olivLaw · US equity research
Willdan Group, Inc. WLDN
Services-Engineering Services · SIC 8711 · Vertical: Services-Engineering Services (SIC 8711)
Willdan Group provides technical, engineering and consulting services to utilities, public agencies and private clients, focused on energy efficiency, emissions reduction and infrastructure. The company is relevant now because electricity demand from AI data centers and electrification supports its Energy segment, which makes up most of revenue, and contract revenue rose 33.2% in the second quarter of fiscal 2026.
At the close of 04 Nov 2026, Willdan Group, Inc. (WLDN) stock was 74.20 USD (−0.59% on the day), with market capitalisation 1.1 bn USD, P/E 17.4 on diluted EPS of 4.26 USD over the last 12 months, beta 1.21, 52-week range 66.91–134.94 USD. Latest reported quarter (Q2 2027): revenue of 231.0 m USD (+33.2% YoY), net income of 24.3 m USD (+57.7% YoY), diluted EPS 1.58 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 48.5
- neutral
- Bollinger (20, 2)
- 70.53 – 76.58
- in the upper half of the band · %B 0.61 · band width 8.2%
- SMA 50 / 200
- 77.90 / 85.92
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.74 / -1.16
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.8% | −1.1% | +1.9 pp | — |
| 3 months | +0.1% | −0.5% | +0.5 pp | — |
| 6 months | −2.0% | +4.4% | −6.4 pp | — |
| Year to date | −28.4% | +12.3% | −40.7 pp | — |
| 1 year | −18.3% | +13.5% | −31.9 pp | −0.4% |
| 3 years | +283.5% | +76.4% | +207.1 pp | +81.4% |
| 5 years | +98.9% | +63.7% | +35.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 03 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 158.3 m | 144.1 m | 152.4 m | 173.5 m | 182.0 m | 173.7 m | 155.1 m | 231.0 m |
| Cost of revenue | 106.7 m | 89.1 m | 94.7 m | 105.1 m | 114.9 m | 111.1 m | 92.0 m | 143.6 m |
| Gross profit | 51.6 m | 55.0 m | 57.7 m | 68.3 m | 67.1 m | 62.6 m | 63.2 m | 87.5 m |
| Operating income | 8.7 m | 10.9 m | 7.0 m | 11.8 m | 14.9 m | 10.4 m | 7.3 m | 19.7 m |
| Depreciation & amortisation | 3.7 m | 3.8 m | 4.4 m | 5.5 m | 3.9 m | 4.8 m | 5.4 m | 7.0 m |
| Pre-tax income | 7.5 m | 9.9 m | 5.2 m | 10.2 m | 14.3 m | 10.3 m | 7.3 m | 19.1 m |
| Income tax | 157.0 k | 2.2 m | 506.0 k | -5.3 m | 569.0 k | -8.4 m | -1.3 m | -5.3 m |
| Net income | 7.3 m | 7.7 m | 4.7 m | 15.4 m | 13.7 m | 18.7 m | 8.5 m | 24.3 m |
| Diluted EPS | 0.51 | 0.53 | 0.32 | 1.03 | 0.90 | 1.23 | 0.55 | 1.58 |
| Operating cash flow | 10.8 m ≈ | 33.5 m | 3.3 m | 25.4 m ≈ | 12.2 m ≈ | 39.2 m | -24.4 m | 43.9 m ≈ |
| Capex | 1.9 m ≈ | 2.3 m | 2.3 m | 2.2 m ≈ | 2.4 m ≈ | 2.5 m | 2.0 m | 1.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 23-quarter history (min 17.9, median 27.3, max 239.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 273.4 m | 272.3 m | 443.1 m | 353.8 m | 429.1 m | 510.1 m | 565.8 m | 681.6 m |
| Revenue YoY | +30.8% | −0.4% | +62.8% | unavailable | +21.3% | +18.9% | +10.9% | unavailable |
| Net income | 12.1 m | 10.0 m | 4.8 m | -8.4 m | -8.4 m | 10.9 m | 22.6 m | 52.6 m |
| Net income YoY | +46.2% | −17.3% | −51.7% | unavailable | unavailable | unavailable | +106.6% | unavailable |
| Diluted EPS | 1.32 | 1.03 | 0.41 | -0.68 | -0.65 | 0.80 | 1.58 | 3.49 |
| Diluted EPS YoY | +36.1% | −22.0% | −60.2% | unavailable | unavailable | unavailable | +97.5% | unavailable |
| net % | 4.4% | 3.7% | 1.1% | -2.4% | -2.0% | 2.1% | 4.0% | 7.7% |
| Free cash flow | 8.9 m | 5.5 m | 5.0 m | 1.3 m | -169.0 k | 29.3 m | 63.7 m | 70.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 02 Jan 2026
- Cash
- 65.9 m USD
- Financial debt
- 48.5 m USD
- Net debt
- -17.5 m USD
- Equity
- 304.9 m USD
- Total assets
- 544.2 m USD
- Debt / equity
- 0.16x
- Current ratio
- 1.56x
- ROE
- unavailable
- ROA
- 9.7%
- FCF margin
- 10.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 443.1 m | 353.8 m | 429.1 m | 510.1 m | 565.8 m | 681.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 308.1 m | 217.9 m | 285.6 m | 330.3 m | 363.0 m | 425.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 135.0 m ≈ | 135.9 m | 143.6 m | 179.8 m | 202.8 m | 255.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 9.4 m | -8.7 m | -7.1 m | 22.1 m | 31.4 m | 44.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 15.5 m | 17.1 m | 17.5 m | 16.4 m | 14.7 m | 18.7 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | 24.8 m ≈ | 8.5 m ≈ | 10.4 m ≈ | 38.5 m ≈ | 46.1 m ≈ | 62.8 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Interest expense | 4.9 m | 3.9 m | — | — | — | — | SEC (XBRL)· 11 Mar 2022verified |
