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Quanta Services, Inc. – Electrical Contractors and Other Wiring Installation Contractors
quanta services (nyse: pwr) is a full service engineering, procurement and construction (epc) service provider based in houston, texas. quanta was built on the vision of becoming the single-source solution to an array of complex market needs. this vision has allowed quanta to acquire the best companies in the industry and become the leading integrated solutions provider serving the electric power and oil and gas infrastructure markets. electric power • transmission • distribution • engineering • power plants • facilities • specialty services • renewable power – wind, solar, etc. oil and gas contractor • pipeline construction • integrity solutions • facilities construction • offshore and upstream services • trucking/logistics field services • trenching • engineering services • tank construction • power plant construction • hdd (horizontal directional drilling) • industrial engineering and construction part of what sets quanta services apart is the strength of our people. we have over 26
Analysis Results
Intrinsic Value $84.35
Latest Price $190.12
Relative Value 125% overvalued
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Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 7.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 7.4%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2023 0.746 0.686
2024 0.802 0.677
2025 0.861 0.668
2026 0.925 0.659
2027 0.993 0.65
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 14.8 billion. This corresponds to a present value of 8.91 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.34 billion. Adding in the terminal value gives a total present value of 12.2 billion.

There are presently 145.0 million outstanding shares, so the intrinsic value per share is 84.35.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 5,536,070,000
Current Cash 428,505,000
Current Liabilities 3,406,194,000
Current Debt 37,495,000
Non-Cash Working Capital (NCWC) 1,738,866,000
Change in NCWC 371,180,000
EBIT 890,937,000
Tax Provision 192,243,000
Depreciation and Amortization 644,620,000
Capital Expenditure -428,782,000
Unlevered Free Cash Flow 1,234,625,253
Current Assets 4,732,577,000
Current Cash 229,097,000
Current Liabilities 3,164,960,000
Current Debt 29,166,000
Non-Cash Working Capital (NCWC) 1,367,686,000
Change in NCWC 87,709,000
EBIT 675,998,000
Tax Provision 130,918,000
Depreciation and Amortization 420,895,000
Capital Expenditure -386,719,000
Unlevered Free Cash Flow 655,805,356
Current Assets 3,588,389,000
Current Cash 184,620,000
Current Liabilities 2,138,556,000
Current Debt 14,764,000
Non-Cash Working Capital (NCWC) 1,279,977,000
Change in NCWC -198,031,000
EBIT 620,372,000
Tax Provision 119,387,000
Depreciation and Amortization 301,960,000
Capital Expenditure -260,052,000
Unlevered Free Cash Flow 334,617,652
Current Assets 3,830,986,000
Current Cash 164,798,000
Current Liabilities 2,263,049,000
Current Debt 74,869,000
Non-Cash Working Capital (NCWC) 1,478,008,000
Change in NCWC -28,928,000
EBIT 582,170,000
Tax Provision 165,472,000
Depreciation and Amortization 280,198,000
Capital Expenditure -261,762,000
Unlevered Free Cash Flow 403,348,413
Current Assets 3,326,104,000
Current Cash 78,687,000
Current Liabilities 1,806,127,000
Current Debt 65,646,000
Non-Cash Working Capital (NCWC) 1,506,936,000
Change in NCWC 266,161,000
EBIT 578,396,000
Tax Provision 161,659,000
Depreciation and Amortization 246,513,000
Capital Expenditure -293,595,000
Unlevered Free Cash Flow 593,171,164
Current Assets 2,869,907,000
Current Cash 138,285,000
Current Liabilities 1,492,067,000
Current Debt 1,220,000
Non-Cash Working Capital (NCWC) 1,240,775,000
Change in NCWC 261,878,000
EBIT 431,735,000
Tax Provision 35,532,000
Depreciation and Amortization 216,013,000
Capital Expenditure -244,651,000
Unlevered Free Cash Flow 621,610,747
Current Assets 2,288,745,000
Current Cash 112,183,000
Current Liabilities 1,205,228,000
Current Debt 7,563,000
Non-Cash Working Capital (NCWC) 978,897,000
Change in NCWC 26,826,000
EBIT 327,798,000
Tax Provision 107,246,000
Depreciation and Amortization 201,925,000
Capital Expenditure -212,555,000
Unlevered Free Cash Flow 229,737,828
Current Assets 2,277,519,000
Current Cash 128,771,000
Current Liabilities 1,203,744,000
Current Debt 7,067,000
Non-Cash Working Capital (NCWC) 952,071,000
Change in NCWC -282,941,000
EBIT 295,488,000
Tax Provision 97,472,000
Depreciation and Amortization 197,693,000
Capital Expenditure -210,179,000
Unlevered Free Cash Flow -125,889,831
Current Assets 2,553,976,000
Current Cash 190,515,000
Current Liabilities 1,137,325,000
Current Debt 8,876,000
Non-Cash Working Capital (NCWC) 1,235,012,000
Change in NCWC 451,757,000
EBIT 475,243,000
Tax Provision 157,408,000
Depreciation and Amortization 194,017,000
Capital Expenditure -301,728,000
Unlevered Free Cash Flow 661,173,670
Current Assets 2,313,318,000
Current Cash 488,777,000
Current Liabilities 1,043,520,000
Current Debt 2,234,000
Non-Cash Working Capital (NCWC) 783,255,000
Change in NCWC -142,601,000
EBIT 639,672,000
Tax Provision 217,940,000
Depreciation and Amortization 161,625,000
Capital Expenditure -263,558,000
Unlevered Free Cash Flow 177,053,786
Current Assets 2,201,727,000
Current Cash 394,701,000
Current Liabilities 881,179,000
Current Debt 9,000
Non-Cash Working Capital (NCWC) 925,856,000
Change in NCWC 257,071,000
EBIT 467,206,000
Tax Provision 158,859,000
Depreciation and Amortization 157,994,000
Capital Expenditure -210,986,000
Unlevered Free Cash Flow 511,528,062

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