cash flow margin8.0%Fiscal year 2025Gross margin16.1%Operating margin6.4%Net margin4.4%Free cash flow margin7.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 12.0% 9.4% 10.2% 6.5% 9.7% 10.4% 11.2% 11.3% 14.3% 16.1%
Operating margin 3.7% 2.1% 0.2% −1.4% −4.4% 0.7% 2.6% 2.3% 5.2% 6.4%
Net margin 2.3% 1.2% 0.0% −2.1% −4.1% 0.3% 2.5% 1.2% 3.2% 4.4%
Free cash flow margin −0.7% 2.7% −0.8% 0.2% 4.9% −2.1% −2.0% 1.2% 8.0% 7.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow73.1Capital expenditure−91.0Free cash flow−17.8Buybacks−5.2Dividends paid−20.6Fiscal year 2017Operating cash flow146.2Capital expenditure−67.7Free cash flow78.5Buybacks−7.0Dividends paid−20.7Fiscal year 2018Operating cash flow86.4Capital expenditure−111.1Free cash flow−24.7 −131.5%Buybacks−16.6Dividends paid−22.4Fiscal year 2019Operating cash flow111.4Capital expenditure−106.8Free cash flow4.6Buybacks−36.9Dividends paid−24.3Fiscal year 2020Operating cash flow268.5Capital expenditure−93.3Free cash flow175.2 +3,700.6%Buybacks−0.9Dividends paid−23.7Fiscal year 2021Operating cash flow21.9Capital expenditure−94.8Free cash flow−72.9 −141.6%Buybacks−2.7Dividends paid−23.8Fiscal year 2022Operating cash flow55.6Capital expenditure−121.6Free cash flow−66.0Buybacks−70.9Dividends paid−23.3Fiscal year 2023Operating cash flow183.7Capital expenditure−140.4Free cash flow43.3Buybacks−4.1Dividends paid−22.8Fiscal year 2024Operating cash flow456.3Capital expenditure−136.4Free cash flow319.9 +638.5%Buybacks−50.6Dividends paid−22.8Fiscal year 2025Operating cash flow468.9Capital expenditure−138.3Free cash flow330.6 +3.3%Buybacks−48.2Dividends paid−22.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 73.1 146.2 86.4 111.4 268.5 21.9 55.6 183.7 456.3 468.9
Capital expenditure −91.0 −67.7 −111.1 −106.8 −93.3 −94.8 −121.6 −140.4 −136.4 −138.3
Free cash flow −17.8 78.5 −24.7 4.6 175.2 −72.9 −66.0 43.3 319.9 330.6
Growth −131.5% +3,700.6% −141.6% +638.5% +3.3%
Buybacks −5.2 −7.0 −16.6 −36.9 −0.9 −2.7 −70.9 −4.1 −50.6 −48.2
Dividends paid −20.6 −20.7 −22.4 −24.3 −23.7 −23.8 −23.3 −22.8 −22.8 −22.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash189.3Total debt244.3Net cash (debt)−55.0Shareholders’ equity886.0Debt to equity0.28Fiscal year 2017Cash233.7Total debt224.5Net cash (debt)9.2Shareholders’ equity945.1Debt to equity0.24Fiscal year 2018Cash272.8Total debt382.4Net cash (debt)−109.6Shareholders’ equity1,243.7Debt to equity0.31Fiscal year 2019Cash252.3Total debt364.4Net cash (debt)−112.0Shareholders’ equity1,141.5Debt to equity0.32Fiscal year 2020Cash425.3Total debt338.8Net cash (debt)86.5Shareholders’ equity975.7Debt to equity0.35Fiscal year 2021Cash395.6Total debt339.9Net cash (debt)55.7Shareholders’ equity967.7Debt to equity0.35Fiscal year 2022Cash294.0Total debt288.4Net cash (debt)5.6Shareholders’ equity953.0Debt to equity0.30Fiscal year 2023Cash417.7Total debt654.7Net cash (debt)−237.1Shareholders’ equity977.3Debt to equity0.67Fiscal year 2024Cash578.3Total debt739.0Net cash (debt)−160.7Shareholders’ equity1,015.2Debt to equity0.73Fiscal year 2025Cash529.2Total debt1,339.1Net cash (debt)−809.9Shareholders’ equity1,179.0Debt to equity1.14
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 189.3 233.7 272.8 252.3 425.3 395.6 294.0 417.7 578.3 529.2
Total debt 244.3 224.5 382.4 364.4 338.8 339.9 288.4 654.7 739.0 1,339.1
Net cash (debt) −55.0 9.2 −109.6 −112.0 86.5 55.7 5.6 −237.1 −160.7 −809.9
Shareholders’ equity 886.0 945.1 1,243.7 1,141.5 975.7 967.7 953.0 977.3 1,015.2 1,179.0
Debt to equity 0.28 0.24 0.31 0.32 0.35 0.35 0.30 0.67 0.73 1.14

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017† 31 Dec 2017 FY2018† 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
73.1 146.2 86.4 111.4 268.5 21.9 55.6 183.7 456.3 468.9
Growth +99.9% −40.9% +29.0% +140.9% −91.8% +153.7% +230.1% +148.4% +2.8%
64.4 66.3 111.5 122.0 113.0 109.1 82.6 92.3 126.3 162.4
Investment
−91.0 −67.7 −111.1 −106.8 −93.3 −94.8 −121.6 −140.4 −136.4 −138.3
calc −17.8 78.5 −24.7 4.6 175.2 −72.9 −66.0 43.3 319.9 330.6
Growth −131.5% +3,700.6% −141.6% +638.5% +3.3%
calc −0.44 1,944.42 −0.56 0.10 3.84 −1.53 −1.26 0.82 6.09 6.22
−96.4 −59.2 −39.6 −40.3 −41.3 −21.5 −11.0 −359.3 −228.6 −993.7
Financing
−40.3 −42.6 −1.9 −81.6 −57.7 −24.4 −164.3 299.3 −67.1 475.7
−20.6 −20.7 −22.4 −24.3 −23.7 −23.8 −23.3 −22.8 −22.8 −22.7
−5.2 −7.0 −16.6 −36.9 −0.9 −2.7 −70.9 −4.1 −50.6 −48.2

† The diluted share count jumps at 2017 and 2018, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.