SOLV Energy, Inc. (MWH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MWH SEC filings page.
This page shows SOLV Energy, Inc. (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).
SOLV Energy’s reported balance sheet is liability-heavy, with negative equity and near-one current coverage leaving little cushion in the disclosed structure.
Reported liabilities of$1.9B exceed total assets of$1.8B , leaving negative equity; this is not merely a high-debt structure but one where obligations exceed the recorded asset base. That structure coincides with a 1.0x current ratio: current assets and current liabilities are nearly matched, so the balance sheet offers little short-term excess after near-term obligations.
Long-term debt is
The absence of reported revenue, net income, and operating cash flow prevents a profitability or cash-conversion assessment; the available evidence describes financing structure, not operating performance. Goodwill is
Financial Health Signals
SOLV Energy, Inc. 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
Earnings & Revenue
SOLV Energy, Inc. generated $951.2M in revenue in Q2 2026. This represents an increase of 77.5% from the same quarter a year earlier. Against the prior quarter it is up 40.5%.
SOLV Energy, Inc.'s EBITDA was $87.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.9% from the same quarter a year earlier. Against the prior quarter it is up 425.5%.
SOLV Energy, Inc. reported $37.0M in net income in Q2 2026. This represents a decrease of 16.5% from the same quarter a year earlier. Against the prior quarter it is up 258.3%.
SOLV Energy, Inc. earned $0.30 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 250.0%.
Cash & Balance Sheet
SOLV Energy, Inc. held $364.0M in cash against $0 in long-term debt as of Q2 2026, with $961.6M of liabilities due within a year.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
SOLV Energy, Inc.'s gross margin was 14.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 6.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.9 percentage points.
SOLV Energy, Inc.'s operating margin was 7.3% in Q2 2026, reflecting core business profitability. This is down 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.4 percentage points.
SOLV Energy, Inc.'s net profit margin was 3.9% in Q2 2026, showing the share of revenue converted to profit. This is down 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.3 percentage points.
SOLV Energy, Inc.'s ROE was 7.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 12.8 percentage points.
Capital Allocation
None of these metrics is reported for Q2 2026.
MWH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|
| Revenue | $951.2M+77.5% | $676.8M | N/A | $536.0M | N/A |
| Cost of Revenue | $811.6M+91.9% | $557.7M | N/A | $422.9M | N/A |
| Gross Profit | $139.6M+23.5% | $119.1M | N/A | $113.1M | N/A |
| SG&A Expenses | $52.6M+27.9% | $111.4M | N/A | $41.2M | N/A |
| Operating Income | $69.7M+19.9% | -$7.2M | N/A | $58.1M | N/A |
| EBITDA | $87.0M+20.9% | $16.5M | N/A | $71.9M | N/A |
| Interest Expense | $1.4M-90.0% | $6.9M | N/A | $14.1M | N/A |
| Income Tax | $5.8M+456.2% | $4.2M | N/A | $1.0M | N/A |
| Net Income | $37.0M-16.5% | -$23.4M-4553.0% | N/A | $44.3M | -$502K |
| EPS (Basic) | $0.31 | -$0.20 | N/A | N/A | N/A |
| EPS (Diluted) | $0.30 | -$0.20 | N/A | N/A | N/A |
| Diluted Shares (Avg) | 202M | 115M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
MWH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|
| Total Assets | $2.1B | $2.0B | $1.8B | N/A | N/A |
| Current Assets | $1.1B | $946.6M | $899.3M | N/A | N/A |
| Cash & Equivalents | $364.0M | $384.9M | $394.9M | N/A | N/A |
| Short-Term Investments | $0 | N/A | $0 | N/A | N/A |
| Accounts Receivable | $392.8M | $285.0M | $269.0M | N/A | N/A |
| Long-Term Investments | $0 | N/A | $0 | N/A | N/A |
| Goodwill | $426.6M | $429.0M | $429.3M | N/A | N/A |
| Total Liabilities | $1.3B | $1.1B | $1.9B | N/A | N/A |
| Current Liabilities | $961.6M | $892.3M | $892.8M | N/A | N/A |
| Non-Current Liabilities | $316.9M | $253.1M | $1.0B | N/A | N/A |
| Long-Term Debt | $0 | $0 | $392.0M | N/A | N/A |
| Total Equity | $496.8M | $432.5M | -$98.1M | N/A | N/A |
| Retained Earnings | $13.6M | -$23.4M | -$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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|
| Gross Margin | 14.7%-6.4pp | 17.6% | N/A | 21.1% | N/A |
| Operating Margin | 7.3%-3.5pp | -1.1% | N/A | 10.8% | N/A |
| Net Margin | 3.9%-4.4pp | -3.5% | N/A | 8.3% | N/A |
| Return on Equity | 7.4% | -5.4% | N/A | N/A | N/A |
| Return on Assets | 1.7% | -1.2% | N/A | N/A | N/A |
| Current Ratio | 1.09 | 1.06 | 1.01 | N/A | N/A |
| Debt-to-Equity | 0.00 | 0.00 | N/A | N/A | N/A |
| Asset Turnover | 0.45 | 0.35 | N/A | N/A | N/A |
| FCF Margin | N/A | 0.6% | N/A | N/A | N/A |
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, Inc. Ranks
Frequently Asked Questions
How much debt does SOLV Energy, Inc. have?
As of fiscal year 2025, SOLV Energy, Inc. (MWH) had $394.9M in cash and equivalents against $392.0M in long-term debt.
What are SOLV Energy, Inc.'s total assets?
SOLV Energy, Inc. (MWH) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is SOLV Energy, Inc.'s current ratio?
SOLV Energy, Inc. (MWH) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.
What is SOLV Energy, Inc.'s P/E ratio?
SOLV Energy, Inc. (MWH) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $5.2B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is SOLV Energy, Inc.'s price-to-sales ratio?
SOLV Energy, Inc. (MWH) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $5.2B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is SOLV Energy, Inc.'s debt-to-equity ratio negative or not reported?
SOLV Energy, Inc. (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.