QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...

500 Index (the S&P 500 Index) and a peer group selected by our management that includes public companies
within our industry. The companies in the peer group were selected because they comprise a broad group of
publicly held corporations, each of which has some operations similar to ours. The current peer group (the 2011
Peer Group) includes Chicago Bridge & Iron Company N.V., Dycom Industries, Inc., EMCOR Group Inc., Fluor
Corporation, Jacobs Engineering Group Inc., MasTec, Inc., MYR Group Inc., Pike Electric Corporation, The
Shaw Group, Inc., URS Corp. and Willbros Group, Inc. The peer group used in the previous year (the 2010 Peer
Group) included each of the foregoing companies as well as Comfort Systems USA Inc. The shift to the 2011
Peer Group was based on our decision to focus the comparison on companies that are similar to us in market
capitalization and lines of business and for consistency with other comparisons, as management and the Board
utilize the 2011 Peer Group when evaluating various aspects of our business.
The graph below assumes an investment of $100 (with reinvestment of all dividends) in our common stock,
the S&P 500 Index and each of the peer groups on December 31, 2006 and tracks their relative performance
through December 31, 2011. MYR Group Inc. completed its initial public offering on August 12, 2008, and
accordingly, the performance graph below assumes $100 was invested in MYR Group Inc. in 2008. The returns
of each company in the peer group are weighted based on the market capitalization of each constituent company
at the beginning of the measurement period. The stock price performance reflected on the following graph is not
necessarily indicative of future stock price performance.
$200
$150
$100
$50
$0
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
Among Quanta Services, Inc., the S&P 500 Index,
2010 Peer Group and 2011 Peer Group
12/06 12/07 12/08 12/09 12/10 12/11
Quanta Services, Inc. S&P 500 2010 Peer Group 2011 Peer Group
12/06 12/07 12/08 12/09 12/10 12/11
Quanta Services, Inc. $100.00 133.40 100.66 105.95 101.27 109.51
S&P 500 $100.00 105.49 66.46 84.05 96.71 98.75
2010 Peer Group $100.00 175.61 91.13 97.28 122.85 106.65
2011 Peer Group $100.00 177.19 91.26 97.24 123.12 106.96
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