Granite Construction
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Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The last earnings update was 24 days ago. More info.
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GVA Share Price and Events
7 Day Returns
1 Year Returns
GVA Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Granite Construction (GVA) | -1.3% | 3% | 14.9% | -20.5% | 4.4% | 16.5% |
| US Construction | 2.3% | 2.9% | 18.1% | -8.7% | 23.6% | -4.4% |
| US Market | 2.4% | 1.7% | 11.9% | 1.9% | 38.2% | 42.4% |
1 Year Return vs Industry and Market
- GVA underperformed the Construction industry which returned -8.7% over the past year.
- GVA underperformed the Market in United States of America which returned 1.9% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Granite Construction
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Granite Construction.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.7% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Construction Unlevered Beta | Simply Wall St/ S&P Global | 1.1 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.099 (1 + (1- 21%) (17.49%)) |
1.168 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.17 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.168 * 5.96%) |
9.69% |
Discounted Cash Flow Calculation for NYSE:GVA using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Granite Construction is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.69%) |
|
|---|---|---|---|
| 2019 | 75.00 | Analyst x1 | 68.37 |
| 2020 | 125.00 | Analyst x1 | 103.89 |
| 2021 | 165.03 | Est @ 32.02% | 125.04 |
| 2022 | 203.37 | Est @ 23.23% | 140.48 |
| 2023 | 238.11 | Est @ 17.08% | 149.95 |
| 2024 | 268.53 | Est @ 12.78% | 154.17 |
| 2025 | 294.75 | Est @ 9.76% | 154.27 |
| 2026 | 317.31 | Est @ 7.65% | 151.40 |
| 2027 | 336.90 | Est @ 6.18% | 146.55 |
| 2028 | 354.23 | Est @ 5.14% | 140.48 |
| Present value of next 10 years cash flows | $1,334.60 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $354.23 × (1 + 2.73%) ÷ (9.69% – 2.73%) |
$5,228.23 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $5,228.23 ÷ (1 + 9.69%)10 |
$2,073.35 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,334.60 + $2,073.35 |
$3,407.95 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $3,407.95 / 46.69 |
$72.99 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $72.99 |
| Current discount | Discount to share price of
$46.84
= -1 x ($46.84 - $72.99) / $72.99 |
35.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Granite Construction's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Granite Construction's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Granite Construction's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Granite Construction's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.97 |
| NYSE:GVA Share Price ** | NYSE (2019-03-18) in USD | $46.84 |
| United States of America Construction Industry PE Ratio | Median Figure of 29 Publicly-Listed Construction Companies | 17.29x |
| United States of America Market PE Ratio | Median Figure of 3,055 Publicly-Listed Companies | 17.61x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Granite Construction.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:GVA Share Price ÷ EPS (both in USD) = 46.84 ÷ 0.97 |
48.11x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Granite Construction is overvalued based on earnings compared to the US Construction industry average.
- Granite Construction is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Granite Construction's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 48.11x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
28.7%per year |
| United States of America Construction Industry PEG Ratio | Median Figure of 25 Publicly-Listed Construction Companies | 1.15x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.48x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 48.11x ÷ 28.7% |
1.68x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Granite Construction is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Granite Construction's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $28.96 |
| NYSE:GVA Share Price * | NYSE (2019-03-18) in USD | $46.84 |
| United States of America Construction Industry PB Ratio | Median Figure of 34 Publicly-Listed Construction Companies | 1.88x |
| United States of America Market PB Ratio | Median Figure of 5,152 Publicly-Listed Companies | 1.87x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:GVA Share Price ÷ Book Value per Share (both in USD) = 46.84 ÷ 28.96 |
1.62x |
* Primary Listing of Granite Construction.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Granite Construction is good value based on assets compared to the US Construction industry average.
Value checks
We assess Granite Construction's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check) Granite Construction has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Granite Construction's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Granite Construction's earnings growth is expected to exceed the United States of America market average.
