Granite Construction (GVA) Financials

$86.33 -0.67 (-0.77%)

Closing price 05/21/2025 03:59 PM Eastern

Extended Trading

$86.30 -0.03 (-0.04%)

As of 07:30 AM Eastern

Annual Income Statements for Granite Construction

This table shows Granite Construction's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	126	44	83	10	-145	-60	0.58	34	57	60
Consolidated Net Income / (Loss)	140	30	79	2.41	-166	-57	12	42	66	68
Net Income / (Loss) Continuing Operations	140	30	79	2.41	-166	-28	12	42	66	68
Total Pre-Tax Income	196	60	92	22	-166	-40	8.33	68	96	103
Total Operating Income	207	80	85	25	-158	-42	8.22	63	92	110
Total Gross Profit	573	396	369	363	345	190	335	279	301	300
Total Revenue	4,008	3,509	3,301	3,502	3,562	2,915	3,287	2,958	2,515	2,371
Operating Revenue	4,008	3,509	3,301	3,502	3,562	2,915	3,287	2,958	2,515	2,371
Total Cost of Revenue	3,435	3,113	2,932	3,139	3,218	2,725	2,952	2,680	2,213	2,071
Operating Cost of Revenue	3,435	3,113	2,932	3,139	3,218	2,725	2,952	2,680	2,213	2,071
Total Operating Expenses	365	316	284	338	503	232	327	216	209	190
Selling, General & Admin Expense	334	294	273	303	316	238	273	220	217	204
Other Operating Expenses / (Income)	40	50	24	101	37	6.74	-	-	-	-
Other Special Charges / (Income)	-8.76	-28	-13	-66	-6.93	-13	-7.67	-4.18	-8.36	-8.29
Total Other Income / (Expense), net	-11	-20	6.44	-2.59	-8.12	1.50	0.11	5.75	4.01	-6.88
Interest Expense	57	70	13	21	24	18	15	11	12	14
Interest & Investment Income	41	43	20	14	12	14	13	12	10	5.35
Other Income / (Expense), net	4.24	6.02	-1.04	4.39	4.20	5.31	1.67	4.70	5.97	2.03
Income Tax Expense	56	30	13	20	-0.28	-12	-3.21	26	30	35
Net Income / (Loss) Attributable to Noncontrolling Interest	14	-14	-4.45	-7.68	-21	3.49	11	8.34	9.08	7.76
Basic Earnings per Share	$2.88	$0.99	$1.87	$0.22	($3.18)	($1.29)	$0.01	$0.86	$1.44	$1.54
Weighted Average Basic Shares Outstanding	43.85M	43.88M	44.49M	45.79M	45.61M	46.56M	43.56M	39.80M	39.56M	39.34M
Diluted Earnings per Share	$2.62	$0.97	$1.70	$0.21	($3.18)	($1.29)	$0.01	$0.84	$1.42	$1.52
Weighted Average Diluted Shares Outstanding	52.51M	52.57M	52.33M	47.60M	45.61M	46.56M	44.03M	40.37M	40.23M	39.87M
Weighted Average Basic & Diluted Shares Outstanding	43.43M	43.97M	43.74M	45.88M	45.79M	-	46.69M	39.70M	39.70M	39.30M
Cash Dividends to Common per Share	$0.52	$0.52	$0.52	$0.52	$0.52	$0.52	$0.52	$0.52	$0.52	$0.52

This table shows Granite Construction's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	9/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-34	79	-31	26	58	-17	-23	22	69
Consolidated Net Income / (Loss)	-28	84	-29	22	57	-24	-26	19	65
Net Income / (Loss) Continuing Operations	-28	84	-29	22	57	-24	-26	195	-110
Total Pre-Tax Income	-40	109	-39	30	80	-15	-35	25	57
Total Operating Income	-40	104	-43	21	74	29	-43	17	55
Total Gross Profit	84	203	54	94	167	103	32	-18	230
Total Revenue	700	1,276	672	934	1,117	899	560	1,798	0.00
Operating Revenue	700	1,276	672	934	1,117	899	560	-	-
Total Cost of Revenue	616	1,073	618	839	950	795	528	1,586	0.00
Operating Cost of Revenue	616	1,073	618	839	950	795	528	-	-
Total Operating Expenses	124	99	98	74	93	74	76	20	121
Selling, General & Admin Expense	116	92	88	82	75	65	73	19	124
Other Operating Expenses / (Income)	9.43	8.54	11	12	20	14	4.52	2.21	-0.98
Other Special Charges / (Income)	-1.74	-1.54	-1.42	-21	-1.81	-3.94	-2.04	-1.21	-1.90
Total Other Income / (Expense), net	-0.33	5.15	4.33	9.37	6.10	-44	8.01	5.39	5.58
Interest Expense	7.76	7.63	8.08	6.56	4.88	55	2.89	2.62	2.52
Interest & Investment Income	7.36	12	11	13	11	10	8.95	7.20	5.39
Other Income / (Expense), net	0.06	0.87	1.74	3.31	-0.46	1.23	1.95	3.61	-0.08
Income Tax Expense	-12	25	-9.53	8.29	22	9.02	-9.47	5.65	-7.71
Net Income / (Loss) Attributable to Noncontrolling Interest	5.33	5.03	1.54	-4.29	-0.13	-6.85	-2.75	-2.88	-4.10
Basic Earnings per Share	($0.77)	$1.81	($0.70)	$0.60	$1.31	($0.39)	($0.53)	($1.13)	$3.16
Weighted Average Basic Shares Outstanding	43.46M	43.70M	43.99M	43.88M	43.92M	43.89M	43.76M	44.49M	87.95M
Diluted Earnings per Share	($0.77)	$1.57	($0.70)	$0.76	$1.13	($0.39)	($0.53)	($0.83)	$2.72
Weighted Average Diluted Shares Outstanding	43.46M	52.37M	43.99M	52.57M	53.61M	43.89M	43.76M	52.33M	103.73M
Weighted Average Basic & Diluted Shares Outstanding	43.74M	43.71M	44.15M	43.97M	43.93M	43.92M	43.88M	43.74M	43.73M
Cash Dividends to Common per Share	$0.13	-	$0.13	-	$0.13	$0.13	$0.13	-	$0.13

