— Know what they know.
/
Not Investment Advice

PWR

NYSE · USD
Quanta Services, Inc.
Industrials · Engineering & Construction
CEO Earl C. Austin Jr. Employees 69,500 R&D / revenue 0.0%
Last price
$631.86−1.61%last session
Market cap
$95.0B
P/E (TTM)
71.5x
From 52w high
−19.9%
From 52w low
+56.2%
1-year return
+44.4%
RSI 14 · vs SMA200
42.3 · +2.2%
IS score
66.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

PWR   SPY   XLI (sector ETF) · weekly closes
100120140160180Jan 26Apr 26Jul 26Oct 26PWR 144SPY 116XLI 111

Score DNA

Each bar is a 0-100 score within the scored universe
31
Profitability
77
Growth
27
Value
100
Momentum
100
Risk (safety)
70
Quality
52
Balance sheet
60
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 5.4Beta 1.202 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
27 open-market sales, $123.2M
Form 144 notices (12m): 6, $140.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-08-27
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+197
310 new holders, 96 closed
1,933 filers hold 89.5% · 670 added, 713 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+278
1,304 funds adding shares
1,026 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
29.7%
20-day avg 54.6%, 50-day avg 45.4%
Latest 24.9 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$28.4B
Revenue growth YoY+19.8%
Gross margin13.0%
Operating income$1.6B
Operating margin5.8%
Net income$1.0B
Net margin3.6%
EPS (diluted)$6.80
Cash flow
Operating cash flow$2.2B
Capital expenditure$609.2M
Free cash flow$1.6B
FCF conversion (FCF / OCF)72.7%
Stock-based compensation$181.9M
FCF less SBC$1.4B
Buybacks$134.6M
Dividends$60.4M
Balance sheet & returns
Cash & short-term investments$439.5M
Total debt$1.2B
Net debt$748.4M
Shareholders' equity$9.0B
Goodwill & intangibles$10.2B
Debt / equity0.69
ROE (TTM)14.9%
ROIC (TTM)8.4%
Operating margin by fiscal year
4.9%FY20215.3%FY20225.4%FY20235.6%FY20245.8%FY2025
Revenue $13.0B (FY2021) to $28.4B (FY2025), a 21.6% CAGR.

Valuation

P/E (TTM)71.5x
EV / EBITDA32.6x
Price / sales2.90x
Price / FCF39.7x
FCF yield2.52%
Buyback yield0.14%
SBC / revenue0.7%
Price / book9.85x
Forward P/E FY202637.7x
Forward P/E FY202732.0x
Forward P/E FY202827.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $759.08 across 13 analysts last quarter is theirs, not ours.

PWR vs industry median

153 companies in Engineering & Construction
Gross margin 14.4% 14.9% Operating margin 6.2% 5.6% Net margin 4.1% 3.2% ROIC 8.4% 9.6%
PWR (TTM)Industry median Asset turnover 1.16 vs industry 1.08 · financial leverage 2.94

Earnings delivery

Next report 2026-10-29 · consensus EPS $4.95
100%
beat rate, 12 of 12 quarters
+5.4%
median EPS surprise
12
longest beat streak
+6+3+9+1+1+12+7+2+2+5+31+28
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
PWR Quanta Services, Inc. $95.0B71.5x14.9%4.1%+19.8% +44.4%
FIX Comfort Systems USA, Inc. $50.6B35.4x55.3%13.5%+46.1% +71.6%
EME EMCOR Group, Inc. $31.8B22.5x40.3%7.8%+18.9% +4.9%
APG APi Group Corporation $17.4Bn/m10.1%4.4%+14.1% +16.6%
J Jacobs Solutions Inc. $16.5B49.2x9.4%3.3%+84.3% −9.4%
MTZ MasTec, Inc. $15.3B30.1x15.7%3.0%+23.5% —
STRL Sterling Infrastructure, Inc $13.0B30.2x38.5%13.3%+60.8% —
IESC IES Holdings, Inc. $10.1B22.1x45.4%12.3%+22.7% —
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.

