Solv Energy Financials

MWH

FY2025 annual

Revenue Not reported for FY2025

Net Income Not reported for FY2025

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

This page shows Solv Energy (MWH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MWH FY2025 2026-08-14

Liability-funded operations and a near-breakeven liquidity cushion define this balance sheet more than any earnings signal does.

Despite holding $394.9M of cash, the company’s current ratio is only 1.0x because $892.8M of current liabilities nearly absorb $899.3M of current assets; that means the cash is functioning as operating support, not excess liquidity. With equity already at -$98.1M, any working-capital squeeze would hit a balance sheet with little book-value cushion left.

The balance sheet is effectively creditor-financed: total liabilities of $1.91B exceed total assets of $1.82B, and long-term debt adds another fixed claim of $392.0M. For a non-expert, that means lenders and other obligations fund the business more than shareholder capital does.

Reported assets also include goodwill of $429.3M, which is larger than the entire equity deficit. That makes tangible net worth materially more negative than the headline balance sheet suggests, so the asset base is less cash-like than its total size implies.

Financial Health Signals

Financial health score not available

Solv Energy does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$394.9M

Solv Energy held $394.9M in cash against $392.0M in long-term debt as of fiscal year 2025.

Shares Outstanding

100

Solv Energy had 100 shares outstanding in fiscal year 2025.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

None of these metrics is reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

MWH Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MWH annual income statement

Metric	FY25
Income Tax	$3.6M

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25
Revenue	$951.2M+40.5%	$676.8M	N/A	$536.0M	N/A
Cost of Revenue	$811.6M+45.5%	$557.7M	N/A	$422.9M	N/A
Gross Profit	$139.6M+17.2%	$119.1M	N/A	$113.1M	N/A
SG&A Expenses	$52.6M-52.7%	$111.4M	N/A	$41.2M	N/A
Operating Income	$69.7M+1070.4%	-$7.2M	N/A	$58.1M	N/A
Interest Expense	$1.4M-79.7%	$6.9M	N/A	$14.1M	N/A
Income Tax	$5.8M+39.8%	$4.2M	N/A	$1.0M	N/A
Net Income	$37.0M+258.3%	-$23.4M	N/A	$44.3M+8915.7%	-$502K
EPS (Diluted)	$0.30+250.0%	-$0.20	N/A	N/A	N/A

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Net Income, EPS (Diluted).

MWH Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MWH annual balance sheet

Metric	FY25
Total Assets	$1.8B
Current Assets	$899.3M
Cash & Equivalents	$394.9M
Accounts Receivable	$269.0M
Goodwill	$429.3M
Total Liabilities	$1.9B
Current Liabilities	$892.8M
Long-Term Debt	$392.0M
Total Equity	-$98.1M
Retained Earnings	-$98.1M

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25
Total Assets	$2.1B+8.8%	$2.0B+7.7%	$1.8B	N/A	N/A
Current Assets	$1.1B+11.1%	$946.6M+5.3%	$899.3M	N/A	N/A
Cash & Equivalents	$364.0M-5.4%	$384.9M-2.5%	$394.9M	N/A	N/A
Accounts Receivable	$392.8M+37.8%	$285.0M+5.9%	$269.0M	N/A	N/A
Goodwill	$426.6M-0.6%	$429.0M-0.1%	$429.3M	N/A	N/A
Total Liabilities	$1.3B+11.6%	$1.1B-40.2%	$1.9B	N/A	N/A
Current Liabilities	$961.6M+7.8%	$892.3M-0.1%	$892.8M	N/A	N/A
Long-Term Debt	$0	$0-100.0%	$392.0M	N/A	N/A
Total Equity	$496.8M+14.9%	$432.5M+540.7%	-$98.1M	N/A	N/A
Retained Earnings	$13.6M+158.3%	-$23.4M+76.2%	-$98.1M	N/A	N/A

Not reported in any period shown, so not listed: Inventory.

MWH Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

MWH annual financial ratios

Metric	FY25
Current Ratio	1.01

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25
Gross Margin	14.7%-2.9pp	17.6%	N/A	21.1%	N/A
Operating Margin	7.3%+8.4pp	-1.1%	N/A	10.8%	N/A
Net Margin	3.9%+7.3pp	-3.5%	N/A	8.3%	N/A
Return on Equity	7.4%+12.8pp	-5.4%	N/A	N/A	N/A
Return on Assets	1.7%+2.9pp	-1.2%	N/A	N/A	N/A
Current Ratio	1.090.0x	1.06+0.1x	1.01	N/A	N/A
Debt-to-Equity	0.000.0x	0.00	N/A	N/A	N/A
FCF Margin	N/A	0.6%	N/A	N/A	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Debt-to-Equity, FCF Margin.

Note: Shareholder equity is negative (-$98.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Where Solv Energy Ranks

Frequently Asked Questions

How much debt does Solv Energy have?

As of fiscal year 2025, Solv Energy (MWH) had $394.9M in cash and equivalents against $392.0M in long-term debt.

What are Solv Energy's total assets?

Solv Energy (MWH) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Solv Energy have outstanding?

Solv Energy (MWH) had 100 shares outstanding as of fiscal year 2025.

What is Solv Energy's current ratio?

Solv Energy (MWH) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.

Why is Solv Energy's debt-to-equity ratio negative or not reported?

Solv Energy (MWH) has negative shareholder equity of -$98.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.