PWR Industrials

Quanta Services, Inc.

$657.00+5.77%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 98.8B USD
Enterprise value: 100.6B USD
Full-time employees: 69,500

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.20 vs a peer median of 0.64) and less short-term liquidity (current ratio 1.10 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.20 vs peers 0.64) and less liquidity (current ratio 1.10 vs peers 1.62)
About average: profitability

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $459M vs $135M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Quanta Services recorded $459M of stock-based pay expense and spent $135M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Quanta Services recorded $459M of stock-based pay expense and spent $135M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $11.2B in 2020 to $28.5B in 2025.
Quanta Services's fiscal-year revenue rose in each of the five years to 2025, from $11.2B to $28.5B.
Profit is backed by cash. Free cash flow is 178% of reported profit.
Quanta Services's free cash flow is 178% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Fast revenue growth. Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 90% of peers.
Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 90% of its peers.

StockQuotient Score

47/ 100▼ 1 since Oct 27 close

Oct 5 48 → Nov 4 47 (-1)

Valuation

Is the price right?

25/100

Weak▼ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 27 → 25

Share price +13.5%-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.4%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.82Sector median: 0.0377 · MAD: 0.0294

EBITDA yield2.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.94Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield2.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.35Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield9.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 9.2%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth33.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.07Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth21.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.76Sector median: 0.0421 · MAD: 0.0625

Revenue growth26.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.86Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

54/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 55 → 54

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin6.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.30Sector median: 0.0773 · MAD: 0.0507

Return on assets4.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.68Sector median: 0.0311 · MAD: 0.0241

Return on invested capital10.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.61Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin15.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity13.9%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.20

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.03Sector median: 0.6440 · MAD: 0.2745

Current ratio1.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.97Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.63×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.69Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Quanta Services

Is Quanta Services getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 47/100, down 1 since Oct 28, 2026.
How is Quanta Services valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 2,459 industrials peers. EBITDA yield 2.9% vs a peer median of 6.9% (weaker than 76% of peers).EBITDA yield 2.9% vs peers 6.9% (weaker than 76% of peers).
Is Quanta Services growing?: Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. 3-year revenue growth 21.5% vs a peer median of 4.2% (stronger than 92% of peers).3-year revenue growth 21.5% vs peers 4.2% (stronger than 92% of peers).
How profitable is Quanta Services?: About as profitable as its peers. Profitability scores 54/100 against 2,459 industrials peers. Return on assets 4.7% vs a peer median of 3.1% (stronger than 67% of peers).Return on assets 4.7% vs peers 3.1% (stronger than 67% of peers).
How risky is Quanta Services?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.20 vs a peer median of 0.64 (weaker than 84% of peers).Beta 1.20 vs peers 0.64 (weaker than 84% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	30.1B USD	32.9B USD	+9.2%
Net income (12 months)	1.1B USD	1.3B USD	+19.9%
Operating margin	5.7%	6.2%	+0.5 pts
Free cash flow (12 months)	1.7B USD	2.4B USD	+42.2%
Debt	5.9B USD	6.1B USD	+3.6%
Cash	364.8M USD	506.4M USD	+38.8%
Shares outstanding	150.1M	150.3M	+0.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	15.0%	14.8%	14.1%	14.8%	15.0%	▲ 0.2 pts
Operating margin	5.1%	5.1%	5.4%	5.7%	5.7%	▼ 0.0 pts
Net margin	3.7%	2.9%	3.6%	3.8%	3.6%	▼ 0.2 pts
Return on assets (ROA)	3.8%	3.6%	4.6%	4.8%	4.1%	▼ 0.7 pts
Return on equity (ROE)	9.5%	9.1%	11.9%	12.4%	11.5%	▼ 0.9 pts
Free cash flow margin	1.5%	4.1%	5.5%	6.2%	5.7%	▼ 0.5 pts
Current ratio	1.50×	1.63×	1.47×	1.30×	1.14×	▼ 13%
Quick ratio	1.47×	1.59×	1.44×	1.26×	1.09×	▼ 13%
Debt to equity	0.73×	0.69×	0.67×	0.57×	0.67×	▲ 18%
Interest coverage	9.63×	7.01×	6.03×	6.64×	6.16×	▼ 7.2%

PWR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.20 vs a peer median of 0.64) and less short-term liquidity (current ratio 1.10 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.20 vs peers 0.64) and less liquidity (current ratio 1.10 vs peers 1.62)

About average: profitability

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $459M vs $135M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Quanta Services recorded $459M of stock-based pay expense and spent $135M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Quanta Services recorded $459M of stock-based pay expense and spent $135M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $11.2B in 2020 to $28.5B in 2025.

Quanta Services's fiscal-year revenue rose in each of the five years to 2025, from $11.2B to $28.5B.

Profit is backed by cash. Free cash flow is 178% of reported profit.

Quanta Services's free cash flow is 178% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Fast revenue growth. Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 90% of peers.

Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 90% of its peers.

Questions investors ask about Quanta Services

Is Quanta Services getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 47/100, down 1 since Oct 28, 2026.

How is Quanta Services valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 2,459 industrials peers. EBITDA yield 2.9% vs a peer median of 6.9% (weaker than 76% of peers).EBITDA yield 2.9% vs peers 6.9% (weaker than 76% of peers).

Is Quanta Services growing?

Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. 3-year revenue growth 21.5% vs a peer median of 4.2% (stronger than 92% of peers).3-year revenue growth 21.5% vs peers 4.2% (stronger than 92% of peers).

How profitable is Quanta Services?

About as profitable as its peers. Profitability scores 54/100 against 2,459 industrials peers. Return on assets 4.7% vs a peer median of 3.1% (stronger than 67% of peers).Return on assets 4.7% vs peers 3.1% (stronger than 67% of peers).

How risky is Quanta Services?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.20 vs a peer median of 0.64 (weaker than 84% of peers).Beta 1.20 vs peers 0.64 (weaker than 84% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

30.1B USD

32.9B USD

+9.2%

Net income (12 months)

1.1B USD

1.3B USD

+19.9%

Operating margin

5.7%

6.2%

+0.5 pts

Free cash flow (12 months)

1.7B USD

2.4B USD

+42.2%

Debt

5.9B USD

6.1B USD

+3.6%

Cash

364.8M USD

506.4M USD

+38.8%

Shares outstanding

150.1M

150.3M

+0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

15.0%

14.8%

14.1%

14.8%

15.0%

▲ 0.2 pts

Operating margin

5.1%

5.4%

5.7%

▼ 0.0 pts

Net margin

3.7%

2.9%

3.6%

3.8%

3.6%

▼ 0.2 pts

Return on assets (ROA)

3.8%

3.6%

4.6%

4.8%

4.1%

▼ 0.7 pts

Return on equity (ROE)

9.5%

9.1%

11.9%

12.4%

11.5%

▼ 0.9 pts

Free cash flow margin

1.5%

4.1%

5.5%

6.2%

5.7%

▼ 0.5 pts

Current ratio

1.50×

1.63×

1.47×

1.30×

1.14×

▼ 13%

Quick ratio

1.47×

1.59×

1.44×

1.26×

1.09×

▼ 13%

Debt to equity

0.73×

0.69×

0.67×

0.57×

0.67×

▲ 18%

Interest coverage

9.63×

7.01×

6.03×

6.64×

6.16×

▼ 7.2%