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Primoris Services (PRIM) Financials

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$141.90 +5.78 (+4.24%)
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Annual Income Statements for Primoris Services

Annual Income Statements for Primoris Services

This table shows Primoris Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 37 27 72 77 82 105 116 133 126 181
Consolidated Net Income / (Loss)		 37 28 77 88 84 105 116 133 126 181
Net Income / (Loss) Continuing Operations		 37 28 77 88 84 105 116 133 126 181
Total Pre-Tax Income 		61 49 105 113 118 146 152 159 178 255
Total Operating Income		 68 58 106 130 141 164 170 195 253 317
Total Gross Profit		 220 201 278 326 331 370 417 457 587 703
Total Revenue		 1,929 1,997 2,380 2,939 3,106 3,491 3,498 4,421 5,715 6,367
Operating Revenue		 1,929 1,997 2,380 2,939 3,106 3,491 3,498 4,421 5,715 6,367
Total Cost of Revenue		 1,710 1,796 2,102 2,614 2,775 3,121 3,081 3,964 5,128 5,664
Operating Cost of Revenue		 1,710 1,796 2,102 2,614 2,775 3,121 3,081 3,964 5,128 5,664
Total Operating Expenses		 152 144 172 195 190 206 247 262 334 386
Selling, General & Admin Expense		 152 140 170 182 189 203 230 282 329 383
Other Operating Expenses / (Income)		 - - - - - - - -40 0.00 0.00
Restructuring Charge		 - 0.82 1.77 13 0.92 3.43 16 20 5.69 2.44
Total Other Income / (Expense), net		 -6.67 -8.88 -1.01 -17 -23 -18 -18 -36 -75 -63
Interest & Investment Income		 0.06 0.15 6.40 1.75 -19 -20 -18 -39 -78 -65
Other Income / (Expense), net		 0.96 -0.11 0.74 -0.12 -3.82 1.61 0.20 3.16 2.77 2.78
Income Tax Expense		 24 21 28 26 34 41 36 26 52 74
Basic Earnings per Share		 $0.71 $0.52 $1.41 $1.51 $1.62 $2.17 $2.19 $2.50 $2.37 $3.37
Weighted Average Basic Shares Outstanding		 51.65M 51.76M 51.48M 51.35M 50.78M 48.30M 52.67M 53.20M 53.30M 53.64M
Diluted Earnings per Share		 $0.71 $0.51 $1.40 $1.50 $1.61 $2.16 $2.17 $2.47 $2.33 $3.31
Weighted Average Diluted Shares Outstanding		 51.80M 51.99M 51.74M 51.67M 51.08M 48.63M 53.16M 53.76M 54.22M 54.58M
Weighted Average Basic & Diluted Shares Outstanding		 51.90M 51.40M 51.30M 50.72M 48.67M 49.15M 53.22M 53.14M 53.44M 53.75M
Cash Dividends to Common per Share		 $0.21 $0.22 $0.23 $0.24 $0.24 $0.24 $0.24 $0.24 $0.24 $0.26

Quarterly Income Statements for Primoris Services

This table shows Primoris Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 43 42 1.31 39 48 38 19 50 58 54 44
Consolidated Net Income / (Loss)		 43 42 1.31 39 48 38 19 50 58 54 44
Net Income / (Loss) Continuing Operations		 43 42 1.31 39 48 38 19 50 58 54 44
Total Pre-Tax Income 		53 45 1.82 55 68 53 27 70 82 76 62
Total Operating Income		 66 61 19 71 88 75 44 86 100 88 70
Total Gross Profit		 155 153 100 157 174 157 133 187 199 185 171
Total Revenue		 1,284 1,329 1,257 1,413 1,529 1,516 1,413 1,564 1,649 1,741 1,648
Operating Revenue		 1,284 1,329 1,257 1,413 1,529 1,516 1,413 1,564 1,649 1,741 1,648
Total Cost of Revenue		 1,129 1,176 1,157 1,256 1,356 1,359 1,279 1,377 1,451 1,557 1,477
Operating Cost of Revenue		 1,129 1,176 1,157 1,256 1,356 1,359 1,279 1,377 1,451 1,557 1,477
Total Operating Expenses		 88 92 81 86 85 82 89 101 99 97 100
Selling, General & Admin Expense		 76 91 78 86 84 81 89 100 98 97 100
Restructuring Charge		 13 1.83 2.70 0.90 1.08 1.01 0.55 0.52 0.91 0.47 0.79
Total Other Income / (Expense), net		 -14 -15 -17 -16 -21 -22 -18 -16 -17 -11 -8.06
Interest & Investment Income		 -13 -19 -18 -17 -21 -22 -18 -17 -18 -12 -7.79
Other Income / (Expense), net		 -0.56 3.13 1.26 1.09 0.47 -0.05 0.43 0.84 0.61 0.89 -0.27
Income Tax Expense		 9.81 3.95 0.51 16 20 15 7.74 20 24 22 18
Basic Earnings per Share		 $0.81 $0.78 $0.02 $0.73 $0.90 $0.72 $0.35 $0.92 $1.09 $1.01 $0.82
Weighted Average Basic Shares Outstanding		 53.18M 53.20M 53.18M 53.30M 53.34M 53.30M 53.49M 53.64M 53.69M 53.64M 53.81M
Diluted Earnings per Share		 $0.80 $0.77 $0.02 $0.72 $0.89 $0.70 $0.35 $0.91 $1.07 $0.98 $0.81
Weighted Average Diluted Shares Outstanding		 53.75M 53.76M 53.94M 54.32M 54.35M 54.22M 54.41M 54.65M 54.68M 54.58M 54.71M
Weighted Average Basic & Diluted Shares Outstanding		 53.11M 53.14M 53.28M 53.33M 53.36M 53.44M 53.64M 53.67M 53.71M 53.75M 54.00M
Cash Dividends to Common per Share		 $0.06 $0.06 $0.06 $0.06 $0.06 $0.06 $0.06 $0.06 $0.06 $0.08 $0.08