This table details how cash moves in and out of Granite Construction's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	161	124	-120	-24	170	-11	45	44	-64	-3.13
Net Cash From Operating Activities	456	184	56	22	268	111	86	146	73	67
Net Cash From Continuing Operating Activities	456	184	56	22	268	111	86	146	73	67
Net Income / (Loss) Continuing Operations	140	30	79	2.41	-166	-57	12	42	66	68
Consolidated Net Income / (Loss)	140	30	79	2.41	-166	-57	12	42	66	68
Depreciation Expense	126	92	83	109	113	122	112	66	64	64
Amortization Expense	4.50	2.39	2.37	9.45	8.69	1.43	0.00	-	-	-
Non-Cash Adjustments To Reconcile Net Income	19	81	-93	-38	335	84	64	28	-16	-47
Changes in Operating Assets and Liabilities, net	166	-22	-15	-61	-22	-39	-101	9.61	-42	-18
Net Cash From Investing Activities	-229	-359	-11	-21	-41	-40	-40	-59	-96	-31
Net Cash From Continuing Investing Activities	-229	-359	-11	-21	-41	-40	-40	-59	-96	-31
Purchase of Property, Plant & Equipment	-136	-140	-122	-95	-93	-107	-111	-68	-91	-44
Acquisitions	-121	-294	0.00	0.00	-	-6.23	-55	0.00	0.00	-
Purchase of Investments	-11	-9.74	-94	-10	-10.00	0.00	-9.95	-125	-130	-105
Sale of Property, Plant & Equipment	14	38	26	95	17	37	16	10	13	13
Divestitures	-13	0.00	141	0.00	5.00	0.00	48	0.00	0.00	-
Sale and/or Maturity of Investments	38	45	46	0.00	35	35	75	120	105	105
Other Investing Activities, net	1.34	1.55	-7.55	-11	5.29	0.64	-2.57	2.85	6.32	0.09
Net Cash From Financing Activities	-67	299	-164	-24	-58	-82	-1.87	-43	-40	-39
Net Cash From Continuing Financing Activities	-67	299	-164	-24	-58	-82	-1.87	-43	-40	-39
Repayment of Debt	-319	-315	-125	-8.52	-83	-318	-154	-45	-45	-47
Repurchase of Common Equity	-51	-17	-71	-2.73	-0.89	-37	-17	-6.98	-5.23	-3.78
Payment of Dividends	-23	-23	-23	-24	-24	-24	-22	-21	-21	-20
Issuance of Debt	374	679	50	0.00	50	336	204	26	31	31
Issuance of Common Equity	24	43	13	20	12	12	0.20	12	5.25	-
Other Financing Activities, net	-72	-67	-8.57	-9.51	-12	-50	-13	-7.11	-5.26	0.47
Cash Interest Paid	26	16	12	15	19	17	15	11	13	15
Cash Income Taxes Paid	32	15	3.77	2.07	2.81	12	19	34	30	4.30

This table details how cash moves in and out of Granite Construction's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-199	45	-96	126	78	15	-94	39	71
Net Cash From Operating Activities	3.65	-1.99	24	150	153	-42	-77	70	89
Net Cash From Continuing Operating Activities	3.65	-1.99	24	150	153	-42	-77	70	89
Net Income / (Loss) Continuing Operations	-28	39	-29	22	57	-24	-26	19	65
Consolidated Net Income / (Loss)	-28	39	-29	22	57	-24	-26	19	65
Depreciation Expense	30	29	29	27	24	22	20	21	29
Amortization Expense	1.08	1.58	0.76	0.70	0.70	0.52	0.47	0.47	0.48
Non-Cash Adjustments To Reconcile Net Income	63	61	-58	39	45	60	-63	-17	-22
Changes in Operating Assets and Liabilities, net	-62	-133	82	61	26	-101	-8.36	47	16
Net Cash From Investing Activities	-156	-39	-11	-270	-25	-40	-24	-25	-16
Net Cash From Continuing Investing Activities	-156	-39	-11	-270	-25	-40	-24	-25	-16
Purchase of Property, Plant & Equipment	-32	-39	-28	-31	-29	-39	-40	-24	-25
Purchase of Investments	-135	-	-	-	-	-	-	-34	-9.84
Sale of Property, Plant & Equipment	3.45	1.69	2.54	23	4.05	6.05	4.52	4.95	5.82
Divestitures	0.00	-7.06	-6.12	-	-	-	0.00	-2.00	-
Sale and/or Maturity of Investments	7.10	5.00	21	5.20	10	20	10	31	15
Other Investing Activities, net	0.00	-	0.00	-0.21	0.07	0.07	1.61	-0.31	-2.89
Net Cash From Financing Activities	-47	86	-109	246	-51	97	6.78	-6.50	-0.76
Net Cash From Continuing Financing Activities	-47	86	-109	246	-51	97	6.78	-6.50	-0.76
Repayment of Debt	-0.27	-217	-102	-0.79	-55	-259	-0.26	-0.02	-0.25
Repurchase of Common Equity	-15	-14	-7.42	-0.22	-0.13	-13	-3.52	-0.17	-0.35
Payment of Dividends	-5.65	-5.74	-5.71	-5.71	-5.71	-5.70	-5.69	-5.68	-5.73
Issuance of Debt	-0.01	-	-	250	-	-	-	-	-
Issuance of Common Equity	0.00	7.00	10	7.90	13	4.80	18	1.23	5.60
Other Financing Activities, net	-25	-58	-3.95	-5.12	-2.25	-59	-1.35	-1.84	-0.03
Cash Interest Paid	0.08	8.35	4.10	9.17	0.94	4.52	1.01	4.11	0.61
Cash Income Taxes Paid	0.02	2.11	0.83	8.06	2.47	4.69	0.17	1.99	0.23

