Latest Ratios: P/E Ratio 17.3x · EV/EBITDA 10.8x · ROE 17.8%. (2007–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $6.8B | $4.2B | $1.8B | $1.2B | $1.3B | $1.3B | $1.1B | $988M | $1.4B | $1.2B |
| Enterprise Value | $5.5B | $7.5B | $4.9B | $2.9B | $2.3B | $1.9B | $1.5B | $1.6B | $1.2B | $1.5B | $1.3B |
| P/E Ratio → | 17.32 | 24.73 | 23.08 | 14.25 | 8.88 | 11.05 | 12.78 | 13.81 | 12.75 | 19.42 | 44.67 |
| P/S Ratio | 0.62 | 0.90 | 0.65 | 0.32 | 0.27 | 0.36 | 0.38 | 0.37 | 0.34 | 0.59 | 0.59 |
| P/B Ratio | 2.84 | 4.05 | 2.96 | 1.46 | 1.06 | 1.29 | 1.88 | 1.80 | 1.63 | 2.50 | 2.38 |
| P/FCF | 13.85 | 19.98 | 10.92 | 18.85 | — | — | 5.42 | 46.46 | 59.45 | 12.89 | 260.29 |
| P/OCF | 10.03 | 14.46 | 8.20 | 9.07 | 14.15 | 15.99 | 4.30 | 9.55 | 7.79 | 7.45 | 18.93 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.00 | 0.77 | 0.51 | 0.52 | 0.54 | 0.44 | 0.52 | 0.41 | 0.63 | 0.66 |
| EV / EBITDA | 10.78 | 14.90 | 11.87 | 8.06 | 7.73 | 6.87 | 6.26 | 7.13 | 5.75 | 8.67 | 10.42 |
| EV / EBIT | 13.17 | 18.27 | 15.31 | 11.34 | 11.47 | 11.13 | 9.32 | 11.76 | 9.13 | 13.19 | 22.67 |
| EV / FCF | — | 22.14 | 12.85 | 30.36 | — | — | 6.23 | 65.94 | 72.51 | 13.70 | 287.97 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.7% | 10.7% | 11.0% | 10.3% | 10.3% | 11.9% | 10.6% | 10.7% | 11.1% | 11.7% | 10.1% |
| Operating Margin | 5.5% | 5.5% | 5.0% | 4.4% | 4.4% | 4.9% | 4.7% | 4.5% | 4.4% | 4.5% | 2.9% |
| Net Profit Margin | 3.6% | 3.6% | 2.8% | 2.2% | 3.0% | 3.3% | 3.0% | 2.7% | 2.6% | 3.0% | 1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.8% | 17.8% | 13.7% | 10.8% | 12.7% | 13.6% | 15.6% | 13.3% | 13.3% | 13.6% | 5.4% |
| ROA | 6.4% | 6.4% | 4.5% | 3.4% | 4.4% | 5.1% | 5.5% | 4.8% | 5.4% | 6.0% | 2.3% |
| ROIC | 13.6% | 13.6% | 10.6% | 8.4% | 7.7% | 10.1% | 12.2% | 10.9% | 13.3% | 12.5% | 7.1% |
| ROCE | 16.3% | 16.3% | 12.7% | 10.3% | 9.3% | 11.4% | 13.9% | 13.2% | 14.9% | 14.2% | 8.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.76 | 0.84 | 1.07 | 1.21 | 0.83 | 0.74 | 0.95 | 0.61 | 0.46 | 0.53 |
| Debt / EBITDA | 2.52 | 2.52 | 2.88 | 3.66 | 4.57 | 2.98 | 2.14 | 2.64 | 1.76 | 1.50 | 2.08 |
| Net Debt / Equity | — | 0.44 | 0.52 | 0.89 | 0.99 | 0.63 | 0.28 | 0.76 | 0.36 | 0.16 | 0.25 |
| Net Debt / EBITDA | 1.45 | 1.45 | 1.78 | 3.06 | 3.73 | 2.25 | 0.81 | 2.10 | 1.04 | 0.51 | 1.00 |
| Debt / FCF | — | 2.16 | 1.92 | 11.52 | — | — | 0.81 | 19.48 | 13.06 | 0.81 | 27.68 |
| Interest Coverage | 14.38 | 14.38 | 4.90 | 3.27 | 5.06 | 9.21 | 11.75 | 7.16 | 7.05 | 13.92 | 6.48 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.29 | 1.41 | 1.50 | 1.56 | 1.46 | 1.36 | 1.49 | 1.55 | 1.63 |
| Quick Ratio | 1.23 | 1.23 | 1.26 | 1.41 | 1.48 | 1.54 | 1.46 | 1.36 | 1.49 | 1.46 | 1.52 |
| Cash Ratio | 0.29 | 0.29 | 0.27 | 0.16 | 0.22 | 0.26 | 0.43 | 0.18 | 0.24 | 0.35 | 0.30 |
| Asset Turnover | — | 1.72 | 1.52 | 1.49 | 1.25 | 1.38 | 1.77 | 1.70 | 1.84 | 1.90 | 1.71 |
| Inventory Turnover | 120.75 | 120.75 | 115.44 | — | 183.81 | 206.75 | — | — | — | 51.36 | 36.50 |
| Days Sales Outstanding | — | 77.30 | 92.19 | 97.81 | 54.75 | 91.88 | 79.27 | 88.09 | 88.31 | 79.48 | 96.25 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.3% | 0.3% | 0.7% | 1.1% | 1.0% | 0.9% | 1.1% | 1.2% | 0.8% | 1.0% |
| Payout Ratio | 6.3% | 6.3% | 7.1% | 10.1% | 9.6% | 10.9% | 11.0% | 14.8% | 15.9% | 15.7% | 42.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.8% | 4.0% | 4.3% | 7.0% | 11.3% | 9.0% | 7.8% | 7.2% | 7.8% | 5.1% | 2.2% |
| FCF Yield | 7.2% | 5.0% | 9.2% | 5.3% | — | — | 18.4% | 2.2% | 1.7% | 7.8% | 0.4% |
| Buyback Yield | 0.3% | 0.2% | 0.0% | 0.0% | 0.5% | 1.2% | 0.9% | 4.4% | 2.0% | 0.4% | 0.4% |
| Total Shareholder Yield | 0.6% | 0.4% | 0.3% | 0.7% | 1.6% | 2.1% | 1.7% | 5.5% | 3.3% | 1.2% | 1.4% |
| Shares Outstanding | — | $55M | $55M | $54M | $54M | $53M | $49M | $51M | $52M | $52M | $52M |
Fixed-price project margin volatility
