Quanta Services (PWR) Financials

$744.55 -6.18 (-0.82%)

Closing price 03:59 PM Eastern

Extended Trading

$744.79 +0.24 (+0.03%)

As of 06:39 PM Eastern

Annual Income Statements for Quanta Services

This table shows Quanta 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	2025
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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	311	198	315	293	402	446	486	491	745	905	1,028
Consolidated Net Income / (Loss)	322	200	318	296	407	452	492	512	751	927	1,042
Net Income / (Loss) Continuing Operations	131	200	318	296	407	452	492	512	751	927	1,042
Total Pre-Tax Income	229	308	354	458	572	571	623	704	970	1,212	1,390
Total Operating Income	238	321	379	540	555	611	664	872	1,128	1,346	1,612
Total Gross Profit	924	1,014	1,242	1,480	1,600	1,661	1,953	2,529	2,937	3,511	4,275
Total Revenue	7,572	7,651	9,466	11,171	12,112	11,203	12,980	17,074	20,882	23,673	28,480
Operating Revenue	7,572	7,651	9,466	11,171	12,112	11,203	12,980	17,074	20,882	23,673	28,480
Total Cost of Revenue	6,649	6,638	8,225	9,691	10,512	9,542	11,027	14,545	17,945	20,162	24,205
Operating Cost of Revenue	6,649	6,638	8,225	9,691	10,512	9,542	11,027	14,545	17,945	20,162	24,205
Total Operating Expenses	686	693	863	940	1,045	1,049	1,290	1,657	1,809	2,164	2,664
Selling, General & Admin Expense	593	653	778	858	956	975	1,156	1,337	1,555	1,825	2,189
Amortization Expense	35	32	32	44	62	77	165	354	289	383	499
Other Operating Expenses / (Income)	-	-	-	0.00	-	-11	-44	-52	-42	-50	-56
Other Special Charges / (Income)	0.00	0.00	-5.17	-11	13	0.72	6.73	4.42	6.57	7.06	31
Total Other Income / (Expense), net	-8.83	-13	-25	-83	17	-40	-41	-168	-158	-134	-222
Interest Expense	8.02	15	21	37	67	45	69	124	187	203	261
Interest & Investment Income	1.49	2.42	0.83	1.56	0.93	2.45	3.19	2.61	11	32	16
Other Income / (Expense), net	-2.30	-0.66	-4.98	-47	83	2.54	25	-46	18	36	24
Income Tax Expense	97	107	36	162	165	119	131	192	219	285	348
Net Income / (Loss) Attributable to Noncontrolling Interest	11	1.72	3.25	2.66	4.77	6.36	6.03	20	6.00	22	14
Basic Earnings per Share	$1.59	$1.26	$2.02	$1.92	$2.76	$3.15	$3.45	$3.42	$5.13	$6.16	$6.91
Weighted Average Basic Shares Outstanding	195.11M	157.29M	156.12M	152.96M	145.71M	141.38M	140.82M	143.49M	145.22M	146.93M	148.79M
Diluted Earnings per Share	$1.59	$1.26	$2.00	$1.90	$2.73	$3.07	$3.34	$3.32	$5.00	$6.03	$6.80
Weighted Average Diluted Shares Outstanding	195.12M	157.29M	157.16M	154.23M	147.53M	145.25M	145.37M	147.99M	148.82M	150.06M	151.29M
Weighted Average Basic & Diluted Shares Outstanding	195.50M	157.40M	155.90M	152.80M	142.51M	138.37M	142.69M	144.00M	145.75M	148.20M	149.62M
Cash Dividends to Common per Share	-	-	$0.00	$0.04	$0.17	$0.21	$0.25	$0.29	$0.33	$0.37	$0.41

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	273	211	118	188	293	305	144	229	339	315	221
Consolidated Net Income / (Loss)	274	214	126	192	299	310	149	234	343	317	231
Net Income / (Loss) Continuing Operations	274	214	126	192	299	310	149	234	343	317	231
Total Pre-Tax Income	351	289	147	267	381	416	189	319	462	420	256
Total Operating Income	400	323	155	307	431	453	239	370	517	485	339
Total Gross Profit	847	792	623	811	1,013	1,063	834	1,008	1,216	1,217	1,107
Total Revenue	5,621	5,784	5,032	5,594	6,493	6,553	6,233	6,773	7,631	7,842	7,875
Operating Revenue	5,621	5,784	5,032	5,594	6,493	6,553	6,233	6,773	7,631	7,842	7,875
Total Cost of Revenue	4,773	4,991	4,408	4,783	5,481	5,490	5,399	5,765	6,415	6,625	6,767
Operating Cost of Revenue	4,773	4,991	4,408	4,783	5,481	5,490	5,399	5,765	6,415	6,625	6,767
Total Operating Expenses	447	470	468	504	581	611	595	637	699	732	769
Selling, General & Admin Expense	387	400	402	432	484	506	494	528	573	594	621
Amortization Expense	71	75	78	79	110	116	110	113	133	143	152
Other Operating Expenses / (Income)	-12	-11	-12	-8.59	-14	-16	-13	-14	-14	-15	-14
Other Special Charges / (Income)	0.80	5.77	0.62	1.12	1.12	4.20	4.36	10	6.80	9.84	9.91
Total Other Income / (Expense), net	-49	-33	-8.17	-40	-50	-36	-50	-52	-55	-65	-82
Interest Expense	48	50	41	45	60	56	54	60	72	76	73
Interest & Investment Income	1.99	5.87	8.02	3.56	7.24	14	3.84	3.78	3.72	4.36	2.91
Other Income / (Expense), net	-3.74	11	25	1.62	2.99	6.35	0.24	4.14	13	6.05	-12
Income Tax Expense	78	76	21	75	82	106	40	85	120	103	25
Net Income / (Loss) Attributable to Noncontrolling Interest	0.69	2.70	7.73	3.73	5.84	5.17	4.71	4.27	3.42	1.14	11
Basic Earnings per Share	$1.88	$1.45	$0.81	$1.28	$1.99	$2.08	$0.97	$1.54	$2.28	$2.12	$1.47
Weighted Average Basic Shares Outstanding	145.46M	145.22M	145.94M	146.58M	147.39M	146.93M	148.27M	148.45M	149.04M	148.79M	149.78M
Diluted Earnings per Share	$1.83	$1.41	$0.79	$1.26	$1.95	$2.03	$0.96	$1.52	$2.24	$2.08	$1.45
Weighted Average Diluted Shares Outstanding	148.79M	148.82M	149.35M	149.79M	150.56M	150.06M	150.96M	150.92M	151.50M	151.29M	152.09M
Weighted Average Basic & Diluted Shares Outstanding	145.28M	145.75M	146.39M	147.33M	147.61M	148.20M	148.20M	149.01M	149.12M	149.62M	150.06M
Cash Dividends to Common per Share	$0.08	-	$0.09	$0.09	-	-	$0.10	$0.10	-	-	$0.11

