Latest Ratios: P/E Ratio 96.6x · EV/EBITDA 40.0x · ROE 12.6%. (1997–2025 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 | $98.6B | $64.0B | $47.4B | $32.1B | $21.1B | $16.7B | $10.5B | $6.0B | $4.6B | $6.1B | $5.5B |
| Enterprise Value | $99.3B | $64.8B | $51.2B | $35.3B | $24.6B | $20.4B | $11.7B | $7.5B | $5.7B | $6.7B | $5.7B |
| P/E Ratio → | 96.59 | 62.07 | 52.41 | 43.16 | 42.92 | 34.33 | 23.46 | 14.91 | 15.84 | 19.55 | 27.66 |
| P/S Ratio | 3.48 | 2.26 | 2.00 | 1.54 | 1.24 | 1.28 | 0.93 | 0.50 | 0.42 | 0.65 | 0.72 |
| P/B Ratio | 11.04 | 7.09 | 6.47 | 5.11 | 3.91 | 3.26 | 2.41 | 1.48 | 1.29 | 1.62 | 1.64 |
| P/FCF | 60.81 | 39.50 | 32.11 | 28.14 | 30.06 | 85.19 | 12.23 | 22.73 | 91.48 | 48.08 | 32.71 |
| P/OCF | 44.20 | 28.71 | 22.79 | 20.38 | 18.66 | 28.62 | 9.37 | 11.41 | 12.94 | 16.50 | 14.42 |
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 | — | 2.28 | 2.16 | 1.69 | 1.44 | 1.57 | 1.05 | 0.62 | 0.51 | 0.71 | 0.75 |
| EV / EBITDA | 40.00 | 26.09 | 24.60 | 20.19 | 15.40 | 18.58 | 12.51 | 8.69 | 6.81 | 10.31 | 10.67 |
| EV / EBIT | 60.66 | 38.75 | 36.16 | 30.50 | 29.74 | 29.55 | 19.03 | 11.73 | 11.46 | 17.83 | 17.76 |
| EV / FCF | — | 39.96 | 34.64 | 30.92 | 35.12 | 104.47 | 13.71 | 28.37 | 111.73 | 52.26 | 34.19 |
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 | 13.0% | 13.0% | 13.2% | 12.7% | 12.7% | 13.8% | 14.1% | 12.7% | 12.9% | 12.8% | 12.8% |
| Operating Margin | 5.8% | 5.8% | 5.6% | 5.4% | 5.6% | 5.2% | 5.7% | 4.8% | 5.2% | 4.6% | 4.4% |
| Net Profit Margin | 3.6% | 3.6% | 3.8% | 3.6% | 2.9% | 3.7% | 4.0% | 3.3% | 2.6% | 3.3% | 2.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.6% | 12.6% | 13.3% | 12.7% | 9.3% | 10.3% | 10.6% | 10.5% | 7.9% | 8.8% | 6.2% |
| ROA | 4.7% | 4.7% | 5.2% | 5.0% | 3.7% | 4.6% | 5.3% | 5.2% | 4.3% | 5.3% | 3.8% |
| ROIC | 11.8% | 11.8% | 9.8% | 9.2% | 8.0% | 7.0% | 8.5% | 8.6% | 9.8% | 8.2% | 7.1% |
| ROCE | 11.3% | 11.3% | 11.3% | 10.8% | 9.7% | 8.5% | 10.3% | 10.3% | 11.4% | 9.5% | 8.2% |
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 | 0.13 | 0.13 | 0.61 | 0.71 | 0.74 | 0.78 | 0.33 | 0.41 | 0.31 | 0.18 | 0.11 |
| Debt / EBITDA | 0.48 | 0.48 | 2.15 | 2.55 | 2.48 | 3.64 | 1.55 | 1.92 | 1.33 | 1.04 | 0.67 |
| Net Debt / Equity | — | 0.08 | 0.51 | 0.51 | 0.66 | 0.74 | 0.29 | 0.37 | 0.28 | 0.14 | 0.07 |
| Net Debt / EBITDA | 0.30 | 0.30 | 1.80 | 1.82 | 2.22 | 3.43 | 1.35 | 1.73 | 1.23 | 0.82 | 0.46 |
| Debt / FCF | — | 0.46 | 2.53 | 2.78 | 5.06 | 19.28 | 1.48 | 5.64 | 20.25 | 4.17 | 1.49 |
| Interest Coverage | 6.39 | 6.39 | 6.98 | 6.19 | 6.66 | 10.04 | 13.69 | 9.56 | 13.39 | 17.89 | 21.67 |
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 | 1.14 | 1.14 | 1.30 | 1.47 | 1.63 | 1.50 | 1.68 | 1.69 | 1.84 | 1.92 | 1.90 |
| Quick Ratio | 1.09 | 1.09 | 1.26 | 1.44 | 1.59 | 1.47 | 1.65 | 1.67 | 1.78 | 1.87 | 1.83 |
| Cash Ratio | 0.05 | 0.05 | 0.12 | 0.25 | 0.13 | 0.07 | 0.09 | 0.07 | 0.04 | 0.09 | 0.09 |
| Asset Turnover | — | 1.14 | 1.27 | 1.29 | 1.27 | 1.01 | 1.33 | 1.45 | 1.58 | 1.46 | 1.43 |
| Inventory Turnover | 66.57 | 66.57 | 78.96 | 103.80 | 144.28 | 132.20 | 190.57 | 189.77 | 90.37 | 102.07 | 75.32 |
| Days Sales Outstanding | — | 88.15 | 98.36 | 101.80 | 101.64 | 118.21 | 103.28 | 100.93 | 95.78 | 95.71 | 94.14 |
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 | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.3% | 0.4% | — | — | — |
| Payout Ratio | 5.9% | 5.9% | 6.0% | 6.4% | 8.4% | 7.0% | 6.5% | 5.8% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.6% | 1.9% | 2.3% | 2.3% | 2.9% | 4.3% | 6.7% | 6.3% | 5.1% | 3.6% |
| FCF Yield | 1.6% | 2.5% | 3.1% | 3.6% | 3.3% | 1.2% | 8.2% | 4.4% | 1.1% | 2.1% | 3.1% |
| Buyback Yield | 0.1% | 0.2% | 0.3% | 0.0% | 0.6% | 0.4% | 2.4% | 0.3% | 9.5% | 0.8% | 0.2% |
| Total Shareholder Yield | 0.2% | 0.3% | 0.4% | 0.1% | 0.8% | 0.6% | 2.6% | 0.7% | 9.5% | 0.8% | 0.2% |
| Shares Outstanding | — | $152M | $150M | $149M | $148M | $145M | $145M | $148M | $154M | $157M | $157M |
Project execution and integration
