Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
d Depreciation & amortization is the sum of the reported depreciation and the reported amortization of intangible assets where the filer tags no total. Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2011–FY2025: $2.94B in buybacks, $289.57M in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
1 filing observation remains unmatched and is excluded from instrument histories.
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
1 filing has incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.
Covenants
Some sections could not be verified in 2 agreement documents. Other restrictions or tests may apply.
Verified tests, triggers and restrictions appear with each agreement below. A verified term does not establish current compliance.
Loans, facilities and notes
5.300% Senior Notes due 2033
Note · Quanta Services, Inc.
Reference: 5.300% Senior Notes due 2033
Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Aug 9, 2033
Last reported interest terms:
5.3%
Reported 2026-08-06Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
Section 2.04 · Limitation on LiensExcept as provided below, the Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or permit to exist any indebtedness for borrowed money ("Indebtedness") secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, whether owned on the date of issuance of the Notes or thereafter acquired, unless the Company substantially contemporaneously secures the Notes…Defined terms:
Principal Property: means any manufacturing plant or other similar facility (including Production Machinery and Equipment located thereon), corporate office, equipment yard, maintenance facility, training facility or warehouse owned by the Company or any Subsidiary, which is located within the United States (excluding its territories and possessions), in each case having a net book value in excess of 1% of Consolidated Net Tangible Assets other than (i) any such plant, facility or property which the Company's Board of Directors determines in good faith is not of material importance to the total business conducted, or assets owned, by the Company and its Subsidiaries as an entirety or (ii) any portion of any such plant, facility or property which the Company's Board of Directors determines in good faith not to be of material importance to the use or operation thereof.
Source evidence: "Principal Property" means any manufacturing plant or other similar facility (including Production Machinery and Equipment located thereon), corporate office, equipment yard, maintenance facility, training facility or warehouse owned by the Company or any Subsidiary, which is located within the United States (excluding its territories and possessions), in each case having a net book value in excess of 1% of Consolidated Net Tangible Assets other than (i) any such plant, facility or property which the Company's Board of Directors determines in good faith is not of material importance to the total business conducted, or assets owned, by the Company and its Subsidiaries as an entirety or (ii) any portion of any such plant, facility or property which the Company's Board of Directors determines in good faith not to be of material importance to the use or operation thereof.
Restricted Subsidiary: means any Subsidiary of the Company (other than any Fund Entity or Captive Insurance Subsidiary), substantially all of the assets of which are located in the United States (excluding its territories and possessions) that at the time, directly or indirectly, through one or more Subsidiaries or in combination with one or more other Subsidiaries or the Company, owns a Principal Property; provided, however, that any Subsidiary that transacts any substantial portion of its business and regularly maintains any substantial portion of its fixed assets outside of the United States (excluding its territories and possessions) shall not be deemed to be a "Restricted Subsidiary."
Source evidence: "Restricted Subsidiary" means any Subsidiary of the Company (other than any Fund Entity or Captive Insurance Subsidiary), substantially all of the assets of which are located in the United States (excluding its territories and possessions) that at the time, directly or indirectly, through one or more Subsidiaries or in combination with one or more other Subsidiaries or the Company, owns a Principal Property; provided, however, that any Subsidiary that transacts any substantial portion of its business and regularly maintains any substantial portion of its fixed assets outside of the United States (excluding its territories and possessions) shall not be deemed to be a "Restricted Subsidiary."
Source evidence: Except as provided below, the Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or permit to exist any indebtedness for borrowed money ("Indebtedness") secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, whether owned on the date of issuance of the Notes or thereafter acquired, unless the Company substantially contemporaneously secures the Notes equally and ratably with (or prior to) such Indebtedness until such time as such Indebtedness is no longer secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, except that the foregoing restrictions shall not apply to Indebtedness secured by:
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its "5.300% Senior Notes due 2033" in the initial aggregate principal amount of $750,000,000 (the "Notes"); and
Target identity evidence: ELEVENTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this "Eleventh Supplemental Indenture"), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the "Company"), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the "Trustee") under the indenture of the Company dated as of September 22, 2020 (the "Indenture").
