Quanta Services (PWR) FY2023 results: revenue $20.9 billion, up 22.3% on the year
Quanta Services, Inc. (PWR) reported revenue of $20.9 billion for fiscal 2023, the year ended 31 December 2023, up 22.3% on the year before. Net income was $745 million, up 51.6%, and diluted earnings per share $5.00. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$20.9 billion
+22.3% on the year
FY2016FY2023
Operating margin
5.4%
5.1% a year earlier
FY2016FY2023
Net income
$745 million
+51.6% on the year
FY2016FY2023
Diluted EPS
$5.00
+50.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,576
1,130
582
+39.4%
Capital expenditure
435
428
386
+1.7%
Free cash flow
1,141
703
197
+62.4%
Free cash flow margin
5.5%
4.1%
1.5%
Cash from investing
-990
-617
-2,899
Cash from financing
268
-311
2,361
Depreciation and amortisation
614
645
421
-4.8%
Share-based compensation
127
106
88.3
+20.0%
Buybacks
0.3
128
66.7
-99.7%
Dividends paid
47.8
41.1
34.0
+16.3%
Dividend per share
$0.33
$0.29
$0.25
+13.8%
Diluted shares, weighted
149m
148m
145m
+0.6%
Shares outstanding at period end
146m
143m
143m
+1.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,272
5,383
5,112
+16.5%
Non-controlling interest
11.1
15.4
4.6
-27.6%
Debt
4,199
3,730
3,754
+12.6%
Operating lease liabilities
187
172
170
+9.0%
Finance lease liabilities
31.8
2.1
1.4
+1,408.3%
Other liabilities
5,536
4,162
3,813
+33.0%
Total liabilities and equity
16,237
13,464
12,855
+20.6%
Goodwill
4,046
3,587
3,529
+12.8%
Intangible assets
1,362
1,459
1,801
-6.6%
Cash and equivalents
1,290
429
229
+201.1%
Receivables
4,411
3,675
3,400
+20.0%
Inventory
176
103
84.7
+70.1%
Other assets
4,952
4,213
3,811
+17.6%
Total assets
16,237
13,464
12,855
+20.6%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.