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Primoris Services Corporation

PRIM Industrials Engineering & Construction

Primoris Services Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.6 billion, up 19.0% from fiscal 2024.

Revenue
−10.4%
EPS
−45.2%
Free cash flow
−33.7%
Total debt
+61.4%

Quarter to September 2026, against a year earlier

59.96 8.49 −12.40%
Market cap
$3.2B
P/E
33.5×
Fwd P/E
57.6×
Dividend yield
0.53%
F-score
6/9
Altman Z
4.07
Beneish M
−2.71
Dividend safety
93/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.01
Sold, $m 7.52
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 — — 1 1 — 1 — — 1 —
Sell 2 — — — — 2 — — — — — —
Insider Ownership 0.49%

Capital & Financial Ratios $m

Size
Market Cap 3,210.00
Revenue ttm 7,058.18
Net income ttm 96.32
Free cash flow ttm 64.13
Net debt Q 580.80
Valuation
P/E 33.52
Forward P/E 57.60 (above 35: high)
Price / sales 0.45
Forward P/S Powerpack
Price / FCF 50.03
Price / book 2.06
Financial health
Current ratio Q 1.14
Debt / equity Q 0.50
Interest coverage Q 6.64
Growth
Revenue growth Q −10.38% (below 0%: shrinking)
Operating income growth Q −30.73% (below 0%: shrinking)
EPS, this year −60.65% (below 0%: weak)
EPS, next year A +138.91% (at or above 15%: strong)
Revenue, next year A −4.22% (below 0%: weak)
EPS, past 5 yrs +18.37% (at or above 15%: strong)
EPS, next 5 yrs A +4.11%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.6×; over the ten years it ranged from 0.3× in 2020 to 1.3× in 2026.
P/E against its own 10 years 90.39%
10-year low 10-year high
P/S against its own 10 years 50.09%
10-year low 10-year high
P/B against its own 10 years 52.48%
10-year low 10-year high
EV/Sales against its own 10 years 43.16%
10-year low 10-year high
EV/FCF against its own 10 years 83.86%
10-year low 10-year high

Dividends raised 2 years running

Yield
0.53%
Annual rate
0.32
Payout ratio
18.1%
Growth, 2017–25
+1.68%/yr
  1. 0.28 ’17
  2. 0.24 ’18 −14
  3. 0.24 ’19 +0
  4. 0.24 ’20 +0
  5. 0.24 ’21 +0
  6. 0.24 ’22 +0
  7. 0.24 ’23 +0
  8. 0.26 ’24 +8
  9. 0.32 ’25 +23
  10. 0.32 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 218 456 536 204
Receivables 685 834 723 935
Inventory — — — —
Other 846 774 937 881
1,885 2,160 2,334 2,157
2023 2024 2025 Q'26
Payables 629 624 744 721
ST’ Debt 73 75 61 43
Other 366 617 634 680
1,335 1,671 1,849 1,887

Compound Annual Growth %

10y 5y 3y
Sales 14.66% 16.75% 19.66%
Cash Flow 25.54% 8.49% 78.04%
Earnings 22.25% 21.23% 27.38%
Book Value 13.27% 18.65% 14.88%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.75 Actual 1.20

