Quanta Services, Inc. (PWR)

Industrials · Construction & Engineering · US stock · S&P 500 component

$546.43 ▼ -6.01 (1.09%)

At close 23 Oct 2026 · USD · Volume 1,620,674

Compare with FIX

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$499 −9.7% to fair value

$249fair band $424–$605$748

Day's range

$527.07 – $555.54

52-week range

$408.36 – $788.75

About Quanta Services, Inc.

Quanta Services is a specialty contractor that builds and maintains infrastructure for energy and communications. Its crews design and install power transmission and distribution lines, substations, pipelines, wind and solar projects and telecommunications networks, and they restore services after storms. Customers are mainly electric and gas utilities, renewable energy developers, communications companies and pipeline operators. The company is organised in operating groups covering electric power, underground utility and renewable energy work.

Quanta is paid through construction and maintenance contracts, some under long-running master service agreements and others on large projects. Revenue is $32.9 billion over the last twelve months, and revenue growth over three years is 18.6% a year. The operating margin is 6.2%, and the business earns a profit of 10% on the capital invested in it. It carries net debt of 2.8 times EBITDA and offers a dividend yield of 0.1%. On the site's X-Ray Score it receives 45 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $408.36 – $788.75Volume 1,620,674Daily, split-adjusted

Vitals

Market cap$83.3B

52-week range$408.36 – $788.75

Volume (last day)1,620,674

P/E (TTM)61.9

EBIT / EV yield2.3%

Free-cash-flow yield2.8%

Dividend yield0.1%

Revenue (TTM)$32.9B

Net income (TTM)$1.3B

Operating margin6.2%

Return on capital10.3%

Debt incl. leases$6.1B

Cash & securities$506M

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$499middle half of models $455 – $529

Fair −9.7% to fair value

Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $546

Undervalued < $424Fair $424 – $605Overvalued > $605

P/E multiple

$532

P/B multiple

$422

P/S multiple

$425

EV/EBITDA multiple

$481

EV/EBIT multiple

$469

EV/revenue multiple

$451

10-year DCF, EBITDA exit

$519

5-year DCF, EBITDA exit

$595

10-year DCF, revenue exit

$512

5-year DCF, revenue exit

$582

10-year DCF, growth exit · not used

$131

5-year DCF, growth exit · not used

$136

Dividend discount, stable · not used

$25

Dividend discount, multi-stage · not used

$25

Earnings power value · not used

$160

Growth the price implies

34.6%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 31 The price is not above fair value $499 fair value Debt looks manageable 2.8× EBITDA Revenue has been growing 18.6% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

26/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield2.3%

Free-cash-flow yield2.8%

Fair value vs price0.9×

Growth Strong

88/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)18.6%

EPS growth (3y)27.0%

Growth consistency100%

Profitability Weak

46/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital10.3%

Operating margin6.2%

Gross profitability18.0%

Financial health Weak

16/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Net debt / EBITDA2.8×

Interest cover6.9×

Dividends Fair

62/100

Dividend is typical for its sector.

See the numbers →

Dividend yield0.1%

Dividends vs free cash flow3%

Dividend growth13.7%

Quarterly results: last 6 quarters

+23.9%

Mar '25

+21.1%

Jun '25

+17.5%

Sep '25

+19.7%

Dec '25

+26.3%

Mar '26

+41.1%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $9.6B, diluted EPS $2.96.

Compare with peers

EME EMCOR Group, Inc.69 FIX Comfort Systems Usa In...52 J Jacobs Solutions Inc.42

Other Construction & Engineering companies by X-Ray Score.

SWOT analysis: Quanta Services, Inc.

Strengthsinside the company

Revenue has grown 18.6% a year over three years (median 7.1% for industry peers).
Earnings per share have compounded at 27.0% a year over three years.

Weaknessesinside the company

Return on invested capital of 10.3% is well below the 30.1% median of industry peers.
Operating margin of 6.2% is thin against 10.4% for industry peers.

Opportunitiesvaluation and setting

No specific opportunity is visible in our valuation, sector or growth data.

Threatsvaluation and setting

Trades at 62.8x earnings, 100% above the 31.4x median of industry peers, so the price already assumes better results.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare PWR with peers and sector

Medians of 3 Construction & Engineering peers and of 80 Industrials stocks in our universe. Largest peers (X-Ray Score): FIX 52, EME 69, J 42.

