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PWRQuanta Services

Industrials · Electrical Contractors · NYSE
PWR quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 20.3%, free cash flow up to $1.6B

XBRL, from each 10-K
RevenueStatements ↓
$28.5B
from $23.7B in FY2024
FY2016FY2025
Net incomeStatements ↓
$1.0B
from $904.8M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$1.6B
from $1.5B in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$6.80
from $6.03 in FY2024
FY2016FY2025
Operating marginStatements ↓
5.7%
from 5.7% in FY2024
FY2016FY2025
Total debtStatements ↓
$6.0B
from $4.2B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (42, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)11.05Sales (ttm)37.3BNet income (ttm)1.7BSales growth+20.3%EPS growth+12.8%Sales Q/Q+57.4%
Free cash flow3.2BGross margin15.8%Oper. margin6.8%Net margin4.5%FCF margin8.5%ROE16.0%
ROA5.1%R&D / sales-Dividend0.41Debt/Eq0.66Curr. ratio1.16Cash2.3B
Op. cash flow (ttm)4.1BEBITDA2.0BEBITDA margin7.1%Net debt4.7BQuick ratio1.14Interest cover6.16
ROIC6.9%Payout ratio6.0%Tax rate25.0%Stock pay / sales0.6%Shares out.150.7MShares Y/Y+0.8%
Book / share69.92Cash / share15.37Sales / share247.47Asset turnover1.14Inventory turns65.35Days sales out.88
Sales 3Y CAGR+18.6%Sales 5Y CAGR+20.5%EPS 3Y CAGR+27.0%EPS 5Y CAGR+17.2%Employees69,500Sales / employee537K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt rose 44%$4.2B → $6.0B · Short-term + long-term debt at year end
  • Revenue growth sped up to +20.3%+13.4% → +20.3% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

PWR against Industrials peers

Ten years, side by side → · All 83 →
GrowthProfitBalanceCleanInsiders
PWRPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 83 companies, the better end on the right. Hover a dot for the company.

Sales growth
+20.3%6th of 82 · median +4.8%
Net margin
4.5%77th of 82 · median 13.0%
Return on equity
16.0%54th of 77 · median 24.9%
Free cash flow margin
8.5%62nd of 79 · median 13.0%
Debt / equity (less is better)
0.6634th of 72 · median 0.72
PWR and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
PWR Quanta Services$37.3B +20.3%15.8%4.5%16.0%8.5%0.66
HON Honeywell Technologies$37.7B +7.8%37.2%18.7%31.5%2.6%0.74
CMI Cummins$35.8B -1.3%25.9%9.3%24.9%9.7%0.54
FERG Ferguson Enterprises$32.2B +3.8%30.6%6.0%28.8%3.4%0.93
ETN Eaton Corporation$32.0B +10.3%35.0%12.2%18.6%11.9%0.96
LUV Southwest Airlines$31.5B +2.1%-3.3%14.4%-1.4%0.80
Where each dollar goes

From $13.0B of sales to $486.0M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $2.0BRevenue to Cost of revenue: $11.0BGross profit to Operating profit: $663.5MGross profit to Operating expenses: $1.3BOperating profit to Net profit: $486.0MOperating profit to Tax & other: $177.6M Revenue: $13.0B Revenue$13.0B +16% Y/Y Gross profit: $2.0B · 15% margin Gross profit$2.0B15% margin +18% Y/Y Cost of revenue: $11.0B · 85% of revenue Cost of revenue$11.0B85% of revenue Operating profit: $663.5M · 5% margin Operating profit$663.5M5% margin +9% Y/Y Operating expenses: $1.3B · 10% of revenue Operating expenses$1.3B10% of revenue Net profit: $486.0M · 4% margin Net profit$486.0M4% margin +9% Y/Y Tax & other: $177.6M · 1% of revenue Tax & other$177.6M1% of revenue