Section 2.03(a) · Purchase upon a Change of Control Triggering Eventeach Holder of the Notes will have the right to require the Company to purchase all or a portion (equal to $2,000 or whole multiples of $1,000 in excess thereof) of such Holder's Notes pursuant to the offer described below (the "Change of Control Offer") at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to (but excluding) the date of purchase (the "Change of Control Payment")SpringingTrigger: the occurrence of a Change of Control Triggering EventDefined terms:
Change of Control Triggering Event: means (i) the rating of the Notes by both Rating Agencies is lowered at any time during the period (the "Trigger Period") commencing on the earlier of (a) the occurrence of a Change of Control and (b) the first public announcement by the Company of any Change of Control (or pending Change of Control), and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either Rating Agency has publicly announced that it is considering a possible ratings downgrade), and (ii) the Notes are rated below Investment Grade by both Rating Agencies on any day during the Trigger Period.
Source evidence: "Change of Control Triggering Event" means (i) the rating of the Notes by both Rating Agencies is lowered at any time during the period (the "Trigger Period") commencing on the earlier of (a) the occurrence of a Change of Control and (b) the first public announcement by the Company of any Change of Control (or pending Change of Control), and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either Rating Agency has publicly announced that it is considering a possible ratings downgrade), and (ii) the Notes are rated below Investment Grade by both Rating Agencies on any day during the Trigger Period.
Source evidence: Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem the Notes in full by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of the Notes will have the right to require the Company to purchase all or a portion (equal to $2,000 or whole multiples of $1,000 in excess thereof) of such Holder's Notes pursuant to the offer described below (the "Change of Control Offer") at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to (but excluding) the date of purchase (the "Change of Control Payment"), subject to the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date.
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its "5.300% Senior Notes due 2033" in the initial aggregate principal amount of $750,000,000 (the "Notes"); and
Target identity evidence: ELEVENTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this "Eleventh Supplemental Indenture"), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the "Company"), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the "Trustee") under the indenture of the Company dated as of September 22, 2020 (the "Indenture").
Section 2.03(b) · Purchase upon a Change of Control Triggering Eventwithin 30 days following the date upon which the Change of Control Triggering Event occurred or, at the Company's option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company will be required to send, by first class mail (or with respect to any Global Security, to the extent permitted or required by the Depositary's Applicable Procedures, send electronically) a notice to each Holder of such Notes, with a copy to the TrusteeSECTION 2.03 Purchase upon a Change of Control Triggering Event.Full wording and supporting evidence
Source evidence: Unless the Company has exercised its right to redeem such Notes, within 30 days following the date upon which the Change of Control Triggering Event occurred or, at the Company's option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company will be required to send, by first class mail (or with respect to any Global Security, to the extent permitted or required by the Depositary's Applicable Procedures, send electronically) a notice to each Holder of such Notes, with a copy to the Trustee, which notice will govern the terms of the Change of Control Offer.
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its "5.300% Senior Notes due 2033" in the initial aggregate principal amount of $750,000,000 (the "Notes"); and
Target identity evidence: ELEVENTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this "Eleventh Supplemental Indenture"), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the "Company"), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the "Trustee") under the indenture of the Company dated as of September 22, 2020 (the "Indenture").
WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.300% Senior Notes due 2033” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Issuer evidence: ELEVENTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Eleventh Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Supporting evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.300% Senior Notes due 2033” of the Company. The aggregate principal amount of Notes that may be authenticated and delivered under this Eleventh Supplemental Indenture is initially limited to $750,000,000, except for Notes authenticated and delivered upon reregistration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.07, 2.08, 2.09 or 9.04 of the Indenture.
