PWR
Quanta Services, Inc.
PWR's fundamentals are strong: revenue grew 37% and free cash flow more than doubled. At 55x earnings, it's trading above its usual 47x. Analysts expect that strong growth to continue, though they disagree widely on how much.
PWR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Healthy |
PWR's revenue, profitability, cash flow and balance sheet are all currently healthy.
PWR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $287 | -53% |
| Forward | 30x | $606 | — |
| Fair | 46x | $512 | -15% |
| Current | 55x | $606 | — |
| Expensive | 62x | $690 | +14% |
Historical ranges are pointers, not guarantees.
PWR's PE is in its expensive range at 55x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
PWR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for PWR, with profitability improving. However, they disagree widely on these estimates.
PWR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.51 | +86% |
| Q3 2026 | $11.04 | +64% |
| Q2 2026 | $8.73 | +35% |
| Q1 2026 | $7.29 | +18% |
| Q4 2025 | $6.80 | +13% |
| Q3 2025 | $6.75 | +25% |
| Q2 2025 | $6.46 | +22% |
| Q1 2025 | $6.20 | +20% |
| Q4 2024 | $6.03 | +21% |
PWR's earnings per share have climbed steadily: $11.04 over the past year, up 64% from the year before, and higher year over year for 15 quarters in a row.
PWR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12B | +57% |
| Q2 2026 | $9.6B | +41% |
| Q1 2026 | $7.9B | +26% |
| Q4 2025 | $7.8B | +20% |
| Q3 2025 | $7.6B | +18% |
| Q2 2025 | $6.8B | +21% |
| Q1 2025 | $6.2B | +24% |
| Q4 2024 | $6.6B | +13% |
PWR's revenue has grown year over year for 22 quarters in a row: $12B last quarter, up 57% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.5% | +1.8 points |
| Q2 2026 | 7.3% | +1.8 points |
| Q1 2026 | 4.3% | +0.5 points |
| Q4 2025 | 6.2% | -0.7 points |
| Q3 2025 | 6.8% | +0.1 points |
| Q2 2025 | 5.5% | 0 points |
| Q1 2025 | 3.8% | +0.8 points |
| Q4 2024 | 6.9% | +1.3 points |
PWR's operating margin was 8.5% last quarter, up 1.8 points from the same quarter a year ago, near the top of its range since 2019.
PWR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +182% |
| Q2 2026 | $864.5M | +456% |
| Q1 2026 | $171.7M | +55% |
| Q4 2025 | $934M | +65% |
| Q3 2025 | $421M | -20% |
| Q2 2025 | $155.4M | -32% |
| Q1 2025 | $110.4M | -29% |
| Q4 2024 | $565M | -37% |
PWR generated $3.2B in free cash flow over the past year, up 152% from the year before.
PWR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +254K shares |
| 1 year | +0.8% | +1.2M shares |
| 3 years | +2.6% | +3.9M shares |
| 5 years | +5.8% | +8.4M shares |
| Available history | +3.5% | +5.2M shares |
PWR has 153M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $16M |
| Q1 2025 | $118.6M |
| Q4 2023 | $350,000 |
PWR hasn't bought back shares in the past year.
PWR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.2x | Moderate |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 1.6x | Healthy |
PWR's net debt is about 1.3 years of its operating earnings (EBITDA), down from 2.0 years a year ago.
PWR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 37.2 | Neutral |
PWR's weekly RSI is 48 (neutral) and its Stochastic is 37 (neutral).
PWR PE vs Industrials Sector
| Metric | PWR | Sector median | Relative |
|---|---|---|---|
| PE | 55x | 24x | 129% above |
| PE % | 71 | 58 | 13 pts above |
PWR is trading at 55x earnings, a 129% premium to the Industrials sector's median of 24x.
PWR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $622.2 | 2.6% below |
| 20 week MA | $636.9 | 4.8% below |
| 50 week MA | $599.6 | 1.1% above |
| 100 week MA | $476.2 | 27% above |
| 200 week MA | $350.0 | 73% above |
PWR has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 73% above its 200-week average.
PWR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $40.8 | $70.9 | +74% |
| 2021 | $70.9 | $111.9 | +58% |
| 2022 | $111.9 | $144.2 | +29% |
| 2023 | $144.2 | $215.8 | +50% |
| 2024 | $215.8 | $323.1 | +50% |
| 2025 | $323.1 | $432.7 | +34% |
| 2026 YTD | $432.7 | $606.2 | +40% |
PWR has finished every year since 2020 higher, and it's up 40% so far in 2026.