Granite Construction (GVA) Financials

$77.77 -0.05 (-0.06%)

Closing price 03:59 PM Eastern

Extended Trading

$77.68 -0.09 (-0.12%)

As of 04:20 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	60	57	34	0.58	-60	-145	10	83	44	126
Consolidated Net Income / (Loss)	68	66	42	12	-57	-166	2.41	79	30	140
Net Income / (Loss) Continuing Operations	68	66	42	12	-28	-166	2.41	79	30	140
Total Pre-Tax Income	103	96	68	8.33	-40	-166	22	92	60	196
Total Operating Income	110	92	63	8.22	-42	-158	25	85	80	207
Total Gross Profit	300	301	279	335	190	345	363	369	396	573
Total Revenue	2,371	2,515	2,958	3,287	2,915	3,562	3,502	3,301	3,509	4,008
Operating Revenue	2,371	2,515	2,958	3,287	2,915	3,562	3,502	3,301	3,509	4,008
Total Cost of Revenue	2,071	2,213	2,680	2,952	2,725	3,218	3,139	2,932	3,113	3,435
Operating Cost of Revenue	2,071	2,213	2,680	2,952	2,725	3,218	3,139	2,932	3,113	3,435
Total Operating Expenses	190	209	216	327	232	503	338	284	316	365
Selling, General & Admin Expense	204	217	220	273	238	316	303	273	294	334
Other Operating Expenses / (Income)	-	-	-	-	6.74	37	101	24	50	40
Other Special Charges / (Income)	-8.29	-8.36	-4.18	-7.67	-13	-6.93	-66	-13	-28	-8.76
Total Other Income / (Expense), net	-6.88	4.01	5.75	0.11	1.50	-8.12	-2.59	6.44	-20	-11
Interest Expense	14	12	11	15	18	24	21	13	70	57
Interest & Investment Income	5.35	10	12	13	14	12	14	20	43	41
Other Income / (Expense), net	2.03	5.97	4.70	1.67	5.31	4.20	4.39	-1.04	6.02	4.24
Income Tax Expense	35	30	26	-3.21	-12	-0.28	20	13	30	56
Net Income / (Loss) Attributable to Noncontrolling Interest	7.76	9.08	8.34	11	3.49	-21	-7.68	-4.45	-14	14
Basic Earnings per Share	$1.54	$1.44	$0.86	$0.01	($1.29)	($3.18)	$0.22	$1.87	$0.99	$2.88
Weighted Average Basic Shares Outstanding	39.34M	39.56M	39.80M	43.56M	46.56M	45.61M	45.79M	44.49M	43.88M	43.85M
Diluted Earnings per Share	$1.52	$1.42	$0.84	$0.01	($1.29)	($3.18)	$0.21	$1.70	$0.97	$2.62
Weighted Average Diluted Shares Outstanding	39.87M	40.23M	40.37M	44.03M	46.56M	45.61M	47.60M	52.33M	52.57M	52.51M
Weighted Average Basic & Diluted Shares Outstanding	39.30M	39.70M	39.70M	46.69M	-	45.79M	45.88M	43.74M	43.97M	43.43M
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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024
Net Income / (Loss) Attributable to Common Shareholders	69	22	-23	-17	58	26	-31	79
Consolidated Net Income / (Loss)	65	19	-26	-24	57	22	-29	84
Net Income / (Loss) Continuing Operations	-110	195	-26	-24	57	22	-29	84
Total Pre-Tax Income	57	25	-35	-15	80	30	-39	109
Total Operating Income	55	17	-43	29	74	21	-43	104
Total Gross Profit	230	-18	32	103	167	94	54	203
Total Revenue	0.00	1,798	560	899	1,117	934	672	1,276
Operating Revenue	-	-	560	899	1,117	934	672	1,276
Total Cost of Revenue	0.00	1,586	528	795	950	839	618	1,073
Operating Cost of Revenue	-	-	528	795	950	839	618	1,073
Total Operating Expenses	121	20	76	74	93	74	98	99
Selling, General & Admin Expense	124	19	73	65	75	82	88	92
Other Operating Expenses / (Income)	-0.98	2.21	4.52	14	20	12	11	8.54
Other Special Charges / (Income)	-1.90	-1.21	-2.04	-3.94	-1.81	-21	-1.42	-1.54
Total Other Income / (Expense), net	5.58	5.39	8.01	-44	6.10	9.37	4.33	5.15
Interest Expense	2.52	2.62	2.89	55	4.88	6.56	8.08	7.63
Interest & Investment Income	5.39	7.20	8.95	10	11	13	11	12
Other Income / (Expense), net	-0.08	3.61	1.95	1.23	-0.46	3.31	1.74	0.87
Income Tax Expense	-7.71	5.65	-9.47	9.02	22	8.29	-9.53	25
Net Income / (Loss) Attributable to Noncontrolling Interest	-4.10	-2.88	-2.75	-6.85	-0.13	-4.29	1.54	5.03
Basic Earnings per Share	$3.16	($1.13)	($0.53)	($0.39)	$1.31	$0.60	($0.70)	$1.81
Weighted Average Basic Shares Outstanding	87.95M	44.49M	43.76M	43.89M	43.92M	43.88M	43.99M	43.70M
Diluted Earnings per Share	$2.72	($0.83)	($0.53)	($0.39)	$1.13	$0.76	($0.70)	$1.57
Weighted Average Diluted Shares Outstanding	103.73M	52.33M	43.76M	43.89M	53.61M	52.57M	43.99M	52.37M
Weighted Average Basic & Diluted Shares Outstanding	43.73M	43.74M	43.88M	43.92M	43.93M	43.97M	44.15M	43.71M

