# GRANITE CONSTRUCTION INC

Summary updated: 2026-10-02T16:40:42.649257Z
Canonical: https://finbar.com/research/companies/granite-construction-inc

## Overview

Granite Construction Inc. is a U.S.-focused civil infrastructure contractor and construction-materials producer. Its Construction segment builds and rehabilitates infrastructure such as roads, bridges, airports and water systems, while its Materials segment produces aggregates, asphalt and recycled materials for company projects and external customers. [1](https://app.finbar.com/go?id=P1675706)[2](https://investor.graniteconstruction.com/sites/granite-construction-v4/files/2026-04/2025-annual-report.pdf)

The company’s vertically integrated operations are concentrated across western and selected southern and central U.S. states, with construction work also extending nationally through specialized divisions. Granite states its mission as “building a better world together.” [3](https://app.finbar.com/go?id=P55310398)[4](https://app.finbar.com/go?id=P51907290)[2](https://investor.graniteconstruction.com/sites/granite-construction-v4/files/2026-04/2025-annual-report.pdf)[5](https://www.graniteconstruction.com/company/were-100)

For fiscal 2025, Granite reported revenue of $4.424 billion and approximately 5,800 employees at year-end. Incorporated in 1922, it has a century-long history in infrastructure construction. [6](https://app.finbar.com/go?id=T11826964)[2](https://investor.graniteconstruction.com/sites/granite-construction-v4/files/2026-04/2025-annual-report.pdf)[5](https://www.graniteconstruction.com/company/were-100)
[1](https://app.finbar.com/go?id=P1675706)[3](https://app.finbar.com/go?id=P55310398)[4](https://app.finbar.com/go?id=P51907290)[6](https://app.finbar.com/go?id=T11826964)[2](https://investor.graniteconstruction.com/sites/granite-construction-v4/files/2026-04/2025-annual-report.pdf)[5](https://www.graniteconstruction.com/company/were-100)

## Products & services

Granite Construction’s products include aggregates, recycled materials, asphalt concrete and liquid asphalt. Aggregates serve asphalt, concrete, road-base and specialty applications; asphalt offerings include hot-, warm- and cold-mix products, with mix designs determined by project and agency specifications. Recycled offerings include asphalt mixes using recycled asphalt pavement and recycled base made from crushed concrete or asphalt where specifications allow. The company reports producing more than 35 million tons of asphalt concrete and aggregates annually. [7](https://www.graniteconstruction.com/materials)[8](https://www.graniteconstruction.com/materials/product-type/aggregate)[9](https://www.graniteconstruction.com/materials/product-type/asphalt-concrete)[10](https://www.graniteconstruction.com/materials/recycled-materials)

Services include construction and rehabilitation of roads, highways, bridges, railways, airports and marine ports, as well as water infrastructure such as pipelines, sewers, reservoirs, dams, pumping stations, treatment plants and canals. Granite also undertakes mining, tunnels, solar and battery-storage projects, using delivery approaches including bid-build, design-build, CM/GC, CMAR and progressive design-build. [1](https://app.finbar.com/go?id=P1675706)[11](https://app.finbar.com/go?id=P30469137)[12](https://www.graniteconstruction.com/construction/transportation)[13](https://www.graniteconstruction.com/construction/water-wastewater) In fiscal 2025, Construction generated $3.655 billion, or 82.6% of revenue, and Materials generated $769.5 million, or 17.4%. Materials revenue consisted of $308.8 million in aggregates, $458.8 million in asphalt and $1.9 million in other revenue; the company does not report revenue shares for individual construction service types. [14](https://app.finbar.com/go?id=T4422681)[15](https://app.finbar.com/go?id=P98897906)
[1](https://app.finbar.com/go?id=P1675706)[11](https://app.finbar.com/go?id=P30469137)[14](https://app.finbar.com/go?id=T4422681)[15](https://app.finbar.com/go?id=P98897906)[7](https://www.graniteconstruction.com/materials)[8](https://www.graniteconstruction.com/materials/product-type/aggregate)[9](https://www.graniteconstruction.com/materials/product-type/asphalt-concrete)[10](https://www.graniteconstruction.com/materials/recycled-materials)[12](https://www.graniteconstruction.com/construction/transportation)[13](https://www.graniteconstruction.com/construction/water-wastewater)

## Geographic presence

Granite Construction’s operating footprint is concentrated in the United States. Its vertically integrated operations span Alaska, Arizona, California, Kentucky, Louisiana, Mississippi, Nevada, Oregon, Tennessee, Utah and Washington; its civil-construction home markets also include the Midwest, Florida and Texas. Its Tunnel and Federal businesses operate across the continental United States and Guam. [3](https://app.finbar.com/go?id=P55310398)

