Quanta Services, Inc. (PWR) Stock

Quanta Services, Inc. (PWR) is a Industrials stock trading at $639.35 (as of 2026-08-21), with a market capitalization of $95.94B and a trailing P/E of 77.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Quanta Services, Inc. is a specialty contractor providing engineering, procurement, construction, upgrades, repairs, and maintenance for electric power transmission and distribution infrastructure and related systems. It also performs similar services for renewable generation facilities such as wind, solar, and hydropower, including battery storage, serving customers worldwide.

Understand Quanta Services, Inc.: how it makes money

Quanta Services provides specialty contracting for electric power and other utility infrastructure, earning revenue by designing, procuring, constructing, upgrading, repairing, and maintaining transmission and distribution, substations, smart grid technologies, and related commercial and industrial wiring.

Profitability and growth are tied to converting a large backlog, 'Remaining Performance Obligations' of $26.2B, into executed work using a high 'Self-Perform Rate' of 85%.

Revenue by segment (latest quarter)
Electric Power	$4.9B
Renewables	$2.0B
Underground Utility	$1.3B

Business quality (Mixed): The company has project visibility through a large performance obligation backlog, and it self-performs much of its work, but reported profitability in the latest quarter is modest (operating margin 4.3%), so execution quality and project mix matter.

Valuation: At 94× earnings, PWR trades 214% above the Construction average (30×). Note: one-time items can distort reported P/E.

Bull case

Backlog supports visibility: Remaining Performance Obligations are $26.2B, providing a large pool of future contracted work.
Scale to execute with internal labor: The company reports a high Self-Perform Rate of 85%, suggesting it relies substantially on its own workforce to deliver projects.
Diversified utility-related end markets: Latest quarter segment revenue spans Electric Power (4.9B), Renewables (2.0B), and Underground Utility (1.3B).

Bear case

Modest margins: Latest quarter gross margin is 14.1% and operating margin is 4.3%, leaving limited room for execution issues.
Backlog conversion risk: Because revenue depends on executing contracted work, delays, customer changes, or project underperformance could affect results versus the backlog outlook.
Cyclical project timing and disruption: Work such as restoration is event-driven, and timing of project starts or restorations can create variability in revenue and utilization.

Valuation — source: SEC EDGAR (first-party)
Price	$639.35
Market Cap	$95.94B
P/E Ratio	77.2
EV / EBITDA	36.3
Price / Book	9.85
Price / Sales	2.91
FCF Yield	2.2%
DCF Value (model)	$107.02
DCF Upside vs Price	-83.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$28.48B
Net Margin	3.6%
Revenue Growth (YoY)	20.3%
EPS Growth (YoY)	12.2%
FCF Growth (YoY)	9.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	5.40 (safe)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	77.2
Sector P/E (Industrials)	25.9
Industry P/E (Construction)	23.8
vs Sector	198.6%
vs Industry	224.3%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($7.71B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Industrials
Industry	Construction
CEO	Earl C. Austin Jr.
Employees	58,400
Country	US
IPO Date	1998-02-12

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.