Quanta Services, Inc.PWR
NYSE•Industrials•Engineering & Construction
Quanta Services, Inc. offers infrastructure solutions for the electric and gas utility, power generation, load center, manufacturing, communications, pipeline, and energy industries. The company's Electric Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings. This segment offers aviation; emergency aerial firefighting services; emergency restoration; and other engineering and technical services; design and construction solutions to wireline and wireless communications, cable multi-system operators, technology companies, and other customers; engineering, procurement, new construction, and repair and maintenance services for renewable generation facilities; and training for electric workers, as well as training for the gas distribution and communications industries. Its Underground Utility and Infrastructure Solutions segment is involved in the transportation, distribution, storage, development, and processing of natural gas, oil, and other products, as well as owns and operates large load centers. This segment also engages in the design, engineering, procurement, construction, upgrade, and repair and maintenance services for natural gas systems; pipeline protection, integrity testing, rehabilitation, and replacement services; and catalyst replacement, high-pressure and critical-path turnaround, instrumentation and electrical, piping, fabrication, and storage tank services. The company was formerly known as Fabal Construction, Inc. and changed its name to Quanta Services, Inc. in November 1997. The company was incorporated in 1997 and is headquartered in Houston, Texas.
Quanta Services, Inc. (PWR) reported trailing twelve months revenue of $30.12B as of March 2026, a 21.1% increase year-over-year. Quarterly revenue reached $7.87B, reflecting continued top-line momentum.
Quanta Services, Inc. generated $1.10B in TTM net income, with quarterly EBITDA of $604.45M. The operating margin expanded from 3.8% to 4.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (4.3%) and net margin (2.8%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 2.3% a year ago, signaling stronger bottom-line efficiency.
PWR trades at a P/E of 72.4x (a premium multiple) and a P/S of 2.7x. The price-to-book ratio of 8.8x indicates a significant premium over book value.
The company generated $171.65M in free cash flow over the trailing twelve months, a 55.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $25.75B in total assets with $5.20B in long-term debt against $9.04B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~5.7% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~12.1% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~36.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~5.7% — no sign of cost or pricing stress.
FCF covers net income by 1.4x on average — earnings are well-supported by cash generation.
D/E ratio is 0.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 2.2% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation