Primoris Services Corporation (PRIM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Primoris Services Corporation stock $112, price $65.40, upside +71.0%, quality 64 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $15.90 – $202.53 · fair‑value band $79.63 – $145.35 · the $65.40 price screens below the $111.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Primoris Services Corporation provides infrastructure services primarily in the United States and Canada. The company operates in two segments: Utilities and Energy.
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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.
Stock analysis
Primoris Services Corporation (PRIM) currently trades at $65.40, while our model-based Fair Value estimate is $111.81, implying the stock looks roughly 42% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $143.59 per share, and 20 of the 26 models we run sit above the $65.40 price.
Bear case: the Economic Profit group reads lowest at $57.20, and 6 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $79.63 (bear) to $145.35 (bull), the price of $65.40 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap $3.5B Mid · P/E ratio 36.9 · P/S ratio 0.50 · EPS (TTM) $1.77 · Dividend yield 0.5% · Net margin 1.4% · Return on equity 6.1% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 68% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 71%, PRIM screens cheaper than that median.
Fair Value models
Bear$79.63Fair Value $111.81Bull$145.35
Price $65.40 · Upside +71.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.24 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $1.0M, on May 27, 2026. Over the same period, 2 people sold shares worth $6.2M.
SaleJohn M. PerisichCHIEF LEGAL AND ADMIN OFFICER29,707 shares at $127.86$3.8MMay 28, 2026
BuyKoti VadlamudiPRESIDENT & CEO, Director7,815 shares at $127.96$1.0MMay 27, 2026
SaleDavid Lee KingDirector2× since Nov 10, 2025: 23,500 shares, avg. $120.71$2.8MMay 26, 2026
SaleJohn P. SchauermanDirector7,815 shares at $136.00$1.1MDec 11, 2025
SaleCarla S MashinskiDirector2,082 shares at $135.14$281,361Dec 8, 2025
Plan buyTerry D McCallisterDirector4× since Jan 15, 2026: 63 shares, avg. $106.58$6,720Oct 15, 2026
Plus 16 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.8%
Start year 2020 (pandemic). Over 10 years: +14.7% a year
Revenue growth 18 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.7%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+15.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.0%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.4% vs 21.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 6%
2025 sits 103% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −2.8% a year for the price and +4.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Primoris demonstrates execution progress on solar projects and a record backlog but shows limited public evidence of a durable moat in engineering and construction.
Main risk: Renewables execution risks could persist and hit margins through further cost overruns on utility-scale solar projects.
Primoris has brought five of its six challenged utility-scale solar projects to mechanical completion, with the last due in the fourth quarter, and installed new renewables leadership drawn from Apex Clean Energy. The moves follow earlier cost overruns that prompted reduced 2026 guidance. Will disciplined execution on the remaining projects and the record backlog deliver sustained improvement, or will renewables execution risks persist into next year?
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Peer Groupⓘ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.Engineering & Construction · 791 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+71.0% · Top 25%
Profitability
Return on equity (12 months)6.1% · Below median
Return on assets6.2% · Top 25%
Net margin (12 months)1.4% · Below median
Operating margin (12 months)4.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)−10.4% · Below median
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity0.24× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)36.9× · Priciest 25%
P/B2.10× · Pricier than median
P/S (12 months)0.50× · Cheaper than median
Price / free cash flow (fiscal year)10.4× · Cheaper than median
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Is Primoris Services Corporation (PRIM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $111.81 versus a price of $65.40, about +71% upside (undervalued).
What is the fair value of PRIM?
Our model-based fair value for Primoris Services Corporation is $111.81 (as of Nov 7, 2026), built from audited fundamentals. The current price: $65.40.
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 price target for Primoris Services Corporation (PRIM)?
Our model-based price target is the fair value of $111.81 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario $79.63, optimistic scenario $145.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Primoris Services Corporation stock forecast for 2026?
Our models put fair value at $111.81, about +71% upside versus a price of $65.40 (undervalued). Cautious scenario $79.63, optimistic scenario $145.35. The calculation is refreshed regularly with new filings.
What is the revenue of Primoris Services Corporation (PRIM)?
Primoris Services Corporation reported trailing-twelve-month revenue of about $7.1B (latest available figure, as of Nov 7, 2026).
Does Primoris Services Corporation pay a dividend?
Primoris Services Corporation currently shows a dividend yield of 0.49% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Primoris Services Corporation (PRIM) and when is the ex-dividend date?
Primoris Services Corporation pays a dividend of $0.32 per share a year, a dividend yield of 0.5%. The next ex-dividend date is Dec 31, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 18.1% of earnings. Free cash flow covers the dividend 20.26 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Primoris Services Corporation (PRIM)?
