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Side-by-side financial comparison of GRANITE CONSTRUCTION INC (GVA) and ICU MEDICAL INC (ICUI). Click either name above to swap in a different company.
GRANITE CONSTRUCTION INC is the larger business by last-quarter revenue ($912.5M vs $540.7M, roughly 1.7× ICU MEDICAL INC). ICU MEDICAL INC runs the higher net margin — -2.9% vs -4.0%, a 1.1% gap on every dollar of revenue. On growth, GRANITE CONSTRUCTION INC posted the faster year-over-year revenue change (30.4% vs -14.1%). Over the past eight quarters, ICU MEDICAL INC's revenue compounded faster (-2.3% CAGR vs -8.2%).
Granite Construction Inc. is a civil construction company and aggregate producer, a member of the S&P 600 Index based and founded in Watsonville, California, and is the parent corporation of Granite Construction Company. The company is both a heavy civil construction contractor and construction aggregate manufacturer, owning or leasing quarries in several Western states for extracting mostly sands, gravel, and crushed stone products. The company was under investigation from the SEC from 2019 ...
ICU Medical, Inc. is a medical technology company based in San Clemente, California. ICU Medical products are designed to prevent bloodstream infections and protect healthcare workers from exposure to infectious diseases or hazardous drugs. ICU Medical product line includes intravenous therapy (IV) products, pumps, needle-free vascular access devices, custom infusion sets, closed system hazardous drug handling devices and systems, sensor catheters, needle-free closed blood sampling systems, a...
GVA vs ICUI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $912.5M | $540.7M |
| Net Profit | $-36.4M | $-15.7M |
| Gross Margin | 11.2% | 37.5% |
| Operating Margin | — | 1.0% |
| Net Margin | -4.0% | -2.9% |
| Revenue YoY | 30.4% | -14.1% |
| Net Profit YoY | -23.9% | 34.0% |
| EPS (diluted) | $-0.96 | $-0.63 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $912.5M | — | ||
| Q4 25 | $1.2B | $540.7M | ||
| Q3 25 | $1.4B | $537.0M | ||
| Q2 25 | $1.1B | $548.9M | ||
| Q1 25 | $699.5M | $604.7M | ||
| Q4 24 | $977.3M | $629.8M | ||
| Q3 24 | $1.3B | $589.1M | ||
| Q2 24 | $1.1B | $596.5M |
| Q1 26 | $-36.4M | — | ||
| Q4 25 | $52.0M | $-15.7M | ||
| Q3 25 | $102.9M | $-3.4M | ||
| Q2 25 | $71.7M | $35.3M | ||
| Q1 25 | $-33.7M | $-15.5M | ||
| Q4 24 | $41.5M | $-23.8M | ||
| Q3 24 | $79.0M | $-33.0M | ||
| Q2 24 | $36.9M | $-21.4M |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 14.4% | 37.5% | ||
| Q3 25 | 18.2% | 37.4% | ||
| Q2 25 | 17.7% | 37.9% | ||
| Q1 25 | 12.0% | 34.7% | ||
| Q4 24 | 15.4% | 36.1% | ||
| Q3 24 | 15.9% | 34.8% | ||
| Q2 24 | 15.2% | 34.8% |
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | 1.0% | ||
| Q3 25 | 10.0% | 2.6% | ||
| Q2 25 | 9.2% | 1.9% | ||
| Q1 25 | -5.7% | 2.1% | ||
| Q4 24 | 6.2% | 6.0% | ||
| Q3 24 | 8.2% | 1.4% | ||
| Q2 24 | 7.9% | 1.3% |
| Q1 26 | -4.0% | — | ||
| Q4 25 | 4.5% | -2.9% | ||
| Q3 25 | 7.2% | -0.6% | ||
| Q2 25 | 6.4% | 6.4% | ||
| Q1 25 | -4.8% | -2.6% | ||