Annual Cash Flow Statements for Primoris Services

This table details how cash moves in and out of Primoris Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 22 -25 35 -18 -30 208 -125 53 -35 238
Net Cash From Operating Activities		 48 63 189 127 119 313 80 83 199 508
Net Cash From Continuing Operating Activities		 48 63 189 127 119 313 80 83 199 508
Net Income / (Loss) Continuing Operations		 37 28 77 88 84 105 116 133 126 181
Consolidated Net Income / (Loss)		 37 28 77 88 84 105 116 133 126 181
Depreciation Expense		 58 61 58 79 85 82 106 99 107 96
Non-Cash Adjustments To Reconcile Net Income		 -2.62 -40 2.03 -70 9.63 14 -71 -183 -264 37
Changes in Operating Assets and Liabilities, net		 -51 7.04 44 30 -60 112 -70 34 229 195
Net Cash From Investing Activities		 -49 -59 -131 -209 -66 -43 -691 -482 -30 -27
Net Cash From Continuing Investing Activities		 -49 -59 -131 -209 -66 -43 -691 -482 -30 -27
Purchase of Property, Plant & Equipment		 -67 -58 -80 -110 -94 -64 -134 -95 -103 -127
Acquisitions		 -22 -11 -66 -111 0.00 0.00 -607 -478 9.30 0.00
Sale of Property, Plant & Equipment		 9.89 9.60 8.74 27 29 22 50 41 64 99
Other Investing Activities, net		 - - - -15 - 0.00 0.00 50 0.00 0.00
Net Cash From Financing Activities		 22 -28 -23 64 -83 -63 486 452 -205 -244
Net Cash From Continuing Financing Activities		 22 -28 -23 64 -83 -63 486 452 -205 -244
Repayment of Debt		 -45 -59 -63 -337 -291 -74 -227 -186 -641 -224
Repurchase of Common Equity		 - -5.00 -5.00 -20 0.00 -11 -15 -5.99 0.00 0.00
Payment of Dividends		 -9.84 -11 -11 -25 -12 -12 -13 -13 -13 -13
Issuance of Debt		 75 45 55 446 268 34 562 658 450 0.00
Other Financing Activities, net		 - - - -1.20 -50 - - -1.32 -1.73 -7.47
Effect of Exchange Rate Changes		 - - - - 0.40 -0.14 0.46 -0.10 1.29 1.16
Cash Interest Paid		 7.69 8.82 7.97 16 16 17 22 37 82 61
Cash Income Taxes Paid		 19 8.62 26 14 17 27 39 3.57 5.07 65

Quarterly Cash Flow Statements for Primoris Services

This table details how cash moves in and out of Primoris Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 37 126 -158 28 38 57 -40 29 145 103 -104
Net Cash From Operating Activities		 -11 185 -115 35 74 206 -28 16 222 298 66
Net Cash From Continuing Operating Activities		 -11 185 -115 35 74 206 -28 16 222 298 66
Net Income / (Loss) Continuing Operations		 43 42 1.31 39 48 38 19 50 58 54 44
Consolidated Net Income / (Loss)		 43 42 1.31 39 48 38 19 50 58 54 44
Depreciation Expense		 29 30 28 27 27 26 25 26 23 23 21
Non-Cash Adjustments To Reconcile Net Income		 -89 15 -87 -92 31 -116 -37 -13 65 23 -166
Changes in Operating Assets and Liabilities, net		 6.84 99 -57 60 -33 259 -35 -46 77 199 166
Net Cash From Investing Activities		 -441 3.07 -6.47 -3.16 -16 -4.39 4.19 35 -40 -26 -33
Net Cash From Continuing Investing Activities		 -441 3.07 -6.47 -3.16 -16 -4.39 4.19 35 -40 -26 -33
Purchase of Property, Plant & Equipment		 -9.88 -19 -14 -29 -40 -21 -10 -24 -64 -28 -41
Sale of Property, Plant & Equipment		 8.05 22 7.38 16 24 16 15 59 24 1.88 7.41
Net Cash From Financing Activities		 489 -63 -37 -4.51 -19 -145 -15 -24 -35 -170 -137
Net Cash From Continuing Financing Activities		 489 -63 -37 -4.51 -19 -145 -15 -24 -35 -170 -137
Repayment of Debt		 -38 -77 -108 -316 -66 -152 -7.89 -20 -30 -166 -124
Payment of Dividends		 -3.19 -3.20 -3.19 -3.20 -3.20 -3.20 -3.20 -3.22 -3.22 -3.23 -4.30
Issuance of Common Equity		 - - 0.49 - - - 0.62 - - - 0.78
Other Financing Activities, net		 - - -1.34 -0.05 -0.25 -0.10 -4.64 -0.13 -1.82 -0.88 -9.91
Effect of Exchange Rate Changes		 -0.88 0.82 -0.08 1.03 -0.60 0.94 -0.31 1.97 -2.05 1.56 0.01
Cash Interest Paid		 8.44 17 17 20 20 25 6.83 27 16 12 7.30
Cash Income Taxes Paid		 0.40 1.03 -17 0.33 9.67 12 -0.02 9.22 6.27 50 -0.42

Annual Balance Sheets for Primoris Services

This table presents Primoris Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 1,132 1,171 1,256 1,594 1,830 1,970 2,543 3,544 3,827 4,196
Total Current Assets		 687 731 743 924 913 1,115 1,182 1,704 1,885 2,159
Cash & Equivalents		 161 136 170 151 120 327 201 249 218 456
Accounts Receivable		 437 527 292 373 405 432 472 663 685 834
Prepaid Expenses		 18 19 15 36 43 30 86 176 136 96
Other Current Assets		 - - 266 364 345 326 424 616 846 774
Plant, Property, & Equipment, net		 284 277 312 376 0.00 356 433 494 476 488
Total Noncurrent Assets		 162 162 201 294 918 498 928 1,346 1,466 1,548
Goodwill		 124 127 153 206 215 215 582 872 858 857
Intangible Assets		 36 33 45 81 70 61 171 249 228 208
Other Noncurrent Operating Assets		 0.21 2.05 2.58 5.00 632 220 174 225 381 483
Total Liabilities & Shareholders' Equity		 1,132 1,171 1,256 1,594 1,830 1,970 2,543 3,544 3,827 4,196
Total Liabilities		 649 672 694 987 1,201 1,255 1,553 2,435 2,591 2,786
Total Current Liabilities		 416 450 455 622 670 764 759 1,138 1,335 1,671
Short-Term Debt		 55 58 65 62 56 48 67 78 73 75
Accounts Payable		 124 168 141 249 236 246 273 535 629 624
Accrued Expenses		 94 108 76 118 184 201 175 246 263 350
Dividends Payable		 2.84 2.84 3.09 3.04 2.92 2.89 3.19 3.19 3.20 4.30
Other Current Liabilities		 - - 169 190 192 267 240 276 366 617
Total Noncurrent Liabilities		 233 222 239 365 530 490 794 1,297 1,256 1,116
Long-Term Debt		 220 203 193 306 296 269 594 1,065 885 660
Noncurrent Deferred & Payable Income Tax Liabilities		 - 9.83 14 8.17 18 14 39 57 60 64
Other Noncurrent Operating Liabilities		 13 9.06 32 52 217 208 161 175 311 391
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 483 499 562 607 630 715 990 1,109 1,236 1,410
Total Preferred & Common Equity		 483 497 556 604 629 715 990 1,109 1,236 1,410
Total Common Equity		 483 497 556 604 629 715 990 1,109 1,236 1,410
Common Stock		 163 162 161 144 97 89 262 264 276 286
Retained Earnings		 320 335 396 461 531 625 727 848 961 1,128
Accumulated Other Comprehensive Income / (Loss)		 - - - -0.91 0.08 0.96 0.70 -2.62 -0.79 -4.24

