QUANTA SERVICES, INC.

PWR 10-Q · Q3 2025

PWR Q3 2025 request

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Income Statement

Income Statement
Metric Q3 2025 Q3 2024 YoY
Revenue 7,631,408 6,493,167 +17.5%
Show Business Segments breakouts
Electric 6,172,019 5,233,887 +17.9%
Underground and Infrastructure 1,459,389 1,259,280 +15.9%
Show Geography breakouts
AU 202,031 195,815 +3.2%
CA 275,644 329,066 -16.2%
Others 40,773 96,833 -57.9%
US 7,112,960 5,871,453 +21.1%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 36.9 58.5 -36.9%
Show Contract With Customer Basis Of Pricing breakouts
Cost-plus contracts 1,124,748 998,624 +12.6%
Fixed Price Contract 4,813,711 3,725,174 +29.2%
Unit-price contracts 1,692,949 1,769,369 -4.3%
Cost of Revenue 6,414,974 5,480,597 +17.0%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 168.8 114.2 +47.8%
Gross Profit 1,216,434 1,012,570 +20.1%
Income Loss From Equity Method Investments Integral Unconsolidated Affiliates 13,731 14,015 -2.0%
Show Business Segments breakouts
Electric 13,731 14,015 -2.0%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Unconsolidated Affiliates · Related Party 13.7 14 -2.1%
Selling, General & Administrative -572,950 -483,878 -18.4%
Amortization Of Intangible Assets -133,195 -110,422 -20.6%
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 -6,803 -1,124 -505.2%
Operating Income 517,217 431,161 +20.0%
Interest Expense -71,806 -59,950 -19.8%
Interest Income 3,722 7,237 -48.6%
Other Non-Operating Income (Expense) 13,311 2,994 +344.6%
Income Before Taxes 462,444 381,442 +21.2%
Income Tax Expense (Benefit) 119,605 82,421 +45.1%
Net Income 342,839 299,021 +14.7%
Show Equity Components breakouts
Noncontrolling Interest 3,419 5,836 -41.4%
Parent 339,420 293,185 +15.8%
Retained Earnings 339,420 293,185 +15.8%
Net Income Loss Attributable To Noncontrolling Interest 3,419 5,836 -41.4%
Net Income 339,420 293,185 +15.8%
EPS (Basic) 2.28 1.99 +14.6%
EPS (Diluted) 2.24 1.95 +14.9%
Wtd Avg Shares (Basic) 149,039 147,394 +1.1%
Wtd Avg Shares (Diluted) 151,496 150,556 +0.6%
Comprehensive Income 312,222 310,879 +0.4%
Net Income Loss Available To Common Stockholders Basic 339,420 293,185 +15.8%

