Willdan Group Financials
This page shows Willdan Group (WLDN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Scale is finally translating into cash, letting Willdan’s growth fund itself while the balance sheet carries less debt.
From FY2023 to FY2026, operating cash flow rose from$39.2M to$80.1M even as accounts receivable edged down despite much higher revenue. That pairing suggests cash conversion improved with scale, and it helps explain how the company kept growing while debt-to-equity moved sharply lower.
FY2026 net margin finished above operating margin, which points to a tax benefit lifting reported earnings beyond the underlying operating result. That makes the operating margin at
The balance sheet looks less leverage-dependent than it did three years ago: long-term debt fell to
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Willdan Group's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Willdan Group has an operating margin of 6.5%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is up from 5.5% the prior year.
Willdan Group's revenue surged 20.5% year-over-year to $681.6M, reflecting rapid business expansion. This strong growth earns a score of 59/100.
Willdan Group carries a low D/E ratio of 0.15, meaning only $0.15 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Willdan Group's current ratio of 1.68 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Willdan Group has a free cash flow margin of 10.4%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
Willdan Group's ROE of 16.9% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 9.6% the prior year.
Willdan Group scores 5.47, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.1B) relative to total liabilities ($201.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Willdan Group passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Willdan Group generates $1.52 in operating cash flow ($80.1M OCF vs $52.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Willdan Group generated $681.6M in revenue in fiscal year 2026. This represents an increase of 20.5% from the prior year.
Willdan Group's EBITDA was $62.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.3% from the prior year.
Willdan Group reported $52.6M in net income in fiscal year 2026. This represents an increase of 132.9% from the prior year.
Willdan Group earned $3.49 per diluted share (EPS) in fiscal year 2026. This represents an increase of 120.9% from the prior year.
Cash & Balance Sheet
Willdan Group generated $70.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 11.1% from the prior year.
Willdan Group held $28.3M in cash against $45.4M in long-term debt as of fiscal year 2026.
Willdan Group had 15M shares outstanding in fiscal year 2026. This represents an increase of 4.4% from the prior year.
Margins & Returns
Willdan Group's gross margin was 37.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Willdan Group's operating margin was 6.5% in fiscal year 2026, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Willdan Group's net profit margin was 7.7% in fiscal year 2026, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.
Willdan Group's ROE was 16.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 7.3 percentage points from the prior year.
Capital Allocation
Willdan Group invested $9.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 11.6% from the prior year.
WLDN Income Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $155.1M-10.7% | $173.7M-4.6% | $182.0M+4.9% | $173.5M+13.8% | $152.4M+5.8% | $144.1M-9.0% | $158.3M+12.2% | $141.0M |
| Cost of Revenue | $92.0M | N/A | $114.9M+9.3% | $105.1M+11.0% | $94.7M | N/A | $106.7M+15.7% | $92.2M |
| Gross Profit | $63.2M | N/A | $67.1M-1.8% | $68.3M+18.5% | $57.7M | N/A | $51.6M+5.7% | $48.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $7.3M-30.1% | $10.4M-29.8% | $14.9M+25.8% | $11.8M+67.9% | $7.0M-35.3% | $10.9M+25.3% | $8.7M+34.5% | $6.4M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$1.3M+84.8% | -$8.4M-1573.3% | $569K+110.8% | -$5.3M-1138.5% | $506K-77.5% | $2.2M+1330.6% | $157K-78.2% | $720K |
| Net Income | $8.5M-54.4% | $18.7M+36.4% | $13.7M-11.1% | $15.4M+229.3% | $4.7M-39.0% | $7.7M+4.7% | $7.3M+59.9% | $4.6M |
| EPS (Diluted) | $0.55-55.3% | $1.23+36.7% | $0.90-12.6% | $1.03+221.9% | $0.32-39.6% | $0.53+3.9% | $0.51+54.5% | $0.33 |
WLDN Balance Sheet
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $511.7M-6.0% | $544.2M+7.1% | $507.9M+4.8% | $484.9M+2.9% | $471.2M+1.4% | $464.9M+3.9% | $447.3M+6.2% | $421.3M |
| Current Assets | $220.4M-12.4% | $251.7M+9.8% | $229.1M+11.3% | $205.8M+4.5% | $197.0M-16.4% | $235.5M+3.2% | $228.1M+13.8% | $200.4M |
| Cash & Equivalents | $28.3M-57.1% | $65.9M+99.1% | $33.1M+2.4% | $32.3M-15.7% | $38.4M-48.3% | $74.2M+39.6% | $53.1M+20.0% | $44.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $80.8M+25.0% | $64.6M-3.2% | $66.7M+20.4% | $55.4M-7.2% | $59.7M-8.9% | $65.6M+3.9% | $63.1M+1.8% | $62.0M |
| Goodwill | $179.5M0.0% | $179.5M+1.1% | $177.5M-2.7% | $182.4M+4.9% | $173.9M+23.4% | $141.0M+7.5% | $131.1M0.0% | $131.1M |
| Total Liabilities | $201.3M-15.9% | $239.4M+6.5% | $224.8M+2.7% | $218.9M-3.0% | $225.6M-2.1% | $230.5M+3.2% | $223.3M+7.2% | $208.3M |
