# Willdan Group, Inc. (WLDN)

Informational only - not investment advice.

CIK: 0001370450
SIC: 8711 Services-Engineering Services
SIC breadcrumb: [Services](/division/I/) > [SIC Major Group 87](/major-group/87/) > [SIC 8711 Services-Engineering Services](/industry/8711/)
Latest 10-K filed: 2026-02-27
SEC page: https://www.sec.gov/edgar/browse/?CIK=1370450
Filing source: https://www.sec.gov/Archives/edgar/data/1370450/000110465926020767/wldn-20260102x10k.htm

## At a glance

FY2025 · period end 2026-01-02 · filed 2026-02-27 · accession 0001104659-26-020767 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001370450.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 681,552,000 USD | 2025 | verified |
| Net income | 52,557,000 USD | 2025 | verified |
| Assets | 544,211,000 USD | 2025 | verified |
| Free cash flow | 70,697,000 USD | 2025 | computed |
| Net margin | 7.71% | 2025 | computed |
| Operating margin | 6.48% | 2025 | computed |
| Revenue YoY | +20.46% | 2025 | computed |
| ROE | 17.24% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | WLDN | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 7.7% | 4.0% | 73 | 34 |
| Operating margin | 6.5% | 6.9% | 48 | 34 |
| Revenue growth | 20.5% | 3.7% | 85 | 35 |
| FCF margin | 10.4% | 8.1% | 59 | 35 |
| ROE | 17.2% | 9.9% | 59 | 35 |
| ROA | 9.7% | 4.5% | 82 | 35 |
| Liabilities / equity | 0.79 | 1.41 | 18 | 35 |
| Current ratio | 1.56 | 1.40 | 56 | 35 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 87 SIC Major Group 87, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 681552000 | USD | 2025 | 2026-02-27 |
| Net income | 52557000 | USD | 2025 | 2026-02-27 |
| Assets | 544211000 | USD | 2025 | 2026-02-27 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-27. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001370450.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 208,941,000 | 273,352,000 | 272,252,000 | 443,099,000 | 390,980,000 | 353,755,000 | 429,138,000 | 510,095,000 | 565,798,000 | 681,552,000 |
| Net income |  |  |  |  | -14,496,000 | -8,417,000 | -8,448,000 | 10,926,000 | 22,570,000 | 52,557,000 |
| Operating income | 11,544,000 | 13,704,000 | 12,771,000 | 9,363,000 | -16,227,000 | -8,691,000 | -7,063,000 | 22,074,000 | 31,353,000 | 44,147,000 |
| Gross profit |  |  |  |  |  | 135,874,000 | 143,579,000 | 179,767,000 | 202,782,000 | 255,682,000 |
| Diluted EPS | 0.97 | 1.32 | 1.03 | 0.41 | -1.23 | -0.68 | -0.65 | 0.80 | 1.58 | 3.49 |
| Operating cash flow | 21,600,000 | 11,069,000 | 7,568,000 | 11,621,000 | 47,025,000 | 9,804,000 | 9,433,000 | 39,214,000 | 72,073,000 | 80,084,000 |
| Capital expenditures | 1,662,000 | 2,178,000 | 2,105,000 | 6,637,000 | 5,076,000 | 8,500,000 | 9,602,000 | 9,925,000 | 8,413,000 | 9,387,000 |
| Assets | 108,347,000 | 138,172,000 | 300,911,000 | 439,913,000 | 403,024,000 | 394,422,000 | 409,674,000 | 415,588,000 | 464,863,000 | 544,211,000 |
| Liabilities | 58,429,000 | 67,520,000 | 156,622,000 | 272,635,000 | 233,860,000 | 215,201,000 | 228,172,000 | 215,743,000 | 230,520,000 | 239,360,000 |
