Primoris Services Corp. (PRIM) intrinsic value & 10-year financials
Primoris Services Corp. (PRIM) has a Graham intrinsic value of $166.74 per share. At $73.21 on Oct 17, 2026, the stock trades 56% below that value. Over the last 10 fiscal years revenue grew 16.0% a year to $7.6B, with an average return on invested capital of 10.7%.
- Graham intrinsic value
- $166.74
- Share price (Oct 17, 2026)
- $73.21
- Price vs Graham value
- 56% below
- Market cap
- $4.0B
- Revenue (FY2025)
- $7.6B
- Revenue growth (10-yr CAGR)
- 16.0%
- ROIC (10-yr avg)
- 10.7%
- Free cash flow (FY2025)
- $340.5M
PRIM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.6B | $274.9M | $5.02 | $340.5M | 5.4% | 14.9% |
| FY2024 | $6.4B | $180.9M | $3.31 | $381.8M | 5.0% | 10.6% |
| FY2023 | $5.7B | $126.1M | $2.33 | $95.5M | 4.4% | 8.2% |
| FY2022 | $4.4B | $133.0M | $2.47 | -$11.3M | 4.4% | 8.9% |
| FY2021 | $3.5B | $115.6M | $2.17 | -$54.1M | 4.9% | 10.8% |
| FY2020 | $3.5B | $105.0M | $2.16 | $247.6M | 4.7% | 12.6% |
| FY2019 | $3.1B | $82.3M | $1.61 | $23.5M | 4.5% | 10.8% |
| FY2018 | $2.9B | $77.5M | $1.50 | $16.6M | 4.4% | 13.3% |
| FY2017 | $2.4B | $72.4M | $1.40 | $109.2M | 4.5% | 12.0% |
| FY2016 | $2.0B | $26.7M | $0.51 | $4.5M | 2.9% | 5.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Primoris Services Corp is a consistent compounder, expanding top-line revenue at 16.0% annually over the past decade.
Primoris Services Corp returns on capital have been average, hovering around 10.7% ROIC over the decade.
Over the decade, Primoris Services Corp shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Primoris Services Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $166.74 per share.