# Centuri Holdings (CTRI.US)

Canonical: https://gigainvestors.com/s/CTRI

Analysis as of: 2026-10-16T07:27:48.792Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $19.76 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Carl Icahn](https://gigainvestors.com/ic): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 47% since Apr 2026 · "Centuri’s Backlog Is Booming, But Its Debt and Valuation Still Loom Large" (finance.yahoo.com, Mar 2026)

Story as of 2026-10-16T09:58:35.409Z; price observation 2026-10-15.

- 2025-12-11: Centuri Secures Nearly $500 Million in New Commercial Awards Across North America ([finance.yahoo.com](https://finance.yahoo.com/news/centuri-secures-nearly-500-million-130000980.html))

- 2026-01-06: Centuri Secures More Than $870 Million in New Commercial Awards Across North America ([finance.yahoo.com](https://finance.yahoo.com/news/centuri-secures-more-870-million-130000835.html))

- 2026-02-11: Centuri Holdings (CTRI) Is Up 6.7% After Securing Over $1 Billion In 2026 Bookings ([finance.yahoo.com](https://finance.yahoo.com/news/centuri-holdings-ctri-6-7-180945643.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in utilities regulated gas; annual sales are USD 2.9 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1981599/000198159926000020/ctri-20251228.htm (filed 2026-02-26); FY2025: revenue 2885193000; grossProfit 246566000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); CTRI.US: Centuri Holdings, Inc. operates as a utility infrastructure services company in North America. It operates through four segments: U.S. Gas Utility Services; Canadian Operations; Union Electric Utility Services; and Non-Union Electric Utility Services. The company offers gas utility services, including maintenance, replacement, repair, and installation for local natural gas distribution utilities focused on the modernization of customers' infrastructure. It also provides electric utility services encompassing maintenance, replacement, repair, upgrade, and expansion services for urban transmission and local distribution infrastructure, as well as corporate and non-allocated transactions. The company customers include electric, gas, and combination utility providers, as well as serves end markets, such as distributed power projects, and data centers. The company was founded in 1909 and is headquartered in Phoenix, Arizona.

### Why customers stay

Margins ranged from 8.4% to 9.4% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2023: grossProfit / revenue = 9.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: grossProfit / revenue = 8.4%.

- Source: https://www.sec.gov/Archives/edgar/data/1981599/000198159926000020/ctri-20251228.htm (filed 2026-02-26); FY2025: grossProfit / revenue = 8.5%.

### Where the cash goes

Reinvests 47.1% of cash earnings; paid dividends in 3 of 6 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2020: growth capex 0; upkeep 132889000; owner earnings 38735000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2021: growth capex 0; upkeep 110417000; owner earnings 59617000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: growth capex 0; upkeep 99333000; cash acquisitions 0; owner earnings 49970000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1981599/000198159926000020/ctri-20251228.htm (filed 2026-02-26); FY2025: growth capex 0; upkeep 86325000; cash acquisitions 45832000; owner earnings 97282000. Growth capex plus acquisitions / owner earnings = 0.4711251824592422.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Dividend observations: [[2020,26000000],[2021,31000000],[2022,15000000],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 0.6% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); CTRI.US SharesStats.PercentInsiders = 0.623 percentage points; cache date 2026-10-15.

### What the price says

The price is 0.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Closing price 19.76 USD; reporting-to-trading FX 1; FY2025 annual sales per share 31.952965280469574; price multiple 0.6184089591233585. FY2025 cash earnings/share 1.0773796998726397. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2024-04: $24.75 per share

- 2024-05: $27.45 per share

- 2024-06: $19.48 per share

- 2024-07: $16.51 per share

- 2024-08: $17.10 per share

- 2024-09: $16.15 per share

- 2024-10: $18.77 per share

- 2024-11: $19.81 per share

- 2024-12: $19.31 per share

- 2025-01: $22.28 per share

- 2025-02: $17.35 per share

- 2025-03: $16.39 per share

- 2025-04: $17.96 per share

- 2025-05: $20.88 per share

- 2025-06: $22.44 per share

- 2025-07: $21.80 per share

- 2025-08: $21.24 per share

- 2025-09: $21.17 per share

- 2025-10: $20.19 per share

- 2025-11: $22.49 per share

- 2025-12: $25.25 per share

- 2026-01: $27.60 per share

- 2026-02: $31.00 per share

- 2026-03: $29.21 per share

- 2026-04: $37.60 per share

- 2026-05: $30.74 per share

- 2026-06: $30.24 per share

- 2026-07: $27.84 per share

- 2026-08: $20.41 per share

- 2026-09: $20.04 per share

- 2026-10: $19.76 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1981599/000198159926000020/ctri-20251228.htm); period 2025-12-28, filed 2026-02-26.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.