Quarterly Balance Sheets for Primoris Services

This table presents Primoris Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 3,454 3,523 3,722 3,803 3,954 4,050 4,240 4,217
Total Current Assets		 1,662 1,682 1,871 1,891 1,999 2,091 2,223 2,174
Cash & Equivalents		 112 95 123 161 178 207 353 352
Accounts Receivable		 688 746 818 852 812 888 941 757
Prepaid Expenses		 217 119 143 135 138 123 123 127
Other Current Assets		 646 722 787 744 872 873 806 939
Plant, Property, & Equipment, net		 509 484 481 489 463 446 484 507
Total Noncurrent Assets		 1,284 1,357 1,371 1,423 1,492 1,512 1,533 1,537
Goodwill		 820 872 858 858 858 858 858 857
Intangible Assets		 270 243 238 233 222 217 213 203
Other Noncurrent Operating Assets		 186 242 275 332 412 437 463 477
Total Liabilities & Shareholders' Equity		 3,454 3,523 3,722 3,803 3,954 4,050 4,240 4,217
Total Liabilities		 2,386 2,414 2,572 2,606 2,705 2,751 2,882 2,772
Total Current Liabilities		 1,086 1,134 1,289 1,298 1,448 1,485 1,612 1,783
Short-Term Debt		 80 78 76 85 90 89 77 68
Accounts Payable		 477 561 513 500 632 584 489 795
Accrued Expenses		 269 224 278 322 283 325 386 360
Dividends Payable		 3.20 3.20 3.20 3.20 3.22 3.22 3.22 4.32
Other Current Liabilities		 256 268 418 388 440 484 657 555
Total Noncurrent Liabilities		 1,301 1,279 1,283 1,308 1,257 1,266 1,270 988
Long-Term Debt		 1,122 1,035 1,037 1,014 862 844 827 544
Noncurrent Deferred & Payable Income Tax Liabilities		 42 55 30 29 59 59 59 64
Other Noncurrent Operating Liabilities		 136 190 216 266 335 363 383 381
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,068 1,109 1,150 1,197 1,249 1,299 1,358 1,446
Total Preferred & Common Equity		 1,068 1,109 1,150 1,197 1,249 1,299 1,358 1,446
Total Common Equity		 1,068 1,109 1,150 1,197 1,249 1,299 1,358 1,446
Common Stock		 262 266 269 273 275 279 282 282
Retained Earnings		 809 846 882 927 977 1,023 1,078 1,168
Accumulated Other Comprehensive Income / (Loss)		 -3.18 -2.51 -1.13 -2.57 -2.06 -2.68 -1.86 -4.14

