Is the business good?
How good a business is PWR?
Quanta Services earns 11% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
11%
Return on invested capital · cost of capital 9.0% · 1.6 points above what the capital costs: growth creates value
- Operating margin
- 6.2%
Operating margin · Engineering & Construction median 7.4% · 12 months to Q2 2026
- Cash conversion
- 1.77×
Cash conversion · 1.37× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +1.0%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 5.5% |
| FY2021 | 5.1% |
| FY2022 | 5.1% |
| FY2023 | 5.4% |
| FY2024 | 5.7% |
| FY2025 | 5.7% |
Details›
- Gross margin12 months to Q2 2026
- 15%
- Operating margin12 months to Q2 2026
- 6.2%
- Net margin12 months to Q2 2026
- 4.1%
- Free cash flow margin
- 7.3%
- Revenue, trailing twelve months
- $32.9B
- Free cash flow, trailing twelve months
- $2.39B
- Net income, trailing twelve months
- $1.35B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Engineering & Construction
Ranks #22 of 27 by Smart Score