financial statements

The full income statement, balance sheet, and cash-flow statement for Quanta Services Inc. (PWR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	28.5B YoY+20.3%	23.7B YoY+13.4%	20.9B YoY+22.3%	17.1B YoY+31.5%	13.0B YoY+15.9%
	4.28B YoY+21.8%	3.51B YoY+19.5%	2.94B YoY+16.1%	2.53B YoY+29.5%	1.95B YoY+17.6%
Cost of revenue	24.2B YoY+20.1%	20.2B YoY+12.4%	17.9B YoY+23.4%	14.5B YoY+31.9%	11.0B YoY+15.6%
Selling, general & administrative	2.19B YoY+20.0%	1.82B YoY+17.3%	1.56B YoY+16.3%	1.34B YoY+15.6%	1.16B YoY+18.6%
Amortization of intangibles	499M YoY+30.2%	383M YoY+32.5%	289M YoY-18.4%	354M YoY+114.1%	165M YoY+115.6%
Provision for credit losses	3.72M YoY-13.1%	4.28M YoY-27.8%	5.93M YoY+1593.4%	350K YoY-99.0%	34.9M YoY+854.3%
Operating income	1.61B YoY+19.7%	1.35B YoY+19.4%	1.13B YoY+29.3%	872M YoY+31.4%	664M YoY+8.5%
Interest expense	261M YoY+29.0%	203M YoY+8.4%	187M YoY+50.3%	124M YoY+80.5%	68.9M YoY+53.1%
Interest & investment income	15.7M YoY-51.5%	32.4M YoY+199.2%	10.8M YoY+315.6%	2.61M YoY-18.4%	3.19M YoY+30.4%
Other non-operating income	23.7M YoY-33.8%	35.8M YoY+98.4%	18.1M YoY+138.9%	-46.4M YoY-285.0%	25.1M YoY+888.0%
Pre-tax income	1.39B YoY+14.6%	1.21B YoY+25.0%	970M YoY+37.8%	704M YoY+13.0%	623M YoY+9.0%
Income tax	348M YoY+22.1%	285M YoY+29.9%	219M YoY+14.1%	192M YoY+46.8%	131M YoY+9.7%
	1.04B YoY+12.4%	927M YoY+23.5%	751M YoY+46.7%	512M YoY+4.0%	492M YoY+10.4%
Net income to non-controlling interest	13.5M YoY-39.7%	22.5M YoY+274.3%	6.00M YoY-70.7%	20.5M YoY+239.4%	6.03M YoY-5.3%
Net income to common	1.03B YoY+13.7%	905M YoY+21.5%	745M YoY+51.6%	491M YoY+1.1%	486M YoY+9.1%
	$6.80 YoY+12.8%	$6.03 YoY+20.6%	$5.00 YoY+50.6%	$3.32 YoY-0.6%	$3.34 YoY+8.8%
EPS (basic)	$6.91 YoY+12.2%	$6.16 YoY+20.1%	$5.13 YoY+50.0%	$3.42 YoY-0.9%	$3.45 YoY+9.5%
Weighted-avg shares (basic)	149M YoY+1.3%	147M YoY+1.2%	145M YoY+1.2%	143M YoY+1.9%	141M YoY-0.4%
Weighted-avg shares (diluted)	151M YoY+0.8%	150M YoY+0.8%	149M YoY+0.6%	148M YoY+1.8%	145M YoY+0.1%
Dividends per share	$0.41 YoY+10.8%	$0.37 YoY+12.1%	$0.33 YoY+13.8%	$0.29 YoY+16.0%	$0.25 YoY+19.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.90B YoY+26.1%	7.85B YoY+2.3%	7.68B YoY+38.7%	5.54B YoY+17.0%	4.73B YoY+31.9%
Cash & equivalents	440M YoY-40.8%	742M YoY-42.5%	1.29B YoY+201.1%	429M YoY+87.0%	229M YoY+24.1%
Accounts receivable	6.85B YoY+32.4%	5.17B YoY+17.2%	4.41B YoY+20.0%	3.67B YoY+8.1%	3.40B YoY+25.2%
Inventory	370M YoY+42.4%	260M YoY+48.1%	176M YoY+70.1%	103M YoY+22.0%	84.7M YoY+67.7%
Prepaid expenses	724M YoY+54.3%	469M YoY+21.2%	387M YoY+55.1%	250M YoY+16.1%	215M YoY+17.3%
Other current assets	236M YoY+17.2%	201M YoY+2.4%	196M YoY+0.0%	196M YoY+0.0%	196M YoY+0.0%
	24.9B YoY+33.4%	18.7B YoY+15.1%	16.2B YoY+20.6%	13.5B YoY+4.7%	12.9B YoY+53.1%
Property, plant & equipment	1.39B YoY+0.0%	1.39B YoY+0.0%	1.39B YoY+0.0%	1.39B YoY+0.0%	1.39B YoY+0.0%
