Friday 6 November 2026 Export PWR’s income statement to Excel — free account

Quanta Services, Inc.

PWR Industrials Engineering & Construction

Quanta Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $28.5 billion, up 20.3% from fiscal 2024.

Revenue: +57.4%
EPS: +106.0%
Free cash flow: +188.9%
Total debt: +24.2%

Quarter to September 2026, against a year earlier

511.41 69.03 −11.89%

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Market cap: $76.7B
P/E: 45.3×
Fwd P/E: 48.3×
Dividend yield: 0.09%
F-score: 4/9
Altman Z: 4.16
Beneish M: −2.42
Dividend safety: 84/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Quanta Services, Inc. (PWR) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Electric	23,001	80.76%
Underground and Infrastructure	5,478	19.24%
Gross margin		15.01%
Operating margin		5.66%
Pre-tax margin		4.88%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Electric	23,001 80.76%	19,012 80.31%	15,867 75.98%	8,940 52.36%	7,624 58.74%	6,468 57.74%	6,347 52.40%	6,416 57.43%	5,600 59.15%	4,850 63.39%
Underground and Infrastructure	5,478 19.24%	4,660 19.69%	5,015 24.02%	4,355 25.51%	3,531 27.20%	3,429 30.61%	4,990 41.20%	4,756 42.57%	3,867 40.85%	2,801 36.61%
Renewable Energy	—	—	—	3,779 22.13%	1,825 14.06%	1,305 11.65%	775 6.40%	—	—	—
Revenue	28,480	23,673	20,882	17,074	12,980	11,203	12,112	11,171	9,466	7,651

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Electric	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Renewable Energy	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Underground and Infrastructure	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2019
United States	26,483 92.99%	21,607 91.27%	17,911 85.77%	14,390 84.28%	11,068 85.27%	10,191 84.14%
Canada	1,019 3.58%	1,025 4.33%	2,046 9.80%	2,021 11.84%	1,557 12.00%	1,437 11.86%
Australia	780 2.74%	667 2.82%	612 2.93%	428 2.51%	221 1.70%	188 1.55%
Others	198 0.70%	374 1.58%	313 1.50%	234 1.37%	134 1.03%	297 2.45%
Non-US	—	—	—	—	—	1,920
Revenue	28,480	23,673	20,882	17,074	12,980	12,112

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
12 Month backlog	Q3 FY2026	$38.4B	$22.3B	+72.34%
12 Month remaining performance obligations	Q3 FY2026	$28.0B	$13.4B	+107.91%
Backlog	Q3 FY2026	$63.7B	$39.2B	+62.69%
Remaining performance obligations	Q3 FY2026	$41.8B	$21.0B	+99.09%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
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12 Month remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.