| Stockholders' equity | 49,918,000 | 70,652,000 | 144,289,000 | 167,278,000 | 169,164,000 | 179,221,000 | 181,502,000 | 199,845,000 | 234,343,000 | 304,851,000 |
| Cash and cash equivalents | 22,668,000 | 14,424,000 | 15,259,000 | 5,452,000 | 28,405,000 | 11,221,000 | 8,806,000 | 23,397,000 | 74,158,000 | 65,919,000 |
| Free cash flow | 19,938,000 | 8,891,000 | 5,463,000 | 4,984,000 | 41,949,000 | 1,304,000 | -169,000 | 29,289,000 | 63,660,000 | 70,697,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  |  |  |  | -3.71% | -2.38% | -1.97% | 2.14% | 3.99% | 7.71% |
| Operating margin | 5.53% | 5.01% | 4.69% | 2.11% | -4.15% | -2.46% | -1.65% | 4.33% | 5.54% | 6.48% |
| Return on equity |  |  |  |  | -8.57% | -4.70% | -4.65% | 5.47% | 9.63% | 17.24% |
| Return on assets |  |  |  |  | -3.60% | -2.13% | -2.06% | 2.63% | 4.86% | 9.66% |
| Liabilities / equity | 1.17 | 0.96 | 1.09 | 1.63 | 1.38 | 1.20 | 1.26 | 1.08 | 0.98 | 0.79 |
| Current ratio | 1.47 | 1.48 | 1.49 | 1.33 | 1.34 | 1.27 | 1.37 | 1.67 | 1.71 | 1.56 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/WLDN/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-07. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001370450.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q2 | 2022-07-01 |  |  | -0.33 | reported discrete quarter |
| 2022-Q3 | 2022-09-30 |  | 76,000 | 0.01 | reported discrete quarter |
| 2022-Q4 | 2022-12-30 |  | -425,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2023-Q1 | 2023-03-31 |  | 932,000 | 0.07 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 | 119,077,000 | 397,000 | 0.03 | reported discrete quarter |
| 2023-Q3 | 2023-09-29 | 132,738,000 | 1,566,000 | 0.11 | reported discrete quarter |
| 2023-Q4 | 2023-12-29 | 155,677,000 | 8,031,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-29 | 122,489,000 | 2,942,000 | 0.21 | reported discrete quarter |
| 2024-Q2 | 2024-06-28 | 140,996,000 | 4,594,000 | 0.33 | reported discrete quarter |
| 2024-Q3 | 2024-09-27 | 158,252,000 | 7,346,000 | 0.51 | reported discrete quarter |
| 2024-Q4 | 2024-12-27 | 144,061,000 | 7,688,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q2 | 2025-07-04 | 173,473,000 |  | 1.03 | reported discrete quarter |
| 2025-Q3 | 2025-10-03 | 182,006,000 |  | 0.90 | reported discrete quarter |
| 2025-Q4 | 2026-01-02 | 173,687,000 |  |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-04-03 | 155,114,000 | 8,530,000 | 0.55 | reported discrete quarter |
| 2026-Q2 | 2026-07-03 | 231,028,000 | 24,345,000 | 1.58 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from WLDN's latest 10-K: [/company/WLDN/business/](/company/WLDN/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from WLDN's latest 10-K: [/company/WLDN/risk-factors/](/company/WLDN/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1370450/000110465926092196/wldn-20260703x10q.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-07
Report date: 2026-07-03

