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Centuri Holdings, Inc. (CTRI) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Centuri Holdings, Inc. $4.66, price $20.17, upside -76.9%, quality 39 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Utilities · US · ISIN US1559231055

CH Centuri Holdings, Inc. logo Some data Sep 24, 2026

Centuri Holdings, Inc.

CTRI · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $4.66 · Strongly overvalued (−77%)
!Quality 39/100
!Expensive Growth (revenue 5y +8.2 %/yr)
!Thin margins · 1.0% net margin (TTM)
!Moderate debt · negative free cash flow
!Trails peers (4/13)
!Narrow moat 24/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 out of 100

What runs behind every stock

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Price vs Fair Value

$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 Sep 24, 2026.

How to read this chart

29‑month range $14.92 – $41.80 · fair‑value band $2.93 – $5.82 · the $20.17 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 Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

Centuri Holdings, Inc. (CTRI) currently trades at $20.17, while our model-based Fair Value estimate is $4.66, implying the stock looks roughly 332.9% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $22.26 per share, and 2 of the 15 models we run sit above the $20.17 price.

Bear case: the Earnings-Based group reads lowest at $1.56, and 13 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: $2.93 (bear) to $5.82 (bull), the price of $20.17 sits above 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 39/100 (below-average quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

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.

Key figures

Market cap $2.7B · P/E ratio 56.0 · P/S ratio 0.43 · EPS (TTM) $0.3600 · Net margin 0.8% · Return on equity 4.4% · Return on assets (EBIT) 0.8% · Operating margin −0.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 53% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −21% fair-value upside, at −77%, CTRI screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely ($1.56 to $26.96). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $2.93 Fair Value $4.66 Bull $5.82
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.2633 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. Evidence Evidence = 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.
Highest evidence
Residual Income $6.09 $5.81 $4.66 76
Owner Earnings $12.39 $22.26 $36.89 74
EPV $1.76 $2.95 $3.98 72
All 15 models by family
DCF Models
Owner Earnings $12.39 $22.26 $36.89 74
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 $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

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Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 20

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 12
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 38
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.4%
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.
+1.5%
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.
+8.2%
Start year 2020 (pandemic)
What shareholders gained per year (last 5 years) 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. Basis: adjusted.
−28.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.4%
Dividend (yield on the price)0.0%
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.6% → 3%

CTRI screens 333% overvalued. Compare with Naturgy Energy Group →

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Peer GroupHow 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.Utilities - Regulated Gas · 102 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Profitability
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%
Growth and dividend
Revenue growth 32% · Top 25%
Balance sheet
Debt / equity 0.81× · Above median

Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 56.0× · Priciest 25%
P/B 3.04× · Priciest 25%
P/S (TTM) 0.84× · Cheaper than median
EV/EBITDA 13.0× · Priciest 25%
PEG 1.01× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 35
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)18 · sector 35
HEALTH (low debt)59 · sector 83
DIVIDEND (yield)0 · sector 73

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

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €29.48 €32.79 +11%
Atmos Energy Corporation ATO $157.34 $77.92 −50%
NiSource Inc NI $39.88 $19.90 −50%
Uniper SE UN0 €48.45 €45.97 −5%
The Hong Kong and China Gas Company 0003 HK$7.12 HK$4.79 −33%
GAIL (India) Limited GAIL ₹171.84 ₹135.08 −21%
Italgas S.p.A IG €8.54 €9.39 +10%
UGI Corporation UGI $36.85 $32.82 −11%
Southwest Gas Holdings SWX $83.49 $57.83 −31%
New Jersey Resources Corporation NJR $52.72 $37.04 −30%

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Cite: Fair Value Calculator (2026). "Centuri Holdings, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/CTRI

