PWR·Construction & Engineering — specialty energy infrastructure (electric power, renewables, underground/pipeline)

Quanta Services

ConvictionModerate

Labor-intensive infrastructure services contractor: self-performed skilled craft labor under utility master service agreements (MSAs) plus fixed-price and cost-plus/EPC contracts for utilities, IPPs, pipeline operators and (increasingly) hyperscalers. Revenue is project- and backlog-driven, monetized via billable labor, owned equipment fleet, and a fast-growing off-site manufacturing/fabrication layer (transformers, modular substations).

Revenuefact

$28.48B FY25 / $7.87B Q1 FY26

Rev growthfact

+20.3% FY25 YoY+26.3% Q1 FY26 YoY

Gross margin

~15.0% FY25$4.28B gross profit; fact

Op marginfact

~5.7% FY25 GAAP op margin$1.61B); ~10.1% adj-EBITDA margin

Capex intensity

~2.1% of revenueFY25 capex $609M / $28.48B; fact

Market cap

~$105B25 Jun 2026, fact

Price · 1-year trend

real · weekly

$719+89% 1yUSD

52-week range

$373 – $770

52w lowas of 2026-06-25 · Yahoo Finance52w high

Across the boards

The thesis on this name

opportunityModerate

AI datacenter power & cooling

Full context

position · longModerate

AI datacenter power & cooling

Full context

book · long

AI datacenter power & cooling

Full context

The read

Where our coverage leans

Coverage leans bullish

Members only

Full financial intelligence for Quanta Services

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence