15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 4.4% per year over the past 5 years.
Operating margin has expanded, at 6.4% in the latest year.
Free cash flow has grown 13.5% per year over the past 5 years.
Financial health
Total debt ($1.3B) exceeds cash ($529M); net debt is $810M.
Total debt has grown faster than revenue (31.6% vs 4.4% per year).
Operating income covered interest expense 6.0× in the latest year.
Total debt is 3.0× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 11.8% of earnings and 6.9% of free cash flow.
The dividend has declined 0.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$4.4B
$193M
16.1%
6.4%
$331M
$1.3B
$529M
2024
$4.0B
$126M
14.3%
5.2%
$320M
$739M
$578M
2023
$3.5B
$44M
11.3%
2.3%
$43M
$655M
$418M
2022
$3.3B
$83M
11.2%
2.6%
-$66M
$288M
$294M
2021
$3.5B
$10M
10.4%
0.7%
-$73M
$340M
$396M
2020
$3.6B
-$145M
9.7%
-4.4%
$175M
$339M
$425M
2019
$2.9B
-$60M
6.5%
-1.4%
$5M
$364M
$252M
2018
$3.3B
$582000
10.2%
0.2%
-$25M
$382M
$273M
2017
$3.0B
$34M
9.4%
2.1%
$79M
$225M
$234M
2016
$2.5B
$57M
12.0%
3.7%
-$18M
$244M
$189M
2015
—
$60M
—
—
$23M
$259M
$253M
2014
—
$25M
—
—
-$286000
$270M
$256M
2013
—
-$36M
—
—
-$38M
$270M
$229M
2012
—
$45M
—
—
$54M
$279M
$322M
2011
—
$51M
—
—
$47M
$218M
$257M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$912M
-$42M
12.0%
-3.4%
-$57M
$1.2B
$266M
Dec '25
$1.2B
$52M
14.4%
6.4%
$129M
$1.3B
$529M
Sep '25
$1.4B
$103M
18.2%
10.0%
$257M
$1.3B
$442M
Jun '25
$1.1B
$72M
17.7%
9.2%
-$27M
$740M
$322M
Mar '25
$700M
-$34M
12.0%
-5.7%
-$29M
$740M
$379M
Dec '24
$977M
$41M
15.4%
6.2%
$145M
$739M
$578M
Sep '24
$1.3B
$79M
15.9%
8.2%
$220M
$739M
$462M
Jun '24
$1.1B
$37M
15.2%
7.9%
-$41M
$739M
$367M
Mar '24
$672M
-$31M
8.1%
-6.4%
-$4M
$553M
$322M
Dec '23
$934M
$26M
10.1%
2.2%
$118M
$655M
$418M
Sep '23
$1.1B
$58M
14.9%
6.6%
$124M
$405M
$292M
Jun '23
$899M
-$17M
11.5%
3.2%
-$81M
$460M
$214M
Mar '23
$560M
-$23M
5.8%
-7.7%
-$117M
$288M
$200M
Dec '22
$789M
$22M
12.3%
1.1%
$46M
$288M
$294M
Sep '22
$1.0B
$69M
11.4%
5.4%
$64M
$288M
$255M
Jun '22
$849M
$19M
11.5%
3.5%
-$95M
$288M
$175M
Mar '22
$654M
-$27M
9.2%
-2.4%
-$81M
$299M
$361M
Dec '21
$806M
-$13M
7.8%
-0.2%
-$60M
$340M
$396M
Sep '21
$1.1B
$35M
11.3%
4.1%
$64M
$340M
$464M
Jun '21
$835M
$54M
14.0%
4.2%
-$97M
$340M
$378M
Valuation over time
How the market has priced GVA against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 21.6× (Mar '23) to 35.5× (Jun '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 1.5× (Jun '26).
The dividend yield has fallen from 1.3% (Mar '23) to 0.3% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is GVA growing its revenue and profit?
Over the past 5 years, Granite Construction Inc's revenue has grown 4.4% per year. These are computed facts, not advice.
How much debt does GVA have?
As of FY2025, Granite Construction Inc reported $1.3B of total debt against $529M of cash; operating income covered interest expense 6.0×.
What is GVA's profit margin?
In FY2025, gross margin was 16.1%, operating margin 6.4%, and net margin 4.4%.
What is GVA's P/E ratio?
As of Jun '26, Granite Construction Inc traded at a price-to-earnings ratio of about 35.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.