Quanta Services Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Quanta Services has an operating margin of 5.7%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is up from 5.4% the prior year.
Quanta Services's revenue grew 13.4% year-over-year to $23.7B, a solid pace of expansion. This earns a growth score of 67/100.
Quanta Services carries a low D/E ratio of 0.56, meaning only $0.56 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Quanta Services's current ratio of 1.30 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
Quanta Services has a free cash flow margin of 6.2%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.
Quanta Services's ROE of 12.4% shows moderate profitability relative to equity, earning a score of 49/100. This is up from 11.9% the prior year.
Quanta Services scores 6.18, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($78.1B) relative to total liabilities ($11.4B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Quanta Services passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Quanta Services generates $2.30 in operating cash flow ($2.1B OCF vs $904.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Quanta Services earns $6.6 in operating income for every $1 of interest expense ($1.3B vs $202.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Quanta Services (PWR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Quanta Services generated $23.7B in revenue in fiscal year 2024. This represents an increase of 13.4% from the prior year.
Quanta Services's EBITDA was $2.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.2% from the prior year.
Quanta Services generated $1.5B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 29.4% from the prior year.
Quanta Services reported $904.8M in net income in fiscal year 2024. This represents an increase of 21.5% from the prior year.
Quanta Services earned $6.03 per diluted share (EPS) in fiscal year 2024. This represents an increase of 20.6% from the prior year.
Quanta Services held $742.0M in cash against $4.1B in long-term debt as of fiscal year 2024.
Quanta Services paid $0.37 per share in dividends in fiscal year 2024. This represents an increase of 12.1% from the prior year.
Quanta Services had 148M shares outstanding in fiscal year 2024. This represents an increase of 1.5% from the prior year.
Quanta Services's gross margin was 14.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the prior year.
Quanta Services's operating margin was 5.7% in fiscal year 2024, reflecting core business profitability. This is up 0.3 percentage points from the prior year.
Quanta Services's net profit margin was 3.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.2 percentage points from the prior year.
Quanta Services's ROE was 12.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the prior year.
Quanta Services spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Quanta Services invested $604.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 38.9% from the prior year.
PWR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6B+12.7% | $6.8B+8.7% | $6.2B-4.9% | $6.6B+0.9% | $6.5B+16.1% | $5.6B+11.2% | $5.0B-13.0% | $5.8B |
| Cost of Revenue | $6.4B+11.3% | $5.8B+6.8% | $5.4B-1.7% | $5.5B+0.2% | $5.5B+14.6% | $4.8B+8.5% | $4.4B-11.7% | $5.0B |
| Gross Profit | $1.2B+20.7% | $1.0B+20.8% | $834.0M-21.6% | $1.1B+5.0% | $1.0B+24.8% | $811.3M+30.1% | $623.5M-21.3% | $792.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $573.0M+8.4% | $528.4M+7.0% | $494.0M-2.4% | $506.2M+4.6% | $483.9M+11.9% | $432.4M+7.5% | $402.3M+0.6% | $399.9M |
| Operating Income | $517.2M+39.7% | $370.3M+54.9% | $239.1M-47.2% | $452.7M+5.0% | $431.2M+40.3% | $307.2M+97.8% | $155.4M-51.8% | $322.5M |
