# SOLV Energy, Inc. (MWH)

> Source: Nexqual · https://nexqual.com/MWH · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SOLV Energy, Inc. (MWH), nexqual.com/MWH" · informational, not investment advice.

**Price:** USD 21.53 (-7.40% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 23.25 · day 20.75–22.78 · 52w 20.75–48.4 · market cap $4.36B · NMS

## Key facts
- Valuation: P/E 76.2x, EV/EBITDA 19.6x, net cash $364M.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (11 analysts), mean target USD 41.18 (range 34–55).
- Total return with dividends: 1Y -30.4% vs S&P 500 +14.9%; 5Y -33.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD 0.55, revenue estimate $1.19B.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 76.2x · P/S 1.7x · EV/EBITDA 19.6x · EV/Sales 1.6x · P/FCF 57.6x · P/B 8.8x · FCF yield 1.74% · Earnings yield 1.31% · Dividend yield (paid, TTM) 5.88% · Net cash $364M · EV $3.99B

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 11 analysts; mean target USD 41.18 (low 34, high 55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | JP Morgan | Target lowered | Overweight | $43 → $34 |
| 2026-10-15 | Keybanc | Target lowered | Overweight | $43 → $35 |
| 2026-08-25 | TD Cowen | Target raised | Buy | $32 → $35 |
| 2026-08-14 | Baird | Target lowered | Outperform | $50 → $42 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-02-12) | 5Y (from 2026-02-09) |
|---|---|---|
| Total return | -30.4% | -33.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | — | — |
| Volatility (annualized) | 61.3% | 51.5% |
| Max drawdown | -54.0% (May 2026→Oct 2026) | -50.4% (May 2026→Oct 2026) |

## Peers (Utilities - Renewable)
ORA (Ormat Technologies, Inc.) USD 88.1 -1.51% · ENIC (Enel Chile S.A.) USD 4.34 -1.81% · RNW (ReNew Energy Global plc) USD 6.88 +0.15% · CWEN (Clearway Energy, Inc.) USD 31.43 -0.57% · FRVO (Fervo Energy Company) USD 8.25 -8.54% · ENLT (Enlight Renewable Energy Ltd.) USD 69.32 -3.49%

## More
Full page: https://nexqual.com/MWH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| New Construction | $913.1M | 96.0% | +87.8% |
| Existing Infrastructure | $28.0M | 2.9% | -23.2% |
| Other | $10.2M | 1.1% | -24.2% |
| Total revenue | $951.2M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.55 | $0.45 | +23.6% | $1.19B | 2 |
| Next quarter (ends 2026-12-31) | $0.49 | $0.55 | -10.9% | $1.13B | 1 |
| Current fiscal year (ends 2026-12-31) | $1.27 | $1.39 | -8.3% | $3.94B | 3 |
| Next fiscal year (ends 2027-12-31) | $1.69 | $1.63 | +4.1% | $4.54B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-12): ±16.4%; last 3 reports averaged ±6.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 69.7% | ±16.4% |
| 2026-12-18 | 56 | 64.0% | ±20.8% |
| 2027-01-15 | 84 | 61.5% | ±24.3% |
| 2027-04-16 | 175 | 61.3% | ±34.4% |