Willdan Group, Inc.
- Open
- 79.59
- Day high
- 79.59
- Day low
- 78.05
- Prev close
- 79.10
- Volume
- 301K
- Mkt cap
- $1.2B
- P/E (TTM)
- 20.3
- EPS (TTM)
- $3.87
- P/B
- 3.8
- P/S
- 1.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6.1M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Willdan Group, Inc. (WLDN) is a Industrials company listed on NASDAQ. The stock is up 19% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4).
Willdan Group, Inc. (WLDN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WLDN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.81 | $0.91 | +12.3% | $92M | +0.3% |
| Nov 6, 2025 | $0.81 | $1.21 | +49.4% | $182M | +4.3% |
| Aug 7, 2025 | $0.72 | $1.50 | +108.3% | $173M | +7.1% |
| May 8, 2025 | $0.44 | $0.63 | +43.2% | $152M | -4.8% |
| Mar 6, 2025 | $0.57 | $0.75 | +31.6% | $144M | -0.6% |
| Oct 31, 2024 | $0.55 | $0.73 | +32.7% | $158M | +9.1% |
| Aug 1, 2024 | $0.29 | $0.55 | +89.7% | $141M | +121.3% |
| May 2, 2024 | $0.19 | $0.40 | +110.5% | $122M | +94.7% |
| Mar 7, 2024 | $0.35 | $0.80 | +128.6% | $156M | +144.1% |
| Nov 2, 2023 | $0.37 | $0.37 | +0.0% | $133M | +108.1% |
| Aug 3, 2023 | $0.12 | $0.26 | +116.7% | $119M | +116.5% |
| May 4, 2023 | $0.03 | $0.32 | +1166.8% | $103M | +101.1% |
WLDN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Shahidehpour Mohammaddirector | Grant | 1,241 | — |
| Jun 18, 2026 | Downes Cynthiadirector | Grant | 1,241 | — |
| Jun 18, 2026 | McGinn Dennis Vdirector | Grant | 1,241 | — |
| Jun 18, 2026 | Brisbin Thomas Donalddirector | Grant | 1,241 | — |
| Jun 18, 2026 | Cohen Steven Adirector | Grant | 1,241 | — |
| Jun 18, 2026 | REDER WANDA KAYdirector | Grant | 1,241 | — |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Sell | 23,015 | $91.95 |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Sell | 7,956 | $92.65 |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Sell | 25,429 | $90.88 |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Option | 40,009 | $16.27 |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Option | 16,667 | $28.19 |
| May 15, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Sell | 276 | $93.74 |
| May 14, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Sell | 9,991 | $92.65 |
| May 14, 2026 | BIEBER MICHAEL Adirector, officer: PRESIDENT AND CEO | Option | 9,991 | $16.27 |
| Mar 26, 2026 | CHEN MICAHofficer: EXECUTIVE VP & GENERAL COUNSEL | Tax | 1,660 | $82.80 |
Source: WLDN SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full WLDN insider & 13F page →Willdan Group, Inc. company profile
Overview
Willdan Group, Inc. (NASDAQ:WLDN) is a professional services company founded in 1964 and headquartered in Anaheim, California. The company went public in November 2006 and has evolved from a traditional engineering consultancy into a specialized provider of energy efficiency and infrastructure consulting services. With nearly 1,700 employees across 53 offices in North America, Willdan has positioned itself as a key player in the clean energy transition, helping clients navigate the complexities of energy efficiency, grid modernization, and infrastructure development. The company serves a diverse client base including utilities, state and local governments, and commercial enterprises, with a particular focus on supporting the transition to cleaner energy systems and helping organizations reduce their carbon footprint.
Business
Willdan operates in the professional services sector, specifically focusing on energy consulting and engineering services that support the clean energy transition. The company operates through two primary business segments that work together to provide comprehensive solutions for energy and infrastructure challenges. The Energy segment represents the larger portion of the business and provides comprehensive energy efficiency and grid optimization services. This segment offers energy audits and surveys, program design and implementation, demand reduction strategies, grid optimization solutions, benchmarking analyses, design engineering, construction management, performance contracting, installation services, alternative financing, and measurement and verification services. The segment also develops and provides proprietary software and data analytics tools, including their AI-enhanced LoadSEER grid planning software. This segment generates approximately 60-65% of total revenue and serves primarily utilities and commercial clients. The Engineering and Consulting segment provides traditional municipal engineering and consulting services including building and safety services, city engineering and code enforcement, development plan review and inspection, disaster recovery planning, geotechnical and earthquake engineering, planning and surveying, contract staff support, program and construction management, structural engineering, transportation and traffic engineering, and water resources services. This segment also offers district administration, financial consulting, federal compliance services, and communications and technology services. This segment accounts for approximately 35-40% of total revenue and primarily serves state and local government clients. The company's client base is distributed across three main categories: state and local government clients (44% of revenue), utilities (41% of revenue), and commercial customers (15% of revenue, doubled from previous years). Willdan has been strategically expanding its commercial services, particularly in the rapidly growing data center market, as electricity demand from artificial intelligence and data centers creates new opportunities for energy consulting services.
