Granite Construction is both a civil contractor and a construction-materials producer, so its reported revenue is not directly comparable to a contractor whose business is limited to construction services. For fiscal 2025, Granite reported $4.424 billion in total revenue, including $3.655 billion from Construction and $769.5 million from Materials. A useful comparison starts by matching business mix and reporting scope—not by ranking companies on headline revenue alone.
What Granite Construction does
Granite Construction Incorporated reports two segments: Construction and Materials. Construction covers project work, while Materials includes production of aggregates, asphalt and recycled materials. This integration matters in a peer comparison: some contractors produce key inputs themselves, while others primarily buy materials from suppliers. Granite’s annual report describes its segments and operations in its 2025 Form 10-K.
Granite’s fiscal 2025 revenue by segment and customer
The figures below are for the year ended December 31, 2025. They are historical annual results, not current-quarter results or forward guidance.
| Granite reporting category | Fiscal 2025 revenue |
|---|---|
| Total company revenue | $4.424 billion |
| Construction segment | $3.655 billion |
| Materials segment | $769.5 million |
| Construction revenue from public customers | $2.608 billion |
| Construction revenue from private customers | $1.046 billion |
These figures are reported by Granite in its fiscal 2025 Form 10-K. The public- and private-customer figures are subdivisions of Construction revenue, not separate company segments.
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How Granite compares with Tutor Perini
Tutor Perini is one relevant publicly traded heavy-civil comparison, but it is not a complete proxy for Granite. Tutor Perini’s 2025 Form 10-K describes its Civil segment as focused on public works, infrastructure replacement and reconstruction in several U.S. regions. The segment reported approximately $2.847 billion in fiscal 2025 revenue. Tutor Perini also has Building and Specialty Contractors segments, so its Civil segment should be compared with Granite’s Construction segment only as a scoped segment comparison—not with Granite’s total company revenue.
| Company and measure | Fiscal 2025 revenue | What the figure covers |
|---|---|---|
| Granite Construction | $4.424 billion | Consolidated company revenue, including Construction and Materials |
| Granite Construction segment | $3.655 billion | Construction segment only |
| Tutor Perini Civil segment | Approximately $2.847 billion | Civil segment only; Tutor Perini also reports Building and Specialty Contractors |
Granite’s figures come from its 2025 Form 10-K; Tutor Perini’s Civil-segment figure and segment description come from its 2025 Form 10-K. Fiscal-year revenue alone does not show relative profitability, project risk, backlog quality or investment value.
Why a fair peer comparison needs more than revenue
Construction businesses can compete in different markets and report unlike combinations of services, materials and geography. Granite says competition varies by project type and location, ranging from local businesses to regional, national and international companies, and that few, if any, competitors operate across all of its markets. The selected companies therefore illustrate comparison issues rather than establish a definitive peer group or ranking; see Granite’s 2025 Form 10-K.
- Business mix: Separate heavy civil, building construction, specialty contracting, materials production, engineering and maintenance services.
- Geography: Check regional concentration, national reach and any material international operations.
- Customer mix: Distinguish public-agency work from private industrial, commercial or other demand.
- Revenue scope: Compare consolidated revenue with consolidated revenue, or a company’s segment with a comparable segment. Do not place a segment figure beside total-company revenue as if they measured the same scope.
- Materials integration: Note whether a contractor owns or produces aggregates, asphalt or other inputs, or typically purchases them.
- Execution measures: Compare segment profitability and backlog or committed-project measures only when definitions and reporting dates are consistent.
What this comparison can—and cannot—tell an investor
Granite’s 2025 figures show a business with substantial construction activity and a distinct materials operation; its Construction revenue also includes both public- and private-customer work. Tutor Perini’s Civil segment provides one relevant scale reference for heavy-civil activity, but the different segment structures prevent a simple company-wide ranking. A broader comparison requires current filings from each company, consistent inclusion rules and comparable measures beyond revenue. The figures here describe fiscal 2025 and are not investment advice.
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