SOLV Energy, Inc. (MWH) Income Statement
MWH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMWH revenue and net income
Where MWH's revenue goes
2025Each bar shows an amount and its share of revenue. MWH kept 6.0% of revenue as net income.
MWH profit margins
MWH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +34.8% | +2.4% | — | — |
| Gross profit | +56.8% | +60.7% | — | — |
| Operating income | +201.0% | — | — | — |
| Net income | +198.9% | — | — | — |
| EPS (diluted) | −28.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MWH quarterly EPS vs estimates
SOLV Energy beat the analyst EPS estimate in 1 of the last 3 quarters. Next report: November 12, 2026 (estimate $0.62).
MWH income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $2.49B | $1.85B | $2.10B | $2.32B |
| Cost of revenue | $2.08B | $1.59B | $1.99B | $2.22B |
| Gross profit | $406.5M | $259.2M | $110.0M | $97.9M |
| Sales, general & admin | $211.0M | $127.9M | $95.8M | $101.2M |
| Total operating expenses | $211.0M | $194.2M | $162.9M | $180.2M |
| Operating income | $195.4M | $64.9M | −$52.9M | −$82.3M |
| Interest income | $7.2M | $4.6M | $1.6M | $202,000 |
| Interest expense | $52.7M | $3.7M | $59.7M | $39.7M |
| Income before taxes | $153.3M | $62.2M | −$109.6M | −$121.8M |
| Income taxes | $3.6M | $8.0M | $204,000 | $5,000 |
| Net income | $149.2M | $49.9M | −$109.8M | −$121.8M |
| EBITDA | $281.0M | $150.8M | $31.9M | $6.2M |
| EPS (diluted) | $0.18 | $0.25 | — | — |
| Gross margin | 16.3% | 14.0% | 5.2% | 4.2% |
| Operating margin | 7.8% | 3.5% | −2.5% | −3.5% |
| Net margin | 6.0% | 2.7% | −5.2% | −5.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Revenue | $951.2M | $676.8M | $793.6M | $753.1M | $536.0M | $407.8M | $440.9M |
| Cost of revenue | $829.9M | $572.6M | $665.1M | $604.9M | $422.9M | $348.7M | $359.4M |
| Gross profit | $121.4M | $104.2M | $128.5M | $148.2M | $113.1M | $59.1M | $81.5M |
| Sales, general & admin | $52.6M | $111.4M | $83.3M | $50.5M | $41.2M | $36.1M | $40.4M |
| Total operating expenses | $51.7M | $111.4M | $83.3M | $65.4M | $477.8M | $398.6M | $56.7M |
| Operating income | $69.7M | −$7.2M | $45.2M | $82.8M | $58.1M | $9.3M | $24.8M |
| Interest income | $1.8M | $1.4M | $1.3M | $1.0M | $1.6M | $3.3M | $2.6M |
| Interest expense | $1.4M | $6.9M | $12.3M | $22.3M | $14.1M | $12.7M | $38.0M |
| Income before taxes | $72.7M | −$23.2M | $37.3M | $106.7M | $45.7M | −$240,000 | $61.1M |
| Income taxes | $5.8M | $4.2M | $1.8M | $18.5M | — | — | $7.0M |
| Net income | $37.0M | −$23.4M | $35.5M | $38.2M | $44.3M | −$714,000 | $49.8M |
| EBITDA | $96.4M | $16.5M | $68.9M | $106.4M | $79.9M | — | $45.3M |
| EPS (diluted) | $0.30 | −$0.20 | $0.18 | — | — | — | — |
| Gross margin | 12.8% | 15.4% | 16.2% | 19.7% | 21.1% | 14.5% | 18.5% |
| Operating margin | 7.3% | −1.1% | 5.7% | 11.0% | 10.8% | 2.3% | 5.6% |
| Net margin | 3.9% | −3.5% | 4.5% | 5.1% | 8.3% | −0.2% | 11.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MWH's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MWH financial results
In fiscal year 2025 (ended December 31, 2025), SOLV Energy reported revenue of $2.5 billion, up 34.8% from the year before. It had net income of $149.2 million (up 198.9%), a net profit margin of 6.0%. Diluted earnings per share came to $0.18.
See the MWH stock overview for the latest quote and news, or the MWH chart for price history and technical indicators.
MWH income statement FAQ
What is SOLV Energy's annual revenue?
SOLV Energy reported total revenue of $2.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 34.8% from $1.8 billion the previous year.
Is SOLV Energy profitable?
Yes. SOLV Energy reported net income of $149.2 million in fiscal 2025, a net profit margin of 6.0%; its operating margin was 7.8%.
What is SOLV Energy's gross margin?
SOLV Energy's gross margin was 16.3% in fiscal 2025: for every $100 of revenue, SOLV Energy kept $16 after the direct cost of its products and services.
What are SOLV Energy's earnings per share?
SOLV Energy earned $0.18 per diluted share in fiscal 2025, compared with $0.25 a year earlier.
When will SOLV Energy report its next earnings?
SOLV Energy is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does SOLV Energy's fiscal year end?
SOLV Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.