Filing Flows › Willdan Group (WLDN) › Q4 2025
Willdan Group (WLDN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Willdan Group (WLDN) reported revenue of $174M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and -5% from the quarter before. Operating margin was 6.0%, net earnings $18.7M (10.8% of revenue).
Willdan Group, Q4 2025: revenue $174M (+21% year over year), operating margin 6.0%, net earnings $18.7M, operating cash flow $39.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $174M | -5% | +21% |
| Gross profit | $62.6M | -7% | +14% |
| Operating profit | $10.4M | -30% | -4% |
| Net earnings | $18.7M | +36% | +143% |
| Operating cash flow | $39.2M | +222% | +17% |
| Free cash flow | $36.7M | +276% | +18% |
What changed
Revenue was $173.7M in Q4 2025, up 21% year over year and down 5% from the previous quarter. Energy was the largest line at 85% of revenue.
Gross margin was 36.0%, down 2.1 points from a year earlier. Operating profit was $10.4M, a 6.0% margin (down 1.5 points year over year). Operating profit fell $437K even though revenue rose $29.6M versus a year earlier, so costs grew faster than sales. Operating expenses grew 18% against revenue growth of 21%. Net earnings were $18.7M, up 143% year over year. The effective tax rate was -81.2%.
Operating cash flow was $39.2M (up 17% year over year), 209% of net earnings. Non-cash charges added back $4.8M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $12.6M. Capital expenditures of $2.5M left free cash flow of $36.7M.
Questions
What was Willdan Group's revenue in the fourth quarter 2025?
Willdan Group (WLDN) reported revenue of $174M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and -5% from the quarter before.
Was Willdan Group profitable in the fourth quarter 2025?
Operating profit was $10.4M (6.0% of revenue) and net earnings $18.7M.
Source: Willdan Group 10-K on SEC EDGAR.