Granite Construction Incorporated (GVA) Key Metrics
GVA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.88B
- Enterprise value
- $5.77B
- P/E (TTM)
- — 10-yr median 37.6
- Forward P/E
- 13.9
- PEG ratio
- 0.11
- Price / sales
- 1.0 10-yr median 0.7
- Price / book
- 6.7 10-yr median 2.2
- EV / EBITDA
- 30.5 10-yr median 12.8
- Dividend yield
- 0.47% $0.52 a year
- Beta
- 1.35
GVA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsGVA valuation Price multiples at each fiscal year-end price.
GVA returns How much profit the business earns on the capital it uses.
GVA per-share figures Results divided by the shares outstanding at year-end.
GVA financial health Debt, liquidity and how easily interest is covered.
GVA efficiency & capital use Working capital cycle and where the cash goes.
GVA valuation history
GVA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GVA cash returned to shareholders
GVA price vs earnings per share
GVA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $6.13B | $4.61B | $2.67B | $1.84B | $1.77B | $1.22B | $1.26B | $1.77B | $2.56B | $2.21B |
| Enterprise value | $7.15B | $4.71B | $2.78B | $1.66B | $1.56B | $982.9M | $1.14B | $1.85B | $2.48B | $2.20B |
| P/E ratio | 31.8 | 36.5 | 61.3 | 22.0 | 175.5 | — | 23.4 | — | 75.1 | 38.7 |
| Price / sales | 1.4 | 1.1 | 0.8 | 0.6 | 0.5 | 0.3 | 0.4 | 0.5 | 0.9 | 0.9 |
| Price / book | 5.2 | 4.5 | 2.7 | 1.9 | 1.8 | 1.2 | 1.1 | 1.3 | 2.7 | 2.5 |
| Price / free cash flow | 18.5 | 14.4 | 61.7 | — | — | 264.3 | 13.6 | — | 32.6 | — |
| Price / operating cash flow | 13.1 | 10.1 | 14.6 | 33.0 | 80.8 | 10.9 | 11.3 | 20.5 | 17.5 | 30.2 |
| EV / sales | 1.6 | 1.2 | 0.8 | 0.5 | 0.4 | 0.3 | 0.3 | 0.6 | 0.8 | 0.9 |
| EV / EBITDA | 14.3 | 13.4 | 16.3 | 8.9 | 10.3 | — | 6.1 | 10.7 | 17.1 | 12.8 |
| EV / free cash flow | 21.6 | 14.7 | 64.3 | — | — | 213.2 | 12.3 | — | 31.6 | — |
| Earnings yield | 3.1% | 2.7% | 1.6% | 4.5% | 0.6% | −11.9% | 4.3% | 0.0% | 1.3% | 2.6% |
| Free cash flow yield | 5.4% | 6.9% | 1.6% | −3.6% | −4.1% | 0.4% | 7.4% | −1.4% | 3.1% | −0.8% |
| Dividend yield | 0.4% | 0.5% | 0.9% | 1.3% | 1.3% | 2.0% | 1.9% | 1.3% | 0.8% | 0.9% |
| Shareholder yield (dividends + buybacks) | 1.2% | 1.6% | 1.0% | 5.1% | 1.5% | 5.0% | 4.9% | 2.2% | 1.1% | 1.2% |
| Share price at fiscal year-end | $115.35 | $87.71 | $50.86 | $35.07 | $38.70 | $26.71 | $27.67 | $40.28 | $63.43 | $55.00 |
| Per share | ||||||||||
| Revenue per share | $83.27 | $76.31 | $66.76 | $63.09 | $76.48 | $78.10 | $72.93 | $75.38 | $74.05 | $62.51 |
| Earnings per share | $3.63 | $2.41 | $0.83 | $1.59 | $0.22 | −$3.18 | $1.18 | $0.01 | $0.85 | $1.42 |
| Operating cash flow per share | $8.83 | $8.69 | $3.49 | $1.06 | $0.48 | $2.44 | $2.45 | $1.96 | $3.62 | $1.82 |
| Free cash flow per share | $6.22 | $6.09 | $0.82 | −$1.26 | −$1.59 | $0.10 | $2.04 | −$0.56 | $1.94 | −$0.44 |
| Cash per share | $11.30 | $13.84 | $11.89 | $9.88 | $12.79 | $13.46 | $10.62 | $6.88 | $7.47 | $6.32 |
| Book value per share | $22.19 | $19.33 | $18.59 | $18.21 | $21.13 | $21.39 | $25.09 | $30.70 | $23.41 | $22.03 |
| Tangible book value per share | $11.27 | $12.81 | $13.41 | $16.63 | $19.75 | $19.98 | $18.24 | $23.32 | $21.68 | $20.24 |
| Dividends per share | $0.43 | $0.43 | $0.43 | $0.44 | $0.52 | $0.53 | $0.53 | $0.51 | $0.51 | $0.51 |
| Capex per share | $2.60 | $2.60 | $2.67 | $2.32 | $2.07 | $2.34 | $0.41 | $2.52 | $1.68 | $2.26 |
| Debt per share | $30.55 | $15.86 | $13.98 | $6.48 | $8.14 | $8.30 | $8.01 | $8.69 | $5.56 | $6.07 |
