Granite Construction Incorporated (GVA) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Engineering & Construction
EV/EBITDA
↑
17.69
↑+21% vs avg
5yr avg: 14.64
30Y Low4.0·High77.2
P/FCF
↓
19.41
↓-38% vs avg
5yr avg: 31.55
30Y Low7.0·High75.0
P/B Ratio
↑
6.38
↑+105% vs avg
5yr avg: 3.11
30Y Low1.1·High5.0
ROE
↑
16.8%
↓+97% vs avg
5yr avg: 8.5%
30Y Low-13%·High17%
Debt/EBITDA
↑
3.82
↑+24% vs avg
5yr avg: 3.08
30Y Low0.5·High15.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GVA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Granite Construction Incorporated trades at 40.4x earnings, 37% below its 5-year average of 64.6x, sitting at the 81st percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 58%. On a free-cash-flow basis, the stock trades at 19.4x P/FCF, 38% below the 5-year average of 31.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.4B | $6.1B | $4.6B | $2.7B | $1.8B | $1.8B | $1.2B | $1.3B | $1.8B | $2.6B | $2.2B |
| Enterprise Value | $7.5B | $7.2B | $4.9B | $3.0B | $1.9B | $1.7B | $1.2B | $1.4B | $1.9B | $2.6B | $2.3B |
| P/E Ratio → | 40.41 | 31.78 | 33.48 | 61.28 | 20.63 | 175.91 | — | — | 41.96 | 75.51 | 38.73 |
| P/S Ratio | 1.45 | 1.39 | 1.15 | 0.76 | 0.56 | 0.51 | 0.34 | 0.44 | 0.53 | 0.86 | 0.88 |
| P/B Ratio | 6.38 | 5.02 | 4.27 | 2.60 | 1.86 | 1.78 | 1.23 | 1.09 | 1.27 | 2.58 | 2.40 |
| P/FCF | 19.41 | 18.54 | 14.40 | 61.71 | — | — | 6.95 | 279.45 | — | 32.62 | — |
| P/OCF | 13.68 | 13.07 | 10.09 | 14.55 | 32.98 | 80.80 | 4.54 | 11.56 | 20.53 | 17.52 | 30.25 |
P/E links to full P/E history page with 30-year chart
GVA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Granite Construction Incorporated's enterprise value stands at 17.7x EBITDA, 21% above its 5-year average of 14.6x. The Industrials sector median is 13.9x, placing the stock at a 28% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.63 | 1.21 | 0.85 | 0.57 | 0.50 | 0.33 | 0.50 | 0.57 | 0.85 | 0.90 |
| EV / EBITDA | 17.69 | 17.01 | 14.57 | 17.36 | 11.20 | 13.08 | — | 18.05 | 15.72 | 15.46 | 14.59 |
| EV / EBIT | 28.64 | 27.54 | 21.57 | 38.19 | 18.00 | 40.81 | — | — | 30.34 | 32.27 | 20.93 |
| EV / FCF | — | 21.84 | 15.19 | 69.04 | — | — | 6.69 | 314.31 | — | 32.50 | — |
GVA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Granite Construction Incorporated earns an operating margin of 5.9%, roughly in line with the Industrials sector average. Operating margins have expanded from 2.3% to 5.9% over the past 3 years, signaling improving operational efficiency. ROE of 16.8% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 10.8% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.1% | 16.1% | 14.3% | 11.3% | 11.2% | 10.4% | 9.7% | 6.5% | 11.7% | 10.5% | 12.0% |
| Operating Margin | 5.9% | 5.9% | 5.2% | 2.3% | 2.6% | 0.7% | -4.4% | -1.4% | 0.2% | 3.3% | 3.7% |
| Net Profit Margin | 4.4% | 4.4% | 3.2% | 1.2% | 2.5% | 0.3% | -4.1% | -2.1% | 0.0% | 1.1% | 2.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.8% | 16.8% | 12.0% | 4.3% | 8.4% | 1.0% | -13.4% | -4.7% | 0.0% | 3.6% | 6.4% |
| ROA | 5.5% | 5.5% | 4.3% | 1.8% | 3.6% | 0.4% | -5.9% | -2.4% | 0.0% | 1.9% | 3.4% |
| ROIC | 10.8% | 10.8% | 11.6% | 5.1% | 6.4% | 1.9% | -10.4% | -2.2% | 0.5% | 7.6% | 7.5% |
| ROCE | 11.5% | 11.5% | 11.0% | 5.1% | 6.1% | 1.7% | -10.2% | -2.5% | 0.6% | 8.2% | 7.8% |
GVA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Granite Construction Incorporated carries a Debt/EBITDA ratio of 3.8x, which is moderately leveraged (18% above the sector average of 3.2x). Net debt stands at $1.1B ($1.6B total debt minus $529M cash). Interest coverage of 5.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.33 | 1.33 | 0.77 | 0.72 | 0.34 | 0.37 | 0.38 | 0.36 | 0.27 | 0.23 | 0.26 |
| Debt / EBITDA | 3.82 | 3.82 | 2.50 | 4.27 | 2.02 | 2.79 | — | 5.27 | 3.19 | 1.36 | 1.57 |
| Net Debt / Equity | — | 0.90 | 0.24 | 0.31 | 0.05 | -0.02 | -0.05 | 0.14 | 0.08 | -0.01 | 0.06 |
| Net Debt / EBITDA | 2.58 | 2.58 | 0.76 | 1.84 | 0.27 | -0.17 | — | 2.00 | 0.92 | -0.06 | 0.35 |
| Debt / FCF | — | 3.31 | 0.80 | 7.33 | — | — | -0.27 | 34.86 | — | -0.12 | — |
