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SOLV Energy, Inc. Class A Common Stock (MWH) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

UTILITIES · UTILITIES - RENEWABLE · DATA UPDATED 2026-09-19

SOLV Energy, Inc. Class A Common Stock (MWH) operates in the UTILITIES - RENEWABLE industry and is headquartered in San Diego, United States with about 2,600 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, MWH reported $2.5B in revenue and $149M in net income.

SOLV Energy, Inc. provides infrastructure services to the power industry in the United States. It offers engineering, procurement, construction, testing, commissioning, operations, maintenance, and repowering services.

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MWH Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-31
Total Revenue$3.2B$2.5B$1.8B$2.1B$2.3B
Gross Profit$551M$406M$259M$110M$98M
Gross Margin %17.4%16.3%14.0%5.2%4.2%
Operating Income (EBIT)$190M$195M$65M($53M)($82M)
Operating Margin %6.0%7.8%3.5%-2.5%-3.5%
Net Income$119M$149M$50M($110M)($122M)
Net Margin %3.8%6.0%2.7%-5.2%-5.2%
EBITDA$281M$151M$32M$6M
Earnings Per Share (EPS)$0.74$0.25$-0.55$-0.61
Shares Outstanding (M)202M199M199M199M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MWH Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-03-312024-12-31
Total Revenue$951M$677M$794M$408M$441M
Gross Profit$140M$104M$129M$59M$82M
Gross Margin %14.7%15.4%16.2%14.5%18.5%
Operating Income (EBIT)$70M($7M)$45M$9M$25M
Operating Margin %7.4%-1.1%5.7%2.3%5.6%
Net Income$37M($23M)$36M($1M)$50M
Net Margin %3.9%-3.5%4.5%-0.2%11.3%
EBITDA$17M$69M$45M
Earnings Per Share (EPS)$-0.12$0.18$0.25
Shares Outstanding (M)202M202M199M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MWH Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-31
Cash from Operations (CFO)$327M$332M$118M$50M$84M
Capital Expenditures (CapEx)$32M$21M$9M$14M$27M
Free Cash Flow (FCF)$295M$310M$109M$36M$57M
FCF Margin %9.3%12.5%5.9%1.7%2.4%
Dividends Paid$204M$91M$11M$0M$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MWH Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-03-312024-12-31
Cash from Operations (CFO)$32M$14M$209M$20M$149M
Capital Expenditures (CapEx)$6M$10M$8M$3M$3M
Free Cash Flow (FCF)$26M$4M$201M$17M$146M
FCF Margin %2.7%0.6%25.3%4.3%33.1%
Dividends Paid$145M$5M$48M$5M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MWH Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-31
Total Assets$2.1B$1.8B$1.5B$1.6B
Cash & Cash Equivalents$364M$395M$208M$178M
Total Liabilities$1.3B$1.4B$1.1B$1.2B
Total Debt (Short + Long-Term)$435M$379M$403M
Total Shareholders' Equity$497M$452M$393M$390M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MWH viewer.

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