The company lists primary offices in Alaska, Arizona, California, Canada, Colorado, Florida, Guam, Illinois, Mississippi, Nevada, Tennessee, Texas, Utah and Washington. Its headquarters is in Watsonville, California. [16](https://app.finbar.com/go?id=P33889669)[17](https://app.finbar.com/go?id=P46708592) Granite’s office directory provides additional location information. [18](https://www.graniteconstruction.com/our-offices)[19](https://www.graniteconstruction.com/node/3171)

Foreign operations generated less than 5% of revenue in each of 2023, 2024 and 2025; foreign property and equipment was primarily in Canada. Granite’s Materials segment continued international operations in Canada, while it began winding down international mineral-services operations in Mexico and Canada in the third quarter of 2023. [20](https://app.finbar.com/go?id=P51054346)[21](https://app.finbar.com/go?id=P63112213) California was the company’s top revenue-generating state in the first half of 2026, but no state-level revenue percentage was provided. [22](https://app.finbar.com/go?id=P145055897)

Most salaried and hourly employees were based in the United States in 2025. Hourly headcount varied seasonally from approximately 2,500 to 5,200; the cited disclosure does not provide a state- or country-level employee breakdown. [23](https://app.finbar.com/go?id=P46813613)
[3](https://app.finbar.com/go?id=P55310398)[16](https://app.finbar.com/go?id=P33889669)[17](https://app.finbar.com/go?id=P46708592)[18](https://www.graniteconstruction.com/our-offices)[19](https://www.graniteconstruction.com/node/3171)[20](https://app.finbar.com/go?id=P51054346)[21](https://app.finbar.com/go?id=P63112213)[22](https://app.finbar.com/go?id=P145055897)[23](https://app.finbar.com/go?id=P46813613)[19](https://www.graniteconstruction.com/node/3171)[18](https://www.graniteconstruction.com/our-offices)

## Business segments

Granite Construction Inc. reports two operating and reportable segments: **Construction** and **Materials**. Construction includes infrastructure construction and rehabilitation—including roads, bridges, rail, airports, marine ports, dams, reservoirs and water-related projects—as well as site development and complex projects such as mining, tunnels, solar and battery-storage facilities. Materials produces and delivers aggregates, asphalt concrete, liquid asphalt and recycled materials for Granite’s projects and third-party customers. [1](https://app.finbar.com/go?id=P1675706)

For the year ended December 31, 2025, Construction generated $3.655 billion, approximately **82.6%** of consolidated revenue; Materials generated $769.5 million, approximately **17.4%**. Consolidated revenue was $4.424 billion, after intersegment eliminations. [6](https://app.finbar.com/go?id=T11826964)

Granite also disaggregates revenue within those segments: Construction revenue was $2.608 billion from public work and $1.046 billion from private work. Materials revenue comprised $308.8 million in aggregates, $458.8 million in asphalt and $1.9 million in other products and services. These are revenue categories within the two reportable segments, not additional reportable segments. [14](https://app.finbar.com/go?id=T4422681)[15](https://app.finbar.com/go?id=P98897906)
[1](https://app.finbar.com/go?id=P1675706)[6](https://app.finbar.com/go?id=T11826964)[6](https://app.finbar.com/go?id=T11826964)[6](https://app.finbar.com/go?id=T11826964)[14](https://app.finbar.com/go?id=T4422681)[14](https://app.finbar.com/go?id=T4422681)[14](https://app.finbar.com/go?id=T4422681)[14](https://app.finbar.com/go?id=T4422681)[14](https://app.finbar.com/go?id=T4422681)[15](https://app.finbar.com/go?id=P98897906)

## Company history

Granite Construction’s roots trace to the Granite Rock Company, established in 1900. Granite Construction Company was incorporated in Watsonville, California, in 1922 as Granite Rock’s construction subsidiary. [24](https://www.graniteconstruction.com/history) [25](https://www.graniteconstruction.com/newsroom/granite-marks-one-century-business-3) In 1936, after cost overruns on the Yosemite Glacier Point road, Granite Rock offered project leaders Walter J. Wilkinson and Bert Scott company stock in lieu of back wages; they accepted. [24](https://www.graniteconstruction.com/history)

