公司概述
Primoris Services Corporation operates as a provider of infrastructure services with a primary geographic footprint in the United States and Canada. The company functions within the Industrials sector, specifically specializing in the Engineering & Construction industry, which typically involves complex project execution and technical service delivery. Its operational scale is substantial, characterized by a market capitalization of $8.49B, annual revenue reaching $7.57B, and an employed workforce of 18,526 individuals. These aggregate financial metrics and employee count indicate that the firm holds a significant position within its niche, suggesting it possesses the capacity to undertake large-scale utility projects while maintaining a broad operational reach across its two main segments of Utilities and Energy.
财务健康
The company reported revenue of $7.57B, net income of $274.90M, and EBITDA of $505.80M over the trailing twelve months. The substantial gap between the $7.57B revenue and the $274.90M net income reveals a cost structure where operating expenses and overheads absorb a significant portion of top-line growth, resulting in a net profit margin of only 3.6%. The firm generated free cash flow of $291.64M, which provides essential financial flexibility to fund capital expenditures, service existing debt obligations, or pursue strategic acquisitions without relying solely on external financing. Margin analysis shows a gross margin of 10.7%, indicating the cost of sales consumes the majority of revenue before overheads are applied; an operating margin of 4.2% reflects the efficiency of core business operations after accounting for SG&A and other operating expenses; and the profit margin of 3.6% demonstrates the final profitability after all expenses and taxes. Regarding liquidity and leverage, the company holds $535.50M in cash against $950.90M in debt, resulting in a debt-to-equity ratio of 56.57, which suggests a leveraged balance sheet rather than a conservative one. The current ratio stands at 1.26, indicating that the company holds $1.26 in current assets for every $1.00 of current liabilities, which signifies a moderate but sufficient level of short-term liquidity to meet immediate obligations. Return on equity is 17.8%, while return on assets is 6.0%, metrics that reveal management effectiveness in generating shareholder value relative to equity and utilizing total assets efficiently.
估值评估
The trailing twelve-month P/E ratio is 31.13, while the forward P/E is 23.35, implying that the market expects earnings to increase significantly in the future to justify the lower forward multiple compared to current earnings. The price-to-book ratio is 5.03, indicating that the stock trades at a substantial premium over its book value, reflecting market expectations of future growth or intangible asset value not captured on the balance sheet. Alternative valuation metrics include a price-to-sales ratio of 1.12 and an EV/EBITDA of 17.56, which suggest the market values the company at slightly more than one dollar of sales per dollar of revenue and at a premium relative to its earnings power adjusted for enterprise value. The 52-week high is $174.43 and the 52-week low is $52.22, placing the current trading context within a wide historical range where the stock has experienced significant volatility over the past year. The beta value is 1.39, meaning the stock price is expected to be 39% more volatile than the broader market, exposing investors to higher systematic risk during market downturns or rallies.
Growth & Income
Revenue growth stands at 6.7% year-over-year, whereas earnings growth is -2.9%, indicating that earnings are currently growing slower than revenue, which implies that operating leverage has not yet fully materialized or that costs have risen faster than income. For dividend analysis, the company offers a dividend yield of 0.2% with a payout ratio of 6.4%, suggesting a very conservative dividend policy where the payout is a small fraction of earnings. Given the low payout ratio, the company retains the majority of its earnings, allowing it to reinvest capital into infrastructure projects and operational expansion rather than distributing cash to shareholders. The overall growth and income profile reflects a mature infrastructure services firm that prioritizes capital retention for business continuity over aggressive dividend growth, balancing steady revenue expansion with a modest return to shareholders.