| Interest Coverage | 5.55 | 5.55 | 7.72 | 4.24 | 8.27 | 2.07 | -5.88 | -1.23 | 4.26 | 7.32 | 8.76 |
GVA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.22x means Granite Construction Incorporated can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.60x to 1.22x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.22 | 1.22 | 1.66 | 1.60 | 1.69 | 1.71 | 1.54 | 1.64 | 1.82 | 1.88 | 2.05 |
| Quick Ratio | 1.13 | 1.13 | 1.56 | 1.49 | 1.58 | 1.65 | 1.48 | 1.53 | 1.70 | 1.78 | 1.95 |
| Cash Ratio | 0.41 | 0.41 | 0.70 | 0.61 | 0.65 | 0.55 | 0.65 | 0.57 | 0.79 | 0.84 | 0.95 |
| Asset Turnover | — | 1.10 | 1.32 | 1.25 | 1.52 | 1.40 | 1.50 | 1.16 | 1.34 | 1.60 | 1.45 |
| Inventory Turnover | 25.94 | 25.94 | 31.75 | 29.96 | 33.77 | 50.66 | 51.51 | 30.66 | 33.05 | 42.80 | 40.06 |
| Days Sales Outstanding | — | 71.55 | 76.51 | 89.63 | 78.05 | 63.58 | 58.37 | 95.02 | 73.58 | 71.27 | 71.48 |
GVA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Granite Construction Incorporated returns 1.0% to shareholders annually — split between a 0.3% dividend yield and 0.8% buyback yield. The payout ratio of 11.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.4% | 0.5% | 0.9% | 1.3% | 1.3% | 1.9% | 1.9% | 1.3% | 0.8% | 0.9% |
| Payout Ratio | 11.8% | 11.8% | 18.1% | 52.3% | 27.9% | 235.8% | — | — | 3852.9% | 60.6% | 36.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 3.1% | 3.0% | 1.6% | 4.8% | 0.6% | — | — | 2.4% | 1.3% | 2.6% |
| FCF Yield | 5.2% | 5.4% | 6.9% | 1.6% | — | — | 14.4% | 0.4% | — | 3.1% | — |
| Buyback Yield | 0.8% | 0.8% | 1.1% | 0.2% | 3.9% | 0.2% | 0.1% | 2.9% | 0.9% | 0.3% | 0.2% |
| Total Shareholder Yield | 1.0% | 1.2% | 1.6% | 1.0% | 5.1% | 1.5% | 2.0% | 4.8% | 2.2% | 1.1% | 1.2% |
| Shares Outstanding | — | $53M | $53M | $53M | $52M | $46M | $46M | $47M | $44M | $40M | $40M |
Peer Comparison
Compare GVA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GVAYou | $6B | 40.4 | 17.7 | 19.4 | 16.1% | 5.9% | 16.8% | 10.8% | 3.8 |
 VMC | $39B | 37.3 | 19.1 | 34.6 | 27.3% | 20.1% | 13.0% | 8.8% | 2.3 |
 MLM | $37B | 32.4 | 19.5 | 37.6 | 30.0% | 23.3% | 11.7% | 7.6% | 2.5 |
 CRH | $74B | 20.2 | 12.0 | 29.5 | 36.1% | 14.2% | 15.7% | 10.7% | 2.6 |
 ROAD | $7B | 66.7 | 21.8 | 45.2 | 15.6% | 8.5% | 13.7% | 10.3% | 4.4 |
 PRIM | $5B | 20.2 | 12.3 | 16.1 | 10.7% | 5.5% | 17.8% | 13.6% | 2.5 |
 STRL | $26B | 91.9 | 53.7 | 72.9 | 22.1% | 16.6% | 30.0% | 38.9% | 0.7 |
 ACM | $9B | 16.3 | 8.8 | 12.9 | 7.5% | 6.4% | 22.2% | 18.6% | 2.8 |
 PWR | $105B | 103.3 | 42.8 | 65.0 | 13.0% | 5.8% | 12.6% | 11.8% | 0.5 |
 MTZ | $30B | 74.9 | 29.9 | 104.7 | 9.6% | 4.6% | 12.6% | 8.9% | 2.6 |
 KBR | $4B | 10.2 | 9.2 | 8.6 | 14.8% | 7.3% | 27.9% | 10.4% | 4.2 |
| Industrials Median | — | 25.6 | 13.9 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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GVA — Frequently Asked Questions
Quick answers to the most common questions about buying GVA stock.
What is Granite Construction Incorporated's P/E ratio?
Granite Construction Incorporated's current P/E ratio is 40.4x. The historical average is 32.3x. This places it at the 81th percentile of its historical range.
What is Granite Construction Incorporated's EV/EBITDA?
Granite Construction Incorporated's current EV/EBITDA is 17.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
What is Granite Construction Incorporated's ROE?
Granite Construction Incorporated's return on equity (ROE) is 16.8%. The historical average is 7.7%.
Is GVA stock overvalued?
Based on historical data, Granite Construction Incorporated is trading at a P/E of 40.4x. This is at the 81th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Granite Construction Incorporated's dividend yield?
Granite Construction Incorporated's current dividend yield is 0.29% with a payout ratio of 11.8%.
What are Granite Construction Incorporated's profit margins?
Granite Construction Incorporated has 16.1% gross margin and 5.9% operating margin.
How much debt does Granite Construction Incorporated have?
Granite Construction Incorporated's Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.