This table details how cash moves in and out of Quanta 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	2025
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	12/31/2025
Net Change in Cash & Equivalents	-708	-14	28	-60	86	17	45	201	862	-549	-303
Net Cash From Operating Activities	817	391	372	359	527	1,116	582	1,130	1,576	2,081	2,230
Net Cash From Continuing Operating Activities	817	391	372	359	527	1,122	582	1,130	1,576	2,081	2,230
Net Income / (Loss) Continuing Operations	322	200	318	296	407	452	492	512	751	927	1,042
Consolidated Net Income / (Loss)	322	200	318	296	407	452	492	512	751	927	1,042
Depreciation Expense	163	170	184	203	218	225	256	291	325	359	412
Amortization Expense	36	33	34	45	64	82	165	354	289	383	499
Non-Cash Adjustments To Reconcile Net Income	93	51	110	154	2.39	95	-237	-133	-176	406	-36
Changes in Operating Assets and Liabilities, net	203	-64	-274	-339	-165	267	-93	107	388	5.32	313
Net Cash From Investing Activities	-297	-264	-572	-403	-618	-499	-2,899	-617	-990	-2,294	-3,831
Net Cash From Continuing Investing Activities	-297	-264	-572	-403	-618	-499	-2,899	-617	-990	-2,294	-3,831
Purchase of Property, Plant & Equipment	-210	-213	-245	-294	-262	-260	-386	-428	-435	-604	-713
Acquisitions	-113	-69	-361	-109	-388	-293	-2,452	-195	-652	-1,746	-3,052
Purchase of Investments	-	-13	-57	-37	-47	-15	-139	-78	-7.54	-82	-149
Sale of Property, Plant & Equipment	26	22	23	32	31	35	50	64	69	78	52
Sale and/or Maturity of Investments	-	7.59	66	4.71	47	14	29	21	42	29	17
Other Investing Activities, net	-	0.55	1.18	0.71	1.96	0.54	-0.87	-1.15	-7.31	30	14
Net Cash From Financing Activities	-1,228	-134	228	-17	178	-601	2,361	-311	269	-306	1,275
Net Cash From Continuing Financing Activities	-1,228	-134	228	-17	178	-601	2,361	-311	269	-306	1,275
Repayment of Debt	-2,942	-2,870	-2,634	-4,080	-5,936	-4,207	-4,277	-9,360	-17,738	-21,219	-52,838
Repurchase of Common Equity	-1,606	0.00	-50	-443	-20	-247	-67	-128	-0.35	0.00	-135
Payment of Dividends	-19	-0.76	-2.00	-4.04	-26	-34	-34	-41	-48	-54	-60
Issuance of Debt	3,349	2,744	2,932	4,526	6,176	3,974	6,803	9,300	18,179	21,123	54,523
Other Financing Activities, net	-9.80	-7.94	-19	-15	-16	-87	-65	-83	-125	-156	-215
Other Net Changes in Cash	-	-	-	-	-	-	0.43	-0.72	7.03	-30	23

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-58	985	-762	-12	247	-23	-223	-10	101	-171	-73
Net Cash From Operating Activities	407	1,004	238	391	740	712	243	296	563	1,128	392
Net Cash From Continuing Operating Activities	407	1,004	238	391	740	710	243	296	563	1,128	392
Net Income / (Loss) Continuing Operations	274	214	126	192	299	310	149	234	343	317	231
Consolidated Net Income / (Loss)	274	214	126	192	299	310	149	234	343	317	231
Depreciation Expense	81	85	89	84	90	97	98	99	104	111	113
Amortization Expense	71	75	78	79	110	116	110	113	133	143	152
Non-Cash Adjustments To Reconcile Net Income	-211	237	159	83	29	135	-10	-13	-174	164	-32
Changes in Operating Assets and Liabilities, net	191	393	-213	-46	211	52	-103	-137	158	394	-73
Net Cash From Investing Activities	-155	-267	-387	-203	-1,538	-167	-521	-460	-1,305	-1,545	-221
Net Cash From Continuing Investing Activities	-155	-267	-387	-203	-1,538	-167	-521	-460	-1,305	-1,545	-221
Purchase of Property, Plant & Equipment	-140	-109	-83	-161	-212	-147	-133	-140	-142	-297	-220
Acquisitions	-20	-179	-384	-67	-1,274	-21	-394	-192	-1,197	-1,269	-23
Sale of Property, Plant & Equipment	13	21	26	-	12	10	7.32	15	17	12	13
Other Investing Activities, net	-1.28	0.73	28	-32	8.81	-0.04	-0.91	5.50	1.29	7.76	8.85
Net Cash From Financing Activities	-305	237	-603	-203	1,034	-533	52	134	845	244	-248
Net Cash From Continuing Financing Activities	-305	237	-603	-203	1,034	-533	52	134	845	244	-248
Repayment of Debt	-4,745	-3,583	-3,277	-4,339	-5,120	-8,483	-5,230	-10,152	-21,534	-15,922	-17,034
Repurchase of Common Equity	-	-	0.00	-	-	-	-119	-16	-	-	0.00
Payment of Dividends	-12	-12	-14	-13	-14	-13	-15	-15	-15	-15	-17
Issuance of Debt	4,454	3,839	2,764	4,151	6,230	7,978	5,488	10,421	22,418	16,195	16,947
Other Financing Activities, net	-2.65	-6.38	-76	-2.09	-63	-15	-72	-104	-25	-15	-144
Other Net Changes in Cash	-4.82	11	-9.96	-	11	-35	2.29	19	-2.10	3.30	5.14

This table presents Quanta 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	2025
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	12/31/2025
Total Assets	5,214	5,354	6,480	7,076	8,332	8,398	12,855	13,464	16,237	18,684	24,927
Total Current Assets	2,278	2,289	2,870	3,326	3,831	3,588	4,733	5,536	7,677	7,851	9,903
Cash & Equivalents	129	112	138	79	165	185	229	429	1,290	742	440
Accounts Receivable	1,939	1,973	1,985	2,355	2,748	2,716	3,400	3,675	4,411	5,171	6,847
Inventories, net	75	89	81	108	56	50	85	103	176	260	370
Prepaid Expenses	135	115	168	208	261	183	215	250	387	469	724
Other Current Assets	-	-	497	577	601	454	803	1,080	1,413	1,209	1,522
Plant, Property, & Equipment, net	1,102	1,174	1,289	1,276	0.00	1,561	1,920	2,030	2,337	2,700	3,455
Total Noncurrent Assets	1,834	1,891	2,322	2,474	4,501	3,249	6,203	5,898	6,223	8,133	11,568
Goodwill	1,553	1,603	1,869	1,900	2,023	2,121	3,529	3,587	4,046	5,316	7,317
Intangible Assets	205	187	263	280	414	436	1,801	1,459	1,362	1,861	2,906
Other Noncurrent Operating Assets	76	101	190	294	2,064	693	873	852	815	956	1,345
Total Liabilities & Shareholders' Equity	5,214	5,354	6,480	7,076	8,332	8,398	12,855	13,464	16,237	18,684	24,927
Total Liabilities	2,126	2,011	2,685	3,470	4,278	4,049	7,738	8,066	9,954	11,354	15,899
Total Current Liabilities	1,204	1,205	1,492	1,806	2,263	2,139	3,165	3,406	5,213	6,029	8,716
Short-Term Debt	7.07	7.56	1.22	66	75	15	29	37	535	63	764
Accounts Payable	782	923	1,057	1,315	1,490	1,510	2,255	2,153	3,061	3,722	4,579
Current Deferred Revenue	399	275	433	-	-	-	803	1,142	1,539	2,149	3,258
Other Current Liabilities	-	-	-	426	699	614	78	74	78	94	114
Total Noncurrent Liabilities	922	806	1,192	1,664	2,015	1,911	4,573	4,659	4,741	5,326	7,183
Long-Term Debt	475	354	671	1,041	1,292	1,174	3,724	3,692	3,664	4,100	5,231
Noncurrent Deferred & Payable Income Tax Liabilities	186	193	179	219	215	166	191	228	254	353	503
Other Noncurrent Operating Liabilities	260	260	342	405	508	570	658	739	823	873	1,449
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,088	3,343	3,796	3,605	4,054	4,349	5,117	5,399	6,283	7,330	9,028
Total Preferred & Common Equity	3,085	3,339	3,792	3,604	4,050	4,344	5,112	5,383	6,272	7,318	8,938
Total Common Equity	3,085	3,339	3,792	3,604	4,050	4,344	5,112	5,383	6,272	7,318	8,938
Common Stock	3,498	1,749	1,889	1,967	2,025	2,170	2,615	2,719	3,003	3,444	4,279
Retained Earnings	1,678	1,876	2,191	2,477	2,854	3,265	3,715	4,163	4,858	5,707	6,674
Treasury Stock	-1,795	-14	-85	-554	-587	-858	-980	-1,188	-1,306	-1,461	-1,707
Accumulated Other Comprehensive Income / (Loss)	-295	-272	-203	-286	-242	-233	-238	-311	-283	-373	-307
Noncontrolling Interest	2.32	3.28	4.06	1.29	3.54	4.79	4.62	15	11	12	90

