PRIM · Primoris Services Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $7.57B | $6.37B | $5.72B | $4.42B | $3.50B | $3.49B |
| Cost of Revenue | $6.76B | $5.66B | $5.13B | $3.96B | $3.08B | $3.12B |
| Gross Profit | $813.10M | $703.25M | $587.49M | $456.88M | $416.66M | $370.21M |
| R&D | - | - | - | - | - | - |
| SG&A | $399.20M | $383.35M | $328.73M | $281.58M | $230.11M | $202.84M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $91.90M | $95.52M | $107.04M | $99.16M | $105.56M | $82.50M |
| Operating Income | $411.50M | $317.45M | $253.07M | $195.34M | $170.15M | $163.95M |
| Interest Expense | - | - | - | - | - | $20.30M |
| Income Tax | $109.10M | $74.03M | $51.52M | $26.27M | $36.12M | $40.66M |
| Net Income | $274.90M | $180.89M | $126.14M | $133.02M | $115.61M | $104.97M |
| EPS - Basic | $5.09 | $3.37 | $2.37 | $2.50 | $2.19 | $2.17 |
| EPS - Diluted | $5.02 | $3.31 | $2.33 | $2.47 | $2.17 | $2.16 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $535.50M | $455.82M | $217.78M | $248.69M | $200.51M | $326.74M |
| Accounts Receivable | $723.40M | $834.39M | $112.20M | $663.12M | $471.66M | $432.45M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $744.30M | $624.25M | $628.96M | $534.96M | $273.46M | $245.91M |
| Current Assets | $2.33B | $2.16B | $1.89B | $1.70B | $1.18B | $1.12B |
| Total Assets | $4.41B | $4.20B | $3.83B | $3.54B | $2.54B | $1.97B |
| Current Liabilities | $1.85B | $1.67B | $1.34B | $1.14B | $759.12M | $764.41M |
| Long-term Debt | $409.00M | $660.19M | $885.37M | $1.07B | $594.23M | $268.83M |
| Total Liabilities | $2.73B | $2.79B | $2.59B | $2.44B | $1.55B | $1.25B |
| Stockholders' Equity | $1.68B | $1.41B | $1.24B | $629.53M | $990.05M | $714.79M |
| Retained Earnings | $1.39B | $1.13B | $961.03M | $847.68M | $727.43M | $624.69M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $470.40M | $508.31M | $198.55M | $83.35M | $79.75M | $311.93M |
| Investing Cash Flow | ($93.90M) | ($27.23M) | ($30.01M) | ($481.94M) | ($691.27M) | ($42.51M) |
| Financing Cash Flow | ($296.30M) | ($244.36M) | ($205.28M) | $452.04M | $485.73M | ($62.82M) |
| CapEx | $129.90M | $126.56M | $103.00M | $94.69M | $133.84M | $64.36M |
| Free Cash Flow | $340.50M | $381.76M | $95.55M | ($11.34M) | ($54.09M) | $247.57M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 10.7% | 11.0% | 10.3% | 10.3% | 11.9% | 10.6% |
| Operating margin | 5.4% | 5.0% | 4.4% | 4.4% | 4.9% | 4.7% |
| EBITDA margin | 6.6% | 6.5% | 6.3% | 6.7% | 7.9% | 7.1% |
| Net margin | 3.6% | 2.8% | 2.2% | 3.0% | 3.3% | 3.0% |
| Free cash flow margin | 4.5% | 6.0% | 1.7% | -0.3% | -1.5% | 7.1% |
| FCF / Net income | 1.24 | 2.11 | 0.76 | -0.09 | -0.47 | 2.36 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.3% | 6.0% | 5.8% | 6.4% | 6.6% | 5.8% |
| Effective tax rate | 28.4% | 29.0% | 29.0% | 16.5% | 23.8% | 27.9% |
| Return on assets | 6.2% | 4.3% | 3.3% | 3.8% | 4.5% | 5.3% |
| Return on equity | 16.4% | 12.8% | 10.2% | 21.1% | 11.7% | 14.7% |
| Return on invested capital | 14.1% | 10.9% | 8.5% | 9.6% | 8.2% | 12.0% |
