Granite Construction Incorporated (GVA) Income Statement
GVA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGVA revenue and net income
Where GVA's revenue goes
2025Each bar shows an amount and its share of revenue. GVA kept 4.4% of revenue as net income.
GVA profit margins
GVA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.4% | +10.3% | +4.4% | +6.4% |
| Gross profit | +24.2% | +24.4% | +15.6% | +8.9% |
| Operating income | +26.5% | +53.3% | — | +9.0% |
| Net income | +52.8% | +32.3% | — | +12.3% |
| EPS (diluted) | +25.8% | +42.9% | +94.0% | +15.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GVA quarterly EPS vs estimates
Granite Construction beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 29, 2026 (estimate $3.21).
GVA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.42B | $4.01B | $3.51B | $3.30B | $3.50B | $3.56B | $3.32B | $3.32B | $2.99B | $2.51B |
| Cost of revenue | $3.71B | $3.43B | $3.11B | $2.93B | $3.14B | $3.22B | $2.93B | $2.93B | $2.67B | $2.21B |
| Gross profit | $711.2M | $572.7M | $396.4M | $369.5M | $362.6M | $344.8M | $389.2M | $389.2M | $314.9M | $301.4M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $407.6M | $334.2M | $294.5M | $281.2M | $303.0M | $316.3M | $272.8M | $272.8M | $220.4M | $207.3M |
| Total operating expenses | $449.0M | $365.3M | $316.3M | $296.7M | $337.9M | $503.1M | $272.8M | $272.8M | $216.2M | $209.0M |
| Operating income | $262.2M | $207.4M | $80.1M | $72.8M | $24.7M | −$158.3M | $64.0M | $8.2M | $98.7M | $92.4M |
| Interest income | $26.9M | $24.3M | $17.5M | $6.5M | $15.6M | $3.1M | $7.4M | $6.1M | $4.7M | $3.2M |
| Interest expense | $47.2M | $29.2M | $18.5M | $12.6M | $20.7M | $24.2M | $18.4M | $14.6M | $10.8M | $12.4M |
| Income before taxes | $288.8M | $196.2M | $59.9M | $91.8M | $22.1M | −$166.5M | $64.2M | $8.3M | $104.5M | $96.4M |
| Income taxes | $68.5M | $55.7M | $30.3M | $13.0M | $19.7M | −$282,000 | $10.4M | $10.4M | $28.7M | $30.2M |
| Net income | $193.0M | $126.3M | $43.6M | $83.3M | $10.1M | −$145.1M | $53.7M | $582,000 | $34.1M | $57.1M |
| EBITDA | $498.5M | $351.7M | $170.6M | $187.0M | $151.9M | −$29.3M | $187.5M | $173.6M | $145.4M | $172.7M |
| EPS (diluted) | $6.04 | $4.80 | $3.13 | $2.07 | $1.44 | $0.22 | −$1.62 | $1.86 | $1.70 | $1.39 |
| Gross margin | 16.1% | 14.3% | 11.3% | 11.2% | 10.4% | 9.7% | 11.7% | 11.7% | 10.5% | 12.0% |
| Operating margin | 5.9% | 5.2% | 2.3% | 2.2% | 0.7% | −4.4% | 1.9% | 0.2% | 3.3% | 3.7% |
| Net margin | 4.4% | 3.2% | 1.2% | 2.5% | 0.3% | −4.1% | 1.6% | 0.0% | 1.1% | 2.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.46B | $912.5M | $1.17B | $1.43B | $1.13B | $699.5M | $977.3M | $1.28B | $1.08B | $672.3M | $933.7M | $1.12B |
| Cost of revenue | $1.22B | $802.6M | $997.6M | $1.17B | $926.9M | $615.7M | $826.6M | $1.07B | $917.8M | $618.0M | $839.4M | $950.2M |
| Gross profit | $238.8M | $109.9M | $167.7M | $260.5M | $199.1M | $83.8M | $150.8M | $202.9M | $164.7M | $54.3M | $94.3M | $166.6M |
| Sales, general & admin | $107.8M | $140.9M | $104.1M | $101.6M | $85.9M | $115.9M | $92.8M | $91.6M | $72.4M | $88.0M | $82.5M | $74.8M |
