Granite Construction Incorporated (GVA)
Debt-to-capital ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 614,781 | 403,785 | 458,692 | 287,000 | 286,934 | 286,872 | 286,801 | 290,549 | 331,191 | 331,192 | 331,222 | 331,647 | 330,522 | 405,644 | 405,770 | 355,911 | 356,108 | 394,841 | 366,896 | 333,290 |
| Total stockholders’ equity | US$ in thousands | 977,298 | 955,348 | 901,542 | 925,457 | 953,016 | 934,768 | 871,655 | 906,045 | 967,682 | 985,185 | 955,384 | 903,540 | 975,664 | 971,606 | 1,067,720 | 1,067,750 | 1,141,470 | 1,183,910 | 1,146,460 | 1,176,190 |
| Debt-to-capital ratio | 0.39 | 0.30 | 0.34 | 0.24 | 0.23 | 0.23 | 0.25 | 0.24 | 0.25 | 0.25 | 0.26 | 0.27 | 0.25 | 0.29 | 0.28 | 0.25 | 0.24 | 0.25 | 0.24 | 0.22 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $614,781K ÷ ($614,781K + $977,298K)
= 0.39
Granite Construction Inc.'s debt-to-capital ratio has fluctuated over the past eight quarters, ranging from 0.23 to 0.40. The trend indicates some variability in the company's financial leverage. In Q4 2023, the ratio increased to 0.40, reflecting a higher level of debt relative to the company's capital structure compared to previous quarters. This may indicate an increase in the company's debt obligations or a decrease in its overall capital base. However, the ratio remains below 1, suggesting that Granite Construction Inc. has not relied heavily on debt financing to fund its operations. It would be important to further analyze the company's financial stability and ability to manage its debt obligations in light of this ratio's fluctuations.
Peer comparison
Dec 31, 2023