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	14,741	15,188	16,237	15,542	15,929	18,866	18,684	19,135	19,891	22,744	25,747
Total Current Assets	6,322	6,735	7,677	6,583	6,888	8,046	7,851	7,830	8,178	9,469	10,653
Cash & Equivalents	362	305	1,290	531	518	764	742	521	509	610	365
Accounts Receivable	4,075	4,332	4,411	4,095	4,431	5,150	5,171	5,290	5,386	6,356	7,598
Inventories, net	157	164	176	224	235	276	260	263	287	334	447
Prepaid Expenses	371	349	387	458	476	527	469	497	648	605	633
Other Current Assets	1,357	1,585	1,413	1,275	1,228	1,329	1,209	1,259	1,347	1,564	1,610
Plant, Property, & Equipment, net	2,234	2,290	2,337	2,427	2,464	2,649	2,700	2,800	2,885	2,980	3,513
Total Noncurrent Assets	6,185	6,163	6,223	6,532	6,578	8,171	8,133	8,505	8,829	10,295	11,581
Goodwill	3,885	3,900	4,046	4,284	4,314	5,282	5,316	5,560	5,674	6,701	7,405
Intangible Assets	1,424	1,362	1,362	1,408	1,387	1,967	1,861	1,959	1,925	2,325	2,724
Other Noncurrent Operating Assets	875	900	815	840	877	922	956	986	1,230	1,269	1,451
Total Liabilities & Shareholders' Equity	14,741	15,188	16,237	15,542	15,929	18,866	18,684	19,135	19,891	22,744	25,747
Total Liabilities	9,012	9,193	9,954	9,175	9,348	11,777	11,354	11,662	12,022	14,340	16,604
Total Current Liabilities	3,764	4,192	5,213	4,831	5,316	6,525	6,029	5,986	5,977	7,044	9,384
Short-Term Debt	41	45	535	547	549	556	63	74	87	97	690
Accounts Payable	2,517	2,969	3,061	2,758	3,199	3,999	3,722	3,668	3,651	4,394	4,738
Current Deferred Revenue	1,129	1,101	1,539	1,443	1,483	1,875	2,149	2,152	2,139	2,445	3,840
Other Current Liabilities	77	78	78	84	85	95	94	93	100	108	116
Total Noncurrent Liabilities	5,248	5,000	4,741	4,344	4,032	5,252	5,326	5,677	6,045	7,296	7,220
Long-Term Debt	4,217	3,937	3,664	3,174	2,974	4,132	4,100	4,360	4,654	5,532	5,202
Noncurrent Deferred & Payable Income Tax Liabilities	255	264	254	298	312	337	353	375	366	452	515
Other Noncurrent Operating Liabilities	777	799	823	872	747	783	873	941	1,025	1,311	1,503
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,729	5,996	6,283	6,367	6,581	7,089	7,330	7,472	7,869	8,404	9,143
Total Preferred & Common Equity	5,721	5,987	6,272	6,357	6,568	7,071	7,318	7,457	7,858	8,396	9,045
Total Common Equity	5,721	5,987	6,272	6,357	6,568	7,071	7,318	7,457	7,858	8,396	9,045
Common Stock	2,904	2,944	3,003	3,090	3,136	3,405	3,444	3,644	3,774	4,039	4,337
Retained Earnings	4,400	4,661	4,858	4,963	5,138	5,417	5,707	5,836	6,051	6,375	6,878
Treasury Stock	-1,297	-1,300	-1,306	-1,383	-1,384	-1,447	-1,461	-1,652	-1,668	-1,693	-1,851
Accumulated Other Comprehensive Income / (Loss)	-286	-318	-283	-314	-323	-305	-373	-372	-299	-326	-319
Noncontrolling Interest	8.05	8.54	11	11	13	18	12	16	11	8.01	98