Swipe sideways for the whole flow →

From $17.1B of sales to $491.2M of profit

FY2022, from the 10-K income statement and revenue by segment
Underground and Infrastructure Segment to Revenue: $4.4BElectric Power Segment to Revenue: $8.9BRenewable Energy Segment to Revenue: $3.8BRevenue to Gross profit: $2.5BRevenue to Cost of revenue: $14.5BGross profit to Operating profit: $872.1MGross profit to Operating expenses: $1.7BOperating profit to Net profit: $491.2MOperating profit to Tax & other: $380.9M Underground and Infrastructure Segment: $4.4B · 26% Underground and Infrast…$4.4B26% Electric Power Segment: $8.9B · 52% Electric Power Segment$8.9B52% Renewable Energy Segment: $3.8B · 22% Renewable Energy Segment$3.8B22% Revenue: $17.1B Revenue$17.1B +32% Y/Y Gross profit: $2.5B · 15% margin Gross profit$2.5B15% margin +29% Y/Y Cost of revenue: $14.5B · 85% of revenue Cost of revenue$14.5B85% of revenue Operating profit: $872.1M · 5% margin Operating profit$872.1M5% margin +31% Y/Y Operating expenses: $1.7B · 10% of revenue Operating expenses$1.7B10% of revenue Net profit: $491.2M · 3% margin Net profit$491.2M3% margin +1% Y/Y Tax & other: $380.9M · 2% of revenue Tax & other$380.9M2% of revenue

Swipe sideways for the whole flow →

From $20.9B of sales to $744.7M of profit

FY2023, from the 10-K income statement and revenue by segment
Underground and Infrastructure Segment to Revenue: $5.0BElectric Power Segment to Revenue: $9.7BRenewable Energy Segment to Revenue: $6.2BRevenue to Gross profit: $2.9BRevenue to Cost of revenue: $17.9BGross profit to Operating profit: $1.1BGross profit to Operating expenses: $1.8BOperating profit to Net profit: $744.7MOperating profit to Tax & other: $383.3M Underground and Infrastructure Segment: $5.0B · 24% Underground and Infrast…$5.0B24% Electric Power Segment: $9.7B · 46% Electric Power Segment$9.7B46% Renewable Energy Segment: $6.2B · 30% Renewable Energy Segment$6.2B30% Revenue: $20.9B Revenue$20.9B +22% Y/Y Gross profit: $2.9B · 14% margin Gross profit$2.9B14% margin +16% Y/Y Cost of revenue: $17.9B · 86% of revenue Cost of revenue$17.9B86% of revenue Operating profit: $1.1B · 5% margin Operating profit$1.1B5% margin +29% Y/Y Operating expenses: $1.8B · 9% of revenue Operating expenses$1.8B9% of revenue Net profit: $744.7M · 4% margin Net profit$744.7M4% margin +52% Y/Y Tax & other: $383.3M · 2% of revenue Tax & other$383.3M2% of revenue

Swipe sideways for the whole flow →

From $23.7B of sales to $904.8M of profit

FY2024, from the 10-K income statement and revenue by segment
Underground and Infrastructure Segment to Revenue: $4.7BElectric Power Segment to Revenue: $11.2BRenewable Energy Segment to Revenue: $7.8BRevenue to Gross profit: $3.5BRevenue to Cost of revenue: $20.2BGross profit to Operating profit: $1.3BGross profit to Operating expenses: $2.2BOperating profit to Net profit: $904.8MOperating profit to Tax & other: $441.6M Underground and Infrastructure Segment: $4.7B · 20% Underground and Infrast…$4.7B20% Electric Power Segment: $11.2B · 47% Electric Power Segment$11.2B47% Renewable Energy Segment: $7.8B · 33% Renewable Energy Segment$7.8B33% Revenue: $23.7B Revenue$23.7B +13% Y/Y Gross profit: $3.5B · 15% margin Gross profit$3.5B15% margin +20% Y/Y Cost of revenue: $20.2B · 85% of revenue Cost of revenue$20.2B85% of revenue Operating profit: $1.3B · 6% margin Operating profit$1.3B6% margin +19% Y/Y Operating expenses: $2.2B · 9% of revenue Operating expenses$2.2B9% of revenue Net profit: $904.8M · 4% margin Net profit$904.8M4% margin +22% Y/Y Tax & other: $441.6M · 2% of revenue Tax & other$441.6M2% of revenue

