Latest Ratios: P/E Ratio 94.5x · EV/EBITDA 41.3x · ROE 12.6%. (1997–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $96.4B | $64.0B | $47.4B | $32.1B | $21.1B | $16.7B | $10.5B | $6.0B | $4.6B | $6.1B | $5.5B |
| Enterprise Value | $102.4B | $70.0B | $51.2B | $35.3B | $24.6B | $20.4B | $11.7B | $7.5B | $5.7B | $6.7B | $5.7B |
| P/E Ratio → | 94.50 | 62.07 | 52.41 | 43.16 | 42.92 | 34.33 | 23.46 | 14.91 | 15.84 | 19.55 | 27.66 |
| P/S Ratio | 3.40 | 2.26 | 2.00 | 1.54 | 1.24 | 1.28 | 0.93 | 0.50 | 0.42 | 0.65 | 0.72 |
| P/B Ratio | 10.80 | 7.09 | 6.47 | 5.11 | 3.91 | 3.26 | 2.41 | 1.48 | 1.29 | 1.62 | 1.64 |
| P/FCF | 59.50 | 39.50 | 32.11 | 28.14 | 30.06 | 85.19 | 12.23 | 22.73 | 91.48 | 48.08 | 32.71 |
| P/OCF | 43.24 | 28.71 | 22.79 | 20.38 | 18.66 | 28.62 | 9.37 | 11.41 | 12.94 | 16.50 | 14.42 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.47 | 2.16 | 1.69 | 1.44 | 1.57 | 1.05 | 0.62 | 0.51 | 0.71 | 0.75 |
| EV / EBITDA | 41.25 | 28.20 | 24.60 | 20.19 | 15.40 | 18.58 | 12.51 | 8.69 | 6.81 | 10.31 | 10.67 |
| EV / EBIT | 62.56 | 41.88 | 36.16 | 30.50 | 29.74 | 29.55 | 19.03 | 11.73 | 11.46 | 17.83 | 17.76 |
| EV / FCF | — | 43.19 | 34.64 | 30.92 | 35.12 | 104.47 | 13.71 | 28.37 | 111.73 | 52.26 | 34.19 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.0% | 13.0% | 13.2% | 12.7% | 12.7% | 13.8% | 14.1% | 12.7% | 12.9% | 12.8% | 12.8% |
| Operating Margin | 5.8% | 5.8% | 5.6% | 5.4% | 5.6% | 5.2% | 5.7% | 4.8% | 5.2% | 4.6% | 4.4% |
| Net Profit Margin | 3.6% | 3.6% | 3.8% | 3.6% | 2.9% | 3.7% | 4.0% | 3.3% | 2.6% | 3.3% | 2.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.6% | 12.6% | 13.3% | 12.7% | 9.3% | 10.3% | 10.6% | 10.5% | 7.9% | 8.8% | 6.2% |
| ROA | 4.7% | 4.7% | 5.2% | 5.0% | 3.7% | 4.6% | 5.3% | 5.2% | 4.3% | 5.3% | 3.8% |
| ROIC | 9.4% | 9.4% | 9.8% | 9.2% | 8.0% | 7.0% | 8.5% | 8.6% | 9.8% | 8.2% | 7.1% |
| ROCE | 11.3% | 11.3% | 11.3% | 10.8% | 9.7% | 8.5% | 10.3% | 10.3% | 11.4% | 9.5% | 8.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.71 | 0.71 | 0.61 | 0.71 | 0.74 | 0.78 | 0.33 | 0.41 | 0.31 | 0.18 | 0.11 |
| Debt / EBITDA | 2.59 | 2.59 | 2.15 | 2.55 | 2.48 | 3.64 | 1.55 | 1.92 | 1.33 | 1.04 | 0.67 |
| Net Debt / Equity | — | 0.66 | 0.51 | 0.51 | 0.66 | 0.74 | 0.29 | 0.37 | 0.28 | 0.14 | 0.07 |
| Net Debt / EBITDA | 2.41 | 2.41 | 1.80 | 1.82 | 2.22 | 3.43 | 1.35 | 1.73 | 1.23 | 0.82 | 0.46 |
| Debt / FCF | — | 3.69 | 2.53 | 2.78 | 5.06 | 19.28 | 1.48 | 5.64 | 20.25 | 4.17 | 1.49 |
| Interest Coverage | 6.39 | 6.39 | 6.98 | 6.19 | 6.66 | 10.04 | 13.69 | 9.56 | 13.39 | 17.89 | 21.67 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.14 | 1.14 | 1.30 | 1.47 | 1.63 | 1.50 | 1.68 | 1.69 | 1.84 | 1.92 | 1.90 |
| Quick Ratio | 1.09 | 1.09 | 1.26 | 1.44 | 1.59 | 1.47 | 1.65 | 1.67 | 1.78 | 1.87 | 1.83 |
| Cash Ratio | 0.05 | 0.05 | 0.12 | 0.25 | 0.13 | 0.07 | 0.09 | 0.07 | 0.04 | 0.09 | 0.09 |
| Asset Turnover | — | 1.14 | 1.27 | 1.29 | 1.27 | 1.01 | 1.33 | 1.45 | 1.58 | 1.46 | 1.43 |
| Inventory Turnover | 66.57 | 66.57 | 78.96 | 103.80 | 144.28 | 132.20 | 190.57 | 189.77 | 90.37 | 102.07 | 75.32 |
| Days Sales Outstanding | — | 107.75 | 98.36 | 101.80 | 101.64 | 118.21 | 103.28 | 100.93 | 95.78 | 95.71 | 94.14 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.3% | 0.4% | — | — | — |
| Payout Ratio | 5.9% | 5.9% | 6.0% | 6.4% | 8.4% | 7.0% | 6.5% | 5.8% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.6% | 1.9% | 2.3% | 2.3% | 2.9% | 4.3% | 6.7% | 6.3% | 5.1% | 3.6% |
| FCF Yield | 1.7% | 2.5% | 3.1% | 3.6% | 3.3% | 1.2% | 8.2% | 4.4% | 1.1% | 2.1% | 3.1% |
| Buyback Yield | 0.1% | 0.2% | 0.3% | 0.0% | 0.6% | 0.4% | 2.4% | 0.3% | 9.5% | 0.8% | 0.2% |
| Total Shareholder Yield | 0.2% | 0.3% | 0.4% | 0.1% | 0.8% | 0.6% | 2.6% | 0.7% | 9.5% | 0.8% | 0.2% |
| Shares Outstanding | — | $152M | $150M | $149M | $148M | $145M | $145M | $148M | $154M | $157M | $157M |
Includes 30+ ratios · 29 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PWR stock.