This table presents Granite Construction's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	3,026	2,814	2,168	2,495	2,380	2,502	2,427	1,872	1,733	1,627
Total Current Assets	1,717	1,643	1,347	1,827	1,455	1,377	1,341	1,232	1,089	985
Cash & Equivalents	578	418	294	396	425	262	273	234	189	253
Short-Term Investments	7.31	36	39	0.00	-	28	30	68	65	25
Accounts Receivable	512	599	464	465	438	547	485	-	73	59
Inventories, net	108	104	87	62	62	89	89	62	55	56
Other Current Assets	511	487	463	513	359	451	464	388	287	252
Plant, Property, & Equipment, net	716	663	509	434	421	542	550	407	407	385
Total Noncurrent Assets	593	507	311	234	504	583	537	232	238	257
Long-Term Investments	94	93	107	39	33	89	120	103	99	114
Goodwill	214	155	74	54	54	264	259	54	54	54
Intangible Assets	128	117	9.21	-	-	-	-	-	-	-
Noncurrent Deferred & Refundable Income Taxes	0.00	8.18	22	24	43	50	30	-	-	4.33
Other Noncurrent Operating Assets	156	134	99	117	374	179	127	75	85	85
Total Liabilities & Shareholders' Equity	3,026	2,814	2,168	2,495	2,380	2,502	2,427	1,872	1,733	1,627
Total Liabilities	1,946	1,787	1,183	1,499	1,388	1,324	1,138	879	811	757
Total Current Liabilities	1,032	1,030	798	1,069	943	842	737	655	530	466
Short-Term Debt	1.11	40	1.45	8.73	8.28	8.24	47	46	15	15
Accounts Payable	407	408	334	324	321	401	257	238	199	158
Accrued Expenses	324	338	288	453	382	337	324	236	219	201
Other Current Liabilities	300	244	173	200	163	96	109	135	-	-
Total Noncurrent Liabilities	914	757	385	430	445	482	400	224	281	291
Long-Term Debt	738	615	287	331	331	356	335	178	229	244
Noncurrent Deferred & Payable Income Tax Liabilities	14	3.71	1.89	1.86	2.02	3.75	4.16	1.36	5.44	0.00
Other Noncurrent Operating Liabilities	163	138	96	97	102	122	61	44	46	47
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,079	1,027	985	996	992	1,178	1,289	993	923	870
Total Preferred & Common Equity	1,015	977	953	968	976	1,141	1,244	945	886	839
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,015	977	953	968	976	1,141	1,244	945	886	839
Common Stock	411	475	471	560	556	550	565	161	151	141
Retained Earnings	605	502	481	411	425	594	679	784	736	699
Accumulated Other Comprehensive Income / (Loss)	-0.58	0.88	0.79	-3.36	-5.04	-2.65	-0.75	0.63	-0.37	-1.50
Noncontrolling Interest	64	50	32	28	16	37	46	48	37	31

This table presents Granite Construction's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	2,907	3,131	2,595	2,580	2,377	2,077	2,408
Total Current Assets	1,499	1,814	1,418	1,695	1,491	1,246	1,580
Cash & Equivalents	379	462	322	292	214	200	255
Short-Term Investments	44	10	16	31	25	40	40
Accounts Receivable	471	733	430	743	637	397	618
Inventories, net	128	108	117	92	92	98	81
Other Current Assets	477	501	534	536	523	512	585
Plant, Property, & Equipment, net	722	720	666	570	564	531	501
Total Noncurrent Assets	686	597	511	316	321	300	327
Long-Term Investments	184	95	93	97	98	100	100
Goodwill	214	212	161	74	79	74	74
Intangible Assets	125	132	113	-	-	-	-
Other Noncurrent Operating Assets	162	154	137	115	113	104	108
Total Liabilities & Shareholders' Equity	2,907	3,131	2,595	2,580	2,377	2,077	2,408
Total Liabilities	1,869	2,061	1,590	1,574	1,435	1,105	1,421
Total Current Liabilities	954	1,165	936	1,056	867	723	1,041
Short-Term Debt	1.12	1.10	40	1.48	1.47	1.46	1.44
Accounts Payable	375	510	347	477	382	295	398
Accrued Expenses	297	361	325	356	310	267	450
Other Current Liabilities	280	293	224	222	173	160	191
Total Noncurrent Liabilities	915	896	654	517	568	382	380
Long-Term Debt	739	737	513	404	459	287	287
Noncurrent Deferred & Payable Income Tax Liabilities	14	3.42	3.64	3.81	4.57	1.68	61
Other Noncurrent Operating Liabilities	163	156	137	110	105	93	33
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,038	1,070	1,005	1,007	941	972	987
Total Preferred & Common Equity	994	1,007	946	955	902	925	951
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	994	1,007	946	955	902	925	951
Common Stock	428	438	480	473	471	472	469
Retained Earnings	565	569	465	482	430	453	481
Accumulated Other Comprehensive Income / (Loss)	0.07	0.44	1.29	0.89	0.80	0.65	0.54
Noncontrolling Interest	45	63	58	51	40	47	36

