- Granite Construction - AZ
- 2026
- 56
- 10
- 17.86%
- $52,626,649
- 5.21%
- 22.83%
- 7.45%
- $362,293,485
- Granite Construction - CA
- 2026
- 205
- 26
- 12.68%
- $162,792,796
- 5.00%
- 20.78%
- 10.02%
- $1,843,836,429
- Granite Construction - NV
- 2026
- 8
- 0
- 0.00%
- $0
- 0.00%
- 31.71%
- 11.46%
- $248,358,873
- Granite Construction - UT
- 2026
- 43
- 3
- 6.98%
- $5,763,482
- 2.40%
- 22.83%
- 9.25%
- $224,330,537
- Granite Construction - TX
- 2026
- 17
- 1
- 5.88%
- $10,965,650
- 4.77%
- 45.50%
- 21.24%
- $784,393,445
- Granite Construction - WA
- 2026
- 97
- 10
- 10.31%
- $23,615,651
- 9.14%
- 23.08%
- 8.24%
- $368,945,139
- Granite Construction - OR
- 2026
- 38
- 5
- 13.16%
- $8,107,084
- 6.28%
- 34.06%
- 14.75%
- $70,092,064
- Granite Construction - FL
- 2026
- 11
- 1
- 9.09%
- $6,294,664
- 6.29%
- 29.96%
- 8.95%
- $172,800,770

Granite Construction holds a **$174M** active backlog, with near-term cash flow supported by mobilization on 2026 awards totaling **$52.6M** at a 20% success rate. Several projects bid between February and July 2026, including the **$22.5M** Wickenburg Phx contract with **$13.8M** remaining, will drive initial billings. Limited recent low bids constrain new starts, keeping reliance on existing long-duration work.
Medium-term Outlook (6-12 months)
The **$244.8M** in 2025 awards at a 31.9% success rate will ramp up execution, sustaining revenue across multi-year projects such as the **$157M** 22nd Street Revitalization with **$122M** remaining. Backlog burn from contracts bid in late 2025 and early 2026 should maintain steady utilization through mid-2027. Pipeline replenishment remains critical to avoid gaps as shorter 2024 projects wind down.
Key Risk Period
Extended contract durations averaging over 300 months on major awards create prolonged cash conversion cycles, with risk peaking after 2026 bids are fully mobilized if success rates stay at 20%. Depletion of smaller JOC remainders totaling under **$4M** combined could expose liquidity shortfalls without accelerated new wins. Inconsistent bidding volume between **$52.6M** and **$244.8M** annually heightens exposure in 2027.
Recommendations
Target bidding improvements to exceed 25% win rates and rebuild annual awards above **$150M**. Accelerate progress billing on high-remaining projects to optimize near-term cash inflows from the **$174M** backlog. Review payment terms on long-duration contracts to mitigate working capital strain.
- Oro Valley Honeybee Wash (0RV-0-(206)T)
- ADOT
- 7/17/26
- Shared Use Path Lavender Pit East Segment (REBID)
- Bisbee
- 7/9/26
- Rehabilitate West Vehicle Services Rd
- Mesa
- 5/28/26
- TEP Houghton Substation
- Tucson Electric Power
- 5/28/26
- Ash Fork I 17 Country Club (040-C-(229)T)
- ADOT
- 5/15/26
- Western Hills Neighborhood Revitalization
- Tucson
- 5/12/26
- UA 2nd Street Bike Pedestrian Improvements FHWA
- Tucson
- 4/16/26
- Gila Bend Lukeville (085-A-(211)T)
- ADOT
- 2/27/26