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

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

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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024
Total Assets	2,408	2,077	2,377	2,580	2,595	3,131
Total Current Assets	1,580	1,246	1,491	1,695	1,418	1,814
Cash & Equivalents	255	200	214	292	322	462
Short-Term Investments	40	40	25	31	16	10
Accounts Receivable	618	397	637	743	430	733
Inventories, net	81	98	92	92	117	108
Other Current Assets	585	512	523	536	534	501
Plant, Property, & Equipment, net	501	531	564	570	666	720
Total Noncurrent Assets	327	300	321	316	511	597
Long-Term Investments	100	100	98	97	93	95
Goodwill	74	74	79	74	161	212
Intangible Assets	-	-	-	-	113	132
Noncurrent Deferred & Refundable Income Taxes	46	22	31	29	8.11	4.99
Other Noncurrent Operating Assets	108	104	113	115	137	154
Total Liabilities & Shareholders' Equity	2,408	2,077	2,377	2,580	2,595	3,131
Total Liabilities	1,421	1,105	1,435	1,574	1,590	2,061
Total Current Liabilities	1,041	723	867	1,056	936	1,165
Short-Term Debt	1.44	1.46	1.47	1.48	40	1.10
Accounts Payable	398	295	382	477	347	510
Accrued Expenses	450	267	310	356	325	361
Other Current Liabilities	191	160	173	222	224	293
Total Noncurrent Liabilities	380	382	568	517	654	896
Long-Term Debt	287	287	459	404	513	737
Noncurrent Deferred & Payable Income Tax Liabilities	61	1.68	4.57	3.81	3.64	3.42
Other Noncurrent Operating Liabilities	33	93	105	110	137	156
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	987	972	941	1,007	1,005	1,070
Total Preferred & Common Equity	951	925	902	955	946	1,007
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	951	925	902	955	946	1,007
Common Stock	469	472	471	473	480	438
Retained Earnings	481	453	430	482	465	569
Accumulated Other Comprehensive Income / (Loss)	0.54	0.65	0.80	0.89	1.29	0.44
Noncontrolling Interest	36	47	40	51	58	63

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

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

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

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

Frequently Asked Questions About Granite Construction's Financials

When does Granite Construction's fiscal year end?

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

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 4/15/2025 by MarketBeat.com Staff

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Granite Construction (GVA) Financials

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