Credit and interest ratesnegative · 1 filings
“The decrease of $36.6 million was due to lower average debt balances and lower average interest rates.”10-K · Feb 24, 2026 ↗
Primoris Services Corporation
PRIM
Market read
Primoris Services Corporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 14 directly disclosed connections are confirming.
Company-1.1% todayVolume comparison unavailable
Market group0 of 12 activeEquity Risk · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Interest expense, net decreased $3.2M YoY to $4.6M for the quarter, attributed to lower average debt balances; company debt bears variable rates.
Invalidation: The isolated read changes if PRIM's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 14 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Interest expense, net decreased $3.2M YoY to $4.6M for the quarter, attributed to lower average debt balances; company debt bears variable rates.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements76
Verified relationships14
Evidence supporting the case
- Latest annual revenue changed +19.0% year over year.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
- P/E is 72% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 79% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
73.036m-45.3%12m-35.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.5B+0.2%$2.17+9.3%
2022-12-31$4.4B+26.4%$2.47+1.1%
2023-12-31$5.7B+29.3%$2.33+0.8%
2024-12-31$6.4B+11.4%$3.31+0.7%
2025-12-31$7.6B+19.0%$5.02+0.4%
What management says matters
Persistent and emerging business drivers
Demand and volumepositive · 1 filings
“When consolidation occurs, we account for the interests of the other parties as a noncontrolling interest and disclose the net income attributable to noncontrolling interests.”10-K · Feb 24, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.5× · EV/sales 0.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
73.03-1.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for PRIM. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for PRIM. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind PRIM
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
XEL32.0% of PRIMcustomerFeb 24, 2026 ▾
“For the years ended December 31, 2025, 2024 and 2023, revenue derived from projects performed under MSAs was 32.0%, 36.8%, and 36.7% of total revenue, respectively.”
CMS-PBFiling-linked namecustomerFeb 24, 2026 ▾
“For the years ended December 31, 2025, 2024 and 2023, revenue derived from projects performed under MSAs was 32.0%, 36.8%, and 36.7% of total revenue, respectively.”
Depended on by
CTRICenturi Holdings, Inc.competitorFeb 26, 2026 ▾
“These competitors include Quanta Services, Inc., MYR Group, Mastec, Inc., Primoris Services Corporation and Everus Construction Group, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 17 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
PRIM is currently a Follower in the organic co-movement group Equity Risk. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for PRIM; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.