The company undertook major infrastructure work during its expansion, including projects associated with Donner Pass, Rollins Dam, and the California Aqueduct. [24](https://www.graniteconstruction.com/history) In 1985, a majority stake was sold to employees through an employee stock ownership plan; Dave Watts became the company’s first outside CEO in 1987. Granite Construction Incorporated was formed as a holding company and went public in 1990. [26](https://www.graniteconstruction.com/node/1011) [27](https://www.graniteconstruction.com/node/1016) [28](https://app.finbar.com/go?id=P49300447)

Granite broadened its construction operations through acquisitions, completing the purchase of Kenny Construction Company in 2012 and Layne Christensen in 2018. [29](https://www.graniteconstruction.com/newsroom/granite-reports-fourth-quarter-and-fiscal-2012-results-4) [30](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-layne-christensen) Kyle Larkin became CEO in 2021. [31](https://www.graniteconstruction.com/newsroom/granite-elects-new-board-chair-appoints-three-new-directors-and-names-larkin-ceo-3) More recent acquisitions included Lehman-Roberts Company and Memphis Stone & Gravel in 2023, Dickerson & Bowen in 2024, and Warren Paving and Papich Construction in 2025, expanding the company’s regional construction and materials operations. [32](https://app.finbar.com/go?id=P12511269) [33](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-dickerson-bowen-inc) [34](https://www.graniteconstruction.com/newsroom/granite-completes-acquisitions-warren-paving-and-papich-construction-strengthen-and-expand)
[28](https://app.finbar.com/go?id=P49300447)[32](https://app.finbar.com/go?id=P12511269)[24](https://www.graniteconstruction.com/history)[25](https://www.graniteconstruction.com/newsroom/granite-marks-one-century-business-3)[26](https://www.graniteconstruction.com/node/1011)[27](https://www.graniteconstruction.com/node/1016)[29](https://www.graniteconstruction.com/newsroom/granite-reports-fourth-quarter-and-fiscal-2012-results-4)[30](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-layne-christensen)[31](https://www.graniteconstruction.com/newsroom/granite-elects-new-board-chair-appoints-three-new-directors-and-names-larkin-ceo-3)[33](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-dickerson-bowen-inc)[34](https://www.graniteconstruction.com/newsroom/granite-completes-acquisitions-warren-paving-and-papich-construction-strengthen-and-expand)

## Sources

1. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P1675706)
2. [investor.graniteconstruction.com](https://investor.graniteconstruction.com/sites/granite-construction-v4/files/2026-04/2025-annual-report.pdf)
3. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P55310398)
4. [GRANITE CONSTRUCTION INC — Transcript (2025 Y)](https://app.finbar.com/go?id=P51907290)
5. [www.graniteconstruction.com](https://www.graniteconstruction.com/company/were-100)
6. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T11826964)
7. [www.graniteconstruction.com](https://www.graniteconstruction.com/materials)
8. [www.graniteconstruction.com](https://www.graniteconstruction.com/materials/product-type/aggregate)
9. [www.graniteconstruction.com](https://www.graniteconstruction.com/materials/product-type/asphalt-concrete)
10. [www.graniteconstruction.com](https://www.graniteconstruction.com/materials/recycled-materials)
11. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P30469137)
12. [www.graniteconstruction.com](https://www.graniteconstruction.com/construction/transportation)
13. [www.graniteconstruction.com](https://www.graniteconstruction.com/construction/water-wastewater)
14. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4422681)
15. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P98897906)
16. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P33889669)
17. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P46708592)
18. [www.graniteconstruction.com](https://www.graniteconstruction.com/our-offices)
19. [www.graniteconstruction.com](https://www.graniteconstruction.com/node/3171)
20. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P51054346)
21. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P63112213)
22. [GRANITE CONSTRUCTION INC — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145055897)
23. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P46813613)
24. [www.graniteconstruction.com](https://www.graniteconstruction.com/history)
25. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-marks-one-century-business-3)
26. [www.graniteconstruction.com](https://www.graniteconstruction.com/node/1011)
27. [www.graniteconstruction.com](https://www.graniteconstruction.com/node/1016)
28. [GRANITE CONSTRUCTION INC — Full financial report (2024 Y)](https://app.finbar.com/go?id=P49300447)
29. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-reports-fourth-quarter-and-fiscal-2012-results-4)
30. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-layne-christensen)
31. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-elects-new-board-chair-appoints-three-new-directors-and-names-larkin-ceo-3)
32. [GRANITE CONSTRUCTION INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P12511269)
33. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-completes-acquisition-dickerson-bowen-inc)
34. [www.graniteconstruction.com](https://www.graniteconstruction.com/newsroom/granite-completes-acquisitions-warren-paving-and-papich-construction-strengthen-and-expand)

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