Annual Metrics And Ratios for Primoris Services

This table displays calculated financial ratios and metrics derived from Primoris Services' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -7.52% 3.50% 19.18% 23.51% 5.68% 12.40% 0.18% 26.39% 29.29% 11.40%
EBITDA Growth		 -17.24% -6.17% 37.93% 20.93% 6.13% 11.51% 11.23% 7.88% 21.91% 14.57%
EBIT Growth		 -33.54% -16.14% 85.69% 21.79% 5.14% 20.80% 2.90% 16.52% 28.89% 25.17%
NOPAT Growth		 -36.20% -20.50% 136.81% 29.95% -0.34% 17.62% 9.73% 25.79% 10.15% 25.37%
Net Income Growth		 -41.66% -25.37% 177.19% 13.98% -3.99% 24.84% 10.25% 14.93% -5.17% 43.40%
EPS Growth		 -41.80% -28.17% 174.51% 7.14% 7.33% 34.16% 0.46% 13.82% -5.67% 42.06%
Operating Cash Flow Growth		 34.00% 29.35% 201.94% -32.88% -6.21% 163.15% -74.52% 4.51% 138.23% 156.01%
Free Cash Flow Firm Growth		 66.31% 119.34% 1,167.52% -243.68% 188.33% 327.48% -325.06% 36.88% 153.07% 147.83%
Invested Capital Growth		 11.53% 4.81% 4.32% 26.53% 4.39% -18.06% 105.54% 38.00% -1.35% -14.49%
Revenue Q/Q Growth		 0.50% 5.53% -0.95% 11.31% -2.75% 3.18% -0.37% 11.18% 3.37% 3.68%
EBITDA Q/Q Growth		 6.31% 4.26% -1.77% 18.95% -9.05% 3.41% -2.12% 11.13% 1.84% 2.63%
EBIT Q/Q Growth		 11.24% 9.95% -3.25% 26.37% -7.71% 5.81% -6.96% 15.54% 4.40% 4.46%
NOPAT Q/Q Growth		 8.59% 8.73% 12.20% 17.39% -10.06% 3.68% 0.06% 15.23% -1.68% 4.13%
Net Income Q/Q Growth		 11.01% 8.02% 13.33% 13.73% -7.55% 4.27% -1.93% 9.88% -2.96% 9.91%
EPS Q/Q Growth		 10.94% 6.25% 12.90% 15.38% -6.40% 6.93% -3.98% 8.81% -2.92% 9.24%
Operating Cash Flow Q/Q Growth		 124.46% -45.91% 8.97% 766.40% 19.46% -10.71% -41.85% 319.86% 11.40% 22.26%
Free Cash Flow Firm Q/Q Growth		 64.54% -93.35% 19.50% 60.26% 76.29% -10.97% -13.50% 30.41% 0.26% 15.87%
Invested Capital Q/Q Growth		 -6.58% 2.71% 2.63% -8.66% -11.97% -10.09% -0.41% -7.15% -7.40% -11.48%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 11.40% 10.08% 11.70% 11.08% 10.65% 10.60% 11.91% 10.34% 10.28% 11.05%
EBITDA Margin		 6.94% 6.29% 7.28% 7.13% 7.16% 7.10% 7.89% 6.73% 6.35% 6.53%
Operating Margin		 3.51% 2.89% 4.47% 4.44% 4.54% 4.70% 4.86% 4.42% 4.43% 4.99%
EBIT Margin		 3.56% 2.89% 4.50% 4.43% 4.41% 4.74% 4.87% 4.49% 4.48% 5.03%
Profit (Net Income) Margin		 1.93% 1.39% 3.23% 2.98% 2.71% 3.01% 3.31% 3.01% 2.21% 2.84%
Tax Burden Percent		 60.81% 56.73% 72.99% 77.27% 71.32% 72.08% 76.22% 83.51% 71.00% 70.96%
Interest Burden Percent		 88.90% 84.79% 98.37% 86.96% 86.03% 87.97% 89.14% 80.25% 69.45% 79.60%
Effective Tax Rate		 39.19% 43.27% 27.01% 22.73% 28.68% 27.92% 23.78% 16.49% 29.00% 29.04%
Return on Invested Capital (ROIC)		 7.27% 5.35% 12.12% 13.62% 11.89% 15.05% 12.00% 9.43% 9.01% 12.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.14% 1.20% 11.45% 5.13% 4.67% 3.40% 5.89% 5.01% 2.49% 3.63%
Return on Net Nonoperating Assets (RNNOA)		 0.66% 0.30% 2.37% 1.37% 1.72% 0.57% 1.58% 3.25% 1.74% 1.41%
Return on Equity (ROE)		 7.93% 5.65% 14.49% 14.98% 13.60% 15.62% 13.58% 12.68% 10.76% 13.67%
Cash Return on Invested Capital (CROIC)		 -3.63% 0.65% 7.89% -9.81% 7.59% 34.90% -57.09% -22.51% 10.37% 27.89%
Operating Return on Assets (OROA)		 6.16% 5.01% 8.82% 9.15% 8.00% 8.71% 7.55% 6.52% 6.94% 7.98%
Return on Assets (ROA)		 3.33% 2.41% 6.33% 6.15% 4.91% 5.53% 5.13% 4.37% 3.42% 4.51%
Return on Common Equity (ROCE)		 7.93% 5.64% 14.40% 14.88% 13.56% 15.61% 13.58% 12.68% 10.76% 13.67%
Return on Equity Simple (ROE_SIMPLE)		 7.69% 5.57% 13.81% 14.50% 13.38% 14.69% 11.69% 12.00% 10.21% 12.83%
Net Operating Profit after Tax (NOPAT)		 41 33 78 101 100 118 130 163 180 225
NOPAT Margin		 2.14% 1.64% 3.26% 3.43% 3.23% 3.38% 3.71% 3.69% 3.14% 3.54%
Net Nonoperating Expense Percent (NNEP)		 4.13% 4.15% 0.67% 8.49% 7.21% 11.65% 6.10% 4.42% 6.52% 8.64%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 7.24% 8.19% 10.50%
Cost of Revenue to Revenue		 88.60% 89.92% 88.30% 88.92% 89.35% 89.40% 88.09% 89.66% 89.72% 88.95%
SG&A Expenses to Revenue		 7.86% 7.01% 7.16% 6.19% 6.09% 5.81% 6.58% 6.37% 5.75% 6.02%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 7.88% 7.19% 7.23% 6.64% 6.12% 5.91% 7.05% 5.92% 5.85% 6.06%
Earnings before Interest and Taxes (EBIT)		 69 58 107 130 137 166 170 198 256 320
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 134 126 173 210 222 248 276 298 363 416
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.16 2.20 2.35 1.53 1.73 1.80 1.28 1.04 1.43 2.91
Price to Tangible Book Value (P/TBV)		 3.24 3.25 3.65 2.92 3.16 2.94 5.33 0.00 11.69 11.90
Price to Revenue (P/Rev)		 0.54 0.55 0.55 0.32 0.35 0.37 0.36 0.26 0.31 0.64
Price to Earnings (P/E)		 28.36 40.97 18.10 11.96 13.18 12.26 10.91 8.65 13.98 22.69
Dividend Yield		 1.01% 1.04% 0.88% 1.33% 1.13% 0.90% 1.02% 1.11% 0.73% 0.34%
Earnings Yield		 3.53% 2.44% 5.53% 8.36% 7.59% 8.15% 9.17% 11.56% 7.15% 4.41%
Enterprise Value to Invested Capital (EV/IC)		 1.94 1.95 2.15 1.39 1.53 1.81 1.19 1.02 1.26 2.59
Enterprise Value to Revenue (EV/Rev)		 0.60 0.61 0.59 0.39 0.42 0.37 0.49 0.46 0.44 0.69
Enterprise Value to EBITDA (EV/EBITDA)		 8.64 9.72 8.10 5.47 5.92 5.15 6.25 6.87 6.90 10.54
Enterprise Value to EBIT (EV/EBIT)		 16.84 21.19 13.12 8.79 9.61 7.72 10.12 10.30 9.79 13.69
Enterprise Value to NOPAT (EV/NOPAT)		 28.09 37.28 18.09 11.37 13.11 10.81 13.29 12.54 13.94 19.46
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.92 19.52 7.43 9.04 11.07 4.08 21.61 24.54 12.61 8.62
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 306.33 27.78 0.00 20.53 4.66 0.00 0.00 12.12 8.56
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.57 0.52 0.46 0.61 0.56 0.44 0.67 1.03 0.78 0.52
Long-Term Debt to Equity		 0.45 0.41 0.34 0.50 0.47 0.38 0.60 0.96 0.72 0.47
