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Primoris Services Corporation (PRIM) Fair Value & Analysis

Industrials · US · Market cap $4.8B · ISIN US74164F1030

What is Primoris Services Corporation really worth?

PS Primoris Services Corporation logo Primoris Services Corporation PRIM · US
Price$73.59
Fair Value$106.40
Upside+44.6%
Quality64/100

A solid business, trading 31% below our fair value of $106.40.

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Strengths

Healthy Growth (revenue 5y +16.8 %/yr)
Low debt · generates free cash flow

Risks

!Thin margins · 3.3% net margin
!Mixed vs. peers (6/15)
!Narrow moat 42/100
!Weak on dividend: 9 out of 100

For context

·0.43% dividend yield
Evidence: High Range $74.77 – $133.00

Fair value as of: Aug 19, 2026

From 26 valuation models · updated 16 days ago

Share price −19.0% over the past month.

What runs behind every stock

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

What matters now

  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The price sits below our cautious bear case: the market assumes less than even our pessimistic scenario.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

$202.75 $15.92 Fair Value $106.40 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range $15.92 – $202.75 · fair‑value band $74.77 – $133.00 · the $73.59 price screens below the $106.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Primoris Services Corporation (PRIM) currently trades at $73.59, while our model-based Fair Value estimate is $106.40, implying the stock looks roughly 30.8% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $140.48 per share, and 21 of the 26 models we run sit above the $73.59 price. Bear case: the Asset-Based group reads lowest at $20.76, and 5 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Primoris Services Corporation generated revenue of $7.5B at a net margin of 3.3%. Revenue declined 5.4% year over year. It earns a return on equity of 15.9%. Net debt stands at $735M. Fundamentals as of Aug 19, 2026

Our scenario range runs from $74.77 (bear case) to $133.00 (bull case); at $73.59, the current price sits below 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. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 64% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 45%, PRIM screens cheaper 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 $2.76 per share, which is 2.6 % 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.

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
FCF DCF $84.33 $156.13 $291.37 76
Growth DCF $82.50 $146.92 $255.69 76
EPV $53.51 $61.57 $68.53 74
All 26 models by family
DCF Models
FCF DCF $84.33 $156.13 $291.37 76
Owner Earnings $59.42 $111.12 $203.46 73
5Y Revenue Exit $76.03 $136.92 $222.04 71
5Y EBITDA Exit $86.56 $159.67 $254.60 73
5Y P/E Exit $79.49 $144.39 $221.36 69
10Y Revenue Exit $75.70 $134.98 $231.24 64
10Y EBITDA Exit $85.07 $151.73 $259.16 66
10Y P/E Exit $80.39 $140.48 $230.66 62
Earnings-Based
Graham-Dodd $34.45 $186.77 $258.94 63
Lynch FV $51.78 $73.98 $96.17 61
PEG = 1.0 $51.78 $73.98 $96.17 57
EPV $53.51 $61.57 $68.53 74
Dividend Discount
Gordon GGM $2.80 $5.58 $8.45 67
DDM Multi-Stage $2.80 $4.82 $5.89 67
Multiples
P/E Multiple $79.80 $106.40 $133.00 63
P/S Multiple $64.60 $86.14 $107.67 58
P/B Multiple $64.60 $86.14 $107.67 55
EV/EBIT $99.71 $132.13 $164.55 66
EV/EBITDA $93.33 $123.63 $153.93 67
EV/Revenue $71.86 $101.61 $131.37 54
Asset-Based
NCAV (Graham) $15.49 $20.76 $30.98 54
Growth DCF
Growth DCF $82.50 $146.92 $255.69 76
Rev-Margin DCF $76.03 $134.82 $214.77 71
Economic Profit
Residual Income $32.40 $44.58 $158.40 64
ROIC Compounder $61.55 $83.13 $111.58 71
Growth Earnings
Growth-Adj P/E $75.78 $108.25 $140.73 67

