NASDAQ : MWH
SOLV Energy, Inc. — Financial statements
Industrials · Infrastructure Operations · United States
Last price 24.27 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.91B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
SOLV Energy, Inc. (MWH) reported revenue of 3.17B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 3.17B | 2.49B | 1.85B | 2.12B | 2.33B |
| Cost of Revenue | 2.62B | 2.03B | 1.59B | 2.00B | 2.23B |
| Gross Profit | 555.99M | 464.23M | 259.16M | 113.71M | 101.98M |
| Selling, General & Admin | 276.88M | 193.24M | 127.89M | 96.98M | 104.25M |
| Amortization of Goodwill & Intangibles | 62.37M | 57.75M | 66.35M | 67.05M | 79.00M |
| Operating Expenses | 339.26M | 250.99M | 194.23M | 164.03M | 183.25M |
| Operating Income | 216.74M | 213.24M | 64.93M | -50.32M | -81.27M |
| Interest Expense | -34.28M | -52.73M | -55.39M | -59.70M | -39.66M |
| Interest & Investment Income | 5.59M | 7.16M | 4.60M | 1.63M | 202.00K |
| Other Non Operating Income (Expenses) | 3.67M | 1.01M | 996.00K | 1.32M | |
| EBT Excluding Unusual Items | 191.73M | 168.68M | 15.13M | -107.07M | -120.72M |
| Gain (Loss) on Sale of Investments | -800.00K | -800.00K | |||
| Gain (Loss) on Sale of Assets | -38.00K | -38.00K | -215.00K | ||
| Other Unusual Items | -28.34M | -14.50M | -4.40M | ||
| Pretax Income | 157.31M | 153.35M | 10.52M | -107.07M | -120.72M |
| Income Tax Expense | 12.32M | 3.64M | 598.00K | 204.00K | 5.00K |
| Earnings From Continuing Operations | 144.99M | 149.70M | 9.92M | -107.27M | -120.73M |
| Minority Interest in Earnings | -25.74M | -520.00K | -2.00K | -1.00K | -1.00K |
| Net Income | 119.25M | 149.18M | 9.92M | -107.27M | -120.73M |
| Net Income to Common | 119.25M | 149.18M | 9.92M | -107.27M | -120.73M |
| Shares Outstanding (Basic) | 123.75M | 115.35M | |||
| Shares Outstanding (Diluted) | 123.75M | 115.35M | |||
| EPS (Basic) | 0.96 | 1.29 | |||
| EPS (Diluted) | 0.96 | 1.29 | |||
| Free Cash Flow | 294.79M | 310.23M | 109.04M | 35.89M | 56.67M |
| Free Cash Flow Per Share | 2.38 | 2.69 | |||
| Gross Margin | 17.51% | 18.64% | 14.03% | 5.38% | 4.38% |
| Operating Margin | 6.83% | 8.56% | 3.51% | -2.38% | -3.49% |
| Profit Margin | 3.76% | 5.99% | 0.54% | -5.07% | -5.18% |
| Free Cash Flow Margin | 9.29% | 12.46% | 5.90% | 1.70% | 2.43% |
| EBITDA | 312.51M | 298.30M | 149.30M | 30.96M | 6.56M |
| EBITDA Margin | 9.84% | 11.98% | 8.08% | 1.46% | 0.28% |
| D&A For EBITDA | 95.78M | 85.05M | 84.37M | 81.28M | 87.82M |
| EBIT | 216.74M | 213.24M | 64.93M | -50.32M | -81.27M |
| EBIT Margin | 6.83% | 8.56% | 3.51% | -2.38% | -3.49% |
| Effective Tax Rate | 7.83% | 2.38% | 5.68% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 363.97M | 394.88M | 207.99M | 178.02M | |
| Cash & Short-Term Investments | 363.97M | 394.88M | 207.99M | 178.02M | |
| Accounts Receivable | 574.29M | 425.79M | 328.16M | 412.14M | |
| Other Receivables | 2.65M | 5.97M | 9.19M | 4.59M | |
