Granite Construction (GVA)
Market Price (12/26/2025): $118.53 | Market Cap: $5.2 BilSector: Industrials | Industry: Construction & Engineering
Granite Construction (GVA)
Market Price (12/26/2025): $118.53Market Cap: $5.2 BilSector: IndustrialsIndustry: Construction & Engineering
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% | Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% | Key risksGVA key risks include [1] legal and accounting challenges stemming from a history of financial misstatements and material weaknesses in internal controls, Show more. |
| Attractive yieldFCF Yield is 6.7% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | |
| Low stock price volatilityVol 12M is 26% | ||
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 6.7% |
| Low stock price volatilityVol 12M is 26% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Key risksGVA key risks include [1] legal and accounting challenges stemming from a history of financial misstatements and material weaknesses in internal controls, Show more. |
Why The Stock Moved
Qualitative Assessment
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The requested time period from August 31, 2025, to today (December 26, 2025) is in the future.1. I cannot access or analyze future stock market data or events.
2. Therefore, I cannot provide key points for Granite Construction (GVA) stock movement within this specified timeframe.
Show more
Stock Movement Drivers
Fundamental Drivers
The 9.0% change in GVA stock from 9/25/2025 to 12/25/2025 was primarily driven by a 10.8% change in the company's Net Income Margin (%).| 9252025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 108.63 | 118.42 | 9.01% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 4078.32 | 4236.31 | 3.87% |
| Net Income Margin (%) | 3.89% | 4.31% | 10.84% |
| P/E Multiple | 29.99 | 28.42 | -5.23% |
| Shares Outstanding (Mil) | 43.75 | 43.78 | -0.08% |
| Cumulative Contribution | 9.01% |
Market Drivers
9/25/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| GVA | 9.0% | |
| Market (SPY) | 4.9% | 41.3% |
| Sector (XLI) | 4.2% | 53.8% |
Fundamental Drivers
The 29.9% change in GVA stock from 6/26/2025 to 12/25/2025 was primarily driven by a 40.5% change in the company's Net Income Margin (%).| 6262025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 91.19 | 118.42 | 29.86% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 4034.85 | 4236.31 | 4.99% |
| Net Income Margin (%) | 3.07% | 4.31% | 40.51% |
| P/E Multiple | 32.05 | 28.42 | -11.33% |
| Shares Outstanding (Mil) | 43.46 | 43.78 | -0.74% |
| Cumulative Contribution | 29.85% |
Market Drivers
6/26/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| GVA | 29.9% | |
| Market (SPY) | 13.1% | 39.9% |
| Sector (XLI) | 8.8% | 47.9% |
Fundamental Drivers
The 30.7% change in GVA stock from 12/25/2024 to 12/25/2025 was primarily driven by a 54.0% change in the company's Net Income Margin (%).| 12252024 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 90.59 | 118.42 | 30.72% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3963.97 | 4236.31 | 6.87% |
| Net Income Margin (%) | 2.80% | 4.31% | 54.00% |
| P/E Multiple | 35.71 | 28.42 | -20.42% |
| Shares Outstanding (Mil) | 43.70 | 43.78 | -0.20% |
| Cumulative Contribution | 30.71% |
Market Drivers
12/25/2024 to 12/25/2025| Return | Correlation | |
|---|---|---|
| GVA | 30.7% | |
| Market (SPY) | 15.8% | 60.8% |
| Sector (XLI) | 18.6% | 64.6% |
Fundamental Drivers
The 243.8% change in GVA stock from 12/26/2022 to 12/25/2025 was primarily driven by a 197.5% change in the company's Net Income Margin (%).| 12262022 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 34.44 | 118.42 | 243.83% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3317.69 | 4236.31 | 27.69% |
| Net Income Margin (%) | 1.45% | 4.31% | 197.46% |
| P/E Multiple | 31.53 | 28.42 | -9.87% |
| Shares Outstanding (Mil) | 43.97 | 43.78 | 0.43% |
| Cumulative Contribution | 243.82% |
Market Drivers
12/26/2023 to 12/25/2025| Return | Correlation | |
|---|---|---|
| GVA | 131.1% | |
| Market (SPY) | 48.3% | 55.2% |
| Sector (XLI) | 41.7% | 61.8% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GVA Return | -1% | 47% | -8% | 47% | 74% | 36% | 365% |
| Peers Return | � | � | � | � | � | � | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| GVA Win Rate | 58% | 58% | 50% | 67% | 67% | 75% | |
| Peers Win Rate | � | � | � | � | � | � | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| GVA Max Drawdown | -63% | -0% | -34% | -2% | -13% | -19% | |
| Peers Max Drawdown | � | � | � | � | � | � | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: DY, PRIM, ROAD, MYRG, KWF. See GVA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | GVA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.4% | -25.4% |
| % Gain to Breakeven | 67.9% | 34.1% |
| Time to Breakeven | 125 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.6% | -33.9% |
| % Gain to Breakeven | 182.3% | 51.3% |
| Time to Breakeven | 295 days | 148 days |
| 2018 Correction | ||
| % Loss | -65.3% | -19.8% |
| % Gain to Breakeven | 188.2% | 24.7% |
| Time to Breakeven | 1,730 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -69.1% | -56.8% |
| % Gain to Breakeven | 223.7% | 131.3% |
| Time to Breakeven | 5,779 days | 1,480 days |
Compare to DY, PRIM, ROAD, MYRG, KWF
In The Past
Granite Construction's stock fell -40.4% during the 2022 Inflation Shock from a high on 11/23/2021. A -40.4% loss requires a 67.9% gain to breakeven.
