Since its 2008 acquisition of Intergy Corporation (establishing energy efficiency utility program management) and 2015 expansion into Energy Service Company and Energy Savings Performance Contract services, Willdan has built a diversified portfolio. The March 2025 acquisition of Alternative Power Generation expanded expertise in data center substation design, microgrids, EV charging stations, and renewable energy projects for the commercial sector. Operating in 42 states with over 50 offices, Willdan is strategically positioned to capitalize on projected 50% increase in U.S. electricity demand by 2050, driven by data centers powering AI.
Cyborg Score Rationale
The company demonstrated strong momentum with net revenue growing 26.8% year-to-date through Q3 2025, earnings projected to rise 70% in 2025 and an additional 9.7% in 2026. Willdan trades at an attractive forward P/E of 26 and P/S of 2.5, cheap relative to peers in the AI space. Robust backlog and strategic positioning in high-growth sectors support continued momentum.
Top Insights
WLDN is emerging as a compelling AI Revolution play, positioned to benefit from the growing focus on electric grid modernization and energy efficiency.
~$1.0 billion in backlog provides substantial revenue visibility and growth runway.
Operating in 42 states with 50+ offices positions WLDN to capture opportunities across fragmented municipal and utility markets.
Recent APG acquisition adds critical expertise in high-growth data center and renewable energy infrastructure verticals.
Named Competitors
Energy Consulting & Grid Services — Diversified engineering and consulting
Engineering & Infrastructure — Global engineering and construction services
Energy Consulting — Energy infrastructure design and consulting
Recent Developments
(January 2026) Acquired Compass Municipal Advisors to expand financial consulting capabilities
(Q3 2025) Delivered 15% revenue growth and beat earnings expectations; awarded $97M Alameda County contract
(March 2025) Completed acquisition of Alternative Power Generation for data center and renewable energy expertise
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