• In early March 2026, Willdan Group, Inc. announced it had been chosen by Puget Sound Energy to implement telecommunications and multifamily new construction programs, expand non-lighting technologies for a commercial program, and deliver software services supporting compliance with Washington State’s Clean Buildings Performance Standard.
• These wins, alongside a US$49 million distributed energy resources contract with Mt. San Antonio College and strong 2025 financial results, highlight Willdan’s growing role in complex, software-enabled energy infrastructure projects for utility and institutional clients.
• We’ll now explore how the Puget Sound Energy program wins and related software services could reshape Willdan’s existing investment narrative.

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Willdan Group Investment Narrative Recap

To own Willdan, you need to believe in its ability to win and execute complex energy and software projects for utilities and institutions while managing policy and tax headwinds. The Puget Sound Energy win reinforces the software and compliance angle, but it does not materially change the near term focus on delivering existing large contracts and managing exposure to government and utility budgets, which remains a central risk.

The Mt. San Antonio College US$49 million distributed energy resources contract is particularly relevant here, because it underscores how Willdan is moving deeper into campus scale, infrastructure heavy work that can support its guidance for 2026 revenue of US$390 million to US$405 million. Together with the new Puget Sound Energy programs, it adds to the backlog tied to electrification, storage, and grid ready buildings, which is central to the current growth catalyst.

But while these wins look encouraging, investors should still be aware of the concentration risk if utility or public sector funding priorities shift...

Willdan Group's narrative projects $867.2 million revenue and $76.9 million earnings by 2028. This requires 11.3% yearly revenue growth and a $41.7 million earnings increase from $35.2 million today.

Uncover how Willdan Group's forecasts yield a $145.00 fair value, a 75% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were already assuming revenue around US$845.7 million and earnings of US$50.6 million by 2028, so this kind of software heavy utility work could either reinforce that upbeat view or, if risks like growing competition and client insourcing bite harder than expected, prompt a rethink of how reliable those targets really are.

Explore 5 other fair value estimates on Willdan Group - why the stock might be worth just $100.01!

The Verdict Is Yours

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your Willdan Group research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Willdan Group research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Willdan Group's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.