Quanta Services (PWR) FY2024 results: revenue $23.7 billion, up 13.4% on the year
Quanta Services, Inc. (PWR) reported revenue of $23.7 billion for fiscal 2024, the year ended 31 December 2024, up 13.4% on the year before. Net income was $905 million, up 21.5%, and diluted earnings per share $6.03. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$23.7 billion
+13.4% on the year
FY2017FY2024
Operating margin
5.7%
5.4% a year earlier
FY2017FY2024
Net income
$905 million
+21.5% on the year
FY2017FY2024
Diluted EPS
$6.03
+20.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,081
1,576
1,130
+32.1%
Capital expenditure
604
435
428
+38.9%
Free cash flow
1,477
1,141
703
+29.4%
Free cash flow margin
6.2%
5.5%
4.1%
Cash from investing
-2,294
-990
-617
Cash from financing
-306
268
-311
Depreciation and amortisation
742
614
645
+20.9%
Share-based compensation
151
127
106
+18.7%
Buybacks
0.0
0.3
128
Dividends paid
54.2
47.8
41.1
+13.5%
Dividend per share
$0.37
$0.33
$0.29
+12.1%
Diluted shares, weighted
150m
149m
148m
+0.8%
Shares outstanding at period end
148m
146m
143m
+1.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
7,318
6,272
5,383
+16.7%
Non-controlling interest
12.0
11.1
15.4
+7.8%
Debt
4,162
4,199
3,730
-0.9%
Operating lease liabilities
222
187
172
+18.9%
Finance lease liabilities
36.4
31.8
2.1
+14.3%
Other liabilities
6,933
5,536
4,162
+25.2%
Total liabilities and equity
18,684
16,237
13,464
+15.1%
Goodwill
5,316
4,046
3,587
+31.4%
Intangible assets
1,861
1,362
1,459
+36.6%
Investments
242
n/a
n/a
Cash and equivalents
742
1,290
429
-42.5%
Receivables
5,171
4,411
3,675
+17.2%
Inventory
260
176
103
+48.1%
Other assets
5,092
4,952
4,213
+2.8%
Total assets
18,684
16,237
13,464
+15.1%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.