| Q4 24 | 4.2% | -3.8% | ||
| Q3 24 | 6.2% | -5.6% | ||
| Q2 24 | 3.4% | -3.6% |
| Q1 26 | $-0.96 | — | ||
| Q4 25 | $1.23 | $-0.63 | ||
| Q3 25 | $1.98 | $-0.14 | ||
| Q2 25 | $1.42 | $1.43 | ||
| Q1 25 | $-0.77 | $-0.63 | ||
| Q4 24 | $0.99 | $-0.97 | ||
| Q3 24 | $1.57 | $-1.35 | ||
| Q2 24 | $0.76 | $-0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $265.7M | — |
| Total DebtLower is stronger | $1.2B | — |
| Stockholders' EquityBook value | $1.1B | $2.1B |
| Total Assets | $3.8B | $4.1B |
| Debt / EquityLower = less leverage | 1.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $265.7M | — | ||
| Q4 25 | $600.2M | — | ||
| Q3 25 | $547.2M | — | ||
| Q2 25 | $385.3M | — | ||
| Q1 25 | $422.8M | — | ||
| Q4 24 | $585.6M | $308.6M | ||
| Q3 24 | $472.4M | $312.5M | ||
| Q2 24 | $377.2M | $302.6M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $740.4M | — | ||
| Q1 25 | $739.7M | — | ||
| Q4 24 | $739.0M | — | ||
| Q3 24 | $738.6M | — | ||
| Q2 24 | $738.9M | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $993.5M | $2.0B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $1.0B | $2.0B | ||
| Q2 24 | $931.7M | $2.0B |
| Q1 26 | $3.8B | — | ||
| Q4 25 | $4.0B | $4.1B | ||
| Q3 25 | $4.1B | $4.1B | ||
| Q2 25 | $3.1B | $4.1B | ||
| Q1 25 | $2.9B | $4.2B | ||
| Q4 24 | $3.0B | $4.2B | ||
| Q3 24 | $3.1B | $4.3B | ||
| Q2 24 | $2.9B | $4.3B |
| Q1 26 | 1.15× | — | ||
| Q4 25 | 1.14× | — | ||
| Q3 25 | 1.16× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.79× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $60.6M |
| Free Cash FlowOCF − Capex | — | $36.0M |
| FCF MarginFCF / Revenue | — | 6.6% |
| Capex IntensityCapex / Revenue | — | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $91.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $179.3M | $60.6M | ||
| Q3 25 | $284.2M | $56.7M | ||
| Q2 25 | $1.8M | $11.2M | ||
| Q1 25 | $3.6M | $51.3M | ||
| Q4 24 | $172.8M | $40.2M | ||
| Q3 24 | $261.5M | $36.1M | ||
| Q2 24 | $-2.0M | $82.0M |
| Q1 26 | — | — | ||
| Q4 25 | $128.8M | $36.0M | ||
| Q3 25 | $257.5M | $27.6M | ||
| Q2 25 | $-27.0M | $-8.5M | ||
| Q1 25 | $-28.6M | $36.7M | ||
| Q4 24 | $144.6M | $16.1M | ||
| Q3 24 | $220.2M | $16.2M | ||
| Q2 24 | $-41.0M | $62.5M |
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 6.6% | ||
| Q3 25 | 18.0% | 5.1% | ||
| Q2 25 | -2.4% | -1.5% | ||
| Q1 25 | -4.1% | 6.1% | ||
| Q4 24 | 14.8% | 2.6% | ||
| Q3 24 | 17.3% | 2.7% | ||
| Q2 24 | -3.8% | 10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.3% | 4.6% | ||
| Q3 25 | 1.9% | 5.4% | ||
| Q2 25 | 2.6% | 3.6% | ||
| Q1 25 | 4.6% | 2.4% | ||
| Q4 24 | 2.9% | 3.8% | ||
| Q3 24 | 3.2% | 3.4% | ||
| Q2 24 | 3.6% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.45× | — | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.02× | 0.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.17× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | -0.05× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GVA
Segment breakdown not available.
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