| Pre-tax income | 4.7 m | -12.4 m | -11.5 m | 14.6 m | 26.7 m | 40.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | -185.0 k | -4.0 m | -3.0 m | 3.7 m | 4.1 m | -12.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 4.8 m | -8.4 m | -8.4 m | 10.9 m | 22.6 m | 52.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 0.41 | -0.68 | -0.65 | 0.80 | 1.58 | 3.49 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 11.8 m | 12.5 m | 13.0 m | 13.6 m | 14.2 m | 15.1 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.5 m | 11.2 m | 8.8 m | 23.4 m | 74.2 m | 65.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 57.5 m | 67.2 m | 60.2 m | 69.7 m | 65.6 m | 64.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 175.5 m | 149.0 m | 174.0 m | 192.0 m | 235.5 m | 251.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 12.1 m | 16.8 m | — | — | — | — | SEC (XBRL)· 11 Mar 2022verified |
| Goodwill | 127.6 m | 130.1 m | 130.1 m | 131.1 m | 141.0 m | 179.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 76.8 m | 52.7 m | 41.5 m | 32.0 m | 29.4 m | 35.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 439.9 m | 394.4 m | 409.7 m | 415.6 m | 464.9 m | 544.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 34.0 m | 36.7 m | 28.8 m | 33.2 m | 33.8 m | 45.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | — | 15.0 m | 16.9 m | 8.5 m | 10.1 m | 2.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 130.4 m | 85.5 m | 90.5 m | 89.0 m | 79.4 m | 46.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 132.0 m | 117.2 m | 127.2 m | 114.7 m | 137.7 m | 161.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 272.6 m | 215.2 m | 228.2 m | 215.7 m | 230.5 m | 239.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 167.3 m | 179.2 m | 181.5 m | 199.8 m | 234.3 m | 304.9 m | SEC (XBRL)· 27 Feb 2026verified |
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 11.6 m | 9.8 m | 9.4 m | 39.2 m | 72.1 m | 80.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 6.6 m | 8.5 m | 9.6 m | 9.9 m | 8.4 m | 9.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 5.0 m ≈ | 1.3 m ≈ | -169.0 k ≈ | 29.3 m ≈ | 63.7 m ≈ | 70.7 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -78.3 m | -8.5 m | -9.5 m | -11.5 m | -15.7 m | -45.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | 56.9 m | -18.5 m | 8.4 m | -23.8 m | -5.6 m | -42.7 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 70 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet85
- Growth92
- Valuation55
- Quality64
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 52.57 – 136.78 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA52.57 – 93.99 (Mid 66.72)4 companies used · median multiple 14.3x · quartiles 11.3x – 19.9xACM, MG, TTEK, VSEC
- Peers: P/E111.86 – 136.78 (Mid 133.13)5 companies used · median multiple 31.3x · quartiles 26.3x – 32.1xACFN, ACM, JLHL, MG, TTEK
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 70/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 13.0% | 40 (vs peers) | 13% |
| Net margin · Quality | 8.8% | 75 (vs peers) | 8% |
| FCF conversion · Quality | 95.4% | 93 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 10.1% | 85 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | 63.4% | 100 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 0.4x | 100 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.4x | 48 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 17.4x | 100 (vs peers) | 13% |
| EV/EBITDA · Valuation | 15.8x | 0 (on a fixed band) | 13% |
| FCF yield · Valuation | 5.5% | 69 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet85/100 · 2/3 factors with a value
- Growth92/100 · 2/2 factors with a value
- Quality64/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation55/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
WILLDAN GROUP, INC. (WLDN). Latest full fiscal year: 2026; data up to 2026-07-03.
