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| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $11,203 | $12,980 | $17,074 | $20,882 | $23,673 |
| Gross Profit | $1,661 | $1,953 | $2,529 | $2,937 | $3,511 |
| Operating Income | $611 | $664 | $872 | $1,128 | $1,346 |
| Net Income | $446 | $486 | $491 | $745 | $905 |
Over the past five years, Quanta Services, Inc. has demonstrated a solid upward trend in its key financial metrics. Revenues increased notably from $11,202.67 million in 2020 to $23,672.80 million in 2024—a growth of approximately 112% over the period. This robust revenue growth is mirrored in gross profit figures, which more than doubled from $1,660.85 million in 2020 to $3,510.76 million in 2024. Operating income also showed marked improvement, rising from $611.37 million to $1,346.47 million, while net income improved from $445.60 million to $904.82 million. Although the pace of net income growth was more moderate in the early years (with only a slight increase from 2021 to 2022) it accelerated in later years, particularly from 2022 to 2023. Noteworthy is the significant year-over-year boost in revenue and operating margins particularly between 2021 and 2023, where the revenue increased by over 30% from 2021 to 2022, and operating income saw a similar sharp rise. These jumps suggest that the company may have benefited from favorable market conditions or operational efficiencies during these periods. Given Quanta Services’ position as a leading specialized contractor in the utility and infrastructure sectors, these positive trends indicate strong operational execution and a resilient market environment. Overall, the company’s financial performance over these five years demonstrates improved profitability, robust revenue expansion, and efficient cost management, suggesting a sound financial footing and sustainable growth trajectory.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.