This table displays calculated financial ratios and metrics derived from Granite Construction's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.20%	6.30%	-5.73%	-1.70%	22.22%	-11.32%	11.11%	17.65%	6.06%	4.21%
EBITDA Growth	89.46%	6.77%	14.68%	554.29%	-137.35%	-28.35%	-9.09%	-17.91%	-7.90%	30.62%
EBIT Growth	145.81%	2.06%	189.80%	118.88%	-323.25%	-468.54%	-85.30%	-31.63%	-12.47%	67.71%
NOPAT Growth	275.07%	-46.03%	2,619.26%	102.43%	-279.51%	-356.63%	-70.73%	-38.72%	-12.83%	73.27%
Net Income Growth	374.68%	-62.48%	3,166.65%	101.45%	-193.08%	-591.52%	-72.83%	-35.87%	-3.00%	90.23%
EPS Growth	170.10%	-42.94%	709.52%	106.60%	-146.51%	-13,000.00%	-98.81%	-40.85%	-6.58%	137.50%
Operating Cash Flow Growth	148.41%	230.13%	153.74%	-91.83%	140.91%	28.99%	-40.91%	99.87%	9.21%	55.25%
Free Cash Flow Firm Growth	155.15%	-56.52%	-187.73%	-29.73%	388.31%	113.13%	-1,144.76%	409.55%	-140.92%	40.46%
Invested Capital Growth	0.31%	36.31%	40.77%	-24.18%	-32.93%	-6.81%	53.69%	-0.22%	10.38%	5.84%
Revenue Q/Q Growth	0.00%	-19.76%	29.88%	2.73%	19.88%	-14.79%	2.85%	3.62%	1.47%	1.73%
EBITDA Q/Q Growth	0.00%	5.88%	-9.16%	12.05%	-10.58%	158.15%	-22.54%	-12.70%	-11.87%	8.67%
EBIT Q/Q Growth	0.00%	4.48%	-8.59%	120.50%	-1.90%	60.72%	-83.83%	-22.50%	-19.52%	17.32%
NOPAT Q/Q Growth	0.00%	5.15%	15.52%	-65.66%	-2.76%	55.89%	-72.86%	-31.81%	-21.12%	21.28%
Net Income Q/Q Growth	0.00%	9.36%	100.92%	-91.54%	13.42%	17.17%	-74.55%	-28.93%	-19.34%	26.54%
EPS Q/Q Growth	0.00%	256.45%	-26.72%	-65.57%	15.65%	17.31%	-98.41%	-35.38%	-18.39%	22.58%
Operating Cash Flow Q/Q Growth	0.00%	75.84%	205.75%	-88.44%	-2.94%	146.82%	-10.31%	-6.98%	31.30%	-18.17%
Free Cash Flow Firm Q/Q Growth	0.00%	-254.71%	-14,119.94%	52.67%	2.20%	-21.05%	23.15%	-47.27%	49.31%	-54.65%
Invested Capital Q/Q Growth	0.00%	14.49%	-5.34%	-27.42%	-16.34%	-10.98%	-13.53%	-4.35%	-6.35%	-3.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.29%	11.30%	11.19%	10.36%	9.68%	6.51%	10.19%	9.42%	11.98%	12.65%
EBITDA Margin	8.54%	5.15%	5.13%	4.22%	-0.91%	2.98%	3.69%	4.51%	6.47%	7.45%
Operating Margin	5.17%	2.28%	2.59%	0.71%	-4.44%	-1.43%	0.25%	2.11%	3.67%	4.65%
EBIT Margin	5.28%	2.45%	2.55%	0.83%	-4.33%	-1.25%	0.30%	2.27%	3.91%	4.74%
Profit (Net Income) Margin	3.50%	0.84%	2.39%	0.07%	-4.66%	-1.95%	0.35%	1.44%	2.63%	2.88%
Tax Burden Percent	71.58%	49.43%	85.89%	10.91%	99.83%	140.97%	138.52%	62.19%	68.70%	65.99%
Interest Burden Percent	92.72%	69.53%	108.86%	76.03%	107.99%	110.45%	84.27%	101.56%	98.00%	92.07%
Effective Tax Rate	28.42%	50.57%	14.12%	89.09%	0.00%	0.00%	-38.52%	37.81%	31.30%	34.01%
Return on Invested Capital (ROIC)	13.06%	4.02%	10.30%	0.39%	-11.40%	-2.42%	1.10%	4.78%	8.18%	10.15%
ROIC Less NNEP Spread (ROIC-NNEP)	3.52%	49.43%	8.31%	0.49%	37.53%	96.22%	0.96%	2.31%	5.89%	13.74%
Return on Net Nonoperating Assets (RNNOA)	0.28%	-1.08%	-2.33%	-0.15%	-3.91%	-2.17%	-0.09%	-0.35%	-0.79%	-2.06%
Return on Equity (ROE)	13.34%	2.94%	7.96%	0.24%	-15.32%	-4.60%	1.01%	4.43%	7.39%	8.09%
Cash Return on Invested Capital (CROIC)	12.75%	-26.71%	-23.57%	27.90%	28.02%	4.62%	-41.22%	5.00%	-1.69%	4.48%
Operating Return on Assets (OROA)	7.25%	3.46%	3.62%	1.19%	-6.31%	-1.48%	0.46%	3.73%	5.85%	6.96%
Return on Assets (ROA)	4.81%	1.19%	3.38%	0.10%	-6.81%	-2.30%	0.54%	2.36%	3.94%	4.23%
Return on Common Equity (ROCE)	12.61%	2.82%	7.72%	0.24%	-14.94%	-4.44%	0.97%	4.24%	7.11%	7.83%
Return on Equity Simple (ROE_SIMPLE)	13.83%	3.03%	8.27%	0.25%	-17.03%	-4.97%	0.93%	4.49%	7.47%	8.13%
Net Operating Profit after Tax (NOPAT)	148	40	73	2.70	-111	-29	11	39	63	73
NOPAT Margin	3.70%	1.13%	2.22%	0.08%	-3.11%	-1.00%	0.35%	1.31%	2.52%	3.07%
Net Nonoperating Expense Percent (NNEP)	9.54%	-45.40%	1.99%	-0.09%	-48.93%	-98.64%	0.14%	2.47%	2.28%	-3.59%
Return On Investment Capital (ROIC_SIMPLE)	8.16%	2.35%	5.76%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	85.71%	88.70%	88.81%	89.64%	90.32%	93.49%	89.81%	90.58%	88.02%	87.35%
SG&A Expenses to Revenue	8.34%	8.39%	8.26%	8.65%	8.88%	8.17%	8.30%	7.45%	8.64%	8.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	9.12%	9.01%	8.61%	9.65%	14.12%	7.94%	9.94%	7.31%	8.31%	7.99%
Earnings before Interest and Taxes (EBIT)	212	86	84	29	-154	-36	9.88	67	98	112
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	342	181	169	148	-32	87	121	134	163	177
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.78	2.27	1.58	1.77	1.22	1.05	1.39	2.42	2.20	1.78
Price to Tangible Book Value (P/TBV)	5.70	3.15	1.73	1.88	1.29	1.37	1.75	2.56	2.34	1.90
Price to Revenue (P/Rev)	0.96	0.63	0.46	0.49	0.33	0.41	0.52	0.77	0.77	0.63
Price to Earnings (P/E)	30.35	50.87	18.05	169.80	0.00	0.00	2,964.32	66.93	34.11	24.72
Dividend Yield	0.59%	1.03%	1.51%	1.39%	2.04%	2.03%	1.41%	0.91%	1.06%	1.37%
Earnings Yield	3.30%	1.97%	5.54%	0.59%	0.00%	0.00%	0.03%	1.49%	2.93%	4.04%
Enterprise Value to Invested Capital (EV/IC)	3.48	2.09	1.66	2.78	1.39	1.05	1.39	2.65	2.31	1.89
Enterprise Value to Revenue (EV/Rev)	0.99	0.68	0.42	0.47	0.31	0.42	0.53	0.73	0.75	0.59
Enterprise Value to EBITDA (EV/EBITDA)	11.56	13.14	8.17	11.16	0.00	14.03	14.25	16.10	11.54	7.89
Enterprise Value to EBIT (EV/EBIT)	18.70	27.60	16.40	56.61	0.00	0.00	175.07	31.99	19.09	12.41
Enterprise Value to NOPAT (EV/NOPAT)	26.66	60.03	18.86	610.94	0.00	0.00	152.01	55.31	29.58	19.15
Enterprise Value to Operating Cash Flow (EV/OCF)	8.67	12.93	24.86	75.12	4.05	10.96	20.03	14.71	25.66	20.81
Enterprise Value to Free Cash Flow (EV/FCFF)	27.30	0.00	0.00	8.61	3.99	21.89	0.00	52.90	0.00	43.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.68	0.64	0.29	0.34	0.34	0.31	0.30	0.23	0.26	0.30
Long-Term Debt to Equity	0.68	0.60	0.29	0.33	0.33	0.30	0.26	0.18	0.25	0.28
Financial Leverage	0.08	-0.02	-0.28	-0.31	-0.10	-0.02	-0.10	-0.15	-0.13	-0.15
Leverage Ratio	2.77	2.48	2.35	2.45	2.25	2.00	1.88	1.88	1.87	1.91