- UPRR Phoenix LOUP MHX Expansion
- Union Pacific Railroad Co
- 2/26/26
- Wickenburg Phx (060-B-(230)T)
- ADOT
- 2/6/26
- Palo Verde Rd Michigan St Hawk
- Pima County
- $2,745,321
- 9/2/26
- Tucson Mountain Park Water Line Replacement
- Pima County
- $3,237,768
- 8/25/26
- Nogales Tucson Duval Mine (019-A-(248)T)
- ADOT
- $1,036,336
- 8/21/26
- Gilbert Stacey Rd Higley Rd (GIL-0-(223)T)
- ADOT
- $2,043,661
- 8/21/26
- Thompson Peak Parkway Bridge Reata Pass Wash
- Scottsdale
- $10,267,620
- 8/20/26
- Catalina State Park (PPM-0-NFA)
- ADOT
- $3,457,424
- 8/14/26
- Blacklidge Drive Bicycle Boulevard
- Tucson
- $2,493,317
- 8/10/26
- Superior Panther Dr (SUP-0-(203)T)
- ADOT
- $1,371,552
- 8/7/26
- Nogales Tombstone Hwy (082-A(210)T)
- ADOT
- $11,432,549
- 8/7/26
- Globe Lordsburg US 70 (070-A-(228)T)
- ADOT
- $11,113,266
- 7/31/26
- Elliot Rd Eastern Maricopa Floodway Ellsworth Rd
- Mesa
- $24,289,548
- 7/23/26
- Oro Valley Honeybee Wash (0RV-0-(206)T)
- ADOT
- $652,682
- 7/17/26
- Ash Fork Parks Rest Bellemont (040-C-(233)T)
- ADOT
- $1,097,242
- 7/17/26
- Casa Grande Thornton Rd (CSG-0(214)T)
- ADOT
- $4,244,307
- 7/17/26
- South Houghton Multi Use Path Sahuarita Rd
- Pima County
- $1,299,903
- 7/14/26
- Surprise Waddell Rd Litchfield (SUR-0-(237)T)
- ADOT
- $914,753
- 7/10/26
- Ina Road Meredith Blvd Median Modifications
- Marana
- $426,277
- 7/9/26
- Shared Use Path Lavender Pit East Segment (REBID)
- Bisbee
- $3,856,410
- 7/9/26
- Southern Avenue 51st Avenue 37th Lane
- Maricopa County
- $19,967,720
- 7/9/26
- Terminal Apron Pavement Reconstruction Casa Grande Airport
- Casa Grande
- $1,840,420
- 6/16/26
- I 8 I 10 DMS (999-A-(393)T)
- ADOT
- $3,303,398
- 6/12/26
- Apache Road West Half Watkins Road Yuma Road Roadway Improvements
- Buckeye
- $3,395,900
- 6/11/26
- Tucson Heights Highland Park Addition Mill Fill
- Tucson
- $11,071,002
- 6/9/26
- Gila Bend Lukeville Qilotosa (085-A-(210)T)
- ADOT
- $3,543,860
- 6/5/26
- 32nd St Thomas Rd Intersection Safety Improvements
- Phoenix
- $1,696,090
- 6/2/26
- Kyrene Branch Highline Canal Shared Use Paths
- Chandler
- $5,532,148
- 5/28/26
- Olive Ave SR 303L Reems Road
- Maricopa County
- $24,623,854
- 5/28/26
- Rehabilitate West Vehicle Services Rd
- Mesa
- $792,291
- 5/28/26
- Construct Taxiway I Future Taxiway H
- Mesa
- $540,177
- 5/28/26
- TEP Houghton Substation
- Tucson Electric Power
- $1,000,000
- 5/28/26
- Skunk Creek Crossing Desert Hills Drive
- Maricopa County
- $5,838,483
- 5/22/26
- Ash Fork I 17 Country Club (040-C-(229)T)
- ADOT
- $2,359,486
- 5/15/26
- Western Hills Neighborhood Revitalization
- Tucson
- $7,684,531
- 5/12/26
- Wintersburg Rd Van Buren St Salome Hwy
- Maricopa County
- $1,643,481
- 5/7/26
- Van Buren St 7th St 24th St Signal Pedestrian Improvements
- Phoenix
- $20,128,258
- 5/5/26
- Oracle Jct Florence (079-A-(214)T)
- ADOT
- $6,911,863
- 4/24/26
- Holbrook Springerville (180-B-(211)T)
- ADOT
- $12,168,987
- 4/24/26
- Nogales Tucson I 19 (019-A-(243)T)
