QUANTA SERVICES, INC.

PWR 10-K · FY 2025

PWR FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 28,479,697 23,672,795 +20.3%
Show Business Segments breakouts
Electric 23,001,468 19,012,379 +21.0%
Underground and Infrastructure 5,478,229 4,660,416 +17.5%
Show Geography breakouts
AU 779,532 666,870 +16.9%
CA 1,018,752 1,025,074 -0.6%
Others 198,450 374,044 -46.9%
US 26,482,963 21,606,807 +22.6%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 163.2 226.2 -27.9%
Show Contract With Customer Basis Of Pricing breakouts
Cost-plus contracts 4,430,480 3,889,760 +13.9%
Fixed Price Contract 17,258,996 13,307,321 +29.7%
Unit-price contracts 6,790,221 6,475,714 +4.9%
Cost of Revenue 24,204,616 20,162,034 +20.1%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 527.8 411.4 +28.3%
Gross Profit 4,275,081 3,510,761 +21.8%
Income Loss From Equity Method Investments Integral Unconsolidated Affiliates 55,635 50,484 +10.2%
Show Business Segments breakouts
Electric 55,635 50,484 +10.2%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Unconsolidated Affiliates · Related Party 55.6 50.5 +10.1%
Selling, General & Administrative -2,189,209 -1,824,754 -20.0%
Amortization Of Intangible Assets -498,795 -382,959 -30.2%
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 -31,203 -7,064 -341.7%
Operating Income 1,611,509 1,346,468 +19.7%
Interest Expense -261,445 -202,687 -29.0%
Interest Income 15,702 32,404 -51.5%
Other Non-Operating Income (Expense) 23,739 35,845 -33.8%
Income Before Taxes 1,389,505 1,212,030 +14.6%
Income Tax Expense (Benefit) 347,588 284,747 +22.1%
Net Income 1,041,917 927,283 +12.4%
Show Equity Components breakouts
Noncontrolling Interest 13,539 22,459 -39.7%
Parent 1,028,378 904,824 +13.7%
Retained Earnings 1,028,378 904,824 +13.7%
Net Income Loss Attributable To Noncontrolling Interest 13,539 22,459 -39.7%
Net Income 1,028,378 904,824 +13.7%
EPS (Basic) 6.91 6.16 +12.2%
EPS (Diluted) 6.8 6.03 +12.8%
Wtd Avg Shares (Basic) 148,790 146,929 +1.3%
Wtd Avg Shares (Diluted) 151,291 150,056 +0.8%
Comprehensive Income 1,093,875 815,061 +34.2%
Net Income Loss Available To Common Stockholders Basic 1,028,378 904,824 +13.7%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 439,508 741,960 -40.8%
Show Cash And Cash Equivalents breakouts
Held by Captive Insurance Company 19,595 19,445 +0.8%
Held by Domestic Joint Ventures 63,620 71,646 -11.2%
Held by Foreign Joint Ventures 10,639 10,088 +5.5%
Held by Joint Ventures 74,259 81,734 -9.1%
Not Held By Joint Ventures Or Captive Insurance Company 345,654 640,781 -46.1%
Accounts Receivable 6,847,091 5,170,935 +32.4%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 165 133.3 +23.8%
Contract With Customer Asset Net Current 1,522,186 1,208,619 +25.9%
Inventory 370,372 260,181 +42.4%
Prepaid Expenses & Other Current Assets 724,260 469,338 +54.3%
Total Current Assets 9,903,417 7,851,033 +26.1%
Non-Current Assets
Operating Lease Right-of-Use Assets 400,814 299,895 +33.7%
Other Non-Current Assets 944,050 655,709 +44.0%
Goodwill 7,317,228 5,316,443 +37.6%
Show Business Segments breakouts
Electric 5,133,696 4,473,087 +14.8%
Underground and Infrastructure 2,183,532 843,356 +158.9%
Show Business Acquisition breakouts
2025 Acquisitions, Excluding Dynamic Systems 993,574
Dynamic Systems, LLC 984,322
Total Assets 24,926,901 18,683,894 +33.4%
Property, Plant & Equipment (Q)
Show Geography breakouts
Non Us 211.9 177.9 +19.1%
Intangible Assets 2,903,188 1,857,537 +56.3%
Show Finite Lived Intangible Assets By Major Class breakouts
Curriculum 4,457 5,140 -13.3%
Customer Relationships 2,059,832 1,300,507 +58.4%
Developed Technology Rights 2,273 2,554 -11.0%
Noncompete Agreements 34,268 10,136 +238.1%
Order Or Production Backlog 164,064 83,863 +95.6%
Trade Names 638,294 455,337 +40.2%
Deferred Tax Assets 92,448 63,103 +46.5%
Other Assets
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization 3,455,204 2,700,277 +28.0%
Intangible Assets Net Excluding Goodwill 2,906,188 1,860,537 +56.2%
Current Liabilities
Debt Current 763,898 62,680 +1118.7%
Operating Lease Liability Current 114,377 94,162 +21.5%
Accounts Payable And Accrued Liabilities Current 4,579,458 3,722,343 +23.0%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 20.3 15.4 +31.8%
Deferred Revenue (Current) 3,258,465 2,149,328 +51.6%
Total Current Liabilities 8,716,198 6,028,513 +44.6%
Commercial Paper (Q)
Show Debt Instrument breakouts
Commercial Paper Program · Commercial Paper 316,000