Widest divergence: DCF Models ($140.48) versus Dividend Discount ($4.82). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 16.7
P/S ratio 0.61 P/E × margin
EPS (TTM) $4.40 price ÷ EPS = P/E 16.7
Dividend yield 0.4% payout 7.3%
Net margin 3.6% FY2025
Return on equity 15.9% TTM
More key figures
Profitability
Return on assets (EBIT) 7.2% avg 5y
Operating margin 1.9% TTM
Growth
Revenue (TTM) $7.5B TTM
Revenue growth (YoY) −5.4% 3y avg +19.7%
EPS growth (YoY) −60.5%
Balance sheet & cash flow
Free cash flow $341M FY2025
Net debt $735M FY2025 · ≈ 2.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 6

Profitability 53
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 2
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 76
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

Primoris Services Corporation provides infrastructure services primarily in the United States and Canada. The company operates in two segments: Utilities and Energy. The Utilities segment offers installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems.

Full company description

Primoris Services Corporation provides infrastructure services primarily in the United States and Canada. The company operates in two segments: Utilities and Energy. The Utilities segment offers installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems. The Energy segment provides engineering, procurement, construction, and maintenance services for entities in the energy, renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries, as well as state departments of transportation. The company also provides replacement services. Primoris Services Corporation was founded in 1960 and is headquartered in Dallas, Texas.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Primoris Services Corporation reported revenue of $7.6B in FY2025 versus $3.5B in FY2021, a compound +21.3%/yr. Reported net income was $275M in FY2025, compounding +24.1%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$7.6B
Latest YoY
+19.0%
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.
+19.7%
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.
+16.8%
Avg. revenue growth/yr (18Y) 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.
+15.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+18.8% (18.4 + 0.4)
Revenue +21.3%/yr
FY21 $3.5B
FY22 $4.4B
FY23 $5.7B
FY24 $6.4B
FY25 $7.6B
Net income +24.1%/yr
FY21 $116M
FY22 $133M
FY23 $126M
FY24 $181M
FY25 $275M
Character of growth · EPS growth decomposed (2014-2025) +17.8 % p.a.
Revenue per share +13.4 %

of which total revenue +14.1 % · buybacks/dilution −0.6 %

EBIT margin +3.1 %
Tax rate +1.9 %
Residual (interest, one-offs) −1.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Primoris Services Corporation Fair Value". https://www.fairvalue-calculator.com/stock/PRIM

Earlier news

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

Peer Group

Engineering & Construction · 816 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 64 · Top 25%
Fair Value upside +45% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth −5% · Below median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 16.7× · Pricier than median
P/B 2.84× · Pricier than 75% of peers
P/S (TTM) 0.64× · Pricier than median
P/FCF 14.0× · Pricier than 75% of peers
EV/EBITDA 10.0× · Pricier than median
PEG 1.22× · Cheaper than median

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
VALUE93 · sector 16
FUTURE0 · sector 11
PAST63 · sector 26
HEALTH88 · sector 94
DIVIDEND9 · sector 39

Insider activity: 66/100

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $620.06 $143.92 −77%
Vinci SA DG €114.35 €185.62 +62%
Comfort Systems USA, Inc FIX $1,615 $519.97 −68%
Larsen & Toubro Limited LT ₹4,072 ₹2,196 −46%
Ferrovial N.V FER €57.28 €19.17 −67%
HOCHTIEF Aktiengesellschaft HOT €426.40 €203.87 −52%
Samsung C&T Corporation 028260 373,000 KRW 261,411 KRW −30%
EMCOR Group EME $775.04 $549.47 −29%
MasTec, Inc MTZ $241.00 $100.00 −59%
Bouygues SA EN €46.65 €65.67 +41%

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Frequently asked questions

Is Primoris Services Corporation (PRIM) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of $106.40 versus a price of $73.59, about +45% upside (undervalued).
What is the fair value of PRIM?
Our model-based fair value for Primoris Services Corporation is $106.40 (as of Aug 19, 2026), built from audited fundamentals. The current price: $73.59.
What is the quality score of PRIM?
Primoris Services Corporation has a Quality Score of 64/100. 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 Primoris Services Corporation (PRIM)?
Primoris Services Corporation reported trailing-twelve-month revenue of about $7.5B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of PRIM?
The net profit margin of Primoris Services Corporation is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.
Does Primoris Services Corporation pay a dividend?
Primoris Services Corporation currently shows a dividend yield of about 0.43% relative to its recent price (as of Aug 19, 2026).
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