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Our Company

We are a technical services company focused on energy and infrastructure solutions. Our solutions include energy planning and analytics, consulting, software, public finance, engineering, and program implementation. We serve utilities, state and local governments, and commercial customers in the United States and Canada.

Our broad portfolio of services operates within two financial reporting segments: (1) Energy and (2) Engineering and Consulting. The interfaces and synergies between these segments are important elements of our strategy to design and deliver trusted, comprehensive, innovative, and proven solutions and services for our customers.

Our Energy segment addresses power grid resiliency, efficiency, and reliability. Services include 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. Clients in this segment are investor-owned and municipal utilities, commercial clients including retailers, pharmaceuticals, industrial concerns and hyperscalers, and state and local governments, school districts and government agencies.

Our Engineering & Consulting segment addresses sustainability and growth in civil infrastructure. We often serve as a municipality’s engineering department. Services include 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. Clients in this segment are state and local governments, school districts, and utility districts.

We were founded in 1964 and are headquartered in Anaheim, California.

​

38

Table of Contents

Results of Operations

Second Quarter Overview

The following table sets forth, for the periods indicated, certain information derived from our condensed consolidated statements of comprehensive income(1):

[[GREPCENT_TABLE]]
[["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["\u200b","\u200b","Three Months Ended","\u200b"],["\u200b","\u200b","July 3,","\u200b","July 4,","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["\u200b","\u200b \u200b \u200b \u200b","2026","\u200b","2025","\u200b","\u200b","$ Change","\u200b","% Change","\u200b"],["\u200b","\u200b","(in thousands, except percentages)","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Contract revenue","\u200b","$","231,028","\u200b \u200b \u200b \u200b","100.0","%","\u200b \u200b \u200b \u200b","$","173,473","\u200b \u200b \u200b \u200b","100.0","%","\u200b \u200b \u200b \u200b","$","57,555","\u200b \u200b \u200b \u200b","33.2","%"],["Direct costs of contract revenue:","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Salaries and wages","\u200b","\u200b","29,788","\u200b","12.9","\u200b","\u200b","\u200b","26,643","\u200b","15.4","\u200b","\u200b","\u200b","3,145","\u200b","11.8","\u200b"],["Subcontractor services and other direct costs","\u200b","\u200b","113,786","\u200b","49.3","\u200b","\u200b","\u200b","78,505","\u200b","45.3","\u200b","\u200b","\u200b","35,281","\u200b","44.9","\u200b"],["Total direct costs of contract revenue","\u200b","\u200b","143,574","\u200b","62.1","\u200b","\u200b","\u200b","105,148","\u200b","60.6","\u200b","\u200b","\u200b","38,426","\u200b","36.5","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Gross profit","\u200b","\u200b","87,454","\u200b","37.9","\u200b","\u200b","\u200b","68,325","\u200b","39.4","\u200b","\u200b","\u200b","19,129","\u200b","28.0","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["General and administrative expenses:","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Salaries and wages, payroll taxes and employee benefits","\u200b","\u200b","40,467","\u200b","17.5","\u200b","\u200b","\u200b","32,576","\u200b","18.8","\u200b","\u200b","\u200b","7,891","\u200b","24.2","\u200b"],["Facilities and facility related","\u200b","\u200b","2,535","\u200b","1.1","\u200b","\u200b","\u200b","2,369","\u200b","1.4","\u200b","\u200b","\u200b","166","\u200b","7.0","\u200b"],["Stock-based compensation","\u200b","\u200b","4,811","\u200b","2.1","\u200b","\u200b","\u200b","3,182","\u200b","1.8","\u200b","\u200b","\u200b","1,629","\u200b","51.2","\u200b"],["Depreciation and amortization","\u200b","\u200b","6,971","\u200b","3.0","\u200b","\u200b","\u200b","5,504","\u200b","3.2","\u200b","\u200b","\u200b","1,467","\u200b","26.7","\u200b"],["Other","\u200b","\u200b","12,936","\u200b","5.6","\u200b","\u200b","\u200b","12,878","\u200b","7.4","\u200b","\u200b","\u200b","58","\u200b","0.5","\u200b"],["Total general and administrative expenses","\u200b","\u200b","67,720","\u200b","29.3","\u200b","\u200b","\u200b","56,509","\u200b","32.6","\u200b","\u200b","\u200b","11,211","\u200b","19.8","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Income (loss) from operations","\u200b","\u200b","19,734","\u200b","8.5","\u200b","\u200b","\u200b","11,816","\u200b","6.8","\u200b","\u200b","\u200b","7,918","\u200b","67.0","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Other income (expense):","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Interest expense, net","\u200b","\u200b","(1,086)","\u200b","(0.5)","\u200b","\u200b","\u200b","(2,186)","\u200b","(1.3)","\u200b","\u200b","\u200b","1,100","\u200b","(50.3)","\u200b"],["Other, net","\u200b","\u200b","439","\u200b","0.2","\u200b","\u200b","\u200b","551","\u200b","0.3","\u200b","\u200b","\u200b","(112)","\u200b","(20.3)","\u200b"],["Total other income (expense)","\u200b","\u200b","(647)","\u200b","(0.3)","\u200b","\u200b","\u200b","(1,635)","\u200b","(0.9)","\u200b","\u200b","\u200b","988","\u200b","(60.4)","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Income (Loss) before income tax expense","\u200b","\u200b","19,087","\u200b","8.3","\u200b","\u200b","\u200b","10,181","\u200b","5.9","\u200b","\u200b","\u200b","8,906","\u200b","87.5","\u200b"],["Income tax expense (benefit)","\u200b","\u200b","(5,258)","\u200b","(2.3)","\u200b","\u200b","\u200b","(5,255)","\u200b","(3.0)","\u200b","\u200b","\u200b","(3)","\u200b","0.1","\u200b"],["Net income (loss)","\u200b","$","24,345","\u200b","10.5","\u200b","\u200b","$","15,436","\u200b","8.9","\u200b","\u200b","$","8,909","\u200b","57.7","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["(1)","Percentages are expressed as a percentage of contract revenue and may not total due to rounding."]]
[[/GREPCENT_TABLE]]