Recent 8-K filings

2026-09-15Officer/Director Change; Regulation FD; Exhibits
2026-08-06Material Agreement; Financial Obligation; Exhibits
2026-08-04Material Agreement; Regulation FD; Exhibits
2026-07-30Earnings Release; Regulation FD; Exhibits
2026-05-27Shareholder Vote; Other Events; Exhibits
2026-04-30Earnings Release; Regulation FD; Exhibits

Context

Shares outstanding150,343,000
Free float99.1%
Institutional ownership89.5%
Beta1.20
Dividend yield0.07%
Last dividend$0.11 on 2026-10-01
50 / 200-day average$651.13 / $617.23
Large-cap Industrials median P/E29.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where PWR sits among 28 scored companies in Engineering & Construction (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasurePWRIndustry medianIndustry percentileSector median
P/E (TTM) 71.0x 30.3x
91st		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) 2.28 1.02
81st		 1.42
Price / sales 2.9x 1.3x
81st		 2.0x
Price / book 9.9x 4.9x
85th		 2.9x
Price / tangible book —
Price / free cash flow 39.7x 24.5x
83rd		 20.8x
Price / operating cash flow 29.9x 15.7x
96th		 14.5x
Enterprise value $101.1B $6.1B
100th		 $4.8B
EV / sales 3.1x 1.6x
81st		 2.4x
EV / EBITDA 33.3x 15.4x
96th		 13.6x
EV / EBIT 48.8x 21.4x
88th		 19.9x
EV / free cash flow 42.3x 24.9x
78th		 24.3x
Earnings yield 1.4% 3.2%
22nd		 3.3%
FCF yield 2.5% 3.8%
30th		 3.8%
Operating cash flow yield 3.3% 5.4%
15th		 6.2%
Graham number (per share) $111.73 $41.34
83rd		 $38.21

Profitability (TTM)

MeasurePWRIndustry medianIndustry percentileSector median
Gross margin 14.4% 16.4%
33rd		 30.5%
EBITDA margin 9.3% 9.6%
48th		 14.3%
Operating margin 6.2% 7.0%
41st		 9.8%
EBIT margin 6.3% 6.8%
41st		 9.9%
Net margin 4.1% 4.0%
52nd		 6.0%
NOPAT margin 4.7% 6.2%
33rd		 7.8%
FCF margin 7.3% 5.8%
63rd		 7.0%
Operating cash flow margin 9.7% 9.3%
59th		 11.2%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 7.3% 7.2%
56th		 14.1%
Stock comp / revenue 0.7% 0.6%
56th		 0.6%
Effective tax rate 24.0% 23.7%
56th		 21.0%

Returns on capital

MeasurePWRIndustry medianIndustry percentileSector median
ROE (on average equity) 15.3% 15.5%
48th		 11.9%
ROA 5.6% 4.7%
56th		 4.8%
ROIC 9.8% 12.5%
44th		 8.7%
ROCE 11.8% 12.0%
48th		 9.4%
Return on tangible assets 8.6% 8.5%
52nd		 7.9%
Cash ROIC (OCF / invested capital) 20.2% 17.1%
58th		 12.8%
Gross profitability (GP / assets) 16.7% 18.9%
30th		 19.2%
ROIC, 3-yr average 7.9% 7.9%
50th		 7.8%
ROIC, 5-yr average 8.7% 6.9%
61st		 8.6%
ROE, 5-yr average 11.4% 11.2%
54th		 12.5%
Incremental ROIC 24.6% 43.5%
40th		 20.5%

