NYSE : PRIM
Primoris Services Corporation — Financial statements
Industrials · Engineering & Construction · United States
Last price 72.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.92B
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Financial statements
Primoris Services Corporation (PRIM) reported revenue of 7.28B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 7.28B | 7.57B | 6.37B | 5.72B | 4.42B | 3.50B |
| Cost of Revenue | 6.66B | 6.76B | 5.66B | 5.13B | 3.96B | 3.08B |
| Gross Profit | 627.80M | 813.10M | 703.20M | 587.50M | 456.88M | 416.66M |
| Selling, General & Admin | 407.10M | 399.20M | 383.30M | 328.70M | 281.58M | 230.11M |
| Operating Expenses | 408.50M | 399.20M | 383.30M | 328.70M | 281.58M | 230.11M |
| Operating Income | 219.30M | 413.90M | 319.90M | 258.80M | 175.31M | 186.55M |
| Interest Expense | -19.50M | -21.20M | -60.10M | -76.30M | -39.21M | -18.50M |
| Currency Exchange Gain (Loss) | 1.10M | -100.00K | 2.70M | 1.10M | 1.09M | -95.00K |
| Other Non Operating Income (Expenses) | -9.90M | -8.60M | -7.60M | -6.00M | -2.28M | -1.50M |
| EBT Excluding Unusual Items | 191.00M | 384.00M | 254.90M | 177.60M | 134.90M | 166.46M |
| Merger & Restructuring Charges | -4.70M | -15.70M | -14.60M | |||
| Gain (Loss) on Sale of Assets | 40.08M | |||||
| Pretax Income | 186.30M | 384.00M | 254.90M | 177.60M | 159.29M | 151.86M |
| Income Tax Expense | 46.70M | 109.10M | 74.00M | 51.50M | 26.27M | 36.12M |
| Earnings From Continuing Operations | 139.60M | 274.90M | 180.90M | 126.10M | 133.02M | 115.74M |
| Net Income | 139.60M | 274.90M | 180.90M | 126.10M | 133.02M | 115.74M |
| Net Income to Common | 139.60M | 274.90M | 180.90M | 126.10M | 133.02M | 115.74M |
| Shares Outstanding (Basic) | 54.10M | 54.00M | 53.60M | 53.30M | 53.20M | 52.67M |
| Shares Outstanding (Diluted) | 54.45M | 54.80M | 54.60M | 54.20M | 53.76M | 53.16M |
| EPS (Basic) | 2.58 | 5.09 | 3.38 | 2.37 | 2.50 | 2.20 |
| EPS (Diluted) | 2.57 | 5.02 | 3.31 | 2.33 | 2.47 | 2.17 |
| Free Cash Flow | 88.00M | 340.50M | 381.80M | 95.50M | -11.34M | -54.09M |
| Free Cash Flow Per Share | 1.62 | 6.21 | 6.99 | 1.76 | -0.21 | -1.02 |
| Dividend Per Share | 0.32 | 0.32 | 0.26 | 0.24 | 0.24 | 0.24 |
| Gross Margin | 8.62% | 10.73% | 11.04% | 10.28% | 10.33% | 11.91% |
| Operating Margin | 3.01% | 5.46% | 5.03% | 4.53% | 3.97% | 5.33% |
| Profit Margin | 1.92% | 3.63% | 2.84% | 2.21% | 3.01% | 3.31% |
| Free Cash Flow Margin | 1.21% | 4.50% | 6.00% | 1.67% | -0.26% | -1.55% |
| EBITDA | 321.70M | 505.80M | 415.40M | 365.80M | 274.46M | 292.11M |
| EBITDA Margin | 4.42% | 6.68% | 6.52% | 6.40% | 6.21% | 8.35% |
| D&A For EBITDA | 102.40M | 91.90M | 95.50M | 107.00M | 99.16M | 105.56M |
| EBIT | 219.30M | 413.90M | 319.90M | 258.80M | 175.31M | 186.55M |
| EBIT Margin | 3.01% | 5.46% | 5.03% | 4.53% | 3.97% | 5.33% |
| Effective Tax Rate | 25.07% | 28.41% | 29.03% | 29.00% | 16.49% | 23.78% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 218.20M | 535.50M | 455.80M | 217.78M | 248.69M | 200.51M |
