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Specialty construction contractor building utility, pipeline and renewable-energy infrastructure across the US.
Specialty construction contractor building utility, pipeline and renewable-energy infrastructure across the US.
Wins construction jobs through bids and long-term service agreements, many of them fixed-price or priced per unit of work, so margin depends on managing labour, equipment and weather against its bid. A large share is repeat work for utilities under master service agreements. Renewable-energy and pipeline projects are lumpier.
Moat: narrow (scale, process know-how). Scale, safety record and specialized crews matter in a competitively bid but skills-constrained industry.
Headquarters: Dallas, Texas, US · Founded: 1946 · Employees: 18,526
Size Primoris Services (PRIM) is a United States Industrials company (Engineering & Construction) with a market value of $3.52B, the 1429th largest of 3,117 United States companies the cockpit tracks. Shares closed at $65.40 on 6 Nov 2026.
Performance Over six months the shares fell 37.6%, against -13.8% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 5.4% over the last twelve months (peer median +4.6%); the operating margin is 2.5% (peer median 8.3%).
Valuation It trades at 13.7× forward earnings against a peer median of 13.0× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.9 points below its cost of capital (10.4% WACC).
Backlog Backlog (remaining performance obligations) was $5.90B at 30 Sep 2026, up 34% on a year earlier — 0.8 years of trailing revenue. Backlog detail →
Short interest Short interest is 8.9% of the free float (15 Oct 2026).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.06B | $7.57B | $6.37B | $5.72B | $4.42B |
| Revenue growth | — | +19% | +11% | +29% | — |
| Gross profit | $597M | $813M | $703M | $587M | $457M |
| EBITDA | $291M | $506M | $415M | $366M | $274M |
| Net income | $96.3M | $275M | $181M | $126M | $133M |
| Free cash flow | $37.6M | $340M | $382M | $95.5M | -$11.3M |
| Capital expenditure | $114M | $130M | $127M | $103M | $94.7M |
| Total debt | $1.26B | $951M | $1.19B | $1.32B | $1.35B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Primoris Services PRIM | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% |
| MYR MYRG | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% |
| MasTec MTZ | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% |
| Quanta Services PWR | $81.5B | -27% | +37% | 7% | 26.4× | 24.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PRIM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.9% | +0.4% | 5th lowest of 21 |
| 6-month return | -37.6% | -13.8% | 3rd lowest of 21 |
| Distance from 52-week high | -68.2% | -28.3% | lowest of 21 |
| Revenue growth (TTM) | -5.4% | +4.6% | 4th lowest of 21 |
| Operating margin | 2.5% | 8.3% | 2nd lowest of 21 |
| Forward P/E | 13.7× | 13.0× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 22.8% | 2.8% | 2nd most demanding of 20 |
| Growth delivered (Del g) | +16.8% | +10.3% | 5th highest of 20 |
| Hurdle (Req g minus delivered) | +6.0 pp | -5.9 pp | 3rd most demanding of 20 |
| ROIC minus cost of capital | -4.9 pp | +2.4 pp | lowest of 18 |
| Net debt / EBITDA | 3.6× | -0.1× | 3rd most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
Primoris Services reported $5.90B of remaining performance obligations at 30 Sep 2026, up 34% from a year earlier and down 2% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 0.95.