(MWH) SOLV Energy, Common Stock - Overview
Sector: Utilities | Industry: Utilities - Renewable | Exchange: NASDAQ (USA) | Market Cap: 8.792m USD | Total Return: 25.3% in 12m
Avg Turnover: 60.4M
Rev. Trend: 56.8%
Warnings
Altman Z'' 0.57 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
SOLV Energy, Inc. (MWH) is a California-based infrastructure firm specializing in the full lifecycle of utility-scale solar and battery storage projects. The company provides end-to-end services, including engineering, procurement, construction (EPC), and long-term operations and maintenance for facilities typically exceeding 200 MWdc in capacity. Its client base includes utilities, independent power producers, and large-scale project developers across the United States.
The utility-scale solar sector relies heavily on the integration of high-voltage transmission and distribution infrastructure to connect remote generation sites to the power grid. As renewable energy penetration increases, battery storage integration has become a critical component of the business model to manage grid stability and peak demand. Examining the historical performance of similar renewable utility stocks on ValueRay can provide further context on industry valuation trends.
Founded in 2008, SOLV Energy also offers repowering services, which involve upgrading aging solar assets with modern technology to increase efficiency and extend operational life. This focus on both new construction and legacy asset management positions the company across multiple phases of the renewable energy value chain.
- Utility-scale solar EPC backlog growth drives long-term revenue visibility
- Federal tax credit stability under Inflation Reduction Act impacts margins
- Battery energy storage systems expansion diversifies project revenue mix
- High interest rates increase capital costs for utility-scale developers
| Net Income: 149.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA 9.70 > 1.0 |
| NWC/Revenue: 0.26% < 20% (prev -4.07%; Δ 4.32% < -1%) |
| CFO/TA 0.18 > 3% & CFO 331.6m > Net Income 149.2m |
| Net Debt (77.0m) to EBITDA (281.0m): 0.27 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last fiscal year (199.4m) vs prev 0.0% < -2% |
| Gross Margin: 18.64% > 18% (prev 0.14%; Δ 1.85k% > 0.5%) |
| Asset Turnover: 151.2% > 50% (prev 125.0%; Δ 26.18% > 0%) |
| Interest Coverage Ratio: 3.71 > 6 (EBITDA TTM 281.0m / Interest Expense TTM 52.7m) |
| A: 0.00 (Total Current Assets 899.3m - Total Current Liabilities 892.8m) / Total Assets 1.82b |
| B: -0.05 (Retained Earnings -98.1m / Total Assets 1.82b) |
| C: 0.12 (EBIT TTM 195.4m / Avg Total Assets 1.65b) |
| D: -0.07 (Book Value of Equity -98.1m / Total Liabilities 1.36b) |
| Altman-Z'' = 0.57 = B |
| DSRI: 0.72 (Receivables 269.0m/278.0m, Revenue 2.49b/1.85b) |
| GMI: 0.75 (GM 18.64% / 14.03%) |
| AQI: 0.80 (AQ_t 0.44 / AQ_t-1 0.55) |
| SGI: 1.35 (Revenue 2.49b / 1.85b) |
| TATA: -0.10 (NI 149.2m - CFO 331.6m) / TA 1.82b) |
| Beneish M = -3.45 (Cap -4..+1) = AA |
As of June 03, 2026, the stock is trading at USD 34.63 with a total of 2,928,818 shares traded.
Over the past week, the price has changed by -11.51%,
over one month by +4.80%,
over three months by +22.65% and
over the past year by +25.33%.
SOLV Energy, Common Stock has no consensus analysts rating.
P/E Forward = 36.7647
P/S = 3.5302
P/B = 19.2955
Revenue TTM = 2.49b USD
EBIT TTM = 195.4m USD
EBITDA TTM = 281.0m USD
Long Term Debt = 413.3m USD (from longTermDebt, last quarter)
Short Term Debt = 9.02m USD (from shortLongTermDebt, last quarter)
Debt = 471.9m USD (corrected: LT Debt 413.3m + ST Debt 9.02m) + Leases 49.5m
Net Debt = 77.0m USD (calculated: Debt 471.9m - CCE 394.9m)
Enterprise Value = 8.87b USD (8.79b + Debt 471.9m - CCE 394.9m)
Interest Coverage Ratio = 3.71 (Ebit TTM 195.4m / Interest Expense TTM 52.7m)
EV/FCF = 28.59x (Enterprise Value 8.87b / FCF TTM 310.2m)
FCF Yield = 3.50% (FCF TTM 310.2m / Enterprise Value 8.87b)
FCF Margin = 12.46% (FCF TTM 310.2m / Revenue TTM 2.49b)
Net Margin = 5.99% (Net Income TTM 149.2m / Revenue TTM 2.49b)
Gross Margin = 18.64% ((Revenue TTM 2.49b - Cost of Revenue TTM 2.03b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 4.88 (Enterprise Value 8.87b / Total Assets 1.82b)
Interest Expense / Debt = 11.17% (Interest Expense 52.7m / Debt 471.9m)
Taxrate = 2.38% (3.64m / 153.3m)
NOPAT = 190.8m (EBIT 195.4m * (1 - 2.38%))
Current Ratio = 1.01 (Total Current Assets 899.3m / Total Current Liabilities 892.8m)
Debt / Equity = 1.04 (Debt 471.9m / totalStockholderEquity, last quarter 452.2m)
Debt / EBITDA = 0.27 (Net Debt 77.0m / EBITDA 281.0m)
Debt / FCF = 0.25 (Net Debt 77.0m / FCF TTM 310.2m)
Total Stockholder Equity = 452.2m (last fiscal year from totalStockholderEquity)
RoA = 9.06% (Net Income 149.2m / Total Assets 1.82b)
RoE = 27.11% (Net Income TTM 149.2m / Total Stockholder Equity 550.3m)
RoCE = 20.28% (EBIT 195.4m / Capital Employed (Equity 550.3m + L.T.Debt 413.3m))
RoIC = 22.44% (NOPAT 190.8m / Invested Capital 850.2m)
WACC = 14.55% (E(8.79b)/V(9.26b) * Re(14.75%) + D(471.9m)/V(9.26b) * Rd(11.17%) * (1-Tc(0.02)))
Discount Rate = 14.75% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (yearly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 60.55% ; FCFF base≈229.8m ; Y1≈263.4m ; Y5≈387.6m
[DCF] Fair Price = 23.25 (EV 2.76b - Net Debt 77.0m = Equity 2.68b / Shares 115.3m; r=14.55% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 56.85 | Revenue CAGR: 8.88% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.21 | Chg30d=+3.38% | Revisions=+43% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.45 | Chg30d=-10.39% | Revisions=-14% | Analysts=2
EPS current Year (2026-12-31): EPS=1.39 | Chg30d=+0.92% | Revisions=+33% | GrowthEPS=+0.0% | GrowthRev=+51.4%
EPS next Year (2027-12-31): EPS=1.61 | Chg30d=+5.83% | Revisions=+33% | GrowthEPS=+16.4% | GrowthRev=+13.9%
[Analyst] Revisions Ratio: +43%