| Trading Asset Securities | 100.00K | 1.24M | ||||
| Cash & Short-Term Investments | 218.20M | 535.50M | 455.90M | 217.78M | 249.93M | 200.51M |
| Accounts Receivable | 1.71B | 1.60B | 1.56B | 1.49B | 1.26B | 880.41M |
| Receivables | 1.71B | 1.60B | 1.56B | 1.49B | 1.26B | 880.41M |
| Prepaid Expenses | 162.50M | 132.00M | 89.90M | 130.08M | 164.82M | 81.13M |
| Restricted Cash | 5.70M | 5.80M | 5.60M | 5.76M | 10.30M | 5.13M |
| Other Current Assets | 62.00M | 56.00M | 49.00M | 39.65M | 21.56M | 14.90M |
| Total Current Assets | 2.16B | 2.33B | 2.16B | 1.89B | 1.70B | 1.18B |
| Property, Plant & Equipment | 1.04B | 1.02B | 949.20M | 836.44M | 696.66M | 591.89M |
| Long-Term Investments | 1.63M | |||||
| Goodwill | 1.05B | 856.90M | 856.90M | 857.65M | 871.81M | 581.66M |
| Other Intangible Assets | 375.20M | 190.20M | 207.90M | 227.56M | 249.38M | 171.32M |
| Long-Term Deferred Tax Assets | 1.31M | |||||
| Other Long-Term Assets | 13.30M | 7.00M | 22.40M | 18.91M | 21.79M | 15.06M |
| Total Assets | 4.64B | 4.41B | 4.20B | 3.83B | 3.54B | 2.54B |
| Accounts Payable | 691.70M | 744.30M | 624.30M | 628.96M | 534.96M | 273.46M |
| Accrued Expenses | 217.90M | 200.90M | 174.60M | 152.88M | 157.06M | 105.27M |
| Current Portion of Long-Term Debt | 45.00M | 60.90M | 74.60M | 72.90M | 78.14M | 67.23M |
| Current Portion of Leases | 167.60M | 155.40M | 122.00M | 96.41M | 72.56M | 61.59M |
| Current Income Taxes Payable | 21.60M | 49.10M | 53.50M | 14.20M | 16.21M | 7.97M |
| Current Unearned Revenue | 667.00M | 629.20M | 614.30M | 363.16M | 269.85M | 234.35M |
| Other Current Liabilities | 20.40M | 8.70M | 7.40M | 6.52M | 9.28M | 9.25M |
| Total Current Liabilities | 1.83B | 1.85B | 1.67B | 1.34B | 1.14B | 759.12M |
| Long-Term Debt | 752.00M | 409.00M | 660.20M | 885.37M | 1.07B | 598.58M |
| Long-Term Leases | 314.50M | 325.60M | 333.40M | 263.45M | 130.79M | 98.06M |
| Long-Term Deferred Tax Liabilities | 54.50M | 71.40M | 64.00M | 59.56M | 57.10M | 38.51M |
| Other Long-Term Liabilities | 80.30M | 72.30M | 58.10M | 47.91M | 43.91M | 59.01M |
| Total Liabilities | 3.03B | 2.73B | 2.79B | 2.59B | 2.44B | 1.55B |
| Common Stock | 6.00K | 6.00K | 6.00K | |||
| Additional Paid-In Capital | 239.10M | 296.90M | 285.80M | 275.85M | 263.77M | 261.92M |
| Retained Earnings | 1.37B | 1.39B | 1.13B | 961.03M | 847.68M | 727.43M |
| Comprehensive Income & Other | -3.00M | -1.50M | -4.20M | -788.00K | -2.62M | 698.00K |
| Total Common Equity | 1.61B | 1.68B | 1.41B | 1.24B | 1.11B | 990.05M |
| Shareholders' Equity | 1.61B | 1.68B | 1.41B | 1.24B | 1.11B | 990.05M |
| Total Liabilities & Equity | 4.64B | 4.41B | 4.20B | 3.83B | 3.54B | 2.54B |
| Total Debt | 1.28B | 950.90M | 1.19B | 1.32B | 1.35B | 825.45M |
| Net Cash (Debt) | -1.06B | -415.40M | -734.30M | -1.10B | -1.10B | -624.94M |
| Net Cash Per Share | -19.48 | -7.58 | -13.45 | -20.30 | -20.40 | -11.76 |
| Filing Date Shares Outstanding | 53.83M | 54.06M | 53.75M | 53.44M | 53.14M | 53.22M |