Supporting evidence: The Stated Maturity shall be August 9, 2033 for payment of principal of the Notes. The Notes shall bear interest at the rate of 5.300% per annum, from August 6, 2026 or the most recent interest payment date to which interest has been paid or duly provided for, payable semi-annually in arrears on February 9 and August 9 of each year (commencing February 9, 2027), to the Persons in whose names the Notes are registered at the close of business on January 24 or July 24, as the case may be, next preceding such interest payment date, until principal thereof is paid or made available for payment.
Supporting evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.300% Senior Notes due 2033” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Supporting evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.300% Senior Notes due 2033” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
5.550% Senior Notes due 2036
Note · Quanta Services, Inc.
Reference: 5.550% Senior Notes due 2036
Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
5.55%
Reported 2026-08-06Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
SECTION 2.04 · Limitation on LiensExcept as provided below, the Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or permit to exist any indebtedness for borrowed money (“Indebtedness”) secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, whether owned on the date of issuance of the Notes or thereafter acquired, unless the Company substantially contemporaneously secures the Notes…Exceptions: except that the foregoing restrictions shall not apply to Indebtedness secured by:SECTION 2.04 Limitation on Liens.Full wording and supporting evidence
Source evidence: Except as provided below, the Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or permit to exist any indebtedness for borrowed money (“Indebtedness”) secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, whether owned on the date of issuance of the Notes or thereafter acquired, unless the Company substantially contemporaneously secures the Notes equally and ratably with (or prior to) such Indebtedness until such time as such Indebtedness is no longer secured by a Lien on any Principal Property or any shares of stock of or any Indebtedness of any Restricted Subsidiary, except that the foregoing restrictions shall not apply to Indebtedness secured by:
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
SECTION 2.03(a) · Purchase upon a Change of Control Triggering Event(a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem the Notes in full by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of the Notes will have the right to require the Company to purchase all or a portion (equal to $2,000 or whole multiples of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) at a purchase price equal to 101% of the…SpringingTrigger: Upon the occurrence of a Change of Control Triggering EventExceptions: unless the Company has exercised its right to redeem the Notes in full by giving irrevocable notice to the Trustee in accordance with the IndentureDefined terms:
Change of Control Triggering Event: means (i) the rating of the Notes by both Rating Agencies is lowered at any time during the period (the “Trigger Period”) commencing on the earlier of (a) the occurrence of a Change of Control and (b) the first public announcement by the Company of any Change of Control (or pending Change of Control), and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either Rating Agency has publicly announced that it is considering a possible ratings downgrade), and (ii) the Notes are rated below Investment Grade by both Rating Agencies on any day during the Trigger Period.
Source evidence: “Change of Control Triggering Event” means (i) the rating of the Notes by both Rating Agencies is lowered at any time during the period (the “Trigger Period”) commencing on the earlier of (a) the occurrence of a Change of Control and (b) the first public announcement by the Company of any Change of Control (or pending Change of Control), and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either Rating Agency has publicly announced that it is considering a possible ratings downgrade), and (ii) the Notes are rated below Investment Grade by both Rating Agencies on any day during the Trigger Period.
Investment Grade: means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P) and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company under the circumstances permitting the Company to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agencies.”
Source evidence: “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P) and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company under the circumstances permitting the Company to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agencies.”
Source evidence: (a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem the Notes in full by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of the Notes will have the right to require the Company to purchase all or a portion (equal to $2,000 or whole multiples of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to (but excluding) the date of purchase (the “Change of Control Payment”), subject to the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date. If the Change of Control Payment Date (as defined below) falls on a day that is not a Business Day, the related payment of the Change of Control Payment will be made on the next Business Day as if it were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from and after such date to the next Business Day.