Frequently asked questions

Is Centuri Holdings, Inc. (CTRI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $4.66 versus a price of $20.17, 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 Sep 24, 2026), built from audited fundamentals. The current price: $20.17.
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 price target for Centuri Holdings, Inc. (CTRI)?
Our model-based price target is the fair value of $4.66 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario $2.93, optimistic scenario $5.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Centuri Holdings, Inc. stock forecast for 2026?
Our models put fair value at $4.66, about −77% upside versus a price of $20.17 (overvalued). Cautious scenario $2.93, optimistic scenario $5.82. The calculation is refreshed regularly with new filings.
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 Sep 24, 2026).
What is the intrinsic value of Centuri Holdings, Inc. (CTRI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Centuri Holdings, Inc. it is $4.66 per share (as of Sep 24, 2026), against a price of $20.17. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Centuri Holdings, Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CTRI trades above its calculated fair value: price $20.17, fair value $4.66, a gap of about −77% (overvalued). 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 CTRI?
No. The price is what the market pays today ($20.17); the fair value is what the company's own numbers justify ($4.66). For Centuri Holdings, Inc. the two are $15.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Centuri Holdings, Inc. worth?
The market values Centuri Holdings, Inc. at about $2.7B (market capitalisation, as of Sep 24, 2026). Per share that is $20.17; our models calculate a fair value of $4.66 per share.
What do the bullish and bearish scenarios say about CTRI?
Our models span a range for Centuri Holdings, Inc.: cautious scenario $2.93, base $4.66, optimistic $5.82 per share (as of Sep 24, 2026, price $20.17). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CTRI?
Centuri Holdings, Inc. trades at a price-to-earnings ratio of 56.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $4.66 is built from several models across several years. Other multiples: PEG 1.0, P/B 3.0, P/S 0.8, EV/EBITDA 13.0.
What is the PEG ratio of CTRI?
The PEG ratio of Centuri Holdings, Inc. is 1.01 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Centuri Holdings, Inc. (CTRI)?
Balance-sheet figures for Centuri Holdings, Inc. (as of Sep 24, 2026): return on equity 4.4%, debt of 0.81 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is CTRI from its 52-week high?
Centuri Holdings, Inc. trades at $20.17, about 53% below its 52-week high of $42.99 and 6% above the low of $19.04 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $4.66 is for.
Which stocks are comparable to Centuri Holdings, Inc.?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, 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 Centuri Holdings, Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price $20.17, calculated fair value $4.66 (−77%), Quality Score 39/100, from 15 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 CTRI calculated?
We run Centuri Holdings, Inc. through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $4.66, 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 14.1 % above its aggregate fair value. Centuri Holdings, Inc. itself currently trades above fair value. 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 Centuri Holdings, Inc. (CTRI)?
The closing price on Sep 23, 2026 was $20.17. Our model-based fair value is $4.66, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Centuri Holdings, Inc. right 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. A fairly wide model range ($2.93 to $5.82) leaves room in how you read the outcome.

Key figures of Centuri Holdings, Inc.

How large is the market capitalisation of Centuri Holdings, Inc. (CTRI)?
The market capitalisation of Centuri Holdings, Inc. is $2.7B. 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 Centuri Holdings, Inc. (CTRI)?
The price-to-sales ratio of Centuri Holdings, Inc. is 0.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Centuri Holdings, Inc. (CTRI)?
Earnings per share at Centuri Holdings, Inc. are $0.3600 (price ÷ EPS = P/E 56.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Centuri Holdings, Inc. (CTRI)?
The net margin of Centuri Holdings, Inc. is 0.8% (fiscal year 2025). 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 Centuri Holdings, Inc. (CTRI)?
The return on equity (ROE) of Centuri Holdings, Inc. is 4.4% (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 Centuri Holdings, Inc. (CTRI)?
On an EBIT basis the return on assets of Centuri Holdings, Inc. is 0.8% (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 Centuri Holdings, Inc. (CTRI)?
The operating margin of Centuri Holdings, Inc. is −0.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Centuri Holdings, Inc. (CTRI)?
Revenue at Centuri Holdings, Inc. is growing +31.5% versus a year earlier (3y avg +1.5%). 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 Centuri Holdings, Inc. (CTRI)?
Earnings per share at Centuri Holdings, Inc. are growing +175% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Centuri Holdings, Inc. (CTRI) generate?
The free cash flow of Centuri Holdings, Inc. is −$8.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Centuri Holdings, Inc. (CTRI) carry?
The net debt of Centuri Holdings, Inc. is $195M (fiscal year 2025). 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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