Revenue model
Willdan generates revenue primarily through professional service fees charged to clients for consulting, engineering, and program management services. The company operates on a project-based model where it contracts with utilities, government agencies, and commercial clients to provide specialized energy and infrastructure services. Revenue is typically recognized as services are performed, with some contracts structured as multi-year engagements that provide recurring revenue streams. The company's business model benefits from several funding mechanisms that provide stability and growth opportunities. Utility programs are often funded through electricity bill surcharges approved by public utility commissions, creating a steady funding source that is less sensitive to economic cycles. Government contracts are funded through municipal budgets, federal programs like the Inflation Reduction Act, and state-level clean energy initiatives. Commercial clients pay directly for services, often as part of larger energy efficiency or infrastructure development projects. Factors that positively impact Willdan's margins include rising electricity rates, which increase the economic value of energy efficiency programs and drive demand for the company's services. The growing focus on decarbonization and clean energy transition creates additional opportunities, as does the emerging trend of significant electricity load growth driven by data centers, artificial intelligence, electrification of transportation, and reshoring of manufacturing. The company's software and data analytics offerings provide higher-margin revenue streams compared to traditional consulting services. Margin pressures can arise from increased competition for talent in the engineering and consulting sectors, which drives up labor costs. Project delays or scope changes can impact profitability, particularly on fixed-price contracts. Regulatory changes that reduce funding for energy efficiency programs or shift policy priorities away from clean energy could negatively impact demand. Additionally, the company's exposure to California's investor-owned utility programs has historically created some volatility, though recent contract amendments have reduced this risk.
Competitive moat
Willdan's competitive moat is moderate and primarily built on specialized expertise, long-term client relationships, and regulatory knowledge rather than strong structural advantages. The company has developed deep domain expertise in energy efficiency program design and implementation, particularly in California's complex regulatory environment, which creates barriers for new entrants who lack this specialized knowledge. Their relationships with utilities and government agencies, often spanning multiple contract cycles, provide some competitive protection and recurring revenue opportunities. The company's proprietary software tools, including the LoadSEER grid planning platform enhanced with artificial intelligence capabilities, provide some differentiation in the market. However, this technological moat is not particularly strong as software capabilities can be replicated by well-funded competitors or new entrants with technical expertise. Willdan faces competition from larger engineering and consulting firms like AECOM, Jacobs Engineering, and smaller specialized energy consulting companies. The professional services nature of the business means that competitive advantages are primarily based on reputation, expertise, and relationships rather than structural barriers to entry. The company's scale advantage in certain markets provides some protection, but this is not insurmountable for larger competitors. The most significant competitive threat comes from potential disruption by technology companies that could develop more advanced software solutions for energy management and grid optimization, or from larger consulting firms that could acquire similar capabilities through acquisitions. Additionally, changes in regulatory policy or utility program structures could erode the company's established market position. The company's moat is sufficient to maintain its current market position but may not be strong enough to prevent margin compression in a more competitive environment.
Risks & safety
Willdan demonstrates a moderate margin of safety with generally stable financial metrics, though some areas warrant attention. • Liquidity and Solvency: Strong current ratio of 1.61x and quick ratio of 1.61x indicate good short-term liquidity. Cash position of $38.4 million provides adequate working capital. Debt-to-equity ratio of 0.42x is manageable but has increased from previous periods. • Cash Generation: Positive free cash flow of $1.0 million in Q1 2025, though this represents a significant decline from $31.1 million in Q4 2024, indicating some seasonality or timing issues. Full-year 2024 free cash flow of $63.7 million demonstrates strong cash generation capability. • Valuation Metrics: Trading at 29.2x P/E ratio and 19.6x EV/EBITDA, which appears elevated relative to traditional value metrics. Price-to-book ratio of 2.23x suggests the stock is not trading at a significant discount to book value. • Profitability: Return on equity of 1.9% in Q1 2025 is relatively low, though this may reflect seasonal patterns. EBITDA margins have been improving, reaching over 10% in recent quarters. • Other Considerations: The company's dependence on government and utility funding provides some revenue stability but also creates exposure to regulatory and policy changes. Growing backlog and multi-year contract structure provide some earnings visibility.
Recent development
Over the past few years, Willdan has undergone significant strategic transformation, pivoting from a traditional engineering consultancy to a specialized clean energy and infrastructure services provider. The company has strategically repositioned itself to capitalize on the clean energy transition, particularly benefiting from the $370 billion in Inflation Reduction Act funding and the growing focus on decarbonization. A key strategic development has been the company's aggressive expansion into the commercial sector, particularly targeting the rapidly growing data center market. Commercial revenue has doubled to represent 15% of total revenue, with management identifying significant opportunities in serving major technology companies like Microsoft, Amazon, and AT&T as they expand their data center operations. This expansion addresses the emerging trend of substantial electricity load growth driven by artificial intelligence and data center proliferation. The company has pursued strategic acquisitions to enhance its capabilities and market reach. Recent acquisitions include Alpha Inspections for engineering services in Central Florida, Alternative Power Generation (APG) for utility-scale electrical engineering capabilities, and Enica Engineering to expand commercial energy consulting. These acquisitions have added approximately $50 million in annual revenue and expanded the company's geographic footprint, particularly in high-growth markets like Florida and Texas. Technology development has been another focus area, with Willdan developing AI-enhanced LoadSEER grid planning software to help utilities manage increasing electricity demand complexity. The company has also been integrating artificial intelligence tools across its service offerings to improve efficiency and provide more sophisticated analytics to clients. The company has successfully resolved previous contract challenges with California's investor-owned utilities through contract amendments that reduced risk and improved collaboration. Major contract wins include a $330 million five-year contract with Los Angeles Department of Water and Power and several new California energy efficiency programs, demonstrating the company's ability to secure large, long-term engagements that provide revenue stability.
WLDN company profile · for informational purposes only — not investment advice.
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