Metric	PWR	Peers	Sector
X-Ray Score (out of 100)	45	52	51
Valuation	26	42	48
Growth	88	53	50
Profitability	46	53	51
Financial health	16	70	49
Dividends	62	53	53

Sector leaders: highest X-Ray Score in Industrials

PWR ranks #57 of 81 in Industrials and #3 of 4 in Construction & Engineering by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 GD General Dynamics Corp	70
#2 EME EMCOR Group, Inc.	69
#3 PAYX Paychex Inc	69
#4 LDOS Leidos Holdings, Inc.	67
#5 SNA Snap-on Inc	66
…
#57 PWR Quanta Services, Inc. (this stock)	45

Metric	PWR	Peers	Sector
P/E ratio	62.8x	31.4x	28.5x
PEG ratio	2.33	–	2.38
Price / book	8.7x	7.2x	6.2x
Price / sales	2.6x	1.6x	3.6x
EV / EBITDA	44.2x	26.8x	18.3x
Price / free cash flow	35.2x	25.1x	25.3x
Dividend yield	0.1%	0.2%	1.3%
Gap to our fair value	−9.7%	−5.3%	−8.5%

Metric	PWR	Peers	Sector
Price change, 1 month	−14.0%	−12.7%	+2.5%
Price change, 3 months	−14.1%	−12.5%	−2.3%
Price change, 6 months	−10.0%	−23.1%	−1.2%
Price change, 1 year	+34.1%	−0.2%	+11.3%

Metric	PWR	Peers	Sector
Market value	$84.2B	$29.4B	$47.5B
Revenue (last 12 months)	$32.9B	$14.2B	$14.7B
EBITDA (last 12 months)	$2.0B	$744M	$2.5B
Net income (last 12 months)	$1.3B	$1.4B	$1.5B
Free cash flow (last 12 months)	$2.4B	$1.2B	$1.7B

Metric	PWR	Peers	Sector
Revenue growth, last year	+20.3%	+4.6%	+4.5%
Revenue growth, 3 years a year	+18.6%	+7.1%	+5.6%
EPS growth, 3 years a year	+27.0%	+51.5%	+5.6%
Free cash flow growth, 3 years a year	+32.1%	+38.4%	+14.4%
Dividend growth	+13.7%	+18.3%	+6.8%

Metric	PWR	Peers	Sector
Gross margin	15.5%	22.1%	38.1%
EBITDA margin	6.2%	10.4%	20.4%
Operating margin	6.2%	10.4%	17.5%
Net margin	4.1%	7.7%	12.8%
Return on invested capital	10.3%	30.1%	15.0%
Return on equity	13.9%	35.3%	23.8%

Metric	PWR	Peers	Sector
Net debt / EBITDA	2.8x	–	1.8x
Interest cover	6.9x	50.0x	21.8x
Current ratio	1.1x	1.3x	1.3x
Piotroski F-score (0 to 9)	4	7	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for PWR

Each factor is rated by where PWR stands among the 81 Industrials stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 7 Good · 1 Average · 15 Bad of 23 Growth: 3 · 0 · 0 Profitability: 0 · 0 · 5 Financial strength: 0 · 0 · 4 Valuation: 0 · 1 · 4 Cash flow: 3 · 0 · 1 Efficiency: 1 · 0 · 1