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
SECTION 2.03(e) · Purchase upon a Change of Control Triggering EventThe Company will comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the purchase of the Notes as a result of a Change of Control Triggering Event.SpringingTrigger: in connection with the purchase of the Notes as a result of a Change of Control Triggering EventExceptions: To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes or the Indenture, the Company will comply with those securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.03 by virtue of any such conflict.SECTION 2.03 Purchase upon a Change of Control Triggering Event.Full wording and supporting evidence
Source evidence: (e) The Company will comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the purchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes or the Indenture, the Company will comply with those securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.03 by virtue of any such conflict.
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Section 3.01(d) · Events of Default(d) failure on the part of the Company to comply with any of the covenants or agreements on the part of the Company in this Twelfth Supplemental Indenture and the Indenture for the benefit of the Notes (other than a covenant a default in the performance of which is otherwise specifically dealt with), continuing for a period of 90 days after the date on which written notice specifying such failure and requiring the Company to remedy the same shall have been given, by registered or certified mail or…Exceptions: other than a covenant a default in the performance of which is otherwise specifically dealt withSECTION 3.01 Events of Default.Full wording and supporting evidence
Source evidence: (d) failure on the part of the Company to comply with any of the covenants or agreements on the part of the Company in this Twelfth Supplemental Indenture and the Indenture for the benefit of the Notes (other than a covenant a default in the performance of which is otherwise specifically dealt with), continuing for a period of 90 days after the date on which written notice specifying such failure and requiring the Company to remedy the same shall have been given, by registered or certified mail or overnight courier guaranteeing next day delivery, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time Outstanding;
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Target scope evidence: If any one or more of the following shall have occurred and be continuing with respect to the Notes (each of the following, an “Event of Default”):
Section 3.01(e) · Events of Default(e) indebtedness for money borrowed of the Company or any Restricted Subsidiary of the Company is not paid within any applicable grace period after final maturity or is accelerated prior to its stated final maturity by the holders thereof because of a default, the total principal amount of such indebtedness unpaid or accelerated exceeds $400.0 million or the United States dollar equivalent thereof at the time and such default remains uncured or such acceleration is not rescinded or annulled for 30 days…Metric: the total principal amount of such indebtedness unpaid or acceleratedStated threshold: 400 millionSECTION 3.01 Events of Default.Full wording and supporting evidence
Source evidence: (e) indebtedness for money borrowed of the Company or any Restricted Subsidiary of the Company is not paid within any applicable grace period after final maturity or is accelerated prior to its stated final maturity by the holders thereof because of a default, the total principal amount of such indebtedness unpaid or accelerated exceeds $400.0 million or the United States dollar equivalent thereof at the time and such default remains uncured or such acceleration is not rescinded or annulled for 30 days after the date on which written notice specifying such failure and requiring the Company to remedy the same has been given, by registered or certified mail or by overnight courier guaranteeing next day delivery, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time Outstanding;
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Target scope evidence: If any one or more of the following shall have occurred and be continuing with respect to the Notes (each of the following, an “Event of Default”):
Section 3.01(a) · Events of Defaultdefault in the payment of any installment of interest on the Notes as and when the same shall become due and payable, and continuance of such default for a period of 30 days;Metric: continuance of such defaultStated threshold: 30 daysSECTION 3.01 Events of Default.Full wording and supporting evidence
Source evidence: (a) default in the payment of any installment of interest on the Notes as and when the same shall become due and payable, and continuance of such default for a period of 30 days;
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Target scope evidence: If any one or more of the following shall have occurred and be continuing with respect to the Notes (each of the following, an “Event of Default”):
Section 3.01(c) · Events of Defaultdefault in the payment of any sinking fund payment with respect to the Notes as and when the same shall become due and payable and continuance of such default for a period of 30 days;Metric: continuance of such defaultStated threshold: 30 daysSECTION 3.01 Events of Default.Full wording and supporting evidence
Source evidence: (c) default in the payment of any sinking fund payment with respect to the Notes as and when the same shall become due and payable and continuance of such default for a period of 30 days;
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Target scope evidence: If any one or more of the following shall have occurred and be continuing with respect to the Notes (each of the following, an “Event of Default”):
Section 3.01(b) · Events of Defaultdefault in the payment of the principal of or premium, if any, on the Notes as and when the same shall become due and payable, whether at maturity, upon redemption, by declaration, upon required purchase or otherwise;SECTION 3.01 Events of Default.Full wording and supporting evidence
Source evidence: (b) default in the payment of the principal of or premium, if any, on the Notes as and when the same shall become due and payable, whether at maturity, upon redemption, by declaration, upon required purchase or otherwise;
Target identity evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Target identity evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Target identity evidence: There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company.