- Granite Construction's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:GVA Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 28.7% |
| NYSE:GVA Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 9.2% |
| United States of America Construction Industry Earnings Growth Rate | Market Cap Weighted Average | 23.4% |
| United States of America Construction Industry Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 5,348 | 341 | 1 | |
| 2022-12-31 | 5,014 | 306 | 1 | |
| 2021-12-31 | 4,425 | 240 | 3 | |
| 2020-12-31 | 4,121 | 255 | 211 | 6 |
| 2019-12-31 | 3,749 | 200 | 160 | 5 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 3,318 | 86 | 42 |
| 2018-09-30 | 3,227 | 96 | 69 |
| 2018-06-30 | 3,129 | 48 | 59 |
| 2018-03-31 | 3,085 | 95 | 81 |
| 2017-12-31 | 2,990 | 146 | 69 |
| 2017-09-30 | 2,855 | 157 | 52 |
| 2017-06-30 | 2,702 | 149 | 44 |
| 2017-03-31 | 2,544 | 97 | 44 |
| 2016-12-31 | 2,515 | 73 | 57 |
| 2016-09-30 | 2,478 | 56 | 70 |
| 2016-06-30 | 2,426 | 71 | 63 |
| 2016-03-31 | 2,390 | 63 | 59 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
All data from Granite Construction Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 6.72 | 6.72 | 6.72 | 1.00 |
| 2022-12-31 | 6.09 | 6.09 | 6.09 | 1.00 |
| 2021-12-31 | 4.95 | 5.15 | 4.75 | 2.00 |
| 2020-12-31 | 4.41 | 4.55 | 4.36 | 5.00 |
| 2019-12-31 | 3.35 | 3.69 | 3.15 | 5.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.97 |
| 2018-09-30 | 1.64 |
| 2018-06-30 | 1.48 |
| 2018-03-31 | 2.04 |
| 2017-12-31 | 1.74 |
| 2017-09-30 | 1.32 |
| 2017-06-30 | 1.10 |
| 2017-03-31 | 1.11 |
| 2016-12-31 | 1.44 |
| 2016-09-30 | 1.76 |
| 2016-06-30 | 1.60 |
| 2016-03-31 | 1.49 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Granite Construction's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Granite Construction has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Granite Construction performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Granite Construction has delivered over 20% year on year earnings growth in the past 5 years.
- Granite Construction's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Granite Construction's 1-year earnings growth is negative, it can't be compared to the US Construction industry average.
Earnings and Revenue History
All data from Granite Construction Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 3,318.41 | 42.41 | 272.78 | |
| 2018-09-30 | 3,227.36 | 68.64 | 253.42 | |
| 2018-06-30 | 3,128.90 | 58.95 | 232.15 | |
| 2018-03-31 | 3,084.69 | 81.47 | 222.23 | |
| 2017-12-31 | 2,989.71 | 69.10 | 220.40 | |
| 2017-09-30 | 2,855.12 | 52.50 | 222.99 | |
| 2017-06-30 | 2,701.90 | 43.71 | 227.69 | |
| 2017-03-31 | 2,543.57 | 43.77 | 225.00 | |
| 2016-12-31 | 2,514.62 | 57.12 | 217.37 | |
| 2016-09-30 | 2,478.10 | 69.62 | 219.04 | |
| 2016-06-30 | 2,425.57 | 63.19 | 210.11 | |
| 2016-03-31 | 2,390.23 | 58.60 | 208.93 | |
| 2015-12-31 | 2,371.03 | 60.49 | 203.82 | |
| 2015-09-30 | 2,330.66 | 48.79 | 191.84 | |
| 2015-06-30 | 2,299.04 | 33.31 | 193.97 | |
| 2015-03-31 | 2,315.67 | 37.34 | 197.54 | |
| 2014-12-31 | 2,275.27 | 25.35 | 193.26 | |
| 2014-09-30 | 2,283.58 | -20.53 | 195.10 | |
| 2014-06-30 | 2,303.57 | -22.77 | 193.24 | |
| 2014-03-31 | 2,268.04 | -34.99 | 188.93 | |
| 2013-12-31 | 2,266.90 | -36.42 | 191.86 | |
| 2013-09-30 | 2,173.58 | 10.36 | 202.38 | |
| 2013-06-30 | 2,162.31 | 34.26 | 198.77 | |
| 2013-03-31 | 2,151.58 | 34.79 | 192.77 | |
| 2012-12-31 | 2,083.04 | 45.00 | 180.70 | |
| 2012-09-30 | 2,117.81 | 45.62 | 168.83 | |
| 2012-06-30 | 2,117.90 | 44.66 | 166.02 | |
| 2012-03-31 | 2,062.96 | 47.66 | 164.02 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Granite Construction has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Granite Construction used its assets less efficiently than the US Construction industry average last year based on Return on Assets.