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.26%	1.04%	23.72%	18.01%	8.42%	-7.51%	15.87%	31.54%	22.30%	13.36%	20.31%
EBITDA Growth	-28.17%	20.56%	12.95%	25.31%	24.23%	0.07%	20.47%	32.52%	19.70%	20.73%	19.81%
EBIT Growth	-45.04%	36.11%	16.78%	31.88%	29.45%	-3.81%	12.17%	19.90%	38.81%	20.62%	18.30%
NOPAT Growth	-52.89%	53.37%	63.07%	2.53%	12.88%	22.61%	8.36%	20.96%	37.72%	18.00%	17.30%
Net Income Growth	2.14%	-37.82%	59.03%	-6.98%	37.43%	11.10%	8.86%	4.00%	46.72%	23.52%	12.36%
EPS Growth	17.78%	-20.75%	58.73%	-5.00%	43.68%	12.45%	8.79%	-0.60%	50.60%	20.60%	12.77%
Operating Cash Flow Growth	229.69%	-52.16%	-4.83%	-3.52%	46.76%	111.94%	-47.81%	94.08%	39.43%	32.06%	7.15%
Free Cash Flow Firm Growth	85.11%	-84.22%	-635.30%	111.53%	-599.67%	268.90%	-815.49%	120.81%	-33.68%	-238.50%	-396.87%
Invested Capital Growth	-8.80%	3.90%	20.54%	7.01%	13.45%	1.85%	61.42%	0.68%	5.65%	16.95%	35.66%
Revenue Q/Q Growth	-1.32%	2.74%	4.13%	6.01%	0.00%	-1.76%	8.45%	2.97%	7.01%	3.36%	4.74%
EBITDA Q/Q Growth	-15.47%	28.29%	-8.98%	14.59%	4.31%	2.30%	4.36%	7.79%	4.56%	9.17%	2.95%
EBIT Q/Q Growth	-26.15%	55.73%	-14.80%	21.65%	3.98%	2.87%	-4.81%	19.43%	4.73%	10.03%	1.99%
NOPAT Q/Q Growth	-30.33%	80.79%	11.08%	-16.70%	14.20%	13.00%	-9.42%	9.90%	6.77%	10.65%	2.42%
Net Income Q/Q Growth	-19.07%	87.26%	9.35%	-16.33%	18.15%	12.91%	-11.78%	15.29%	5.55%	11.64%	0.61%
EPS Q/Q Growth	-17.19%	82.61%	9.89%	-15.56%	18.70%	13.28%	-12.11%	13.70%	6.61%	11.46%	0.74%
Operating Cash Flow Q/Q Growth	-2.96%	-10.18%	3.21%	-14.33%	1,326.00%	-23.91%	-4.30%	41.80%	36.38%	-12.29%	22.90%
Free Cash Flow Firm Q/Q Growth	-51.70%	-38.21%	11.19%	-66.04%	66.54%	-61.10%	-1,591.43%	123.61%	658.45%	-28.95%	-113.37%
Invested Capital Q/Q Growth	-5.36%	-1.55%	-1.65%	-1.14%	-8.04%	3.94%	46.66%	-2.30%	-4.97%	-2.39%	8.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.20%	13.25%	13.12%	13.25%	13.21%	14.83%	15.05%	14.81%	14.07%	14.83%	15.01%
EBITDA Margin	5.73%	6.84%	6.25%	6.63%	7.60%	8.22%	8.55%	8.61%	8.43%	8.98%	8.94%
Operating Margin	3.14%	4.19%	4.00%	4.84%	4.58%	5.46%	5.11%	5.11%	5.40%	5.69%	5.66%
EBIT Margin	3.11%	4.18%	3.95%	4.41%	5.27%	5.48%	5.31%	4.84%	5.49%	5.84%	5.74%
Profit (Net Income) Margin	4.25%	2.62%	3.36%	2.65%	3.36%	4.03%	3.79%	3.00%	3.59%	3.92%	3.66%
Tax Burden Percent	140.73%	65.03%	89.96%	64.68%	71.09%	79.10%	78.98%	72.69%	77.39%	76.51%	74.98%
Interest Burden Percent	97.22%	96.11%	94.62%	92.82%	89.67%	93.07%	90.46%	85.25%	84.64%	87.68%	84.97%
Effective Tax Rate	42.62%	34.86%	10.04%	35.32%	28.91%	20.90%	21.02%	27.31%	22.61%	23.49%	25.02%
Return on Invested Capital (ROIC)	3.76%	5.93%	8.61%	7.80%	7.98%	9.12%	7.49%	7.31%	9.76%	10.33%	9.54%
ROIC Less NNEP Spread (ROIC-NNEP)	-97.55%	3.05%	2.84%	0.95%	9.09%	6.25%	6.07%	3.73%	5.82%	7.08%	5.83%
Return on Net Nonoperating Assets (RNNOA)	4.69%	0.29%	0.31%	0.20%	2.65%	1.64%	2.91%	2.42%	3.09%	3.29%	3.20%
Return on Equity (ROE)	8.45%	6.22%	8.92%	8.00%	10.62%	10.76%	10.39%	9.73%	12.85%	13.62%	12.74%
Cash Return on Invested Capital (CROIC)	12.96%	2.10%	-10.02%	1.02%	-4.63%	7.28%	-39.50%	6.63%	4.26%	-5.30%	-20.72%
Operating Return on Assets (OROA)	4.10%	6.06%	6.32%	7.27%	8.28%	7.34%	6.48%	6.27%	7.72%	7.92%	7.50%
Return on Assets (ROA)	5.61%	3.79%	5.38%	4.37%	5.28%	5.40%	4.63%	3.89%	5.05%	5.31%	4.78%
Return on Common Equity (ROCE)	8.44%	6.22%	8.91%	7.99%	10.62%	10.75%	10.38%	9.71%	12.82%	13.60%	12.66%
Return on Equity Simple (ROE_SIMPLE)	10.43%	5.99%	8.39%	8.21%	10.04%	10.40%	9.62%	9.50%	11.97%	12.67%	0.00%
Net Operating Profit after Tax (NOPAT)	136	209	341	349	394	484	524	634	873	1,030	1,208
NOPAT Margin	1.80%	2.73%	3.60%	3.13%	3.26%	4.32%	4.04%	3.71%	4.18%	4.35%	4.24%
Net Nonoperating Expense Percent (NNEP)	101.31%	2.88%	5.77%	6.84%	-1.11%	2.87%	1.42%	3.58%	3.94%	3.25%	3.71%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.94%	8.33%	8.96%	8.04%
Cost of Revenue to Revenue	87.80%	86.75%	86.88%	86.75%	86.79%	85.17%	84.95%	85.19%	85.94%	85.17%	84.99%
SG&A Expenses to Revenue	7.83%	8.54%	8.22%	7.68%	7.89%	8.70%	8.91%	7.83%	7.45%	7.71%	7.69%
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	9.06%	9.06%	9.12%	8.41%	8.63%	9.37%	9.94%	9.71%	8.66%	9.14%	9.35%
Earnings before Interest and Taxes (EBIT)	235	320	374	493	638	614	689	826	1,146	1,382	1,635
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	434	523	591	741	920	921	1,110	1,470	1,760	2,125	2,546
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.03	1.55	1.57	1.20	1.41	2.29	3.18	3.77	4.99	6.37	7.04
Price to Tangible Book Value (P/TBV)	2.39	3.34	3.59	3.05	3.55	5.56	0.00	60.05	36.24	331.35	0.00
Price to Revenue (P/Rev)	0.42	0.68	0.63	0.39	0.47	0.89	1.25	1.19	1.50	1.97	2.21
Price to Earnings (P/E)	10.22	26.10	18.94	14.79	14.24	22.28	33.45	41.33	42.05	51.54	61.18
Dividend Yield	0.00%	0.00%	0.00%	0.14%	0.42%	0.29%	0.21%	0.20%	0.15%	0.11%	0.09%
Earnings Yield	9.78%	3.83%	5.28%	6.76%	7.02%	4.49%	2.99%	2.42%	2.38%	1.94%	1.63%
Enterprise Value to Invested Capital (EV/IC)	1.02	1.51	1.50	1.16	1.32	2.04	2.29	2.71	3.72	4.66	4.70
Enterprise Value to Revenue (EV/Rev)	0.47	0.71	0.69	0.48	0.57	0.98	1.52	1.38	1.64	2.12	2.41
Enterprise Value to EBITDA (EV/EBITDA)	8.14	10.37	11.00	7.25	7.53	11.88	17.83	16.06	19.45	23.57	26.93
Enterprise Value to EBIT (EV/EBIT)	15.03	16.96	17.39	10.89	10.86	17.82	28.73	28.61	29.87	36.22	41.93
Enterprise Value to NOPAT (EV/NOPAT)	25.94	25.98	19.08	15.36	17.57	22.62	37.75	37.26	39.21	48.61	56.74
Enterprise Value to Operating Cash Flow (EV/OCF)	4.33	13.90	17.48	14.96	13.16	9.80	33.97	20.90	21.72	24.06	30.75
Enterprise Value to Free Cash Flow (EV/FCFF)	7.53	73.24	0.00	117.27	0.00	28.32	0.00	41.07	89.75	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.11	0.18	0.31	0.34	0.27	0.73	0.69	0.67	0.57	0.66
Long-Term Debt to Equity	0.15	0.11	0.18	0.29	0.32	0.27	0.73	0.68	0.58	0.56	0.58
Financial Leverage	-0.05	0.10	0.11	0.21	0.29	0.26	0.48	0.65	0.53	0.46	0.55
Leverage Ratio	1.51	1.64	1.66	1.83	2.01	1.99	2.25	2.50	2.54	2.57	2.67
Compound Leverage Factor	1.46	1.58	1.57	1.70	1.80	1.85	2.03	2.13	2.15	2.25	2.27
Debt to Total Capital	13.51%	9.75%	15.04%	23.48%	25.22%	21.47%	42.32%	40.86%	40.06%	36.22%	39.91%
Short-Term Debt to Total Capital	0.20%	0.20%	0.03%	1.39%	1.38%	0.27%	0.33%	0.41%	5.11%	0.55%	5.08%
Long-Term Debt to Total Capital	13.31%	9.55%	15.01%	22.08%	23.84%	21.20%	41.99%	40.45%	34.95%	35.67%	34.82%
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	0.07%	0.09%	0.09%	0.03%	0.07%	0.09%	0.05%	0.17%	0.11%	0.10%	0.60%
Common Equity to Total Capital	86.42%	90.16%	84.87%	76.49%	74.72%	78.44%	57.63%	58.97%	59.84%	63.68%	59.50%
Debt to EBITDA	1.11	0.69	1.14	1.49	1.49	1.29	3.38	2.54	2.39	1.96	2.36
Net Debt to EBITDA	0.81	0.48	0.90	1.39	1.31	1.09	3.18	2.25	1.65	1.61	2.18
Long-Term Debt to EBITDA	1.09	0.68	1.13	1.40	1.40	1.28	3.36	2.51	2.08	1.93	2.05
Debt to NOPAT	3.54	1.73	1.97	3.17	3.47	2.46	7.16	5.88	4.81	4.04	4.96
Net Debt to NOPAT	2.60	1.19	1.57	2.94	3.05	2.08	6.73	5.21	3.33	3.32	4.60
Long-Term Debt to NOPAT	3.49	1.69	1.97	2.98	3.28	2.43	7.11	5.83	4.20	3.98	4.33
Altman Z-Score	3.20	3.90	3.71	3.31	3.22	3.80	3.00	3.60	4.01	4.52	4.17
Noncontrolling Interest Sharing Ratio	0.18%	0.09%	0.10%	0.07%	0.06%	0.10%	0.10%	0.19%	0.23%	0.17%	0.62%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.89	1.90	1.92	1.84	1.69	1.68	1.50	1.63	1.47	1.30	1.14
Quick Ratio	1.72	1.73	1.42	1.35	1.29	1.36	1.15	1.20	1.09	0.98	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	470	74	-397	46	-229	386	-2,764	575	381	-528	-2,625
Operating Cash Flow to CapEx	444.41%	205.03%	168.05%	137.04%	228.32%	496.74%	173.26%	310.95%	431.23%	395.34%	337.56%
Free Cash Flow to Firm to Interest Expense	58.54	4.98	-18.95	1.24	-3.42	8.58	-40.12	4.62	2.04	-2.61	-10.04
Operating Cash Flow to Interest Expense	101.79	26.25	17.75	9.71	7.87	24.79	8.45	9.09	8.43	10.27	8.53
Operating Cash Flow Less CapEx to Interest Expense	78.89	13.45	7.19	2.62	4.42	19.80	3.57	6.17	6.48	7.67	6.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.32	1.45	1.60	1.65	1.57	1.34	1.22	1.30	1.41	1.36	1.31
Accounts Receivable Turnover	3.76	3.91	4.78	5.15	4.75	4.10	4.24	4.83	5.17	4.94	4.74
Inventory Turnover	116.43	81.03	97.08	102.76	128.62	179.71	163.20	154.79	128.67	92.52	76.77
Fixed Asset Turnover	6.88	6.72	7.69	8.71	0.00	0.00	7.46	8.64	9.56	9.40	9.25
Accounts Payable Turnover	8.27	7.79	8.31	8.17	7.50	6.36	5.86	6.60	6.88	5.94	5.83
