QUANTA SERVICES, INC.
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Income Statement
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Revenue | 7,631,408 | 6,493,167 | +17.5% |
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| Electric | 6,172,019 | 5,233,887 | +17.9% |
| Underground and Infrastructure | 1,459,389 | 1,259,280 | +15.9% |
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| 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 |
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| Integral Affiliates · Related Party | 36.9 | 58.5 | -36.9% |
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| 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% |
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| 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% |
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| Electric | 13,731 | 14,015 | -2.0% |
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| 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% |
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| 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
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 610,387 | 764,067 | -20.1% |
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| 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% |
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| 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 |
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| 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) | — | — | — |
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| 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 |
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| 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 |
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| 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) | — | — | — |
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| 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% |
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| 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% |
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| 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
| 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% |
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| Corporate Non Segment | 129.1 | 110.8 | +16.5% |
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| 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 | — | — |
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| 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.