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Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. It operates through two segments, Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public. It also focuses on water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies. The company also constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar, and power projects. The Materials segment is involved in the production of aggregates and asphalt for internal use, as well as for sale to third parties. In addition, it offers site preparation, mining, 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.
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Here are 1-2 brief analogies for Granite Construction (GVA):
- They're like Vulcan Materials, but instead of just selling aggregates and asphalt, they also build the major roads, bridges, and infrastructure projects themselves.
- Think of them as the Bechtel of heavy civil infrastructure construction in the U.S., specializing in building highways, bridges, dams, and other public works.
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- Construction Materials: Production and sale of aggregates (sand, gravel, crushed stone), asphalt concrete, and ready-mix concrete.
- Heavy Civil Construction: Execution of large-scale public and private infrastructure projects, including highways, bridges, airports, dams, and water infrastructure.
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Granite Construction (GVA) primarily sells its services and materials to other entities, not individuals. Due to the competitive bidding nature of heavy civil construction and the diversity of their projects, Granite typically serves a broad range of clients, and no single customer generally accounts for a significant portion of its consolidated revenue.
Its major customers fall into the following categories:
- Government Agencies: This is a predominant customer category for heavy civil infrastructure projects. It includes federal agencies (e.g., U.S. Army Corps of Engineers, various federal departments), state agencies (e.g., State Departments of Transportation, water resource boards), and local government entities (e.g., city public works departments, county transportation commissions, water and sanitation districts, port authorities). These are not public companies with stock symbols.
- Private Sector Clients: Granite provides construction services and materials to various private companies for large-scale infrastructure and site development projects. These clients can include industrial companies, commercial developers, energy companies (e.g., for power plants or renewable energy facilities), mining operations, and real estate developers requiring significant civil infrastructure for their projects. Due to the diverse nature of these projects and clients, no specific public company is consistently identified as a major customer contributing a significant percentage of Granite's overall revenue.
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```htmlKyle Larkin, President and Chief Executive Officer
Kyle Larkin joined Granite Construction in 1996 as an estimator and has advanced through various operational and executive roles. He served as project engineer, chief estimator, manager of construction, regional manager, and president of the subsidiary Intermountain Slurry Seal. He was appointed President in September 2020 and Chief Executive Officer in June 2021. Mr. Larkin earned a BS in Construction Management from Cal Poly, San Luis Obispo, and an MBA from the University of Massachusetts Amherst. His leadership at Granite has focused on vertical integration and growth through strategic mergers and acquisitions.
Staci M. Woolsey, Chief Financial Officer, Principal Accounting Officer and Executive Vice President
Staci Woolsey was appointed Executive Vice President and Chief Financial Officer, effective September 16, 2024. She joined Granite in June 2021 as Chief Accounting Officer. Prior to her time at Granite, Ms. Woolsey served as Vice President and Corporate Controller at MDC Holdings and held a Vice President and Controller position at AECOM. She holds a B.S. degree in accounting and is a Certified Public Accountant.
