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IES vs Quanta Services: revenue, profit, margins and growth compared

IES brought in $3.4B of revenue in fiscal 2024, Quanta Services $28.5B in fiscal 2025. Revenue changed by +16.9% at IES and +20.3% at Quanta Services on the year before, so Quanta Services grew faster. IES kept 9.1% of its revenue as net profit, Quanta Services 3.6%. Free cash flow was $218.8M at IES and $1.6B at Quanta Services.

Side by side, latest fiscal year

IESCPWR
Fiscal year endedFY2024 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$3.4B$28.5B
Revenue growth+16.9%+20.3%
Net income$306M$1B
Net margin9.1%3.6%
Free cash flow$218.8M$1.6B
Free cash flow margin6.5%5.7%
Earnings per share (diluted)$15.02$6.80
Cash$127.2M$439.5M
Debt$0$763.9M
Price to earnings21.695.5
Market value$6.5B$95.6B
Dividend yieldn/a0.06%
Rank by revenue in sector#166 of 451 · Industrials#23 of 451 · Industrials

Over the years

Revenue
IESC FY2018: $876.8MIESC FY2019: $1.1BIESC FY2020: $1.2BIESC FY2021: $1.5BIESC FY2022: $2.2BIESC FY2023: $2.4BIESC FY2024: $2.9BIESC FY2024: $3.4BPWR FY2018: $11.2BPWR FY2019: $12.1BPWR FY2020: $11.2BPWR FY2021: $13BPWR FY2022: $17.1BPWR FY2023: $20.9BPWR FY2024: $23.7BPWR FY2025: $28.5BFY18FY19FY20FY21FY22FY23FY24FY25
IESC $3.4BPWR $28.5B
Net income
IESC FY2018: -$14.2MIESC FY2019: $33.2MIESC FY2020: $41.6MIESC FY2021: $66.7MIESC FY2022: $34.8MIESC FY2023: $108.3MIESC FY2024: $219.1MIESC FY2024: $306MPWR FY2018: $293.3MPWR FY2019: $402MPWR FY2020: $445.6MPWR FY2021: $486MPWR FY2022: $491.2MPWR FY2023: $744.7MPWR FY2024: $904.8MPWR FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
IESC $306MPWR $1B
Net margin
IESC FY2018: -1.6%IESC FY2019: 3.1%IESC FY2020: 3.5%IESC FY2021: 4.3%IESC FY2022: 1.6%IESC FY2023: 4.6%IESC FY2024: 7.6%IESC FY2024: 9.1%PWR FY2018: 2.6%PWR FY2019: 3.3%PWR FY2020: 4.0%PWR FY2021: 3.7%PWR FY2022: 2.9%PWR FY2023: 3.6%PWR FY2024: 3.8%PWR FY2025: 3.6%FY18FY19FY20FY21FY22FY23FY24FY25
IESC 9.1%PWR 3.6%
Revenue growth
IESC FY2019: +22.8%IESC FY2020: +10.6%IESC FY2021: +29.0%IESC FY2022: +41.0%IESC FY2023: +9.7%IESC FY2024: +21.3%IESC FY2024: +16.9%PWR FY2019: +8.4%PWR FY2020: -7.5%PWR FY2021: +15.9%PWR FY2022: +31.5%PWR FY2023: +22.3%PWR FY2024: +13.4%PWR FY2025: +20.3%FY19FY20FY21FY22FY23FY24FY25
IESC +16.9%PWR +20.3%
Free cash flow
IESC FY2018: $7.7MIESC FY2019: $32.4MIESC FY2020: $72MIESC FY2021: $30.5MIESC FY2022: -$13MIESC FY2023: $136.2MIESC FY2024: $189.2MIESC FY2024: $218.8MPWR FY2018: $65.2MPWR FY2019: $264.8MPWR FY2020: $855.9MPWR FY2021: $196.5MPWR FY2022: $702.7MPWR FY2023: $1.1BPWR FY2024: $1.5BPWR FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
IESC $218.8MPWR $1.6B

Fiscal years as each company reports them; the two may end in different months.

Questions about IES and Quanta Services

Which is bigger by revenue, IES or Quanta Services?

Quanta Services is bigger by revenue: $28.5B in fiscal 2025, against $3.4B for IES in fiscal 2024.

Which keeps more of its revenue as profit, IES or Quanta Services?

IES had a net margin of 9.1% in fiscal 2024; Quanta Services had 3.6% in fiscal 2025.

Which grew revenue faster, IES or Quanta Services?

In their latest fiscal years revenue changed by +16.9% at IES and +20.3% at Quanta Services.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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