Figures computed from the financial statements: revenue 681.6 m USD in 2026; net margin 8.8%; ROE 21.2%; net debt/EBITDA 0.4x.
The estimated value range is 82.21–115.39 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 99.93 USD, the price of 74.20 USD leaves a potential of 34.7% (value / price − 1) and a margin of safety of 25.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 70/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 8.8%
- FCF conversion: 95.4%
- Revenue CAGR 3Y: 10.1%
- EPS CAGR 3Y: 63.4%
- Net debt / EBITDA: 0.4x
- P/E (TTM): 17.4x
- The price is below the estimated value range
What contradicts it
- EV/EBITDA: 15.8x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Interest coverage, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Engineering Services (SIC 8711) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TTEKTetra Tech Inc | 10.5 bn | 24.7 | 24.3% | 8.6% | +4.7% | +18% / +29% |
| ACMAecom | 8.8 bn | 31.3 | 12.3% | 1.9% | +0.2% | −34% / −23% |
| VSECVse Corporation | 4.6 bn | 59.9 | 3.8% | 5.5% | +41.5% | −9% / +171% |
| WLDNWilldan Group, Inc. | 1.1 bn | 17.4 | 21.2% | 8.8% | unavailable | −18% / +283% |
| MGMistras Group, Inc. | 644.7 m | 32.1 | 8.8% | 2.8% | −0.8% | +69% / +206% |
| JLHLJulong Holding Ltd | 152.3 m | 39.4 | 37.5% | 10,226.0% | unavailable | +76% / unavailable |
| ACFNAcorn Energy, Inc. | 40.4 m | 26.3 | 19.7% | 16.1% | +4.5% | +8% / +133% |
| OFALOFA Group | 7.6 m | — | -68.9% | -1,119.1% | +254.9% | −97% / unavailable |
| STNStantec Inc. | — | — | 15.5% | 5.9% | +8.6% | −18% / +6% |
1- and 3-year price returns: for WLDN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 46.65 Total return -37% · Per year -37% | 82.25 Total return 11% · Per year 11% | 123.61 Total return 67% · Per year 67% |
| 3 years | 50.55 Total return -32% · Per year -12% | 99.78 Total return 34% · Per year 10% | 163.87 Total return 121% · Per year 30% |
| 5 years | 54.78 Total return -26% · Per year -6% | 121.05 Total return 63% · Per year 10% | 217.25 Total return 193% · Per year 24% |
- Exit P/E± 24.95
- Net margin± 17.46
- Annual revenue growth± 13.60
- Annual dilution± 1.47
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Willdan Group provides technical, engineering and consulting services to utilities, public agencies and private clients, focused on energy efficiency, emissions reduction and infrastructure. The company is relevant now because electricity demand from AI data centers and electrification supports its Energy segment, which makes up most of revenue, and contract revenue rose 33.2% in the second quarter of fiscal 2026 23.
SWOT
Strengths
- The company has long relationships with public agencies and utilities, and many contracts are with clients served for years 1.
- The offering spans energy services and engineering and consulting, allowing synergies between segments 12.
- Growth in revenue and gross margin in fiscal 2025 shows an ability to benefit from the contract mix 1.
Weaknesses
- A significant share of revenue is concentrated in a few large customers, which increases exposure to losing a contract 1.
- Many contracts are fixed-price, and cost overruns can reduce profit or create losses on individual projects 1.
- The company relies heavily on subcontractors, which can affect quality and timing if they fail to meet obligations 1.
Opportunities
- Demand for power from AI data centers and electrification could expand the energy services market 1.
- Recent acquisitions such as Burton and Compass could add revenue and capabilities if integration succeeds 23.
- Emissions reduction goals and the modernization of aging infrastructure could create new projects for agencies 1.
Risks
- Customer concentrationhigh
Two contracts represent a significant part of revenue in the Energy segment, and losing them could affect results 1.
- Cost overrun riskhigh
Fixed-price contracts can generate losses if cost estimates prove wrong or projects are delayed 1.
- Dependence on regulationmedium
Energy revenue depends on state commission policies, which can change demand and contract terms 1.
- Cyclical public demandmedium
Government budgets and private investment can decline during economic slowdowns 1.
- Acquisition integrationlow
Recent acquisitions might not deliver expected benefits if integration of staff and systems proves difficult 3.
Investment thesis
What would need to be true (bull case)
- If demand linked to AI data centers and electrification continues, revenue growth in the Energy segment could support the higher margins seen in 2026 23.
