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: 1.44
• Enterprise Value/Gross Profit: 18.78
• Enterprise Value/Ebitda: 22.37
• 1Y Price Target: $25.67
• Price Target Upside: 20.18% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $22.00 ▲(3.00% Upside)

Centuri Holdings, Inc. faces significant financial challenges, reflected in its low financial performance score. The technical analysis and valuation also present concerns, with mixed signals and a negative P/E ratio. However, the earnings call provided some optimism with record revenue and strategic growth initiatives. Overall, the stock score reflects the need for financial improvement and cautious optimism based on future growth potential.

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, Inc. generates revenue primarily through contracts with utility companies and municipalities for the construction, maintenance, and repair of natural gas and electric power infrastructure. The company offers a range of services, including pipeline and cable installation, maintenance, and emergency repair services. Revenue is largely driven by long-term service agreements, project-based contracts, and strategic partnerships with key players in the utility sector. Additionally, Centuri Holdings benefits from regulatory and industry trends emphasizing infrastructure upgrades and renewable energy integration, which contribute to steady demand for their services.

Centuri Holdings, Inc. Financial Statement Overview

Summary

Centuri Holdings, Inc. is facing financial difficulties with declining revenue, negative profitability, and a weakened balance sheet. The income statement shows declining revenues and negative net profit margins, while the balance sheet reveals zero stockholders' equity, indicating potential financial instability. Cash flow analysis shows some resilience, but overall financial performance is concerning.

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	2.08B	2.64B	2.90B	2.76B	2.16B
Gross Profit	159.41M	220.67M	273.44M	180.05M	186.05M
EBITDA	133.86M	241.46M	85.32M	67.50M	229.05M
Net Income	-7.79M	-6.72M	-186.18M	-168.15M	40.51M
Balance Sheet
Total Assets	2.18B	2.07B	2.19B	2.56B	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	2.01B	1.89B
Stockholders Equity	585.17M	555.55M	225.99M	386.75M	479.61M
Cash Flow
Free Cash Flow	-74.51M	58.90M	60.81M	-34.96M	-937.00K
Operating Cash Flow	-5.77M	158.23M	167.47M	94.63M	109.48M
Investing Cash Flow	-64.16M	-89.38M	-94.85M	-156.71M	-916.58M
Financing Cash Flow	36.95M	-52.62M	-103.45M	12.20M	883.54M

Centuri Holdings, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.36
• 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 21.36 is above the 20-day moving average (MA) of 20.48, above the 50-day MA of 21.02, and above the 200-day MA of 20.04, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.53 is Neutral, neither overbought nor oversold. The STOCH value of 48.80 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
NWN	73 Outperform	$1.91B	18.46	7.20%	4.21%	11.27%	20.04%
OGS	72 Outperform	$4.91B	19.08	8.51%	3.28%	15.06%	12.27%
SR	72 Outperform	$5.22B	19.11	8.37%	3.54%	-6.65%	11.47%
CPK	66 Neutral	$3.10B	23.48	9.25%	1.99%	19.02%	20.13%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
SWX	63 Neutral	$5.69B	12.31	5.42%	3.15%	-23.15%	157.45%
CTRI	51 Neutral	$1.75B	-533.60	0.45%	―	―	―

Centuri Holdings, Inc. Corporate Events

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.

Centuri Holdings Enters Underwriting Agreement with J.P. Morgan

On August 6, 2025, Centuri Holdings, Inc. entered into a Registration Rights Letter Agreement with Icahn Investors, granting them certain resale registration rights for shares sold in a Concurrent Private Placement. The company agreed to register the resale of these shares by November 19, 2025. Additionally, on August 7, 2025, Centuri Holdings entered into an Underwriting Agreement with J.P. Morgan Securities LLC and other underwriters, which included a 30-day lock-up period for selling or transferring Centuri Common Stock without consent. These agreements are part of Centuri’s strategic financial maneuvers, impacting its stock liquidity and market operations.

The most recent analyst rating on (CTRI) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Centuri Holdings, Inc. stock, see the CTRI Stock Forecast page.

Centuri Holdings Reports Q2 2025 Results and Updates Outlook

Centuri Holdings, Inc. is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network across the United States and Canada.