Financial Leverage		 0.21 0.25 0.21 0.27 0.37 0.17 0.27 0.65 0.70 0.39
Leverage Ratio		 2.38 2.34 2.29 2.44 2.77 2.83 2.65 2.90 3.14 3.03
Compound Leverage Factor		 2.12 1.99 2.25 2.12 2.38 2.49 2.36 2.33 2.18 2.41
Debt to Total Capital		 36.28% 34.41% 31.52% 37.75% 35.82% 30.69% 40.05% 50.77% 43.67% 34.27%
Short-Term Debt to Total Capital		 7.30% 7.68% 7.97% 6.41% 5.67% 4.63% 4.07% 3.47% 3.32% 3.48%
Long-Term Debt to Total Capital		 28.98% 26.73% 23.55% 31.35% 30.14% 26.07% 35.98% 47.30% 40.35% 30.79%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.03% 0.16% 0.70% 0.28% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 63.69% 65.43% 67.78% 61.96% 64.08% 69.30% 59.95% 49.23% 56.33% 65.73%
Debt to EBITDA		 2.06 2.08 1.49 1.76 1.58 1.28 2.40 3.84 2.64 1.77
Net Debt to EBITDA		 0.83 1.00 0.51 1.04 1.04 -0.04 1.67 3.01 2.04 0.67
Long-Term Debt to EBITDA		 1.64 1.62 1.12 1.46 1.33 1.08 2.15 3.58 2.44 1.59
Debt to NOPAT		 6.68 7.98 3.34 3.65 3.50 2.68 5.10 7.01 5.33 3.26
Net Debt to NOPAT		 2.71 3.82 1.14 2.15 2.30 -0.09 3.55 5.49 4.12 1.24
Long-Term Debt to NOPAT		 5.34 6.20 2.49 3.03 2.94 2.27 4.58 6.53 4.93 2.93
Altman Z-Score		 3.55 3.54 4.03 3.31 3.05 3.32 2.68 2.24 2.65 3.17
Noncontrolling Interest Sharing Ratio		 0.02% 0.15% 0.65% 0.73% 0.31% 0.08% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.65 1.62 1.63 1.49 1.36 1.46 1.56 1.50 1.41 1.29
Quick Ratio		 1.44 1.47 1.02 0.84 0.78 0.99 0.89 0.80 0.68 0.77
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -21 3.99 51 -73 64 274 -617 -389 207 512
Operating Cash Flow to CapEx		 84.56% 129.23% 265.94% 151.82% 180.57% 736.37% 94.61% 156.11% 505.09% 1,866.60%
Free Cash Flow to Firm to Interest Expense		 -2.68 0.45 6.20 -3.87 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 6.29 7.02 23.19 6.76 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -1.15 1.59 14.47 2.31 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.73 1.73 1.96 2.06 1.81 1.84 1.55 1.45 1.55 1.59
Accounts Receivable Turnover		 4.58 4.14 5.82 8.85 7.99 8.34 7.74 7.79 8.48 8.38
Inventory Turnover		 27.15 30.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 6.95 7.12 8.08 8.55 0.00 0.00 8.86 9.54 11.79 13.21
Accounts Payable Turnover		 13.50 12.28 13.60 13.40 11.44 12.95 11.86 9.81 8.81 9.04
Days Sales Outstanding (DSO)		 79.75 88.07 62.74 41.24 45.69 43.77 47.17 46.85 43.06 43.56
Days Inventory Outstanding (DIO)		 13.44 11.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 27.03 29.73 26.84 27.24 31.90 28.18 30.76 37.22 41.42 40.38
Cash Conversion Cycle (CCC)		 66.15 70.23 35.90 14.00 13.78 15.59 16.41 9.63 1.64 3.18
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 598 627 654 827 863 707 1,454 2,007 1,980 1,693
Invested Capital Turnover		 3.40 3.26 3.72 3.97 3.67 4.45 3.24 2.55 2.87 3.47
Increase / (Decrease) in Invested Capital		 62 29 27 173 36 -156 747 553 -27 -287
Enterprise Value (EV)		 1,157 1,221 1,404 1,146 1,317 1,277 1,723 2,045 2,504 4,383
Market Capitalization		 1,046 1,095 1,309 926 1,085 1,287 1,262 1,150 1,764 4,104
Book Value per Share		 $9.35 $9.60 $10.82 $11.80 $12.33 $14.86 $18.40 $20.88 $23.17 $26.24
Tangible Book Value per Share		 $6.24 $6.51 $6.96 $6.19 $6.74 $9.12 $4.40 ($0.23) $2.83 $6.42
Total Capital		 759 760 821 975 981 1,031 1,652 2,252 2,194 2,144
Total Debt		 275 262 259 368 351 317 661 1,143 958 735
Total Long-Term Debt		 220 203 193 306 296 269 594 1,065 885 660
Net Debt		 112 125 88 217 231 -10 461 895 740 279
Capital Expenditures (CapEx)		 57 48 71 84 66 43 84 53 39 27
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 162 203 183 214 178 72 290 396 405 108
Debt-free Net Working Capital (DFNWC)		 326 340 354 365 298 399 490 644 623 563
Net Working Capital (NWC)		 271 281 288 303 242 351 423 566 550 489
Net Nonoperating Expense (NNE)		 4.06 5.04 0.73 13 16 13 14 30 54 44
Net Nonoperating Obligations (NNO)		 114 128 92 220 234 -7.30 464 898 744 283
Total Depreciation and Amortization (D&A)		 65 68 66 79 85 82 106 99 107 96
Debt-free, Cash-free Net Working Capital to Revenue		 8.41% 10.18% 7.71% 7.28% 5.72% 2.06% 8.28% 8.95% 7.09% 1.69%
Debt-free Net Working Capital to Revenue		 16.90% 17.00% 14.86% 12.42% 9.59% 11.42% 14.02% 14.58% 10.90% 8.85%
Net Working Capital to Revenue		 14.03% 14.08% 12.11% 10.30% 7.80% 10.05% 12.09% 12.81% 9.63% 7.68%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.71 $0.52 $1.41 $1.51 $1.62 $2.17 $2.19 $2.50 $2.37 $3.37
Adjusted Weighted Average Basic Shares Outstanding		 51.65M 51.76M 51.48M 51.35M 50.78M 48.30M 52.67M 53.20M 53.30M 53.64M
Adjusted Diluted Earnings per Share		 $0.71 $0.51 $1.40 $1.50 $1.61 $2.16 $2.17 $2.47 $2.33 $3.31
Adjusted Weighted Average Diluted Shares Outstanding		 51.80M 51.99M 51.74M 51.67M 51.08M 48.63M 53.16M 53.76M 54.22M 54.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 51.75M 51.56M 51.53M 50.72M 48.67M 49.15M 53.22M 53.14M 53.44M 53.75M
Normalized Net Operating Profit after Tax (NOPAT)		 41 35 79 111 101 121 142 180 184 227
Normalized NOPAT Margin		 2.15% 1.74% 3.31% 3.78% 3.26% 3.46% 4.07% 4.07% 3.21% 3.57%
Pre Tax Income Margin		 3.17% 2.45% 4.42% 3.86% 3.80% 4.17% 4.34% 3.60% 3.11% 4.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 8.94 6.47 13.14 6.95 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 5.36 3.68 9.52 5.38 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 1.50 1.03 4.42 2.50 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -2.08 -1.76 0.80 0.92 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 26.48% 41.06% 14.74% 29.03% 14.52% 11.04% 10.86% 9.61% 10.13% 7.11%
Augmented Payout Ratio		 26.48% 59.09% 21.24% 51.86% 14.52% 21.95% 23.57% 14.11% 10.13% 7.11%