​

​

39

Table of Contents

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1370450/000110465926020767/wldn-20260102x10k.htm
Complete FY 2026 MD&A: /company/WLDN/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-02-27
Report date: 2026-01-02

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Our Company

We are a provider of professional, technical and consulting services to utilities, private industry, and public agencies at all levels of government. As resource and infrastructure needs undergo continuous change, we help organizations and their communities evolve and thrive by providing a wide range of technical services for energy solutions, greenhouse gas reduction, and government infrastructure. Through engineering, program management, policy advisory, and software and data analytics, we plan, design and deliver comprehensive, innovative, cost-effective, and proven solutions to improve efficiency, resiliency, and sustainability in energy and infrastructure to our clients.

Our broad portfolio of services operates within two financial reporting segments: (1) Energy and (2) Engineering and Consulting. The interfaces and synergies between these segments are important elements of our strategy to design and deliver trusted, comprehensive, innovative, and proven solutions and services for our customers.

Our Energy segment provides specialized, innovative, comprehensive energy solutions to businesses, utilities, state agencies, municipalities, and non-profit organizations. Our experienced engineers, consultants, and staff help our clients realize cost and energy savings by tailoring efficient and cost-effective solutions to assist in optimizing energy spend. Our energy services include comprehensive audit and surveys, program design, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, AI data center power solutions, construction management, performance contracting, installation, alternative financing, measurement and verification services, and advances in software and data analytics for long-term planning.

Our Engineering and Consulting segment provides civil engineering and construction management, building and safety services, city engineering and planning support, civil design, geotechnical services, and material testing. Our capabilities span traffic, bridges, rail, port, water systems, and other major infrastructure projects. In addition to technical expertise, we provide economic and financial consulting that helps agencies plan, fund, and maintain both daily operations and long-term capital programs. We also support the mandated reporting and other requirements associated with these financings. We provide financial advisory services for municipal securities but do not provide underwriting services.

​

37

Table of Contents

Results of Operations

Summary comparison of fiscal years 2025, 2024, and 2023

The following table sets forth, for the periods indicated, certain information derived from our consolidated statements of comprehensive income(1):