| Interest Expense | $71.8M+20.5% | $59.6M+9.7% | $54.3M-3.6% | $56.3M-6.0% | $60.0M+32.3% | $45.3M+10.3% | $41.1M-17.0% | $49.5M |
| Income Tax | $119.6M+40.5% | $85.1M+113.4% | $39.9M-62.4% | $106.0M+28.6% | $82.4M+9.6% | $75.2M+256.5% | $21.1M-72.2% | $75.8M |
| Net Income | $339.4M+48.1% | $229.3M+58.9% | $144.3M-52.7% | $305.1M+4.1% | $293.2M+55.8% | $188.2M+59.0% | $118.4M-43.9% | $210.9M |
| EPS (Diluted) | $2.24+47.4% | $1.52+58.3% | $0.96-52.7% | $2.03+4.1% | $1.95+54.8% | $1.26+59.5% | $0.79-44.0% | $1.41 |
PWR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $22.7B+14.3% | $19.9B+4.0% | $19.1B+2.4% | $18.7B-1.0% | $18.9B+18.4% | $15.9B+2.5% | $15.5B-4.3% | $16.2B |
| Current Assets | $9.5B+15.8% | $8.2B+4.4% | $7.8B-0.3% | $7.9B-2.4% | $8.0B+16.8% | $6.9B+4.6% | $6.6B-14.2% | $7.7B |
| Cash & Equivalents | $610.4M+19.8% | $509.5M-2.1% | $520.6M-29.8% | $742.0M-2.9% | $764.1M+47.5% | $518.1M-2.4% | $531.1M-58.8% | $1.3B |
| Inventory | $333.7M+16.3% | $286.9M+9.1% | $263.1M+1.1% | $260.2M-5.7% | $275.9M+17.3% | $235.1M+4.8% | $224.3M+27.7% | $175.7M |
| Accounts Receivable | $6.4B+18.0% | $5.4B+1.8% | $5.3B+2.3% | $5.2B+0.4% | $5.1B+16.2% | $4.4B+8.2% | $4.1B-7.2% | $4.4B |
| Goodwill | $6.7B+18.1% | $5.7B+2.0% | $5.6B+4.6% | $5.3B+0.6% | $5.3B+22.4% | $4.3B+0.7% | $4.3B+5.9% | $4.0B |
| Total Liabilities | $14.3B+19.3% | $12.0B+3.1% | $11.7B+2.7% | $11.4B-3.6% | $11.8B+26.0% | $9.3B+1.9% | $9.2B-7.8% | $10.0B |
| Current Liabilities | $7.0B+17.9% | $6.0B-0.1% | $6.0B-0.7% | $6.0B-7.6% | $6.5B+22.7% | $5.3B+10.0% | $4.8B-7.3% | $5.2B |
| Long-Term Debt | $5.5B+18.9% | $4.7B+6.7% | $4.4B+6.3% | $4.1B-0.8% | $4.1B+39.0% | $3.0B-6.3% | $3.2B-13.4% | $3.7B |
| Total Equity | $8.4B+6.8% | $7.9B+5.4% | $7.5B+1.9% | $7.3B+3.5% | $7.1B+7.7% | $6.6B+3.3% | $6.4B+1.3% | $6.3B |
| Retained Earnings | $6.4B+5.4% | $6.1B+3.7% | $5.8B+2.3% | $5.7B+5.4% | $5.4B+5.4% | $5.1B+3.5% | $5.0B+2.2% | $4.9B |
PWR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $563.5M+90.6% | $295.7M+21.6% | $243.2M-65.8% | $712.0M-3.8% | $739.9M+89.1% | $391.3M+64.4% | $238.0M-76.3% | $1.0B |
| Capital Expenditures | $142.4M+1.5% | $140.3M+5.7% | $132.8M-9.7% | $147.0M-30.8% | $212.5M+31.6% | $161.5M+94.2% | $83.1M-24.0% | $109.4M |
| Free Cash Flow | $421.0M+171.0% | $155.4M+40.7% | $110.4M-80.5% | $565.0M+7.1% | $527.4M+129.5% | $229.9M+48.5% | $154.8M-82.7% | $894.1M |
| Investing Cash Flow | -$1.3B-183.8% | -$459.9M+11.7% | -$520.6M-211.4% | -$167.2M+89.1% | -$1.5B-658.9% | -$202.7M+47.6% | -$386.6M-44.6% | -$267.3M |
| Financing Cash Flow | $844.7M+528.5% | $134.4M+156.7% | $52.4M+109.8% | -$533.1M-151.6% | $1.0B+608.6% | -$203.3M+66.3% | -$603.0M-354.0% | $237.4M |
| Dividends Paid | $15.1M+1.4% | $14.9M-3.9% | $15.5M+15.2% | $13.4M-2.4% | $13.8M+3.8% | $13.3M-3.5% | $13.7M+17.5% | $11.7M |
| Share Buybacks | $0-100.0% | $16.0M-86.5% | $118.6M | $0 | $0 | $0 | $0-100.0% | $350K |
PWR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.9%+1.1pp | 14.9%+1.5pp | 13.4%-2.8pp | 16.2%+0.6pp | 15.6%+1.1pp | 14.5%+2.1pp | 12.4%-1.3pp | 13.7% |
| Operating Margin | 6.8%+1.3pp | 5.5%+1.6pp | 3.8%-3.1pp | 6.9%+0.3pp | 6.6%+1.2pp | 5.5%+2.4pp | 3.1%-2.5pp | 5.6% |
| Net Margin | 4.5%+1.1pp | 3.4%+1.1pp | 2.3%-2.4pp | 4.7%+0.1pp | 4.5%+1.2pp | 3.4%+1.0pp | 2.4%-1.3pp | 3.6% |
| Return on Equity | 4.0%+1.1pp | 2.9%+1.0pp | 1.9%-2.2pp | 4.2%+0.0pp | 4.2%+1.3pp | 2.9%+1.0pp | 1.9%-1.5pp | 3.4% |
| Return on Assets | 1.5%+0.3pp | 1.1%+0.4pp | 0.8%-0.9pp | 1.6%+0.1pp | 1.6%+0.4pp | 1.2%+0.4pp | 0.8%-0.5pp | 1.3% |
| Current Ratio | 1.34-0.0 | 1.37+0.1 | 1.310.0 | 1.30+0.1 | 1.23-0.1 | 1.30-0.1 | 1.36-0.1 | 1.47 |