- Management's raised net revenue target signals confidence in the contract portfolio and recent acquisitions 3.
- Long relationships with public and utility clients could provide revenue continuity even during uncertain periods 1.
What would break the thesis
- Concentration of revenue in a few large clients could make results sensitive to their budget or investment decisions 1.
- Fixed-price contracts expose the company to cost overruns that could reduce profitability in certain quarters 1.
- Rapid growth through acquisitions could create integration difficulties and pressure on overhead costs 2.
What to watch
- Delivery of the fiscal 2026 net revenue and adjusted EBITDA targetsQ3 2026
- Trend in contract revenue from utility and government clientsQ3 2026
- Integration of the Burton and Compass acquisitions and their revenue contribution2026
- Changes in state regulatory commission rules affecting energy contractsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Willdan Group, Inc. is a provider of professional, technical and consulting services to utilities, private industry and public agencies at all levels of government 1. The company was founded in 1964 and describes itself as a professional services firm focused on growth and value creation for clients, employees and shareholders 12. It operates through a network of offices in 22 states, the District of Columbia, the Canadian province of Alberta and Puerto Rico 1.
The business model combines organic growth with strategic acquisitions that expand the services offered to new and existing clients 1. Clients include most of the largest investor-owned electric utilities and over half of the largest municipal utilities in the United States, as well as schools, universities, cities and counties 1. Individual projects typically last between two and twenty-four months, while utility contracts can run up to five years 1.
In 2026 the company added businesses through acquisitions including Burton Energy Group, LLC, acquired in May 2026, and Compass Municipal Advisors, LLC, acquired in January 2026 2. Management raised its fiscal 2026 net revenue target, which points to continued growth if demand for energy services holds 3.
Segments
Energy
The Energy segment accounted for 85% of contract revenue in fiscal 2025 1. It offers energy planning, efficiency programs, grid projects, AI data center power solutions, construction management and measurement and verification services for utilities, governments and commercial clients 12.
Engineering and Consulting
The Engineering and Consulting segment covers the remainder of revenue and focuses on civil infrastructure, building and safety services, city engineering and financial consulting for local governments 12. The company often acts as a municipality's engineering department 2.
Market context
The company operates in the energy services market and the engineering and consulting market, mainly for public agencies, utilities and commercial firms 1. According to the annual report, demand is supported by rapid growth in AI, which raises power demand from data centers, as well as electrification and decarbonization goals 1.
The market is shaped by state energy regulatory commissions, which set goals and terms for utility programs, and changes in those rules can alter demand and contract economics 1. Government budgets and private spending remain key factors, especially during economic slowdowns 1.
Trends
- Demand from AI data centerstailwind
Rising grid load from AI data centers is cited by the company as a driver of expansion in the energy services market 1. If this demand materializes, it could support revenue in the Energy segment.
- Electrification and energy transitiontailwind
Electric vehicles, battery storage and wind and solar integration change how energy is generated and consumed, creating need for planning and grid modernization services 1. These shifts are favorable if utilities keep investing.
- Sensitivity of public budgetsheadwind
Demand for services is cyclical and vulnerable to economic downturns or worsening government fiscal conditions, which can delay or cancel projects 1. These conditions could weigh on the public engineering business.
- Changes in energy regulationmixed
Changes in regulatory commission mandates can alter the terms and profitability of utility contracts, either favorably or unfavorably 1. The effect depends on the direction of state policy.
Competitive position
The company says it operates in a highly competitive energy services market and must win new contracts and renew existing ones through bidding processes 3. Public engineering contracts are awarded mainly on professional qualifications rather than fees, which favors firms with long agency relationships 1.
Competition includes energy services and engineering firms offering the same types of contracts to utilities and local governments 13. The sources consulted do not name direct competitors, so market shares and performance comparisons cannot be given.
- Energy services and energy efficiency firms
The sources do not name specific competitors; the company describes them only as part of a highly competitive market.
- Engineering and consulting firms serving public agencies
Competition comes from firms offering similar municipal engineering and financial consulting services, according to the annual report.
- Construction and program management firms
Companies offering construction management and installation of efficiency measures can compete for the same utility projects.
- Utility program consulting firms
Firms providing utility program consulting and energy planning appear as alternatives for large clients.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report23 Sept 2026Material agreement · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report18 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement24 Apr 2026
- Annual report27 Feb 2026
- Current report26 Feb 2026Results of operations · Financial statements and exhibits
- Quarterly report07 Nov 2025
Sources
- [1] Form 10-K, fiscal year ended 2026-01-02 · SEC / Willdan Group, Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-07-03 · SEC / Willdan Group, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Willdan Group, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.