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Centuri Holdings, Inc. (CTRI) Fair Value & Analysis

Utilities · US · Market cap $2.7B · ISIN US1559231055

What is Centuri Holdings, Inc. really worth?

CH Centuri Holdings, Inc. logo Centuri Holdings, Inc. CTRI · US
Price$20.51
Fair Value$4.66
Upside−77.3%
Quality39/100

Below-average quality, and trading another 340% above our fair value of $4.66.

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Risks

!Expensive Growth (revenue 5y +8.2 %/yr)
!Thin margins · 1.0% net margin
!Moderate debt · negative free cash flow
!Trails peers (3/13)
!Narrow moat 24/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 out of 100
Evidence: Medium Range $3.49 – $5.45

Fair value as of: Aug 27, 2026

From 15 valuation models · updated 9 days ago

Share price −6.3% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($5.45). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (2 years)

$41.80 $14.92 Fair Value $4.66 Apr 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

29‑month range $14.92 – $41.80 · fair‑value band $3.49 – $5.45 · the $20.51 price screens above the $4.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Centuri Holdings, Inc. (CTRI) currently trades at $20.51, while our model-based Fair Value estimate is $4.66, implying the stock looks roughly 340.1% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Utilities sector. Bull case: the DCF Models group reads highest at a median of $10.48 per share, and 1 of the 15 models we run sit above the $20.51 price. Bear case: the Earnings-Based group reads lowest at $1.56, and 14 of the 15 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Centuri Holdings, Inc. generated revenue of $3.2B at a net margin of 1.0%. Revenue grew 31.5% year over year. It earns a return on equity of 4.4%. Net debt stands at $195M. Fundamentals as of Aug 27, 2026

Our scenario range runs from $3.49 (bear case) to $5.45 (bull case); at $20.51, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 52% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −24% fair-value upside, at −77%, CTRI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.2436 per share, which is 5.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($1.56 to $26.96). Read the values as a conservative anchor, not as a price target.
Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence $6.09 $5.81 $4.66 76
Owner Earnings $4.76 $10.48 $18.95 73
EPV $1.76 $2.95 $3.98 72
All 15 models by family
DCF Models
Owner Earnings $4.76 $10.48 $18.95 73
Earnings-Based
Graham-Dodd $1.51 $4.90 $6.54 64
Lynch FV $1.09 $1.56 $2.03 61
PEG = 1.0 $1.09 $1.56 $2.03 57
EPV $1.76 $2.95 $3.98 72
Multiples
P/E Multiple $3.49 $4.66 $5.82 63
P/S Multiple $2.83 $3.77 $4.71 58
P/B Multiple $2.83 $3.77 $4.71 55
EV/EBIT $5.96 $9.87 $13.78 64
EV/EBITDA $18.78 $26.96 $35.14 67
EV/Revenue $2.61 $6.19 $9.78 50
Asset-Based
NCAV (Graham) $4.32 $5.79 $8.65 54
Economic Profit
Residual Income best evidence $6.09 $5.81 $4.66 76
ROIC Compounder $1.76 $2.95 $3.98 71
Growth Earnings
Growth-Adj P/E $2.93 $4.19 $5.45 67

Widest divergence: DCF Models ($10.48) versus Earnings-Based ($1.56). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 57.0
P/S ratio 0.44 P/E × margin
EPS (TTM) $0.3600 price ÷ EPS = P/E 57.0
Net margin 0.8% FY2025
Return on equity 4.4% TTM
Return on assets (EBIT) 0.8% avg 5y
More key figures
Profitability
Operating margin −0.7% TTM
Growth
Revenue (TTM) $3.2B TTM
Revenue growth (YoY) +31.5% 3y avg +1.5%
EPS growth (YoY) +175%
Balance sheet & cash flow
Free cash flow −$8.2M FY2025
Net debt $195M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 23

Profitability 34
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 38
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Centuri Holdings, Inc. operates as a utility infrastructure services company in North America. It operates through four segments: U.S. Gas Utility Services; Canadian Operations; Union Electric Utility Services; and Non-Union Electric Utility Services.

Full company description

Centuri Holdings, Inc. operates as a utility infrastructure services company in North America. It operates through four segments: U.S. Gas Utility Services; Canadian Operations; Union Electric Utility Services; and Non-Union Electric Utility Services. The company offers gas utility services, including maintenance, replacement, repair, and installation for local natural gas distribution utilities focused on the modernization of customers' infrastructure. It also provides electric utility services encompassing maintenance, replacement, repair, upgrade, and expansion services for urban transmission and local distribution infrastructure, as well as corporate and non-allocated transactions. The company customers include electric, gas, and combination utility providers, as well as serves end markets, such as distributed power projects, and data centers. The company was founded in 1909 and is headquartered in Phoenix, Arizona. Centuri Holdings, Inc. is a subsidiary of Southwest Gas Holdings, Inc.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Centuri Holdings, Inc. reported revenue of $2.9B in FY2025 versus $2.2B in FY2021, a compound +7.5%/yr. Reported net income was $22.4M in FY2025, compounding −13.8%/yr from FY2021.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$2.9B
Latest YoY
+9.4%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.5%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.2%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
−28.4% (−28.4 + 0.0)
Revenue +7.5%/yr
FY21 $2.2B
FY22 $2.8B
FY23 $2.9B
FY24 $2.6B
FY25 $2.9B
Net income −13.8%/yr
FY21 $40.5M
FY22 −$168M
FY23 −$186M
FY24 −$6.7M
FY25 $22.4M

CTRI screens 340% overvalued. Compare with Naturgy Energy Group →

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Centuri Holdings, Inc. · Fair Value
$4.66 −340%Fair Value
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Cite: Fair Value Calculator (2026). "Centuri Holdings, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/CTRI

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Utilities - Regulated Gas · 105 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 39 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 4% · Bottom 25%
Return on assets 3% · Below median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Revenue growth 32% · Top 25%
Debt / equity 0.81× · Higher than 75% of peers

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 57.0× · Pricier than 75% of peers
P/B 3.04× · Pricier than 75% of peers
P/S (TTM) 0.84× · Cheaper than median
EV/EBITDA 13.0× · Pricier than 75% of peers
PEG 1.01× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 27
FUTURE100 · sector 0
PAST18 · sector 35
HEALTH59 · sector 87
DIVIDEND0 · sector 71

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €29.60 €31.58 +7%
Atmos Energy Corporation ATO $166.65 $85.67 −49%
NiSource Inc NI $40.96 $28.59 −30%
Uniper SE UN0 €47.45 €48.32 +2%
The Hong Kong and China Gas Company 0003 HK$7.31 HK$4.79 −34%
GAIL (India) Limited GAIL ₹171.10 ₹130.21 −24%
Italgas S.p.A IG €8.67 €8.63 −1%
Adani Total Gas Limited ATGL ₹654.05 ₹101.36 −85%
ENN Natural Gas Co 600803 ¥17.51 ¥25.71 +47%
UGI Corporation UGI $38.01 $26.72 −30%

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Frequently asked questions

Is Centuri Holdings, Inc. (CTRI) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of $4.66 versus a price of $20.51, about −77% upside (overvalued).
What is the fair value of CTRI?
Our model-based fair value for Centuri Holdings, Inc. is $4.66 (as of Aug 27, 2026), built from audited fundamentals. The current price: $20.51.
What is the quality score of CTRI?
Centuri Holdings, Inc. has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Centuri Holdings, Inc. (CTRI)?
Centuri Holdings, Inc. reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Aug 27, 2026).
What is the net profit margin of CTRI?
The net profit margin of Centuri Holdings, Inc. is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
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