Question 1

What is Quanta Services's P/FCF ratio?

Accepted Answer

Quanta Services (PWR) P/FCF ratio is 58.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Quanta Services?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Quanta Services specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Quanta Services's P/FCF ratio high or low?

Accepted Answer

Quanta Services's P/FCF ratio of 58.2× is below its own 5-year average of 119.5× and above the sector median of 24.3×. That places the current reading at the 73th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Quanta Services's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Quanta Services (PWR) P/FCF ratio has ranged from a low of 1.2× in 2002 to a high of 1857.0× in 2022. The 5-year average is 119.5× and the 5-year median is 38.4×.

Question 7

What was Quanta Services's P/FCF ratio in 2025?

Accepted Answer

Quanta Services (PWR) P/FCF ratio at the end of 2025 was 39.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Quanta Services's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$64B	$1.62B	39.5×	+7.9×	Dec 31, 2025
2024	$46.7B	$1.48B	31.6×	+3.9×	Dec 31, 2024
2023	$31.4B	$1.13B	27.7×	-1.4×	Dec 31, 2023
2022	$20.4B	$702M	29.1×	-54.6×	Dec 31, 2022
2021	$16.4B	$196M	83.7×	+71.9×	Dec 31, 2021
2020	$10.1B	$855M	11.8×	-10.6×	Dec 31, 2020
2019	$5.94B	$264M	22.5×	-66.2×	Dec 31, 2019
2018	$4.5B	$50.7M	88.7×	+40.5×	Dec 31, 2018
2017	$6.16B	$128M	48.2×	+16.0×	Dec 31, 2017
2016	$5.4B	$168M	32.2×	+24.4×	Dec 31, 2016
2015	$3.31B	$423M	7.8×	-782.9×	Dec 31, 2015
2014	$6.26B	$7.92M	790.7×	+757.4×	Dec 31, 2014
2013	$6.86B	$206M	33.3×	—	Dec 31, 2013
2012	$5.82B	-$99.7M	—	—	Dec 31, 2012
2011	$4.53B	$45.6M	99.3×	+52.5×	Dec 31, 2011
2010	$4.24B	$90.6M	46.8×	+26.4×	Dec 31, 2010
2009	$4.32B	$212M	20.4×	+0.1×	Dec 31, 2009
2008	$3.87B	$191M	20.3×	-28.6×	Dec 31, 2008
2007	$4.46B	$91.3M	48.9×	+16.9×	Dec 31, 2007
2006	$2.31B	$72.2M	31.9×	-6.4×	Dec 31, 2006
2005	$1.53B	$39.9M	38.3×	+29.6×	Dec 31, 2005
2004	$922M	$105M	8.8×	-1.5×	Dec 31, 2004
2003	$832M	$81.2M	10.2×	+4.8×	Dec 31, 2003
2002	$394M	$72.1M	5.5×	—	Dec 31, 2002


Thomson Reuters (TRI)	18.8×
PACCAR (PCAR)	18.6×
United Parcel Service (UPS)	18.5×
Gorman-Rupp (GRC)	18.5×
Alamo Group (ALG)	18.0×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
United Airlines Holdings (UAL)	17.5×
Honeywell International (HON)	17.4×
Equifax (EFX)	17.0×
Norfolk Southern (NSC)	16.9×
FedEx (FDX)	15.9×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Masco (MAS)	13.0×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	10.1×
ABM Industries (ABM)	7.2×
Upwork (UPWK)	6.3×

P/FCF Ratio for Quanta Services (PWR) 2002-2026

P/FCF Ratio daily chart for Quanta Services (PWR)

Historical P/FCF Ratio for Quanta Services (PWR) from 2002 to 2025

About P/FCF Ratio at Quanta Services (PWR)

Quanta Services P/FCF Ratio by Year

Quanta Services P/FCF Ratio 2025: 39.5×

Quanta Services P/FCF Ratio 2024: 31.6×

Quanta Services P/FCF Ratio 2023: 27.7×

Quanta Services P/FCF Ratio 2022: 29.1×

Quanta Services P/FCF Ratio 2021: 83.7×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Quanta Services (PWR) Key Financials