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Quanta Services PWR Underground and Infrastructure — Purchase price allocation adjustments

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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:GoodwillPurchaseAccountingAdjustments.

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 — purchase price allocation adjustments?
Quanta Services (PWR) reported underground and infrastructure — purchase price allocation adjustments of $91K in Q4 2025.
What is the long-term trend for Quanta Services's underground and infrastructure — purchase price allocation adjustments?
Over 3 years (2022 to 2025), Quanta Services's underground and infrastructure — purchase price allocation adjustments has grown at a -14.4% compound annual growth rate (CAGR), from $580K to $364K.
What does underground and infrastructure — purchase price allocation adjustments mean?
These are adjustments made to the initial fair value estimates of assets and liabilities acquired in business combinations within the Underground and Infrastructure segment. These adjustments occur during the measurement period as more information becomes available regarding the fair value of acquired items. They reflect the refinement of accounting estimates following the closing of an acquisition.