We publish no single base value for Quanta Services. Our valuation methods put it between $975.01 and $2,047.45 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | $2,047.45 | +237.8% | free cash flow $3.16bn, growth 37.77% for 5 years, then fading to 3% over 5 more, discounted at 10.21%; stress floor $553.39 |
| Exit multiple (P/E) | $975.01 | +60.9% | earnings per share $18.17 valued at 32.39× (the stock's own median P/E) in 5 years, discounted back |
| Sum of the parts | — | — | no sum of the parts: this run holds no segment disclosure for the name |
| Price to sales | — | — | not reached: the cash-flow or earnings methods produced an anchor, so this fallback was not run |
| Tangible book | — | — | used only for lenders, where book value is the business |
| Price to FFO (REITs) | — | — | used only for REITs |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
The discount rate:
| Risk-free rate | 5.13% (10-year US Treasury yield) |
| Company's own beta | 1.29 (5 years of monthly returns against the S&P 500; standard error 0.23) |
| Peer beta | 1.01 (median of 79 S&P 500 Industrials companies) |
| Blend of own and peers | 1.19 (64% own, 36% peers, weighted by how precisely the company's own beta is measured) |
| Adjusted beta | 1.13 (0.67 × 1.19 + 0.33, pulled toward the market's 1.0) |
| Equity risk premium | 4.5% |
| Discount rate = risk-free + adjusted beta × premium | 10.21% |
Free cash flow grows 37.77% a year for 5 years, then fades in equal steps toward 3% over 5 more; each year is discounted by 1 ÷ (1 + rate)^year:
| Year | Growth | Free cash flow | Discount factor | Present value |
|---|---|---|---|---|
| Now | — | $3.16bn | — | — |
| Year 1 | 37.77% | $4.35bn | 0.9073 | $3.94bn |
| Year 2 | 37.77% | $5.99bn | 0.8232 | $4.93bn |
| Year 3 | 37.77% | $8.25bn | 0.7469 | $6.16bn |
| Year 4 | 37.77% | $11.37bn | 0.6777 | $7.71bn |
| Year 5 | 37.77% | $15.66bn | 0.6149 | $9.63bn |
| Year 6 | 31.98% | $20.67bn | 0.5579 | $11.53bn |
| Year 7 | 26.18% | $26.08bn | 0.5062 | $13.20bn |
| Year 8 | 20.39% | $31.40bn | 0.4593 | $14.42bn |
| Year 9 | 14.59% | $35.98bn | 0.4167 | $14.99bn |
| Year 10 | 8.79% | $39.15bn | 0.3781 | $14.80bn |
| Terminal value = year-10 cash flow × (1 + 3%) ÷ (10.21% − 3%) | $558.87bn |
| Terminal value in today's money | $211.30bn |
| Present value of years 1–10 | $101.33bn |
| Total present value | $312.63bn |
| Shares outstanding | 152.69m |
| Value per share = total ÷ shares | $2,047.45 |
How the DCF value moves with the discount rate and the starting growth (the middle cell is the published value):
| Discount rate | Growth 32.77% | Growth 37.77% | Growth 42.77% |
|---|---|---|---|
| 9.21% | $1,888.28 | $2,464.91 | $3,197.73 |
| 10.21% | $1,573.62 | $2,047.45 | $2,648.57 |
| 11.21% | $1,338.34 | $1,735.66 | $2,238.84 |
The same DCF at each beta, starting growth unchanged:
| Beta | Value | Discount rate | DCF value |
|---|---|---|---|
| Company's own beta | 1.29 | 10.93% | $1,814.64 |
| Peer beta | 1.01 | 9.68% | $2,256.70 |
| Adjusted beta (used) | 1.13 | 10.21% | $2,047.45 |
Earnings per share grow on the same fading path as the DCF:
| Year | Growth | Earnings per share |
|---|---|---|
| Now | — | $18.17 |
| Year 1 | 37.77% | $25.03 |
| Year 2 | 27.34% | $31.87 |
| Year 3 | 20.04% | $38.26 |
| Year 4 | 14.93% | $43.97 |
| Year 5 | 11.35% | $48.96 |
| Earnings per share in year 5 | $48.96 |
| Exit P/E (the stock's own median P/E) | 32.39× |
| Value in 5 years = earnings × P/E | $1,585.68 |
| Discounted at 10.21% over 5 years: ÷ 1.6263 | $975.01 |
We publish no single base value for Quanta Services. Our valuation methods put it between $975.01 and $2,047.45 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
One-year price simulation: a 10% chance the price is below $254.15 and a 10% chance it is above $1,214.32 in a year; a 45% chance it is higher than today's $606.16, from 60.71% volatility. The simulation assumes the price drifts up at our discount rate of 10.21% a year.
At $606.16 the price implies free cash flow growing 15.4% a year for five years and then fading toward 3% over five more; its revenue has grown 37.8%.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $676.56 | — |
| 9 Oct 2026 | $705.94 | — |
| 16 Oct 2026 | $631.86 | — |
| 23 Oct 2026 | $546.43 | — |
| 30 Oct 2026 | $620.73 | — |
| 6 Nov 2026 | $540.90 | — |
| 12 Nov 2026 | $606.16 | — |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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