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Quanta Services PWR Underground and Infrastructure — Segment operating expenses, (excluding depreciation expense)

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Other financials

Income statement

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Revenue$9.6B+41.1%
Gross profit$1.5B+53.4%
Operating income$694.8M+87.6%
Net income$451.4M+96.9%
EPS (diluted)$2.96+94.7%

Balance sheet

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Cash & equivalents$512.1M-0.1%
Total debt$6.6B+28.9%
Total equity$9.6B+22.7%
Total assets$28.3B+42.2%

Cash flow

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Operating cash flow$1.1B+270%
CapEx$231.0M+64.6%
Free cash flow$864.5M+456%

Valuation

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Market cap$100.41B+73.9%
Enterprise value$106.54B+70.8%
P/E75.7×+16.3×
P/S3.1×+0.8×

Profitability

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Gross margin15.5%+0.4pp
Operating margin6.2%+0.5pp
Net margin4%+0.3pp
FCF margin7.3%+2.1pp

Returns & leverage

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Return on equity15.2%+1.7pp
Debt / equity0.7×0.0×
Current ratio1.1×-0.3×

Where this comes from

Reported directly by Quanta Services in its filing.

Tagged under the XBRL concept pwr:SegmentOperatingExpensesExcludingDepreciation.

The source filing: Quanta Services’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 10:07 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001050915-26-000025
Three Months Ended June 30, 2026ElectricUnderground and InfrastructureTotal
Revenues$7,837,805$1,719,192$9,556,997
Segment operating expense (excluding segment depreciation expense)6,864,4321,538,7748,403,206
Segment depreciation expense86,73824,646111,384
Segment operating expenses6,951,1701,563,4208,514,590
Equity in earnings of integral unconsolidated affiliates11,59011,590
Segment operating income$898,225$155,772$1,053,997
Segment operating margin11.5%9.1%
Corporate and non-allocated costs (1)(359,163)

Item 1. Financial Statements (Unaudited)

FAQ

What is Quanta Services's underground and infrastructure — segment operating expenses, (excluding depreciation expense)?
Quanta Services (PWR) reported underground and infrastructure — segment operating expenses, (excluding depreciation expense) of $1.54B in Q2 2026.
How has Quanta Services's underground and infrastructure — segment operating expenses, (excluding depreciation expense) changed year-over-year?
Quanta Services's underground and infrastructure — segment operating expenses, (excluding depreciation expense) increased by 28.3% year-over-year, from $1.2B to $1.54B.
What is the long-term trend for Quanta Services's underground and infrastructure — segment operating expenses, (excluding depreciation expense)?
Over 2 years (2022 to 2024), Quanta Services's underground and infrastructure — segment operating expenses, (excluding depreciation expense) has grown at a 4.4% compound annual growth rate (CAGR), from $3.95B to $4.31B.
What does underground and infrastructure — segment operating expenses, (excluding depreciation expense) mean?
This metric represents the total cash-based operating costs incurred by the Underground and Infrastructure segment to deliver its specialized contracting services. It excludes non-cash depreciation charges, focusing strictly on the direct and indirect expenses required to execute projects, such as labor, materials, equipment rentals, and field overhead. This figure provides a clear view of the segment's operational cost structure and efficiency in managing project-related expenditures.

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