Quarterly Metrics And Ratios for Primoris Services

This table displays calculated financial ratios and metrics derived from Primoris Services' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 40.61% 50.28% 60.24% 38.17% 19.11% 14.02% 12.40% 10.64% 7.82% 14.90% 16.66%
EBITDA Growth		 2.02% 46.59% 131.36% 11.65% 22.31% 7.00% 44.22% 13.85% 6.29% 10.63% 32.12%
EBIT Growth		 0.70% 71.57% 3,379.42% 5.74% 34.81% 16.85% 120.22% 20.91% 12.70% 18.30% 56.92%
NOPAT Growth		 14.39% 66.68% 2,663.51% -5.77% 15.94% -4.41% 129.33% 21.63% 12.60% 16.82% 59.06%
Net Income Growth		 -2.31% 40.49% 178.26% -22.18% 11.86% -9.26% 1,346.03% 26.93% 21.38% 43.30% 133.54%
EPS Growth		 -1.23% 35.09% 166.67% -22.58% 11.25% -9.09% 1,650.00% 26.39% 20.22% 40.00% 131.43%
Operating Cash Flow Growth		 -215.49% 189.08% -1,853.64% 135.32% 774.65% 10.96% 75.32% -53.44% 201.89% 45.00% 332.48%
Free Cash Flow Firm Growth		 -3.39% 30.33% -362.97% -154.19% 113.32% 116.12% 121.24% 139.40% 243.98% 335.55% 172.15%
Invested Capital Growth		 48.03% 38.00% 43.65% 30.22% -1.08% -1.35% -4.84% -5.37% -10.56% -14.49% -15.61%
Revenue Q/Q Growth		 25.53% 3.51% -5.44% 12.45% 8.22% -0.91% -6.79% 10.69% 5.46% 5.59% -5.35%
EBITDA Q/Q Growth		 6.67% -0.71% -48.82% 105.97% 16.85% -13.14% -31.01% 62.60% 9.09% -9.59% -17.62%
EBIT Q/Q Growth		 -3.02% -2.90% -68.31% 254.37% 23.63% -15.84% -40.28% 94.56% 15.25% -11.66% -20.78%
NOPAT Q/Q Growth		 1.54% 2.68% -75.36% 266.83% 24.94% -15.34% -40.89% 94.56% 15.66% -12.18% -19.52%
Net Income Q/Q Growth		 -14.18% -3.58% -96.84% 2,879.54% 23.34% -21.78% -49.70% 161.54% 17.95% -7.65% -18.02%
EPS Q/Q Growth		 -13.98% -3.75% -97.40% 3,500.00% 23.61% -21.35% -50.00% 160.00% 17.58% -8.41% -17.35%
Operating Cash Flow Q/Q Growth		 88.82% 1,797.32% -162.22% 129.92% 113.55% 179.16% -113.84% 156.45% 1,284.52% 34.08% -77.81%
Free Cash Flow Firm Q/Q Growth		 -267.85% 23.20% -27.47% 29.42% 119.27% -7.00% 67.94% 30.90% 68.25% 17.76% 4.94%
Invested Capital Q/Q Growth		 31.33% -7.15% 6.14% 0.62% -0.24% -7.40% 2.37% 0.07% -5.71% -11.48% 1.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 12.06% 11.54% 7.93% 11.13% 11.37% 10.33% 9.44% 11.94% 12.04% 10.60% 10.35%
EBITDA Margin		 7.36% 7.06% 3.82% 7.00% 7.56% 6.62% 4.90% 7.20% 7.45% 6.38% 5.55%
Operating Margin		 5.18% 4.58% 1.51% 5.01% 5.78% 4.94% 3.13% 5.50% 6.04% 5.03% 4.27%
EBIT Margin		 5.13% 4.82% 1.61% 5.09% 5.81% 4.94% 3.16% 5.56% 6.07% 5.08% 4.25%
Profit (Net Income) Margin		 3.35% 3.12% 0.10% 2.76% 3.15% 2.48% 1.34% 3.17% 3.54% 3.10% 2.68%
Tax Burden Percent		 81.44% 91.30% 71.98% 70.97% 71.00% 71.00% 71.00% 71.00% 71.00% 70.87% 71.00%
Interest Burden Percent		 80.17% 71.01% 8.97% 76.51% 76.30% 70.91% 59.72% 80.29% 82.17% 86.06% 88.89%
Effective Tax Rate		 18.56% 8.70% 28.02% 29.03% 29.00% 29.00% 29.00% 29.00% 29.00% 29.13% 29.00%
Return on Invested Capital (ROIC)		 9.26% 10.68% 2.95% 9.91% 10.56% 10.05% 6.28% 11.28% 13.00% 12.36% 10.71%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.85% 8.62% 1.32% 8.52% 9.12% 8.17% 4.89% 9.94% 11.36% 10.78% 9.61%
Return on Net Nonoperating Assets (RNNOA)		 6.05% 5.59% 0.95% 6.27% 8.19% 5.72% 3.73% 6.99% 6.65% 4.18% 3.72%
Return on Equity (ROE)		 15.31% 16.28% 3.90% 16.18% 18.75% 15.77% 10.01% 18.27% 19.65% 16.54% 14.43%
Cash Return on Invested Capital (CROIC)		 -30.91% -22.51% -25.99% -17.03% 9.59% 10.37% 14.47% 15.51% 21.83% 27.89% 29.98%
Operating Return on Assets (OROA)		 6.75% 6.99% 2.58% 8.35% 8.85% 7.65% 4.97% 8.61% 9.27% 8.06% 6.87%
Return on Assets (ROA)		 4.40% 4.53% 0.17% 4.53% 4.80% 3.85% 2.11% 4.91% 5.41% 4.92% 4.34%
Return on Common Equity (ROCE)		 15.31% 16.28% 3.90% 16.18% 18.75% 15.77% 10.01% 18.27% 19.65% 16.54% 14.43%
Return on Equity Simple (ROE_SIMPLE)		 11.34% 0.00% 12.26% 10.86% 10.86% 0.00% 11.51% 11.88% 12.12% 0.00% 14.26%
Net Operating Profit after Tax (NOPAT)		 54 56 14 50 63 53 31 61 71 62 50
NOPAT Margin		 4.22% 4.18% 1.09% 3.55% 4.10% 3.51% 2.22% 3.91% 4.29% 3.56% 3.03%
Net Nonoperating Expense Percent (NNEP)		 1.41% 2.07% 1.63% 1.40% 1.44% 1.89% 1.39% 1.34% 1.64% 1.58% 1.10%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.47% - - - 2.42% - - - 2.89% 2.43%
Cost of Revenue to Revenue		 87.94% 88.46% 92.07% 88.87% 88.63% 89.67% 90.56% 88.06% 87.96% 89.40% 89.65%
SG&A Expenses to Revenue		 5.90% 6.82% 6.21% 6.05% 5.52% 5.33% 6.27% 6.40% 5.95% 5.54% 6.04%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 6.89% 6.96% 6.42% 6.12% 5.59% 5.39% 6.31% 6.44% 6.00% 5.57% 6.09%
Earnings before Interest and Taxes (EBIT)		 66 64 20 72 89 75 45 87 100 88 70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 94 94 48 99 116 100 69 113 123 111 91
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.80 1.04 1.17 1.40 1.45 1.43 1.82 2.06 2.30 2.91 2.13
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 29.91 16.31 11.69 13.39 11.93 10.83 11.90 8.00
Price to Revenue (P/Rev)		 0.21 0.26 0.27 0.31 0.31 0.31 0.39 0.44 0.51 0.64 0.47
Price to Earnings (P/E)		 7.05 8.65 9.56 12.92 13.35 13.98 15.78 17.34 18.94 22.69 14.97
Dividend Yield		 1.50% 1.11% 0.98% 0.79% 0.74% 0.73% 0.56% 0.48% 0.41% 0.34% 0.49%
Earnings Yield		 14.19% 11.56% 10.47% 7.74% 7.49% 7.15% 6.34% 5.77% 5.28% 4.41% 6.68%
Enterprise Value to Invested Capital (EV/IC)		 0.90 1.02 1.09 1.21 1.25 1.26 1.50 1.68 1.92 2.59 1.96
Enterprise Value to Revenue (EV/Rev)		 0.49 0.46 0.47 0.49 0.48 0.44 0.52 0.56 0.60 0.69 0.51
Enterprise Value to EBITDA (EV/EBITDA)		 7.26 6.87 7.13 7.77 7.50 6.90 7.92 8.55 9.06 10.54 7.64
Enterprise Value to EBIT (EV/EBIT)		 11.31 10.30 10.62 11.72 10.91 9.79 10.86 11.52 11.97 13.69 9.68
Enterprise Value to NOPAT (EV/NOPAT)		 13.73 12.54 13.03 14.89 14.63 13.94 15.40 16.32 16.96 19.46 13.72