Quanta Services, Inc.'s current P/E ratio is 94.5x. The historical average is 33.3x. This places it at the 96th percentile of its historical range.
Quanta Services, Inc.'s current EV/EBITDA is 41.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
Quanta Services, Inc.'s return on equity (ROE) is 12.6%. The historical average is 5.8%.
Based on historical data, Quanta Services, Inc. is trading at a P/E of 94.5x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Quanta Services, Inc.'s current dividend yield is 0.06% with a payout ratio of 5.9%.
Quanta Services, Inc. has 13.0% gross margin and 5.8% operating margin.
Quanta Services, Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Execution and margin sustainability
Metrics are mathematically derived from official filings.
Premium Pricing for Hypergrowth
Quanta trades at 98.8x trailing earnings and 43.2x forward, versus EMCOR's 29.0x, implying the market expects sustained double-digit growth, as per recent filings.
The forward P/E of 43.2x is nearly double the sector median, suggesting investors are pricing in continued acceleration beyond the 41% revenue growth seen in 2026Q2. With a PEG of 5.73, the valuation appears stretched unless growth persists at unprecedented levels. The EV/EBITDA of 43.0x versus EMCOR's 19.5x highlights a significant premium that may be justified by Quanta's exposure to high-growth infrastructure and energy transition projects.
Margin Expansion Drives Earnings Power
Gross margin improved to 16.2% in 2026Q2 from 13.2% a year earlier, while operating margin reached 7.3%, as per financial statements, indicating enhanced project execution.
The sequential and year-over-year margin expansion suggests operating leverage is materializing as revenue scales. Net margin of 4.7% remains below EMCOR's 7.5%, but the trend is positive, with net income growing 96.9% year-over-year. Investors should monitor whether margin gains are sustainable given competitive pressures and potential cost inflation in the engineering and construction sector.
Returns on Capital Improving
ROIC rose to 3.4% in 2026Q2 from 1.2% in 2024Q1, as per reported figures, reflecting improved capital efficiency despite a goodwill-heavy balance sheet.
The improvement in ROIC is driven by both margin expansion and asset turnover, though the absolute level remains modest relative to peers like EMCOR (46.8% ROIC). The acquisition-driven growth has increased invested capital, but returns are still below the cost of capital, suggesting that recent M&A has yet to fully generate economic value. Continued improvement will depend on integrating acquisitions and realizing synergies.
Working Capital Cycle Lengthens
Cash conversion cycle extended to 48 days in 2026Q2 from 58 days a year earlier, as per balance sheet data, driven by slower collections and faster supplier payments.
DSO increased to 92 days from 86 days, while DPO rose to 49 days from 36 days, indicating Quanta is giving customers more time to pay but also stretching suppliers. The net effect is a shorter CCC, which is positive, but the rising DSO may signal collection challenges or a shift in project mix. Asset turnover remains stable at 0.35x, reflecting the capital-intensive nature of large infrastructure projects.
Leverage Creeps Higher Amid M&A
Debt-to-EBITDA rose to 6.81x in 2026Q2 from 6.80x a year earlier, while interest coverage improved to 9.39x, as per reported figures, indicating manageable but rising leverage.
The D/E ratio increased to 0.68 from 0.63, reflecting debt-funded acquisitions, but interest coverage remains comfortable at 9.39x, suggesting earnings can service debt. However, the absolute D/EBITDA of 6.81x is high for an industrial, and if EBITDA growth slows, leverage could become a constraint. Investors should monitor refinancing risk and the company's ability to integrate acquisitions without further debt accumulation.
Liquidity Tightens as Growth Accelerates
Current ratio fell to 1.10 in 2026Q2 from 1.36 in 2024Q1, as per balance sheet data, indicating tighter short-term coverage as current liabilities outpace assets.
The quick ratio of 1.05 suggests that even without inventory, Quanta can cover near-term obligations, but the declining trend warrants attention. The rapid growth in deferred revenue (to $4.2B) indicates strong backlog, but it also increases current liabilities. Under a severe stress scenario, the thin liquidity buffer could be strained, especially if collections slow or project delays occur.
P/E Misleads on Growth Potential
The trailing P/E of 98.8x overstates valuation because it ignores the 41% revenue growth and margin expansion, as per financial statements, making forward metrics more relevant.
Commonly, investors use trailing P/E for mature companies, but for Quanta, the forward P/E of 43.2x better reflects the earnings trajectory. The high PEG of 5.73 suggests the market expects growth to decelerate, but if growth persists, the multiple may be justified. A more appropriate metric is EV/EBITDA adjusted for acquisition-related intangibles, which provides a clearer picture of operating performance.