Operating lease right-of-use	401M YoY+33.7%	300M YoY+20.2%	249M YoY+8.6%	230M YoY-4.5%	241M YoY-6.3%
Goodwill	7.32B YoY+37.6%	5.32B YoY+31.4%	4.05B YoY+12.8%	3.59B YoY+1.6%	3.53B YoY+66.4%
Intangible assets	2.91B YoY+56.2%	1.86B YoY+36.6%	1.36B YoY-6.6%	1.46B YoY-19.0%	1.80B YoY+313.4%
Long-term investments	412M YoY+70.4%	242M	—	—	—
Deferred tax assets	92.4M YoY+46.5%	63.1M YoY+395.1%	12.7M YoY+3.3%	12.3M YoY-28.3%	17.2M YoY-2.7%
Other non-current assets	944M YoY+44.0%	656M YoY+15.9%	566M YoY-9.2%	623M YoY-1.5%	632M YoY+45.1%
	8.72B YoY+44.6%	6.03B YoY+15.6%	5.21B YoY+53.0%	3.41B YoY+7.6%	3.16B YoY+48.0%
Accounts payable	2.83B YoY+35.1%	2.10B YoY+3.4%	2.03B YoY+55.7%	1.30B YoY+4.1%	1.25B YoY+56.8%
Accrued liabilities	4.58B YoY+23.0%	3.72B YoY+21.6%	3.06B YoY+42.2%	2.15B YoY-4.5%	2.25B YoY+49.3%
Deferred revenue	3.26B YoY+51.6%	2.15B YoY+39.7%	1.54B YoY+34.8%	1.14B YoY+42.2%	803M YoY+51.8%
Short-term & current debt	764M YoY+1118.7%	62.7M YoY-88.3%	535M YoY+1327.4%	37.5M YoY+179.4%	13.4M YoY+27.4%
Current lease liability	114M YoY+21.5%	94.2M YoY+20.7%	78.0M YoY+5.3%	74.1M YoY-5.4%	78.3M YoY-8.1%
	15.9B YoY+40.0%	11.4B YoY+14.1%	9.95B YoY+23.4%	8.07B YoY+4.2%	7.74B YoY+91.1%
Long-term debt	1.81B YoY+0.0%	1.81B YoY+0.0%	1.81B YoY+0.0%	1.81B YoY+0.0%	1.81B YoY+0.0%
Deferred revenue (non-current)	48.9M YoY+0.0%	48.9M YoY+0.0%	48.9M YoY+0.0%	48.9M YoY+0.0%	48.9M YoY+0.0%
Non-current lease liability	310M YoY+39.3%	222M YoY+18.9%	187M YoY+9.0%	172M YoY+0.6%	170M YoY-4.7%
Deferred tax liabilities	503M YoY+42.3%	353M YoY+39.1%	254M YoY+11.5%	228M YoY+19.2%	191M YoY+14.8%
Other non-current liabilities	1.14B YoY+75.2%	650M YoY+2.2%	636M YoY+12.1%	568M YoY+16.5%	487M YoY+24.6%
	8.94B YoY+22.1%	7.32B YoY+16.7%	6.27B YoY+16.5%	5.38B YoY+5.3%	5.11B YoY+17.7%
Common stock	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%
Additional paid-in capital	4.28B YoY+24.2%	3.44B YoY+14.7%	3.00B YoY+10.4%	2.72B YoY+4.0%	2.62B YoY+20.5%
Retained earnings	6.67B YoY+16.9%	5.71B YoY+17.5%	4.86B YoY+16.7%	4.16B YoY+12.1%	3.71B YoY+13.8%
Treasury stock	1.71B YoY+16.9%	1.46B YoY+11.9%	1.31B YoY+9.9%	1.19B YoY+21.2%	980M YoY+14.3%
Accumulated other comprehensive income	-307M YoY+17.6%	-373M YoY-31.7%	-283M YoY+8.9%	-311M YoY-30.7%	-238M YoY-2.0%
Non-controlling interest	89.6M YoY+647.7%	12.0M YoY+7.8%	11.1M YoY-27.6%	15.4M YoY+232.4%	4.62M YoY-3.6%
Total equity incl. non-controlling	9.03B YoY+23.2%	7.33B YoY+16.7%	6.28B YoY+16.4%	5.40B YoY+5.5%	5.12B YoY+17.7%
Total liabilities & equity	24.9B YoY+33.4%	18.7B YoY+15.1%	16.2B YoY+20.6%	13.5B YoY+4.7%	12.9B YoY+53.1%
Common shares issued	180M YoY+1.6%	177M YoY+1.6%	174M YoY+1.9%	171M YoY+1.2%	169M YoY+3.6%
Common shares outstanding	150M YoY+1.3%	148M YoY+1.5%	146M YoY+1.8%	143M YoY+0.2%	143M YoY+3.1%
Shares outstanding (cover)	149M YoY+1.0%	148M YoY+1.6%	145M YoY+1.7%	143M YoY+0.3%	142M YoY+2.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.23B YoY+7.1%	2.08B YoY+32.1%	1.58B YoY+39.4%	1.13B YoY+94.1%	582M YoY-47.8%
