SOLV Energy, Inc. (MWH) Key Metrics
MWH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.85B
- Enterprise value
- $4.87B
- P/E (TTM)
- 54.5
- Forward P/E
- 18.7
- PEG ratio
- —
- Price / sales
- 1.5
- Price / book
- 10.4
- EV / EBITDA
- 16.9
- Dividend yield
- —
- Beta
- —
MWH key metrics, 2022–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMWH returns How much profit the business earns on the capital it uses.
MWH per-share figures Results divided by the shares outstanding at year-end.
MWH financial health Debt, liquidity and how easily interest is covered.
MWH efficiency & capital use Working capital cycle and where the cash goes.
MWH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MWH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MWH cash returned to shareholders
MWH key metrics
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Per share | ||||
| Revenue per share | $12.30 | $9.27 | $10.53 | $11.63 |
| Earnings per share | $0.74 | $0.25 | −$0.55 | −$0.61 |
| Operating cash flow per share | $1.64 | $0.59 | $0.25 | $0.42 |
| Free cash flow per share | $1.53 | $0.55 | $0.18 | $0.28 |
| Cash per share | $1.95 | $1.04 | $0.89 | — |
| Book value per share | $2.23 | $1.96 | $1.95 | — |
| Tangible book value per share | −$1.68 | −$2.09 | −$2.44 | — |
| Dividends per share | $0.45 | $0.05 | $0.00 | $0.00 |
| Capex per share | $0.11 | $0.04 | $0.07 | $0.14 |
| Debt per share | $2.33 | $2.12 | $2.19 | — |
| Shares outstanding | 202.5M | 199.4M | 199.4M | 199.4M |
| Change in shares outstanding | +1.5% | 0.0% | 0.0% | — |
| Returns & profitability | ||||
| Return on equity (ROE) | 35.4% | 12.8% | −28.3% | — |
| Return on invested capital (ROIC) | 33.6% | 9.0% | −6.5% | — |
| Return on assets (ROA) | 9.1% | 3.3% | −6.9% | — |
| Return on tangible assets | 14.6% | 7.5% | −15.5% | — |
| Free cash flow margin | 12.5% | 5.9% | 1.7% | 2.4% |
| Income quality (OCF / net income) | 2.22 | 2.36 | — | — |
| Financial health | ||||
| Total debt | $471.9M | $422.4M | $436.2M | — |
| Cash & short-term investments | $394.9M | $208.0M | $178.0M | — |
| Net debt | $77.0M | $214.4M | $258.2M | — |
| Debt / equity | 1.04 | 1.08 | 1.12 | — |
| Debt / assets | 0.26 | 0.29 | 0.28 | — |
| Net debt / EBITDA | 0.27 | 1.42 | 8.10 | — |
| Current ratio | 0.99 | 0.89 | 0.83 | — |
| Quick ratio | 0.93 | 0.89 | 0.83 | — |
| Interest coverage | 3.7 | 17.5 | -0.9 | -2.1 |
| Working capital | −$11.3M | −$75.1M | −$126.4M | — |
| Invested capital | $529.2M | $605.4M | $646.5M | — |
| Tangible asset value | −$336.4M | −$415.1M | −$484.6M | — |
| Net current asset value | −$479.5M | −$496.3M | −$559.1M | — |
| Graham number | $6.08 | $3.32 | — | — |
| Graham net-net per share | −$3.05 | −$3.13 | −$3.54 | — |
| Capital allocation | ||||
| Dividends paid | $91.2M | $10.5M | $0 | $0 |
| Dividend payout ratio | 61.2% | 21.1% | — | — |
| Dividends + buybacks / free cash flow | 29.4% | 9.7% | 0.0% | 0.0% |
| Capex / revenue | 0.9% | 0.5% | 0.7% | 1.2% |
| Capex / operating cash flow | 6.5% | 7.3% | 28.6% | 32.5% |
| Capex / depreciation | 0.25 | 0.10 | 0.18 | 0.31 |
| Stock-based compensation / revenue | 1.1% | 0.5% | 0.1% | 0.1% |
| SG&A / revenue | 8.5% | 6.9% | 4.6% | 4.4% |
| Efficiency | ||||
| Days sales outstanding | 56.4 | 74.1 | 71.8 | — |
| Days of inventory on hand | 8.4 | — | — | — |
| Days payables outstanding | 66.0 | 88.1 | 80.0 | — |
| Cash conversion cycle (days) | -1.2 | -13.9 | -8.2 | — |
| Receivables turnover | 6.48 | 4.92 | 5.08 | — |
| Payables turnover | 5.53 | 4.14 | 4.56 | — |
| Inventory turnover | 43.35 | — | — | — |
| Asset turnover | 1.51 | 1.21 | 1.33 | — |
| Average receivables | $384.6M | $375.3M | $413.3M | — |
| Average payables | $376.6M | $383.3M | $436.4M | — |
| Average inventory | $48.1M | — | — | — |
| Intangibles / total assets | 43.6% | 54.7% | 55.2% | — |
Computed from MWH's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MWH valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 54.5 and the forward P/E is 18.7. SOLV Energy earned a return on equity of 35.4% and a return on invested capital of 33.6% in fiscal 2025. It ended the year with $471.9 million of debt and $394.9 million in cash and short-term investments, net debt of $77.0 million. It returned $91.2 million to shareholders: $91.2 million in dividends and $0 in share buybacks, 29% of free cash flow.
See the MWH income statement, the MWH chart for price history, or the MWH stock overview for the latest quote and news.
MWH key metrics FAQ
What is SOLV Energy's P/E ratio?
SOLV Energy's trailing P/E ratio is 54.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.7. At the end of fiscal 2025 it was —.
What is SOLV Energy's return on equity?
SOLV Energy's return on equity (ROE) was 35.4% in fiscal 2025: net income of $149.2 million on average shareholders' equity of $421.6 million.
What is SOLV Energy's ROIC?
SOLV Energy's return on invested capital was 33.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does SOLV Energy have?
SOLV Energy had total debt of $471.9 million at the end of fiscal 2025, a debt-to-equity ratio of 1.04 and $77.0 million of net debt (0.27 times EBITDA).
What is SOLV Energy's current ratio?
SOLV Energy's current ratio was 0.99 at the end of fiscal 2025: current assets were 0.99 times current liabilities.