- Granite Construction's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Granite Construction's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Granite Construction has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Granite Construction's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Granite Construction's finances.
The net worth of a company is the difference between its assets and liabilities.
- Granite Construction is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Granite Construction's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 3.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Granite Construction Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 1,397.63 | 382.41 | 585.04 |
| 2018-09-30 | 1,406.40 | 433.72 | 540.76 |
| 2018-06-30 | 1,300.99 | 488.69 | 468.50 |
| 2018-03-31 | 964.89 | 223.31 | 490.56 |
| 2017-12-31 | 992.81 | 224.50 | 550.71 |
| 2017-09-30 | 951.81 | 240.72 | 476.49 |
| 2017-06-30 | 910.08 | 241.91 | 457.04 |
| 2017-03-31 | 896.06 | 243.10 | 474.01 |
| 2016-12-31 | 922.59 | 244.29 | 502.19 |
| 2016-09-30 | 906.19 | 256.81 | 469.37 |
| 2016-06-30 | 869.02 | 258.80 | 443.39 |
| 2016-03-31 | 855.74 | 259.39 | 483.68 |
| 2015-12-31 | 870.12 | 259.12 | 503.17 |
| 2015-09-30 | 836.51 | 275.95 | 461.14 |
| 2015-06-30 | 808.28 | 276.26 | 415.62 |
| 2015-03-31 | 802.70 | 276.56 | 457.96 |
| 2014-12-31 | 817.11 | 276.87 | 466.34 |
| 2014-09-30 | 807.06 | 277.20 | 376.38 |
| 2014-06-30 | 793.54 | 277.50 | 360.22 |
| 2014-03-31 | 764.73 | 277.81 | 414.97 |
| 2013-12-31 | 786.34 | 278.12 | 441.76 |
| 2013-09-30 | 828.82 | 279.36 | 396.42 |
| 2013-06-30 | 834.17 | 279.67 | 417.83 |
| 2013-03-31 | 847.93 | 290.26 | 476.88 |
| 2012-12-31 | 871.86 | 290.13 | 483.88 |
| 2012-09-30 | 849.27 | 229.61 | 432.40 |
| 2012-06-30 | 809.13 | 230.24 | 389.03 |
| 2012-03-31 | 812.77 | 238.74 | 388.62 |
- Granite Construction's level of debt (27.4%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (35.4% vs 27.4% today).
- Debt is well covered by operating cash flow (22.6%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 15.8x coverage).
Financial health checks
We assess Granite Construction's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Granite Construction has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Granite Construction's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Granite Construction
shares you are expected to receive
$22
in your first year as a dividend.
Dividend Amount
- Granite Construction's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
- Granite Construction's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Upcoming dividend payment
Purchase Granite Construction on or before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| United States of America Construction Industry Average Dividend Yield | Market Cap Weighted Average of 12 Stocks | 1.1% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2004 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 2.09 | 1.00 |
| 2022-12-31 | 1.91 | 1.00 |
| 2021-12-31 | 0.78 | 3.00 |
| 2020-12-31 | 0.41 | 3.00 |
| 2019-12-31 | 0.44 | 4.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-06 | 0.520 | 1.132 |
| 2018-12-13 | 0.520 | 1.238 |
| 2018-09-12 | 0.520 | 1.124 |
| 2018-06-07 | 0.520 | 1.019 |
| 2018-02-06 | 0.520 | 0.907 |
| 2017-12-07 | 0.520 | 0.802 |
| 2017-09-13 | 0.520 | 0.854 |
| 2017-06-08 | 0.520 | 1.025 |
| 2017-02-09 | 0.520 | 1.029 |
| 2016-12-08 | 0.520 | 0.926 |
| 2016-09-08 | 0.520 | 1.039 |
| 2016-06-09 | 0.520 | 1.095 |
| 2016-02-11 | 0.520 | 1.197 |
| 2015-12-14 | 0.520 | 1.313 |
| 2015-09-10 | 0.520 | 1.490 |
| 2015-06-04 | 0.520 | 1.496 |
| 2015-02-05 | 0.520 | 1.472 |
| 2014-12-19 | 0.520 | 1.437 |
| 2014-09-11 | 0.520 | 1.507 |
| 2014-06-05 | 0.520 | 1.483 |
| 2014-02-07 | 0.520 | 1.413 |
| 2013-12-19 | 0.520 | 1.524 |
| 2013-09-12 | 0.520 | 1.681 |
| 2013-06-05 | 0.520 | 1.732 |
| 2013-01-17 | 0.520 | 1.652 |
| 2012-08-09 | 0.520 | 1.742 |
| 2012-05-23 | 0.520 | 2.118 |
| 2012-01-19 | 0.520 | 1.912 |
| 2011-11-10 | 0.520 | 2.125 |
| 2011-08-11 | 0.520 | 2.561 |
| 2011-05-19 | 0.520 | 2.154 |
| 2011-01-20 | 0.520 | 1.905 |
| 2010-11-04 | 0.520 | 1.932 |
| 2010-08-05 | 0.520 | 2.237 |
| 2010-05-06 | 0.520 | 1.981 |
| 2010-01-14 | 0.520 | 1.688 |
| 2009-11-05 | 0.520 | 1.617 |
| 2009-08-06 | 0.520 | 1.690 |
| 2009-05-14 | 0.520 | 1.515 |
| 2009-03-19 | 0.520 | 1.317 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- No dividend growth in 10 years.
