| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 57 | 29.4x | 17.8x | Around median | |
Growth | 65 | 5.1% | 7.1% | Around median | |
Quality | 33 | 5.9% | 4.5% | Bottom tier | |
Safety | 51 | 3.5x | 2.6x | Around median | |
Capital Return | 27 | 0.43% | 2.12% | Bottom tier | |
Momentum | 9 | -30.2% | 2.9% | Bottom tier | |
Sentiment | 84 | 8 | 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.
Primoris Services Corporation is a specialty contracting company that delivers infrastructure solutions through two main segments: Utilities and Energy. The Utilities segment includes electric transmission, substations, gas networks, and communications, while the Energy segment includes solar power, battery storage, gas-fired power generation, pipeline services, and industrial work. Revenue is generated from project execution and service programs, including long-term customer contracts and design-build, engineering, procurement, and construction work.
In Q2 fiscal 2026, Primoris reported revenue of $1.7 billion, gross profit of $82.4 million, a net loss of $24.2 million, and a loss per share of $0.45. These figures represent a gross margin of approximately 4.8% and a negative net margin of approximately 1.4%, compared with revenue of $1.6 billion, gross profit of $134.7 million, and net income of $17.4 million in Q1 fiscal 2026. Revenue therefore increased by approximately 6% sequentially, but gross profit declined by approximately 39%, and the company moved to a net loss.
The Q1 fiscal 2026 details showed a clear divergence between the two segments; Utilities revenue increased 12.3% by approximately $70 million, and its gross profit reached $62 million at a margin of 9.8%, supported by electric transmission and gas networks. In contrast, Energy revenue declined 13.8% by $152.9 million, while its gross profit fell to $72.7 million and its margin declined to 7.6% because of delays in renewable energy projects and cost overruns on a limited number of solar projects. At the company level, backlog stood at $11.6 billion at the end of Q1 fiscal 2026, compared with $11.9 billion at the end of fiscal 2025.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average target of $130.88 within a wide range of $102 to $172. The average target is approximately 36% below the 52-week high of $205.5, and even the highest target remains approximately 16% below that peak, reflecting a more conservative reassessment in light of the Q2 fiscal 2026 loss and pressure from solar projects, despite strong contract pipelines in Utilities, gas, and renewable energy.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
EDGAR filings showed revenue of $1.7 billion, gross profit of $82.4 million, and a net loss of $24.2 million in Q2 fiscal 2026. Loss per share was $0.45, while the calculated gross margin fell to approximately 4.8%. Management had explained on May 6, 2026, that six solar projects faced cost overruns and margin pressure because of labor, redesign, work sequencing, and weather, and that their impact would remain significant during Q2 fiscal 2026.
Total backlog was $11.6 billion at the end of Q1 fiscal 2026, compared with $11.9 billion at the end of fiscal 2025. Energy backlog declined by $780 million because of the timing of gas generation, pipeline, and solar contracts, while Utilities backlog increased by $476 million year over year. Management expects the Energy segment's book-to-bill ratio to exceed one time during fiscal 2026, with most bookings concentrated in the second half.
Primoris completed the acquisition of Paynecrest on May 1, 2026, adding a union electrical contractor that provides design, construction, and maintenance services. Approximately 40% of Paynecrest's revenue comes from data centers, and more than another 40% comes from industrial, energy, and renewable energy markets, with the company operating in more than 25 states. The acquisition allows Primoris to expand from supporting data center infrastructure to electrical work inside facilities, but it increased the term loan by approximately $400 million and raised the fiscal 2026 interest expense forecast to $35–38 million.
Management stated on May 6, 2026, that it had approximately $800 million of near-term verbal awards in gas-fired power generation, in addition to $3 billion of opportunities it was pursuing during fiscal 2026. Identified opportunities beyond fiscal 2026 reached approximately $7.1 billion, compared with a previous pipeline of $6 billion. In renewable energy, the pipeline exceeded $15 billion, and the BESS pipeline increased by more than four times year over year, but contract and start timing was delayed by cost and design reviews and clarity regarding 48E tax credits.
Management expected on May 6, 2026, that Energy segment margins would be in the high-single-digit range during Q2 fiscal 2026, then improve as the troubled solar projects were completed. It set a fiscal 2026 gross margin target for the Energy segment in the high 9% to low 10% range, compared with 7.6% in Q1. For the Utilities segment, it targeted an annual range of 10% to 12% after reporting 9.8% in Q1 fiscal 2026, but Q2 results showed that the company's overall gross margin remained under pressure at approximately 4.8%.
The analyst consensus is Buy, with an average price target of $130.88, a low target of $102, and a high target of $172. The average target is approximately 36% below the 52-week high of $205.5, while the stock's full range spans $65 to $205.5. The wide target range and 52-week range reflect substantial differences in estimates of the impact of the solar project recovery and the strength of opportunities exceeding $15 billion in renewable energy and $7.1 billion in gas generation beyond fiscal 2026.