Growth

MeasurePWRIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 25.8% 18.5%
72nd		 8.6%
Revenue growth (QoQ) 21.4% 14.1%
70th		 9.9%
Revenue CAGR, 3 yr 21.3% 13.9%
83rd		 5.0%
Revenue CAGR, 5 yr 23.0% 15.3%
83rd		 8.3%
Gross profit CAGR, 3 yr 25.7% 22.8%
52nd		 6.5%
Operating income CAGR, 3 yr 27.1% 33.9%
48th		 6.4%
Net income growth (TTM YoY) 37.7% 35.9%
55th		 11.3%
Net income CAGR, 3 yr 32.2% 23.3%
58th		 6.6%
EPS growth (TTM YoY) 36.3% 29.6%
59th		 13.3%
EPS CAGR, 3 yr 31.1% 22.5%
58th		 5.6%
EPS CAGR, 5 yr 18.6% 18.7%
39th		 8.3%
FCF growth (TTM YoY) 76.0% 14.9%
77th		 14.7%
FCF CAGR, 3 yr 50.0% 28.0%
63rd		 12.2%
Operating cash flow CAGR, 3 yr 42.8% 31.3%
67th		 8.8%
Book value CAGR, 3 yr 18.0% 10.1%
71st		 7.3%
Dividend CAGR, 3 yr 2.7% 4.8%
27th		 2.7%
Sustainable growth rate 14.6% 15.4%
39th		 11.0%

Margin history & stability

MeasurePWRIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 13.4% 16.9%
29th		 30.6%
Operating margin, 3-yr average 5.8% 6.4%
38th		 10.0%
Net margin, 3-yr average 3.8% 3.7%
54th		 6.2%
FCF margin, 3-yr average 6.5% 5.8%
54th		 7.1%
Revenue stability (0-1) 0.98 0.91
83rd		 0.81
Earnings stability (0-1) 0.86 0.52
75th		 0.47
Margin stability (0-1) 0.93 0.86
83rd		 0.90

Liquidity (latest quarter)

MeasurePWRIndustry medianIndustry percentileSector median
Cash & short-term investments $506.4M $313.8M
67th		 $249.6M
Net cash (− = net debt) −$6.1B −$336.6M
0th		 −$666.5M
Working capital $1.1B $431.9M
81st		 $376.4M
Current ratio 1.10 1.38
7th		 1.79
Quick ratio 1.05 1.33
11th		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.05 0.23
7th		 0.32
Defensive interval (days) 1,431 days 1,326 days
58th		 614 days

Leverage & solvency (latest quarter)

MeasurePWRIndustry medianIndustry percentileSector median
Total debt $6.6B $782.7M
100th		 $919.8M
Debt / equity 0.69 0.69
48th		 0.65
Net debt / equity 0.63 0.59
52nd		 0.46
Debt / assets 23.3% 23.7%
48th		 29.3%
Debt / capital 40.7% 40.8%
48th		 39.5%
Debt / EBITDA 2.18 2.54
44th		 2.44
Net debt / EBITDA 2.01 2.12
48th		 1.86
Interest coverage (EBIT / interest) 7.0x 5.8x
54th		 5.0x
Cash interest coverage 10.8x 7.6x
62nd		 6.1x
Debt payback (years of OCF) 2.1 yrs 2.9 yrs
46th		 3.2 yrs
Liabilities / assets 65.6% 65.0%
56th		 56.7%
IS credit model rating AA- — —
Implied credit spread (bps) 100 175
33rd		 200

Efficiency

MeasurePWRIndustry medianIndustry percentileSector median
Asset turnover 1.36 1.30
59th		 0.75
Fixed asset turnover 7.87 11.15
33rd		 5.14
Inventory turnover 74.1 71.6
57th		 5.0
Receivables turnover 4.7 5.2
44th		 6.7
Days sales outstanding 77 days 70 days
56th		 54 days
Days inventory outstanding 5 days 5 days
47th		 72 days
Days payables outstanding 38 days 37 days
56th		 41 days
Cash conversion cycle (days) 44 days 45 days
44th		 63 days
Capex / revenue 2.4% 1.9%
59th		 3.0%
Capex / depreciation 0.82 0.77
52nd		 0.76
Operating expense ratio 8.9% 7.7%
59th		 17.7%