Days Sales Outstanding (DSO)	97.14	93.32	76.31	70.90	76.88	89.01	86.00	75.62	70.66	73.87	77.01
Days Inventory Outstanding (DIO)	3.13	4.50	3.76	3.55	2.84	2.03	2.24	2.36	2.84	3.95	4.75
Days Payable Outstanding (DPO)	44.12	46.88	43.94	44.67	48.68	57.37	62.30	55.31	53.03	61.40	62.59
Cash Conversion Cycle (CCC)	56.15	50.94	36.13	29.78	31.04	33.68	25.93	22.67	20.47	16.41	19.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,457	3,592	4,329	4,633	5,256	5,353	8,641	8,700	9,192	10,750	14,583
Invested Capital Turnover	2.09	2.17	2.39	2.49	2.45	2.11	1.86	1.97	2.33	2.37	2.25
Increase / (Decrease) in Invested Capital	-333	135	738	304	623	97	3,288	59	492	1,558	3,833
Enterprise Value (EV)	3,535	5,430	6,502	5,368	6,932	10,939	19,782	23,618	34,231	50,070	68,564
Market Capitalization	3,179	5,178	5,965	4,339	5,726	9,930	16,253	20,301	31,311	46,638	62,919
Book Value per Share	$19.31	$22.09	$24.43	$24.60	$28.46	$31.28	$35.88	$37.67	$43.17	$49.57	$59.94
Tangible Book Value per Share	$8.31	$10.25	$10.69	$9.72	$11.34	$12.87	($1.53)	$2.37	$5.95	$0.95	($8.62)
Total Capital	3,570	3,704	4,468	4,712	5,421	5,538	8,871	9,129	10,482	11,492	15,023
Total Debt	482	361	672	1,106	1,367	1,189	3,754	3,730	4,199	4,162	5,995
Total Long-Term Debt	475	354	671	1,041	1,292	1,174	3,724	3,692	3,664	4,100	5,231
Net Debt	354	249	534	1,027	1,202	1,004	3,525	3,301	2,908	3,420	5,555
Capital Expenditures (CapEx)	184	191	221	262	231	225	336	364	365	526	661
Debt-free, Cash-free Net Working Capital (DFCFNWC)	952	979	1,241	1,507	1,478	1,280	1,368	1,739	1,709	1,143	1,512
Debt-free Net Working Capital (DFNWC)	1,081	1,091	1,379	1,586	1,643	1,465	1,597	2,167	2,999	1,885	1,951
Net Working Capital (NWC)	1,074	1,084	1,378	1,520	1,568	1,450	1,568	2,130	2,464	1,823	1,187
Net Nonoperating Expense (NNE)	-186	8.89	23	53	-12	32	32	122	122	103	166
Net Nonoperating Obligations (NNO)	369	249	534	1,027	1,202	1,004	3,525	3,301	2,908	3,420	5,555
Total Depreciation and Amortization (D&A)	199	203	217	248	282	307	421	645	614	742	910
Debt-free, Cash-free Net Working Capital to Revenue	12.57%	12.79%	13.11%	13.49%	12.20%	11.43%	10.54%	10.18%	8.18%	4.83%	5.31%
Debt-free Net Working Capital to Revenue	14.27%	14.26%	14.57%	14.19%	13.56%	13.07%	12.30%	12.69%	14.36%	7.96%	6.85%
Net Working Capital to Revenue	14.18%	14.16%	14.55%	13.61%	12.95%	12.94%	12.08%	12.47%	11.80%	7.70%	4.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.59	$1.26	$2.02	$1.92	$2.76	$3.15	$3.45	$3.42	$5.13	$6.16	$6.91
Adjusted Weighted Average Basic Shares Outstanding	195.11M	157.29M	156.12M	152.96M	145.71M	141.38M	140.82M	143.49M	145.22M	146.93M	148.79M
Adjusted Diluted Earnings per Share	$1.59	$1.26	$2.00	$1.90	$2.73	$3.07	$3.34	$3.32	$5.00	$6.03	$6.80
Adjusted Weighted Average Diluted Shares Outstanding	195.12M	157.29M	157.16M	154.23M	147.53M	145.25M	145.37M	147.99M	148.82M	150.06M	151.29M
Adjusted Basic & Diluted Earnings per Share	$1.59	$1.26	$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	159.78M	151.23M	154.23M	141.39M	142.51M	138.37M	142.69M	144.00M	145.75M	148.20M	149.62M
Normalized Net Operating Profit after Tax (NOPAT)	170	214	388	374	414	491	534	648	878	1,036	1,232
Normalized NOPAT Margin	2.24%	2.80%	4.10%	3.35%	3.42%	4.38%	4.11%	3.79%	4.20%	4.37%	4.33%
Pre Tax Income Margin	3.02%	4.02%	3.74%	4.10%	4.72%	5.10%	4.80%	4.12%	4.64%	5.12%	4.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	29.31	21.51	17.85	13.35	9.54	13.64	9.99	6.64	6.13	6.82	6.25
NOPAT to Interest Expense	16.98	14.04	16.27	9.46	5.90	10.74	7.61	5.10	4.67	5.08	4.62
EBIT Less CapEx to Interest Expense	6.41	8.70	7.28	6.26	6.09	8.65	5.12	3.72	4.18	4.22	3.73
NOPAT Less CapEx to Interest Expense	-5.92	1.24	5.70	2.37	2.45	5.75	2.73	2.17	2.72	2.49	2.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	5.88%	0.38%	0.63%	1.36%	6.33%	7.59%	6.92%	8.02%	6.36%	5.84%	5.80%
Augmented Payout Ratio	505.02%	0.38%	16.34%	151.07%	11.27%	62.29%	20.47%	33.00%	6.41%	5.84%	18.71%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	149,619,428.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	149,619,428.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.03%	30.96%	13.62%	10.81%	15.52%	13.30%	23.88%	21.07%	17.53%	19.66%	26.33%
EBITDA Growth	36.34%	18.41%	21.84%	9.04%	15.49%	36.17%	28.95%	24.30%	20.97%	10.86%	32.53%
EBIT Growth	51.17%	18.42%	34.78%	9.25%	9.47%	37.85%	32.78%	21.23%	22.20%	6.95%	36.52%
NOPAT Growth	59.48%	29.47%	2.01%	11.95%	8.36%	41.75%	41.71%	22.95%	13.45%	8.44%	62.17%
Net Income Growth	74.98%	22.67%	30.03%	15.19%	9.32%	45.26%	18.14%	21.70%	14.65%	2.03%	55.36%
EPS Growth	72.64%	28.18%	23.44%	12.50%	6.56%	43.97%	21.52%	20.63%	14.87%	2.46%	51.04%
Operating Cash Flow Growth	18.42%	72.10%	519.53%	207.12%	81.98%	-29.05%	2.20%	-24.43%	-23.84%	58.36%	61.08%
Free Cash Flow Firm Growth	83.83%	-302.69%	100.91%	148.11%	-120.14%	-381.59%	-32,329.98%	-963.30%	-102.12%	-183.97%	-81.61%
Invested Capital Growth	8.62%	5.65%	1.36%	-0.41%	13.86%	16.95%	19.13%	26.23%	21.88%	35.66%	28.85%
Revenue Q/Q Growth	11.33%	2.90%	-13.00%	11.18%	16.07%	0.93%	-4.88%	8.66%	12.67%	2.76%	0.42%
EBITDA Q/Q Growth	27.01%	-10.22%	-29.73%	36.08%	34.52%	5.86%	-33.46%	31.17%	30.92%	-2.99%	-20.45%
EBIT Q/Q Growth	40.29%	-16.02%	-45.88%	71.36%	40.57%	5.74%	-47.87%	56.45%	41.69%	-7.45%	-33.46%
NOPAT Q/Q Growth	58.20%	-23.69%	-44.09%	65.85%	53.13%	-0.17%	-44.11%	43.90%	41.29%	-4.58%	-16.41%
Net Income Q/Q Growth	64.20%	-21.90%	-40.97%	52.18%	55.83%	3.77%	-51.99%	56.76%	46.81%	-7.66%	-26.90%
EPS Q/Q Growth	63.39%	-22.95%	-43.97%	59.49%	54.76%	4.10%	-52.71%	58.33%	47.37%	-7.14%	-30.29%
Operating Cash Flow Q/Q Growth	219.11%	146.82%	-76.29%	64.45%	89.09%	-3.77%	-65.84%	21.59%	90.56%	100.10%	-65.26%
Free Cash Flow Firm Q/Q Growth	15.66%	44.33%	102.01%	5,005.64%	-485.93%	-21.78%	-34.32%	-36.76%	9.65%	-71.09%	14.10%
Invested Capital Q/Q Growth	0.49%	-4.97%	3.97%	0.30%	14.89%	-2.39%	5.91%	6.27%	10.93%	8.64%	0.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.07%	13.70%	12.39%	14.50%	15.59%	16.23%	13.38%	14.88%	15.94%	15.52%	14.06%
EBITDA Margin	9.78%	8.53%	6.89%	8.43%	9.77%	10.25%	7.17%	8.66%	10.06%	9.50%	7.52%
Operating Margin	7.12%	5.58%	3.09%	5.49%	6.64%	6.91%	3.84%	5.47%	6.78%	6.18%	4.30%
EBIT Margin	7.06%	5.76%	3.58%	5.52%	6.69%	7.01%	3.84%	5.53%	6.95%	6.26%	4.15%
Profit (Net Income) Margin	4.87%	3.69%	2.51%	3.43%	4.61%	4.73%	2.39%	3.45%	4.49%	4.04%	2.94%
Tax Burden Percent	77.92%	73.81%	85.67%	71.84%	78.39%	74.53%	78.88%	73.29%	74.14%	75.45%	90.28%
Interest Burden Percent	88.52%	86.90%	81.66%	86.48%	87.86%	90.69%	78.91%	85.10%	87.17%	85.46%	78.46%
Effective Tax Rate	22.08%	26.19%	14.33%	28.16%	21.61%	25.47%	21.12%	26.71%	25.86%	24.55%	9.72%
Return on Invested Capital (ROIC)	11.66%	9.61%	5.99%	9.05%	11.53%	12.22%	7.19%	9.63%	11.18%	10.49%	8.98%
ROIC Less NNEP Spread (ROIC-NNEP)	10.62%	8.82%	5.79%	8.21%	10.50%	11.37%	6.07%	8.58%	10.27%	9.39%	7.40%
Return on Net Nonoperating Assets (RNNOA)	7.00%	4.69%	3.46%	4.60%	6.10%	5.28%	3.12%	4.30%	5.93%	5.15%	4.21%
Return on Equity (ROE)	18.66%	14.30%	9.44%	13.65%	17.63%	17.51%	10.30%	13.92%	17.11%	15.64%	13.19%
Cash Return on Invested Capital (CROIC)	0.54%	4.26%	7.94%	9.83%	-3.96%	-5.30%	-7.11%	-12.72%	-10.07%	-20.72%	-15.07%
Operating Return on Assets (OROA)	9.67%	8.10%	5.20%	7.93%	8.99%	9.50%	5.51%	8.04%	9.09%	8.18%	5.57%
Return on Assets (ROA)	6.67%	5.19%	3.64%	4.93%	6.19%	6.42%	3.43%	5.02%	5.87%	5.27%	3.94%
Return on Common Equity (ROCE)	18.63%	14.26%	9.43%	13.63%	17.59%	17.48%	10.28%	13.90%	17.08%	15.55%	13.10%
Return on Equity Simple (ROE_SIMPLE)	11.88%	0.00%	12.27%	12.26%	11.75%	0.00%	12.74%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	312	238	133	221	338	337	189	271	383	366	306
NOPAT Margin	5.55%	4.12%	2.64%	3.95%	5.21%	5.15%	3.03%	4.01%	5.02%	4.67%	3.88%
Net Nonoperating Expense Percent (NNEP)	1.04%	0.79%	0.20%	0.84%	1.03%	0.86%	1.12%	1.05%	0.91%	1.10%	1.58%
Return On Investment Capital (ROIC_SIMPLE)	-	2.27%	-	-	-	2.94%	1.58%	2.15%	2.73%	2.44%	2.03%
Cost of Revenue to Revenue	84.93%	86.30%	87.61%	85.50%	84.41%	83.77%	86.62%	85.12%	84.06%	84.48%	85.94%
SG&A Expenses to Revenue	6.88%	6.91%	8.00%	7.73%	7.45%	7.72%	7.92%	7.80%	7.51%	7.57%	7.88%
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	7.95%	8.13%	9.30%	9.01%	8.95%	9.32%	9.54%	9.41%	9.16%	9.34%	9.76%
Earnings before Interest and Taxes (EBIT)	397	333	180	309	434	459	239	374	531	491	327
