Quanta Services, Inc. — Earnings Quality Grade F
PWR · Industrials
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 88 days, change +8 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 20.3%, CFFO 7.1%. Cash follows revenue
Expense Quality
Inventory growth 42.4% exceeds COGS 20.1%
CapEx growth 0.8% vs revenue 20.3%. Normal
SG&A/Gross Profit = 51.2%. Normal
Gross margin 15.0%, change +0.2pp. Stable
Cash Flow Quality
CFFO/NI = 2.17. Profits backed by cash
FCF $1.6B, FCF/NI = 1.58
Accruals ratio = -4.8%. Low accruals
Cash $0.4B covers only 7% of debt $6.4B
Balance Sheet Health
Goodwill+Intangibles $10.2B = 114% of equity. Over 50%
Debt/EBITDA = 2.5x. Healthy
Other assets grew 44.0% vs revenue 20.3%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles surged 42% YoY
Manipulation Score
M-Score = -2.42 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09