Centuri Holdings, Inc.

CTRI · Utilities · Utilities - Regulated Gas · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

-11.22M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

876.40M USD

15 years of cash the shareholders can take out, and the equity left at year 15

Profit is over 3× the larger of EPV and FCFF

FCFF

148.21M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

337.79M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.95B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.17×

the ratio the screener ranks by

Margin of Safety

-478.0%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: -11.22M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)842.43M USD
−②Net Debt Today889.65M USD
+③Growth Value36.00M USD
=Value-11.22M USD

EPV of the Operations (NOPAT over WACC)

842.43M USD

Net debt today

-889.65M USD

Growth Value

+36.00M USD

Value

-11.22M USD

①EPV (Earnings Power Value)

842.43M USD

②Net Debt Today

889.65M USD

③Growth Value

36.00M USD

Market value

Market Cap1.95B USD

The price on the date above times the shares.

Value vs market

Margin of Safety—

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 876.40M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 876.40M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap1.95B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-122.8%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 148.21M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF583.23M USD
+②Invested Capital at Year 15, Today454.63M USD
−③Net Debt Today889.65M USD
=Value148.21M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment rising to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

583.23M USD

②Invested Capital at Year 15, Today

454.63M USD

③Net Debt Today

889.65M USD

Market value

Market Cap1.95B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-1217.5%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.20%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.01×Market Risk Premium 6.00%= 10.57%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC 25.00% (default): the statements print a tax provision of -8.07M USD on a pretax income of 14.60M USD, which gives no rate between 0 and the profit before tax, so the 25% default stands for the tax the interest saves.

Interest Expense =EBIT 93.11M USD−Pretax Income 14.60M USD= 78.51M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 78.51M USDTotal Debt 930.15M USD×(1 − Tax Rate for WACC 25.00%)= 6.33%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 930.15M USDMarket Cap + Total Debt 1.95B USD + 930.15M USD= 32.27%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 67.73%×Cost of Equity 10.57%+Debt Weight 32.27%×Cost of Debt 6.33%= 9.20%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 2.41B USD − Total Liabilities 1.53B USD = Book Value Today 876.40M USD

Total Debt 930.15M USD − Cash and Short-Term Investments 40.50M USD = Net Debt Today 889.65M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 116.5%at most 5%does not pass100,956,691 / 86,657,521
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets2.3%at least -10.0%passes(78.20M USD − 22.42M USD) ÷ 2.41B USD
Price to bookMarket Cap ÷ Book Value Today2.23×at most 3×passes1.95B USD ÷ 876.40M USD
Operating marginOperating Income ÷ Revenue3.1%above 10.0%does not pass92.91M USD ÷ 2.99B USD
Revenue growthRevenue ÷ Revenue a Year Before − 113.1%above 10.0%passes2.99B USD / 2.64B USD
Net cash(Cash − Total Debt) ÷ Market Cap-45.6%above -30%does not pass(40.50M USD − 930.15M USD) ÷ 1.95B USD
Operating efficiencyOperating Income ÷ Gross Profit37.6%above 25.0%passes92.91M USD ÷ 246.81M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

19.34 USD

Enterprise value

2.87B USD

the provider's own figure

EV / EBITDA

11.81×

Price / book

2.24×

the provider's book

Price / earnings

58.55×

Return on equity

4.0%

the provider's figure, not this page's

Profit margin

0.9%

Revenue growth

32.9%

Analyst target, mean

28.36 USD

Analysts

6

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

2.76B2.90B2.64B2.99B

Gross profit

214.83M273.72M220.89M246.81M

Operating income

75.73M136.56M86.87M92.91M

EBITDA

operating income before depreciation and amortisation

67.57M85.40M243.43M254.48M

Pretax income

-163.85M-175.15M-3.36M14.60M

Net income

-168.31M-186.36M-6.73M22.42M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-36.73M-27.36M-6.73M22.42M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

2.46B2.19B2.08B2.41B

Total liabilities

1.91B1.87B1.52B1.53B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

387.14M226.22M556.11M873.84M

Total debt

1.34B1.31B1.01B939.05M

Cash and equivalents

64.03M33.44M49.07M126.76M

Net PP&E

fixed assets after depreciation

686.14M708.12M649.89M668.40M

Working capital

current assets less current liabilities

308.21M262.58M219.27M385.37M
Cash flow (USD)2022202320242025

Operating cash flow

94.72M167.63M158.39M78.20M

Capital expenditure

paid out, so below zero

-129.72M-106.76M-99.43M-86.41M

Depreciation and amortisation

169.99M162.98M156.18M161.37M

Free cash flow

operating cash flow plus capital expenditure

-35.00M60.88M58.96M-8.21M