Income StatementBalance SheetCash FlowSegments
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Quanta Services Business Segments

Business, geographic, and product segment breakdowns

Quanta Services generates $30.1B in annual revenue across 2 key segments: Electric ($6.5B), and Underground and Infrastructure (1) ($5.6B). The company-wide operating margin is 5.68%. Based on the Q1 2026 filing.

Electric$6.5BUnderground and Infrastructure (1) (TTM)$5.6B
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$108.56B
P/E Ratio98.27
ROE13.39%

Geographic

Percent of total revenues (in percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States0.2%92.9%92.8%93.3%0.1%93.4%
Canada—3.4%3.5%3.6%0.1%3.5%
Australia—2.7%2.9%2.6%—2.6%

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$6.0B$5.8B$6.3B$7.1B$7.3B$7.4B
Canada$246.5M$210.2M$238.4M$275.6M$294.5M$276.0M
Australia$163.8M$171.1M$198.1M$202.0M$208.3M$201.2M
Others$110.1M$63.9M$57.5M$40.8M$36.2M$35.9M

Property and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Foreign Countries$177.9M$180.4M$186.2M$188.4M$211.9M$216.3M

Percentage of total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Others0.1%1.0%0.8%0.5%—0.5%

Business Segments

Equity in earnings of integral unconsolidated affiliates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$12.9M$14.4M$13.7M—$14.5M
Electric$12.6M$13.9M$13.9M$13.9M$13.9M—
Underground and Infrastructure$0.0$0.0$0.0$0.0$0.0$0.0

Foreign currency translation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric-$3.4M$2.2M$2.2M$2.2M$2.2M—
Underground and Infrastructure-$2.9M$1.9M$1.9M$1.9M$1.9M—

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$4.5B———$5.1B—
Underground and Infrastructure$843.4M———$2.2B—

Goodwill, Acquired During Period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$281.5M$161.4M$161.4M$161.4M$161.4M—
Underground and Infrastructure$46.7M$333.0M$333.0M$333.0M$333.0M—

Goodwill adjustment, increase

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—————$88.9M

Operating Income (Loss), Before Corporate And Non-Allocated Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$489.7M$590.1M$590.1M$590.1M$590.1M—
Underground and Infrastructure$66.3M$99.6M$99.6M$99.6M$99.6M—

Depreciation expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$62.2M$71.3M$71.3M$71.3M$71.3M—

Segment Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$4.5B$4.9B$5.5B—$5.9B
Underground and Infrastructure$1.1B$1.2B$1.2B$1.3B$1.3B$1.3B
Electric$4.3B$5.2B$5.2B$5.2B$5.2B—

Segment operating expenses, (excluding depreciation expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underground and Infrastructure$1.1B$1.2B———$1.3B
Electric$4.2B$5.1B$5.1B$5.1B$5.1B—

Purchase price allocation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric-$2.7M$1.5M$1.5M$1.5M$1.5M—
Underground and Infrastructure$0.0$91.0K$91.0K$91.0K$91.0K—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$4.9B$5.5B$6.2B—$6.5B
Underground and Infrastructure (1)$1.2B$1.3B$1.3B$1.5B$1.4B$1.4B

Segment depreciation expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$66.3M$68.7M$72.4M—$82.8M
Underground and Infrastructure$22.8M$26.1M$25.3M$26.6M$28.1M$25.5M

Segment operating expense (excluding segment depreciation expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$4.5B$4.9B$5.4B—$5.8B

Segment Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—$408.2M$552.6M$703.8M—$561.1M
Underground and Infrastructure—$76.9M$90.7M$122.2M—$105.6M

Segment operating margin

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—8.3%10.1%11.4%—8.7%

Goodwill adjustment, increase due to certain contingent consideration adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underground and Infrastructure—$11.0M$11.0M$11.0M$11.0M—

Segment operating margin (percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underground and Infrastructure—6.0%6.9%8.4%0.2%7.5%