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.95 1.08 Beat by 0.13
Q1 FY26 0.87 0.59 Miss by 0.28
Q2 FY26 −0.35 −0.27 Beat by 0.08
Q3 FY26 0.75 1.20 Beat by 0.45
Q4 FY26 0.95 — Reports 22 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.32 (0.45) 0.95 — —
’25 0.81 1.54 1.73 0.95 5.02
’24 0.35 0.91 1.07 0.99 3.31
’23 0.02 0.72 0.89 0.69 2.33
’22 (0.03) 0.93 0.80 0.77 2.47
’21 0.12 0.67 0.81 0.54 2.17
’20 (0.08) 0.68 0.90 0.66 2.16
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,560 1,688 1,952 — —
’25 1,648 1,891 2,178 1,858 7,575
’24 1,413 1,564 1,649 1,741 6,367
’23 1,257 1,413 1,529 1,516 5,715
’22 784 1,023 1,284 1,329 4,421
’21 818 882 913 884 3,498
’20 743 908 943 897 3,491
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (123) (9) 140 — —
’25 66 78 183 143 470
’24 (28) 16 222 298 508
’23 (115) 35 74 206 199
’22 7 (98) (11) 185 83
’21 8 (2) 9 64 80
’20 (5) 66 131 122 313
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (143) (26) 107 — —
’25 33 53 161 127 373
’24 (24) 51 182 272 481
’23 (122) 22 58 201 159
’22 (22) (124) (13) 188 30
’21 (9) (37) 3 38 (5)
’20 (8) 59 104 116 270
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,997 2,380 2,939 3,106 3,491 3,498 4,421 5,715 6,367 7,575 7,058 +16.0% 7,255 8,082 8,946 +5.7%
Gross margin, % 10.08 11.70 11.08 10.65 10.60 11.91 10.34 10.28 11.04 10.73 8.46 +0.7 pt
EBT 49 105 113 118 146 152 159 178 255 384 136 +25.7%
EBT margin, % 2.45 4.42 3.86 3.80 4.17 4.34 3.60 3.11 4.00 5.07 1.92 +2.6 pt
Net income 28 77 88 84 105 116 133 126 181 275 96 +29.0%
Per share, $
Per share, $ Revenue 38.58 46.23 57.24 61.17 72.28 66.40 83.09 107.23 118.78 140.28 131.93 +15.4%
Earnings 0.52 1.41 1.51 1.62 2.17 2.19 2.50 2.37 3.37 5.09 1.79 +28.8%
Cash flow 1.21 3.67 2.47 2.34 6.48 1.51 1.57 3.72 9.48 8.71 2.84 +24.5%
Capex (0.94) (1.38) (1.92) (1.30) (0.88) (1.60) (1.00) (0.74) (0.51) (1.80) (1.64) +7.6%
Free cash flow 0.27 2.29 0.55 1.05 5.60 (0.09) 0.56 2.99 8.98 6.91 1.20 +43.2%
Book value 9.63 10.92 11.82 12.40 14.80 18.80 20.84 23.19 26.30 31.13 29.08 +13.9%
Shares, m 52 51 51 51 48 53 53 53 54 54 54 +0.5%
Valuation, ×
Valuation, × P/E 44.56 19.49 12.67 13.73 12.72 11.05 8.84 13.91 22.74 24.39 33.52 18.4
P/S 0.60 0.59 0.33 0.36 0.38 0.36 0.27 0.31 0.64 0.89 0.45 0.5
P/B 2.41 2.52 1.62 1.79 1.87 1.28 1.06 1.42 2.91 3.99 2.06 2.1
EV/Sales 0.66 0.63 0.41 0.44 0.38 0.49 0.47 0.44 0.69 0.88 0.54 0.5
EV/FCF 93.61 12.75 42.41 25.63 4.89 (379.17) 69.11 15.64 9.09 17.80 59.08 (8.8)
Cash, $m
Cash, $m Operating cash flow 63 189 127 119 313 80 83 199 508 470 152 +25.1%
Capex (48) (71) (99) (66) (43) (84) (53) (39) (27) (97) (88) +8.1%
Free cash flow 14 118 28 53 270 (5) 30 159 481 373 64 +43.8%
Balance, $m
Balance, $m Working capital 281 288 303 242 351 423 566 550 489 485 269 +6.2%
Net debt 126 88 217 231 (10) 461 895 740 279 (66) 581 n/m
Shareholders’ equity 499 562 607 630 715 990 1,109 1,236 1,410 1,681 1,556 +14.5%
Returns, %
Returns, % ROA 2.32 5.96 5.44 4.81 5.53 5.13 4.37 3.42 4.51 6.39 2.08 +4.1 pt
ROIC 5.78 10.21 9.90 10.23 14.54 7.33 6.09 8.00 11.75 15.92 4.97 +10.1 pt
ROE 5.44 13.64 13.25 13.32 15.62 13.58 12.68 10.76 13.68 17.79 6.05 +12.4 pt
People
People Employees 7,926 7,102 10,600 9,700 10,414 10,810 12,802 14,058 15,716 18,526 — +9.9%
Revenue/emp, $m 0.25 0.34 0.28 0.32 0.34 0.32 0.35 0.41 0.41 0.41 — +5.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Primoris Services Corporation vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KBR KBR, Inc. $4.8B 10.8× 11.0× +5.02% (above 0%: growing) +19.93% (above 0%: growing) −14.21% (below 0%: shrinking) 14.84% 9.17% Compare
TPC Tutor Perini Corporation $4.3B 30.5× 20.2× +21.54% (above 0%: growing) +457.14% (above 0%: growing) +21.22% (above 0%: growing) 12.87% 7.29% Compare
EXPO Exponent, Inc. $4.1B 36.8× 34.0× +18.09% (above 0%: growing) +16.89% (above 0%: growing) −14.24% (below 0%: shrinking) 88.10% 24.10% Compare
MYRG MYR Group, Inc. $3.8B 19.9× 21.2× +32.47% (above 0%: growing) +86.07% (above 0%: growing) −84.04% (below 0%: shrinking) 13.60% 6.76% Compare
ECG Everus Construction Group, Inc. $3.7B 12.8× — +40.27% (above 0%: growing) +60.60% (above 0%: growing) −20.67% (below 0%: shrinking) 14.81% 8.84% Compare
AGX Argan, Inc. $3.7B 20.3× 25.8× +61.51% (above 0%: growing) +47.86% (above 0%: growing) +178.70% (above 0%: growing) 19.33% 14.79% Compare
PRIM Primoris Services Corporation $3.2B 33.5× 57.6× −10.38% (below 0%: shrinking) −45.21% (below 0%: shrinking) −33.74% (below 0%: shrinking) 10.48% 4.86%
CDLR Cadeler A/S Sponsored ADR $2.9B — (loss-making) — +122.12% (above 0%: growing) n/m +99.04% (above 0%: growing) 21.46% 6.24% Compare
LGN Legence Corp. $2.8B — (loss-making) 15.4× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
Median of peers $3.8B 20.1× 20.7× +36.37% +54.23% +3.51% 16.14% 8.07%

All 51 Engineering & Construction stocks →

Pay and ownership Proxy statement filed 20 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 17.49m 23.16m 466.50
2024 5.71m 14.93m 359.64
2023 7.00m 8.47m 155.60
2022 2.59m 2.41m 101.97
2021 3.45m 3.07m 110.16

Ownership

Directors and executive officers, together 1.10%
Blackrock, Inc. 14.70%
The Vanguard Group 11.40%
Fuller & Thaler Asset Management, Inc. 5.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Primoris Services Corporation (PRIM) Latest News

5 Nov

Impact 3 · · GuruFocus.com

4 Nov

Impact 4 · · Moby
Impact 3 · · The Motley Fool transcript

3 Nov

Impact 3 · · Investing.com
Impact 3 · · Associated Press
Impact 3 · · StockStory
Impact 3 · · Business Wire

27 Oct

Impact 4 · · Zacks

26 Oct

Impact 3 · · Trefis

23 Oct

Impact 4 · · Simply Wall St.

20 Oct

Impact 3 · · Business Wire
Impact 3 · · StockStory

1 Oct

Impact 4 · · Insider Monkey

28 Sep

Impact 4 · · Business Wire

25 Sep

Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

16 Sep

Impact 3 ·

15 Sep

Impact 3 ·

31 Aug

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat transcript

5 Aug

Impact 4 · transcript
Impact 3 ·

4 Aug

Impact 3 ·
Impact 3 ·
Impact 3 ·

3 Aug

Impact 3 ·

28 Jul

Impact 3 ·

23 Jul

Impact 3 ·

6 Jul

Impact 3 ·

2 Jul

Impact 4 ·

PRIM metrics, ten years each

stockrow.com/PRIM · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com