Quanta Services (PWR) FY2025 10-K Annual Report
Quanta Services (PWR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Quanta Services FY2025 10-K Analysis
Business Overview
- • Core business model: labor-intensive infrastructure services focused on electric, underground, and other infrastructure projects
- • Increased emphasis on managing elevated insurance costs and risks due to climate-driven natural disasters and wildfire liabilities
Management Discussion & Analysis
- • Revenue and operating income increased YoY in 2025 vs 2024 in both Electric and Underground segments (no specific $ revenue disclosed)
- • Net cash from operations $2.23B, up 7.1% YoY; $3.30B cash used for acquisitions and investments
Risk Factors
- • Regulatory risk from potential delays under environmental restrictions or regulatory processes affecting larger transmission and pipeline projects
- • Macroeconomic threat from fluctuations in customer capital spending and access to capital impacting demand for services across regions
Quanta Services FY2025 Key Financial MetricsXBRL
Revenue
$28.5B
▲ +20.3% YoY
Net Income
$1.0B
▲ +13.7% YoY
Gross Margin
15.0%
▲ +18bp YoY
Operating Margin
5.7%
▼ -3bp YoY
Net Margin
3.6%
▼ -21bp YoY
ROE
11.5%
▼ -86bp YoY
Total Assets
$24.9B
▲ +33.4% YoY
EPS (Diluted)
$6.80
▲ +12.8% YoY
Operating Cash Flow
$2.2B
▲ +7.1% YoY
Source: XBRL data from Quanta Services FY2025 10-K filing on SEC EDGAR. All figures in USD.
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