Quanta Services (PWR)
NYSE:PWR
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Quanta Services
(NYSE:PWR)
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Rating:77Outperform
Price Target:
$826.00
▲(37.24% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by strong financial quality (notably improved balance-sheet leverage and solid free cash flow) and a highly positive earnings outlook with raised 2026 guidance and record backlog. These positives are tempered by expensive valuation (high P/E, minimal yield) and technically stretched momentum signals that increase near-term pullback risk.
Positive Factors
Strengthened balance sheet
Material deleveraging and a low debt-to-equity ratio provide durable financial flexibility. With debt reduced to roughly $1.1B and equity ~ $9B, Quanta can fund capex, M&A or absorb cyclical project slowdowns without stressing liquidity, supporting multi-year strategic initiatives.
Negative Factors
Thin net margins
Relatively thin, stable margins limit the company's cushion against cost inflation or adverse project mix. In a project-driven business, low net margins reduce resilience to overruns and constrain free-cash-flow expansion even with rising revenues, making profits sensitive to execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened balance sheet
Material deleveraging and a low debt-to-equity ratio provide durable financial flexibility. With debt reduced to roughly $1.1B and equity ~ $9B, Quanta can fund capex, M&A or absorb cyclical project slowdowns without stressing liquidity, supporting multi-year strategic initiatives.
Read all positive factors
Quanta Services (PWR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$109.21B
Dividend Yield0.09%
Average Volume (3M)1.06M
Price to Earnings (P/E)88.8
Beta (1Y)1.30
Revenue Growth21.09%
EPS Growth17.37%
CountryUS
Employees58,400
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.68
Shares Outstanding150,056,720
10 Day Avg. Volume840,888
30 Day Avg. Volume1,057,051
Financial Highlights & Ratios
PEG Ratio5.40
Price to Book (P/B)7.16
Price to Sales (P/S)2.26
P/FCF Ratio39.50
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit23.32
Enterprise Value/Ebitda39.54
Forecast
1Y Price Target
$706.50Price Target Upside17.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering19
EPS Forecast (FY)13.68
Revenue Forecast (FY)$34.46B
Quanta Services Business Overview & Revenue Model
Company Description
Quanta Services, Inc. provides specialty contracting services worldwide. The Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and dist...
How the Company Makes Money
Quanta Services generates revenue primarily by performing contracted infrastructure services for customers such as electric utilities, renewable energy developers, communications/network operators, and industrial clients. Its core revenue model is...
Quanta Services Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across different business segments, revealing which areas drive growth and how diversified the company's income streams are.
Breaks down sales across different business segments, revealing which areas drive growth and how diversified the company's income streams are.
Data provided by:
The Fly
The FlyQuanta Services Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive outlook: strong Q1 operating and financial performance, record backlog, raised 2026 guidance, and major strategic investments to derisk supply chains and expand capacity. Executives emphasized durable, programmatic demand across transmission, generation and data-center-related markets and reiterated aggressive long-term EPS growth targets. Manageable near-term concerns include unchanged free cash flow guidance, supply-chain and permitting/interconnection risks, a cautious stance on certain combined-cycle risks, and pockets of slower performance (notably Canada). Overall, the positive drivers — robust results, backlog, raised guidance and targeted capacity investments — materially outweigh the highlighted challenges.Positive Updates
Strong Quarterly Financial Results
Q1 2026 revenue of $7.9 billion; net income attributable to common stock of $221 million ($1.45 per diluted share); adjusted diluted EPS of $2.68; adjusted EBITDA of $686 million. Management characterized results as "robust double-digit growth" in revenues, adjusted EBITDA and adjusted EPS.
Negative Updates
Free Cash Flow Guidance Left Unchanged
Despite a strong Q1 and raised earnings guidance, management left 2026 free cash flow guidance unchanged from the prior range, citing early stage of year; CFO noted greater confidence in being at the higher end but did not formally update the range.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Quarterly Financial Results
Q1 2026 revenue of $7.9 billion; net income attributable to common stock of $221 million ($1.45 per diluted share); adjusted diluted EPS of $2.68; adjusted EBITDA of $686 million. Management characterized results as "robust double-digit growth" in revenues, adjusted EBITDA and adjusted EPS.