Cash flow & earnings quality

MeasurePWRIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.38 1.68
74th		 1.50
FCF / net income 1.79 1.20
83rd		 1.15
FCF / operating cash flow 75.2% 78.0%
38th		 74.0%
Capex / operating cash flow 24.8% 22.0%
62nd		 26.1%
Accruals ratio -7.6% -4.1%
30th		 -4.0%
Sloan accruals ratio -8.7% -1.6%
15th		 -2.4%
Earnings quality score (0-1) 0.75 0.75
4th		 1.00

Dividends & buybacks

MeasurePWRIndustry medianIndustry percentileSector median
Dividend yield 0.1% 0.0%
56th		 0.6%
Dividend per share (TTM) $0.44 $0.00
70th		 $0.44
Payout ratio (dividends / net income) 4.8% 2.0%
57th		 22.5%
Dividends / FCF 2.7% 2.1%
52nd		 19.6%
Dividend growth (YoY) 9.8% 15.0%
36th		 5.6%
Buyback yield 0.2% 0.4%
37th		 0.5%
Shareholder yield (dividends + buybacks) 0.2% 0.5%
44th		 2.0%
Share count change (YoY) 1.0% 0.2%
68th		 0.0%
Buybacks, last 5 years $843.4M $129.4M
81st		 $76.0M

Scores & forensic checks

MeasurePWRIndustry medianIndustry percentileSector median
IS score 67 59
67th		 53
IS profitability 31 30
52nd		 37
IS growth 77 69
76th		 54
IS value 27 31
30th		 47
IS momentum 100 88
76th		 76
IS risk (safety) 100 90
56th		 80
IS quality 70 62
63rd		 67
IS balance sheet 52 52
52nd		 56
IS earnings quality 60 67
37th		 70
IS cash flow 66 57
70th		 54
Piotroski F-score (0-9) 7 6
70th		 6
Altman Z-score 5.4 3.8
69th		 3.3
Beneish M-score −2.35 −2.51
68th		 −2.52
Ohlson O-score −7.65 −7.13
30th		 −7.49
IS credit score 81 69
63rd		 65

Per share

MeasurePWRIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $8.78 $2.70
74th		 $2.21
Book value per share $63.22 $20.89
89th		 $18.38
Tangible book per share −$8.94 $3.35
15th		 $4.39
Revenue per share $215.02 $91.28
85th		 $36.64
FCF per share $15.69 $4.15
89th		 $2.70
Operating cash flow per share $20.85 $5.90
85th		 $4.28
Cash per share $3.32 $3.92
41st		 $3.02

Size (TTM)

MeasurePWRIndustry medianIndustry percentileSector median
Market cap $95.0B $5.2B
100th		 $3.9B
Revenue $32.8B $4.6B
100th		 $2.7B
EBITDA $3.0B $348.6M
100th		 $394.8M
Net income $1.3B $172.3M
93rd		 $136.3M
Free cash flow $2.4B $286.8M
100th		 $162.9M
Total assets $28.3B $4.5B
100th		 $3.5B
Shareholders' equity $9.6B $1.3B
100th		 $1.4B
Employees 69,500 9,200
100th		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-09Rubin Ellen
Director
 Award / grant 203——203
2026-06-01Baxter Warner L
Director
 Option exercise 559——1,181
2026-06-01Baxter Warner L
Director
 Option exercise 559——249
2026-06-01Beneby Doyle N
Director
 Option exercise 870——29,657
2026-06-01Beneby Doyle N
Director
 Option exercise 870——387
2026-06-01Fried Bernard
Director
 Option exercise 559——10,165
2026-06-01Fried Bernard
Director
 Option exercise 559——14,999
2026-06-01Ladhani Holli C.
Director
 Option exercise 559——4,743
2026-06-01Ladhani Holli C.
Director
 Return to issuer 196$711.73$139,4994,547
2026-06-01Ladhani Holli C.
Director
 Option exercise 559——249
2026-06-01Rowe Robert Scott
Director
 Option exercise 559——2,297
2026-06-01Rowe Robert Scott
Director
 Option exercise 559——1,220