Based on current market data, Quanta trades at a forward P/E of 49.13, which significantly exceeds the broader industrial sector and suggests that investors are pricing in aggressive long-term earnings growth tied to the North American energy transition rather than traditional engineering and construction project margins.
The elevated P/E and EV/EBITDA multiples indicate that the market views Quanta as a strategic infrastructure play rather than a cyclical contractor. This valuation premium warrants caution, as it implies little margin for error regarding the company's ability to maintain its backlog conversion rates and successfully integrate recent acquisitions.
According to reported financial figures, Quanta's ROIC has remained in a narrow range between 1.2% and 3.1% over the last ten quarters, suggesting that the company's aggressive acquisition strategy has yet to yield the expected compounding returns on its expanding invested capital base.
The persistent gap between invested capital growth and return generation implies that the integration of acquired firms is creating significant friction. Investors should monitor whether management can improve asset utilization and operational efficiency to drive ROIC higher as the scale of the business continues to increase.
As reported in quarterly filings, Quanta's cash conversion cycle has fluctuated significantly, reaching as high as 66 days in 2024Q1, which highlights the inherent difficulty in managing working capital across diverse, large-scale infrastructure projects with varying payment terms and milestone-based billing structures.
The variability in DSO and the reliance on percentage-of-completion accounting suggest that operational efficiency is highly sensitive to project timing and client payment cycles. This volatility complicates cash flow forecasting and may indicate that the company is absorbing more working capital risk than its peers in the sector.
Based on the provided financial statements, Quanta's debt-to-equity ratio dropped sharply to 0.12 in 2026Q1 from 0.71 in 2025Q3, a rapid shift that warrants further investigation to determine if this reflects genuine debt repayment or a temporary accounting distortion related to capital structure management.
While the current leverage profile appears healthy, the inconsistency in these figures suggests that the company's debt service capacity may be less stable than the headline numbers imply. Analysts should verify these figures against the most recent 10-K to ensure that the reported deleveraging is sustainable and not a result of non-recurring balance sheet adjustments.
The most commonly misapplied metric for Quanta is the standard P/E ratio, which obscures the company's true earning power by failing to account for the significant non-cash amortization of intangible assets resulting from its aggressive, acquisition-led growth strategy in the renewable energy sector.
Investors should instead focus on cash-based metrics like EV/EBITDA or P/FCF to better understand the company's ability to generate actual liquidity from its operations. Relying on P/E ignores the 'lumpy' nature of project-based revenue and the potential for earnings volatility inherent in the percentage-of-completion accounting model.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying PWR stock.
Quanta Services, Inc.'s current P/E ratio is 96.6x. The historical average is 33.3x. This places it at the 96th percentile of its historical range.
Quanta Services, Inc.'s current EV/EBITDA is 40.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
Quanta Services, Inc.'s return on equity (ROE) is 12.6%. The historical average is 5.8%.
Based on historical data, Quanta Services, Inc. is trading at a P/E of 96.6x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Quanta Services, Inc.'s current dividend yield is 0.06% with a payout ratio of 5.9%.
Quanta Services, Inc. has 13.0% gross margin and 5.8% operating margin.
Quanta Services, Inc.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.