v3.26.1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 364,761	$ 439,508
Accounts receivable, net	7,597,966	6,847,091
Contract assets	1,609,786	1,522,186
Inventories	446,891	370,372
Prepaid expenses and other current assets	633,233	724,260
Total current assets	10,652,637	9,903,417
Property and equipment, net	3,513,445	3,455,204
Operating lease right-of-use assets	404,455	400,814
Other assets, net	1,046,511	944,050
Other intangible assets, net	2,724,223	2,906,188
Goodwill	7,405,347	7,317,228
Total assets	25,746,618	24,926,901
Current Liabilities:
Current maturities of long-term debt	689,694	763,898
Current portion of operating lease liabilities	115,812	114,377
Accounts payable and accrued expenses	4,738,241	4,579,458
Contract liabilities	3,840,282	3,258,465
Total current liabilities	9,384,029	8,716,198
Long-term debt, net of current maturities	5,201,920	5,231,008
Operating lease liabilities, net of current portion	312,247	309,671
Deferred income taxes	514,859	502,626
Insurance and other non-current liabilities	1,190,646	1,139,524
Total liabilities	16,603,701	15,899,027
Commitments and Contingencies
Equity:
Common stock, $0.00001 par value, 600,000,000 shares authorized, 180,271,661 and 179,534,355 shares issued, and 150,056,336 and 149,577,564 shares outstanding	2	2
Additional paid-in capital	4,337,023	4,278,741
Retained earnings	6,877,841	6,673,990
Accumulated other comprehensive loss	(319,059)	(307,211)
Treasury stock, 30,215,325 and 29,956,791 common shares	(1,851,238)	(1,707,273)
Total stockholders’ equity	9,044,569	8,938,249
Non-controlling interests	98,348	89,625
Total equity	9,142,917	9,027,874
Total liabilities and equity	$ 25,746,618	$ 24,926,901

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

QUANTA SERVICES, INC. 10-Q