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired102,582—
GiftDisposed36,553—
Open-market saleDisposed27159,992$123.2M
Option exerciseDisposed99,606—
Option exerciseAcquired99,606—
Return to issuerDisposed1196$139,499
—Disposed20—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 6 notices · 191,994 shares · $140.6M
FiledFilerShares proposedEst. proceeds
2026-05-05Earl Austin Jr.155,992$123.3M
2026-05-04Nobel Paul4,000$3.0M
2025-11-06Ducey Gerald A Jr7,653$3.4M
2025-11-06Wayne Donald14,000$6.2M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 33 trades (7 purchases) · Senate 2 (2 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-27Gilbert CisnerosHousePurchase$15,001 - $50,0002026-09-11
2026-08-10Ro KhannaHousePurchase$1,001 - $15,0002026-09-07
2026-05-14April DelaneyHouseSale$15,001 - $50,0002026-06-08
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
2025-07-21Angus KingSenatePurchase$1,001 - $15,0002025-08-18
2025-07-21Angus KingSenatePurchase$1,001 - $15,0002025-08-18
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.13,061,264$9.4B8.69%
VANGUARD CAPITAL MANAGEMENT LLC9,802,251$7.1B6.52%
VANGUARD PORTFOLIO MANAGEMENT LLC6,927,511$5.0B4.61%
STATE STREET CORP6,581,807$4.7B4.38%
JPMORGAN CHASE & CO4,205,143$3.0B2.80%
GEODE CAPITAL MANAGEMENT, LLC3,523,903$2.5B2.34%
FMR LLC3,510,968$2.5B2.34%
BANK OF AMERICA CORP /DE/3,172,683$2.3B2.11%
MORGAN STANLEY2,201,309$1.6B1.46%
Capital World Investors2,006,144$1.4B1.33%
FIRST TRUST ADVISORS LP1,945,228$1.4B1.29%
NORGES BANK1,930,250$1.4B1.28%
Nuveen, LLC1,849,591$1.3B1.23%
GOLDMAN SACHS GROUP INC1,756,854$1.3B1.17%
Invesco Ltd.1,602,548$1.2B1.07%

Institutional ownership by quarter

2023-092026-0689.5%
% of shares held by 13F filers
2023-092026-061,933
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,93389.5%31067071396
2026-03-311,73690.3%260620636107
2025-12-311,61193.0%26658653467
2025-09-301,44090.2%17756948397
2025-06-301,38392.5%21554046384
2025-03-311,27489.8%164553403157
2024-12-311,28490.9%20547443573
2024-09-301,17588.2%164433388107
2024-06-301,12988.4%14745437163
2024-03-311,06086.3%13537539672
2023-12-311,01187.9%16631638893
2023-09-3095085.8%9732737466

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%11,160,325
2025-11-13SCHEDULE 13G/ACapital World Investors4.6%6,828,188
2025-10-30SCHEDULE 13G/AThe Vanguard Group12.2%18,143,230
2025-05-13SCHEDULE 13GCapital World Investors5.6%8,332,177
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.13%$3.1B
VTSAX0.13%$3.1B
VTI0.13%$3.1B
VSMPX0.13%$3.1B
VFINX0.15%$2.5B
VFFSX0.15%$2.5B