| Receivables | 576.94M | 431.76M | 337.35M | 416.73M | |
| Inventory | 23.02M | ||||
| Prepaid Expenses | 10.30M | 2.94M | 2.61M | 1.58M | |
| Other Current Assets | 100.63M | 69.71M | 40.36M | 19.71M | |
| Total Current Assets | 1.05B | 899.28M | 588.31M | 639.06M | |
| Property, Plant & Equipment | 129.37M | 114.39M | 75.65M | 70.00M | |
| Long-Term Investments | 3.75M | 3.75M | 3.00M | ||
| Goodwill | 426.61M | 429.28M | 410.01M | 410.01M | |
| Other Intangible Assets | 333.91M | 362.39M | 398.58M | 464.93M | |
| Long-Term Deferred Charges | 1.12M | 1.74M | 1.51M | ||
| Other Long-Term Assets | 8.12M | 6.05M | |||
| Total Assets | 2.13B | 1.82B | 1.48B | 1.59B | |
| Accounts Payable | 435.54M | ||||
| Accrued Expenses | 151.56M | 129.59M | 70.05M | 24.13M | |
| Current Portion of Long-Term Debt | 6.89M | 9.02M | 6.25M | 7.52M | |
| Current Portion of Leases | 16.04M | 12.98M | 9.56M | 5.77M | |
| Current Unearned Revenue | 258.25M | 308.52M | 240.38M | 169.06M | |
| Other Current Liabilities | 528.92M | 432.73M | 337.19M | 121.73M | |
| Total Current Liabilities | 961.64M | 892.84M | 663.43M | 763.74M | |
| Long-Term Debt | 17.51M | 413.31M | 378.61M | 400.71M | |
| Long-Term Leases | 43.18M | 36.56M | 28.01M | 22.23M | |
| Long-Term Deferred Tax Liabilities | 6.15M | 5.34M | |||
| Other Long-Term Liabilities | 248.80M | 13.01M | 14.53M | 7.85M | |
| Total Liabilities | 1.28B | 1.36B | 1.08B | 1.19B | |
| Common Stock | 21.00K | 550.33M | 638.26M | 645.57M | |
| Retained Earnings | 13.61M | -98.14M | -247.32M | -253.65M | |
| Total Common Equity | 496.78M | 452.19M | 390.94M | 391.93M | |
| Minority Interest | 354.39M | 3.03M | 2.51M | 2.04M | |
| Shareholders' Equity | 851.17M | 455.23M | 393.45M | 393.97M | |
| Total Liabilities & Equity | 2.13B | 1.82B | 1.48B | 1.59B | |
| Total Debt | 83.62M | 471.87M | 422.43M | 436.22M | |
| Net Cash (Debt) | 280.35M | -76.99M | -214.44M | -258.21M | |
| Net Cash Per Share | 2.27 | -0.67 | |||
| Filing Date Shares Outstanding | 123.75M | 115.35M | |||
| Total Common Shares Outstanding | 123.75M | 115.35M | |||
| Working Capital | 90.19M | 6.45M | -75.12M | -124.68M | |
| Book Value Per Share | 4.01 | 3.92 | |||
| Tangible Book Value | -263.74M | -339.47M | -417.65M | -483.01M | |
| Tangible Book Value Per Share | -2.13 | -2.94 | |||
| Buildings | 477.00K | 467.00K | |||
| Machinery | 107.42M | 92.56M | 52.91M | 51.67M | |
| Construction In Progress | 5.24M | 3.34M | 1.03M | 942.00K | |
| Leasehold Improvements | 15.52M | 15.21M | 13.88M | 8.21M | |
| Order Backlog | 8.02B | 4.28B | 4.22B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | 119.25M | 149.18M | 9.92M | -107.27M | -120.73M |
| Depreciation & Amortization | 95.78M | 85.05M | 84.37M | 81.28M | 87.82M |
| Other Amortization | 1.83M | 1.83M | 4.79M | 3.35M | 3.41M |
| Loss (Gain) From Sale of Assets | 38.00K | 38.00K | 215.00K | ||