| Shares outstanding | 53.1M | 52.5M | 52.6M | 52.3M | 45.8M | 45.6M | 45.5M | 44.0M | 40.4M | 40.2M |
| Change in shares outstanding | +1.2% | −0.1% | +0.5% | +14.3% | +0.4% | +0.2% | +3.4% | +9.0% | +0.4% | +0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.6% | 12.7% | 4.5% | 8.7% | 1.0% | −13.7% | 4.3% | 0.1% | 3.7% | 6.6% |
| Return on invested capital (ROIC) | 12.0% | 13.4% | 4.3% | 8.2% | 1.7% | −14.2% | 4.4% | 0.4% | 8.2% | 8.6% |
| Return on assets (ROA) | 5.5% | 4.3% | 1.8% | 3.6% | 0.4% | −5.9% | 2.2% | 0.0% | 1.9% | 3.4% |
| Return on tangible assets | 5.6% | 4.7% | 1.7% | 4.0% | 0.4% | −6.3% | 2.5% | 0.0% | 1.9% | 3.4% |
| Free cash flow margin | 7.5% | 8.0% | 1.2% | −2.0% | −2.1% | 0.1% | 2.8% | −0.7% | 2.6% | −0.7% |
| Income quality (OCF / net income) | 2.43 | 3.61 | 4.21 | 0.67 | 2.17 | — | 2.07 | 148.44 | 4.29 | 1.28 |
| Financial health | ||||||||||
| Total debt | $1.62B | $832.9M | $735.1M | $339.2M | $372.8M | $378.6M | $364.4M | $382.4M | $224.5M | $244.3M |
| Cash & short-term investments | $600.2M | $726.6M | $624.8M | $517.2M | $585.6M | $614.1M | $483.2M | $302.8M | $301.5M | $254.2M |
| Net debt | $1.02B | $106.3M | $110.3M | −$178.0M | −$212.7M | −$235.5M | −$118.8M | $79.6M | −$77.0M | −$9.9M |
| Debt / equity | 1.38 | 0.82 | 0.75 | 0.36 | 0.39 | 0.39 | 0.32 | 0.28 | 0.24 | 0.28 |
| Debt / assets | 0.40 | 0.28 | 0.26 | 0.16 | 0.15 | 0.16 | 0.15 | 0.15 | 0.12 | 0.14 |
| Net debt / EBITDA | 2.05 | 0.30 | 0.65 | −0.95 | −1.40 | — | −0.63 | 0.46 | −0.53 | −0.06 |
| Current ratio | 1.22 | 1.66 | 1.60 | 1.69 | 1.71 | 1.54 | 1.64 | 1.82 | 1.88 | 2.05 |
| Quick ratio | 1.13 | 1.56 | 1.49 | 1.58 | 1.65 | 1.48 | 1.53 | 1.70 | 1.78 | 1.95 |
| Interest coverage | 5.6 | 7.1 | 4.3 | 5.8 | 1.2 | -6.5 | 3.5 | 0.6 | 9.1 | 7.5 |
| Working capital | $330.5M | $684.7M | $613.6M | $549.7M | $758.1M | $512.0M | $534.9M | $603.1M | $576.8M | $559.1M |
| Invested capital | $2.20B | $1.12B | $1.09B | $775.1M | $755.0M | $740.2M | $1.02B | $1.43B | $868.1M | $876.1M |
| Tangible asset value | $641.2M | $737.0M | $754.6M | $902.2M | $932.3M | $927.3M | $830.1M | $1.07B | $922.8M | $850.9M |
| Net current asset value | −$996.6M | −$229.6M | −$143.1M | $164.5M | $328.0M | $66.9M | $16.3M | $261.5M | $352.9M | $278.1M |
| Graham number | $42.59 | $32.35 | $18.63 | $25.54 | $10.24 | — | $25.82 | $3.02 | $21.10 | $26.53 |
| Graham net-net per share | −$27.98 | −$10.20 | −$8.82 | −$1.77 | −$9.29 | −$6.92 | −$9.28 | −$5.23 | −$2.69 | −$3.97 |
| Capital allocation | ||||||||||
| Dividends paid | $22.7M | $22.8M | $22.8M | $23.3M | $23.8M | $24.3M | $24.3M | $22.4M | $20.7M | $20.6M |
| Share buybacks (net) | $48.2M | $50.6M | $4.1M | $70.9M | $2.7M | $36.9M | $36.9M | $16.6M | $7.0M | $5.2M |
| Dividend payout ratio | 11.8% | 18.1% | 52.3% | 27.9% | 235.8% | — | 45.2% | — | 60.6% | 36.0% |
| Dividends + buybacks / free cash flow | 21.5% | 23.0% | 62.2% | — | — | — | 66.0% | — | 35.2% | — |
| Capex / revenue | 3.1% | 3.4% | 4.0% | 3.7% | 2.7% | 3.0% | 0.6% | 3.3% | 2.3% | 3.6% |
| Capex / operating cash flow | 29.5% | 29.9% | 76.4% | 218.5% | 432.3% | 95.9% | 16.8% | 128.6% | 46.3% | 124.4% |
| Capex / depreciation | 0.85 | 1.08 | 1.52 | 1.47 | 3.08 | 0.50 | 0.15 | 1.00 | 1.02 | 1.41 |
| Stock-based compensation / revenue | 0.9% | 0.5% | 0.3% | 0.2% | 0.2% | 0.3% | 0.3% | 0.4% | 0.5% | 0.5% |
| SG&A / revenue | 9.2% | 8.3% | 8.4% | 8.5% | 8.7% | 8.9% | 8.2% | 8.2% | 7.4% | 8.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 70.4 | 77.5 | 81.5 | 72.7 | 61.5 | 57.2 | 66.9 | 68.9 | 65.7 | 64.8 |