[[GREPCENT_TABLE]]
[["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["\u200b","\u200b","Fiscal Year"],["\u200b","\u200b","2025","\u200b","2024","\u200b","2023"],["\u200b","\u200b","(in thousands, except percentages)"],["Contract revenue","\u200b","$","681,552","\u200b","100.0","%","\u200b","$","565,798","\u200b","100.0","%","\u200b","$","510,095","\u200b","100.0","%"],["Direct costs of contract revenue:","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Salaries and wages","\u200b","\u200b","109,098","\u200b","16.0","\u200b","\u200b","\u200b","93,543","\u200b","16.5","\u200b","\u200b","\u200b","89,915","\u200b","17.6","\u200b"],["Subcontractor services and other direct costs","\u200b","\u200b","316,772","\u200b","46.5","\u200b","\u200b","\u200b","269,473","\u200b","47.6","\u200b","\u200b","\u200b","240,413","\u200b","47.1","\u200b"],["Total direct costs of contract revenue","\u200b","\u200b","425,870","\u200b","62.5","\u200b","\u200b","\u200b","363,016","\u200b","64.2","\u200b","\u200b","\u200b","330,328","\u200b","64.8","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Gross profit","\u200b","\u200b","255,682","\u200b","37.5","\u200b","\u200b","\u200b","202,782","\u200b","35.8","\u200b","\u200b","\u200b","179,767","\u200b","35.2","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["General and administrative expenses:","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Salaries and wages, payroll taxes and employee benefits","\u200b","\u200b","125,736","\u200b","18.4","\u200b","\u200b","\u200b","105,373","\u200b","18.6","\u200b","\u200b","\u200b","95,556","\u200b","18.7","\u200b"],["Facilities and facilities related","\u200b","\u200b","9,717","\u200b","1.4","\u200b","\u200b","\u200b","9,718","\u200b","1.7","\u200b","\u200b","\u200b","9,565","\u200b","1.9","\u200b"],["Stock-based compensation","\u200b","\u200b","11,825","\u200b","1.7","\u200b","\u200b","\u200b","7,388","\u200b","1.3","\u200b","\u200b","\u200b","5,323","\u200b","1.0","\u200b"],["Depreciation and amortization","\u200b","\u200b","18,686","\u200b","2.7","\u200b","\u200b","\u200b","14,745","\u200b","2.6","\u200b","\u200b","\u200b","16,431","\u200b","3.2","\u200b"],["Other","\u200b","\u200b","45,571","\u200b","6.7","\u200b","\u200b","\u200b","34,205","\u200b","6.0","\u200b","\u200b","\u200b","30,818","\u200b","6.0","\u200b"],["Total general and administrative expenses","\u200b","\u200b","211,535","\u200b","31.0","\u200b","\u200b","\u200b","171,429","\u200b","30.3","\u200b","\u200b","\u200b","157,693","\u200b","30.9","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Income (loss) from operations","\u200b","\u200b","44,147","\u200b","6.5","\u200b","\u200b","\u200b","31,353","\u200b","5.5","\u200b","\u200b","\u200b","22,074","\u200b","4.3","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Other income (expense):","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Interest expense","\u200b","\u200b","(5,748)","\u200b","(0.8)","\u200b","\u200b","\u200b","(7,801)","\u200b","(1.4)","\u200b","\u200b","\u200b","(9,413)","\u200b","(1.8)","\u200b"],["Other, net","\u200b","\u200b","1,595","\u200b","0.2","\u200b","\u200b","\u200b","3,127","\u200b","0.6","\u200b","\u200b","\u200b","1,930","\u200b","0.4","\u200b"],["Total other income (expense)","\u200b","\u200b","(4,153)","\u200b","(0.6)","\u200b","\u200b","\u200b","(4,674)","\u200b","(0.8)","\u200b","\u200b","\u200b","(7,483)","\u200b","(1.5)","\u200b"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Income (Loss) before income tax expense","\u200b","\u200b","39,994","\u200b","5.9","\u200b","\u200b","\u200b","26,679","\u200b","4.7","\u200b","\u200b","\u200b","14,591","\u200b","2.9","\u200b"],["Income tax expense (benefit)","\u200b","\u200b","(12,563)","\u200b","(1.8)","\u200b","\u200b","\u200b","4,109","\u200b","0.7","\u200b","\u200b","\u200b","3,665","\u200b","0.7","\u200b"],["Net income (loss)","\u200b","$","52,557","\u200b","7.7","\u200b","\u200b","$","22,570","\u200b","4.0","\u200b","\u200b","$","10,926","\u200b","2.1","\u200b"]]
[[/GREPCENT_TABLE]]

​

[[GREPCENT_TABLE]]
[["","(1)","Percentages are expressed as a percentage of contract revenue and may not total due to rounding."]]
[[/GREPCENT_TABLE]]

​

38

Table of Contents

The following tables provides information about disaggregated revenue of our two segments, Energy and Engineering and Consulting by contract type, client type, and geographical region:

