Willdan (WLDN) financial statements
Willdan reported revenue of $682M in fiscal 2025, up 14.0% a year over 9 years.
Net income was $53M and the operating margin 6.5%, against 5.5% in 2016.
Free cash flow was $71M.
The diluted share count rose 76% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Willdan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $209M | $273M | $272M | $443M | $391M | $354M | $429M | $510M | $566M | $682M |
| Cost of revenue | $143M | $197M | $179M | $308M | $262M | $218M | $286M | $330M | $363M | $426M |
| Gross profit | $66M | $77M | $93M | $135M | $129M | $136M | $144M | $180M | $203M | $256M |
| Operating income | $12M | $14M | $13M | $9M | -$16M | -$9M | -$7M | $22M | $31M | $44M |
| Interest expense | $179,000 | $111,000 | $700,000 | $5M | $5M | $4M | — | — | — | — |
| Pre-tax income | $11M | $14M | $12M | $5M | -$20M | -$12M | -$11M | $15M | $27M | $40M |
| Income tax | $3M | $2M | $2M | -$185,000 | -$5M | -$4M | -$3M | $4M | $4M | -$13M |
| Net income | $8M | $12M | $10M | $5M | -$14M | -$8M | -$8M | $11M | $23M | $53M |
| EPS (diluted) | $0.97 | $1.32 | $1.03 | $0.41 | -$1.23 | -$0.68 | -$0.65 | $0.80 | $1.58 | $3.49 |
| Diluted shares | 9M | 9M | 10M | 12M | 12M | 12M | 13M | 14M | 14M | 15M |
| Gross margin | 31.4% | 28.1% | 34.1% | 30.5% | 33.1% | 38.4% | 33.5% | 35.2% | 35.8% | 37.5% |
| Operating margin | 5.5% | 5.0% | 4.7% | 2.1% | -4.2% | -2.5% | -1.6% | 4.3% | 5.5% | 6.5% |
| Net margin | 4.0% | 4.4% | 3.7% | 1.1% | -3.7% | -2.4% | -2.0% | 2.1% | 4.0% | 7.7% |
Balance sheet
Fiscal years, from Willdan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $14M | $15M | $5M | $28M | $11M | $9M | $23M | $74M | $66M |
| Receivables | $30M | $38M | $61M | $58M | $53M | $67M | $60M | $70M | $66M | $65M |
| Total current assets | $75M | $83M | $136M | $175M | $156M | $149M | $174M | $192M | $236M | $252M |
| Property, plant and equipment | $5M | $5M | $8M | $12M | $13M | $17M | $23M | $27M | $30M | $31M |
| Goodwill | $22M | $38M | $98M | $128M | $130M | $130M | $130M | $131M | $141M | $180M |
| Total assets | $108M | $138M | $301M | $440M | $403M | $394M | $410M | $416M | $465M | $544M |
| Total current liabilities | $51M | $56M | $91M | $132M | $117M | $117M | $127M | $115M | $138M | $162M |
| Long-term debt | — | — | — | — | — | $86M | $91M | $89M | $79M | $46M |
| Total liabilities | $58M | $68M | $157M | $273M | $234M | $215M | $228M | $216M | $231M | $239M |
| Shareholders' equity | $50M | $71M | $144M | $167M | $169M | $179M | $182M | $200M | $234M | $305M |
| Net debt | -$23M | -$14M | -$15M | -$5M | -$28M | $89M | $99M | $74M | $15M | -$17M |
Cash flow
Fiscal years, from Willdan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $22M | $11M | $8M | $12M | $47M | $10M | $9M | $39M | $72M | $80M |
| Capital spending | $2M | $2M | $2M | $7M | $5M | $8M | $10M | $10M | $8M | $9M |
| Free cash flow | $20M | $9M | $5M | $5M | $42M | $1M | -$169,000 | $29M | $64M | $71M |
| Stock-based compensation | $1M | $3M | $6M | $12M | $16M | $17M | $8M | $5M | $7M | $12M |
| Free cash flow margin | 9.5% | 3.3% | 2.0% | 1.1% | 10.7% | 0.4% | -0.0% | 5.7% | 11.3% | 10.4% |
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Open WLDN in InvestinglyQuestions
What was Willdan's revenue in 2025?
$682M in fiscal 2025, from its 10-K filing.
How much free cash flow does Willdan generate?
$71M in fiscal 2025 (operating cash flow minus capital spending).
From Willdan's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.