Read all positive updates
Company Guidance
Quanta raised its 2026 outlook after a strong Q1 (revenues $7.9B; net income $221M or $1.45 per diluted share; adjusted diluted EPS $2.68; adjusted EBITDA $686M), with record backlog of $48.5B and book‑to‑bill ~1.6x; full‑year guidance was increased to revenues $34.7–$35.2B, adjusted EBITDA $3.49–$3.65B and adjusted EPS $13.55–$14.25. Management reiterated a medium‑term objective of 15–20% adjusted EPS growth and an ambition to more than double earnings power by 2030, will maintain an investment‑grade balance sheet with target leverage of 1.5–2.0x, plans $500–$700M of investment to double transformer capacity and expand off‑site manufacturing to roughly 6.7M sq ft, and left free cash‑flow guidance unchanged (previously given as a ~$500M range) while expressing greater confidence toward the high end.Quanta Services Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.99B | 28.35B | 23.67B | 20.88B | 17.07B | 12.98B |
| Gross Profit | 4.08B | 3.69B | 3.13B | 2.65B | 2.18B | 1.79B |
| EBITDA | 2.40B | 2.52B | 2.16B | 1.77B | 1.47B | 1.11B |
| Net Income | 1.12B | 1.03B | 904.82M | 744.69M | 491.19M | 485.96M |
Balance Sheet | ||||||
| Total Assets | 25.75B | 24.93B | 18.68B | 16.24B | 13.46B | 12.86B |
| Cash, Cash Equivalents and Short-Term Investments | 364.76M | 439.51M | 741.96M | 1.29B | 428.50M | 229.10M |
| Total Debt | 1.12B | 1.19B | 4.48B | 4.46B | 3.98B | 4.00B |
| Total Liabilities | 16.60B | 15.90B | 11.35B | 9.95B | 8.07B | 7.74B |
| Stockholders Equity | 9.04B | 8.94B | 7.32B | 6.27B | 5.38B | 5.11B |
Cash Flow | ||||||
| Free Cash Flow | 1.68B | 1.62B | 1.48B | 1.14B | 701.53M | 195.67M |
| Operating Cash Flow | 2.38B | 2.23B | 2.08B | 1.58B | 1.13B | 582.39M |
| Investing Cash Flow | -3.53B | -3.83B | -2.29B | -989.65M | -617.19M | -2.90B |
| Financing Cash Flow | 974.17M | 1.27B | -305.64M | 268.50M | -311.07M | 2.36B |
Quanta Services Technical Analysis
Positive
601.88
Price Trends
556.94
Positive
503.26
Positive
454.74
Positive
Market Momentum
11.86
Negative
64.54
Neutral
86.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PWR, the sentiment is Positive. The current price of 601.88 is above the 20-day moving average (MA) of 569.90, above the 50-day MA of 556.94, and above the 200-day MA of 454.74, indicating a bullish trend. The MACD of 11.86 indicates Negative momentum. The RSI at 64.54 is Neutral, neither overbought nor oversold. The STOCH value of 86.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PWR.
Quanta Services Risk Analysis
Quanta Services disclosed 47 risk factors in its most recent earnings report. Quanta Services reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Quanta Services Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $39.63B | 27.22 | 39.04% | 0.16% | 18.31% | 31.81% | |
80 Outperform | $64.78B | 32.77 | 51.69% | 0.20% | 38.43% | 107.64% | |
77 Outperform | $109.21B | 88.83 | 12.60% | 0.09% | 21.09% | 17.37% | |
72 Outperform | $31.06B | 90.00 | 13.08% | ― | 22.59% | 111.23% | |
71 Outperform | $19.96B | 85.61 | 9.13% | ― | 14.55% | -303.35% | |
66 Neutral | $12.43B | 37.65 | 18.81% | ― | 17.95% | 21.09% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
PWR
Quanta Services
742.21
419.90
130.28%
FIX
Comfort Systems
1,867.02
1,432.96
330.13%
DY
Dycom
433.60
250.64
136.99%
EME
EMCOR Group
903.50
468.34
107.63%
MTZ
MasTec
417.41
273.84
190.74%
APG
APi Group
45.94
17.37
60.82%
Quanta Services Corporate Events
Business Operations and StrategyFinancial Disclosures
Quanta Services Reports Record Q1 Results, Raises 2026 Outlook
Positive
Apr 30, 2026
Quanta Services reported record first-quarter 2026 results on April 30, 2026, with revenue rising to $7.87 billion from $6.23 billion a year earlier and net income attributable to common stock increasing to $220.6 million, or $1.45 per diluted sha...
Business Operations and StrategyExecutive/Board Changes
Quanta Services Grants New Long-Term Performance Stock Awards
Positive
Apr 16, 2026
On April 10, 2026, Quanta Services’ compensation committee approved long-term performance stock unit awards for senior leaders, including key named executive officers, tied to a five-year performance period ending December 31, 2030. The awar...
Business Operations and Strategy
Quanta Services Adopts 2026 Performance-Based Incentive Framework
Positive
Mar 4, 2026
On February 26, 2026, Quanta Services’ board Compensation Committee approved a 2026 incentive framework comprising an annual incentive plan for corporate staff, a long-term incentive plan for senior leadership and a discretionary plan for al...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Quanta Services Posts Record 2025 Results, Backlog Surges
Positive
Feb 19, 2026
Quanta Services reported record fourth-quarter and full-year 2025 results on Feb. 19, 2026, with quarterly revenue rising to $7.84 billion and net income attributable to common stock reaching $315.5 million, alongside record adjusted EBITDA, cash ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.