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Granite Construction GVA Non-US — Concentration risk

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Other financials

Income statement

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Revenue$912.5M+30.4%
Gross profit$109.9M+31.1%
Operating income-$31.1M+21.7%
Net income-$41.7M-23.9%
EPS (diluted)-$0.96-24.7%

Balance sheet

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Cash & equivalents$265.7M-29.9%
Total debt$1.4B+66.5%
Total equity$1.0B+3.9%
Total assets$3.8B+30.0%

Cash flow

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Operating cash flow-$30.9M-947%
CapEx$26.1M-18.8%
Free cash flow-$57.0M-99.6%

Valuation

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Market cap$5.4B+32.2%
Enterprise value$6.53B+41.8%
P/E29.2×+3.4×
P/S1.2×+0.2×

Profitability

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Gross margin15.9%+1.0pp
Operating margin6.3%+1.0pp
Net margin4%+0.9pp
FCF margin6.5%-0.8pp

Returns & leverage

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Return on equity18.3%+5.5pp
Debt / equity1.4×+0.5×
Current ratio1.1×-0.5×

Where this comes from

Reported directly by Granite Construction in its filing.

Tagged under the XBRL concept us-gaap:ConcentrationRiskPercentage1.

The source filing: Granite Construction’s 10-K, filed February 13, 2026.

Filed
Feb 12, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0000861459-26-000004

As of December 31, 2025 and 2024, segment assets included $23.5 million and $18.8 million, respectively, of property and equipment located in foreign countries (primarily Canada). During the years ended December 31, 2025, 2024 and 2023 less than 5% of our revenue was derived from foreign operations.

Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

FAQ

What is Granite Construction's non-us — concentration risk?
Granite Construction (GVA) reported non-us — concentration risk of 1.3% in Q4 2025.
How has Granite Construction's non-us — concentration risk changed year-over-year?
Granite Construction's non-us — concentration risk decreased by 0.0% year-over-year, from 1.3% to 1.3%.
What is the long-term trend for Granite Construction's non-us — concentration risk?
Over 4 years (2021 to 2025), Granite Construction's non-us — concentration risk has grown at a 0.0% compound annual growth rate (CAGR), from 5% to 5%.
What does non-us — concentration risk mean?
This metric quantifies the degree of reliance on a specific international market or region relative to the company's total global operations. It serves as an indicator of potential vulnerability to localized political, regulatory, or economic instability within that specific geography. A higher value suggests a greater dependency on a single non-domestic market, which may increase the company's overall risk profile.

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