Depreciation & amortization	412M YoY+14.5%	359M YoY+10.6%	325M YoY+11.7%	291M YoY+13.7%	256M YoY+13.4%
Share-based compensation	182M YoY+20.9%	151M YoY+18.7%	127M YoY+20.0%	106M YoY+19.6%	88.3M YoY-3.7%
Deferred income taxes	37.6M YoY+551.7%	-8.32M YoY-318.2%	3.82M YoY-90.9%	42.1M YoY+61.3%	26.1M YoY+143.4%
Change in inventory	122M YoY+208.1%	39.5M YoY+1502.3%	-2.82M YoY-114.6%	19.3M YoY+1463.4%	-1.42M YoY+85.6%
Other operating activities	79.8M YoY+435.6%	14.9M YoY-32.5%	22.1M YoY+236.7%	-16.2M YoY-342.7%	6.66M
	-3.83B YoY-67.0%	-2.29B YoY-131.8%	-990M YoY-60.3%	-617M YoY+78.7%	-2.90B YoY-480.5%
Capital expenditure	609M YoY+0.8%	604M YoY+38.9%	435M YoY+1.7%	428M YoY+10.8%	386M YoY+48.4%
Acquisitions	3.05B YoY+74.8%	1.75B YoY+167.9%	652M YoY+234.0%	195M YoY-92.0%	2.45B YoY+738.0%
Purchases of investments	149M YoY+81.9%	81.9M YoY+986.3%	7.54M YoY-90.3%	78.1M YoY-43.8%	139M YoY+835.8%
Sales/maturities of investments	17.0M YoY-41.8%	29.2M YoY-30.8%	42.3M YoY+104.8%	20.6M YoY-29.1%	29.1M YoY+108.5%
Proceeds from sale of PP&E	—	—	—	62.1M YoY+26.2%	49.2M YoY+39.0%
Other investing activities	-13.6M YoY+55.3%	-30.5M YoY-516.9%	7.31M YoY+534.6%	1.15M YoY+32.9%	867K
	1.27B YoY+517.2%	-306M YoY-213.8%	269M YoY+186.3%	-311M YoY-113.2%	2.36B YoY+492.6%
Net short-term debt	—	—	—	-15.7M YoY-237.5%	11.4M YoY+335.1%
Common stock repurchased	135M	0.00 YoY-100.0%	350K YoY-99.7%	128M YoY+91.6%	66.7M YoY-73.0%
Dividends paid	60.4M YoY+11.5%	54.2M YoY+13.5%	47.8M YoY+16.3%	41.1M YoY+20.7%	34.0M YoY+17.8%
Other financing activities	-59.5M YoY-1455.7%	-3.82M YoY-111.8%	32.5M YoY+189.5%	-36.3M YoY-217.5%	-11.4M
FX effect on cash	—	—	—	-723K YoY-270.1%	425K YoY-76.0%
Net change in cash	-303M YoY+44.8%	-549M YoY-163.7%	862M YoY+328.1%	201M YoY+346.6%	45.1M YoY+164.2%
Interest paid	217M YoY+30.7%	166M YoY-5.4%	176M YoY+65.8%	106M YoY+101.1%	52.7M YoY+64.1%
Income taxes paid	347M YoY+153.9%	137M YoY-45.0%	249M YoY+122.8%	112M YoY-11.0%	125M YoY-45.8%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	62.9B YoY+34.9%	46.7B YoY+48.8%	31.4B YoY+54.0%	20.4B YoY+24.6%	16.3B YoY+63.4%
P/E	60.4× YoY+20.1%	50.3× YoY+15.1%	43.7× YoY-5.7%	46.4× YoY+39.7%	33.2× YoY+48.0%
P/S	2.2× YoY+12.1%	2.0× YoY+22.7%	1.6× YoY+30.6%	1.2× YoY-2.4%	1.3× YoY+41.0%
P/B	7.0× YoY+10.4%	6.4× YoY+21.8%	5.2× YoY+33.4%	3.9× YoY+22.7%	3.2× YoY+38.8%
P/FCF	38.8× YoY+22.9%	31.6× YoY-25.4%	42.3× YoY-36.3%	66.4× YoY-20.1%	83.1× YoY+611.5%
Earnings yield	1.7% YoY-16.7%	2.0% YoY-13.1%	2.3% YoY+6.1%	2.2% YoY-28.4%	3.0% YoY-32.4%
FCF yield	2.6% YoY-18.7%	3.2% YoY+34.1%	2.4% YoY+56.9%	1.5% YoY+25.1%	1.2% YoY-85.9%
Dividend yield	0.1% YoY-17.0%	0.1% YoY-23.4%	0.2% YoY-24.9%	0.2% YoY-6.7%	0.2% YoY-25.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PWR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PWR filings on SEC EDGAR → Not investment advice.

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financial statements