{
 "ticker": "PWR",
 "name": "Quanta Services",
 "url": "https://grantbishop.pages.dev/index/PWR",
 "sells": "Quanta Services builds and maintains the power transmission lines, substations and grid connections that carry electricity to data centers and other large computing facilities.",
 "why": "We follow it because its business sits among the companies that build the infrastructure the AI build-out needs.",
 "questions": [
  {
   "slug": "data-centers",
   "question": "Who builds and equips the data centers?",
   "url": "https://grantbishop.pages.dev/index/q/data-centers"
  }
 ],
 "tests": [
  {
   "id": "W-3",
   "claim": "Spare rented computing capacity moves work around; it does not cancel new power and cooling construction, which follows capital spending, not chip scarcity.",
   "url": "https://grantbishop.pages.dev/claims/spare-compute-does-not-stop-power-building"
  },
  {
   "id": "W-2",
   "claim": "The summer sell-offs on beat-and-raise reports are the market paying less for earnings, not the businesses failing. They reverse when the price of money stops rising.",
   "url": "https://grantbishop.pages.dev/claims/market-pays-less-for-earnings"
  }
 ],
 "reports_next": null,
 "latest_disclosed": {
  "form": "10-Q",
  "filed": "2026-07-30",
  "period": "2026-06-30",
  "url": "https://www.sec.gov/Archives/edgar/data/1050915/000105091526000025/pwr-20260630.htm"
 },
 "disclosed": [
  {
   "date": "2026-10-29",
   "figure": "$63.7 billion",
   "what": "Quanta Services record backlog $63.7 billion",
   "source": "https://www.sec.gov/Archives/edgar/data/1050915/000119312526436949/d77812dex991.htm"
  }
 ],
 "check": "Checked against the company's own business description in its latest annual filing.",
 "log": [
  {
   "date": "2026-10-19",
   "note": "Entry rewritten in plain words: what the company sells, and why we follow it."
  },
  {
   "date": "2026-10-12",
   "note": "Verified against the 10-Q filed 2026-07-30 at launch."
  }
 ],
 "living_report": {
  "report": false,
  "last_revised": null,
  "next_disclosure": null,
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   },
   {
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    "filed": "2026-09-15",
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    "period": "2026-05-21",
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  ],
  "history": []
 },
 "market": {
  "rule": "Each figure is kept only where Massive and Yahoo agree on it to the cent; a figure they do not agree on is null. Dated, not live. The market value and the forward multiple are computed from the close.",
  "last_close": {
   "value": 591.48,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
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  "day_range": null,
  "range_52_week": {
   "low": 408.36,
   "low_date": "2026-01-08",
   "high": 788.75,
   "high_date": "2026-05-06",
   "sessions": 251,
   "currency": "USD",
   "as_of": "2026-11-09",
   "providers": [
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    "Yahoo"
   ]
  },
  "market_value": {
   "value": 89122517725,
   "currency": "USD",
   "as_of": "2026-11-09",
   "computed": "the last close times the shares outstanding on the filing cover",
   "shares": {
    "count": 150677145,
    "as_of": "2026-10-26",
    "form": "10-Q",
    "filed": "2026-10-29",
    "url": "https://www.sec.gov/Archives/edgar/data/1050915/000105091526000041/"
   }
  },
  "forward_multiple": null,
  "checked_at": "2026-11-10 08:45:40"
 },
 "exhibits": null,
 "mentions": [
  {
   "date": "2026-10-31",
   "slug": "worst-week-technology-shares-since-june",
   "headline": "Technology's bad week fell on the spenders, not the builders",
   "url": "https://grantbishop.pages.dev/pieces/worst-week-technology-shares-since-june",
   "line": null,
   "idea": {
    "id": "W-6",
    "text": null,
    "url": "https://grantbishop.pages.dev/claims/ai-spending-ahead-of-revenue"
   }
  }
 ],
 "note": "Prices on this page are dated market records, shown free during the preview, each confirmed by two independent data providers. None is a recommendation.",
 "license": "Free to cite with a link."
}