Centuri Holdings, Inc. (CTRI) AI Stock Analysis

• Market Cap: $1.75B
• Dividend Yield: N/A
• Average Volume (3M): 2.25M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.20
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 8,687
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Gas
• EPS (TTM): 0.19
• Shares Outstanding: 88,649,155
• 10 Day Avg. Volume: 1,714,615
• 30 Day Avg. Volume: 2,253,280
• PEG Ratio: 2.50
• Price to Book (P/B): 2.89
• Price to Sales (P/S): 0.61
• P/FCF Ratio: 27.31
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: 1.05
• Enterprise Value/Gross Profit: 13.38
• Enterprise Value/Ebitda: 12.21
• 1Y Price Target: $24.50
• Price Target Upside: 12.85% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $20.50 ▼(-5.57% Downside)

Centuri Holdings, Inc. shows strong revenue growth and a robust backlog, as highlighted in the earnings call, which positively impacts the score. However, significant financial challenges, including high leverage, negative cash flow growth, and a high P/E ratio, weigh heavily on the overall score. Technical indicators suggest caution, with the stock trading below key moving averages.

Positive Factors

Record Revenue Growth

The significant revenue growth indicates strong market demand and effective strategic execution, suggesting a positive outlook for future expansion.

Robust Backlog

A strong backlog ensures future revenue streams and reflects sustained demand for Centuri's services, supporting long-term business stability.

Strategic Fleet Optimization

Fleet optimization enhances operational efficiency and cash generation, which can improve profitability and competitive positioning in the long term.

Negative Factors

Declining Gross Profit Margin

A declining gross profit margin indicates cost pressures and potential pricing challenges, which could affect profitability if not addressed.

Negative Free Cash Flow

Negative free cash flow suggests liquidity challenges and may limit the company's ability to invest in growth opportunities or reduce debt.

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting the company's ability to weather economic downturns.

Centuri Holdings, Inc. Business Overview & Revenue Model

Company Description

Centuri Holdings, Inc. operates as a utility infrastructure services company in North America. The company operates through four segments: U.S. Gas Utility Services; Canadian Gas Utility Services; Union Electric Utility Services; and Non-Union Electric Utility Services. It offers gas utility services, including maintenance, replacement, repair, and installation for local natural gas distribution utilities focused on the modernization of customers' infrastructure. The company also provides electric utility services encompassing maintenance, replacement, repair, upgrade, and expansion services for urban transmission and local distribution infrastructure. Its customers include electric, gas, and combination utility providers, as well as serves end markets, such as renewable energy, data centers, and 5G datacom. The company was founded in 1909 and is headquartered in Phoenix, Arizona. Centuri Holdings, Inc. is a subsidiary of Southwest Gas Holdings, Inc.

How the Company Makes Money

Centuri Holdings generates revenue through multiple channels within the utility and energy sectors. The core revenue streams include utility construction services, where the company partners with utility providers to build and maintain infrastructure such as power lines, pipelines, and water systems. Additionally, Centuri earns money through maintenance services that ensure the reliability and safety of existing systems. Significant partnerships with major utility companies enhance its project pipeline and provide steady contracts, contributing to a stable revenue base. The company's focus on expanding its service offerings and geographic reach also plays a crucial role in driving growth and increasing earnings.

Centuri Holdings, Inc. Financial Statement Overview

Summary

Centuri Holdings, Inc. is facing financial challenges with declining revenue, negative profitability, and a concerning balance sheet. The income statement shows declining revenues and negative net profit margins. The balance sheet is unstable with zero stockholders' equity, indicating high leverage. Cash flow is somewhat resilient but shows a minor decline. Overall, the company needs to improve financial stability and profitability.

Income Statement

The income statement reflects a challenging period for Centuri Holdings, Inc. with declining revenues from $2.9 billion in 2023 to $2.5 billion in 2024. The gross profit margin decreased from 9.44% in 2023 to 8.72% in 2024, and the net profit margin remains negative, indicating profitability issues. EBIT margin improved from -2.68% in 2023 to 3.43% in 2024, but EBITDA margin showed slight improvement. Overall, the company faces growth and profitability challenges.

Balance Sheet

Centuri Holdings, Inc. shows a concerning balance sheet with zero stockholders' equity in 2024, indicating potential financial instability. The debt-to-equity ratio is undefined, reflecting high leverage, and the return on equity cannot be calculated due to the lack of equity. The company needs to address its balance sheet health to improve potential risks associated with high leverage.

Cash Flow

Cash flow analysis reveals a resilient operating cash flow, which decreased slightly from $167 million in 2023 to $158 million in 2024. Free cash flow showed a minor decline, but the free cash flow to net income ratio improved due to lower negative net income. The operating cash flow to net income ratio indicates the company's ability to generate cash despite negative profits, but capital expenditures remain a significant outflow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.84B	2.64B	2.90B	2.76B	2.16B
Gross Profit	223.82M	220.67M	273.44M	214.61M	186.05M
EBITDA	245.20M	243.19M	85.32M	67.50M	229.05M
Net Income	2.51M	-6.72M	-186.18M	-168.15M	40.51M
Balance Sheet
Total Assets	2.18B	2.07B	2.19B	2.45B	2.57B
Cash, Cash Equivalents and Short-Term Investments	16.13M	49.02M	33.41M	63.97M	114.71M
Total Debt	260.10M	1.01B	1.31B	1.33B	1.36B
Total Liabilities	1.59B	1.51B	1.86B	1.91B	1.89B
Stockholders Equity	585.17M	555.55M	225.99M	386.75M	479.61M
Cash Flow
Free Cash Flow	-46.75M	58.90M	60.81M	-34.96M	-937.00K
Operating Cash Flow	55.23M	158.23M	167.47M	94.63M	109.48M
Investing Cash Flow	-94.25M	-89.38M	-94.85M	-117.06M	-916.58M
Financing Cash Flow	3.08M	-52.62M	-103.45M	-27.45M	883.54M

