SOLV Energy, Inc. (MWH)

SOLV Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Revenue	2,490	1,871	2,115	2,329
Revenue Growth (YoY)	33.13%	-11.56%	-9.16%	-
Cost of Revenue	2,026	1,606	2,002	2,227
Gross Profit	464.23	265.17	113.71	101.99
Selling, General & Admin	211.04	134.23	96.98	104.25
Amortization of Goodwill & Intangibles	57.75	66.35	67.05	79
Operating Expenses	268.79	200.57	164.03	183.25
Operating Income	195.44	64.6	-50.32	-81.27
Interest Expense	-52.73	-55.29	-59.7	-39.66
Interest & Investment Income	7.16	4.6	1.63	0.2
Other Non Operating Income (Expenses)	3.48	0.9	1.32	-
EBT Excluding Unusual Items	153.35	14.8	-107.07	-120.72
Gain (Loss) on Sale of Assets	-	-0.22	-	-
Other Unusual Items	-	-4.4	-	-
Pretax Income	153.35	10.19	-107.07	-120.72
Income Tax Expense	3.64	0.6	0.2	0.01
Earnings From Continuing Operations	149.7	9.59	-107.27	-120.73
Minority Interest in Earnings	-0.52	-0	-0	-0
Net Income	149.18	9.59	-107.27	-120.73
Net Income to Common	149.18	9.59	-107.27	-120.73
Net Income Growth	1455.45%	-	-	-
Free Cash Flow	310.23	109.04	35.89	56.67
Gross Margin	18.64%	14.17%	5.38%	4.38%
Operating Margin	7.85%	3.45%	-2.38%	-3.49%
Profit Margin	5.99%	0.51%	-5.07%	-5.18%
Free Cash Flow Margin	12.46%	5.83%	1.70%	2.43%
EBITDA	280.99	148.97	30.96	6.56
EBITDA Margin	11.28%	7.96%	1.46%	0.28%
D&A For EBITDA	85.54	84.37	81.28	87.82
EBIT	195.44	64.6	-50.32	-81.27
EBIT Margin	7.85%	3.45%	-2.38%	-3.49%
Effective Tax Rate	2.38%	5.87%	-	-

Updated Mar 19, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q