Michael G. Tatusko, Senior Vice President, Construction
Michael G. Tatusko serves as the Senior Vice President of Construction for Granite Construction. In this role, he is responsible for overseeing aspects of the company's construction operations.
Brian A. Dowd, Senior Vice President, Construction
Brian A. Dowd is a Senior Vice President of Construction at Granite Construction, contributing to the oversight and management of the company's construction projects.
Bradly J. Estes, Senior Vice President, Construction Materials
Bradly J. Estes holds the position of Senior Vice President of Construction Materials at Granite Construction, with responsibilities related to the company's materials production and supply chain.
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Here are the key risks to Granite Construction (GVA):- Sensitivity to Economic Fluctuations and Infrastructure Spending Cycles: Granite Construction's business is highly susceptible to macroeconomic factors, including economic cycles, market volatility, inflation, and interest rate changes. A slowdown in both public and private infrastructure investment can directly impact the company's project pipeline, revenue, and overall profitability. For example, a significant reduction in public and private spending could substantially compress the company's EBITDA.
- Legal, Regulatory, and Accounting Risks: The company has a history of facing legal and regulatory challenges, including a $12 million settlement with the SEC in August 2022 related to accounting malfeasance. Furthermore, a lawsuit was filed in 2020 alleging fraudulent statements regarding the accounting treatment of several large construction projects, with claims of intentionally inflated revenues and profits. The company has also identified material weaknesses in its internal control over financial reporting and disclosure controls. These issues pose a risk to the company's reputation, financial stability, and could lead to further legal actions or penalties.
- Integration Challenges from Acquisitions: Granite Construction has engaged in strategic acquisitions, such as Warren Paving and Papich Construction, to expand its operational footprint and enhance vertical integration. However, the successful realization of benefits, including enhanced profitability and cash flow, hinges on the seamless operational integration of these acquired entities and the retention of their margins. Failure to effectively integrate could undermine strategic goals and impact financial performance.
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Granite Construction (GVA) operates primarily in two segments: Construction and Materials, focusing on the United States market. The addressable markets for their main products and services in the U.S. are as follows:
Construction Segment
- Transportation Infrastructure: This includes roads, highways, bridges, rail, and airports. The U.S. transportation infrastructure market was valued at approximately USD 380.4 billion in 2024 and is projected to reach USD 550.5 billion by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 4.9% from 2025 to 2032. Another estimate places the market at USD 233.03 billion in 2025, expected to grow to USD 286.86 billion by 2030, with a CAGR of 4.24% during that period.
- Water Infrastructure: This segment covers projects such as dams, reservoirs, aqueducts, and water treatment facilities. The U.S. water infrastructure and management market was sized at USD 120.2 billion in 2024 and is anticipated to reach USD 179.6 billion by 2032, with a CAGR of 5.3% from 2025 to 2032. Similarly, the U.S. water and wastewater treatment market was valued at USD 121.40 billion in 2024 and is projected to grow to USD 206.64 billion by 2032, at a CAGR of 6.9% during the forecast period.
Materials Segment
- Construction Materials (Aggregates, Asphalt Concrete, etc.): The U.S. construction materials market was valued at USD 145.0 billion in 2024 and is expected to grow at a CAGR of 4.0% from 2025 to 2032, reaching USD 196.1 billion. In 2024, the U.S. market for construction materials held a significant share within North America, with a market size of USD 448.6 billion. Aggregates are a dominant material type within this market.
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Granite Construction (GVA) is anticipated to experience revenue growth over the next two to three years, driven by several key factors:
- Robust Committed and Awarded Projects (CAP) Backlog: Granite has consistently reported a strong and growing backlog of Committed and Awarded Projects (CAP), which provides a solid foundation for future revenue. For instance, the company achieved a record CAP of $6.3 billion, signaling a healthy pipeline of work. Management expects to continue growing its CAP portfolio and increase bid day margins through 2026. This includes multi-year projects such as segments of the Horizon Lateral Program, a water infrastructure initiative in Southern Nevada.
- Increased Public Infrastructure Funding: The Infrastructure Investment and Jobs Act (IIJA) and healthy state budgets are significant catalysts for Granite's public sector construction and materials segments. The company is strategically leveraging these funds for projects in roads, bridges, airports, and water infrastructure, with some projects being 60% to 100% publicly funded. This sustained public investment is expected to create attractive opportunities and support organic revenue growth through 2027.
