FIX vs PWR: Comfort Systems USA and Quanta Services compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Quanta Services is the larger company, worth $97.8B, about 1.7 times Comfort Systems USA.
- Comfort Systems USA grew revenue faster over the last year (+50.3% vs +41.1%).
- Comfort Systems USA keeps more of each dollar of revenue as operating profit (18.8% vs 6.2%).
- On earnings, Comfort Systems USA is the cheaper stock (48.5x vs 89.5x).
- Quanta Services's price assumes faster free cash flow growth: about 20% a year, against 19% for Comfort Systems USA (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | FIX | PWR |
|---|---|---|
| Market cap | $59.2B | $97.8B |
| Share price | $1,715.69 | $705.94 |
| Revenue (last fiscal year) | $1.8B | $28.5B |
| Free cash flow (last fiscal year) | $1.0B | $1.6B |
| Revenue growth, last year | +50.3% | +41.1% |
| Revenue growth per year, last 5 fiscal years | -12.1% | +21.7% |
| Operating margin | 18.8% | 6.2% |
| Net margin | 36.2% | 4.0% |
| Return on equity | 44.6% | 13.8% |
| P/E (trailing) | 48.5x | 89.5x |
| Price / free cash flow | 57.3x | 60.3x |
| EV / EBITDA | 70.5x | 33.7x |
| FCF growth the price implies | 18.8% | 19.5% |
| Dividend yield | 0.13% | 0.07% |
| Debt / equity | 1.64x | 1.92x |
| Fundamental grade | C | C |
| Superinvestors holding it | 5 | 6 |
| Insider purchases, last 12 months | 2 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Comfort Systems USA
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.1B | $158M | 6.1% |
| 2022 | $4.1B | $253M | 6.1% |
| 2023 | $5.2B | $545M | 8.0% |
| 2024 | $7.0B | $738M | 10.7% |
| 2025 | $1.8B | $1.0B | 11.4% |
Quanta Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.0B | $197M | 5.1% |
| 2022 | $17.1B | $703M | 5.1% |
| 2023 | $20.9B | $1.1B | 5.4% |
| 2024 | $23.7B | $1.5B | 5.7% |
| 2025 | $28.5B | $1.6B | 5.7% |
Where the revenue comes from
Comfort Systems USA · by segments, 2025
New Construction$5.8B63%
Existing Building Construction$2.1B23%
Service Calls, Maintenance and Monitoring$662M7%
Service Projects$569M6%
Quanta Services · by segments, 2025
Electric$23.0B81%
Underground and Infrastructure$5.5B19%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FIX in InvestinglyQuestions
Which is bigger, Comfort Systems USA or Quanta Services?
Quanta Services (PWR), at $97.8B against $59.2B.
Is FIX or PWR cheaper?
By trailing P/E, Comfort Systems USA (48.5x) is cheaper than Quanta Services (89.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, FIX or PWR?
Comfort Systems USA: revenue grew +50.3% over the last year, against +41.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.