Factor	PWR	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+18.6%	Good beats 94%	+5.6%	–	–
Revenue growth, last year	+20.3%	Good beats 94%	+4.5%	+20.3%	≈ In line
EPS growth, 3 years a year	+27.0%	Good beats 86%	+5.7%	–	–
Profitability
Gross margin	15.5%	Bad beats 5%	38.0%	14.8%	≈ In line
Operating margin	6.2%	Bad beats 10%	17.5%	5.4%	≈ In line
Net margin	4.1%	Bad beats 10%	12.8%	3.7%	≈ In line
Return on invested capital	10.3%	Bad beats 23%	14.9%	–	–
Return on equity	13.9%	Bad beats 27%	23.7%	11.7%	▲ Better
Financial strength
Net debt / EBITDA	2.8x	Bad beats 19%	1.8x	3.4x	▲ Better
Interest cover	6.9x	Bad beats 21%	21.4x	6.6x	≈ In line
Current ratio	1.10	Bad beats 31%	1.25	1.47	▼ Worse
Piotroski F-score	4 / 9	Bad beats 3%	6 / 9	–	–
Valuation
P/E ratio	62.8x	Bad beats 6%	28.9x	42.8x	▼ Worse
Price / book	8.7x	Bad beats 32%	6.2x	5.1x	▼ Worse
Price / sales	2.6x	Average beats 62%	3.5x	1.5x	▼ Worse
EV / EBITDA	44.2x	Bad beats 6%	18.5x	31.1x	▼ Worse
Free cash flow yield	2.8%	Bad beats 18%	3.8%	3.1%	≈ In line
Cash flow
Free cash flow margin	7.3%	Bad beats 17%	13.8%	5.5%	▲ Better
Cash from operations / net income	2.37	Good beats 92%	1.39	2.14	▲ Better
Free cash flow growth, 3 years a year	+32.1%	Good beats 84%	+14.5%	–	–
Accruals (lower is better)	−6.5%	Good beats 87%	−3.2%	–	–
Efficiency
Inventory turnover	59.2x	Good beats 92%	4.0x	102.2x	▼ Worse
Days sales outstanding	95 days	Bad beats 9%	57 days	80 days	▼ Worse

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 5 Good · ● 1 Average · ● 10 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldBad

Risk models

Altman Z''Bad

Piotroski F-ScoreBad

Growth

EPS growth (3y)Good

Free-cash-flow growth (3y)Good

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioBad

Net debt / EBITDABad

Interest coverBad

Valuation

Fair value vs priceAverage

EBIT / EV yieldBad

Profitability

Return on invested capitalBad

Operating marginBad

Gross profitabilityBad

Each check is graded against the company's sector, not a fixed number. Checklist score 41/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$13.0B	$17.1B	$20.9B	$23.7B	$28.5B
Operating income	$664M	$872M	$1.1B	$1.3B	$1.6B
Net income	$492M	$512M	$751M	$927M	$1.0B
Operating cash flow	$582M	$1.1B	$1.6B	$2.1B	$2.2B
Operating margin	5.1%	5.1%	5.4%	5.7%	5.7%
Free cash flow	$197M	$703M	$1.1B	$1.5B	$1.6B
Diluted EPS	$3.34	$3.32	$5.00	$6.03	$6.80

Fiscal years, from SEC filings.

Technical summary

Daily

Bearish

4 bullish · 0 neutral · 12 bearish

Weekly

Bearish

4 bullish · 1 neutral · 7 bearish

Monthly

Bullish

5 bullish · 1 neutral · 2 bearish

Moving averages (daily)

SMA 10	623.3	Bearish
EMA 10	608.6	Bearish
SMA 20	650.3	Bearish
EMA 20	630.2	Bearish
SMA 50	641.5	Bearish
EMA 50	642.8	Bearish
SMA 100	657.4	Bearish
EMA 100	642.6	Bearish
SMA 200	621.8	Bearish
EMA 200	607.6	Bearish

Oscillators (daily)

RSI (14)	28.29	Bullish
MACD (12, 26)	-19.42	Bearish
Momentum (12)	-22.06	Bearish
Stochastic %K (14)	9.92	Bullish
Williams %R (14)	-90.08	Bullish
CCI (20)	-199.9	Bullish

Pivot points (classic, last session)

502.0

514.5

530.5

Pivot

543.0

559.0

571.5

587.4

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

0.44 USD

Yield on today's price

0.08%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
1 Oct 2026	0.1100
1 Jul 2026	0.1100
2 Apr 2026	0.1100
2 Jan 2026	0.1100
1 Oct 2025	0.1000
1 Jul 2025	0.1000
3 Apr 2025	0.1000
2 Jan 2025	0.1000
1 Oct 2024	0.0900
1 Jul 2024	0.0900
8 Apr 2024	0.0900
29 Dec 2023	0.0900

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold PWR

ETF	Share of the fund
GRID First Trust NASDAQ Clean Edge Smart Gr...	8.10%
AIPO Defiance AI & Power Infrastructure	7.91%
ULTY YieldMax Ultra Option Income Strategy	4.68%
PAVE Global X U.S. Infrastructure Developme...	4.18%
IFRA iShares U.S. Infrastructure	3.77%
VOT Vanguard Mid-Cap Growth	2.38%
GRNY Fundstrat Granny Shots US Large Cap	2.13%
XLI Industrial Select Sector SPDR	1.88%

The eight funds with the largest weight in PWR among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.