Swipe sideways for the whole flow →

From $28.5B of sales to $1.0B of profit

FY2025, from the 10-K income statement and revenue by segment
Electric Segment to Revenue: $23.0BUnderground and Infrastructure Segment to Revenue: $5.5BRevenue 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 Electric Segment: $23.0B · 81% Electric Segment$23.0B81% Underground and Infrastructure Segment: $5.5B · 19% Underground and Infrast…$5.5B19% Revenue: $28.5B Revenue$28.5B +20% Y/Y Gross profit: $4.3B · 15% margin Gross profit$4.3B15% margin +22% Y/Y Cost of revenue: $24.2B · 85% of revenue Cost of revenue$24.2B85% of revenue Operating profit: $1.6B · 6% margin Operating profit$1.6B6% margin +20% Y/Y Operating expenses: $2.7B · 9% of revenue Operating expenses$2.7B9% of revenue Net profit: $1.0B · 4% margin Net profit$1.0B4% margin +14% Y/Y Tax & other: $583.1M · 2% of revenue Tax & other$583.1M2% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4
  • !
    Net margin below the peer median4.5% vs 13.0%
  • ✓
    Gross margin up over 5 years14.8% → 15.0%
  • ✓
    Return on equity above 15%16.0%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 2.6% → 3.6%

Balance sheet

4 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 6.2× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.66 on the latest balance sheet (peer median 0.72)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.16
  • ✓
    Net debt under 3 years of free cash flow$4.7B net debt, 1.5 years
Debt / equity at each year end, FY2016 to FY2025: 0.11 → 0.67
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 10 years$1.6B last year
  • !
    Share count up over 5 years+4.2%
  • ✓
    Dividend per share up over 5 years$0.21 → $0.41
  • ✓
    Cash from operations above net income$2.2B vs $1.0B
Free cash flow, FY2016 to FY2025: 178.2M → 1.6B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$3.1B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 28.5B Net income 1.0B
FY2016 revenue 7.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-19-000014 FY2016 net income 198.4M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001050915-19-000014 7.7B FY2016 FY2017 revenue 9.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-20-000020 FY2017 net income 315.0M · NetIncomeLoss, 0001050915-20-000020 9.5B FY2017 FY2018 revenue 11.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-21-000009 FY2018 net income 293.3M · NetIncomeLoss, 0001050915-21-000009 11.2B FY2018 FY2019 revenue 12.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-22-000008 FY2019 net income 402.0M · NetIncomeLoss, 0001050915-22-000008 12.1B FY2019 FY2020 revenue 11.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-23-000010 FY2020 net income 445.6M · NetIncomeLoss, 0001050915-23-000010 11.2B FY2020 FY2021 revenue 13.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-24-000009 FY2021 net income 486.0M · NetIncomeLoss, 0001050915-24-000009 13.0B FY2021 FY2022 revenue 17.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-25-000005 FY2022 net income 491.2M · NetIncomeLoss, 0001050915-25-000005 17.1B FY2022 FY2023 revenue 20.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-26-000006 FY2023 net income 744.7M · NetIncomeLoss, 0001050915-26-000006 20.9B FY2023 FY2024 revenue 23.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-26-000006 FY2024 net income 904.8M · NetIncomeLoss, 0001050915-26-000006 23.7B FY2024 FY2025 revenue 28.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001050915-26-000006 FY2025 net income 1.0B · NetIncomeLoss, 0001050915-26-000006 28.5B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