Compound Leverage Factor	2.57	1.72	2.56	1.87	2.43	2.21	1.59	1.91	1.84	1.76
Debt to Total Capital	40.64%	38.93%	22.64%	25.45%	25.47%	23.62%	22.87%	18.44%	20.94%	22.95%
Short-Term Debt to Total Capital	0.06%	2.37%	0.11%	0.65%	0.62%	0.53%	2.83%	3.78%	1.27%	1.31%
Long-Term Debt to Total Capital	40.58%	36.56%	22.53%	24.80%	24.84%	23.08%	20.05%	14.66%	19.67%	21.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.53%	2.95%	2.52%	2.09%	1.20%	2.39%	2.73%	3.92%	3.14%	2.73%
Common Equity to Total Capital	55.83%	58.11%	74.83%	72.46%	73.34%	73.99%	74.40%	77.64%	75.93%	74.32%
Debt to EBITDA	2.16	3.62	1.70	2.30	-10.43	4.19	3.15	1.68	1.50	1.47
Net Debt to EBITDA	0.17	0.60	-0.90	-0.64	3.67	-0.17	-0.34	-1.35	-0.67	-0.75
Long-Term Debt to EBITDA	2.16	3.40	1.70	2.24	-10.17	4.09	2.76	1.34	1.41	1.38
Debt to NOPAT	4.98	16.54	3.93	126.05	-3.06	-12.47	33.60	5.77	3.85	3.56
Net Debt to NOPAT	0.40	2.74	-2.08	-35.12	1.08	0.51	-3.59	-4.64	-1.71	-1.82
Long-Term Debt to NOPAT	4.97	15.53	3.91	122.81	-2.98	-12.19	29.45	4.59	3.62	3.36
Altman Z-Score	3.29	2.60	3.03	2.72	2.31	2.25	2.97	4.21	4.06	3.86
Noncontrolling Interest Sharing Ratio	5.40%	4.07%	3.03%	2.21%	2.44%	3.35%	4.09%	4.40%	3.76%	3.18%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.66	1.60	1.69	1.71	1.54	1.64	1.82	1.88	2.06	2.11
Quick Ratio	1.06	1.02	1.00	0.80	0.91	0.99	1.07	1.19	1.41	1.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	145	-263	-168	191	272	56	-425	41	-13	32
Operating Cash Flow to CapEx	372.36%	179.62%	58.24%	274,137.50%	350.69%	159.80%	91.07%	254.28%	93.75%	215.84%
Free Cash Flow to Firm to Interest Expense	2.55	-3.78	-13.30	9.23	11.25	3.09	-29.15	3.76	-1.06	2.25
Operating Cash Flow to Interest Expense	8.04	2.64	4.41	1.06	11.09	6.17	5.93	13.54	5.92	4.70
Operating Cash Flow Less CapEx to Interest Expense	5.88	1.17	-3.16	1.06	7.93	2.31	-0.58	8.21	-0.39	2.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.37	1.41	1.42	1.44	1.46	1.18	1.53	1.64	1.50	1.47
Accounts Receivable Turnover	7.22	6.60	7.11	7.76	7.23	5.65	0.00	0.00	38.05	49.66
Inventory Turnover	32.39	32.64	39.41	50.46	42.52	30.70	39.07	45.52	39.95	33.28
Fixed Asset Turnover	5.81	5.99	7.00	8.19	7.40	5.34	6.87	7.27	6.35	5.97
Accounts Payable Turnover	8.42	8.38	8.90	9.72	8.91	8.29	11.94	12.27	12.41	13.38
Days Sales Outstanding (DSO)	50.57	55.27	51.33	47.02	50.46	64.62	0.00	0.00	9.59	7.35
Days Inventory Outstanding (DIO)	11.27	11.18	9.26	7.23	8.58	11.89	9.34	8.02	9.14	10.97
Days Payable Outstanding (DPO)	43.33	43.55	41.00	37.54	40.96	44.04	30.56	29.74	29.40	27.27
Cash Conversion Cycle (CCC)	18.50	22.90	19.59	16.71	18.09	32.48	-21.22	-21.72	-10.68	-8.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,139	1,135	833	592	780	1,164	1,249	812	814	738
Invested Capital Turnover	3.52	3.57	4.64	5.10	3.67	2.42	3.19	3.64	3.24	3.31
Increase / (Decrease) in Invested Capital	3.50	302	241	-189	-383	-85	436	-1.78	77	41
Enterprise Value (EV)	3,958	2,376	1,383	1,647	1,088	1,221	1,730	2,151	1,877	1,394
Market Capitalization	3,834	2,218	1,503	1,714	1,191	1,199	1,725	2,283	1,949	1,495
Book Value per Share	$23.23	$22.25	$21.79	$21.12	$20.87	$24.42	$26.52	$23.72	$22.37	$21.31
Tangible Book Value per Share	$15.39	$16.05	$19.90	$19.94	$19.72	$18.77	$20.99	$22.37	$21.01	$19.94
Total Capital	1,818	1,682	1,274	1,335	1,330	1,543	1,672	1,217	1,167	1,129
Total Debt	739	655	288	340	339	364	382	225	244	259
Total Long-Term Debt	738	615	287	331	331	356	335	178	229	244
Net Debt	59	108	-152	-95	-119	-15	-41	-180	-108	-133
Capital Expenditures (CapEx)	123	102	96	0.01	77	70	95	57	78	31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	100	200	218	371	95	253	348	321	320	256
Debt-free Net Working Capital (DFNWC)	686	654	551	767	520	543	650	623	574	534
Net Working Capital (NWC)	685	614	550	758	512	535	603	577	559	519
Net Nonoperating Expense (NNE)	8.00	9.99	-5.53	0.28	55	27	-0.16	-3.57	-2.75	4.54
Net Nonoperating Obligations (NNO)	59	108	-152	-404	-211	-15	-41	-180	-108	-133
Total Depreciation and Amortization (D&A)	131	95	85	118	122	123	112	66	64	64
Debt-free, Cash-free Net Working Capital to Revenue	2.50%	5.70%	6.60%	10.60%	2.67%	8.68%	10.57%	10.86%	12.71%	10.80%
Debt-free Net Working Capital to Revenue	17.11%	18.62%	16.70%	21.90%	14.60%	18.63%	19.79%	21.05%	22.82%	22.52%
Net Working Capital to Revenue	17.09%	17.48%	16.65%	21.65%	14.37%	18.35%	18.35%	19.50%	22.23%	21.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.88	$0.99	$0.00	$0.22	($3.18)	($1.29)	$0.97	$1.74	$1.44	$1.54
Adjusted Weighted Average Basic Shares Outstanding	43.85M	43.88M	0.00	45.79M	45.61M	46.56M	43.56M	39.80M	39.56M	39.34M
Adjusted Diluted Earnings per Share	$2.62	$0.97	$0.00	$0.22	($3.18)	($1.29)	$0.96	$1.71	$1.42	$1.52
Adjusted Weighted Average Diluted Shares Outstanding	52.51M	52.57M	0.00	45.79M	45.61M	46.56M	44.03M	40.37M	40.23M	39.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.43M	43.97M	0.00	45.88M	45.79M	0.00	46.69M	39.89M	39.62M	39.41M
Normalized Net Operating Profit after Tax (NOPAT)	142	36	62	-29	-6.01	-39	43	36	58	63
Normalized NOPAT Margin	3.55%	1.03%	1.89%	-0.83%	-0.17%	-1.32%	1.32%	1.23%	2.29%	2.67%
Pre Tax Income Margin	4.90%	1.71%	2.78%	0.63%	-4.67%	-1.38%	0.25%	2.31%	3.83%	4.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.73	1.24	6.68	1.40	-6.37	-2.02	0.68	6.22	7.95	7.88
NOPAT to Interest Expense	2.62	0.57	5.81	0.13	-4.58	-1.62	0.78	3.60	5.13	5.11
EBIT Less CapEx to Interest Expense	1.57	-0.23	-0.89	1.40	-9.53	-5.88	-5.83	0.90	1.64	5.70
NOPAT Less CapEx to Interest Expense	0.46	-0.90	-1.76	0.13	-7.74	-5.48	-5.73	-1.72	-1.18	2.93
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.24%	77.10%	29.51%	986.08%	-14.27%	-42.88%	194.38%	48.72%	31.06%	29.96%
Augmented Payout Ratio	52.65%	135.65%	119.42%	1,099.17%	-14.80%	-107.96%	337.91%	65.16%	38.96%	35.49%

