GVANYSEHeavy Construction Other Than Bldg Const - ContractorsFiscal year ends December 31
GRANITE CONSTRUCTION INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$111.74+1.92 (+1.75%)
Close on Oct 19, 2026
- Market cap
- $4.89B
- P/E (TTM)
- –
- Dividend yield
- 0.47%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
16.1%+6.4 pts over 5 years
Operating margin
6.4%+10.8 pts over 5 years
Net margin
4.4%+8.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.4% | +10.3% | +4.4% | +6.4% | |
| Gross profit | +24.2% | +24.4% | +15.6% | +9.0% | |
| Operating income | +36.2% | +49.0% | – | +9.9% | |
| Net income | +52.8% | +32.3% | – | +12.3% | |
| EPS, diluted | +47.3% | +31.4% | – | +9.8% | |
| Free cash flow | +3.3% | – | +13.5% | +30.7% | |
| Dividend per share | 0.0% | 0.0% | 0.0% | 0.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.6% | -13.7% | 17.6% | |
| Return on assets | 3.4% | -5.9% | 5.5% | |
| Current ratio | 2.05 | 1.54 | 1.22 | |
| Debt to equity | 0.28 | 0.35 | 1.14 | |
| Net debt to EBITDA | 0.35× | 1.91× | 1.82× | |
| Interest coverage | 7.5× | -6.5× | 6.0× | |
| Inventory turnover | 40.0× | 42.5× | 29.6× | |
| Capex to revenue | 3.6% | 2.6% | 3.1% | |
| Diluted shares | 40M | 46M | 53M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Granite Construction generated $1.19B from operations and spent $923.49M on capital expenditure, dividends and share buybacks. 68% of that went back into the business.
Generated
$1.19B
Used
$923.49M
Capital expenditure$631.48M68%Dividends$115.42M12%Share buybacks$176.59M19%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.4%
×Asset turnover1.25×
×Equity multiplier3.22×
=Return on equity, FY202517.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.4% | 1.25× | 3.22× | 17.6% |
| FY2024 | 3.2% | 1.37× | 2.93× | 12.7% |
| FY2023 | 1.2% | 1.41× | 2.58× | 4.5% |
| FY2022 | 2.5% | 1.42× | 2.43× | 8.7% |
| FY2021 | 0.3% | 1.44× | 2.51× | 1.0% |
| FY2020 | -4.1% | 1.46× | 2.31× | -13.7% |
| FY2019 | -2.1% | 1.18× | 2.07× | -5.0% |
| FY2018 | 0.0% | 1.53× | 1.96× | 0.1% |
| FY2017 | 1.2% | 1.64× | 1.97× | 3.7% |
| FY2016 | 2.3% | 1.50× | 1.95× | 6.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$193.00M
- Cash generatingOperating cash flow above zero$468.92M
- Return on assets improvedROA up on the prior year4.5% → 6.4%
- Earnings backed by cashOperating cash flow above net income$468.92M vs $193.00M
- Less leverageLong-term debt to assets fell24.4% → 23.9%
- Better liquidityCurrent ratio rose1.66 → 1.22
- No dilutionShare count did not rise53M → 53M
- Gross margin improvedGross margin up on the prior year14.29% → 16.07%
- More efficientAsset turnover rose1.42 → 1.46