PWR's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue28.5B
FY2016: 7.7BFY2017: 9.5BFY2018: 11.2BFY2019: 12.1BFY2020: 11.2BFY2021: 13.0BFY2022: 17.1BFY2023: 20.9BFY2024: 23.7BFY2025: 28.5B FY2017FY2019FY2021FY2023FY2025
Net income1.0B
FY2016: 198.4MFY2017: 315.0MFY2018: 293.3MFY2019: 402.0MFY2020: 445.6MFY2021: 486.0MFY2022: 491.2MFY2023: 744.7MFY2024: 904.8MFY2025: 1.0B FY2017FY2019FY2021FY2023FY2025
Free cash flow1.6B
FY2016: 178.2MFY2017: 127.2MFY2018: 65.2MFY2019: 264.8MFY2020: 855.9MFY2021: 196.5MFY2022: 702.7MFY2023: 1.1BFY2024: 1.5BFY2025: 1.6B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)6.80
FY2016: 1.26FY2017: 2.00FY2018: 1.90FY2019: 2.73FY2020: 3.07FY2021: 3.34FY2022: 3.32FY2023: 5.00FY2024: 6.03FY2025: 6.80 FY2017FY2019FY2021FY2023FY2025
Dividend per share0.41
FY2016: -FY2017: 0.00FY2018: 0.04FY2019: 0.17FY2020: 0.21FY2021: 0.25FY2022: 0.29FY2023: 0.33FY2024: 0.37FY2025: 0.41 FY2017FY2019FY2021FY2023FY2025
Diluted shares151.3M
FY2016: 157.3MFY2017: 157.2MFY2018: 154.2MFY2019: 147.5MFY2020: 145.2MFY2021: 145.4MFY2022: 148.0MFY2023: 148.8MFY2024: 150.1MFY2025: 151.3M FY2017FY2019FY2021FY2023FY2025

The segments changed

10-K filed 2026-02-19

Compared with the 10-K of Feb 20, 2025: new segment Electric Segment; no longer reported: Electric Power Segment, Renewable Energy Segment.

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Electric Segment 23.0B80.8% +21.0%
Underground and Infrastructure Segment 5.5B19.2% +17.5%

10-K 0001050915-26-000006, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
United States 26.5B93.0% +22.6%
Canada 1.0B3.6% -0.6%
Australia 779.5M2.7% +16.9%
Others 198.4M0.7% -46.9%