Income/ dividend checks
We assess Granite Construction's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Granite Construction afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Granite Construction has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $4,407,395 |
| AGE | 61 |
| TENURE AS CEO | 8.5 years |
CEO Bio
Mr. James Hildebrand Roberts, also known as Jim, has been the Chief Executive Officer and President of Granite Construction Incorporated since September 1, 2010 and as its Interim Chief Operating Officer since June 22, 2017. Mr. Roberts served as the Chief Operating Officer of Granite Construction Incorporated from September 1, 2009 to August 2010 and served as its Executive Vice President from September 1, 2009 to August 31, 2010, Senior Vice President from May 24, 2004 to September 2009 and Manager of Granite West Division from February 2007 to September 2009. He served as Branch Division Manager of Granite Construction Incorporated from May 24, 2004 to February 2007. He joined Granite in 1981 and served as its Vice President and Assistant Branch Division Manager from 1999 to 2004 and Regional Manager of Nevada and Utah Operations from 1995 to 1999. Mr. Roberts has been a Director of Granite Construction Incorporated since April 8, 2011. Mr. Roberts received a B.S.C.E. in 1979 and an M.S.C.E. in 1980 from the University of California, Berkeley and an MBA from the University of Southern California in 1981. He completed an Executive Program at Stanford University in 2009.
CEO Compensation
- Jim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
- Jim's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Granite Construction management team in years:
- The tenure for the Granite Construction management team is about average.
Management Team
Jim Roberts
President
$4M
61
8.5 yrs
James Richards
Senior VP & Northwest Group Manager
$2M
54
6.2 yrs
Dale Swanberg
Senior VP & Large Projects Group Manager
$836K
55
2.2 yrs
Kyle Larkin
Senior VP & California Group Manager
$692K
46
1.4 yrs
Jigisha Desai
Senior VP & CFO
51
0.7 yrs
Carlos Alegre
Senior Vice President of Operations Services
1.2 yrs
Ron Botoff
Vice President of Investor Relations & Government Affairs
5.8 yrs
M. Hall
Senior VP
0.6 yrs
Phil DeCocco
Senior Vice President of Human Resources
8.2 yrs
Richard Watts
Senior VP and Group Manager of Water & Mineral Services
55
Board of Directors Tenure
Average tenure and age of the Granite Construction board of directors in years:
- The average tenure for the Granite Construction board of directors is less than 3 years, this suggests a new board.
Board of Directors
Claes Bjork
Chairman of the Board
$206K
72
0.8 yrs
Jim Roberts
President
$4M
61
7.9 yrs
David Kelsey
Independent Director
$207K
67
16.2 yrs
Jim Bradford
Independent Director
$209K
71
13.2 yrs
Gaddi Vasquez
Independent Director
$186K
63
6.4 yrs
Mike McNally
Independent Director
$191K
63
3.1 yrs
David Darnell
Director
$210K
65
2.1 yrs
Patricia Galloway
Director
$210K
60
2.1 yrs
Celeste Mastin
Director
$206K
49
2.1 yrs
Alan Krusi
Director
63
0.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28. Nov 18 | Sell | James Roberts | Individual | 27. Nov 18 | 27. Nov 18 | -1,100 | $52.55 | $-57,805 | ||
| 27. Nov 18 | Sell | James Roberts | Individual | 26. Nov 18 | 26. Nov 18 | -2,200 | $53.08 | $-116,776 | ||
| 14. Aug 18 | Buy | Claes Bjork | Individual | 14. Aug 18 | 14. Aug 18 | 6,500 | $44.25 | $287,625 | ||
Management checks
We assess Granite Construction's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Granite Construction has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Is Now The Time To Look At Buying Granite Construction Incorporated (NYSE:GVA)?