Non-Current Liabilities
Operating Lease Liabilities 309,671 222,359 +39.3%
Deferred Tax Liabilities 502,626 353,268 +42.3%
Other Non-Current Liabilities 1,139,524 650,281 +75.2%
Show Loss Contingencies By Nature Of Contingency breakouts
Employer's Liability, Workers' Compensation, Auto Liability, General Liability and Group Health Care Claims 334.6 263.3 +27.1%
Total Liabilities 15,899,027 11,354,177 +40.0%
Long-Term Debt (Q)
Show Debt Instrument breakouts
2.35% Senior Notes due January 2032 · Senior Notes 500,000 500,000 0.0%
2.90% Senior Notes due October 2030 · Senior Notes 1,000,000 1,000,000 0.0%
3.05% Senior Notes due October 2041 · Senior Notes 500,000 500,000 0.0%
4.30% Senior Notes due August 2028 · Senior Notes 500,000
4.50% Senior Notes due January 2031 · Senior Notes 500,000
4.75% Senior Notes due August 2027 · Senior Notes 600,000 600,000 0.0%
5.10% Senior Notes due August 2035 · Senior Notes 500,000
5.25% Senior Notes due August 2034 · Senior Notes 650,000 650,000 0.0%
Show Long-Term Debt Type breakouts
Senior Notes 4.71
Other Liabilities
Long Term Debt And Capital Lease Obligations 5,231,008 4,099,756 +27.6%
Stockholders' Equity
Common Stock 2 2 0.0%
Additional Paid In Capital Common Stock 4,278,741 3,444,108 +24.2%
Retained Earnings 6,673,990 5,707,286 +16.9%
Accumulated Other Comprehensive Income -307,211 -372,708 +17.6%
Treasury Stock Common Value -1,707,273 -1,460,957 -16.9%
Total Stockholders' Equity 8,938,249 7,317,731 +22.1%
Minority Interest 89,625 11,986 +647.7%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 9,027,874 7,329,717 +23.2%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -307,211 -372,708 +17.6%
Additional Paid In Capital 4,278,741 3,444,108 +24.2%
Common Stock 2 2 0.0%
Noncontrolling Interest 89,625 11,986 +647.7%
Parent 8,938,249 7,317,731 +22.1%
Retained Earnings 6,673,990 5,707,286 +16.9%
Treasury Stock Common -1,707,273 -1,460,957 -16.9%
Total Liabilities & Equity 24,926,901 18,683,894 +33.4%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation 411,538 359,363 +14.5%
Stock-Based Compensation 181,947 150,526 +20.9%
Show Consolidation Items breakouts
Corporate Non Segment 181.9 150.5 +20.9%
Show Award Type breakouts
PSUs 40.5 36.5 +11.0%
Restricted Stock Units to be Settled in Common Stock 141.4 114 +24.0%
Other Operating Activities Cash Flow Statement 79,795 14,899 +435.6%
Increase Decrease In Accounts And Notes Receivable -853,835 -428,127 -99.4%
Increase Decrease In Contract With Customer Asset -217,627 255,744 -185.1%
Change in Inventory -121,743 -39,517 -208.1%
Change in Prepaid & Other Assets -240,515 40,356 -696.0%
Increase Decrease In Other Accounts Payable And Accrued Liabilities 654,961 52,421 +1149.4%
Change in Deferred Revenue 824,454 373,622 +120.7%
Increase Decrease In Other Operating Capital Net -29,717 -8,333 -256.6%
Net Cash from Operations 2,229,970 2,081,196 +7.1%
Deferred Income Taxes 37,603 -8,325 +551.7%
Investing Activities
Capital Expenditures -609,154 -604,078 -0.8%
Proceeds From Sale Of Property Plant And Equipment And Insurance Settlement 51,916 77,643 -33.1%
Payments To Acquire Other Productive Assets -103,370
Payments To Acquire Businesses Net Of Cash Acquired -3,052,116 -1,745,735 -74.8%
Payments To Acquire Investments -148,900 -81,871 -81.9%
Proceeds From Sale Maturity And Collections Of Investments 17,012 29,239 -41.8%
Other Investing Activities 13,638 30,483 -55.3%
Net Cash from Investing -3,830,974 -2,294,319 -67.0%
Financing Activities
Proceeds From Long Term Lines Of Credit 53,033,943 19,884,184 +166.7%
Repayments Of Long Term Lines Of Credit -52,778,666 -20,714,993 -154.8%
Proceeds From Notes Payable 1,488,995 1,238,741 +20.2%
Payment For Contingent Consideration Liability Financing Activities -102,558
Tax Withholding for Share Compensation -112,299 -155,550 +27.8%
Payments Of Dividends Common Stock -60,416 -54,196 -11.5%
Share Repurchases -134,555
Proceeds From Payments For Other Financing Activities -59,460 -3,822 -1455.7%
Net Cash from Financing 1,274,984 -305,636 +517.2%
Supplemental
Income Taxes Paid -347,197
Interest Paid -217,358 -166,333 -30.7%
Unpaid Capital Expenditures 26.9 27.3 -1.5%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 22,833 -30,272 +175.4%
Net Change in Cash -303,187 -549,031 +44.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 442,823 746,010 -40.6%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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