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Stocks · Industrials · Water, Sewer, Pipeline, Comm & Power Line Construction

Primoris Services Corp

PRIM Clue Score74
United States Fiscal year ends December CIK 0001361538
$82.79 -0.97% Close, 12 Oct 2026
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Price $82.79 +210.66% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,996.9Operating income57.7Net income26.7EPS, diluted0.51Fiscal year 2017Revenue2,380.0 +19.2%Operating income106.3Net income72.4 +170.8%EPS, diluted1.40 +174.5%Fiscal year 2018Revenue2,939.5 +23.5%Operating income130.5Net income77.5 +7.1%EPS, diluted1.50 +7.1%Fiscal year 2019Revenue3,106.3 +5.7%Operating income140.9Net income82.3 +6.3%EPS, diluted1.61 +7.3%Fiscal year 2020Revenue3,491.5 +12.4%Operating income163.9Net income105.0 +27.5%EPS, diluted2.16 +34.2%Fiscal year 2021Revenue3,497.6 +0.2%Operating income170.2Net income115.7 +10.2%EPS, diluted2.17 +0.5%Fiscal year 2022Revenue4,420.6 +26.4%Operating income195.3Net income133.0 +14.9%EPS, diluted2.47 +13.8%Fiscal year 2023Revenue5,715.3 +29.3%Operating income253.1Net income126.1 −5.2%EPS, diluted2.33 −5.7%Fiscal year 2024Revenue6,366.8 +11.4%Operating income317.4Net income180.9 +43.5%EPS, diluted3.31 +42.1%Fiscal year 2025Revenue7,574.9 +19.0%Operating income411.5Net income274.9 +52.0%EPS, diluted5.02 +51.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,996.9 2,380.0 2,939.5 3,106.3 3,491.5 3,497.6 4,420.6 5,715.3 6,366.8 7,574.9
Growth +19.2% +23.5% +5.7% +12.4% +0.2% +26.4% +29.3% +11.4% +19.0%
Operating income 57.7 106.3 130.5 140.9 163.9 170.2 195.3 253.1 317.4 411.5
Net income 26.7 72.4 77.5 82.3 105.0 115.7 133.0 126.1 180.9 274.9
Growth +170.8% +7.1% +6.3% +27.5% +10.2% +14.9% −5.2% +43.5% +52.0%
EPS, diluted 0.51 1.40 1.50 1.61 2.16 2.17 2.47 2.33 3.31 5.02
Growth +174.5% +7.1% +7.3% +34.2% +0.5% +13.8% −5.7% +42.1% +51.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin10.1%Operating margin2.9%Net margin1.3%Free cash flow margin0.2%Fiscal year 2017Gross margin11.7%Operating margin4.5%Net margin3.0%Free cash flow margin4.6%Fiscal year 2018Gross margin11.1%Operating margin4.4%Net margin2.6%Free cash flow margin0.6%Fiscal year 2019Gross margin10.7%Operating margin4.5%Net margin2.7%Free cash flow margin0.8%Fiscal year 2020Gross margin10.6%Operating margin4.7%Net margin3.0%Free cash flow margin7.1%Fiscal year 2021Gross margin11.9%Operating margin4.9%Net margin3.3%Free cash flow margin−1.5%Fiscal year 2022Gross margin10.3%Operating margin4.4%Net margin3.0%Free cash flow margin−0.3%Fiscal year 2023Gross margin10.3%Operating margin4.4%Net margin2.2%Free cash flow margin1.7%Fiscal year 2024Gross margin11.0%Operating margin5.0%Net margin2.8%Free cash flow margin6.0%Fiscal year 2025Gross margin10.7%Operating margin5.4%Net margin3.6%Free cash flow margin4.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 10.1% 11.7% 11.1% 10.7% 10.6% 11.9% 10.3% 10.3% 11.0% 10.7%
Operating margin 2.9% 4.5% 4.4% 4.5% 4.7% 4.9% 4.4% 4.4% 5.0% 5.4%
Net margin 1.3% 3.0% 2.6% 2.7% 3.0% 3.3% 3.0% 2.2% 2.8% 3.6%
Free cash flow margin 0.2% 4.6% 0.6% 0.8% 7.1% −1.5% −0.3% 1.7% 6.0% 4.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow62.6Capital expenditure−58.0Free cash flow4.6Buybacks−5.0Dividends paid−11.4Fiscal year 2017Operating cash flow188.9Capital expenditure−79.8Free cash flow109.2 +2,299.1%Buybacks−5.0Dividends paid−11.3Fiscal year 2018Operating cash flow126.8Capital expenditure−110.2Free cash flow16.6 −84.8%Buybacks−20.0Dividends paid−12.3Fiscal year 2019Operating cash flow118.9Capital expenditure−94.5Free cash flow24.5 +47.1%Dividends paid−12.2Fiscal year 2020Operating cash flow313.0Capital expenditure−64.4Free cash flow248.6 +916.9%Buybacks−11.5Dividends paid−11.6Fiscal year 2021Operating cash flow79.7Capital expenditure−133.8Free cash flow−54.1 −121.8%Buybacks−14.7Dividends paid−12.6Fiscal year 2022Operating cash flow83.3Capital expenditure−94.7Free cash flow−11.3Buybacks−6.0Dividends paid−12.8Fiscal year 2023Operating cash flow198.5Capital expenditure−103.0Free cash flow95.5Dividends paid−12.8Fiscal year 2024Operating cash flow508.3Capital expenditure−126.5Free cash flow381.8 +299.8%Dividends paid−12.9Fiscal year 2025Operating cash flow470.4Capital expenditure−129.9Free cash flow340.5 −10.8%Dividends paid−17.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 62.6 188.9 126.8 118.9 313.0 79.7 83.3 198.5 508.3 470.4
Capital expenditure −58.0 −79.8 −110.2 −94.5 −64.4 −133.8 −94.7 −103.0 −126.5 −129.9
Free cash flow 4.6 109.2 16.6 24.5 248.6 −54.1 −11.3 95.5 381.8 340.5
Growth +2,299.1% −84.8% +47.1% +916.9% −121.8% +299.8% −10.8%
Buybacks −5.0 −5.0 −20.0 n/a −11.5 −14.7 −6.0 n/a n/a n/a
Dividends paid −11.4 −11.3 −12.3 −12.2 −11.6 −12.6 −12.8 −12.8 −12.9 −17.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash135.8Total debt261.3Net cash (debt)−125.5Shareholders’ equity498.6Debt to equity0.52Fiscal year 2017Cash170.4Total debt258.8Net cash (debt)−88.4Shareholders’ equity562.2Debt to equity0.46Fiscal year 2018Cash151.1Total debt368.2Net cash (debt)−217.1Shareholders’ equity607.0Debt to equity0.61Fiscal year 2019Cash120.3Total debt351.3Net cash (debt)−231.0Shareholders’ equity629.5Debt to equity0.56Fiscal year 2020Cash326.7Total debt316.6Net cash (debt)10.2Shareholders’ equity714.8Debt to equity0.44Fiscal year 2021Cash200.5Total debt661.5Net cash (debt)−461.0Shareholders’ equity990.1Debt to equity0.67Fiscal year 2022Cash248.7Total debt1,143.5Net cash (debt)−894.8Shareholders’ equity1,108.9Debt to equity1.03Fiscal year 2023Cash217.8Total debt958.3Net cash (debt)−740.5Shareholders’ equity1,236.1Debt to equity0.78Fiscal year 2024Cash455.8Total debt734.8Net cash (debt)−279.0Shareholders’ equity1,409.5Debt to equity0.52Fiscal year 2025Cash535.5Total debt469.9Net cash (debt)65.6Shareholders’ equity1,681.0Debt to equity0.28
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 135.8 170.4 151.1 120.3 326.7 200.5 248.7 217.8 455.8 535.5
Total debt 261.3 258.8 368.2 351.3 316.6 661.5 1,143.5 958.3 734.8 469.9
Net cash (debt) −125.5 −88.4 −217.1 −231.0 10.2 −461.0 −894.8 −740.5 −279.0 65.6
Shareholders’ equity 498.6 562.2 607.0 629.5 714.8 990.1 1,108.9 1,236.1 1,409.5 1,681.0
Debt to equity 0.52 0.46 0.61 0.56 0.44 0.67 1.03 0.78 0.52 0.28