This table displays calculated financial ratios and metrics derived from Granite Construction's official financial filings.

Metric	Q1 2025	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	9/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	4.06%	41.95%	20.03%	-48.07%	0.00%	5.81%	-14.35%	73.11%	-100.00%
EBITDA Growth	28.09%	159.84%	44.39%	24.16%	15.79%	22.28%	-5,770.43%	-29.10%	13.93%
EBIT Growth	4.50%	249.58%	-0.62%	18.22%	34.30%	13.58%	-142.69%	-28.13%	25.21%
NOPAT Growth	8.20%	296.13%	-0.12%	16.15%	-14.39%	-2.02%	-175.31%	148.94%	80.81%
Net Income Growth	3.79%	452.16%	-14.24%	13.21%	-11.81%	-221.80%	-2.70%	193.85%	101.09%
EPS Growth	-10.00%	502.56%	-32.08%	191.57%	-58.46%	-200.00%	8.62%	-295.24%	272.60%
Operating Cash Flow Growth	-84.85%	95.29%	131.39%	112.74%	72.76%	20.41%	-52.83%	284.99%	-2.51%
Free Cash Flow Firm Growth	69.91%	65.32%	17.64%	-25.86%	-2,133.89%	-466.01%	-894.70%	-217.81%	-101.73%
Invested Capital Growth	3.85%	16.62%	22.40%	36.31%	12.70%	39.18%	38.71%	40.77%	7.93%
Revenue Q/Q Growth	0.00%	89.73%	-28.00%	-16.40%	24.29%	60.44%	-68.85%	0.00%	-100.00%
EBITDA Q/Q Growth	0.00%	1,260.58%	-122.73%	-47.24%	86.71%	348.39%	-150.74%	-50.80%	97.17%
EBIT Q/Q Growth	0.00%	353.08%	-273.59%	-67.36%	143.83%	172.85%	-303.95%	-62.93%	106.22%
NOPAT Q/Q Growth	0.00%	364.03%	-302.99%	-71.88%	162.88%	166.73%	-335.50%	-79.28%	200.86%
Net Income Q/Q Growth	0.00%	385.23%	-235.62%	-62.24%	341.11%	7.47%	-234.40%	-70.59%	233.02%
EPS Q/Q Growth	0.00%	324.29%	-192.11%	-32.74%	389.74%	26.42%	36.14%	-130.51%	597.44%
Operating Cash Flow Q/Q Growth	0.00%	-108.26%	-83.90%	-2.37%	462.39%	44.89%	-209.12%	-20.72%	266.95%
Free Cash Flow Firm Q/Q Growth	0.00%	59.08%	17.65%	-390.37%	79.01%	2.83%	-25.86%	-8,603.30%	-103.44%
Invested Capital Q/Q Growth	0.00%	10.02%	-0.65%	14.49%	-6.81%	15.47%	10.64%	-5.34%	15.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	11.99%	15.91%	8.07%	10.10%	14.92%	11.47%	5.78%	-1.02%	0.00%
EBITDA Margin	-1.21%	10.67%	-1.75%	5.53%	8.76%	5.83%	-3.77%	2.31%	0.00%
Operating Margin	-5.68%	8.18%	-6.44%	2.21%	6.61%	3.21%	-7.72%	0.93%	0.00%
EBIT Margin	-5.67%	8.25%	-6.18%	2.56%	6.57%	3.35%	-7.37%	1.13%	0.00%
Profit (Net Income) Margin	-4.05%	6.58%	-4.38%	2.33%	5.15%	-2.65%	-4.60%	1.07%	0.00%
Tax Burden Percent	70.67%	76.73%	75.55%	72.37%	71.94%	160.88%	73.13%	77.24%	113.41%
Interest Burden Percent	101.00%	104.06%	93.77%	125.30%	108.95%	-49.27%	85.33%	122.60%	105.25%
Effective Tax Rate	0.00%	23.27%	0.00%	27.63%	28.06%	0.00%	0.00%	22.76%	-13.41%
Return on Invested Capital (ROIC)	-13.96%	21.77%	-15.93%	5.70%	22.23%	8.01%	-21.87%	3.31%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-14.35%	24.46%	-13.53%	-25.10%	15.02%	299.74%	-24.49%	1.04%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-1.80%	3.57%	-0.49%	0.55%	-0.92%	-4.87%	4.36%	-0.29%	0.00%
Return on Equity (ROE)	-15.76%	25.34%	-16.43%	6.25%	21.31%	3.14%	-17.50%	3.02%	0.00%
Cash Return on Invested Capital (CROIC)	9.54%	-5.35%	-16.54%	-26.71%	-7.92%	-26.05%	-24.86%	-23.57%	-0.14%
Operating Return on Assets (OROA)	-8.32%	11.97%	-9.58%	3.61%	11.52%	4.67%	-10.85%	1.59%	0.00%
Return on Assets (ROA)	-5.94%	9.56%	-6.79%	3.28%	9.03%	-3.70%	-6.77%	1.51%	0.00%
Return on Common Equity (ROCE)	-14.97%	24.05%	-15.56%	6.00%	20.38%	3.02%	-16.74%	2.93%	0.00%
Return on Equity Simple (ROE_SIMPLE)	14.25%	13.28%	2.74%	0.00%	2.83%	3.86%	8.45%	0.00%	4.13%
Net Operating Profit after Tax (NOPAT)	-28	80	-30	15	53	20	-30	13	62
NOPAT Margin	-3.98%	6.27%	-4.51%	1.60%	4.76%	2.25%	-5.41%	0.71%	0.00%
Net Nonoperating Expense Percent (NNEP)	0.39%	-2.69%	-2.40%	30.81%	7.20%	-291.73%	2.62%	2.27%	2.01%
Return On Investment Capital (ROIC_SIMPLE)	-1.57%	-	-	0.89%	-	-	-	1.01%	-
Cost of Revenue to Revenue	88.01%	84.09%	91.93%	89.90%	85.08%	88.53%	94.22%	88.22%	0.00%
SG&A Expenses to Revenue	16.57%	7.19%	13.09%	8.78%	6.70%	7.19%	13.06%	1.04%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.67%	7.73%	14.52%	7.89%	8.31%	8.26%	13.50%	1.10%	0.00%
Earnings before Interest and Taxes (EBIT)	-40	105	-42	24	73	30	-41	20	55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.44	136	-12	52	98	52	-21	42	84
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.30	3.44	2.65	2.27	1.73	1.92	1.92	1.58	1.15
Price to Tangible Book Value (P/TBV)	5.01	5.22	3.72	3.15	1.88	2.10	2.08	1.73	1.25
Price to Revenue (P/Rev)	0.81	0.87	0.69	0.63	0.38	0.53	0.55	0.46	0.43
Price to Earnings (P/E)	26.48	26.32	70.28	50.87	41.75	33.66	20.37	18.05	22.83
Dividend Yield	0.69%	0.66%	0.91%	1.03%	1.38%	1.32%	1.28%	1.51%	2.09%
Earnings Yield	3.78%	3.80%	1.42%	1.97%	2.40%	2.97%	4.91%	5.54%	4.38%
Enterprise Value to Invested Capital (EV/IC)	2.95	2.98	2.38	2.09	1.71	1.78	1.92	1.66	1.17
Enterprise Value to Revenue (EV/Rev)	0.86	0.92	0.74	0.68	0.39	0.58	0.55	0.42	0.40
Enterprise Value to EBITDA (EV/EBITDA)	9.99	13.50	14.13	13.14	9.91	12.01	11.97	8.17	5.50
Enterprise Value to EBIT (EV/EBIT)	16.17	22.98	31.30	27.60	20.53	29.69	29.45	16.40	11.11
Enterprise Value to NOPAT (EV/NOPAT)	22.56	32.08	72.70	60.03	44.95	30.79	29.46	18.86	16.15
Enterprise Value to Operating Cash Flow (EV/OCF)	7.92	11.39	9.44	12.93	16.19	47.28	60.70	24.86	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	31.49	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.71	0.69	0.55	0.64	0.40	0.49	0.30	0.29	0.29
Long-Term Debt to Equity	0.71	0.69	0.51	0.60	0.40	0.49	0.30	0.29	0.29
Financial Leverage	0.13	0.15	0.04	-0.02	-0.06	-0.02	-0.18	-0.28	-0.16
