Granite Construction Incorporated (GVA) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
585 WEST BEACH ST WATSONVILLE, CA 95076 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 16 - Heavy Construction Other Than Building Construction Contractors (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 586 | 454 | 333 | 396 | 436 | 290 | |||
| Cash and cash equivalent | 578 | 418 | 294 | 396 | 436 | 262 | |||
| Short-term investments | 7 | 36 | 39 | 28 | |||||
| Receivables | 512 | 599 | 464 | 465 | 541 | 547 | |||
| Inventory, net of allowances, customer advances and progress billings | 108 | 104 | 87 | 62 | 82 | 89 | |||
| Inventory | 108 | 104 | 87 | 62 | 82 | 89 | |||
| Contract with customer, asset, after allowance for credit loss | 328 | 263 | 242 | 165 | 211 | ||||
| Disposal group, including discontinued operation | 393 | ||||||||
| Other current assets | 42 | 53 | 37 | 177 | 42 | 46 | |||
| Other undisclosed current assets | 141 | 171 | 184 | 335 | 189 | 193 | |||
| Total current assets: | 1,717 | 1,643 | 1,347 | 1,827 | 1,455 | 1,377 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 90 | 78 | 49 | 49 | 62 | 73 | |||
| Property, plant and equipment | 716 | 663 | 509 | 434 | 527 | 542 | |||
| Long-term investments and receivables | 94 | 93 | 107 | 39 | 80 | 89 | |||
| Long-term investments | 94 | 93 | 107 | 39 | 80 | 89 | |||
| Intangible assets, net (including goodwill) | 342 | 272 | 74 | 54 | 117 | 264 | |||
| Goodwill | 214 | 155 | 74 | 54 | 117 | 264 | |||
| Intangible assets, net (excluding goodwill) | 128 | 117 | |||||||
| Deferred income tax assets | 8 | 22 | 24 | 42 | 50 | ||||
| Other noncurrent assets | 67 | 56 | 59 | 68 | 96 | 107 | |||
| Total noncurrent assets: | 1,309 | 1,170 | 821 | 668 | 925 | 1,125 | |||
| TOTAL ASSETS: | 3,026 | 2,814 | 2,168 | 2,495 | 2,380 | 2,502 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 324 | 338 | 288 | 453 | 404 | 337 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 87 | 114 | 70 | ||
| Accounts payable | |||||||||
| Accrued liabilities | 245 | 248 | 210 | 126 | 126 | 109 | |||
| Other undisclosed accounts payable and accrued liabilities | 79 | 90 | 79 | 240 | 165 | 158 | |||
| Deferred revenue | 300 | 244 | 173 | 200 | 171 | 96 | |||
| Debt | 1 | 40 | 1 | 9 | 8 | 8 | |||
| Provision for loss on contracts | 11 | 16 | 21 | 30 | 28 | 9 | |||
| Asset retirement obligation | 7 | 6 | 2 | 2 | 6 | 4 | |||
| Disposal group, including discontinued operation | 83 | ||||||||
| Other undisclosed current liabilities | 389 | 387 | 312 | 292 | 325 | 388 | |||
| Total current liabilities: | 1,032 | 1,030 | 798 | 1,069 | 943 | 842 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 738 | 615 | 287 | 364 | 377 | 415 | |||
| Long-term debt, excluding current maturities | 738 | 615 | 287 | 331 | 331 | 356 | |||
| Liabilities, other than long-term debt | 176 | 142 | 98 | 66 | 68 | 67 | |||
| Deferred income tax liabilities | 14 | 4 | 2 | 2 | 3 | 4 | |||
| Other liabilities | 89 | 75 | 64 | 64 | 65 | 63 | |||
| Operating lease, liability | 74 | 64 | 32 | 33 | 47 | 59 | |||
| Total noncurrent liabilities: | 914 | 757 | 385 | 430 | 445 | 482 | |||
| Total liabilities: | 1,946 | 1,787 | 1,183 | 1,499 | 1,388 | 1,324 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,015 | 977 | 953 | 968 | 976 | 1,141 | |||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Additional paid in capital | 411 | 474 | 470 | 560 | 555 | 549 | |||
| Accumulated other comprehensive income (loss) | (1) | 1 | 1 | (3) | (5) | (3) | |||
| Retained earnings | 605 | 502 | 481 | 411 | 425 | 594 | |||
| Equity, attributable to noncontrolling interest | 64 | 50 | 32 | 28 | 16 | 37 | |||
| Total equity: | 1,079 | 1,027 | 985 | 996 | 992 | 1,178 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,026 | 2,814 | 2,168 | 2,495 | 2,380 | 2,502 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,008 | 3,509 | 3,301 | 3,010 | 3,562 | 3,446 | ||
| Cost of revenue (Cost of Product and Service Sold) | (3,435) | (3,113) | (2,932) | (2,704) | (3,218) | (3,224) | ||
| Gross profit: | 573 | 396 | 369 | 306 | 345 | 222 | ||
| Operating expenses | (325) | (266) | (260) | (223) | (503) | (305) | ||
| Other operating expense, net | (40) | (50) | (24) | (95) | ||||
| Other undisclosed operating income | 14 | |||||||
| Operating income (loss): | 207 | 80 | 85 | 1 | (158) | (83) | ||
| Nonoperating income (expense) | (11) | (20) | 6 | (11) | (8) | 6 | ||
| Investment income, nonoperating | 24 | 18 | 7 | 1 | 3 | 7 | ||
| Other nonoperating income (expense) | 4 | 6 | (1) | 5 | 4 | 5 | ||
| Interest and debt expense | (28) | (51) | (13) | (20) | (24) | (18) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 169 | 9 | 79 | (30) | (191) | (95) | ||
| Other undisclosed income from continuing operations before income taxes | 28 | 51 | 13 | 20 | 24 | 18 | ||
| Income (loss) from continuing operations before income taxes: | 196 | 60 | 92 | (9) | (166) | (77) | ||
| Income tax expense (benefit) | (56) | (30) | (13) | 1 | 0 | 20 | ||
| Income (loss) from continuing operations: | 140 | 30 | 79 | (8) | (166) | (57) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 2 | (166) | (57) | |
| Income from discontinued operations | 11 | |||||||
| Net income (loss): | 140 | 30 | 79 | 2 | (166) | (57) | ||
| Net income (loss) attributable to noncontrolling interest | (14) | 14 | 4 | 21 | (3) | |||
| Other undisclosed net income attributable to parent | 8 | |||||||
| Net income (loss) available to common stockholders, basic: | 126 | 44 | 83 | 10 | (145) | (60) | ||
| Interest on convertible debt | 11 | 8 | 6 | |||||
| Dilutive securities, effect on basic earnings per share | ||||||||
| Net income (loss) available to common stockholders, diluted: | 138 | 51 | 89 | 10 | (145) | (60) | ||
Comprehensive Income ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 140 | 30 | 79 | 2 | (166) | (57) | ||
| Other comprehensive income (loss) | (1) | 0 | 4 | 2 | (2) | (2) | ||
| Comprehensive income (loss): | 139 | 30 | 83 | 4 | (169) | (59) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (14) | 14 | 4 | 8 | 21 | (3) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 125 | 44 | 87 | 12 | (148) | (62) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.