vs
GRANITE CONSTRUCTION INC（GVA）与西蒙地产集团（SPG）财务数据对比。点击上方公司名可切换其他公司
西蒙地产集团的季度营收约是GRANITE CONSTRUCTION INC的1.5倍（$1.8B vs $1.2B），西蒙地产集团净利率更高（197.6% vs 4.5%，领先193.1%），GRANITE CONSTRUCTION INC同比增速更快（19.2% vs 13.2%），西蒙地产集团自由现金流更多（$948.8M vs $128.8M），过去两年GRANITE CONSTRUCTION INC的营收复合增速更高（31.7% vs 11.4%）
Granite Construction Inc.是美国民用建筑企业及建筑骨料生产商，为标普600指数成分股，创始地及总部位于加利福尼亚州沃森维尔，是Granite Construction Company的母公司。公司主营重型民用建筑承包与建筑骨料生产，在美国西部多州持有或租赁采石场，主要开采砂、砾石、碎石等产品。
西蒙地产集团是美国头部房地产投资信托企业，核心投资范畴涵盖购物中心、奥特莱斯、社区及生活方式中心，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业的相关权益。
GVA vs SPG — 直观对比
营收规模更大
SPG
是对方的1.5倍
$1.2B
营收增速更快
GVA
高出6.0%
13.2%
净利率更高
SPG
高出193.1%
4.5%
自由现金流更多
SPG
多$820.1M
$128.8M
两年增速更快
GVA
近两年复合增速
11.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.8B |
| 净利润 | $52.0M | $3.5B |
| 毛利率 | 14.4% | — |
| 营业利润率 | 6.4% | 49.7% |
| 净利率 | 4.5% | 197.6% |
| 营收同比 | 19.2% | 13.2% |
| 净利润同比 | 25.4% | 358.7% |
| 每股收益（稀释后） | $1.23 | $9.34 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收GVASPG
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $699.5M | $1.5B | ||
| Q4 24 | $977.3M | $1.6B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $672.3M | $1.4B |
净利润GVASPG
| Q4 25 | $52.0M | $3.5B | ||
| Q3 25 | $102.9M | $702.7M | ||
| Q2 25 | $71.7M | $643.7M | ||
| Q1 25 | $-33.7M | $477.9M | ||
| Q4 24 | $41.5M | $771.8M | ||
| Q3 24 | $79.0M | $546.7M | ||
| Q2 24 | $36.9M | $569.4M | ||
| Q1 24 | $-31.0M | $841.2M |
毛利率GVASPG
| Q4 25 | 14.4% | — | ||
| Q3 25 | 18.2% | — | ||
| Q2 25 | 17.7% | — | ||
| Q1 25 | 12.0% | — | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 15.9% | — | ||
| Q2 24 | 15.2% | — | ||
| Q1 24 | 8.1% | — |
营业利润率GVASPG
| Q4 25 | 6.4% | 49.7% | ||
| Q3 25 | 10.0% | 50.8% | ||
| Q2 25 | 9.2% | 49.7% | ||
| Q1 25 | -5.7% | 49.4% | ||
| Q4 24 | 6.2% | 52.8% | ||
| Q3 24 | 8.2% | 51.9% | ||
| Q2 24 | 7.9% | 51.7% | ||
| Q1 24 | -6.4% | 51.0% |
净利率GVASPG
| Q4 25 | 4.5% | 197.6% | ||
| Q3 25 | 7.2% | 43.9% | ||
| Q2 25 | 6.4% | 43.0% | ||
| Q1 25 | -4.8% | 32.4% | ||
| Q4 24 | 4.2% | 48.8% | ||
| Q3 24 | 6.2% | 36.9% | ||
| Q2 24 | 3.4% | 39.0% | ||
| Q1 24 | -4.6% | 58.3% |
每股收益（稀释后）GVASPG
| Q4 25 | $1.23 | $9.34 | ||
| Q3 25 | $1.98 | $1.86 | ||
| Q2 25 | $1.42 | $1.70 | ||
| Q1 25 | $-0.77 | $1.27 | ||
| Q4 24 | $0.99 | $2.04 | ||
| Q3 24 | $1.57 | $1.46 | ||
| Q2 24 | $0.76 | $1.51 | ||
| Q1 24 | $-0.70 | $2.25 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $600.2M | $823.1M |
| 总债务越低越好 | $1.3B | $28.4B |
| 股东权益账面价值 | $1.2B | $5.2B |
| 总资产 | $4.0B | $40.6B |
| 负债/权益比越低杠杆越低 | 1.14× | 5.46× |
8季度趋势，按日历期对齐
现金及短期投资GVASPG
| Q4 25 | $600.2M | $823.1M | ||
| Q3 25 | $547.2M | $1.6B | ||
| Q2 25 | $385.3M | $1.2B | ||
| Q1 25 | $422.8M | $1.4B | ||
| Q4 24 | $585.6M | $1.4B | ||
| Q3 24 | $472.4M | $2.5B | ||
| Q2 24 | $377.2M | $2.5B | ||
| Q1 24 | $337.3M | $2.6B |
总债务GVASPG
