Latest Ratios: P/E Ratio 21.1x · EV/EBITDA 17.7x · ROE 19.5%. (2002–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.6B | $547M | $293M | $232M | $439M | $492M | $367M | $332M | $219M | $193M |
| Enterprise Value | $1.1B | $1.6B | $581M | $383M | $347M | $546M | $599M | $517M | $388M | $208M | $177M |
| P/E Ratio → | 21.07 | 30.56 | 24.31 | 26.88 | — | — | — | 76.12 | 33.01 | 18.14 | 23.29 |
| P/S Ratio | 1.63 | 2.36 | 0.97 | 0.57 | 0.54 | 1.24 | 1.26 | 0.83 | 1.22 | 0.80 | 0.93 |
| P/B Ratio | 3.64 | 5.27 | 2.33 | 1.46 | 1.28 | 2.45 | 2.91 | 2.20 | 2.30 | 3.10 | 3.88 |
| P/FCF | 15.72 | 22.74 | 8.59 | 9.99 | — | 336.29 | 11.72 | 73.68 | 60.76 | 24.65 | 9.70 |
| P/OCF | 13.88 | 20.07 | 7.59 | 7.46 | 24.62 | 44.73 | 10.46 | 31.60 | 43.86 | 19.80 | 8.96 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.36 | 1.03 | 0.75 | 0.81 | 1.54 | 1.53 | 1.17 | 1.43 | 0.76 | 0.85 |
| EV / EBITDA | 17.74 | 25.64 | 12.60 | 9.95 | 33.27 | 64.52 | 237.88 | 20.80 | 20.44 | 11.70 | 12.02 |
| EV / EBIT | 25.25 | 35.22 | 16.84 | 15.97 | — | — | — | 54.06 | 30.38 | 15.08 | 15.37 |
| EV / FCF | — | 22.79 | 9.12 | 13.08 | — | 418.35 | 14.27 | 103.66 | 71.03 | 23.40 | 8.90 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.5% | 37.5% | 35.8% | 35.2% | 33.5% | 38.4% | 33.1% | 30.5% | 34.1% | 28.1% | 31.4% |
| Operating Margin | 6.5% | 6.5% | 5.5% | 4.3% | -1.6% | -2.5% | -4.2% | 2.1% | 4.7% | 5.0% | 5.5% |
| Net Profit Margin | 7.7% | 7.7% | 4.0% | 2.1% | -2.0% | -2.4% | -3.7% | 1.1% | 3.7% | 4.4% | 4.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.5% | 19.5% | 10.4% | 5.7% | -4.7% | -4.8% | -8.6% | 3.1% | 9.3% | 20.1% | 19.0% |
| ROA | 10.4% | 10.4% | 5.1% | 2.6% | -2.1% | -2.1% | -3.4% | 1.3% | 4.6% | 9.8% | 9.2% |
| ROIC | 11.5% | 11.5% | 8.4% | 5.6% | -1.8% | -2.3% | -4.1% | 2.7% | 7.4% | 22.0% | 28.5% |
| ROCE | 12.4% | 12.4% | 10.0% | 7.6% | -2.5% | -3.1% | -5.5% | 3.6% | 8.7% | 19.7% | 22.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.23 | 0.23 | 0.46 | 0.57 | 0.68 | 0.66 | 0.80 | 0.93 | 0.49 | 0.05 | 0.13 |
| Debt / EBITDA | 1.10 | 1.10 | 2.34 | 2.96 | 11.83 | 13.98 | 53.72 | 6.24 | 3.76 | 0.19 | 0.45 |
| Net Debt / Equity | — | 0.01 | 0.14 | 0.45 | 0.63 | 0.60 | 0.63 | 0.89 | 0.39 | -0.16 | -0.32 |
| Net Debt / EBITDA | 0.05 | 0.05 | 0.73 | 2.36 | 10.99 | 12.66 | 42.43 | 6.02 | 2.95 | -0.62 | -1.09 |
| Debt / FCF | — | 0.05 | 0.53 | 3.10 | — | 82.07 | 2.54 | 29.98 | 10.26 | -1.25 | -0.81 |
| Interest Coverage | 7.96 | 7.96 | 4.42 | 2.55 | -1.15 | -2.21 | -2.88 | 1.95 | 18.24 | 124.34 | 64.50 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 1.71 | 1.67 | 1.37 | 1.27 | 1.34 | 1.33 | 1.49 | 1.48 | 1.47 |
| Quick Ratio | 1.56 | 1.56 | 1.71 | 1.67 | 1.28 | 1.27 | 1.34 | 1.33 | 1.49 | 1.48 | 1.47 |
| Cash Ratio | 0.41 | 0.41 | 0.54 | 0.20 | 0.07 | 0.10 | 0.24 | 0.04 | 0.17 | 0.26 | 0.44 |
| Asset Turnover | — | 1.25 | 1.22 | 1.23 | 1.05 | 0.90 | 0.97 | 1.01 | 0.90 | 1.98 | 1.93 |
| Inventory Turnover | — | — | — | — | 26.74 | — | — | — | — | — | — |
| Days Sales Outstanding | — | 95.45 | 100.89 | 117.87 | 125.91 | 136.99 | 113.83 | 134.90 | 154.30 | 86.80 | 87.30 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 3.3% | 4.1% | 3.7% | — | — | — | 1.3% | 3.0% | 5.5% | 4.3% |
| FCF Yield | 6.4% | 4.4% | 11.6% | 10.0% | — | 0.3% | 8.5% | 1.4% | 1.6% | 4.1% | 10.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Shares Outstanding | — | $15M | $14M | $14M | $13M | $12M | $12M | $12M | $10M | $9M | $9M |
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying WLDN stock.
