Discounted Cash Flow

Granite Construction Inc.

GVA · Based on 10 years of SEC filings

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Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales — — —
Free Cash Flow — — —
Average (FCF & NI) — — —
Net Income — — —

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales — — —
Free Cash Flow — — —
Average (FCF & NI) — — —
Net Income — — —

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

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Free cash flow growth —
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI) —
10-year: — 5-year: — 3-year: —
Net income growth —
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations) —
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

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Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $2.5b $57.1m $-17.8m 2.3% $1.44
2017 $3.0b (18.9%) $69.1m (21.0%) $78.5m (540.4%) 2.3% (1.7%) $1.74 (20.8%)
2018 $3.3b (11.0%) $42.4m (-38.6%) $-24.7m (-131.5%) 1.3% (-44.7%) $0.97 (-44.3%)
2019 $3.4b (3.8%) $-60.2m (-241.9%) $4.6m (118.7%) -1.7% (-236.7%) $-1.29 (-233.0%)
2020 $3.6b (3.4%) $-145.1m (-141.1%) $175.2m (3700.6%) -4.1% (-133.2%) $-3.18 (-146.5%)
2021 $3.0b (-15.5%) $10.1m (107.0%) $-72.9m (-141.6%) 0.3% (108.2%) $0.22 (106.9%)
2022 $3.3b (9.7%) $83.3m (725.1%) $-66.0m (9.5%) 2.5% (652.3%) $1.87 (750.0%)
2023 $3.5b (6.3%) $43.6m (-47.7%) $43.3m (165.7%) 1.2% (-50.8%) $0.99 (-47.1%)
2024 $4.0b (14.2%) $126.3m (189.8%) $319.9m (638.5%) 3.2% (153.7%) $2.88 (190.9%)
2025 $4.4b (10.4%) $193.0m (52.8%) $330.6m (3.3%) 4.4% (38.4%) $4.42 (53.5%)

Base FCF: — (latest fiscal year)

Discount rate: %

Terminal growth: —

Projection period: — years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF: —

Terminal FCF: —

Terminal value: —

PV of terminal value: —

Enterprise value (DCF): —

DCF price per share: —

Current price: —

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) ⓘ — — — — 10 + TV
Alt A (Gradual Decline) ⓘ — — — — —
Alt B (30yr Hard Stop) ⓘ — — — N/A —

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model