Logo

PWR

Quanta Services, Inc.

PWR

Quanta Services, Inc. • NYSE
$464.88 ▲ 0.97% (+4.45)
Market Cap $68.98 B
52w High $469.43
52w Low $227.08
Dividend Yield 0.44%
P/E 68.97
Volume 405.60K
Outstanding Shares 148.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.505B ▲ $572.95M ▲ $339.42M ▲ 4.522% ▲ $2.28 ▲ $834.964M ▲
Q2-2025 $6.773B ▲ $503.756M ▲ $229.25M ▲ 3.385% ▲ $1.54 ▲ $590.105M ▲
Q1-2025 $6.233B ▼ $480.191M ▼ $144.258M ▼ 2.314% ▼ $0.97 ▼ $450.837M ▼
Q4-2024 $6.553B ▲ $501.647M ▲ $305.12M ▲ 4.656% ▲ $2.06 ▲ $685.312M ▲
Q3-2024 $6.493B $476.163M $293.185M 4.515% $1.99 $641.793M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $610.387M ▲ $22.744B ▲ $14.34B ▲ $8.396B ▲
Q2-2025 $509.46M ▼ $19.891B ▲ $12.022B ▲ $7.858B ▲
Q1-2025 $520.561M ▼ $19.135B ▲ $11.662B ▲ $7.457B ▲
Q4-2024 $741.96M ▼ $18.684B ▼ $11.354B ▼ $7.318B ▲
Q3-2024 $764.067M $18.866B $11.777B $7.071B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $339.42M ▲ $563.496M ▲ $-1.305B ▼ $844.662M ▲ $99.521M ▲ $421.047M ▲
Q2-2025 $233.523M ▲ $295.711M ▲ $-459.925M ▲ $134.393M ▲ $-10.479M ▲ $155.362M ▲
Q1-2025 $148.969M ▼ $243.198M ▼ $-520.621M ▼ $52.354M ▲ $-222.778M ▼ $110.436M ▼
Q4-2024 $310.287M ▲ $712.015M ▼ $-167.171M ▲ $-533.063M ▼ $-22.758M ▼ $565.03M ▲
Q3-2024 $299.021M $739.914M $-1.538B $1.034B $247.021M $527.416M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Underground Utility and Infrastructure Solutions
Underground Utility and Infrastructure Solutions
 $1.17Bn ▲$1.29Bn ▲$1.31Bn ▲$1.46Bn ▲
Electric Power Infrastructure
Electric Power Infrastructure
 $3.41Bn ▲$4.94Bn ▲$5.46Bn ▲$0 ▼
Renewable Energy Infrastructure Solutions
Renewable Energy Infrastructure Solutions
 $1.98Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have climbed steadily over the past five years, showing a business that is growing both in size and earnings power. Profitability has improved as the company scaled, with operating and cash profits rising faster than sales, which suggests better pricing, project selection, or execution discipline. Net income and earnings per share have grown meaningfully, though margins are still in the mid‑single‑digit range, typical for construction and infrastructure services. The main risk to watch is that this is still a project‑based business, so profitability can be sensitive to cost overruns, contract mix, and general infrastructure spending cycles.

Balance Sheet

Balance Sheet The balance sheet has expanded significantly, with total assets and shareholders’ equity both trending higher, reflecting growth and acquisitions. Debt has also increased materially over this period, but it remains balanced against a larger equity base, so leverage looks moderate rather than aggressive. Cash on hand is reasonable but not especially large for a company of this size, implying some reliance on ongoing cash generation and credit lines to fund operations and deals. Overall, the financial position looks solid, but the higher debt load and ongoing acquisition strategy mean investors should keep an eye on leverage and integration risk.

Cash Flow

Cash Flow The company generates healthy and rising cash from its operations, which is a strong point of the story. Free cash flow has been positive in each of the last five years and has improved meaningfully, even as the company has stepped up its investment in equipment and capacity. Capital spending is increasing, but it remains comfortably covered by operating cash, which gives the business flexibility to fund growth, pay down debt, or pursue acquisitions. The main watchpoint is that large, long‑duration projects can create lumpiness in working capital, so year‑to‑year cash flows may move around even if the long‑term trend stays positive.

Competitive Edge

Competitive Edge Quanta has built a strong competitive position in North American infrastructure services. Its advantages come from scale, a very large and specialized workforce, and a broad mix of services that span power grids, renewables, underground utilities, communications, and now data‑center infrastructure. The company can offer end‑to‑end solutions—from planning and engineering through construction and maintenance—which is attractive for utilities and large infrastructure customers who prefer a single, accountable partner. A sizable, record project backlog provides good visibility into future work and underpins its market standing, though it also raises the need for consistent execution and careful risk management on very large projects.

Innovation and R&D

Innovation and R&D While this is not a traditional tech company, Quanta uses practical innovation to differentiate itself. Its energized services, including proprietary tools like the LineMaster robotic arm, allow complex work on live power lines and reduce customer downtime—an important edge in the utility market. Subsidiaries have developed on‑the‑job tools and safety systems that improve efficiency and worker protection, showing a culture of field‑driven innovation rather than lab‑style R&D. Recent acquisitions have added capabilities in data centers, semiconductors, and grid modernization consulting, positioning the company at the intersection of renewables, AI infrastructure, and modern power systems. The key uncertainty is how effectively Quanta continues to integrate new technologies and acquired businesses while maintaining safety, quality, and margin discipline.

Summary

Overall, Quanta Services looks like a scaled infrastructure solutions provider riding several powerful themes: grid modernization, renewable energy build‑out, and the surge in power demand from data centers and AI. Financially, it has grown steadily in revenue and profits, improved its cash generation, and expanded its asset base, albeit with higher debt tied to growth and acquisitions. Competitively, its size, workforce depth, and ability to handle complex, mission‑critical projects create a meaningful moat in a fragmented industry. Innovation is practical and customer‑focused, enhancing safety and minimizing outages rather than chasing pure technology headlines. Key areas to monitor include leverage, execution on a very large backlog of projects, integration of acquisitions, and the health of long‑term utility and infrastructure spending cycles, which ultimately drive demand for its services.

NEWS

November 21, 2025 · 6:55 AM UTC

QUANTA SERVICES TO PARTICIPATE IN THE UBS GLOBAL INDUSTRIALS AND TRANSPORTATION CONFERENCE

Read more

November 18, 2025 · 6:55 AM UTC

QUANTA SERVICES ANNOUNCES QUARTERLY CASH DIVIDEND

Read more

November 5, 2025 · 8:00 AM UTC

AEP and Quanta Services Announce Strategic Partnership to Advance Transmission and Power Infrastructure

Read more

October 30, 2025 · 6:56 AM UTC

Building Upon Decades of Power Generation Experience, Quanta Expands Its Total Solutions Platform And Announces Its Selection By NiSource To Provide Power Generation And Grid Infrastructure Solutions For A Large Load Customer

Read more

October 30, 2025 · 6:55 AM UTC

QUANTA SERVICES REPORTS THIRD QUARTER 2025 RESULTS

Read more