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 24.54 0.00 27.81 15.00 12.61 10.66 12.74 8.82 8.62 5.55
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 12.97 12.12 10.12 10.52 8.30 8.56 5.97
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.13 1.03 1.00 0.97 0.92 0.78 0.76 0.72 0.67 0.52 0.42
Long-Term Debt to Equity		 1.05 0.96 0.93 0.90 0.85 0.72 0.69 0.65 0.61 0.47 0.38
Financial Leverage		 0.77 0.65 0.72 0.74 0.90 0.70 0.76 0.70 0.59 0.39 0.39
Leverage Ratio		 2.96 2.90 2.92 2.95 3.20 3.14 3.17 3.17 3.15 3.03 3.03
Compound Leverage Factor		 2.37 2.06 0.26 2.26 2.44 2.23 1.89 2.55 2.59 2.61 2.70
Debt to Total Capital		 52.95% 50.77% 50.07% 49.20% 47.86% 43.67% 43.24% 41.80% 39.96% 34.27% 29.74%
Short-Term Debt to Total Capital		 3.53% 3.47% 3.49% 3.37% 3.71% 3.32% 4.07% 4.00% 3.39% 3.48% 3.31%
Long-Term Debt to Total Capital		 49.43% 47.30% 46.58% 45.83% 44.15% 40.35% 39.17% 37.80% 36.56% 30.79% 26.43%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 47.05% 49.23% 49.93% 50.80% 52.14% 56.33% 56.76% 58.20% 60.04% 65.73% 70.26%
Debt to EBITDA		 4.49 3.84 3.42 3.32 3.08 2.64 2.48 2.35 2.23 1.77 1.40
Net Debt to EBITDA		 4.07 3.01 3.13 2.95 2.63 2.04 2.02 1.82 1.36 0.67 0.59
Long-Term Debt to EBITDA		 4.19 3.58 3.19 3.09 2.84 2.44 2.24 2.12 2.04 1.59 1.24
Debt to NOPAT		 8.49 7.01 6.26 6.37 6.01 5.33 4.82 4.48 4.18 3.26 2.51
Net Debt to NOPAT		 7.70 5.49 5.72 5.66 5.13 4.12 3.92 3.48 2.55 1.24 1.07
Long-Term Debt to NOPAT		 7.93 6.53 5.82 5.93 5.55 4.93 4.36 4.05 3.82 2.93 2.23
Altman Z-Score		 1.96 2.12 2.25 2.38 2.46 2.49 2.54 2.67 2.70 2.99 2.79
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.53 1.50 1.48 1.45 1.46 1.41 1.38 1.41 1.38 1.29 1.22
Quick Ratio		 0.74 0.80 0.74 0.73 0.78 0.68 0.68 0.74 0.80 0.77 0.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -647 -497 -634 -447 86 80 135 176 296 349 366
Operating Cash Flow to CapEx		 -597.48% 0.00% -1,782.64% 276.99% 460.70% 4,686.69% 0.00% 0.00% 553.58% 1,132.30% 199.45%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.31 1.45 1.60 1.64 1.52 1.55 1.57 1.55 1.53 1.59 1.62
Accounts Receivable Turnover		 6.40 7.79 8.18 7.47 7.18 8.48 7.53 7.06 6.85 8.38 8.42
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.43 9.54 10.39 11.20 11.08 11.79 12.40 12.99 12.61 13.21 13.62
Accounts Payable Turnover		 9.02 9.81 10.33 10.99 10.12 8.81 8.80 9.79 11.05 9.04 8.21
Days Sales Outstanding (DSO)		 57.03 46.85 44.64 48.89 50.82 43.06 48.44 51.72 53.27 43.56 43.36
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 40.45 37.22 35.35 33.22 36.08 41.42 41.50 37.28 33.03 40.38 44.45
Cash Conversion Cycle (CCC)		 16.58 9.63 9.29 15.67 14.74 1.64 6.95 14.44 20.25 3.18 -1.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,161 2,007 2,130 2,143 2,138 1,980 2,027 2,028 1,912 1,693 1,710
Invested Capital Turnover		 2.20 2.55 2.71 2.79 2.57 2.87 2.82 2.89 3.03 3.47 3.53
Increase / (Decrease) in Invested Capital		 701 553 647 497 -23 -27 -103 -115 -226 -287 -316
Enterprise Value (EV)		 1,943 2,045 2,317 2,604 2,674 2,504 3,043 3,402 3,668 4,383 3,346
Market Capitalization		 853 1,150 1,300 1,613 1,736 1,764 2,269 2,676 3,117 4,104 3,086
Book Value per Share		 $20.07 $20.88 $20.87 $21.57 $22.44 $23.17 $23.36 $24.22 $25.30 $26.24 $26.90
Tangible Book Value per Share		 ($0.43) ($0.23) ($0.11) $1.01 $2.00 $2.83 $3.17 $4.18 $5.36 $6.42 $7.17
Total Capital		 2,270 2,252 2,222 2,263 2,296 2,194 2,201 2,232 2,262 2,144 2,058
Total Debt		 1,202 1,143 1,112 1,113 1,099 958 952 933 904 735 612
Total Long-Term Debt		 1,122 1,065 1,035 1,037 1,014 885 862 844 827 660 544
Net Debt		 1,090 895 1,018 990 938 740 774 726 551 279 260
Capital Expenditures (CapEx)		 1.83 -3.07 6.47 12 16 4.39 -4.19 -35 40 26 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 545 396 530 535 518 405 463 488 334 108 107
Debt-free Net Working Capital (DFNWC)		 657 644 625 658 678 623 641 696 687 563 459
Net Working Capital (NWC)		 576 566 548 582 593 550 551 606 610 489 391
Net Nonoperating Expense (NNE)		 11 14 12 11 15 15 12 12 12 8.11 5.72
Net Nonoperating Obligations (NNO)		 1,093 898 1,021 994 941 744 777 729 554 283 265
Total Depreciation and Amortization (D&A)		 29 30 28 27 27 26 25 26 23 23 21
Debt-free, Cash-free Net Working Capital to Revenue		 13.70% 8.95% 10.84% 10.13% 9.36% 7.09% 7.89% 8.11% 5.44% 1.69% 1.62%
Debt-free Net Working Capital to Revenue		 16.51% 14.58% 12.78% 12.45% 12.27% 10.90% 10.91% 11.55% 11.19% 8.85% 6.95%
Net Working Capital to Revenue		 14.50% 12.81% 11.19% 11.01% 10.73% 9.63% 9.39% 10.07% 9.94% 7.68% 5.92%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.81 $0.78 $0.02 $0.73 $0.90 $0.72 $0.35 $0.92 $1.09 $1.01 $0.82
Adjusted Weighted Average Basic Shares Outstanding		 53.18M 53.20M 53.18M 53.30M 53.34M 53.30M 53.49M 53.64M 53.69M 53.64M 53.81M
Adjusted Diluted Earnings per Share		 $0.80 $0.77 $0.02 $0.72 $0.89 $0.70 $0.35 $0.91 $1.07 $0.98 $0.81
Adjusted Weighted Average Diluted Shares Outstanding		 53.75M 53.76M 53.94M 54.32M 54.35M 54.22M 54.41M 54.65M 54.68M 54.58M 54.71M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 53.11M 53.14M 53.28M 53.33M 53.36M 53.44M 53.64M 53.67M 53.71M 53.75M 54.00M
Normalized Net Operating Profit after Tax (NOPAT)		 64 57 16 51 64 54 32 61 71 62 51
Normalized NOPAT Margin		 5.02% 4.31% 1.24% 3.60% 4.15% 3.55% 2.25% 3.93% 4.33% 3.58% 3.07%
Pre Tax Income Margin		 4.12% 3.42% 0.14% 3.89% 4.43% 3.50% 1.89% 4.46% 4.99% 4.37% 3.78%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 10.58% 9.61% 9.39% 10.23% 9.83% 10.13% 8.90% 8.31% 7.80% 7.11% 6.77%
Augmented Payout Ratio		 27.69% 14.11% 9.39% 10.23% 9.83% 10.13% 8.90% 8.31% 7.80% 7.11% 6.77%