- Strategic Acquisitions and Vertical Integration: Granite is actively pursuing strategic acquisitions, particularly to enhance its vertically integrated operations within its "home markets" and expand its geographic footprint. Recent acquisitions, such as Dickerson & Bowen, Inc. and Papich Construction, have already contributed to revenue growth and expanded the company's presence. These acquisitions aim to provide reliable access to resources, improve cost efficiencies, and drive margin expansion in the materials segment.
- Focus on Best Value Procurement and Higher-Margin Projects: The company is strategically shifting towards "Best Value Procurement" and prioritizing higher-quality, higher-margin projects. This disciplined project selection and improved execution across its project portfolio are expected to drive increased gross profit margins in both the construction and materials segments.
- Growth in Materials Segment with Price Increases: Investments in the materials business, including reserve expansion and plant upgrades, are a priority within Granite's capital allocation strategy. The materials segment has seen growth through acquisitions, increased aggregate production, and is experiencing sales price increases. This segment is becoming a larger and more profitable component of the business, contributing to overall revenue growth and margin improvement.
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Share Repurchases
- On February 1, 2022, the Board of Directors authorized Granite Construction to purchase up to $300.0 million of its common stock.
- As of September 30, 2025, $183.9 million of this authorization remained available.
- In 2024, the company repurchased 524,800 shares of its common stock under the board-approved program and approximately $30.2 million in aggregate principal amount of its 2.75% Convertible Notes.
Share Issuance
- In 2024, Granite Construction issued convertible notes, raising $373.75 million.
- The company engaged in capped call transactions in 2024 to mitigate potential dilution from convertible notes.
Outbound Investments
- On August 5, 2025, Granite Construction completed the acquisitions of Warren Paving for $540.0 million and Papich Construction for $170.0 million.
- Subsequent to the third quarter of 2025, the company acquired Cinderlite for $58.5 million.
- These strategic acquisitions in 2024 and 2025, including Dickerson & Bowen, Inc. and Granite Infrastructure Canada, Ltd. in 2024, aim to expand the company's footprint, strengthen its materials segment, and increase aggregate reserves.
Capital Expenditures
- Capital expenditures are expected to total approximately $130 million for the fiscal year 2025, representing about 3% of anticipated revenue.
- On a long-term basis, the company expects annual capital expenditures to remain at approximately 3% of revenue.
Latest Trefis Analyses
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Trade Ideas
Select ideas related to GVA. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.7% | 18.7% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.7% | 4.7% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.9% | 6.9% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.6% | 2.6% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 6.0% | 6.0% | -0.4% |
Research & Analysis
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Peer Comparisons for Granite Construction
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 129.53 |
| Mkt Cap | 6.2 |
| Rev LTM | 4,236 |
| Op Inc LTM | 257 |
| FCF LTM | 297 |
| FCF 3Y Avg | 119 |
| CFO LTM | 462 |
| CFO 3Y Avg | 333 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.2% |
| Rev Chg 3Y Avg | 12.3% |
| Rev Chg Q | 14.1% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Mgn LTM | 6.1% |
| Op Mgn 3Y Avg | 5.0% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 10.4% |
| CFO/Rev 3Y Avg | 7.5% |
| FCF/Rev LTM | 5.7% |
| FCF/Rev 3Y Avg | 4.3% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Construction | 2,992 | 2,804 | 3,076 | 2,764 | |
| Materials | 717 | 671 | 588 | 514 | 530 |
| Elimination of intersegment revenue | -200 | -174 | -162 | -149 | -173 |
| Specialty | 728 | ||||
| Transportation | 1,892 | ||||
| Water | 469 | ||||
| Total | 3,509 | 3,301 | 3,502 | 3,129 | 3,446 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Construction | 173 | ||||
| Materials | 62 | ||||
| Corporate (gain) loss on sales of property and equipment, net | 0 | ||||
