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Engineering, procurement and construction contractor building utility-scale solar and battery-storage projects.
Engineering, procurement and construction contractor building utility-scale solar and battery-storage projects.
Paid by project owners to design, buy equipment for and build solar and battery sites, under construction contracts where revenue is recognised as work progresses. Work is mostly won by competitive bid, and a few large projects can dominate a year's activity. Its operations-and-maintenance contracts provide steadier income after the sites are built.
In one line: A pure-play solar/battery-storage EPC contractor.
Moat: narrow (process know-how, installed base). Specialized solar/storage construction track record since 2008, though EPC work is competitively bid.
Headquarters: San Diego, California, US · Founded: 2008 · Employees: 2,600
Size SOLV Energy (MWH) is a United States Industrials company (Engineering & Construction) with a market value of $5.19B, the 1160th largest of 3,117 United States companies the cockpit tracks. Shares closed at $25.64 on 6 Nov 2026.
Performance Over six months the shares fell 40.5%, against -7.6% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth The operating margin is 7.8% (peer median 7.8%).
Valuation It trades at 14.9× forward earnings against a peer median of 14.9× (11th cheapest of 21).
Capital Return on invested capital runs 1.6 points above its cost of capital (15.1% WACC).
Backlog Backlog (remaining performance obligations) was $3.55B at 30 Jun 2026. Backlog detail →
Short interest Short interest is 6.0% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | |
|---|---|---|
| Revenue | n/a | $2.49B |
| Revenue growth | — | — |
| Gross profit | n/a | $406M |
| EBITDA | n/a | $281M |
| Net income | n/a | $149M |
| Free cash flow | n/a | $310M |
| Capital expenditure | n/a | $21.4M |
| Total debt | $83.6M | $472M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SOLV Energy MWH | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% |
| MasTec MTZ | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% |
| Primoris Services PRIM | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MWH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.2% | -1.5% | 10th highest of 21 |
| 6-month return | -40.5% | -7.6% | 4th lowest of 21 |
| Distance from 52-week high | -47.0% | -26.0% | 4th lowest of 21 |
| Operating margin | 7.8% | 7.8% | 11th highest of 21 |
| Forward P/E | 14.9× | 14.9× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 26.2% | 2.9% | most demanding of 16 |
| ROIC minus cost of capital | +1.6 pp | +1.7 pp | 9th lowest of 18 |
| EV / EBITDA | 18.7× | 9.6× | 2nd most expensive of 16 |
| Net debt / EBITDA | -1.0× | 1.6× | 5th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SOLV Energy MWH | United States | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% | n/a |
| CTF Services 0659.HK | Hong Kong | $5.13B | +2% | +12% | 11% | 13.8× | 1.7% | -0.8% |
| Kandenko 1942.T | Japan | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% | +5.9% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
| MAIRE MAIRE.MI | Italy | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% | +22.1% |
| Tutor Perini TPC | United States | $4.73B | +8% | +25% | 4% | 18.8× | 9.6% | +0.8% |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
SOLV Energy reported $3.55B of remaining performance obligations at 30 Jun 2026.