Share structure

Shares outstanding150,343,000
Float148,969,254
Free float99.1%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$13.0B$17.1B$20.9B$23.7B$28.4B
Cost of revenue$11.2B$14.9B$18.2B$20.5B$24.7B
Gross profit$1.8B$2.2B$2.6B$3.1B$3.7B
R&D$0$0$0$0$0
SG&A$1.1B$1.2B$1.5B$1.8B$2.1B
Operating income$679.3M$955.2M$1.1B$1.3B$1.6B
EBITDA$1.1B$1.5B$1.8B$2.2B$2.5B
Pretax income$622.9M$703.9M$970.0M$1.2B$1.4B
Income tax$130.9M$192.2M$219.3M$284.7M$369.1M
Net income$486.0M$491.2M$744.7M$904.8M$1.0B
EPS, diluted$3.34$3.32$5.00$6.03$6.80
Diluted shares145.4M148.0M148.8M150.1M151.7M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$229.1M$428.5M$1.3B$742.0M$439.5M
Receivables$4.2B$4.8B$5.8B$6.4B$6.8B
Inventory$84.7M$103.3M$175.7M$260.2M$370.4M
Total current assets$4.7B$5.5B$7.7B$7.9B$9.9B
PP&E, net$2.2B$2.3B$2.6B$3.0B$3.9B
Goodwill & intangibles$5.3B$5.0B$5.4B$7.2B$10.2B
Total assets$12.9B$13.5B$16.2B$18.7B$24.9B
Accounts payable$1.3B$1.3B$2.0B$2.1B$0
Total current liabilities$3.2B$3.4B$5.2B$6.0B$8.7B
Long-term debt$3.7B$3.7B$3.7B$4.1B$309.7M
Total liabilities$7.7B$8.1B$10.0B$11.4B$15.9B
Shareholders' equity$5.1B$5.4B$6.3B$7.3B$9.0B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$492.0M$511.6M$744.7M$927.3M$1.0B
Depreciation & amortization$420.9M$644.6M$613.8M$742.3M$910.3M
Stock-based compensation$88.3M$105.6M$126.8M$150.5M$181.9M
Change in working capital−$457.7M−$229.7M$62.6M$246.2M$16.0M
Operating cash flow$582.4M$1.1B$1.6B$2.1B$2.2B
Capital expenditure−$386.7M−$428.8M−$434.8M−$604.1M−$609.2M
Free cash flow$195.7M$701.5M$1.1B$1.5B$1.6B
Investing cash flow−$2.9B−$617.2M−$989.6M−$2.3B−$3.8B
Net debt issued / repaid$2.5B−$23.4M$408.7M−$92.1M$1.7B
Buybacks−$66.7M−$127.8M−$350,000−$155.6M−$134.6M
Dividends paid−$34.0M−$41.1M−$47.8M−$54.2M−$60.4M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin13.8%12.7%12.7%13.2%13.0%
Operating margin4.9%5.3%5.4%5.6%5.8%
Net margin3.7%2.9%3.6%3.8%3.6%
FCF margin1.5%4.1%5.4%6.2%5.7%
ROE10.3%9.4%12.8%13.3%12.7%
ROIC5.6%7.4%9.3%9.3%12.5%
ROA4.6%3.7%5.0%5.2%4.7%
Debt / equity0.780.740.710.610.13
Interest coverage10.0x6.7x6.2x7.0x6.4x
Current ratio1.501.631.471.301.14
Revenue growth+15.9%+31.5%+22.3%+13.4%+19.8%
EPS growth+7.0%+1.3%+50.2%+20.1%+12.9%
P/E at year end34.6x42.6x43.1x52.5x62.2x
EV / EBITDA at year end18.5x16.6x19.9x23.8x25.7x
FCF yield at year end1.16%3.35%3.53%3.11%2.53%
Dividend payout7.0%8.4%6.4%6.0%5.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Electric Power Infrastructure$7.6B$8.9B$9.7B$11.2B$23.0B
Renewable Energy Infrastructure Solutions$1.8B$3.8B$6.2B$7.8B—
Underground Utility and Infrastructure Solutions$3.5B$4.4B$5.0B$4.7B$5.5B

