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Screener / SEC EDGAR /CIK 0001050915 /10-K filed Feb 19, 2026, compared with Feb 20, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
ETNLUVFERGCMIHONPWR
NYSE Industrials · Electrical Contractors

Quanta Services PWR

PWR quote by TradingView
Employees
69,500
Headquarters
Houston, TX
CEO
Earl C. Austin Jr.
Next results
around Feb 18, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $28.5B through the costs to a net profit of $1.0B · income statement of the 10-K

6% operating margin
Revenue to Gross profit: $4.3BRevenue to Cost of revenue: $24.2BGross profit to Operating profit: $1.6BGross profit to Operating expenses: $2.7BOperating profit to Net profit: $1.0BOperating profit to Tax & other: $583.1M Revenue: $28.5B REVENUE $28.5B +20% Y/Y Gross profit: $4.3B · 15% margin GROSS PROFIT $4.3B 15% margin · +22% Y/Y Cost of revenue: $24.2B · 85% of revenue COST OF REVENUE $24.2B 85% of revenue Operating profit: $1.6B · 6% margin OPERATING PROFIT $1.6B 6% margin · +20% Y/Y Operating expenses: $2.7B · 9% of revenue OPERATING EXPENSES $2.7B 9% of revenue Net profit: $1.0B · 4% margin NET PROFIT $1.0B 4% margin · +14% Y/Y Tax & other: $583.1M · 2% of revenue TAX & OTHER $583.1M 2% of revenue
Gross profit $4.3B 15% margin · +22% Y/Y
Operating profit $1.6B 6% margin · +20% Y/Y
Net profit $1.0B 4% margin · +14% Y/Y
The full income statement, year by year

PWR among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: 20.3%, above 94% of 81 peers (their median 4.6%) REVENUE GROWTH 20.3% · above 94% Gross margin: 15.8%, above 2% of 51 peers (their median 38.6%) GROSS MARGIN 15.8% · above 2% Operating margin: 6.8%, above 13% of 71 peers (their median 17.5%) OPERATING MARGIN 6.8% · above 13% Net margin: 4.5%, above 6% of 81 peers (their median 13.0%) NET MARGIN 4.5% · above 6% FCF margin: 8.5%, above 22% of 78 peers (their median 13.3%) FCF MARGIN 8.5% · above 22% Return on capital: 6.9%, above 12% of 65 peers (their median 14.2%) RETURN ON CAPITAL 6.9% · above 12%
PWR Peer median Below the median

What changed

2 new risk paragraphs and 3 accounting facts worth reading about. 10-K filed Feb 19, 2026 against Feb 20, 2025.

Risk factors
2 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +32.4% vs revenue +20.3% (+12.1 pts)
10-K · XBRL
Inventory growing faster than revenue
Inventory +42.4% vs revenue +20.3% (+22.0 pts)
10-K · XBRL
Critical audit matters changed
New this year: Acquisition of Dynamic Systems - Valuation of Customer Relationships (“As described in Note 6 to the consolidated financial statements, on July 25, 2025, the Company completed the acquisition of Dynamic Systems. The acquisition resulted in $ 532.4 million of identifiable intangible assets being recorded, of which $ 355.0 million related to customer relationships. The f”). No longer listed: Acquisition of Cupertino Electric, Inc. - Valuation of Customer Relationships and Trade Name Intangible Assets
10-K · XBRL
Accounting checks
8 other checks clear, 3 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

3facts worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +32.4% vs revenue +20.3% (+12.1 pts)
  • Inventory growing faster than revenue
    Inventory +42.4% vs revenue +20.3% (+22.0 pts)
  • Critical audit matters changed
    New this year: Acquisition of Dynamic Systems - Valuation of Customer Relationships (“As described in Note 6 to the consolidated financial statements, on July 25, 2025, the Company completed the acquisition of Dynamic Systems. The acquisition resulted in $ 532.4 million of identifiable intangible assets being recorded, of which $ 355.0 million related to customer relationships. The f”). No longer listed: Acquisition of Cupertino Electric, Inc. - Valuation of Customer Relationships and Trade Name Intangible Assets
  • Cash from operations $2.2B vs net income $1.0B (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

2 paragraphs in Risk Factors that were not in the 10-K filed Feb 20, 2025. Quoted as filed.

All 2 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    risk management program and processes, including policies, controls and procedures, designed to apply to our operating companies will be fully implemented, complied with or effective in protecting all information systems and operations.
  2. Item 1A · new paragraph · not in the 10-K filed Feb 20, 2025 10-K, ITEM 1A
    performance of our investments or an investment fund in which we participate, or based on the actions or conduct of the entities in which we are invested or our partners in such investments, all of which may be outside of our control. Any such reputational harm could adversely affect our ability to secure certain future projects or…

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$17.1B$20.9B$23.7B$28.5B
Net income$491.2M$744.7M$904.8M$1.0B
Operating cash flow$1.1B$1.6B$2.1B$2.2B
Free cash flow$702.7M$1.1B$1.5B$1.6B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$28.5B ▲ 20.3% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Quanta Services, Houston, TX · from the 10-K filed Feb 19, 2026

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.

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 29, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we had approximately 69,500 employees, consisting of approximately 13,800 salaried employees, including, among others, executive officers, professional and administrative staff, project managers and engineers, job superintendents and field personnel, and approximately 55,700" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 19, 2026 (open at SEC), compared with the 10-K filed Feb 20, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/PWR/export.csv") into a cell.