Willdan Group, Inc. key statistics and ratios

In fiscal 2025, Willdan Group, Inc. had return on equity of 19.5%, an operating margin of 6.5%, debt equal to 16.7% of equity and a current ratio of 1.56. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Willdan Group, Inc.: financial ratios, annual
Fiscal year	2009Jan 2010	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Jan 2015	2015Jan 2016	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Jan 2021	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Jan 2026	LTMJul 2026
Gross margin	53.2%	46.1%	39.6%	36.9%	42.8%	41.0%	39.2%	31.4%	28.1%	34.1%	30.5%	33.1%	38.4%	33.5%	35.2%	35.8%	37.5%	37.8%
Operating margin	−12.2%	3.9%	3.2%	−20.6%	3.0%	7.7%	5.6%	5.5%	5.0%	4.7%	2.1%	−4.2%	−2.5%	−1.6%	4.3%	5.5%	6.5%	7.1%
Net margin	−9.0%	3.5%	1.7%	−18.5%	3.1%	8.7%	3.2%	4.0%	4.4%	3.7%	1.1%	−3.7%	−2.4%	−2.0%	2.1%	4.0%	7.7%	8.8%
Free-cash-flow margin	2.9%	−0.8%	−1.0%	4.6%	1.1%	10.6%	4.2%	9.5%	3.3%	2.0%	1.1%	10.7%	0.4%	−0.0%	5.7%	11.3%	10.4%	8.4%
Return on equity	−19.1%	8.9%	5.5%	−67.0%	14.0%	37.2%	12.5%	19.0%	20.1%	9.3%	3.1%	−8.6%	−4.8%	−4.7%	5.7%	10.4%	19.5%	19.9%
Return on assets	—	5.5%	3.2%	−32.6%	6.6%	21.5%	7.0%	9.2%	9.8%	4.6%	1.3%	−3.4%	−2.1%	−2.1%	2.6%	5.1%	10.4%	11.1%
Asset turnover	—	1.58	1.88	1.76	2.13	2.47	2.22	2.31	2.22	1.24	1.20	0.93	0.89	1.07	1.24	1.29	1.35	1.26
Current ratio	—	2.11	1.45	1.54	1.88	2.49	1.80	1.47	1.48	1.49	1.33	1.34	1.27	1.37	1.67	1.71	1.56	1.37
Debt to equity	0.0%	3.5%	4.5%	38.2%	2.6%	1.2%	13.6%	12.1%	4.1%	55.0%	86.1%	75.8%	64.5%	68.5%	53.0%	42.5%	16.7%	19.9%
Interest cover (operating income ÷ interest)	n/m	56.9x	44.2x	n/m	27.7x	—	36.4x	64.5x	123.5x	18.2x	1.9x	n/m	n/m	—	—	—	—	—
Effective tax rate	—	11.2%	45.0%	—	4.8%	−11.7%	42.0%	27.0%	11.4%	17.5%	−4.0%	—	—	—	25.1%	15.4%	−31.4%	−20.0%
Capital spending as % of revenue	0.6%	0.9%	0.4%	0.4%	0.4%	0.5%	1.8%	0.8%	0.8%	0.8%	1.5%	1.3%	2.4%	2.2%	1.9%	1.5%	1.4%	1.2%
Free cash flow ÷ net income	—	−21.6%	−58.9%	—	34.5%	121.1%	132.1%	240.2%	73.3%	54.5%	103.0%	—	—	—	268.1%	282.1%	134.5%	95.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Willdan Group, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Apr 2025	2025 Q2Jul 2025	2025 Q3Oct 2025	2025 Q4Jan 2026	2026 Q1Apr 2026	2026 Q2Jul 2026
Gross margin	32.6%	38.1%	37.8%	39.4%	36.9%	36.0%	40.7%	37.9%
Operating margin	5.5%	7.5%	4.6%	6.8%	8.2%	6.0%	4.7%	8.5%
Net margin	4.6%	5.3%	3.1%	8.9%	7.5%	10.8%	5.5%	10.5%
Free-cash-flow margin	5.6%	21.6%	0.7%	13.4%	5.4%	21.1%	−17.0%	18.3%
Current ratio	1.77	1.71	1.61	1.43	1.48	1.56	1.68	1.37
Debt to equity	41.0%	38.2%	35.4%	22.4%	17.3%	15.9%	15.4%	19.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · July 3, 2026

What it owns · $635m

Short-term assets $270mLonger-term assets $365m

What it owes, and who funded it · $635m

Short-term liabilities $197mLonger-term liabilities $88mShareholders' equity $350m

Short-term assets cover short-term liabilities $270m of assets due within a year against $197m of liabilities due within a year.
Short-term assets cover long-term liabilities $270m short-term assets against $88m of longer-dated liabilities.
More cash than debt $35m of cash against $67m of debt.
Debt below 40% of shareholders' equity Debt is 19% of equity.
Debt burden no higher than five years ago Debt to equity moved from 48% to 19% over five years.
A year's operating cash flow covers at least 20% of debt $71m of operating cash flow against $67m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Willdan Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

13 /100

Weak moat

How hard Willdan Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 1 / 20

Net income has been a median 2.5% of total assets over 10 years.
Durability 0 / 20

Operating margin has been a median 3.7%; its worst year was -4.2%.
Cash conversion 11 / 20

Free cash flow was positive in 9 of 10 years, at a median 4.9% of revenue.
Discipline 10 / 20

The diluted share count rose 25.1% over five years; stock-based pay has been a median 1.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (28 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Willdan Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Willdan Group, Inc.