| Other costs, net | -50 | ||||
| Corporate selling, general and administrative expenses | -105 | ||||
| Total | 80 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Receivables, net | 599 | 464 | 465 | 438 | 547 |
| Construction | 598 | 433 | 359 | 371 | |
| Materials | 539 | 364 | 333 | 316 | 370 |
| Cash and cash equivalents | 418 | 294 | 396 | 425 | 262 |
| Other current assets, excluding segment assets | 317 | 280 | 323 | 170 | 257 |
| Investments in affiliates | 93 | 81 | 23 | 28 | 84 |
| Right of use assets | 78 | 49 | 49 | 53 | 73 |
| Property and equipment, net, excluding segment assets | 73 | 65 | 57 | 49 | 43 |
| Other noncurrent assets | 56 | 50 | 58 | 58 | 60 |
| Short-term marketable securities | 36 | 66 | 16 | 5 | 33 |
| Deferred income taxes, net | 8 | 22 | 24 | 43 | 50 |
| Current assets held for sale | 393 | 171 | |||
| Noncurrent assets held for sale | 252 | ||||
| Specialty | 129 | ||||
| Transportation | 309 | ||||
| Water | 285 | ||||
| Total | 2,814 | 2,168 | 2,495 | 2,380 | 2,502 |
Price Behavior
Price Behavior
| Market Price | $118.42 | |
| Market Cap ($ Bil) | 5.2 | |
| First Trading Date | 02/25/1992 | |
| Distance from 52W High | -0.1% | |
| 50 Days | 200 Days | |
| DMA Price | $106.69 | $96.19 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 11.0% | 23.1% |
| 3M | 1YR | |
| Volatility | 18.3% | 25.8% |
| Downside Capture | 67.74 | 81.26 |
| Upside Capture | 92.84 | 95.88 |
| Correlation (SPY) | 41.8% | 60.9% |
GVA Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.65 | 0.48 | 0.61 | 0.75 | 0.80 | 0.86 |
| Up Beta | 0.96 | 0.87 | 0.91 | 1.16 | 0.83 | 0.92 |
| Down Beta | 0.07 | -0.12 | -0.20 | 0.41 | 0.65 | 0.65 |
| Up Capture | 100% | 46% | 72% | 84% | 81% | 119% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 11 | 18 | 29 | 65 | 122 | 390 |
| Down Capture | 46% | 74% | 102% | 68% | 94% | 94% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 24 | 34 | 61 | 127 | 360 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of GVA With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| GVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 32.3% | 20.9% | 19.2% | 71.9% | 8.9% | 6.0% | -10.1% |
| Annualized Volatility | 25.6% | 18.8% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | 1.05 | 0.87 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 64.6% | 60.8% | 11.4% | 17.3% | 40.7% | 30.0% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of GVA With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| GVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 36.2% | 14.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.7% |
| Annualized Volatility | 31.5% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 1.03 | 0.66 | 0.70 | 0.97 | 0.51 | 0.17 | 0.60 |
| Correlation With Other Assets | 58.4% | 47.8% | 9.4% | 20.4% | 39.8% | 21.0% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of GVA With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| GVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 12.1% | 13.4% | 14.7% | 14.9% | 6.9% | 5.2% | 69.3% |
| Annualized Volatility | 41.4% | 19.9% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.42 | 0.60 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 53.8% | 44.8% | -1.3% | 21.3% | 36.2% | 12.2% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | -3.3% | -0.3% | 5.3% |
| 8/7/2025 | 8.1% | 19.2% | 15.8% |
| 5/1/2025 | -2.4% | -0.1% | 10.0% |
| 2/13/2025 | 0.6% | -2.4% | -14.6% |
| 10/31/2024 | 2.4% | 15.9% | 21.1% |
| 8/1/2024 | 1.4% | -0.4% | 8.1% |
| 5/2/2024 | 4.1% | 11.5% | 13.3% |
| 2/22/2024 | 2.4% | 1.5% | 10.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 14 |
| # Negative | 9 | 11 | 8 |
| Median Positive | 4.1% | 12.2% | 11.8% |
| Median Negative | -3.3% | -2.4% | -5.8% |
| Max Positive | 18.0% | 34.1% | 34.5% |
| Max Negative | -6.9% | -16.1% | -32.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 8072025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2142025 | 10-K 12/31/2024 |
| 9302024 | 10312024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 5022024 | 10-Q 3/31/2024 |
| 12312023 | 2232024 | 10-K 12/31/2023 |
| 9302023 | 10312023 | 10-Q 9/30/2023 |
| 6302023 | 7282023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2212023 | 10-K 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 7282022 | 10-Q 6/30/2022 |
| 3312022 | 4282022 | 10-Q 3/31/2022 |
| 12312021 | 2282022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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