10-K 0001050915-26-000006, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue7.7B9.5B11.2B12.1B11.2B13.0B17.1B20.9B23.7B28.5B
Cost of revenue6.6B8.2B9.7B10.5B9.5B11.0B14.5B17.9B20.2B24.2B
Gross profit1.0B1.2B1.5B1.6B1.7B2.0B2.5B2.9B3.5B4.3B
SG&A653.3M777.9M857.6M956.0M975.1M1.2B1.3B1.6B1.8B2.2B
Operating income320.8M378.8M540.3M554.9M611.4M663.5M872.1M1.1B1.3B1.6B
Interest expense14.9M20.9M36.9M66.9M45.0M68.9M124.4M186.9M202.7M261.4M
Pretax income307.7M353.8M457.7M572.3M571.3M622.9M703.9M970.0M1.2B1.4B
Income tax107.2M35.5M161.7M165.5M119.4M130.9M192.2M219.3M284.7M347.6M
Net income198.4M315.0M293.3M402.0M445.6M486.0M491.2M744.7M904.8M1.0B
EPS (diluted)1.262.001.902.733.073.343.325.006.036.80
Diluted shares157.3M157.2M154.2M147.5M145.2M145.4M148.0M148.8M150.1M151.3M
Depreciation & amortization170.2M183.8M202.5M218.1M225.3M255.5M290.6M324.8M359.4M411.5M
EBITDA491.1M562.7M742.8M773.0M836.6M919.0M1.2B1.5B1.7B2.0B
Gross margin13.3%13.1%13.2%13.2%14.8%15.0%14.8%14.1%14.8%15.0%
Operating margin4.2%4.0%4.8%4.6%5.5%5.1%5.1%5.4%5.7%5.7%
Net margin2.6%3.3%2.6%3.3%4.0%3.7%2.9%3.6%3.8%3.6%
Revenue growth-+23.7%+18.0%+8.4%-7.5%+15.9%+31.5%+22.3%+13.4%+20.3%
EPS growth-+58.7%-5.0%+43.7%+12.5%+8.8%-0.6%+50.6%+20.6%+12.8%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash112.2M138.3M78.7M164.8M184.6M229.1M428.5M1.3B742.0M439.5M
Receivables1.5B2.0B2.4B2.7B2.7B3.4B3.7B4.4B5.2B6.8B
Inventory88.5M80.9M107.7M55.7M50.5M84.7M103.3M175.7M260.2M370.4M
Current assets2.3B2.9B3.3B3.8B3.6B4.7B5.5B7.7B7.9B9.9B
Property & equipment1.2B1.3B1.3B-------
Goodwill1.6B1.9B1.9B2.0B2.1B3.5B3.6B4.0B5.3B7.3B
Total assets5.4B6.5B7.1B8.3B8.4B12.9B13.5B16.2B18.7B24.9B
Current liabilities1.2B1.5B1.8B2.3B2.1B3.2B3.4B5.2B6.0B8.7B
Total debt361.1M671.9M1.1B1.4B1.2B3.8B3.7B4.2B4.2B6.0B
Total liabilities2.0B2.7B3.5B4.3B4.0B7.7B8.1B10.0B11.4B15.9B
Shareholders' equity3.3B3.8B3.6B4.1B4.3B5.1B5.4B6.3B7.3B8.9B
Retained earnings1.9B2.2B2.5B2.9B3.3B3.7B4.2B4.9B5.7B6.7B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow390.7M371.9M358.8M526.6M1.1B582.4M1.1B1.6B2.1B2.2B
Capital spending212.6M244.7M293.6M261.8M260.1M385.9M427.6M434.8M604.1M609.2M
Free cash flow178.2M127.2M65.2M264.8M855.9M196.5M702.7M1.1B1.5B1.6B
Stock-based pay (added back)42.8M46.4M52.5M52.0M91.6M88.3M105.6M126.8M150.5M181.9M
Dividends paid-0023.2M28.9M34.0M41.1M47.8M54.2M60.4M
Buybacks050.0M443.2M20.1M247.2M66.7M127.8M350K0134.6M
Acquisitions68.8M361.2M94.9M388.0M292.6M2.5B195.1M651.6M1.7B3.1B
Debt raised--00990.1M1.5B00--
Debt repaid------00500.0M0
Investing cash flow-264.4M-572.1M-402.7M-617.6M-499.3M-2.9B-617.2M-989.6M-2.3B-3.8B
Financing cash flow-133.8M227.8M-16.6M177.7M-601.4M2.4B-311.1M268.5M-305.6M1.3B
Dividend per share-0.000.040.170.210.250.290.330.370.41

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)42.8M46.4M52.5M52.0M91.6M88.3M105.6M126.8M150.5M181.9M
Stock-based pay / revenue0.6%0.5%0.5%0.4%0.8%0.7%0.6%0.6%0.6%0.6%
Operating lease cost---121.8M116.7M104.7M93.5M93.1M108.9M129.6M
Operating lease cash paid---119.4M115.6M104.4M95.2M95.9M110.7M128.4M
Finance lease principal paid---1.8M1.2M1.0M1.5M2.5M10.6M11.9M
Right-of-use assets--301.1M284.4M256.8M240.6M229.7M249.4M299.9M400.8M
Operating lease liabilities--301.1M289.0M264.0M248.7M245.6M265.0M316.5M424.0M
Finance lease liabilities---957K2.2M2.5M3.5M39.6M48.0M93.1M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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