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	549	493	347	472	635	672	447	586	768	745	592
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.53	4.99	5.93	5.66	6.21	6.37	5.05	7.13	7.35	7.04	9.08
Price to Tangible Book Value (P/TBV)	37.43	36.24	56.76	42.91	0.00	331.35	0.00	216.39	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.39	1.50	1.76	1.69	1.92	1.97	1.51	2.15	2.27	2.21	2.73
Price to Earnings (P/E)	38.95	42.05	49.11	47.05	54.17	51.54	40.46	57.64	60.64	61.18	74.34
Dividend Yield	0.17%	0.15%	0.13%	0.13%	0.12%	0.11%	0.15%	0.10%	0.09%	0.09%	0.07%
Earnings Yield	2.57%	2.38%	2.04%	2.13%	1.85%	1.94%	2.47%	1.73%	1.65%	1.63%	1.35%
Enterprise Value to Invested Capital (EV/IC)	3.19	3.72	4.28	4.19	4.35	4.66	3.65	4.98	4.97	4.70	5.98
Enterprise Value to Revenue (EV/Rev)	1.58	1.64	1.90	1.82	2.09	2.12	1.67	2.31	2.46	2.41	2.91
Enterprise Value to EBITDA (EV/EBITDA)	18.30	19.45	22.46	21.60	24.59	23.57	18.69	25.76	27.00	26.93	32.61
Enterprise Value to EBIT (EV/EBIT)	28.16	29.87	34.31	32.99	38.09	36.22	28.85	39.99	41.64	41.93	50.94
Enterprise Value to NOPAT (EV/NOPAT)	37.68	39.21	46.40	44.43	51.40	48.61	38.36	53.11	56.59	56.74	66.45
Enterprise Value to Operating Cash Flow (EV/OCF)	26.66	21.72	23.05	19.71	20.17	24.06	19.93	30.27	36.80	30.75	36.89
Enterprise Value to Free Cash Flow (EV/FCFF)	612.64	89.75	54.28	42.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.67	0.58	0.54	0.66	0.57	0.59	0.60	0.67	0.66	0.64
Long-Term Debt to Equity	0.66	0.58	0.50	0.45	0.58	0.56	0.58	0.59	0.66	0.58	0.57
Financial Leverage	0.66	0.53	0.60	0.56	0.58	0.46	0.51	0.50	0.58	0.55	0.57
Leverage Ratio	2.54	2.54	2.49	2.49	2.60	2.57	2.51	2.48	2.69	2.67	2.70
Compound Leverage Factor	2.25	2.21	2.03	2.15	2.29	2.33	1.98	2.11	2.34	2.28	2.12
Debt to Total Capital	39.91%	40.06%	36.88%	34.87%	39.81%	36.22%	37.24%	37.60%	40.12%	39.91%	39.19%
Short-Term Debt to Total Capital	0.45%	5.11%	5.42%	5.44%	4.72%	0.55%	0.62%	0.69%	0.69%	5.08%	4.59%
Long-Term Debt to Total Capital	39.46%	34.95%	31.46%	29.43%	35.08%	35.67%	36.62%	36.91%	39.42%	34.82%	34.60%
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	0.09%	0.11%	0.11%	0.13%	0.16%	0.10%	0.13%	0.09%	0.06%	0.60%	0.65%
Common Equity to Total Capital	60.01%	59.84%	63.01%	65.00%	60.04%	63.68%	62.63%	62.32%	59.83%	59.50%	60.16%
Debt to EBITDA	2.37	2.39	2.04	1.89	2.41	1.96	1.99	2.03	2.28	2.36	2.19
Net Debt to EBITDA	2.18	1.65	1.75	1.61	2.02	1.61	1.76	1.81	2.03	2.18	2.05
Long-Term Debt to EBITDA	2.34	2.08	1.74	1.60	2.12	1.93	1.96	1.99	2.24	2.05	1.93
Debt to NOPAT	4.87	4.81	4.22	3.89	5.04	4.04	4.09	4.18	4.77	4.96	4.46
Net Debt to NOPAT	4.50	3.33	3.62	3.32	4.21	3.32	3.61	3.73	4.25	4.60	4.19
Long-Term Debt to NOPAT	4.82	4.20	3.60	3.29	4.44	3.98	4.02	4.10	4.69	4.33	3.94
Altman Z-Score	3.77	3.84	4.47	4.40	4.03	4.36	3.82	4.73	4.38	4.01	4.61
Noncontrolling Interest Sharing Ratio	0.13%	0.23%	0.16%	0.17%	0.21%	0.17%	0.19%	0.17%	0.17%	0.62%	0.69%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.61	1.47	1.36	1.30	1.23	1.30	1.31	1.37	1.34	1.14	1.14
Quick Ratio	1.11	1.09	0.96	0.93	0.91	0.98	0.97	0.99	0.99	0.84	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-455	-254	5.09	260	-1,003	-1,221	-1,640	-2,243	-2,027	-3,467	-2,978
Operating Cash Flow to CapEx	320.71%	1,139.84%	286.21%	242.36%	369.14%	521.35%	193.87%	236.05%	449.36%	396.35%	188.95%
Free Cash Flow to Firm to Interest Expense	-9.58	-5.12	0.12	5.73	-16.72	-21.67	-30.20	-37.64	-28.22	-45.77	-40.65
Operating Cash Flow to Interest Expense	8.55	20.27	5.79	8.63	12.34	12.64	4.48	4.96	7.85	14.89	5.35
Operating Cash Flow Less CapEx to Interest Expense	5.89	18.49	3.77	5.07	9.00	10.21	2.17	2.86	6.10	11.13	2.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.37	1.41	1.45	1.44	1.35	1.36	1.43	1.45	1.31	1.31	1.34
Accounts Receivable Turnover	4.90	5.17	5.55	5.18	4.83	4.94	5.30	5.31	4.73	4.74	4.67
Inventory Turnover	127.50	128.67	96.47	96.81	89.43	92.52	86.79	84.81	75.69	76.77	72.04
Fixed Asset Turnover	9.04	9.56	9.30	9.38	9.27	9.40	9.52	9.74	9.66	9.25	9.54
Accounts Payable Turnover	6.21	6.88	7.51	6.63	5.64	5.94	6.58	6.46	5.50	5.83	6.08
Days Sales Outstanding (DSO)	74.54	70.66	65.74	70.46	75.56	73.87	68.85	68.77	77.23	77.01	78.08
Days Inventory Outstanding (DIO)	2.86	2.84	3.78	3.77	4.08	3.95	4.21	4.30	4.82	4.75	5.07
Days Payable Outstanding (DPO)	58.77	53.03	48.60	55.03	64.67	61.40	55.43	56.47	66.40	62.59	59.99
Cash Conversion Cycle (CCC)	18.64	20.47	20.93	19.20	14.97	16.41	17.63	16.60	15.65	19.17	23.16
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,672	9,192	9,557	9,586	11,013	10,750	11,386	12,100	13,423	14,583	14,670
Invested Capital Turnover	2.10	2.33	2.26	2.29	2.21	2.37	2.38	2.40	2.23	2.25	2.31
Increase / (Decrease) in Invested Capital	767	492	128	-39	1,341	1,558	1,829	2,514	2,410	3,833	3,284
Enterprise Value (EV)	30,809	34,231	40,919	40,201	47,856	50,070	41,584	60,258	66,763	68,564	87,753
Market Capitalization	27,124	31,311	37,719	37,183	43,913	46,638	37,655	56,016	61,736	62,919	82,128
Book Value per Share	$41.24	$43.17	$43.56	$44.86	$47.99	$49.57	$50.32	$53.02	$56.35	$59.94	$60.45
Tangible Book Value per Share	$4.99	$5.95	$4.55	$5.92	($1.21)	$0.95	($0.42)	$1.75	($4.23)	($8.62)	($7.25)
Total Capital	9,978	10,482	10,088	10,104	11,777	11,492	11,906	12,609	14,033	15,023	15,035
Total Debt	3,982	4,199	3,721	3,523	4,688	4,162	4,434	4,741	5,630	5,995	5,892
Total Long-Term Debt	3,937	3,664	3,174	2,974	4,132	4,100	4,360	4,654	5,532	5,231	5,202
Net Debt	3,677	2,908	3,190	3,005	3,924	3,420	3,913	4,231	5,019	5,555	5,527
Capital Expenditures (CapEx)	127	88	83	161	200	137	125	125	125	284	207
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,282	1,709	1,768	1,603	1,313	1,143	1,397	1,778	1,912	1,512	1,594
Debt-free Net Working Capital (DFNWC)	2,588	2,999	2,299	2,121	2,077	1,885	1,918	2,287	2,522	1,951	1,958
Net Working Capital (NWC)	2,543	2,464	1,752	1,572	1,521	1,823	1,844	2,200	2,425	1,187	1,269
Net Nonoperating Expense (NNE)	38	24	7.00	29	39	27	40	38	41	49	74
Net Nonoperating Obligations (NNO)	3,677	2,908	3,190	3,005	3,924	3,420	3,913	4,231	5,019	5,555	5,527
Total Depreciation and Amortization (D&A)	153	160	166	163	200	213	208	212	237	254	266
Debt-free, Cash-free Net Working Capital to Revenue	11.70%	8.18%	8.23%	7.27%	5.73%	4.83%	5.62%	6.82%	7.03%	5.31%	5.29%
Debt-free Net Working Capital to Revenue	13.26%	14.36%	10.70%	9.63%	9.07%	7.96%	7.71%	8.78%	9.28%	6.85%	6.50%
Net Working Capital to Revenue	13.03%	11.80%	8.16%	7.13%	6.64%	7.70%	7.41%	8.45%	8.92%	4.17%	4.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.88	$1.45	$0.81	$1.28	$1.99	$2.08	$0.97	$1.54	$2.28	$2.12	$1.47
Adjusted Weighted Average Basic Shares Outstanding	145.46M	145.22M	145.94M	146.58M	147.39M	146.93M	148.27M	148.45M	149.04M	148.79M	149.78M
Adjusted Diluted Earnings per Share	$1.83	$1.41	$0.79	$1.26	$1.95	$2.03	$0.96	$1.52	$2.24	$2.08	$1.45
Adjusted Weighted Average Diluted Shares Outstanding	148.79M	148.82M	149.35M	149.79M	150.56M	150.06M	150.96M	150.92M	151.50M	151.29M	152.09M
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	145.28M	145.75M	146.39M	147.33M	147.61M	148.20M	148.20M	149.01M	149.12M	149.62M	150.06M
Normalized Net Operating Profit after Tax (NOPAT)	313	242	134	222	339	341	192	279	388	373	315
Normalized NOPAT Margin	5.56%	4.19%	2.66%	3.96%	5.22%	5.20%	3.08%	4.12%	5.09%	4.76%	4.00%
Pre Tax Income Margin	6.25%	5.00%	2.93%	4.77%	5.87%	6.35%	3.03%	4.70%	6.06%	5.35%	3.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.34	6.73	4.39	6.81	7.24	8.15	4.41	6.28	7.39	6.48	4.46
NOPAT to Interest Expense	6.56	4.81	3.24	4.87	5.64	5.99	3.47	4.56	5.34	4.83	4.17
EBIT Less CapEx to Interest Expense	5.68	4.95	2.36	3.25	3.90	5.72	2.10	4.18	5.64	2.73	1.63
NOPAT Less CapEx to Interest Expense	3.90	3.03	1.22	1.31	2.29	3.56	1.16	2.45	3.59	1.07	1.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.48%	6.36%	6.24%	6.24%	6.32%	5.84%	5.88%	5.80%	5.68%	5.80%	5.52%
Augmented Payout Ratio	6.48%	6.41%	6.24%	6.24%	6.32%	5.84%	18.36%	19.37%	18.67%	18.71%	6.95%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Quanta Services (NYSE: PWR) drawn from the last four years of quarterly financial statements, focusing on revenue, profitability, cash flow, and leverage. Items are grouped to highlight positives first, then neutral factors, and finally potential negatives that retail investors may want to watch.

