| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 44 | 61.1x | 17.8x | Around median | |
Growth | 89 | 40.3% | 7.1% | Top tier | |
Quality | 20 | 5.3% | 4.5% | Bottom tier | |
Safety | 33 | 4.1x | 2.6x | Bottom tier | |
Capital Return | 24 | — | 2.12% | Bottom tier | |
Momentum | 21 | 9.8% | 2.9% | Bottom tier | |
Sentiment | 72 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Centuri Holdings provides energy infrastructure services in North America, including gas and electric transmission and distribution networks, substations, and data center-related infrastructure. It generates revenue from Master Service Agreements MSA and bid projects; in fiscal year 2025, MSA accounted for approximately 78% of the business versus 22% for bid work, while activity was split 53% gas and 47% electric. The company relies on relationships with regulated utilities and reported an MSA renewal rate of 100%.
In quarter 2 of fiscal year 2026, revenue reached $961.99 million, representing year-over-year growth of 32.86% and a positive surprise of $125.97 million versus expectations, while earnings per share reached $0.24, exceeding expectations by $0.04. The published data for this quarter does not include a breakdown of gross profit, margins, or segment mix, so the latest complete operating breakdown remains quarter 1 of fiscal year 2026.
In quarter 1 of fiscal year 2026, Centuri reported revenue of $723.2 million and gross profit of $35.8 million, equivalent to a gross margin of approximately 5%, but it incurred a net loss of $9.5 million and a loss per share of $0.09. U.S. Gas net revenue was approximately $284 million, Canadian operations revenue was $60 million, core Union Electric revenue was approximately $199 million, and core Non-union Electric revenue was approximately $151 million. On a trailing twelve-month basis ending in 2026, revenue was $3.2 billion, gross profit was $262 million, and net income was $30.8 million.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average price target of $35 and a narrow range between $33 and $36. The average is below the 52-week range high of $42.985 and above its low of $19.04. No displayed price-to-earnings ratio is available, while trailing twelve-month earnings per share ending in 2026 were only approximately $0.31, so the valuation case depends heavily on achieving earnings growth, margin improvement, and cash flow targets through fiscal year 2029.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Growth came from gas and electric work, with expansion in MSA and bid work. In quarter 1 of fiscal year 2026, U.S. Gas revenue rose 44% to $284 million, Canadian operations increased 51% to $60 million, core Union Electric revenue grew 14% to $199 million, and core Non-union Electric revenue grew 25% to $151 million. In quarter 2 of fiscal year 2026, total revenue accelerated to $961.99 million, representing a year-over-year increase of 32.86%.
Since the beginning of fiscal year 2025, Centuri has secured $170 million of data center-related work. In May 2026, the company was evaluating and bidding on approximately $1.5 billion of additional work, with nearly $200 million under negotiation among the pending bids in April 2026. Its capabilities relevant to this market include substations, interconnections, and electrical infrastructure, and management describes this work as having attractive margin characteristics.
The company reported a net loss of $9.5 million and a loss per share of $0.09 in quarter 1 of fiscal year 2026. However, the loss attributable to common shares improved from $18 million in the comparable period to $9 million, and adjusted EBITDA rose 35% to $33 million. Gross profit also increased 76% year over year to approximately $36 million, and core gross profit rose 96% to $28 million.
Management expects revenue between $3.24 billion and $3.54 billion in fiscal year 2026 and core revenue between $3.15 billion and $3.45 billion. It expects adjusted EBITDA between $280 million and $310 million and adjusted net income between $55 million and $75 million. It is also targeting free cash flow exceeding $60 million, net capital expenditures between $75 million and $90 million, and net debt to adjusted EBITDA of approximately 2 times by the end of fiscal year 2026.
The company is targeting an improvement between 70 and 170 basis points in core gross margin through fiscal year 2029. The plan depends on increasing the mix of higher-margin bid work from 22% in fiscal year 2025 to approximately 35%, reducing seasonal effects, and improving pricing, project selection, and fleet efficiency. In quarter 1 of fiscal year 2026, core gross margin increased to 4.1% from 2.7%, while trailing twelve-month core margin reached 8%, an increase of 100 basis points.
Free cash flow was negative $54 million in quarter 1 of fiscal year 2026, requiring significant improvement during the remainder of the year to achieve the full-year forecast exceeding $60 million. U.S. Gas recorded a gross loss of $6 million, while core Non-union Electric margin declined to 6.3% from 8.7%. In addition, the fiscal year 2029 plan requires converting a $13 billion opportunity pipeline into profitable work while increasing the share of bid work, improving margins, and reducing leverage.
