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Primoris Services Corporation provides infrastructure services primarily in the United States and Canada. The company operates in two segments: Utilities and Energy. The Utilities segment offers installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems. The Energy segment provides engineering, procurement, construction, and maintenance services for entities in the energy, renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries, as well as state departments of transportation. The company also provides replacement services. Primoris Services Corporation was founded in 1960 and is headquartered in Dallas, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.6B | $505M | $275M | $341M | 16.4% | 19.0% | 52.0% |
| 2024 | $6.4B | $416M | $181M | $382M | 12.8% | 11.4% | 43.5% |
| 2023 | $5.7B | $363M | $126M | $96M | 10.2% | 29.3% | -5.2% |
| 2022 | $4.4B | $298M | $133M | $-11M | 12.0% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,420.60 | 5,715.30 | 6,366.80 | 7,574.90 |
| Operating Revenue | - | 4,420.60 | 5,715.30 | 6,366.80 | 7,574.90 |
| Cost Of Revenue | - | 3,963.71 | 5,127.80 | 5,663.60 | 6,761.80 |
| Gross Profit | - | 456.88 | 587.50 | 703.20 | 813.10 |
| Operating Expense | - | 281.58 | 328.70 | 383.30 | 399.20 |
| Selling General And Administration | - | 281.58 | 328.70 | 383.30 | 399.20 |
| Total Expenses | - | 4,245.29 | 5,456.50 | 6,046.90 | 7,161 |
| Operating Income | - | 175.31 | 258.80 | 319.90 | 413.90 |
| Total Operating Income As Reported | - | 195.34 | 253.10 | 317.40 | 411.50 |
| EBITDA | - | 297.65 | 362.80 | 415.70 | 504.60 |
| Normalized EBITDA | - | 276.54 | 367.40 | 415.50 | 507.10 |
| EBIT | - | 198.50 | 255.80 | 320.20 | 412.70 |
| Interest Expense | - | 39.21 | 78.20 | 65.30 | 28.70 |
| Net Interest Income | - | -39.21 | -78.20 | -65.30 | -28.70 |
| Other Non Operating Income Expenses | - | 2.07 | 1.60 | 0.10 | 1.30 |
| Other Income Expense | - | 23.19 | -3 | 0.30 | -1.20 |
| Interest Expense Non Operating | - | 39.21 | 78.20 | 65.30 | 28.70 |
| Net Non Operating Interest Income Expense | - | -39.21 | -78.20 | -65.30 | -28.70 |
| Pretax Income | - | 159.29 | 177.60 | 254.90 | 384 |
| Tax Provision | - | 26.26 | 51.50 | 74 | 109.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 3.48 | -1.33 | 0.06 | -0.71 |
| Net Income Continuous Operations | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income From Continuing And Discontinued Operation | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income From Continuing Operation Net Minority Interest | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income Common Stockholders | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income Including Noncontrolling Interests | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Normalized Income | - | 115.39 | 129.37 | 180.76 | 276.69 |
| Diluted NI Availto Com Stockholders | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Basic Average Shares | - | 53.20 | 53.30 | 53.64 | 54 |
| Diluted Average Shares | - | 53.76 | 54.22 | 54.58 | 54.80 |
| Reconciled Depreciation | - | 99.16 | 107 | 95.50 | 91.90 |
| Reconciled Cost Of Revenue | - | 3,963.71 | 5,127.80 | 5,663.60 | 6,761.80 |
| Total Unusual Items | - | 21.12 | -4.60 | 0.20 | -2.50 |
| Total Unusual Items Excluding Goodwill | - | 21.12 | -4.60 | 0.20 | -2.50 |
| Minority Interests | -0.13 | - | - | - | - |
| Special Income Charges | - | 20.03 | -5.70 | -2.50 | -2.40 |
| Restructuring And Mergern Acquisition | - | 20.05 | 5.70 | 2.50 | 2.40 |
| Gain On Sale Of Security | - | 1.09 | 1.10 | 2.70 | -0.10 |
| Gain On Sale Of Ppe | 0 | 40.08 | 0 | 0 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Primoris Services Corporationthis co. | PRIM | $6.9B | 25.19 | 4.12 | 16.4% | 14.55 |
| Mercury Systems, Inc. | MRCY | $7.1B | -186.64 | 4.80 | -2.6% | 113.93 |
| MYR Group Inc. | MYRG | $7.0B | 59.36 | 10.64 | 17.9% | 29.91 |
| Enpro Inc. | NPO | $6.7B | 165.58 | 4.34 | 2.6% | 37.34 |
| Pool Corporation | POOL | $6.7B | 16.43 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 5.63 |
| 34.3% |
| 12.83 |
| Gates Industrial Corporation plc | GTES | $6.6B | 26.38 | 1.99 | 7.5% | 12.16 |
| Federal Signal Corporation | FSS | $6.6B | 26.69 | 4.76 | 17.8% | 16.97 |
| JBT Marel Corporation | JBTM | $6.5B | -129.10 | 1.46 | -1.1% | 25.87 |
| Armstrong World Industries, Inc. | AWI | $6.5B | 21.12 | 7.24 | 34.3% | 12.46 |
| Peer Median | - | 23.75 | 4.78 | 12.7% | 21.42 | |