| Debt-to-Equity | 0.66+0.1 | 0.590.0 | 0.58+0.0 | 0.56-0.0 | 0.58+0.1 | 0.45-0.0 | 0.50-0.1 | 0.58 |
| FCF Margin | 5.5%+3.2pp | 2.3%+0.5pp | 1.8%-6.9pp | 8.6%+0.5pp | 8.1%+4.0pp | 4.1%+1.0pp | 3.1%-12.4pp | 15.5% |
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Frequently Asked Questions
What is Quanta Services's annual revenue?
Quanta Services (PWR) reported $23.7B in total revenue for fiscal year 2024. This represents a 13.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Quanta Services's revenue growing?
Quanta Services (PWR) revenue grew by 13.4% year-over-year, from $20.9B to $23.7B in fiscal year 2024.
Is Quanta Services profitable?
Yes, Quanta Services (PWR) reported a net income of $904.8M in fiscal year 2024, with a net profit margin of 3.8%.
What is Quanta Services's earnings per share (EPS)?
Quanta Services (PWR) reported diluted earnings per share of $6.03 for fiscal year 2024. This represents a 20.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Quanta Services's EBITDA?
Quanta Services (PWR) had EBITDA of $2.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Quanta Services have?
As of fiscal year 2024, Quanta Services (PWR) had $742.0M in cash and equivalents against $4.1B in long-term debt.
What is Quanta Services's gross margin?
Quanta Services (PWR) had a gross margin of 14.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Quanta Services's operating margin?
Quanta Services (PWR) had an operating margin of 5.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Quanta Services's net profit margin?
Quanta Services (PWR) had a net profit margin of 3.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Quanta Services pay dividends?
Yes, Quanta Services (PWR) paid $0.37 per share in dividends during fiscal year 2024.
What is Quanta Services's return on equity (ROE)?
Quanta Services (PWR) has a return on equity of 12.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Quanta Services's free cash flow?
Quanta Services (PWR) generated $1.5B in free cash flow during fiscal year 2024. This represents a 29.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Quanta Services's operating cash flow?
Quanta Services (PWR) generated $2.1B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Quanta Services's total assets?
Quanta Services (PWR) had $18.7B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Quanta Services's capital expenditures?
Quanta Services (PWR) invested $604.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Quanta Services have outstanding?
Quanta Services (PWR) had 148M shares outstanding as of fiscal year 2024.
What is Quanta Services's current ratio?
Quanta Services (PWR) had a current ratio of 1.30 as of fiscal year 2024, which is considered adequate.
What is Quanta Services's debt-to-equity ratio?
Quanta Services (PWR) had a debt-to-equity ratio of 0.56 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Quanta Services's return on assets (ROA)?
Quanta Services (PWR) had a return on assets of 4.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Quanta Services's Altman Z-Score?
Quanta Services (PWR) has an Altman Z-Score of 6.18, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Quanta Services's Piotroski F-Score?
Quanta Services (PWR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Quanta Services's earnings high quality?
Quanta Services (PWR) has an earnings quality ratio of 2.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Quanta Services cover its interest payments?
Quanta Services (PWR) has an interest coverage ratio of 6.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Quanta Services?
Quanta Services (PWR) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.