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Willdan Group, Inc.

Rank #135HypergrowthWatchlistCompare with other stocks

WLDN · Nasdaq · Industrials

Willdan Group, Inc. (WLDN) — Rank #135 by gross profitability (GP/assets 0.40) · ROE 15.0% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · CIK 0001370450 · all metrics point-in-time as of the filing date.

About

Willdan Group, Inc., a technical services company, focuses on the provision of energy and infrastructure solutions in the United States and Canada.

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The company operates in two segments: Energy, and Engineering and Consulting. The Energy segment offers in-depth energy planning studies, economic analysis, modeling and forecasting software, decarbonization, program design and implementation, energy efficiency, turnkey energy and infrastructure projects, grid modernization, and utility-scale electrical engineering and construction management services. It serves investor-owned and municipal utilities, as well as investors and hyperscalers, and state and local governments. The Engineering and Consulting segment provides municipal and civil engineering, building and safety, code enforcement, fire plan and inspection, city engineering, construction management, design engineering, planning, and financial and municipal advisory services. It serves state and local governments, school districts, and utility districts.

The company was founded in 1964 and is headquartered in Anaheim, California.

Industry
Engineering & Construction
Sector
Industrials
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 1

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

1,814

Industry

Engineering & Construction

Exchange

Nasdaq

11/12

Flags passed

WLDN passes 11/12 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.40
Return on equity
15.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.81
Current ratio
1.37×
Net cash
-$32.38M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.7%

Growth

1/2 pass
Revenue growth
20.5%
Piotroski F-Score
7 / 9
Share dilution
5.8%

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.40

Gross profitability (GP / assets)

0.40

Primary signal (Novy-Marx).

4th of 7 SIC 87 peers

Return on equity

15.0%

Gross margin

37.5%

5th of 7 SIC 87 peers

Revenue growth (YoY)

20.5%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

16.7%

Revenue CAGR (5Y)

11.8%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 35% above net income

Free cash flow

$70.70M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

34.5%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.7%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net debt $32.38M, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.81

2nd of 7 SIC 87 peers (best = lowest)

Current ratio

1.37×

7th of 7 SIC 87 peers

Quick ratio

0.61×

Net cash

-$32.38M

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.7 / 5

Fair
Share count trend
5.8%0/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
6.0%5/5 Strong

Lifecycle Phase History

20212026
Decline
Hypergrowth
Op. Leverage

Price History

WLDN+109.1% · +15.8% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports