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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. In the quarter to June 2026, revenue fell 10.7%, EPS fell 128.9%, free cash flow fell 149.1% and total debt rose 32.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten; insiders bought in the last twelve months.

73.21 0.54 −0.73%
Market cap
$4.0B
P/E
28.4×
Fwd P/E
30.5×
Dividend yield
0.44%
F-score
6/9
Altman Z
4.07
Beneish M
−2.71
Dividend safety
93/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.01
Total sells 9.67
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — 1 — — 1 1 — 1 — — —
Sell 2 2 — — — — 2 — — — — —
Insider Ownership 1.41%

Capital & Financial Ratios $m

Market Cap 3,970.00
Revenue 7,284.20
Net Income 139.60
Free Cash Flow 118.40
Net Debt 578.80
Current Ratio 1.18
Debt/Equity 0.50 (at or below 0.5: strong)
P/E ratio 28.38
Fwd P/E 30.50
P/S ratio 0.54
P/B ratio 2.46
Past 5Y EPS Growth 18.37% (at or above 15%: strong)
This Y EPS Growth (62.01%) (below 0%: weak)
Next Y EPS Growth 144.48% (at or above 15%: strong)
Next Y revenue growth (4.13%) (below 0%: weak)
Next 5Y EPS Growth 3.50%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, 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 83.86%
10-year low 10-year high
P/S against its own 10 years 62.81%
10-year low 10-year high
P/B against its own 10 years 73.35%
10-year low 10-year high
EV/Sales against its own 10 years 67.75%
10-year low 10-year high
EV/FCF against its own 10 years 77.53%
10-year low 10-year high

Dividends

Payout Ratio 0.13
Annual Dividend Rate 0.32
Annual Dividend Yield 0.44%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.32
0.08
0.08
0.08
2025 0.32
0.08
0.08
0.08
0.08
2024 0.26
0.06
0.06
0.06
0.08
2023 0.24
0.06
0.06
0.06
0.06
2022 0.24
0.06
0.06
0.06
0.06
2021 0.24
0.06
0.06
0.06
0.06
2020 0.24
0.06
0.06
0.06
0.06
2019 0.24
0.06
0.06
0.06
0.06
2018 0.24
0.06
0.06
0.06
0.06
2017 0.28
0.06
0.06
0.06
0.06
0.06
2016 0.22
0.06
0.06
0.06
0.06
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 218 456 536 218
Receivables 685 834 723 839
Inventory — — — —
Other 846 774 937 938
1,885 2,160 2,334 2,163
2023 2024 2025 Q'26
Payables 629 624 744 692
ST’ Debt 73 75 61 45
Other 366 617 634 683
1,335 1,671 1,849 1,831

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%

Revenue $m

Mar Jun Sep Dec Year
’26 1,560 1,688 — — —
’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) — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.32 (0.45) — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.13 21.83 17.99 17.80 9.42 21.47 15.90 21.88 30.95 49.10

Analyst estimates 2026–2028

Powerpack
High 25.25 30.00 28.90 23.98 29.02 41.76 27.94 36.19 84.97 146.16
People
People Employees 7,926 7,102 10,600 9,700 10,414 10,810 12,802 14,058 15,716 18,526
Revenue/emp, $m 0.25 0.34 0.28 0.32 0.34 0.32 0.35 0.41 0.41 0.41
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
Gross margin, % 10.08 11.70 11.08 10.65 10.60 11.91 10.34 10.28 11.04 10.73
EBT 49 105 113 118 146 152 159 178 255 384
EBT margin, % 2.45 4.42 3.86 3.80 4.17 4.34 3.60 3.11 4.00 5.07
Net income 28 77 88 84 105 116 133 126 181 275
Depreciation 71 67 79 85 82 106 99 107 96 92
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
Earnings 0.52 1.41 1.51 1.62 2.17 2.19 2.50 2.37 3.37 5.09
Cash flow 1.21 3.67 2.47 2.34 6.48 1.51 1.57 3.72 9.48 8.71
Capex (0.94) (1.38) (1.92) (1.30) (0.88) (1.60) (1.00) (0.74) (0.51) (1.80)
Free cash flow 0.27 2.29 0.55 1.05 5.60 (0.09) 0.56 2.99 8.98 6.91
Book value 9.63 10.92 11.82 12.40 14.80 18.80 20.84 23.19 26.30 31.13
Shares, m 52 51 51 51 48 53 53 53 54 54
Valuation, ×
Valuation, × P/E 44.56 19.49 12.67 13.73 12.72 11.05 8.84 13.91 22.74 24.39
P/S 0.60 0.59 0.33 0.36 0.38 0.36 0.27 0.31 0.64 0.89
P/B 2.41 2.52 1.62 1.79 1.87 1.28 1.06 1.42 2.91 3.99
EV/Sales 0.66 0.63 0.41 0.44 0.38 0.49 0.47 0.44 0.69 0.88
EV/FCF 93.61 12.75 42.41 25.63 4.89 (379.17) 69.11 15.64 9.09 17.80
Cash, $m
Cash, $m Operating cash flow 63 189 127 119 313 80 83 199 508 470
Capex (48) (71) (99) (66) (43) (84) (53) (39) (27) (97)
Free cash flow 14 118 28 53 270 (5) 30 159 481 373
Balance, $m
Balance, $m Working capital 281 288 303 242 351 423 566 550 489 485
Total debt 261 259 368 351 317 661 1,143 958 735 470
Net debt 126 88 217 231 (10) 461 895 740 279 (66)
Shareholders’ equity 499 562 607 630 715 990 1,109 1,236 1,410 1,681
Returns, %
Returns, % ROA 2.32 5.96 5.44 4.81 5.53 5.13 4.37 3.42 4.51 6.39
ROIC 5.78 10.21 9.90 10.23 14.54 7.33 6.09 8.00 11.75 15.92
ROE 5.44 13.64 13.25 13.32 15.62 13.58 12.68 10.76 13.68 17.79
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
AGX Argan, Inc. $5.2B 26.9× 58.0× +61.51% (above 0%: growing) +47.86% (above 0%: growing) +178.70% (above 0%: growing) 19.33% 14.79% Compare
LGN Legence Corp. $4.9B — (loss-making) 13.0× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
GVA Granite Construction Incorporated $4.8B — (loss-making) 26.2× +29.30% (above 0%: growing) n/m +755.66% (above 0%: growing) 16.40% 8.71% Compare
ROAD Construction Partners, Inc. $4.7B 32.2× 38.5× +28.25% (above 0%: growing) +33.75% (above 0%: growing) −19.66% (below 0%: shrinking) 16.85% 10.94% Compare
KBR KBR, Inc. $4.6B 11.0× 9.6× +1.64% (above 0%: growing) +33.93% (above 0%: growing) −83.25% (below 0%: shrinking) 14.77% 8.67% Compare
MYRG MYR Group, Inc. $4.5B 26.4× 39.8× +20.15% (above 0%: growing) +88.24% (above 0%: growing) −283.31% (below 0%: shrinking) 13.19% 6.28% Compare
TPC Tutor Perini Corporation $4.1B 32.9× 19.8× +19.17% (above 0%: growing) +228.95% (above 0%: growing) −35.14% (below 0%: shrinking) 12.91% 7.19% Compare
PRIM Primoris Services Corporation $4.0B 28.4× 30.5× −10.71% (below 0%: shrinking) n/m −149.14% (below 0%: shrinking) 4.88% (1.59%)
EXPO Exponent, Inc. $3.4B 32.2× 26.3× +20.89% (above 0%: growing) +15.38% (above 0%: growing) −14.24% (below 0%: shrinking) 86.74% 16.33% Compare
Median of peers $4.7B 29.5× 26.3× +24.57% +40.90% −16.95% 16.63% 8.69%

All 51 Engineering & Construction stocks →

Primoris Services Corporation (PRIM) key facts

  • Strength: Primoris Services Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.6 billion, up 19.0% from fiscal 2024.
  • Strength: Net income was $274.9 million, or $5.09 per share (basic), a net margin of 3.63%.
  • Primoris Services Corporation (PRIM) is an Engineering & Construction company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, PRIM traded at $73.21, a market capitalization of $4.0 billion.
  • At that price the stock trades at 28.4× trailing-twelve-month earnings and 0.5× sales; its P/E is higher than 84% of its own readings over the past ten years.
  • Primoris Services Corporation pays an annual dividend of $0.32 per share, a yield of 0.44%, with a payout ratio of 12.6%.
  • Return on equity was 17.8% and debt-to-equity 0.50.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.07 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Primoris Services Corporation (PRIM) Latest News

4 May

Impact 5 ·
stockrow.com/PRIM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com