Centuri Holdings, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.71
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTRI, the sentiment is Positive. The current price of 21.71 is above the 20-day moving average (MA) of 20.75, above the 50-day MA of 20.71, and above the 200-day MA of 19.95, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.69 is Neutral, neither overbought nor oversold. The STOCH value of 67.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTRI.

Centuri Holdings, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SWX	74 Outperform	$5.95B	12.84	5.42%	3.12%	-23.15%	157.45%
NWN	73 Outperform	$2.04B	19.58	7.20%	3.99%	11.27%	20.04%
CPK	73 Outperform	$3.25B	24.34	9.13%	1.99%	17.15%	15.00%
OGS	72 Outperform	$4.91B	19.08	8.51%	3.21%	15.06%	12.27%
SR	68 Neutral	$5.20B	20.17	8.20%	3.61%	-4.50%	2.49%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
CTRI	51 Neutral	$1.75B	-533.60	0.45%	―	―	―

Centuri Holdings, Inc. Corporate Events

Centuri Holdings Announces Underwritten Offering to Raise Funds

Centuri Holdings, Inc. announced an underwritten offering on November 12, 2025, involving the sale of 7,441,860 shares of its common stock at $21.50 per share, with an option for underwriters to purchase additional shares. The offering is expected to close on November 14, 2025, and aims to raise funds for general corporate purposes, including acquisitions and debt repayment. Concurrently, the company entered a private placement agreement with Icahn Partners LP and Icahn Partners Master Fund LP on November 11, 2025, to sell approximately $75 million of common stock, with the transaction expected to close immediately after the offering. This strategic financial maneuver is designed to bolster Centuri Holdings’ capital structure and enhance its market position.

The most recent analyst rating on (CTRI) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Centuri Holdings, Inc. stock, see the CTRI Stock Forecast page.

Centuri Holdings Appoints New Board Member Amid Icahn Deal

On November 10, 2025, Centuri Holdings, Inc. entered into a Director Appointment and Nomination Agreement with Carl C. Icahn’s group, leading to the appointment of Dustin DeMaria to its Board of Directors. This strategic move is part of Centuri’s efforts to enhance its board’s expertise and strengthen its market position in response to the growing demand for power infrastructure across North America. With DeMaria’s appointment, Centuri’s board expands to eight members, six of whom are independent, reflecting the company’s commitment to governance and shareholder value. The agreement includes customary standstill and voting commitments, ensuring a collaborative relationship with Icahn Enterprises.

The most recent analyst rating on (CTRI) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Centuri Holdings, Inc. stock, see the CTRI Stock Forecast page.

Centuri Holdings Reports Revenue Growth Amid Challenges

Centuri Holdings, Inc. is a North American utility infrastructure services company that partners with regulated utilities to maintain, upgrade, and expand energy networks. The company operates in the utility infrastructure sector, focusing on electric and natural gas distribution and transmission networks. In its latest earnings report, Centuri Holdings, Inc. reported a total revenue of $850 million for the third quarter of 2025, reflecting an increase from the previous year. Despite the revenue growth, the company faced a net loss of $7.8 million for the nine months ended September 28, 2025, compared to a loss of $17 million in the same period the previous year. Key financial highlights include an increase in gross profit to $78 million and a rise in selling, general, and administrative expenses to $35 million. The company also reported significant capital expenditures, primarily in the U.S. Gas and Non-Union Electric segments, indicating ongoing investments in infrastructure. Looking ahead, Centuri Holdings, Inc. remains focused on leveraging its position to meet the growing demand for utility infrastructure services, while navigating challenges such as rising costs and economic uncertainties.

Centuri Holdings Reports Record Q3 Revenue Amid Challenges

Centuri Holdings, Inc. recently held its third-quarter earnings call, revealing a strong performance with record revenue and significant growth in its base business and bookings. Despite these achievements, the company faced challenges such as a decline in gross profit margins, negative free cash flow, and a reduced EBITDA guidance due to storm activity.

Centuri Holdings Completes Major Stock Sale Agreement

On September 3, 2025, Centuri Holdings, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC and Southwest Gas Holdings, Inc. for the sale of 27,362,210 shares of Centuri’s common stock by the selling stockholder. The offering closed on September 5, 2025, with the selling stockholder divesting all its shares and relinquishing certain governance rights, including director nomination and consent rights over corporate actions. The agreement also included a 30-day lock-up period for selling or transferring Centuri stock without underwriter consent.

The most recent analyst rating on (CTRI) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Centuri Holdings, Inc. stock, see the CTRI Stock Forecast page.