Leverage Ratio	2.69	2.74	2.36	2.48	2.50	2.51	2.26	2.35	2.47
Compound Leverage Factor	2.72	2.85	2.22	3.10	2.73	-1.24	1.93	2.89	2.60
Debt to Total Capital	41.60%	40.84%	35.51%	38.93%	28.70%	32.83%	22.88%	22.64%	22.61%
Short-Term Debt to Total Capital	0.06%	0.06%	2.57%	2.37%	0.10%	0.10%	0.12%	0.11%	0.11%
Long-Term Debt to Total Capital	41.54%	40.78%	32.94%	36.56%	28.60%	32.73%	22.76%	22.53%	22.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.52%	3.46%	3.73%	2.95%	3.63%	2.85%	3.72%	2.52%	2.79%
Common Equity to Total Capital	55.88%	55.69%	60.76%	58.11%	67.67%	64.32%	73.40%	74.83%	74.59%
Debt to EBITDA	2.14	2.70	2.91	3.62	2.37	2.92	1.95	1.70	1.55
Net Debt to EBITDA	0.38	0.63	0.65	0.60	-0.09	0.78	-0.34	-0.90	-0.57
Long-Term Debt to EBITDA	2.14	2.69	2.70	3.40	2.37	2.92	1.94	1.70	1.54
Debt to NOPAT	4.83	6.41	14.97	16.54	10.77	7.50	4.80	3.93	4.54
Net Debt to NOPAT	0.87	1.49	3.34	2.74	-0.40	2.00	-0.85	-2.08	-1.68
Long-Term Debt to NOPAT	4.83	6.40	13.89	15.53	10.73	7.47	4.78	3.91	4.52
Altman Z-Score	2.89	2.90	2.76	2.53	2.98	2.70	3.05	2.93	2.14
Noncontrolling Interest Sharing Ratio	5.04%	5.10%	5.32%	4.07%	4.36%	3.94%	4.37%	3.03%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.56	1.51	1.60	1.60	1.72	1.72	1.69	1.52
Quick Ratio	0.94	1.03	0.82	1.02	1.01	1.01	0.88	1.00	0.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-71	-97	-237	-287	-59	-279	-287	-228	-2.62
Operating Cash Flow to CapEx	12.68%	-5.33%	95.02%	1,886.55%	607.12%	-127.36%	-213.36%	371.74%	473.64%
Free Cash Flow to Firm to Interest Expense	-9.18	-12.69	-29.29	-43.80	-12.02	-5.06	-99.42	-87.13	-1.04
Operating Cash Flow to Interest Expense	0.47	-0.26	2.98	22.78	31.40	-0.77	-26.53	26.81	35.19
Operating Cash Flow Less CapEx to Interest Expense	-3.24	-5.15	-0.16	21.57	26.23	-1.37	-38.96	19.60	27.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	1.47	1.45	1.55	1.41	1.75	1.40	1.47	1.42	1.02
Accounts Receivable Turnover	8.95	5.84	8.76	6.60	6.43	5.60	8.25	7.11	3.90
Inventory Turnover	27.98	34.78	29.82	32.64	44.51	34.07	33.27	39.41	28.90
Fixed Asset Turnover	5.82	6.23	6.05	5.99	8.17	6.33	6.53	7.00	5.03
Accounts Payable Turnover	9.50	7.80	9.97	8.38	8.82	8.15	9.87	8.90	5.77
Days Sales Outstanding (DSO)	40.76	62.52	41.68	55.27	56.80	65.23	44.25	51.33	93.55
Days Inventory Outstanding (DIO)	13.05	10.49	12.24	11.18	8.20	10.71	10.97	9.26	12.63
Days Payable Outstanding (DPO)	38.43	46.80	36.61	43.55	41.39	44.80	36.97	41.00	63.30
Cash Conversion Cycle (CCC)	15.38	26.22	17.31	22.90	23.61	31.15	18.25	19.59	42.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	1,171	1,241	1,128	1,135	992	1,064	921	833	880
Invested Capital Turnover	3.51	3.47	3.53	3.57	4.67	3.56	4.05	4.64	3.00
Increase / (Decrease) in Invested Capital	43	177	206	302	112	300	257	241	65
Enterprise Value (EV)	3,453	3,697	2,686	2,376	1,692	1,890	1,769	1,383	1,025
Market Capitalization	3,275	3,463	2,505	2,218	1,656	1,728	1,773	1,503	1,097
Book Value per Share	$22.87	$23.05	$21.52	$22.25	$21.75	$20.55	$21.16	$21.79	$21.57
Tangible Book Value per Share	$15.05	$15.20	$15.29	$16.05	$20.06	$18.75	$19.47	$19.90	$19.90
Total Capital	1,778	1,808	1,558	1,682	1,412	1,402	1,261	1,274	1,275
Total Debt	740	739	553	655	405	460	288	288	288
Total Long-Term Debt	739	737	513	615	404	459	287	287	287
Net Debt	133	171	123	108	-15	123	-51	-152	-107
Capital Expenditures (CapEx)	29	37	25	7.93	25	33	36	19	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	124	178	184	200	317	386	285	218	245
Debt-free Net Working Capital (DFNWC)	547	650	522	654	640	625	524	551	540
Net Working Capital (NWC)	546	649	482	614	639	624	523	550	539
Net Nonoperating Expense (NNE)	0.50	-3.95	-0.87	-6.78	-4.39	44	-4.50	-6.32	-3.16
Net Nonoperating Obligations (NNO)	133	171	123	108	-15	123	-51	-152	-107
Total Depreciation and Amortization (D&A)	31	31	30	28	24	22	20	21	30
Debt-free, Cash-free Net Working Capital to Revenue	3.07%	4.45%	5.09%	5.70%	7.24%	11.85%	8.88%	6.60%	9.65%
Debt-free Net Working Capital to Revenue	13.55%	16.27%	14.41%	18.62%	14.63%	19.20%	16.35%	16.70%	21.25%
Net Working Capital to Revenue	13.52%	16.24%	13.30%	17.48%	14.60%	19.16%	16.30%	16.65%	21.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.77)	$1.81	($0.70)	$0.60	$1.31	($0.39)	($0.53)	($1.13)	$1.67
Adjusted Weighted Average Basic Shares Outstanding	43.46M	43.70M	43.99M	43.88M	43.92M	43.89M	43.76M	44.49M	43.97M
Adjusted Diluted Earnings per Share	($0.77)	$1.57	($0.70)	$0.76	$1.13	($0.39)	($0.53)	($0.83)	$1.44
Adjusted Weighted Average Diluted Shares Outstanding	43.46M	52.37M	43.99M	52.57M	53.61M	43.89M	43.76M	52.33M	51.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.74M	43.71M	44.15M	43.97M	43.93M	43.92M	43.88M	43.74M	43.73M
Normalized Net Operating Profit after Tax (NOPAT)	-29	79	-31	0.06	52	17	-32	12	37
Normalized NOPAT Margin	-4.15%	6.18%	-4.66%	0.01%	4.64%	1.94%	-5.66%	0.66%	0.00%
Pre Tax Income Margin	-5.73%	8.58%	-5.80%	3.21%	7.16%	-1.65%	-6.29%	1.38%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-5.12	13.78	-5.14	3.65	15.04	0.55	-14.29	7.73	21.68
NOPAT to Interest Expense	-3.59	10.48	-3.75	2.28	10.89	0.37	-10.47	4.90	24.63
EBIT Less CapEx to Interest Expense	-8.82	8.89	-8.28	2.44	9.87	-0.06	-26.72	0.51	14.25
NOPAT Less CapEx to Interest Expense	-7.29	5.60	-6.88	1.07	5.72	-0.24	-22.90	-2.31	17.20
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.07%	17.10%	88.12%	77.10%	84.22%	65.61%	29.42%	29.51%	59.99%
Augmented Payout Ratio	57.70%	33.18%	169.99%	135.65%	148.07%	115.94%	98.76%	119.42%	240.51%

