SOLV Energy, Inc. (MWH) AI Stock Analysis

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. The company engages in designing, building, and maintaining utility-scale solar and battery storage projects, and related transmission and distribution infrastructure. It also provides operations and maintenance services, serving project developers, independent power producers, and utilities. SOLV Energy, Inc. was founded in 2008, is headquartered in San Diego, California, and employs 2,600 people.

Between FY2022 and FY2025, revenue expanded at a 3-year compound annual growth rate of 2.4%, shifting from $2.32B in FY2022 to $2.10B in FY2023, $1.85B in FY2024, and rising 34.8% to $2.49B in FY2025. Operating margins improved across the period, moving from -3.5% in FY2022 and -2.5% in FY2023 to 3.5% in FY2024 and 7.8% in FY2025. Net income reached $149.2M in FY2025, up from net losses of -$121.8M in FY2022 and -$109.8M in FY2023. Over the trailing twelve months, revenue was $3.17B with an operating margin of 8.0% and EPS of $0.44, supported by quarterly revenue growth of 77.5% year-over-year in the quarter ended June 30, 2026.

As of June 30, 2026, SOLV Energy held $364.0M in cash and short-term investments and $83.6M in total debt, resulting in net cash of $280.3M. Total assets stood at $2.13B compared to shareholders' equity of $496.8M, with a current ratio of 1.09 and a debt-to-equity ratio of 0.17. In FY2025, the company generated $331.6M in operating cash flow and $310.2M in free cash flow, while deploying $21.4M toward capital expenditures and $91.2M toward dividends paid.

MWH trades at a trailing P/E of 54.5x and a forward P/E of 18.7x, compared to medians of 20.6x and 17.2x for its US-listed Utilities peers. Its EV/EBITDA multiple is 16.9x versus the peer median of 12.1x, while its price-to-sales multiple of 1.5x is lower than the peer median of 2.4x. As of October 16, 2026, the stock closed at $23.96, near its 52-week low of $23.12 and below its 52-week high of $48.40.

Wall Street coverage includes 9 Strong Buy, 1 Buy, and 1 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target is $43.00, which sits 79.5% above the last closing price of $23.96. For the current fiscal year ending December 31, 2026, consensus estimates call for revenue of $3.94B and EPS of $1.27. For the next fiscal year, 4 analysts estimate revenue of $4.54B (up 15.2%) and EPS of $1.70 (up 33.8%). The company's next earnings date is November 12, 2026.

This page is an AI-written research summary of SOLV Energy, Inc. (MWH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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