Target identity evidence: CUSIP No. 74762E AS1
Target identity evidence: ISIN No. US74762EAS19
Target scope evidence: If any one or more of the following shall have occurred and be continuing with respect to the Notes (each of the following, an “Event of Default”):
There are hereby created under the Indenture a series of Debt Securities known and designated as the “5.550% Senior Notes due 2036” of the Company. The aggregate principal amount of Notes that may be authenticated and delivered under this Twelfth Supplemental Indenture is initially limited to $750,000,000, except for Notes authenticated and delivered upon reregistration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.07, 2.08, 2.09 or 9.04 of the Indenture.
Issuer evidence: TWELFTH SUPPLEMENTAL INDENTURE dated as of August 6, 2026 (this “Twelfth Supplemental Indenture”), made and entered into by and between Quanta Services, Inc., a Delaware corporation, having its principal office at 2727 North Loop West, Houston, Texas 77008 (the “Company”), and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”) under the indenture of the Company dated as of September 22, 2020 (the “Indenture”).
Supporting evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Supporting evidence: WHEREAS, the Company has duly authorized the creation of a series of its Debt Securities denominated its “5.550% Senior Notes due 2036” in the initial aggregate principal amount of $750,000,000 (the “Notes”); and
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
2.56×
Peer median 1.47×
EV/EBIT
37.48×
Peer median 24.73×
P/E (TTM)
54.53×
Peer median 24.03×
Price/Sales (TTM)
2.43×
Peer median 1.46×
Price/Book
8.61×
Peer median 5.37×
EV/Adj. EBITDA (FY2024)
40.92×
Peer median 20.83×
Peer medians compare against the 7 similar-size Engineering & Construction companies (of 53 listed).
EV/Adj. EBITDA uses
the company-stated
“Adjusted EBITDA”,
extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.
Valuation over time computed as of each quarter's filing date
EV/Adj. EBITDA uses
the company-stated
“Adjusted EBITDA”,
extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
Electric Power
$23,001,468,000
$19,012,379,000
$15,867,198,000
$8,940,276,000
$7,624,240,000
$6,468,192,000
$6,346,837,000
$6,415,562,000
Underground and Infrastructure
$5,478,229,000
$4,660,416,000
$5,015,008,000
$4,355,067,000
$3,530,714,000
$3,429,329,000
$4,990,316,000
$4,755,861,000
Renewable Energy
—
—
—
$3,778,560,000
$1,825,259,000
$1,305,151,000
$775,000,000
—
By Geography (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
United States
$26,482,963,000
$21,606,807,000
$17,910,892,000
$14,390,237,000
$11,068,493,000
$9,618,951,000
$10,190,684,000
$8,575,341,000
Canada
$1,018,752,000
$1,025,074,000
$2,045,999,000
$2,020,853,000
$1,557,117,000
$1,252,365,000
$1,436,720,000
$1,984,214,000
Australia
$779,532,000
$666,870,000
$612,497,000
$428,321,000
$221,038,000
$200,664,000
$187,915,000
$377,453,000
Other Countries
$198,450,000
$374,044,000
$312,818,000
$234,492,000
$133,565,000
$130,692,000
$296,834,000
$234,415,000
Non Us
—
—
—
—
—
$1,580,000,000
$1,920,000,000
$2,600,000,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