Financials Breakdown Chart

Key Financial Trends

Primoris Services Corp (NASDAQ: PRIM) has shown notable financial progress and some cautious signals over the last four years through its quarterly financial statements ending Q1 2025.

Positive Trends:

  • Operating revenue has grown significantly from approximately $1.26 billion in Q1 2023 to about $1.65 billion in Q1 2025, indicating solid top-line growth.
  • Net income increased from just $1.3 million in Q1 2023 to $44.2 million in Q1 2025, reflecting improved profitability.
  • Gross profit increased, showing improvement from $99.7 million in Q1 2023 up to $170.7 million in Q1 2025, suggesting better cost management or higher margins.
  • Diluted earnings per share rose from $0.02 in Q1 2023 to $0.81 in Q1 2025, indicating enhanced shareholder value and earnings growth.
  • Net cash from continuing operating activities improved significantly, rising from negative $115 million in Q1 2023 to positive $66 million in Q1 2025, showing improved operational cash flow generation.
  • Total common equity increased steadily from about $1.11 billion in Q1 2023 to approximately $1.45 billion in Q1 2025, strengthening the company’s balance sheet.
  • Capital expenditure remains consistent with investment in Plant, Property & Equipment (net PP&E reached $507 million in Q1 2025), supporting future growth capacity.
  • The company maintained a stable dividend payout, consistent at $0.06 to $0.08 per share quarterly, signaling management’s confidence and shareholder returns.

Neutral Observations:

  • Accounts receivable fluctuated but generally increased over the years, reaching $756 million in Q1 2025, which may suggest rising sales but also the need to monitor collection efficiency.
  • Restructuring charges remain relatively modest each quarter but continued presence indicates ongoing efforts to optimize operations.
  • The company shows consistent depreciation expenses (around $21-29 million quarterly), reflecting steady asset utilization and aging.

Negative Considerations:

  • Despite revenue growth, operating costs and cost of revenue also rose considerably, pressuring margins; cost of revenue was $1.48 billion in Q1 2025 against revenue of $1.65 billion.
  • Total operating expenses increased year-over-year, with selling, general & administrative expenses over $99 million in Q1 2025, requiring careful expense control to sustain profitability.
  • The company’s long-term debt remains substantial at $544 million in Q1 2025, down from over $1 billion in mid-2023 but still significant, which could pressure interest expenses and leverage.
  • Interest and investment income consistently show a negative impact, with a net other expense reaching $8.1 million in Q1 2025, indicating financing costs are a drag on earnings.
  • Net change in cash & equivalents was negative $104 million in Q1 2025, reflecting cash outflows mainly from financing activities, potentially pointing to debt repayments or other uses of cash that could affect liquidity.

Overall, Primoris Services has demonstrated solid growth in revenue and profitability with improving cash flow generation. The company has invested in its asset base while managing to reduce some debt levels, although total liabilities remain high. Margins and operating costs require ongoing monitoring, and interest expenses continue to weigh on net income. The stable dividend policy supports income-focused investors, but prospective shareholders should balance growth prospects with the financial leverage and expense trends.

10/24/25 10:38 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Primoris Services' Financials

When does Primoris Services' fiscal year end?

According to the most recent income statement we have on file, Primoris Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Primoris Services' net income changed over the last 9 years?

Primoris Services' net income appears to be on an upward trend, with a most recent value of $180.89 million in 2024, rising from $37.15 million in 2015. The previous period was $126.15 million in 2023. See Primoris Services' forecast for analyst expectations on what’s next for the company.

What is Primoris Services' operating income?
Primoris Services' total operating income in 2024 was $317.45 million, based on the following breakdown:
  • Total Gross Profit: $703.25 million
  • Total Operating Expenses: $385.79 million
How has Primoris Services' revenue changed over the last 9 years?

Over the last 9 years, Primoris Services' total revenue changed from $1.93 billion in 2015 to $6.37 billion in 2024, a change of 230.0%.

How much debt does Primoris Services have?

Primoris Services' total liabilities were at $2.79 billion at the end of 2024, a 7.5% increase from 2023, and a 329.5% increase since 2015.

How much cash does Primoris Services have?

In the past 9 years, Primoris Services' cash and equivalents has ranged from $120.29 million in 2019 to $455.83 million in 2024, and is currently $455.83 million as of their latest financial filing in 2024.

How has Primoris Services' book value per share changed over the last 9 years?

Over the last 9 years, Primoris Services' book value per share changed from 9.35 in 2015 to 26.24 in 2024, a change of 180.6%.


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This page (NASDAQ:PRIM) was last updated on 10/24/2025 by MarketBeat.com Staff
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