| Total Common Shares Outstanding | 53.83M | 54.05M | 53.74M | 53.37M | 53.12M | 53.19M |
| Working Capital | 332.00M | 485.10M | 488.80M | 550.20M | 566.32M | 422.97M |
| Book Value Per Share | 29.84 | 31.10 | 26.23 | 23.16 | 20.87 | 18.61 |
| Tangible Book Value | 179.60M | 633.90M | 344.70M | 150.88M | -12.35M | 237.07M |
| Tangible Book Value Per Share | 3.34 | 11.73 | 6.41 | 2.83 | -0.23 | 4.46 |
| Land | 267.60M | 193.90M | 168.79M | 154.60M | 144.72M | |
| Machinery | 641.70M | 625.90M | 714.86M | 764.63M | 695.89M | |
| Construction In Progress | 15.00M | 74.50M | 38.67M | 26.14M | 22.37M | |
| Leasehold Improvements | 22.70M | 19.60M | 22.86M | 21.35M | 19.55M | |
| Order Backlog | 11.95B | 11.87B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 139.60M | 274.90M | 180.90M | 126.10M | 133.02M | 115.74M |
| Depreciation & Amortization | 102.40M | 91.90M | 95.50M | 107.00M | 99.16M | 105.56M |
| Loss (Gain) From Sale of Assets | -20.80M | -21.70M | -44.80M | -48.10M | -71.97M | -15.92M |
| Loss (Gain) From Sale of Investments | 1.60M | -400.00K | -5.58M | -4.86M | ||
| Stock-Based Compensation | 21.10M | 20.60M | 15.10M | 11.80M | 7.44M | 10.46M |
| Other Operating Activities | 2.10M | 2.20M | 4.10M | 2.20M | 277.00K | 1.38M |
| Change in Accounts Receivable | 285.00M | -50.90M | -104.90M | -246.70M | -217.53M | -56.46M |
| Change in Accounts Payable | -185.70M | 121.00M | 11.40M | 93.40M | 191.53M | 15.70M |
| Change in Unearned Revenue | -64.30M | 16.20M | 251.20M | 84.70M | -7.87M | -29.11M |
| Change in Other Net Operating Assets | -92.20M | 8.90M | 93.20M | 39.10M | -59.82M | -88.31M |
| Operating Cash Flow | 194.50M | 470.40M | 508.30M | 198.50M | 83.35M | 79.75M |
| Capital Expenditures | -106.50M | -129.90M | -126.50M | -103.00M | -94.69M | -133.84M |
| Sale of Property, Plant & Equipment | 30.40M | 32.50M | 99.30M | 63.70M | 41.30M | 49.55M |
| Cash Acquisitions | -401.40M | 9.30M | -478.44M | -606.97M | ||
| Other Investing Activities | 11.50M | 3.50M | 49.89M | |||
| Investing Cash Flow | -466.00M | -93.90M | -27.20M | -30.00M | -481.94M | -691.27M |
| Long-Term Debt Issued | 450.20M | 658.09M | 561.72M | |||
| Total Debt Issued | 571.80M | 450.20M | 658.09M | 561.72M | ||
| Long-Term Debt Repaid | -329.30M | -224.50M | -637.20M | -175.33M | -213.85M | |
| Total Debt Repaid | -327.60M | -329.30M | -224.50M | -637.20M | -175.33M | -213.85M |
| Net Debt Issued (Repaid) | 244.20M | -329.30M | -224.50M | -187.00M | 482.76M | 347.87M |
| Issuance of Common Stock | 178.71M | |||||
| Repurchase of Common Stock | -71.40M | -11.80M | -7.50M | -1.70M | -7.31M | -14.72M |
| Common Dividends Paid | -17.40M | -17.30M | -12.90M | -12.80M | -12.78M | -12.56M |
| Other Financing Activities | -55.40M | 62.10M | 500.00K | -3.80M | -10.63M | -13.56M |
| Financing Cash Flow | 100.00M | -296.30M | -244.40M | -205.30M | 452.04M | 485.73M |
| Foreign Exchange Rate Adjustments | -800.00K | -300.00K | 1.20M | 1.30M | -102.00K | 456.00K |
