Quanta Services, Inc. (PWR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-79.3%

$128.11

vs $619.77 price

Levered DCF

$314.82

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.35

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	61.44×	51.31×	42.07×	41.67×	33.23×	22.86×	14.75×	15.68×
P/B	7.16×	6.35×	5×	3.8×	3.16×	2.34×	1.46×	1.28×
P/S	2.26×	1.96×	1.5×	1.2×	1.24×	0.91×	0.49×	0.41×
EV / EBITDA	27.11×	23.26×	19.49×	16.29×	17.9×	12.47×	8.07×	7.6×
Gross margin	13.0%	13.2%	12.7%	12.7%	13.8%	14.1%	12.7%	12.9%
Operating margin	5.8%	5.6%	5.4%	5.6%	5.2%	5.7%	4.8%	5.2%
Net margin	3.6%	3.8%	3.6%	2.9%	3.7%	4.0%	3.3%	2.6%
Current ratio	1.14×	1.3×	1.47×	1.63×	1.5×	1.68×	1.69×	1.84×
Debt / equity	0.72×	0.61×	0.71×	0.74×	0.78×	0.33×	0.41×	0.31×
Interest coverage	6.26×	6.6×	6.07×	7.68×	9.86×	14.12×	8.7×	15.87×
Dividend yield	0.1%	0.1%	0.2%	0.2%	0.2%	0.3%	0.4%	0.0%
Payout ratio	5.9%	6.0%	6.4%	8.4%	7.0%	6.5%	5.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.5%	12.4%	11.9%	9.1%	9.5%	10.3%	9.9%	8.1%
Return on invested capital	7.1%	8.0%	7.5%	6.8%	5.5%	7.9%	6.6%	7.1%
Return on assets	4.1%	4.8%	4.6%	3.6%	3.8%	5.3%	4.8%	4.1%
Free cash flow yield	2.5%	3.2%	3.6%	3.4%	1.2%	8.4%	4.5%	1.1%
Earnings yield	1.6%	1.9%	2.4%	2.4%	3.0%	4.4%	6.8%	6.4%
Enterprise value	$70B	$50.2B	$34.5B	$24B	$19.9B	$11.5B	$7.4B	$5.6B
Net debt / EBITDA	2.32×	1.73×	1.79×	2.41×	3.39×	1.38×	1.62×	1.39×
Cash conversion cycle (days)	71	66	65	72	80	75	75	70