| Q4 25 | $1.3B | $28.4B | ||
| Q3 25 | $1.3B | $25.8B | ||
| Q2 25 | $740.4M | $25.4B | ||
| Q1 25 | $739.7M | $24.8B | ||
| Q4 24 | $739.0M | $24.3B | ||
| Q3 24 | $738.6M | $25.4B | ||
| Q2 24 | $738.9M | $25.3B | ||
| Q1 24 | $553.2M | $25.5B |
股东权益GVASPG
| Q4 25 | $1.2B | $5.2B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $993.5M | $2.6B | ||
| Q4 24 | $1.0B | $2.9B | ||
| Q3 24 | $1.0B | $2.7B | ||
| Q2 24 | $931.7M | $2.9B | ||
| Q1 24 | $946.5M | $3.1B |
总资产GVASPG
| Q4 25 | $4.0B | $40.6B | ||
| Q3 25 | $4.1B | $33.6B | ||
| Q2 25 | $3.1B | $33.3B | ||
| Q1 25 | $2.9B | $32.5B | ||
| Q4 24 | $3.0B | $32.4B | ||
| Q3 24 | $3.1B | $33.3B | ||
| Q2 24 | $2.9B | $33.4B | ||
| Q1 24 | $2.6B | $33.7B |
负债/权益比GVASPG
| Q4 25 | 1.14× | 5.46× | ||
| Q3 25 | 1.16× | 10.98× | ||
| Q2 25 | 0.70× | 10.36× | ||
| Q1 25 | 0.74× | 9.50× | ||
| Q4 24 | 0.73× | 8.25× | ||
| Q3 24 | 0.73× | 9.37× | ||
| Q2 24 | 0.79× | 8.59× | ||
| Q1 24 | 0.58× | 8.22× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $179.3M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $128.8M | $948.8M |
| 自由现金流率自由现金流/营收 | 11.0% | 53.0% |
| 资本支出强度资本支出/营收 | 4.3% | 14.2% |
| 现金转化率经营现金流/净利润 | 3.45× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $330.6M | $3.2B |
8季度趋势，按日历期对齐
经营现金流GVASPG
| Q4 25 | $179.3M | $1.2B | ||
| Q3 25 | $284.2M | $890.3M | ||
| Q2 25 | $1.8M | $1.2B | ||
| Q1 25 | $3.6M | $827.2M | ||
| Q4 24 | $172.8M | $1.1B | ||
| Q3 24 | $261.5M | $892.9M | ||
| Q2 24 | $-2.0M | $1.1B | ||
| Q1 24 | $24.1M | $773.1M |
自由现金流GVASPG
| Q4 25 | $128.8M | $948.8M | ||
| Q3 25 | $257.5M | $685.0M | ||
| Q2 25 | $-27.0M | $971.3M | ||
| Q1 25 | $-28.6M | $597.0M | ||
| Q4 24 | $144.6M | $867.7M | ||
| Q3 24 | $220.2M | $706.5M | ||
| Q2 24 | $-41.0M | $874.8M | ||
| Q1 24 | $-3.8M | $610.1M |
自由现金流率GVASPG
| Q4 25 | 11.0% | 53.0% | ||
| Q3 25 | 18.0% | 42.8% | ||
| Q2 25 | -2.4% | 64.8% | ||
| Q1 25 | -4.1% | 40.5% | ||
| Q4 24 | 14.8% | 54.8% | ||
| Q3 24 | 17.3% | 47.7% | ||
| Q2 24 | -3.8% | 60.0% | ||
| Q1 24 | -0.6% | 42.3% |
资本支出强度GVASPG
| Q4 25 | 4.3% | 14.2% | ||
| Q3 25 | 1.9% | 12.8% | ||
| Q2 25 | 2.6% | 16.3% | ||
| Q1 25 | 4.6% | 15.6% | ||
| Q4 24 | 2.9% | 13.8% | ||
| Q3 24 | 3.2% | 12.6% | ||
| Q2 24 | 3.6% | 12.9% | ||
| Q1 24 | 4.1% | 11.3% |
现金转化率GVASPG
| Q4 25 | 3.45× | 0.34× | ||
| Q3 25 | 2.76× | 1.27× | ||
| Q2 25 | 0.02× | 1.89× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 4.17× | 1.41× | ||
| Q3 24 | 3.31× | 1.63× | ||
| Q2 24 | -0.05× | 1.87× | ||
| Q1 24 | — | 0.92× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
GVA
| Public | $680.2M | 58% |
| Private | $260.1M | 22% |
| Asphalt | $116.9M | 10% |
| Aggregates | $107.9M | 9% |
| Collaborative Arrangement | $7.0M | 1% |
| Performance Obligations | $3.5M | 0% |
SPG
| Real Estate Segment | $1.7B | 95% |
| Other | $86.3M | 5% |