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
10.1% 11.7% 11.1% 10.7% 10.6% 11.9% 10.3% 10.3% 11.0% 10.7%
2.9% 4.5% 4.4% 4.5% 4.7% 4.9% 4.4% 4.4% 5.0% 5.4%
2.4% 4.4% 3.9% 3.8% 4.2% 4.3% 3.6% 3.1% 4.0% 5.1%
1.3% 3.0% 2.6% 2.7% 3.0% 3.3% 3.0% 2.2% 2.8% 3.6%
0.2% 4.6% 0.6% 0.8% 7.1% −1.5% −0.3% 1.7% 6.0% 4.5%
Spending
7.0% 7.2% 6.2% 6.1% 5.8% 6.6% 6.4% 5.8% 6.0% 5.3%
2.9% 3.4% 3.7% 3.0% 1.8% 3.8% 2.1% 1.8% 2.0% 1.7%
43.3% 27.0% 22.7% 28.7% 27.9% 23.8% 16.5% 29.0% 29.0% 28.4%
Returns
5.4% 12.9% 12.8% 13.1% 14.7% 11.7% 12.0% 10.2% 12.8% 16.4%
2.3% 5.8% 4.9% 4.5% 5.3% 4.6% 3.8% 3.3% 4.3% 6.2%
Balance and payout
0.52 0.46 0.61 0.56 0.44 0.67 1.03 0.78 0.52 0.28
57.4% 55.2% 61.9% 65.6% 63.7% 61.1% 68.7% 67.7% 66.4% 61.9%
42.6% 15.7% 15.9% 14.8% 11.0% 10.9% 9.6% 10.2% 7.1% 6.3%
360.1% 15.0% 194.5% 49.9% 9.3% n/a n/a 13.4% 3.4% 5.1%