Revenue by region · FY2025

UNITED STATES$26.5B · 93%
CANADA$1.0B · 4%
AUSTRALIA$779.5M · 3%
Non-US$198.4M · 1%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $4.95 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$39.6B$39.1B – $39.8B$16.74$16.09 – $17.191937.7x
2027$46.0B$43.4B – $49.1B$19.73$17.77 – $22.381832.0x
2028$52.4B$48.5B – $58.7B$23.26$21.17 – $25.151027.2x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$3.31$4.24+28.1%$8.6B$9.6B+11.0%
2026-04-30$2.04$2.68+31.4%$7.0B$7.9B+12.5%
2026-02-19$3.02$3.16+4.6%$7.4B$7.8B+6.5%
2025-10-30$3.25$3.33+2.5%$7.4B$7.5B+1.3%
2025-07-31$2.44$2.48+1.6%$6.6B$6.8B+3.2%
2025-05-01$1.67$1.78+6.6%$5.9B$6.2B+6.3%
2025-02-20$2.62$2.94+12.2%$6.6B$6.6B−0.9%
2024-10-31$2.68$2.72+1.5%$6.6B$6.5B−1.0%
2024-08-01$1.89$1.90+0.5%$5.5B$5.6B+1.6%
2024-05-02$1.29$1.41+9.3%$4.9B$5.0B+1.9%
2024-02-22$1.98$2.04+3.0%$5.2B$5.8B+11.7%
2023-11-02$2.11$2.24+6.2%$5.3B$5.6B+6.9%
2023-08-03$1.67$1.65−1.2%$4.7B$5.0B+7.3%
2023-05-04$1.10$1.24+12.7%$4.1B$4.4B+8.5%
2023-02-23$1.61$1.68+4.3%$4.3B$4.4B+3.3%
2022-11-03$1.77$1.770.0%$4.4B$4.5B+1.4%
2022-08-04$1.51$1.54+2.0%$4.0B$4.2B+5.1%
2022-05-05$1.22$1.37+12.3%$3.6B$4.0B+10.8%
2022-02-24$1.41$1.54+9.2%$3.7B$3.9B+7.4%
2021-11-04$1.45$1.48+2.1%$3.4B$3.4B−2.1%
2021-08-05$1.04$1.06+1.9%$3.0B$3.0B−0.0%
2021-05-06$0.73$0.83+13.7%$2.7B$2.7B−1.1%
2021-02-25$0.99$1.22+23.2%$2.9B$2.9B−0.1%
2020-10-29$1.10$1.40+27.3%$2.4B$3.0B+27.3%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.906-151.506-221.006-290.807-060.807-130.707-201.907-270.808-030.808-101.308-171.208-240.808-31
Week ofNotionalSharesTrades
2026-08-31$791.2M1,292,11553,759
2026-08-24$1.2B2,007,11065,640
2026-08-17$1.3B1,851,00966,007
2026-08-10$797.5M1,178,49350,692
2026-08-03$827.1M1,210,83760,220
2026-07-27$1.9B2,969,85399,965

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1529.7%
DateShort shareShort volumeTotal volume
2026-10-1529.7%184,068619,756
2026-10-1439.6%176,992447,020
2026-10-1349.6%221,885447,029
2026-10-1252.8%171,679324,913
2026-10-0962.5%203,193325,161
2026-10-0864.4%252,815392,783
2026-10-0769.2%290,039419,184
2026-10-0663.1%279,568443,088
2026-10-0563.7%237,659373,172
2026-10-0255.7%224,117402,544
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.1Jan+3.3Feb+3.5Mar+2.9Apr+2.1May+2.0Jun+0.5Jul+2.3Aug+2.0Sep+3.6Oct+0.2Nov+3.1Dec
MonthAvg returnUp yearsYears
Jan+0.1%50%20
Feb+3.3%65%20
Mar+3.5%67%21
Apr+2.9%65%20
May+2.1%70%20
Jun+2.0%60%20
Jul+0.5%60%20
Aug+2.3%70%20
Sep+2.0%65%20
Oct+3.6%75%20
Nov+0.2%60%20
Dec+3.1%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1442.3
MFI45.9
ADX18.7
Stochastic %K / %D24.4 / 40.0
Williams %R-82.6
CCI-90
TSI / signal6.3 / 10.8
Chaikin money flow0.19
ATR$26.30
Bollinger width15.7%
Volume vs 20-day avg0.88x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$665.17 (−5.0%)
SMA 50$650.39 (−2.8%)
SMA 200$618.23 (+2.2%)
EMA 21$662.93 (−4.7%)
EMA 50$656.44 (−3.7%)
EMA 200$609.03 (+3.7%)
Bollinger upper$717.51 (−11.9%)
Bollinger lower$612.83 (+3.1%)
Parabolic SAR$711.85 (−11.2%)
Open the live chart, 110+ indicators

About Quanta Services, Inc.