​

[[GREPCENT_TABLE]]
[["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["\u200b","\u200b \u200b \u200b","2025"],["\u200b","\u200b \u200b \u200b","Energy","\u200b \u200b \u200b","Engineering and Consulting","\u200b \u200b \u200b","Total"],["\u200b","\u200b \u200b \u200b","(in thousands)"],["Contract Type","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Time-and-materials","\u200b","$","49,898","\u200b","$","72,100","\u200b","$","121,998"],["Unit-based","\u200b","\u200b","215,499","\u200b","\u200b","26,235","\u200b","\u200b","241,734"],["Fixed price","\u200b","\u200b","310,654","\u200b","\u200b","7,166","\u200b","\u200b","317,820"],["Total (1)","\u200b","$","576,051","\u200b","$","105,501","\u200b","$","681,552"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Client Type","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Commercial","\u200b","$","70,871","\u200b","$","7,029","\u200b","$","77,900"],["Government","\u200b","\u200b","227,497","\u200b","\u200b","98,233","\u200b","\u200b","325,730"],["Utilities (2)","\u200b","\u200b","277,683","\u200b","\u200b","239","\u200b","\u200b","277,922"],["Total (1)","\u200b","$","576,051","\u200b","$","105,501","\u200b","$","681,552"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Geography (3)","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Domestic","\u200b","$","576,051","\u200b","$","105,501","\u200b","$","681,552"]]
[[/GREPCENT_TABLE]]

​

[[GREPCENT_TABLE]]
[["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["\u200b","\u200b \u200b \u200b","2024"],["\u200b","\u200b \u200b \u200b","Energy","\u200b \u200b \u200b","Engineering and Consulting","\u200b \u200b \u200b","Total"],["\u200b","\u200b \u200b \u200b","(in thousands)"],["Contract Type","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Time-and-materials","\u200b","$","34,381","\u200b","$","67,931","\u200b","$","102,312"],["Unit-based","\u200b","\u200b","205,117","\u200b","\u200b","19,676","\u200b","\u200b","224,793"],["Fixed price","\u200b","\u200b","233,811","\u200b","\u200b","4,882","\u200b","\u200b","238,693"],["Total (1)","\u200b","$","473,309","\u200b","$","92,489","\u200b","$","565,798"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Client Type","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Commercial","\u200b","$","34,072","\u200b","$","7,548","\u200b","$","41,620"],["Government","\u200b","\u200b","182,079","\u200b","\u200b","84,695","\u200b","\u200b","266,774"],["Utilities (2)","\u200b","\u200b","257,158","\u200b","\u200b","246","\u200b","\u200b","257,404"],["Total (1)","\u200b","$","473,309","\u200b","$","92,489","\u200b","$","565,798"],["\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Geography (3)","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b","\u200b"],["Domestic","\u200b","$","473,309","\u200b","$","92,489","\u200b","$","565,798"]]
[[/GREPCENT_TABLE]]

​

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/WLDN/mda/fy2026/
All MD&A years: /company/WLDN/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/WLDN/mda/fy2024/): filed 2025-03-07; accession 0001558370-25-002429 (https://www.sec.gov/Archives/edgar/data/1370450/000155837025002429/wldn-20241227x10k.htm)
- [FY 2023 MD&A](/company/WLDN/mda/fy2023/): filed 2024-03-08; accession 0001558370-24-002758 (https://www.sec.gov/Archives/edgar/data/1370450/000155837024002758/wldn-20231229x10k.htm)
- [FY 2022 MD&A](/company/WLDN/mda/fy2022/): filed 2023-03-10; accession 0001558370-23-003367 (https://www.sec.gov/Archives/edgar/data/1370450/000155837023003367/wldn-20221230x10k.htm)
- [FY 2021 MD&A](/company/WLDN/mda/fy2021/): filed 2022-03-11; accession 0001558370-22-003337 (https://www.sec.gov/Archives/edgar/data/1370450/000155837022003337/wldn-20211231x10k.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 8711 Services-Engineering Services) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [PCE](/indicator/PCE/): Personal Consumption Expenditures
- [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product
- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [UNRATE](/indicator/UNRATE/): Unemployment Rate
- [DSPIC96](/indicator/DSPIC96/): Real Disposable Personal Income

Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/WLDN.md · JSON record: /company/WLDN.json · verified financials: /company/WLDN/financials.json / /company/WLDN/financials.csv · machine TOC for the whole site: /llms.txt