Strong quarterly revenue in late 2025. Q4 2025 operating revenue reached about $7.84 billion, up from $6.55 billion in Q4 2024, signaling solid top-line momentum into year-end.
Stable and improving gross margins. Gross margin in Q4 2025 was around 15.5% (gross profit of $1.22B on $7.84B revenue), indicating a consistent profitability backbone across recent quarters.
Solid net income to common shareholders. Q4 2025 net income to common was about $315.5 million, with Q3 2025 at $339.4 million, showing sustained profitability at the shareholder level.
Improving operating cash flow in Q4 2025. Net cash from continuing operating activities was about $1.13 billion in Q4 2025, up meaningfully from earlier quarters, highlighting stronger cash conversion.
Active growth financing supports expansion. In 2025 Q3, Quanta reported a large issuance of debt (roughly $16.2 billion), underscoring access to capital markets to fund acquisitions and growth initiatives.
Ongoing capital investments and acquisitions. Acquisitions cash outlays were sizable in 2025 (about $1.20–$1.27 billion across recent quarters), reflecting an active growth strategy that may affect near-term cash flow.
Capex remains modest relative to revenue. Quarterly purchases of property, plant & equipment ranged roughly from $132 million to $296 million, a manageable level that supports capacity growth without extreme cash drag.
Earnings per share in the near $2 range. Diluted EPS hovered around $2 per share in recent quarters (Q4 2025 diluted EPS $2.08), with modest fluctuations as volumes and mix change.
Leverage sits at a meaningful level. Total liabilities around $14.3 billion versus total equity near $8.4 billion (Q3 2025), implying a debt-heavy balance sheet that could be sensitive to rising rates or refinancing risk.
Investing cash flow remains negative due to growth activities. Net cash used in investing activities was sizable in recent quarters (driven by acquisitions and capex), which can dampen near-term free cash flow despite strong operating cash flow.

