Fluor vs Quanta Services
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KIRA’s take AI analyst
I put Fluor and Quanta Services side by side, using each one’s latest annual report. Here is what stands out:
- Quanta Services is the larger business, with $28.5B of revenue in fiscal 2025 against $15.5B for Fluor, about 1.8 times as much.
- Quanta Services grew revenue faster (20.3%, against −5.0%).
- Quanta Services kept more of each dollar of sales as operating profit (5.7% operating margin, against −2.4%).
- Quanta Services turned more of its sales into free cash flow (5.7% FCF margin, against −2.8%).
- Quanta Services earned a higher return on the capital invested in it (9.5%, against −13.9%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Fluor
FLR
1/10
Share count change
Quanta Services
PWR
9/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | FLR FY25 | PWR FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.3B | $85.9B |
| Revenue | $15.5B | $28.5B |
| Free cash flow | −$437M | $1.6B |
| Net income | −$51.0M | $1.0B |
| Growth | ||
| Revenue growth | −5.0% | 20.3% |
| 5-year growth | −0.4% | 20.5% |
| Share count change | −5.8% | 0.8% |
| Profitability | ||
| Gross margin | −0.8% | 15.0% |
| Operating margin | −2.4% | 5.7% |
| Net margin | −0.3% | 3.6% |
| FCF margin | −2.8% | 5.7% |
| Return on capital | −13.9% | 9.5% |
| Return on equity | −1.4% | 12.7% |
| Balance sheet | ||
| Net debt | −$1.1B | $5.6B |
| Net debt / EBITDA | — | 2.2x |
| Dividends and buybacks | $754M | $195M |
| Valuation & quality | ||
| P/E | — | 64.6x |
| Piotroski F-score | 3 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