| Asset Writedown & Restructuring Costs | 10.69M | 7.18M | 457.00K | 498.00K | |
| Loss (Gain) From Sale of Investments | -750.00K | -1.80M | |||
| Stock-Based Compensation | 105.02M | 27.33M | 8.61M | 2.38M | 2.44M |
| Provision & Write-off of Bad Debts | 437.00K | 437.00K | -2.63M | 2.23M | 745.00K |
| Other Operating Activities | 29.44M | 537.00K | 2.83M | 221.00K | 994.00K |
| Change in Accounts Receivable | -78.97M | -78.97M | 83.16M | 108.99M | -11.80M |
| Change in Accounts Payable | 109.25M | 109.25M | -96.46M | -92.70M | 283.44M |
| Change in Unearned Revenue | 66.90M | 66.90M | 24.34M | 79.51M | -211.83M |
| Change in Other Net Operating Assets | -132.83M | -37.11M | -1.24M | -26.38M | 49.44M |
| Operating Cash Flow | 326.85M | 331.64M | 117.61M | 50.29M | 83.93M |
| Capital Expenditures | -32.06M | -21.41M | -8.57M | -14.40M | -27.26M |
| Sale of Property, Plant & Equipment | 300.00K | ||||
| Cash Acquisitions | 425.00K | -55.33M | |||
| Investment in Securities | 546.00K | -816.00K | |||
| Investing Cash Flow | -31.63M | -76.74M | -8.27M | -13.86M | -28.07M |
| Long-Term Debt Issued | 47.00M | 97.25M | 151.60M | 28.00M | |
| Long-Term Debt Repaid | -19.59M | -123.64M | -154.53M | -19.73M | |
| Net Debt Issued (Repaid) | -424.97M | 27.41M | -26.39M | -2.93M | 8.27M |
| Issuance of Common Stock | 844.25M | 15.02M | |||
| Common Dividends Paid | -203.85M | -91.25M | -10.53M | ||
| Other Financing Activities | -310.10M | -4.18M | -42.46M | -31.95M | -10.15M |
| Financing Cash Flow | -94.67M | -68.01M | -79.37M | -34.88M | 13.13M |
| Net Cash Flow | 200.55M | 186.89M | 29.97M | 1.56M | 68.99M |
| Free Cash Flow | 294.79M | 310.23M | 109.04M | 35.89M | 56.67M |
| Free Cash Flow Margin | 9.29% | 12.46% | 5.90% | 1.70% | 2.43% |
| Free Cash Flow Per Share | 2.38 | 2.69 | |||
| Levered Free Cash Flow | 320.40M | 81.68M | |||
| Unlevered Free Cash Flow | 352.02M | 111.97M | |||
| Cash Interest Paid | 40.59M | 55.93M | 43.23M | 53.74M | 35.47M |
| Cash Income Tax Paid | 13.87M | 2.49M | 598.00K | 204.00K | 12.00K |
| Change in Working Capital | -35.65M | 60.06M | 9.80M | 69.42M | 109.24M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 4.93B | ||||
| Enterprise Value | 4.65B | ||||
| Debt / Equity Ratio | 0.10 | 1.04 | 1.07 | 1.11 | |
| Debt / EBITDA Ratio | 0.22 | 1.29 | 2.06 | 4.37 | |
| Debt / FCF Ratio | 0.28 | 1.52 | 3.87 | 12.15 | |
| Net Debt / Equity Ratio | -0.33 | 0.17 | 0.55 | 0.66 | |
| Net Debt / EBITDA Ratio | -0.90 | 0.26 | 1.44 | 8.34 | |
| Net Debt / FCF Ratio | -0.95 | 0.25 | 1.97 | 7.20 | |
| Asset Turnover | 1.51 | 1.21 | |||
| Quick Ratio | 0.98 | 0.93 | 0.82 | 0.78 | |
| Current Ratio | 1.09 | 1.01 | 0.89 | 0.84 | |
| Return on Equity (ROE) | 35.28% | 2.52% | |||
| Return on Assets (ROA) | 8.09% | 2.65% | |||
| Return on Invested Capital (ROIC) | 37.07% | 36.52% | 9.72% | -7.72% | |
| Return on Capital Employed (ROCE) | 18.60% | 23.10% | 8.00% | -6.10% | |
| Payout Ratio | 61.17% | 106.08% |