| Current Liabilities | $131.5M-18.7% | $161.8M+4.1% | $155.3M+8.2% | $143.5M+17.4% | $122.2M-11.2% | $137.7M+7.1% | $128.6M+16.0% | $110.8M |
| Long-Term Debt | $45.4M-1.3% | $46.0M-1.3% | $46.6M-18.6% | $57.2M-32.3% | $84.4M+6.4% | $79.3M-2.9% | $81.8M-2.9% | $84.2M |
| Total Equity | $310.3M+1.8% | $304.9M+7.7% | $283.1M+6.5% | $265.9M+8.3% | $245.5M+4.8% | $234.3M+4.6% | $224.0M+5.1% | $213.0M |
| Retained Earnings | $98.2M+9.5% | $89.7M+26.4% | $71.0M+24.0% | $57.3M+36.9% | $41.8M+12.6% | $37.1M+26.1% | $29.5M+33.2% | $22.1M |
WLDN Cash Flow Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$24.4M-162.2% | $39.2M+221.7% | $12.2M-52.1% | $25.4M+667.5% | $3.3M-90.1% | $33.5M+210.6% | $10.8M+1111.8% | $889K |
| Capital Expenditures | $2.0M-17.8% | $2.5M+2.3% | $2.4M+9.1% | $2.2M-4.5% | $2.3M-1.2% | $2.3M+20.0% | $1.9M-9.5% | $2.2M |
| Free Cash Flow | -$26.4M-171.9% | $36.7M+275.7% | $9.8M-57.9% | $23.2M+2218.3% | $1.0M-96.8% | $31.1M+252.7% | $8.8M+797.5% | -$1.3M |
| Investing Cash Flow | -$2.6M+51.4% | -$5.3M-660.0% | -$698K+85.7% | -$4.9M+86.0% | -$34.8M-258.5% | -$9.7M-399.1% | -$1.9M+9.6% | -$2.1M |
| Financing Cash Flow | -$5.4M-407.8% | -$1.1M+90.1% | -$10.7M+59.6% | -$26.6M-511.9% | -$4.3M-60.1% | -$2.7M-30233.3% | $9K+100.6% | -$1.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
WLDN Financial Ratios
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.7% | N/A | 36.9%-2.5pp | 39.4%+1.5pp | 37.8% | N/A | 32.6%-2.0pp | 34.6% |
| Operating Margin | 4.7%-1.3pp | 6.0%-2.2pp | 8.2%+1.4pp | 6.8%+2.2pp | 4.6%-2.9pp | 7.5%+2.1pp | 5.5%+0.9pp | 4.6% |
| Net Margin | 5.5%-5.3pp | 10.8%+3.2pp | 7.5%-1.4pp | 8.9%+5.8pp | 3.1%-2.3pp | 5.3%+0.7pp | 4.6%+1.4pp | 3.3% |
| Return on Equity | 2.8%-3.4pp | 6.1%+1.3pp | 4.9%-1.0pp | 5.8%+3.9pp | 1.9%-1.4pp | 3.3%0.0pp | 3.3%+1.1pp | 2.2% |
| Return on Assets | 1.7%-1.8pp | 3.4%+0.7pp | 2.7%-0.5pp | 3.2%+2.2pp | 1.0%-0.7pp | 1.7%0.0pp | 1.6%+0.6pp | 1.1% |
| Current Ratio | 1.68+0.1 | 1.56+0.1 | 1.48+0.0 | 1.43-0.2 | 1.61-0.1 | 1.71-0.1 | 1.77-0.0 | 1.81 |
| Debt-to-Equity | 0.150.0 | 0.15-0.0 | 0.16-0.1 | 0.21-0.1 | 0.340.0 | 0.34-0.0 | 0.37-0.0 | 0.40 |
| FCF Margin | -17.0%-38.1pp | 21.1%+15.8pp | 5.4%-8.0pp | 13.4%+12.7pp | 0.7%-20.9pp | 21.6%+16.0pp | 5.6%+6.5pp | -0.9% |
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Frequently Asked Questions
What is Willdan Group's annual revenue?
Willdan Group (WLDN) reported $681.6M in total revenue for fiscal year 2026. This represents a 20.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Willdan Group's revenue growing?
Willdan Group (WLDN) revenue grew by 20.5% year-over-year, from $565.8M to $681.6M in fiscal year 2026.
Is Willdan Group profitable?
Yes, Willdan Group (WLDN) reported a net income of $52.6M in fiscal year 2026, with a net profit margin of 7.7%.
What is Willdan Group's EBITDA?
Willdan Group (WLDN) had EBITDA of $62.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Willdan Group have?
As of fiscal year 2026, Willdan Group (WLDN) had $28.3M in cash and equivalents against $45.4M in long-term debt.
What is Willdan Group's gross margin?
Willdan Group (WLDN) had a gross margin of 37.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Willdan Group's operating margin?
Willdan Group (WLDN) had an operating margin of 6.5% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Willdan Group's net profit margin?
Willdan Group (WLDN) had a net profit margin of 7.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Willdan Group's return on equity (ROE)?
Willdan Group (WLDN) has a return on equity of 16.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Willdan Group's free cash flow?
Willdan Group (WLDN) generated $70.7M in free cash flow during fiscal year 2026. This represents a 11.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Willdan Group's operating cash flow?
Willdan Group (WLDN) generated $80.1M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Willdan Group's total assets?
Willdan Group (WLDN) had $511.7M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Willdan Group's capital expenditures?
Willdan Group (WLDN) invested $9.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Willdan Group's current ratio?
Willdan Group (WLDN) had a current ratio of 1.68 as of fiscal year 2026, which is generally considered healthy.
What is Willdan Group's debt-to-equity ratio?
Willdan Group (WLDN) had a debt-to-equity ratio of 0.15 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Willdan Group's return on assets (ROA)?
Willdan Group (WLDN) had a return on assets of 10.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Willdan Group's Altman Z-Score?
Willdan Group (WLDN) has an Altman Z-Score of 5.47, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Willdan Group's Piotroski F-Score?
Willdan Group (WLDN) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Willdan Group's earnings high quality?
Willdan Group (WLDN) has an earnings quality ratio of 1.52x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Willdan Group?
Willdan Group (WLDN) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.