Willdan Group, Inc.'s current P/E ratio is 21.1x. The historical average is 23.8x. This places it at the 50th percentile of its historical range.
Willdan Group, Inc.'s current EV/EBITDA is 17.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.5x.
Willdan Group, Inc.'s return on equity (ROE) is 19.5%. The historical average is 5.1%.
Based on historical data, Willdan Group, Inc. is trading at a P/E of 21.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Willdan Group, Inc. has 37.5% gross margin and 6.5% operating margin.
Willdan Group, Inc.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Acquisition integration and goodwill risk
Metrics are mathematically derived from official filings.
Margin Expansion Masks Earnings Quality
Gross margin improved to 37.9% in 2026Q2 from 32.0% in 2024Q2, per financial statements, but net income exceeded operating income by $4.6M, suggesting non-operating gains inflate reported profitability.
The 590 basis point gross margin expansion over eight quarters indicates improved project mix or cost controls, yet the gap between net margin (10.5%) and operating margin (8.5%) in 2026Q2 implies a significant non-operating contribution. Investors should monitor whether this gap persists, as it may distort the true earning power of the core engineering business. The sequential dip in gross margin from 40.7% in 2026Q1 to 37.9% in 2026Q2 warrants attention, as it could signal integration costs from the recent acquisition.
Return on Capital Shows Cyclical Recovery
ROIC improved to 4.0% in 2026Q2 from 1.4% in 2024Q1, as reported in financial statements, but remains below the cost of capital, suggesting value creation is still nascent.
The upward trajectory in ROIC from 1.4% to 4.0% over ten quarters reflects both margin expansion and improved asset utilization, yet the absolute level remains modest for an engineering firm. ROE of 7.4% in 2026Q2, while improved from 1.5% in 2024Q1, still lags peers like Tetra Tech (23.8%) and MYR Group (24.2%), indicating that the company is not yet compounding capital at an industry-leading rate. The recent acquisition may boost returns if synergies materialize, but the goodwill balance of $212.2M, representing 33.4% of total assets, poses a risk to future returns if impairments occur.
Working Capital Swings Signal Project Timing
DSO spiked to 105 days in 2026Q1 before normalizing to 52 days in 2026Q2, per reported figures, while CCC data is unavailable, indicating significant project-driven timing effects.
The volatility in DSO, ranging from 52 to 111 days over the past ten quarters, suggests that revenue recognition and billing cycles are heavily influenced by project milestones. The sharp drop in DSO from 105 to 52 days sequentially may indicate improved collections or a shift in project mix, but it also highlights the lumpiness of working capital. Asset turnover improved to 0.40 in 2026Q2 from 0.30 in 2024Q1, reflecting better revenue generation per dollar of assets, yet the low absolute level underscores the capital intensity of the engineering business.
Leverage Eases Despite Acquisition Debt
D/E improved to 0.25 in 2026Q2 from 0.55 in 2024Q1, while interest coverage rose to 18.58 from 2.84, as per financial statements, indicating a more comfortable debt service position.
The deleveraging trend is notable given the $50.5M acquisition outflow in 2026Q2, which was funded partly by equity issuance, as evidenced by the 64.7% year-over-year increase in equity. Interest coverage of 18.58 in 2026Q2 is robust, but it was as low as 2.84 in 2024Q1, highlighting the cyclicality of earnings. The D/EBITDA ratio of 2.77 in 2026Q2 is down from 12.55 in 2024Q1, suggesting that EBITDA growth has outpaced debt accumulation, but investors should monitor whether the acquisition-driven debt remains manageable if EBITDA growth slows.
Liquidity Buffer Thins Sequentially
Current ratio fell to 1.37 in 2026Q2 from 1.68 in 2026Q1, while cash dropped to $39.2M, per the balance sheet, indicating a tighter short-term cushion.
The sequential decline in the current ratio, coupled with a modest cash balance, suggests that the acquisition has absorbed available liquidity. However, the quick ratio equals the current ratio at 1.37, indicating that inventory is not a significant factor, which is typical for a service-oriented engineering firm. Under a severe stress scenario, such as a prolonged project delay or an economic downturn, the current ratio could approach 1.0, limiting financial flexibility. The company's ability to generate positive free cash flow in 2026Q2 (FCF margin of 6.9%) provides some offset, but the volatility in FCF margins (-17.0% to 21.1%) underscores the need for careful cash management.
EV/EBITDA Misleads in Acquisition-Driven Growth
EV/EBITDA of 20.63 appears rich, but as reported in financial statements, EBITDA is inflated by non-operating gains and acquisition-related adjustments, obscuring the true cash-generative capacity.
The EV/EBITDA multiple is commonly used to value engineering firms, but for WLDN, it may be misapplied because EBITDA includes non-operating gains that are not sustainable. In 2026Q2, net income exceeded operating income by $4.6M, suggesting that EBITDA is also boosted by these items. A more appropriate metric would be EV/EBIT or EV/operating cash flow, which better captures the core earnings power. Additionally, the significant goodwill on the balance sheet means that EV includes acquisition premiums that may not be reflected in EBITDA, further distorting the multiple. Investors should adjust for these items or use a normalized EBITDA figure to assess valuation accurately.