05/08/26 04:26 PM ETAI Generated. May Contain Errors.

Quanta Services Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Quanta Services' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Quanta Services' net income appears to be on an upward trend, with a most recent value of $1.04 billion in 2025, rising from $321.82 million in 2015. The previous period was $927.28 million in 2024. See where experts think Quanta Services is headed by visiting Quanta Services' forecast page.

Quanta Services' total operating income in 2025 was $1.61 billion, based on the following breakdown:

Total Gross Profit: $4.28 billion
Total Operating Expenses: $2.66 billion

Over the last 10 years, Quanta Services' total revenue changed from $7.57 billion in 2015 to $28.48 billion in 2025, a change of 276.1%.

Quanta Services' total liabilities were at $15.90 billion at the end of 2025, a 40.0% increase from 2024, and a 647.9% increase since 2015.

In the past 10 years, Quanta Services' cash and equivalents has ranged from $78.69 million in 2018 to $1.29 billion in 2023, and is currently $439.51 million as of their latest financial filing in 2025.

Over the last 10 years, Quanta Services' book value per share changed from 19.31 in 2015 to 59.94 in 2025, a change of 210.4%.

Related Companies

Financial statements for NYSE:PWR last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Quanta Services (PWR) Financials

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Quanta Services (PWR) Financials

Annual Income Statements for Quanta Services

Quarterly Income Statements for Quanta Services

Annual Cash Flow Statements for Quanta Services

Quarterly Cash Flow Statements for Quanta Services

Annual Balance Sheets for Quanta Services

Quarterly Balance Sheets for Quanta Services

Annual Metrics And Ratios for Quanta Services

Quarterly Metrics And Ratios for Quanta Services

Financials Breakdown Chart

Key Financial Trends

Quanta Services Financials - Frequently Asked Questions

When does Quanta Services' financial year end?

How has Quanta Services' net income changed over the last 10 years?

What is Quanta Services' operating income?

How has Quanta Services' revenue changed over the last 10 years?

How much debt does Quanta Services have?

How much cash does Quanta Services have?

How has Quanta Services' book value per share changed over the last 10 years?

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