| Days of inventory on hand | 12.4 | 11.3 | 11.2 | 9.3 | 7.2 | 8.6 | 11.1 | 9.4 | 8.0 | 9.1 |
| Days payables outstanding | 41.2 | 43.3 | 43.5 | 41.0 | 37.5 | 60.1 | 62.0 | 30.8 | 29.8 | 29.4 |
| Cash conversion cycle (days) | 41.6 | 45.4 | 49.2 | 41.0 | 31.2 | 5.7 | 16.0 | 47.5 | 43.9 | 44.5 |
| Receivables turnover | 5.18 | 4.71 | 4.48 | 5.02 | 5.94 | 6.38 | 5.46 | 5.30 | 5.56 | 5.64 |
| Payables turnover | 8.87 | 8.42 | 8.38 | 8.90 | 9.72 | 6.07 | 5.89 | 11.85 | 12.25 | 12.41 |
| Inventory turnover | 29.55 | 32.39 | 32.64 | 39.41 | 50.46 | 42.52 | 33.00 | 38.77 | 45.43 | 39.95 |
| Asset turnover | 1.25 | 1.37 | 1.41 | 1.42 | 1.44 | 1.46 | 1.33 | 1.53 | 1.66 | 1.50 |
| Average receivables | $853.7M | $850.9M | $783.8M | $658.0M | $589.8M | $558.5M | $608.2M | $626.4M | $538.1M | $446.2M |
| Average payables | $418.8M | $407.8M | $371.4M | $329.4M | $322.8M | $529.7M | $497.4M | $247.2M | $218.4M | $178.3M |
| Average inventory | $125.7M | $106.0M | $95.4M | $74.4M | $62.2M | $75.7M | $88.8M | $75.6M | $58.9M | $55.4M |
| Intangibles / total assets | 14.4% | 11.3% | 9.7% | 3.8% | 2.5% | 2.7% | 12.4% | 13.1% | 3.7% | 4.1% |
Computed from GVA's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
GVA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Granite Construction traded at 31.8 times earnings, against a 10-year median of 37.6. Granite Construction earned a return on equity of 17.6% and a return on invested capital of 12.0% in fiscal 2025. It ended the year with $1.6 billion of debt and $600.2 million in cash and short-term investments, net debt of $1.0 billion. It returned $70.9 million to shareholders: $22.7 million in dividends and $48.2 million in share buybacks, 21% of free cash flow. The share count rose 32.1% from 40.2M to 53.1M over 9 years.
See the GVA income statement, the GVA chart for price history, or the GVA stock overview for the latest quote and news.
GVA key metrics FAQ
What is Granite Construction's P/E ratio?
Granite Construction traded at 31.8 times earnings at the end of fiscal 2025.
What is Granite Construction's EV/EBITDA?
Granite Construction's enterprise value was 14.3 times EBITDA at the end of fiscal 2025 (enterprise value $7.2 billion, EBITDA $498.5 million); the current EV/EBITDA is 30.5.
What is Granite Construction's return on equity?
Granite Construction's return on equity (ROE) was 17.6% in fiscal 2025: net income of $193.0 million on average shareholders' equity of $1.1 billion.
What is Granite Construction's ROIC?
Granite Construction's return on invested capital was 12.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Granite Construction have?
Granite Construction had total debt of $1.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.38 and $1.0 billion of net debt (2.05 times EBITDA).
What is Granite Construction's dividend yield?
Granite Construction's forward dividend yield is 0.47%. Granite Construction paid $22.7 million in dividends in fiscal 2025 ($0.43 per share), a payout ratio of 11.8%.
Does Granite Construction buy back its shares?
Yes. Granite Construction spent $48.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.2% over the year, to 53.1M..
What is Granite Construction's free cash flow yield?
Granite Construction generated $330.6 million of free cash flow in fiscal 2025, a free cash flow yield of 5.4% on its market value at year-end ($6.1 billion).
What is Granite Construction's current ratio?
Granite Construction's current ratio was 1.22 at the end of fiscal 2025: current assets were 1.22 times current liabilities.