| Net Cash Flow | -172.30M | 79.90M | 237.90M | -35.50M | 53.35M | -125.33M |
| Free Cash Flow | 88.00M | 340.50M | 381.80M | 95.50M | -11.34M | -54.09M |
| Free Cash Flow Margin | 1.21% | 4.50% | 6.00% | 1.67% | -0.26% | -1.55% |
| Free Cash Flow Per Share | 1.62 | 6.21 | 6.99 | 1.76 | -0.21 | -1.02 |
| Levered Free Cash Flow | 80.16M | 291.64M | 418.71M | 95.22M | -18.85M | -119.20M |
| Unlevered Free Cash Flow | 92.34M | 304.89M | 456.27M | 142.91M | 5.66M | -107.64M |
| Cash Interest Paid | 22.10M | 22.10M | 61.30M | 82.30M | 37.18M | 22.22M |
| Cash Income Tax Paid | 86.90M | 86.90M | 65.30M | 5.10M | 3.57M | 39.26M |
| Change in Working Capital | -49.90M | 102.50M | 255.90M | -100.00K | -79.00M | -132.61M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.04B | 6.71B | 4.10B | 1.77B | 1.17B | 1.29B |
| Enterprise Value | 5.10B | 7.24B | 5.10B | 3.02B | 2.42B | 1.95B |
| Last Close Price | 72.77 | 123.83 | 75.93 | 32.85 | 21.53 | 23.26 |
| PE Ratio | 29.23 | 24.40 | 22.68 | 14.05 | 8.76 | 11.15 |
| Forward PE | 18.95 | 22.63 | 20.30 | 10.93 | 7.15 | 9.37 |
| PS Ratio | 0.54 | 0.89 | 0.65 | 0.31 | 0.26 | 0.37 |
| PB Ratio | 2.44 | 3.99 | 2.91 | 1.43 | 1.05 | 1.30 |
| P/TBV Ratio | 21.81 | 10.58 | 11.90 | 11.74 | 5.44 | |
| P/FCF Ratio | 44.52 | 19.70 | 10.75 | 18.56 | ||
| P/OCF Ratio | 20.14 | 14.26 | 8.07 | 8.93 | 13.98 | 16.18 |
| PEG Ratio | 2.00 | 1.20 | 1.62 | 0.86 | 0.55 | 0.73 |
| EV/Sales Ratio | 0.68 | 0.96 | 0.80 | 0.53 | 0.55 | 0.56 |
| EV/EBITDA Ratio | 15.47 | 14.31 | 12.27 | 8.26 | 8.81 | 6.68 |
| EV/EBIT Ratio | 22.70 | 17.49 | 15.93 | 11.68 | 13.79 | 10.46 |
| EV/FCF Ratio | 56.57 | 21.26 | 13.35 | 31.64 | ||
| Debt / Equity Ratio | 0.80 | 0.57 | 0.84 | 1.07 | 1.22 | 0.83 |
| Debt / EBITDA Ratio | 2.48 | 1.39 | 2.11 | 2.76 | 3.83 | 2.21 |
| Debt / FCF Ratio | 14.54 | 2.79 | 3.12 | 13.80 | ||
| Net Debt / Equity Ratio | 0.66 | 0.25 | 0.52 | 0.89 | 0.99 | 0.63 |
| Net Debt / EBITDA Ratio | 3.30 | 0.82 | 1.77 | 3.01 | 4.00 | 2.14 |
| Net Debt / FCF Ratio | 12.06 | 1.22 | 1.92 | 11.52 | -96.69 | -11.55 |
| Asset Turnover | 1.59 | 1.76 | 1.59 | 1.55 | 1.45 | 1.55 |
| Quick Ratio | 1.06 | 1.16 | 1.21 | 1.28 | 1.32 | 1.42 |
| Current Ratio | 1.18 | 1.26 | 1.29 | 1.41 | 1.50 | 1.56 |
| Return on Equity (ROE) | 8.89% | 17.79% | 13.68% | 10.76% | 12.68% | 13.58% |
| Return on Assets (ROA) | 2.99% | 6.01% | 4.98% | 4.39% | 3.60% | 5.17% |
| Return on Invested Capital (ROIC) | 6.68% | 13.98% | 10.13% | 8.09% | 7.66% | 11.20% |
| Return on Capital Employed (ROCE) | 7.80% | 16.20% | 12.70% | 10.40% | 7.30% | 10.50% |
| Earnings Yield | 3.42% | 4.10% | 4.41% | 7.12% | 11.42% | 8.97% |
| FCF Yield | 2.25% | 5.08% | 9.30% | 5.39% | -0.97% | -4.19% |
| Dividend Yield | 0.43% | 0.26% | 0.34% | 0.72% | 1.09% | 0.99% |
| Payout Ratio | 12.46% | 6.29% | 7.13% | 10.15% | 9.61% | 10.86% |
| Buyback Yield / Dilution | 0.53% | -0.37% | -0.74% | -0.82% | -1.12% | -9.31% |
| Total Shareholder Return | 0.97% | -0.11% | -0.40% | -0.10% | -0.03% | -8.32% |