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Centuri Holdings (CTRI) Fair Value & Analysis

Utilities · US · Market cap $2.7B

CH Centuri Holdings logo Centuri Holdings CTRI · US
Price$23.85
Fair Value$4.66
Upside-80.5%
Quality39/100
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Expensive Growth
Thin margins · 1.0% net margin
Moderate debt · negative free cash flow
Trails peers (4/13)
Narrow moat 24/100
Evidence: High Range $3.49 – $5.82 Share as image

Fair value as of: Jul 15, 2026

From 15 valuation models · updated 25 days ago

Fair value updated Jul 15, 2026, revised from $5.79 to $4.66 (−19.5%) since Jun 24, 2026. Share price −9.3% over the past month.

Below-average quality, and screening another 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($5.82). 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.
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Price vs Fair Value (2 years)

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

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

28‑month range $14.92 – $41.80 · fair‑value band $3.49 – $5.82 · the $23.85 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 Jul 15, 2026.

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Analysis

Centuri Holdings (CTRI) currently trades at $23.85, while our model-based Fair Value estimate is $4.66, implying the stock looks roughly 80.5% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Centuri Holdings 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 Jul 15, 2026

Our scenario range runs from $3.49 (bear case) to $5.82 (bull case); at $23.85, 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 45% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at -80%, CTRI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income $6.09 $5.81 $4.66 76
ROIC Compounder $1.76 $2.95 $3.98 72
Growth-Adj P/E $2.93 $4.19 $5.45 68
All 15 models by family
DCF Models
Owner Earnings $4.76 $10.48 $18.95 31
Earnings-Based
Graham-Dodd $1.51 $4.90 $6.54 54
Lynch FV $1.09 $1.56 $2.03 50
PEG = 1.0 $1.09 $1.56 $2.03 46
EPV $1.76 $2.95 $3.98 59
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 53
EV/EBITDA $18.78 $26.96 $35.14 54
EV/Revenue $2.61 $6.19 $9.78 43
Asset-Based
NCAV (Graham) $4.32 $5.79 $8.65 50
Economic Profit
Residual Income $6.09 $5.81 $4.66 76
ROIC Compounder $1.76 $2.95 $3.98 72
Growth Earnings
Growth-Adj P/E $2.93 $4.19 $5.45 68

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

Key figures & financial health

Revenue (TTM) $3.2B
Revenue growth (YoY) +31.5%
Net margin 1.0%
Return on equity 4.4%
Free cash flow −$8.2M FY2025
P/E ratio 73.0
More key figures
Operating margin -0.7%
EPS (TTM) $0.3600
EPS growth (YoY) +175%
Net debt $195M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 31

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 26
Price trend over the last 3–12 months (market factor)
52W Momentum 34
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.

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 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. growth/yr (3Y)
+1.5%
Avg. growth/yr (5Y)
+8.2%
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 80% overvalued. Compare with Naturgy Energy Group →

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Cite: Fair Value Calculator (2026). "Centuri Holdings 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 · 104 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 −81% · Bottom 25%
Return on equity (TTM) 4% · Bottom 25%
Return on assets 3% · Above median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 32% · Top 25%
Debt / equity 0.81× · Higher than median

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

P/E (TTM) 73.0× · 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

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.

VALUE 0 · sector 22
FUTURE 100 · sector 0
PAST 18 · sector 34
HEALTH 59 · sector 85
DIVIDEND 0 · sector 67

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.84 €35.80 +24%
Atmos Energy Corporation ATO $177.68 $85.67 -52%
NiSource Inc NI $47.07 $28.59 -39%
Uniper SE UN0 €42.80 €49.13 +15%
The Hong Kong and China Gas Company 0003 HK$7.03 HK$5.08 -28%
Italgas S.p.A IG €9.98 €8.11 -19%
GAIL (India) Limited GAIL ₹171.71 ₹147.74 -14%
Adani Total Gas Limited ATGL ₹723.90 ₹101.36 -86%
ENN Natural Gas Co 600803 ¥17.30 ¥25.71 +49%
UGI Corporation UGI $35.84 $27.13 -24%

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Frequently asked questions

Is Centuri Holdings (CTRI) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $4.66 versus a price of $23.85, about −80% (overvalued).
What is the fair value of CTRI?
Our model-based fair value for Centuri Holdings is $4.66 (as of Jul 15, 2026), built from audited fundamentals. The current price is $23.85.
What is the quality score of CTRI?
Centuri Holdings 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 (CTRI)?
Centuri Holdings reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CTRI?
The net profit margin of Centuri Holdings is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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