Balance Sheet

Balance Sheet
Metric Q3 2025 Q3 2024 YoY
Current Assets
Cash & Cash Equivalents 610,387 764,067 -20.1%
Show Cash And Cash Equivalents breakouts
Cash and cash equivalents held by captive insurance company 24,412 19,319 +26.4%
Cash and cash equivalents held by domestic joint ventures 43,774 67,784 -35.4%
Cash and cash equivalents held by foreign joint ventures 10,035 10,687 -6.1%
Cash and cash equivalents not held by joint ventures or captive insurance company 532,166 666,277 -20.1%
Total cash and cash equivalents held by joint ventures 53,809 78,471 -31.4%
Accounts Receivable 6,356,064 5,149,915 +23.4%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 193.4 109 +77.4%
Contract With Customer Asset Net Current 1,563,919 1,328,833 +17.7%
Inventory 333,710 275,852 +21.0%
Prepaid Expenses & Other Current Assets 605,187
Total Current Assets 9,469,267 8,046,049 +17.7%
Non-Current Assets
Operating Lease Right-of-Use Assets 365,358 302,786 +20.7%
Other Non-Current Assets 903,536 619,139 +45.9%
Goodwill 6,701,458 5,282,170 +26.9%
Show Business Acquisition breakouts
Dynamic Systems, LLC 979,950
Series Of Individually Immaterial Business Acquisitions 386,378
Total Assets 22,743,766 18,866,300 +20.6%
Property, Plant & Equipment (Q)
Show Geography breakouts
Non Us 188.4 196.3 -4.0%
Intangible Assets 2,321,580
Long Term Investments 417,476
Other Assets
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization 2,979,567 2,649,467 +12.5%
Intangible Assets Net Excluding Goodwill 2,324,580 1,966,689 +18.2%
Current Liabilities
Debt Current 97,351 556,238 -82.5%
Operating Lease Liability Current 107,503 94,685 +13.5%
Accounts Payable And Accrued Liabilities Current 4,394,186
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 64.1
Deferred Revenue (Current) 2,445,429 1,875,388 +30.4%
Total Current Liabilities 7,044,469 6,525,338 +8.0%
Non-Current Liabilities
Operating Lease Liabilities 280,974 224,282 +25.3%
Deferred Tax Liabilities 451,829 337,025 +34.1%
Other Non-Current Liabilities 1,030,456 558,787 +84.4%
Show Loss Contingencies By Nature Of Contingency breakouts
Employer's Liability, Workers' Compensation, Auto Liability, General Liability and Group Health Care Claims 319.5 265.7 +20.2%
Total Liabilities 14,339,980 11,777,275 +21.8%
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 3.72 +26.6%
Other Liabilities
Long Term Debt And Capital Lease Obligations 5,532,252 4,131,843 +33.9%
Stockholders' Equity
Common Stock 2 2 0.0%
Additional Paid In Capital Common Stock 4,039,404 3,405,112 +18.6%
Retained Earnings 6,375,282 5,417,240 +17.7%
Accumulated Other Comprehensive Income -325,908 -305,049 -6.8%
Treasury Stock Common Value -1,693,002 -1,446,688 -17.0%
Total Stockholders' Equity 8,395,778 7,070,617 +18.7%
Minority Interest 8,008 18,408 -56.5%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 8,403,786 7,089,025 +18.5%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -325,908 -305,049 -6.8%
Additional Paid In Capital 4,039,404 3,405,112 +18.6%
Common Stock 2 2 0.0%
Noncontrolling Interest 8,008 18,408 -56.5%
Parent 8,395,778 7,070,617 +18.7%
Retained Earnings 6,375,282 5,417,240 +17.7%
Treasury Stock Common -1,693,002 -1,446,688 -17.0%
Total Liabilities & Equity 22,743,766 18,866,300 +20.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2025 YTD Q3 2024 YoY
Operating Activities
Depreciation 300,714 262,525 +14.5%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions -6,673 6,002 -211.2%
Deferred Income Taxes 73,433 -1,847 +4075.8%
Stock-Based Compensation 129,121 110,815 +16.5%
Show Consolidation Items breakouts
Corporate Non Segment 129.1 110.8 +16.5%
Show Award Type breakouts
Performance Stock Units (PSUs) to be settled in Common Stock 26.8 27.2 -1.5%
Restricted Stock Units (RSUs) to be Settled in Common Stock 102.3 83.6 +22.4%
Other Operating Activities Cash Flow Statement 24,822 -2,430 +1121.5%
Increase Decrease In Accounts And Notes Receivable -780,448 -399,501 -95.4%
Increase Decrease In Contract With Customer Asset -321,659 154,425 -308.3%
Change in Inventory -70,821 -50,732 -39.6%
Change in Prepaid & Other Assets -135,670 3,091 -4489.2%
Increase Decrease In Other Accounts Payable And Accrued Liabilities 701,740 331,260 +111.8%
Change in Deferred Revenue 124,823 77,205 +61.7%
Increase Decrease In Other Operating Capital Net -18,243 -5,775 -215.9%
Net Cash from Operations 1,102,405 1,369,181 -19.5%
Investing Activities
Capital Expenditures -415,560 -457,093 +9.1%
Proceeds From Sale Of Property Plant And Equipment And Insurance Settlement 39,439 67,230 -41.3%
Payments To Acquire Businesses Net Of Cash Acquired -1,783,250 -1,724,440 -3.4%
Payments To Acquire Investments -149,201 -72,609 -105.5%
Proceeds From Sale Maturity And Collections Of Investments 17,012 29,239 -41.8%
Other Investing Activities 5,874 30,525 -80.8%
Net Cash from Investing -2,285,686 -2,127,148 -7.5%
Financing Activities
Proceeds From Long Term Lines Of Credit 36,838,696 11,905,853 +209.4%
Repayments Of Long Term Lines Of Credit -36,889,918 -12,696,895 -190.5%
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 -97,610 -140,625 +30.6%
Payments Of Dividends Common Stock -45,387 -40,769 -11.3%
Share Repurchases -134,555
Show Share Repurchase Program breakouts
2023 Repurchase Program -134.6
Proceeds From Payments For Other Financing Activities -26,254 -38,878 +32.5%
Net Cash from Financing 1,031,409 227,427 +353.5%
Supplemental
Interest Paid -169,712 -118,955 -42.7%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 19,538 4,267 +357.9%
Net Change in Cash -132,334 -526,273 +74.9%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 613,676 768,768 -20.2%

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

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