Financials Quanta Services, Inc.

Equities

PWR

US74762E1029

Construction & Engineering

Real-time Estimate Cboe BZX Other stock markets 10:18:43 2024-05-15 am EDT			5-day change	1st Jan Change
268.3 ^USD	+1.89%		+0.72%	+23.68%

May. 07	Argus Adjusts Price Target on Quanta Services to $295 From $286	MT
May. 07	ANALYST RECOMMENDATIONS : Nvidia, The Home Depot, Lowe's, Rollins...

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,794	10,001	16,339	20,363	31,352	38,553	-	-
Enterprise Value (EV) ¹	6,997	11,005	19,864	23,665	34,261	40,820	39,791	38,323
P/E ratio	14.9 x	23.5 x	34.3 x	42.9 x	43.2 x	43.4 x	35.9 x	31.1 x
Yield	0.42%	0.29%	0.22%	0.2%	0.15%	0.13%	0.14%	0.17%
Capitalization / Revenue	0.48 x	0.89 x	1.26 x	1.19 x	1.5 x	1.69 x	1.56 x	1.44 x
EV / Revenue	0.58 x	0.98 x	1.53 x	1.39 x	1.64 x	1.79 x	1.61 x	1.43 x
EV / EBITDA	7.43 x	10.5 x	15.8 x	14 x	17.6 x	18.6 x	16.3 x	13.7 x
EV / FCF	23.6 x	12.9 x	80.7 x	30.9 x	28.3 x	27.1 x	29.4 x	26.8 x
FCF Yield	4.23%	7.78%	1.24%	3.24%	3.53%	3.68%	3.4%	3.73%
Price to Book	1.48 x	2.41 x	3.26 x	3.92 x	5.01 x	5.78 x	5.03 x	4.35 x
Nbr of stocks (in thousands)	142,330	138,861	142,499	142,901	145,285	146,388	-	-
Reference price ²	40.71	72.02	114.7	142.5	215.8	263.4	263.4	263.4
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	12,112	11,203	12,980	17,074	20,882	22,748	24,732	26,859
EBITDA ¹	941.8	1,050	1,259	1,685	1,947	2,191	2,442	2,799
EBIT ¹	554.9	611.4	663.5	872.1	1,128	1,363	1,653	1,872
Operating Margin	4.58%	5.46%	5.11%	5.11%	5.4%	5.99%	6.68%	6.97%
Earnings before Tax (EBT) ¹	572.3	571.3	622.9	703.9	970	1,243	1,503	1,614
Net income ¹	402	445.6	486	491.2	744.7	910.3	1,106	1,243
Net margin	3.32%	3.98%	3.74%	2.88%	3.57%	4%	4.47%	4.63%
EPS ²	2.730	3.070	3.340	3.320	5.000	6.072	7.329	8.472
Free Cash Flow ¹	295.9	855.9	246.3	766.8	1,210	1,504	1,354	1,428
FCF margin	2.44%	7.64%	1.9%	4.49%	5.8%	6.61%	5.47%	5.32%
FCF Conversion (EBITDA)	31.42%	81.52%	19.56%	45.51%	62.17%	68.64%	55.45%	51.02%
FCF Conversion (Net income)	73.61%	192.09%	50.68%	156.11%	162.55%	165.23%	122.37%	114.89%
Dividend per Share ²	0.1700	0.2100	0.2500	0.2900	0.3300	0.3400	0.3789	0.4400
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,924	3,966	4,232	4,460	4,417	4,429	5,049	5,621	5,784	5,032	5,504	6,244	5,981	5,489	6,023
EBITDA ¹	390.8	345.5	422.1	467.4	449.9	332.4	472.1	592.5	550.2	387.3	519.3	673.6	620.7	484.2	598.9
EBIT ¹	140.1	117.5	208.4	286.8	259.4	125.9	279.3	400.3	322.5	155.4	324.2	462.7	417.8	281	395.4
Operating Margin	3.57%	2.96%	4.92%	6.43%	5.87%	2.84%	5.53%	7.12%	5.58%	3.09%	5.89%	7.41%	6.99%	5.12%	6.56%
Earnings before Tax (EBT) ¹	121	91.58	137.4	229.2	245.7	93.55	236	351	289.4	147.2	282.4	429.6	384.4	253.4	362.8
Net income ¹	104.8	84.64	88.02	156	162.6	95.05	165.9	272.8	210.9	118.4	201.3	317.6	276.7	193.5	266.2
Net margin	2.67%	2.13%	2.08%	3.5%	3.68%	2.15%	3.29%	4.85%	3.65%	2.35%	3.66%	5.09%	4.63%	3.53%	4.42%
EPS ²	0.7100	0.5700	0.5900	1.060	1.100	0.6400	1.120	1.830	1.420	0.7900	1.374	2.105	1.832	1.180	1.763
Dividend per Share ²	0.0700	0.0700	0.0700	0.0700	0.0800	0.0800	0.0800	0.0800	0.0900	0.0900	0.0840	0.0840	0.0840	0.0850	0.0867
Announcement Date	2/24/22	5/5/22	8/4/22	11/3/22	2/23/23	5/4/23	8/3/23	11/2/23	2/22/24	5/2/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,202	1,004	3,525	3,301	2,908	2,267	1,238	-
Net Cash position ¹	-	-	-	-	-	-	-	230
Leverage (Debt/EBITDA)	1.277 x	0.9567 x	2.799 x	1.959 x	1.494 x	1.035 x	0.507 x	-
Free Cash Flow ¹	296	856	246	767	1,210	1,504	1,354	1,428
ROE (net income / shareholders' equity)	12.9%	13.2%	10.3%	9.36%	12.8%	12.3%	13.9%	13.2%
ROA (Net income/ Total Assets)	6.39%	-	4.57%	3.73%	5.01%	5.7%	6.3%	6.7%
Assets ¹	6,295	-	10,627	13,160	14,851	15,970	17,560	18,551
Book Value Per Share ²	27.50	29.90	35.20	36.40	43.10	45.60	52.40	60.50
Cash Flow per Share ²	3.570	7.680	4.010	7.640	10.60	10.00	11.50	12.90
Capex ¹	231	260	386	428	435	445	481	534
Capex / Sales	1.9%	2.32%	2.97%	2.5%	2.08%	1.96%	1.95%	1.99%
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Quanta Services, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

263.4 USD

Average target price

270.7 USD

Spread / Average Target

+2.78%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Construction & Engineering

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CHINA RAILWAY CONSTRUCTION CORPORATION LIMITED	+15.90%	15.51B
BOUYGUES SA	+5.80%	14.64B

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