Quanta Services Is Down 12%. What History Says.

Quanta Services Is Down 12% in 35 Days. What History Says.

Quanta Services, Inc. (PWR) is down 12% from its all-time high as of June 26, 2026, and has been falling for 35 days. The Drawdown Severity Score™ stands at 2.4, placing it in the Moderately Elevated yellow zone. In 19 comparable prior drops of this depth, the stock took an average of 474 days to recover.

The Transition from Green to Yellow Zone

As of June 26, 2026, the Drawdown Severity Score™ for Quanta Services, Inc. (PWR) has reached 2.4. This score places the stock in the Moderately Elevated yellow zone, marking a clear shift from its previous position in the green zone. The transition occurred as the stock price declined to $687.87, representing a -12.4% drawdown from its all-time high of $785.24.

The green zone typically reflects standard, routine market fluctuations that do not threaten the medium-term price trend. Entering the yellow zone indicates that the selling pressure has exceeded normal boundaries. Our data shows that this shift has developed over a period of 35 days, starting from the stock's peak.

A severity score of 2.4 indicates that while the decline is notable, it has not yet reached the severe levels associated with the red zone. However, crossing this threshold suggests that the risk profile of the asset has changed. Investors tracking the asset should note that this is no longer a minor intraday pullback.

Historical Context of Quanta Services Drawdowns

To understand the significance of the current -12.4% drawdown, we must examine the historical behavior of Quanta Services. Since 2006, our database has tracked a total of 124 drawdown events for this stock. Across all of these historical events, the average maximum drawdown was -5.7%.

The current decline of -12.4% is more than double the historical average depth. This deviation highlights why the current pullback is classified as Moderately Elevated. Most drawdowns for this asset are resolved quickly and do not reach double-digit percentages.

The average duration for all 124 historical drawdowns is 80 days. This duration measures the entire cycle from the peak, through the trough, and back to a new high. At 35 days into the current drawdown, the stock is still well below the historical average duration for all pullbacks.

Analyzing the 10% Drawdown Threshold

While the average drawdown is -5.7%, deeper pullbacks are a distinct category. Our data shows that Quanta Services has dropped 10% or more from its peak 19 times in its trading history.

These 19 events represent a more severe class of market corrections for the stock. When the stock breaches the 10% threshold, the recovery timeline extends dramatically. The average duration of these comparable drops is 474 days, which is significantly longer than the general average of 80 days.

The current drawdown of -12.4% has officially entered this historical category. This means that based on historical patterns, the stock has entered a phase that typically takes over a year to fully resolve. Below is a detailed breakdown of how the current drawdown metrics compare to these historical benchmarks.

Valuation Context in Historical Perspective

As of 2026-06-25, our valuation data shows a stark contrast between the stock's price drawdown and its historical multiples. The Price-to-Sales ratio (P/S) stands at 3.6, placing it in the 99th percentile of its own daily history since 2006-06-26, well above the historical median of 1.1. Similarly, the EV-to-EBITDA ratio (EV/EBITDA) is 46.9, which also ranks in the 99th percentile of its daily historical record since 2006-06-26, compared to a historical median of 11.9.

This valuation context indicates that despite the -12.4% decline in share price, the stock's multiples remain exceptionally high relative to its own historical standards. Historically, when a drawdown occurs while multiples are in the 99th percentile, the asset is trading at a premium compared to its typical historical pricing. This relationship suggests that the current price correction has not yet reverted the stock's valuation multiples to their historical medians.

Understanding where these multiples sit within the asset's own historical range provides essential context for evaluating the depth of the current pullback. A -12.4% price decline might appear substantial in isolation, but the underlying valuation metrics show that the stock remains highly valued compared to its twenty-year history.

Methodology and Data Limits

Our analysis relies entirely on quantitative price, drawdown, and valuation history. We do not incorporate qualitative factors, such as company management changes, industry trends, or broader macroeconomic policies. This approach ensures that our findings remain completely objective and free from speculative narratives.

Because this model is purely data-driven, it does not attempt to predict future earnings or commercial performance. The historical patterns observed in the prior 19 comparable drawdowns provide statistical context, but they do not guarantee that the current drawdown will follow an identical path. Markets evolve, and the structural conditions of the business may differ from past cycles.

By focusing strictly on the verified numbers, we provide a clear picture of where the asset stands relative to its own past. This data-only approach allows investors to assess risk based on historical probabilities rather than subjective forecasts.

Key Thresholds to Watch

To monitor the progress of this drawdown, several specific markers deserve attention. The first is the -15% drawdown level, which corresponds to a stock price of $667.45. If the stock falls to this price, the severity score will likely increase, signaling a deeper shift into the yellow zone.

Another key level is the -20% drawdown mark, which would place the stock at $628.19. A decline of this magnitude would represent a major correction, likely pushing the severity score close to the red zone. Historically, such moves have occurred during periods of broader market stress.

On the duration side, the key marker is the 80-day average for standard drawdowns and the 474-day average for deep drawdowns. If the stock stabilizes and begins a sustained recovery before the 80-day mark, it would represent a stronger-than-average performance. Conversely, if the drawdown extends beyond 474 days, it would align with the longer-term recovery cycles seen in the stock's most severe historical pullbacks.

We will continue to track these metrics daily. Any shift in the severity score or zone status will be updated immediately in our database.