GVA - Comprehensive Filing Intelligence

FY•10-K•Filed Feb 13, 2026

5.0/10

Filing Health:CAUTION

Notable concerns that warrant closer review

Executive Summary

Significant revenue growth driven by strategic acquisitions and a strong public infrastructure funding environment.. Gross profit margins improved, particularly in the Materials segment, due to higher volumes, pricing, and acquisition contributions.. Lease liabilities total $158.5 million undiscounted.. Significant revenue growth in both Construction and Materials segments driven by acquisitions.

Top Concerns

!SG&A expenses increased due to higher labor costs and compensation, reflecting improved financial performance and general cost pressures.
!Significant increase in goodwill and identifiable intangible assets due to multiple acquisitions in 2025, with preliminary purchase price allocations pending finalization for some entities, potentiall...
!Lease liabilities total $158.5 million undiscounted.
!Potential material impact from legal proceedings, though current accruals are immaterial.
!Customer Concentration and Government Funding Dependency (high)

Top Positives

+Significant revenue growth driven by strategic acquisitions and a strong public infrastructure funding environment.
+Gross profit margins improved, particularly in the Materials segment, due to higher volumes, pricing, and acquisition contributions.
+SG&A expenses increased due to higher labor costs and compensation, reflecting improved financial performance and general cost pressures.

Analysis Dimensions

Our 5-pass AI analysis examines this filing across multiple dimensions. Each dimension score is derived from direct analysis of SEC filing text.

Narrative Intelligence

6.0/10

Management tone is confidently optimistic with focus on higher revenue and improved project execution in the construction segment..

Full analysis includes: tone changes vs prior quarter, margin driver breakdown, forward guidance analysis, strategic priorities.

Accounting Quality

7.0/10

Earnings quality shows moderate accounting practices.

Full analysis includes: reserve and allowance changes, non-recurring item analysis, stock-based compensation impact, disclosure concerns.

Hidden Liabilities

Off-balance sheet risk is moderate with $158,459k in identified exposure.

Full analysis includes: cloud and purchase commitments, VIE/SPE exposure, covenant compliance status, refinancing risk assessment.

Risk Landscape

3.0/10

Overall risk profile shows customer concentration and government funding dependency as primary concern.

Full analysis includes: 8 risk categories with severity, new vs escalated risks, management response assessment, risk trend analysis.

Segment Performance

7.0/10

Segment health analysis.

Full analysis includes: segment-by-segment revenue breakdown, geographic concentration risk, customer concentration analysis, segment margin trends.