Granite Construction Incorporated (NYSE:GVA), which is in the construction business, and is based in United States,. … As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Today I will analyse the most recent data on Granite Construction’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleDid You Miss Granite Construction's 33% Share Price Gain?
Furthermore, you'd generally like to see the share price rise faster than the market. … Unfortunately for shareholders, while the Granite Construction Incorporated (NYSE:GVA) share price is up 33% in the last five years, that's less than the market return. … One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price.
Simply Wall St - – Full articleWhy We’re Not Keen On Granite Construction Incorporated’s (NYSE:GVA) 7.1% Return On Capital
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleDespite Its High P/E Ratio, Is Granite Construction Incorporated (NYSE:GVA) Still Undervalued?
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … To keep it practical, we'll show how Granite Construction Incorporated's (NYSE:GVA) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleAn Examination Of Granite Construction Incorporated (NYSE:GVA)
Granite Construction Incorporated (NYSE:GVA) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of GVA, it
Simply Wall St - – Full articleGranite Construction Incorporated (NYSE:GVA) Investors Are Paying Above The Intrinsic Value
I am going to run you through how I calculated the intrinsic value of Granite Construction Incorporated (NYSE:GVA). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleHow Financially Strong Is Granite Construction Incorporated (NYSE:GVA)?
Granite Construction Incorporated (NYSE:GVA) is a small-cap stock with a market capitalization of US$1.8b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes.
Simply Wall St - – Full articleHave Insiders Been Buying Granite Construction Incorporated (NYSE:GVA) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Granite Construction Incorporated (NYSE:GVA). … Granite Construction Insider Transactions Over The Last Year. … That means that an insider was happy to buy shares at above the current price.
Simply Wall St - – Full articleWhy Granite Construction Incorporated (NYSE:GVA) Is A Financially Healthy Company
Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Granite Construction Incorporated (NYSE:GVA), with a market cap of US$2.4b, often get neglected by retail investors. … Don’t forget that this is a general and concentrated examination of Granite Construction's financial health, so you should conduct further analysis. … Check out our latest analysis for Granite Construction
Simply Wall St - – Full articleIs Granite Construction Incorporated's (NYSE:GVA) CEO Salary Justified?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Jim Roberts's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Granite Construction Incorporated has a market cap of US$2.4b, and is paying total annual CEO compensation of US$4.4m
Simply Wall St - – Full articleCompany Info
Description
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports. The Water segment focuses on water-related construction and water management solutions, as well as provides trenchless cured-in-place pipe rehabilitation services. The Specialty segment constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, and power projects; and undertakes bid-build, design-build, and construction management/general contractor contracts. The Materials segment focuses on production of aggregates, asphalt, and construction related materials, as well as sanitary and storm water rehabilitation products, such as cured-in-place pipe felt and fiberglass-based lining tubes. The company also engages in the construction of streets, highways, mass transit facilities, trenchless and underground utilities, tunnels, dams, and other infrastructure-related projects. In addition, it performs site preparation and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities; and provides construction management professional services. The company serves federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers, brokers, and private owners of industrial, commercial, and residential sites. Granite Construction Incorporated was founded in 1922 and is headquartered in Watsonville, California.
Details
| Name: | Granite Construction Incorporated |
| GVA | |
| Exchange: | NYSE |
| Founded: | 1922 |
| $2,186,959,600 | |
| 46,690,000 | |
| Website: | http://www.graniteconstruction.com |
| Address: |
Granite Construction Incorporated 585 West Beach Street, Watsonville, California, 95076, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | GVA | Common Stock | New York Stock Exchange | US | USD | 20. Apr 1990 | |
| DB | GRG | Common Stock | Deutsche Boerse AG | DE | EUR | 20. Apr 1990 |
Number of employees
Current staff
Industry
| Construction and Engineering | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/18 23:36 |
| End of day share price update: | 2019/03/18 00:00 |
| Last estimates confirmation: | 2019/03/07 |
| Last earnings filing: | 2019/02/22 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
