QUANTA SERVICES, INC. PWR
Quanta Services, Inc. (together with its subsidiaries, "Quanta," "we," "us" or "our") is a leading provider of comprehensive infrastructure solutions for the electric and gas utility, power generation, large load center, manufacturing, communications, pipeline and energy industries in the United States, Canada, Australia and select other international markets. We provide design, engineering, procurement, construction, upgrade and repair and maintenance services for infrastructure within each of these industries, including electric power transmission and distribution networks; substation facilities; wind, solar and gas power generation and transmission and battery storage facilities; low voltage electrical, mechanical, plumbing and process infrastructure for large load centers, such as data center, advanced manufacturing, healthcare, pharmaceutical and industrial facilities; communications and cable multi-system operator networks; gas utility systems; pipeline transmission systems and facilities; and downstream industrial facilities. Our operations are decentralized and labor-intensive, and we rely on craft skilled labor personnel and experienced operators to successfully manage our day-to-day business. We also have an experienced management team, both at the executive and regional levels and within our subsidiaries, which we refer to as operating companies. We operate a fleet of owned and leased trucks and trailers, support vehicles and specialty construction equipment, as well as various proprietary technologies that enhance our service offerings. We have a large and diverse customer base, including many of the leading companies in the utility, renewable energy, hyperscaler, technology, communications, industrial and energy delivery markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.48B | $23.67B | $20.88B | $17.07B | $12.98B | $11.20B | $12.11B | $11.17B | $9.47B | $7.65B |
| Cost of revenue | $24.20B | $20.16B | $17.95B | $14.54B | $11.03B | $9.54B | $10.51B | $9.69B | $8.22B | $6.64B |
| Gross profit | $4.28B | $3.51B | $2.94B | $2.53B | $1.95B | $1.66B | $1.60B | $1.48B | $1.24B | $1.01B |
| SG&A | $2.19B | $1.82B | $1.56B | $1.34B | $1.16B | $975.1M | $956.0M | $857.6M | $777.9M | $653.3M |
| Operating income | $1.61B | $1.35B | $1.13B | $872.1M | $663.5M | $611.4M | $554.9M | $540.3M | $378.8M | $320.8M |
| Interest expense | $261.4M | $202.7M | $186.9M | $124.4M | $68.9M | $45.0M | $66.9M | $36.9M | $20.9M | $14.9M |
| Pre-tax income | $1.39B | $1.21B | $970.0M | $703.9M | $622.9M | $571.3M | $572.3M | $457.7M | $353.8M | $307.7M |
| Income tax | $347.6M | $284.7M | $219.3M | $192.2M | $130.9M | $119.4M | $165.5M | $161.7M | $35.5M | $107.2M |
| Net income | $1.04B | $927.3M | $750.7M | $511.6M | $492.0M | $445.6M | $402.0M | $293.3M | $315.0M | $200.1M |
| EPS, basic | 6.91 | 6.16 | 5.13 | 3.42 | 3.45 | 3.15 | 2.76 | 1.92 | 2.02 | 1.26 |
| EPS, diluted | 6.80 | 6.03 | 5.00 | 3.32 | 3.34 | 3.07 | 2.73 | 1.90 | 2.00 | 1.26 |
| Shares, diluted (wtd. avg.) | $151.3M | $150.1M | $148.8M | $148.0M | $145.4M | $145.2M | $147.5M | $154.2M | $157.2M | $157.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $439.5M | $742.0M | $1.29B | $428.5M | $229.1M | $184.6M | $164.8M | $78.7M | $138.3M | $112.2M |
| Receivables | $6.85B | $5.17B | $4.41B | $3.67B | $3.40B | $2.72B | $2.75B | $2.35B | $1.99B | $1.50B |
| Inventory | $370.4M | $260.2M | $175.7M | $103.3M | $84.7M | $50.5M | $55.7M | $107.7M | $80.9M | $88.5M |
| Total current assets | $9.90B | $7.85B | $7.68B | $5.54B | $4.73B | $3.59B | $3.83B | $3.33B | $2.87B | $2.29B |
| Property, plant and equipment | — | — | — | — | — | — | — | $1.28B | $1.29B | $1.17B |
| Goodwill | $7.32B | $5.32B | $4.05B | $3.59B | $3.53B | $2.12B | $2.02B | $1.90B | $1.87B | $1.60B |
| Other intangibles | $2.91B | $1.86B | $1.36B | $1.46B | $1.80B | $435.7M | $413.7M | $280.2M | $263.2M | $187.0M |
| Total assets | $24.93B | $18.68B | $16.24B | $13.46B | $12.86B | $8.40B | $8.33B | $7.08B | $6.48B | $5.35B |
| Accounts payable | $4.58B | $3.72B | $3.06B | $2.15B | $2.25B | $1.51B | $1.49B | $1.31B | $1.06B | $922.8M |
| Short-term debt | $763.9M | $62.7M | $535.2M | $37.5M | $29.2M | $14.8M | $74.9M | $65.6M | $1.2M | $4.8M |
| Total current liabilities | $8.72B | $6.03B | $5.21B | $3.41B | $3.16B | $2.14B | $2.26B | $1.81B | $1.49B | $1.21B |
| Long-term debt | — | — | — | — | — | — | — | $1.04B | $670.7M | $353.6M |
| Total liabilities | $15.90B | $11.35B | $9.95B | $8.07B | $7.74B | $4.05B | $4.28B | $3.47B | $2.68B | $2.01B |
| Retained earnings | $6.67B | $5.71B | $4.86B | $4.16B | $3.71B | $3.26B | $2.85B | $2.48B | $2.19B | $1.88B |
| Total equity | $8.94B | $7.32B | $6.28B | $5.40B | $5.12B | $4.35B | $4.05B | $3.61B | $3.80B | $3.34B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.23B | $2.08B | $1.58B | $1.13B | $582.4M | $1.12B | $526.6M | $358.8M | $371.9M | $390.7M |
| Depreciation and amortisation | $411.5M | $359.4M | $324.8M | $290.6M | $255.5M | $225.3M | $218.1M | $202.5M | $183.8M | $170.2M |
| Stock-based compensation | $181.9M | $150.5M | $126.8M | $105.6M | $88.3M | $91.6M | $52.0M | $52.5M | $46.4M | $42.8M |
| Capital expenditure | $609.2M | $604.1M | $434.8M | $427.6M | $385.9M | $260.1M | $261.8M | $293.6M | $244.7M | $212.6M |
| Investing cash flow | -$3.83B | -$2.29B | -$989.6M | -$617.2M | -$2.90B | -$499.3M | -$617.6M | -$402.7M | -$572.1M | -$264.4M |
| Financing cash flow | $1.27B | -$305.6M | $268.5M | -$311.1M | $2.36B | -$601.4M | $177.7M | -$16.6M | $227.8M | -$133.8M |
| Dividends paid | $60.4M | $54.2M | $47.8M | $41.1M | $34.0M | $28.9M | $23.2M | $0 | $0 | — |
| Buybacks | $134.6M | $0 | $350.0K | $127.8M | $66.7M | $247.2M | $20.1M | $443.2M | $50.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-150293.
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