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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 |
| 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 |
| Operating Income | - | 175.31 | 258.80 | 319.90 | 413.90 |
| EBITDA | - | 297.65 | 362.80 | 415.70 | 504.60 |
| EBIT | - | 198.50 | 255.80 | 320.20 | 412.70 |
| Pretax Income | - | 159.29 | 177.60 | 254.90 | 384 |
| Tax Provision | - | 26.26 | 51.50 | 74 | 109.10 |
| Net Income | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Net Income Common Stockholders | - | 133.02 | 126.10 | 180.90 | 274.90 |
| Total Expenses | - | 4,245.29 | 5,456.50 | 6,046.90 | 7,161 |
| Interest Expense | - | 39.21 | 78.20 | 65.30 | 28.70 |
| Selling General And Administration | - | 281.58 | 328.70 | 383.30 | 399.20 |
| Normalized EBITDA | - | 276.54 | 367.40 | 415.50 | 507.10 |
| Normalized Income | - | 115.39 | 129.37 | 180.76 | 276.69 |
| Market Cap | 9,306.13 | 9,306.13 | 9,306.13 | 9,306.13 | 9,306.13 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Primoris Services Corporationthis co. | PRIM | $9.3B | 33.85↑ premium | 5.54 | 16.4% | 19.27 |
| AZZ Inc. | AZZ | $10.3B | 33.24 | 4.10 | 12.3% | 15.44 |
| Builders FirstSource, Inc. | BLDR | $10.0B | 22.24 | 2.22 | 10.0% | 10.60 |
| Powell Industries, Inc. | POWL | $9.1B | 50.94 | 14.37 | 28.2% | 38.90 |
| A. O. Smith Corporation | AOS |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $9.1B |
| 16.29 |
| 4.79 |
| 29.4% |
| 10.96 |
| Argan, Inc. | AGX | $9.0B | 66.17 | 19.72 | 29.8% | 62.32 |
| Zurn Elkay Water Solutions Corporation | ZWS | $8.9B | 44.40 | 5.48 | 12.3% | 24.21 |
| Armstrong World Industries, Inc. | AWI | $7.6B | 24.74 | 8.48 | 34.3% | 14.48 |
| Gates Industrial Corporation plc | GTES | $6.6B | 25.85 | 1.95 | 7.5% | 11.97 |
| Peer Median | - | 29.55 | 5.14 | 20.3% | 14.96 | |