| Total operating expenses | $113.2M | $144.0M | $106.8M | $116.9M | $95.5M | $123.6M | $94.6M | $98.7M | $78.9M | $97.6M | $73.7M | $92.8M |
| Operating income | $125.6M | −$34.1M | $60.9M | $143.7M | $103.6M | −$39.8M | $56.1M | $104.3M | $85.8M | −$43.3M | $20.6M | $73.8M |
| Interest income | $5.1M | $5.8M | $8.9M | $6.0M | $5.8M | $6.3M | $6.5M | $7.5M | $3.6M | $6.7M | $6.3M | $4.3M |
| Interest expense | $21.8M | $16.3M | $18.2M | $13.4M | $7.9M | $7.8M | $7.9M | $7.9M | $5.3M | $8.1M | $6.6M | $4.9M |
| Income before taxes | −$239.3M | −$48.5M | $73.8M | $147.5M | $107.6M | −$40.1M | $66.2M | $109.4M | $59.5M | −$39.0M | $30.0M | $79.9M |
| Income taxes | $32.2M | −$12.1M | $14.9M | $38.1M | $27.2M | −$11.8M | $19.1M | $25.5M | $20.7M | −$9.5M | $8.3M | $22.4M |
| Net income | −$278.2M | −$41.7M | $52.0M | $102.9M | $71.7M | −$33.7M | $41.5M | $79.0M | $36.9M | −$31.0M | $26.0M | $57.6M |
| EBITDA | −$170.5M | $9.8M | $140.8M | $209.1M | $150.7M | −$2.2M | $108.1M | $151.2M | $94.3M | −$1.8M | $63.7M | $108.6M |
| EPS (diluted) | $2.10 | $0.26 | $1.40 | $2.70 | $1.93 | $0.01 | $1.23 | $2.05 | $1.73 | −$0.21 | $0.82 | $1.69 |
| Gross margin | 16.4% | 12.0% | 14.4% | 18.2% | 17.7% | 12.0% | 15.4% | 15.9% | 15.2% | 8.1% | 10.1% | 14.9% |
| Operating margin | 8.6% | −3.7% | 5.2% | 10.0% | 9.2% | −5.7% | 5.7% | 8.2% | 7.9% | −6.4% | 2.2% | 6.6% |
| Net margin | −19.1% | −4.6% | 4.5% | 7.2% | 6.4% | −4.8% | 4.2% | 6.2% | 3.4% | −4.6% | 2.8% | 5.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GVA's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GVA financial results
In fiscal year 2025 (ended December 31, 2025), Granite Construction reported revenue of $4.4 billion, up 10.4% from the year before. It had net income of $193.0 million (up 52.8%), a net profit margin of 4.4%. Diluted earnings per share came to $6.04. Over five years revenue grew at an average rate of 4.4% a year.
See the GVA stock overview for the latest quote and news, or the GVA chart for price history and technical indicators.
GVA income statement FAQ
What is Granite Construction's annual revenue?
Granite Construction reported total revenue of $4.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 10.4% from $4.0 billion the previous year.
Is Granite Construction profitable?
Yes. Granite Construction reported net income of $193.0 million in fiscal 2025, a net profit margin of 4.4%; its operating margin was 5.9%.
What is Granite Construction's gross margin?
Granite Construction's gross margin was 16.1% in fiscal 2025: for every $100 of revenue, Granite Construction kept $16 after the direct cost of its products and services.
How fast is Granite Construction growing?
Revenue grew 4.4% a year on average over the last five fiscal years, from $3.6 billion to $4.4 billion.
What are Granite Construction's earnings per share?
Granite Construction earned $6.04 per diluted share in fiscal 2025, compared with $4.80 a year earlier.
When will Granite Construction report its next earnings?
Granite Construction is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Granite Construction's fiscal year end?
Granite Construction's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.