Frequently Asked Questions About Granite Construction's Financials

When does Granite Construction's financial year end?

According to the most recent income statement we have on file, Granite Construction's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Granite Construction's net income changed over the last 9 years?

Granite Construction's net income appears to be on an upward trend, with a most recent value of $140.44 million in 2024, rising from $68.25 million in 2015. The previous period was $29.59 million in 2023. Check out Granite Construction's forecast to explore projected trends and price targets.

What is Granite Construction's operating income?

Granite Construction's total operating income in 2024 was $207.36 million, based on the following breakdown:

Total Gross Profit: $572.70 million
Total Operating Expenses: $365.33 million

How has Granite Construction revenue changed over the last 9 years?

Over the last 9 years, Granite Construction's total revenue changed from $2.37 billion in 2015 to $4.01 billion in 2024, a change of 69.0%.

How much debt does Granite Construction have?

Granite Construction's total liabilities were at $1.95 billion at the end of 2024, a 8.9% increase from 2023, and a 157.2% increase since 2015.

How much cash does Granite Construction have?

In the past 9 years, Granite Construction's cash and equivalents has ranged from $189.33 million in 2016 to $578.33 million in 2024, and is currently $578.33 million as of their latest financial filing in 2024.

How has Granite Construction's book value per share changed over the last 9 years?

Over the last 9 years, Granite Construction's book value per share changed from 21.31 in 2015 to 23.23 in 2024, a change of 9.0%.

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This page (NYSE:GVA) was last updated on 5/22/2025 by MarketBeat.com Staff

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Granite Construction (GVA) Financials

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