GVA
Granite Construction Incorporated

Granite Construction IncorporatedGVA

Industrials · Engineering & Construction
120.52USD
-0.40%
Nov 08, 2026
GVA overview ready
Vertically integrated heavy civil contractor and materials supplier for U.S. Infrastructure
Granite is a vertically integrated heavy-civil contractor and construction-materials producer that executes public and private transportation, water, and related infrastructure projects, while supplying aggregates, asphalt, concrete, and recycled materials into its construction footprint and third-party customers.
Primary theme is improving
Engineering & Infrastructure Construction is improving (+11.9pp vs SPY over 21 sessions; 7 of 9 members ahead of SPY).
An early price trend
Longer-term context reads established trend, with a near-term setup of failed reclaim.
Fair valuation
The price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on public infrastructure spending levels.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 10

Conviction Level

PriceAction8.6BusinessPerformance4.0BusinessQuality6.2Valuation4.7ThemeMomentum7.0Decelerating — Revenue is still growing (+23% YoY), but growth has slowed for 2 consecutive quarters, down from +30%. Diluted EPS fell 97% year over year to $0.07. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+11.9pp
Theme return
+6.9%
Beating SPY
7 of 9
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

An early price trend
Longer-term context reads established trend, with a near-term setup of failed reclaim.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly SMA100. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$5.3B
Avg Volume (60D)
703.9K
60 sessions
Revenue Growth YoY
+10.4%
FY2025 vs FY2024
Gross Margin
+16.1%
Trailing twelve months
Operating Margin
+7.5%
Trailing twelve months
Free Cash Flow Yield
+8.3%
Distance from 200DMA
-4.7%
P/E
N/M
EV / EBITDA
10.9x
EV / Sales
1.2x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Decelerating

Revenue is still growing (+23% YoY), but growth has slowed for 2 consecutive quarters, down from +30%. Diluted EPS fell 97% year over year to $0.07.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthSlowing
+23%
$1.77B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +19%
  2. +30%
  3. +29%
  4. +23%
Earnings growthDeclining
-97%
Diluted EPS $0.07 vs $1.98 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +23%
  2. n/a
  3. n/a
  4. -97%
Operating marginExpanding
12.7%
+2.7 pp YoY · gross margin 19.0% (+0.8 pp)

Business Quality

6.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
Granite Construction Incorporated has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.

Company Research

Thesis
Granite is a vertically integrated heavy-civil contractor and construction-materials producer that executes public and private transportation, water, and related infrastructure projects, while supplying aggregates, asphalt, concrete, and recycled materials into its construction footprint and third-party customers.
Opportunity
Moderate opportunity
Public-agency and utility spending to renew and expand roads, bridges, airports, transit, flood-control, and water and wastewater assets, creating multi-year demand for heavy civil contractors and locally integrated construction-material suppliers.
Key risk
Dependence on public infrastructure spending levels.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Engineering & Construction
What they do

Granite Construction Incorporated provides infrastructure construction and materials solutions primarily in the U.S., operating through construction and materials segments focused on heavy civil projects and construction materials production.

How it earns

Project-based revenue from public and private infrastructure construction contracts and sales of construction materials.

Products & services
Heavy civil construction services
Aggregates
Asphalt
Concrete
Recycled construction materials
Customers & end markets
Public agencies
Municipal water agencies
Commercial water suppliers
Industrial facilities
Energy companies
Market position

A vertically integrated heavy-civil contractor and materials producer with a strong regional presence in the U.S. Infrastructure market.

Demand drivers
Medium cyclicality

Demand depends on public infrastructure spending cycles and private sector project activity.