Based on current market data, PRIM trades at a P/E of 18.55x, which appears to discount the company relative to broader E&C peers, likely due to lingering investor concerns regarding the cyclicality of its legacy pipeline services segment versus its newer renewable energy infrastructure projects.
The forward P/E of 19.25x suggests that the market is pricing in modest earnings growth, yet the PEG ratio of 1.01 indicates that the stock is fairly valued relative to its near-term growth prospects. Investors should monitor whether the valuation gap narrows as the company demonstrates sustained margin stability in its utility-scale solar EPC business.
As reported in the quarterly financial data, PRIM's ROIC has struggled to gain momentum, peaking at only 4.7% in 2025Q3 before declining to 0.9% in 2026Q1, which suggests that the company is currently failing to generate returns that exceed its likely cost of capital.
The persistent gap between ROIC and industry leaders indicates that the company's capital-intensive operations are not yet yielding the expected efficiency gains from its strategic pivot. This trend warrants further investigation into whether the recent decline in returns is a temporary byproduct of project ramp-up costs or a structural issue with project selection.
According to the latest financial statements, PRIM's DSO has fluctuated significantly, reaching 68 days in 2026Q1, which highlights the inherent difficulty in managing cash conversion cycles within a project-based business model that relies heavily on milestone-based billing and customer payment schedules.
The volatility in the cash conversion cycle suggests that the company's liquidity is highly sensitive to the timing of project completions and client collections. Investors should monitor the DSO trend closely, as any sustained increase could signal potential disputes or delays in project billing that would further strain operating cash flow.
Based on reported figures, PRIM has successfully improved its balance sheet health, reducing its debt-to-equity ratio from 1.07x in 2024Q1 to 0.22x in 2026Q1, which indicates a significant reduction in financial risk and a more conservative approach to capital structure management.
The substantial improvement in the debt-to-equity ratio provides the company with a stronger buffer to navigate potential project-related cash flow volatility. While the interest coverage ratio has fluctuated, the overall reduction in debt levels suggests that the company is better positioned to withstand a higher-for-longer interest rate environment than it was in previous periods.
The P/E ratio is frequently misapplied to PRIM, as it fails to account for the significant non-cash charges and the volatility inherent in percentage-of-completion accounting, which can artificially depress earnings during periods of project-related cost adjustments or integration expenses.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the company's underlying cash-generating capacity, as these metrics are less susceptible to the accounting distortions that plague net income in the E&C sector. Relying solely on P/E may lead to an inaccurate assessment of the company's true earnings power and valuation.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying PRIM stock.
Primoris Services Corporation's current P/E ratio is 17.3x. The historical average is 22.1x. This places it at the 58th percentile of its historical range.
Primoris Services Corporation's current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.0x.
Primoris Services Corporation's return on equity (ROE) is 17.8%. The historical average is 18.1%.
Based on historical data, Primoris Services Corporation is trading at a P/E of 17.3x. This is at the 58th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Primoris Services Corporation's current dividend yield is 0.36% with a payout ratio of 6.3%.
Primoris Services Corporation has 10.7% gross margin and 5.5% operating margin.
Primoris Services Corporation's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.