企業概要
Primoris Services Corporation is an enterprise that delivers comprehensive infrastructure services, with a primary operational focus within the United States and Canada markets. The corporation functions within the Industrials sector, specifically categorized under the Engineering & Construction industry, which typically involves the planning, design, and execution of complex physical assets. This business entity operates on a significant scale, boasting a market capitalization of $8.49B, an annual revenue of $7.57B, and an employee count of 18526. The magnitude of the $8.49B market cap combined with the $7.57B in annual revenue indicates that the company holds a substantial position within the industrial services landscape, serving as a major provider of utility and energy solutions.
財務健全性
The company reported a revenue of $7.57B and generated a net income of $274.90M over the trailing twelve-month period, with an EBITDA standing at $505.80M. The substantial disparity between the $7.57B revenue and the $274.90M net income highlights a cost structure where operating expenses, including labor and materials inherent to engineering and construction, consume a significant portion of gross receipts before reaching the bottom line. Free cash flow for the period amounted to $291.64M, which signifies the company's capacity to generate cash after capital expenditures, thereby providing financial flexibility for operational investments or debt servicing. The margin profile reveals a gross margin of 10.7%, an operating margin of 4.2%, and a profit margin of 3.6%, indicating that the business model relies on high volume to maintain profitability amidst substantial operational costs. Regarding balance sheet liquidity, the company holds $535.50M in cash against total debt of $950.90M, resulting in a debt-to-equity ratio of 56.57%, which suggests a leveraged capital structure rather than a conservative one. Short-term liquidity is assessed via a current ratio of 1.26, indicating that the firm possesses sufficient current assets to cover its current liabilities, though the buffer is relatively narrow. Finally, the Return on Equity stands at 17.8% while the Return on Assets is 6.0%, metrics that collectively reveal management's effectiveness in utilizing shareholders' equity and total assets to generate returns.
バリュエーション評価
Valuation multiples for Primoris Services show a P/E Ratio (TTM) of 31.13 and a Forward P/E of 23.35, implying that the market expects earnings growth in the future to compress the current valuation multiple. The price-to-book ratio is recorded at 5.03, suggesting that the market assigns a significant premium to the company's assets compared to their book value, potentially reflecting intangible value or growth expectations. Alternative valuation metrics such as the price-to-sales ratio of 1.12 and an EV/EBITDA of 17.56 provide context for the company's pricing relative to its sales scale and earnings power. Historical price volatility is bounded by a 52-week high of $174.43 and a 52-week low of $52.22, meaning the stock is currently trading at a level that requires calculation to determine its precise percentage distance from these extremes. The beta value of 1.39 indicates that the stock price exhibits higher volatility than the broader market, moving more aggressively than the general index during periods of market fluctuation.
Growth & Income
Revenue growth for the year-on-year period is 6.7%, while earnings growth stands at -2.9%, indicating that earnings are currently expanding at a slower rate than revenue, likely due to margin compression or one-time costs affecting the bottom line. The company offers a dividend yield of 0.2% with a payout ratio of 6.4%, a structure where the low payout ratio suggests that the company retains the vast majority of its earnings rather than distributing them. Given the modest payout ratio, the company prioritizes reinvesting earnings into business operations and growth initiatives rather than paying substantial dividends to shareholders. Overall, the growth and income profile presents a scenario of moderate revenue expansion coupled with temporary earnings contraction and a minimal dividend distribution strategy.