Quanta Services (PWR)
Industrials · $96.7B market cap · SEC CIK 0001050915
fundamentals score out of 100
Next reports on Oct 28, 2026, before the open, with analysts expecting $5.04 in earnings per share.
The case for PWR
- Revenue up 26.3% on the year.
- Earnings per share up 35.4%.
- Has compounded revenue at 20.5% a year over five years.
- Up 65.4% over the past year.
The case against
- Very expensive at 72.8× earnings. Years of growth are already in the price.
- Net margin of 4% is thinner than 94% of Industrials companies.
- Stability is weak (33/100): beta 1.30, a 52% swing over the year.
- Free-cash-flow yield of 1.7% is lower than 92% of Industrials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 19 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 89 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 29 |
| Momentumhow the price has behaved lately | 62 |
| Stabilityhow violently it moves, what it owes and what it pays you | 33 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 72.8× |
|---|---|
| Price / book | 11.21× |
| Price / sales | 2.9× |
| Revenue growth (YoY) | +26.3% |
| EPS growth (YoY) | +35.4% |
| Gross margin | 15% |
| Operating margin | 6% |
| Net margin | 4% |
| Return on equity | 15% |
| Debt / equity | 0.63× |
| Current ratio | 1.10 |
| Dividend yield | 0.18% |
| Beta | 1.30 |
| 52-week range | $382.24 – $788.75 |
| Position in that range | 64% of the way up |
| 3-month return | -8.5% |
| 1-year return | +65.4% |
Five years of financials, as filed
Pulled from Quanta Services's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $28.5B | $23.7B | $20.9B | $17.1B | $13.0B |
| Gross profit | $4.3B | $3.5B | $2.9B | $2.5B | $2.0B |
| Operating income | $1.6B | $1.3B | $1.1B | $872M | $664M |
| Net income | $1.0B | $927M | $751M | $512M | $492M |
| Operating cash flow | $2.2B | $2.1B | $1.6B | $1.1B | $582M |
| Capital expenditure | $609M | $604M | $435M | $428M | $386M |
| Total assets | $24.9B | $18.7B | $16.2B | $13.5B | $12.9B |
| Total liabilities | $15.9B | $11.4B | $10.0B | $8.1B | $7.7B |
| Shareholder equity | $8.9B | $7.3B | $6.3B | $5.4B | $5.1B |
| Cash | $440M | $742M | $1.3B | $429M | $229M |
| Free cash flow | $1.6B | $1.5B | $1.1B | $703M | $197M |
| Gross margin | 15.0% | 14.8% | 14.1% | 14.8% | 15.0% |
| Operating margin | 5.7% | 5.7% | 5.4% | 5.1% | 5.1% |
| Net margin | 3.7% | 3.9% | 3.6% | 3.0% | 3.8% |
| Diluted shares | 151M | 150M | 149M | 148M | 145M |
Share count is up 4.1% over 4 years. Mild issuance.
What Quanta Services says it does
in Part I of this Annual Report Further, there has been a wave of blockbuster, or so-called "nuclear" verdicts resulting from liabilities arising out of vehicle and other accidents in recent years. Given this current claims environment, the amount of coverage available from excess insurance carriers is decreasing, and the premiums for this excess coverage are increasing significantly. For the foregoing reasons, our insurance and claims expenses may increase, or we could increase our self-insured retention as policies are renewed or replaced. In addition, we may assume additional risk within our captive insurance company that we may or may not reinsure. Although we reserve for anticipated losses and expenses and periodically evaluate and adjust our claims reserves to reflect our experience, estimating the number and severity of claims, as well as related costs to settle or resolve them, is inherently difficult and subject to a high…
Risk factors PWR lists in its 10-K
- Management’s Discussion and Analysis of Financial Condition and Results of Operations
- Financial Statements and Supplementary Data
- Significant Factors Impacting Results
- Weather, natural disasters and emergencies
- Project variability and performance
- Contract Estimates and Changes in Estimates
- Subcontract work and provision of materials
- Selling, general and administrative expenses
- Interest and other financing expenses
- Year ended December 31, 2025 compared to the year ended December 31, 2024
- Underground and Infrastructure Segment Results
- Year ended December 31, 2024 compared to the year ended December 31, 2023
- Net income attributable to common stock (GAAP as reported)
- Remaining Performance Obligations and Backlog