Quanta Services, Inc. is a global provider of specialized contracting solutions. The company operates through three main business segments: The Electric Power Infrastructure Solutions division is dedicated to designing, procuring, constructing, upgrading, repairing, and maintaining critical infrastructure for electric power transmission, distribution networks, and substation facilities. This includes executing projects on live electrical systems for installation, upkeep, and modernization, as well as integrating advanced smart grid technologies. The segment also handles commercial and industrial wiring from design through repair. Furthermore, it furnishes aviation services, vital emergency restoration support, and various other engineering and technical assistance. Quanta Services extends its design and construction expertise to the telecommunications sector, serving wireline and wireless carriers, cable multi-system operators, and other clients. Professional development programs for electric utility personnel, as well as those in gas distribution and telecommunications, are also offered. The Renewable Energy Infrastructure Solutions segment concentrates on the full lifecycle of renewable energy assets. This encompasses engineering, procurement, construction, modernization, repair, and maintenance for facilities generating power from wind, solar, and hydroelectric sources, alongside battery storage systems. Additionally, it delivers engineering and construction for associated substations, switchyards, transmission lines, and other electrical infrastructures integral to renewable projects. The Underground Utility and Infrastructure Solutions division furnishes comprehensive services covering the design, engineering, construction, enhancement, repair, and ongoing maintenance of systems for transporting, distributing, storing, and processing natural gas, oil, and various other commodities. This includes the fabrication of essential pipeline support structures and related facilities. The segment is also responsible for the engineering and construction of extensive pipeline networks, storage facilities, and crucial compressor and pump stations. Originally incorporated in 1997 as Fabal Construction, Inc., the company adopted the name Quanta Services, Inc. in November of that year and maintains its corporate headquarters in Houston, Texas.

https://www.quantaservices.com

Key executives

NameTitlePayBorn
Earl C. Austin Jr.President, Chief Executive Officer & Director$4.6M1970
Karl StuderPresident of Electric Power$2.3M1982
Jayshree S. DesaiChief Financial Officer$2.2M1972
Gerald A. Ducey Jr.President of Strategic Operations$1.8M1976
Donald C. WayneExecutive Vice President & General Counsel$1.5M1967
Kip A. RuppVice President of Investor Relations——
Mary SizemoreSenior Vice President of Human Resources——
Matthew C. Compher CHST CUSP OHSTSenior Vice President of Operational Performance——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Earl C. (Duke) Austin, Jr. President & Chief Executive Officer2025$1.4M$11.1M$2.7M$15.7M
Jayshree Desai Chief Financial Officer2025$861,000$3.2M$1.2M$5.4M
Karl Studer President – Electric Power2025$835,340$2.6M$1.2M$4.9M
Gerald A. (BJ) Ducey, Jr. President – Strategic Operations2025$735,000$1.6M$931,980$3.4M
Donald C. Wayne Executive Vice President and General Counsel2025$623,150$1.2M$750,646$2.7M

Employees

39k201840k201936k202044k202147k202252k202358k202470k2025

Dividends

Ex-dateAmountPaid
2026-10-01$0.112026-10-09
2026-07-01$0.112026-07-13
2026-04-02$0.112026-04-10
2026-01-02$0.112026-01-12
2025-10-01$0.12025-10-10
2025-07-01$0.12025-07-11
2025-04-03$0.12025-04-11
2025-01-02$0.12025-01-13

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage63
Intangibles42
Switching costs47
Network effect70
Efficient scale80
Our component scores (0-100) and overall 57.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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