For today's price to be fair in a discounted-cash-flow model, Primoris Services Corporation would have to grow free cash flow by -0.5 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of PRIM use?
Our models discount Primoris Services Corporation at 10.8 %: a base by market capitalisation (mid), damped by beta 1.43, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Primoris Services Corporation that is -0.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has Primoris Services Corporation (PRIM) delivered so far?
Over the past 5 years revenue at Primoris Services Corporation grew +16.8 % a year. The price currently implies free-cash-flow growth of -0.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Primoris Services Corporation (PRIM) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Primoris Services Corporation (-0.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Primoris Services Corporation (PRIM)?
The free-cash-flow yield on the price is 9.64 %: that much free cash flow Primoris Services Corporation produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Primoris Services Corporation (PRIM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Primoris Services Corporation it is $111.81 per share (as of Nov 7, 2026), against a price of $65.40. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Primoris Services Corporation stock overvalued or undervalued in 2026?
As of Nov 7, 2026, PRIM trades below its calculated fair value: price $65.40, fair value $111.81, a gap of about +71% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PRIM?
No. The price is what the market pays today ($65.40); the fair value is what the company's own numbers justify ($111.81). For Primoris Services Corporation the two are $46.41 per share apart. That gap is exactly why we show both numbers side by side.
How much is Primoris Services Corporation worth?
The market values Primoris Services Corporation at about $3.5B (market capitalisation, as of Nov 7, 2026). Per share that is $65.40; our models calculate a fair value of $111.81 per share.
What do the bullish and bearish scenarios say about PRIM?
Our models span a range for Primoris Services Corporation: cautious scenario $79.63, base $111.81, optimistic $145.35 per share (as of Nov 7, 2026, price $65.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PRIM?
Primoris Services Corporation trades at a price-to-earnings ratio of 36.9 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $111.81 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 7 of the years ex one-offs: 13.6. Other multiples: PEG 1.2, P/B 2.1, P/S 0.5, EV/EBITDA 11.7.
What is the PEG ratio of PRIM?
The PEG ratio of Primoris Services Corporation is 1.22 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Primoris Services Corporation (PRIM)?
Balance-sheet figures for Primoris Services Corporation (as of Nov 7, 2026): return on equity 6.1%, debt of 0.24 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is PRIM from its 52-week high?
Primoris Services Corporation trades at $65.40, about 68% below its 52-week high of $202.53 and 10% above the low of $59.56 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $111.81 is for.
Which stocks are comparable to Primoris Services Corporation?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Primoris Services Corporation stock attractive at the current price?
The data as of Nov 7, 2026: price $65.40, calculated fair value $111.81 (+71%), Quality Score 64/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PRIM calculated?
We run Primoris Services Corporation through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $111.81 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Primoris Services Corporation currently trades 42% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Primoris Services Corporation (PRIM)?
The closing price on Nov 6, 2026 was $65.40. Our model-based fair value is $111.81, about +71% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Primoris Services Corporation right now?
The price is below even our cautious bear case ($79.63). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($79.63 to $145.35) leaves room in how you read the outcome.
Where does the earnings growth of Primoris Services Corporation (PRIM) come from?
Earnings per share at Primoris Services Corporation grew +17.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.4 %, EBIT margin +3.1 %, tax rate +1.9 %, residual (interest, one-offs) −1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Primoris Services Corporation
How large is the market capitalisation of Primoris Services Corporation (PRIM)?
The market capitalisation of Primoris Services Corporation is $3.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Primoris Services Corporation (PRIM)?
The price-to-sales ratio of Primoris Services Corporation is 0.50 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Primoris Services Corporation (PRIM)?
Earnings per share at Primoris Services Corporation are $1.77 (price ÷ EPS = P/E 36.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Primoris Services Corporation (PRIM)?
The dividend yield of Primoris Services Corporation is 0.5% (payout 18.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Primoris Services Corporation (PRIM)?
The net margin of Primoris Services Corporation is 1.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Primoris Services Corporation (PRIM)?
The return on equity (ROE) of Primoris Services Corporation is 6.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Primoris Services Corporation (PRIM)?
On an EBIT basis the return on assets of Primoris Services Corporation is 7.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Primoris Services Corporation (PRIM)?
The operating margin of Primoris Services Corporation is 4.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Primoris Services Corporation (PRIM)?
Revenue at Primoris Services Corporation is growing −10.4% versus a year earlier (3y avg +19.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Primoris Services Corporation (PRIM)?
Earnings per share at Primoris Services Corporation are growing −45.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Primoris Services Corporation (PRIM) carry?
The net debt of Primoris Services Corporation is $735M (fiscal year 2025, ≈ 2.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026