| Liquidity | ||||||
| Current ratio | 1.26 | 1.29 | 1.41 | 1.50 | 1.56 | 1.46 |
| Quick ratio | 1.26 | 1.29 | 1.41 | 1.50 | 1.56 | 1.46 |
| Cash ratio | 0.29 | 0.27 | 0.16 | 0.22 | 0.26 | 0.43 |
| Leverage | ||||||
| Debt / Equity | 0.24 | 0.47 | 0.72 | 1.69 | 0.60 | 0.38 |
| Debt / Assets | 0.09 | 0.16 | 0.23 | 0.30 | 0.23 | 0.14 |
| Debt / EBITDA | 0.81 | 1.60 | 2.46 | 3.62 | 2.16 | 1.09 |
| Interest coverage | - | - | - | - | - | 8.1x |
| Equity multiplier | 2.62 | 2.98 | 3.10 | 5.63 | 2.57 | 2.76 |
| Liabilities / Assets | 0.62 | 0.66 | 0.68 | 0.69 | 0.61 | 0.64 |
| Efficiency | ||||||
| Asset turnover | 1.72 | 1.52 | 1.49 | 1.25 | 1.38 | 1.77 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 35d | 48d | 7d | 55d | 49d | 45d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 40d | 40d | 45d | 49d | 32d | 29d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 24.7x | 23.1x | 14.3x | 8.9x | 11.1x | 12.8x |
| P / B | 4.0x | 3.0x | 1.5x | 1.9x | 1.3x | 1.9x |
| P / S | 0.9x | 0.7x | 0.3x | 0.3x | 0.4x | 0.4x |
| EV / EBITDA | 13.3x | 10.6x | 6.9x | 6.8x | 6.1x | 5.2x |
| Growth | ||||||
| Revenue growth (YoY) | 19.0% | 11.4% | 29.3% | 26.4% | 0.2% | 12.4% |
| Revenue CAGR (3y) | 19.7% | 22.1% | 17.9% | 12.5% | 20.5% | - |
| Revenue CAGR (5y) | 16.8% | 15.4% | 23.4% | - | - | - |
| Gross profit growth (YoY) | 15.6% | 19.7% | 28.6% | 9.7% | 12.5% | 11.9% |
| Operating income growth (YoY) | 29.6% | 25.4% | 29.6% | 14.8% | 3.8% | 16.4% |
| Net income growth (YoY) | 52.0% | 43.4% | -5.2% | 15.1% | 10.1% | 27.5% |
| EPS growth (YoY) | 51.7% | 42.1% | -5.7% | 13.8% | 0.5% | 34.2% |
| EPS CAGR (3y) | 26.7% | 15.1% | 2.6% | 15.3% | 13.1% | 15.6% |
| EPS CAGR (5y) | 18.4% | 15.5% | 9.2% | 12.0% | 33.6% | 24.9% |
| FCF growth (YoY) | -10.8% | 299.5% | - | 79.0% | - | 954.1% |
| FCF CAGR (5y) | 6.6% | 74.7% | 41.9% | - | - | - |
| Book value growth (YoY) | 19.3% | 14.0% | 96.4% | -36.4% | 38.5% | 13.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.43B totalUAnd DSegment$2.13B · 87.7%
Energy Segment$299.40M · 12.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.61
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Water, Sewer, Pipeline, Comm & Power Line Construction
Comparing Primoris Services Corp against the 5 most active filers in the same SIC group.
Dividends
$0.32/share trailing 12 months · +14.3% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.0800 |
| Dec 31, 2025 | $0.0800 |
| Sep 30, 2025 | $0.0800 |
| Jun 30, 2025 | $0.0800 |
| Mar 31, 2025 | $0.0800 |
| Dec 31, 2024 | $0.0800 |
| Sep 27, 2024 | $0.0600 |
| Jun 28, 2024 | $0.0600 |
| Mar 27, 2024 | $0.0600 |
| Dec 28, 2023 | $0.0600 |
| Sep 28, 2023 | $0.0600 |
| Jun 29, 2023 | $0.0600 |
| Mar 30, 2023 | $0.0600 |
| Dec 29, 2022 | $0.0600 |
| Sep 29, 2022 | $0.0600 |
| Jun 29, 2022 | $0.0600 |
| Mar 30, 2022 | $0.0600 |
| Dec 30, 2021 | $0.0600 |
| Sep 29, 2021 | $0.0600 |
| Jun 29, 2021 | $0.0600 |
| Mar 30, 2021 | $0.0600 |
| Dec 30, 2020 | $0.0600 |
| Sep 29, 2020 | $0.0600 |
| Jun 29, 2020 | $0.0600 |