- ADOT
- $57,291,187
- 4/17/26
- UA 2nd Street Bike Pedestrian Improvements FHWA
- Tucson
- $462,234
- 4/16/26
- Hwy 89 Smokerise Rebuild
- Flagstaff
- $1,451,852
- 4/10/26
- Payson Show Low (260-B-NFA)(260-B-(232)T)
- ADOT
- $5,511,703
- 4/10/26
- Sweetwater Ave Sewer Relief
- Phoenix
- $6,740,181
- 4/7/26
- Yuma County (YUM YYU-0(223)T) (YYU-0-(226)T)
- ADOT
- $1,749,039
- 3/6/26
- Flagstaff Holbrook Hwy (040-D(250)T)
- ADOT
- $4,822,424
- 3/6/26
- Mohave Rattlesnake Detention Basin Construction Phase 1
- Mohave County
- $2,924,489
- 3/3/26
- Gila Bend Lukeville (085-A-(211)T)
- ADOT
- $11,347,477
- 2/27/26
- UPRR Phoenix LOUP MHX Expansion
- Union Pacific Railroad Co
- $2,000,000
- 2/26/26
- Cordes Jct (017-B-(236)T)
- ADOT
- $2,840,527
- 2/20/26
- Yavapai Crookton Rd (YYV-0-(225)T)
- ADOT
- $2,545,717
- 2/6/26
- Douglas Chino Rd (DGS-0-(205)T)
- ADOT
- $4,197,214
- 2/6/26
- Wickenburg Phx (060-B-(230)T)
- ADOT
- $22,471,538
- 2/6/26
- Sanders Road Drainage Improvements
- Marana
- $3,258,605
- 2/5/26
- West Side Bicycle Boulevards
- Tucson
- $2,861,503
- 1/30/26
- Sun City West Paving Rehabilitation Units 35 38A 40
- Maricopa County
- $3,664,266
- 1/27/26
- Prop 411 Military Plaza Mill Fill
- Tucson
- $4,864,464
- 1/21/26
- Williams (040-A-(235)T)
- ADOT
- $1,267,180
- 1/9/26
- Oro Valley Honeybee Wash (0RV-0-(206)T)
- ADOT
- $652,682
- 09/15/26
- 115
- 0%
- -
- $652,682
- Shared Use Path Lavender Pit East Segment (REBID)
- Bisbee
- $3,856,410
- 09/07/26
- 120
- 0%
- -
- $3,856,410
- Williams (040-A-(235)T)
- Mesa
- $792,291
- 07/27/26
- 120
- 31.7%
- $198,073
- $541,399
- Williams (040-A-(235)T)
- Tucson Electric Power
- $1,000,000
- 07/27/26
- 120
- 32.5%
- $250,000
- $675,000
- Williams (040-A-(235)T)
- ADOT
- $2,359,486
- 07/14/26
- 210
- 24.3%
- $337,069
- $1,786,468
- Williams (040-A-(235)T)
- Tucson
- $7,684,531
- 07/11/26
- 360
- 15.0%
- $640,378
- $6,531,851
- Williams (040-A-(235)T)
- Tucson
- $462,234
- 06/15/26
- 90
- 88.9%
- $154,078
- $51,359
- Williams (040-A-(235)T)
- ADOT
- $11,347,477
- 04/28/26
- 330
- 38.8%
- $1,031,589
- $6,946,031
- Williams (040-A-(235)T)
- ADOT
- $22,471,538
- 04/07/26
- 330
- 45.2%
- $2,042,867
- $12,325,298
- Williams (040-A-(235)T)
- Tucson
- $157,282,410
- 01/03/26
- 975
- 24.9%
- $4,839,459
- $118,082,794
- Williams (040-A-(235)T)
- UniSource Energy Service
- $25,000,000
- 12/29/25
- 365
- 67.9%
- $2,054,795
- $8,013,699
- Williams (040-A-(235)T)
- ADOT
- $6,581,433
- 11/18/25
- 365
- 79.2%
- $540,940
- $1,370,381
- Williams (040-A-(235)T)
- Chandler
- $11,099,566
- 01/07/25
- 630
- 96.0%
- $528,551
- $440,459
- Williams (040-A-(235)T)
- Pima County
- $5,000,000
- 11/01/23
- 1500
- 69.2%
- $100,000
- $1,540,000
- Williams (040-A-(235)T)
- Pima County
- $10,000,000
- 07/10/22
- 1700
- 89.2%
- $176,471
- $1,082,353
- Williams (040-A-(235)T)
- Pima County
- $10,000,000
- 03/28/22
- 1700
- 95.3%
- $176,471
- $470,588
- $13,070,741
- $164,366,772




