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Quanta Services PWR Underground and Infrastructure — Goodwill

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Other financials

Income statement

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Revenue$7.9B+26.3%
Gross profit$1.1B+32.8%
Operating income$338.8M+41.7%
Net income$220.6M+52.9%
EPS (diluted)$1.45+51.0%

Balance sheet

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Cash & equivalents$369.8M-29.3%
Total debt$6.4B+32.5%
Total equity$9.0B+21.3%
Total assets$25.7B+34.6%

Cash flow

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Operating cash flow$391.7M+61.1%
CapEx$220.1M+65.8%
Free cash flow$171.7M+55.4%

Valuation

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Market cap$93.91B+53.8%
Enterprise value$99.9B+52.1%
P/E85×+22.2×
P/S3.1×+0.8×

Profitability

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Gross margin15.1%+0.1pp
Operating margin5.7%-0.1pp
Net margin3.7%-0.1pp
FCF margin5.6%-0.2pp

Returns & leverage

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Return on equity13.4%-0.1pp
Debt / equity0.7×+0.1×
Current ratio1.1×-0.2×

Where this comes from

Reported directly by Quanta Services in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: Quanta Services’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Quanta Services's underground and infrastructure — goodwill?
Quanta Services (PWR) reported underground and infrastructure — goodwill of $2.18B in Q4 2025.
How has Quanta Services's underground and infrastructure — goodwill changed year-over-year?
Quanta Services's underground and infrastructure — goodwill increased by 158.9% year-over-year, from $843.36M to $2.18B.
What does underground and infrastructure — goodwill mean?
This represents the total carrying value of goodwill associated with the Underground and Infrastructure business segment. It reflects the premium paid over the fair value of net identifiable assets during acquisitions within this specific operational unit. This balance is subject to periodic impairment testing to ensure it does not exceed its recoverable amount.