debt_leverage_profile
0.17x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Moderate impact; ~20bps rate rise increases annual interest expense by ~$0.5M on ~$250M debt, compressing thin 5-7% EBITDA margins by ~50bps
Inferred
Agent_Inference
geopolitical_supply_exposure
Medium intensity; US-China trade tariffs on metals and components disrupt supply chains.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Negligible physical supply chain; primary dependencies are U.S. federal/state budget appropriations and specialized engineering labor availability
Inferred
Agent_Inference
international_expansion_readiness
Minimal; ~95% of revenue is U.S.-domestic, so sovereign currency devaluation exposure is near-zero across international markets
Inferred
Agent_Inference
geographic_footprint
Overwhelmingly U.S.-based (~95%+ revenue); negligible foreign-currency exposure; no material sovereign devaluation risk in international markets
Inferred
Agent_Inference
commodity_exposure_profile
Medium intensity; commodities: Steel, Aluminum, Copper, Crude Oil (fuel), Rare Earth Elements, Plastics/Resins; geopolitical: US-China trade tariffs on metals and components disrupt supply chains.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
No single vendor exceeds 30% of input costs; primary dependencies are engineering software licenses (ESRI, SAP) and subcontractors, all substitutable
Inferred
Agent_Inference
business_model_type_primary
Government professional services and energy efficiency consulting; cloud termination would disrupt back-office ops but not core service delivery
Inferred
Agent_Inference
business_model_type_secondary
Managed services and utility program administration; cloud disruption would require 60-90 day migration but core expertise is human-capital-based
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; Willdan uses standard government GIS and ERP platforms (Salesforce, ESRI); no proprietary API lock-in with third parties
Inferred
Agent_Inference
howey_test_risk_index
No Howey Test risk; revenue model is fee-for-service government contracting with no investment contracts, profit-sharing, or token-based mechanisms
Inferred
Agent_Inference
regulatory_burden_tier
Medium
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low-moderate; handles municipal and utility customer data under U.S. jurisdictions; CCPA applies to California utility programs; GDPR exposure is negligible
Inferred
Agent_Inference
antitrust_exposure_flag
Low; fragmented government consulting market with many competitors; no dominant market share position that would trigger antitrust scrutiny
Inferred
Agent_Inference
regulatory_exposure_profile
Medium burden; regimes: FAA, DOT, OSHA, EPA, ITAR, FTC; Export controls and defense procurement rules create contract concentration risk.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~70-75% recurring via multi-year government contracts and utility program retainers; ~25-30% transactional project-based engineering fees
Inferred
Agent_Inference
monetization_vector
Time-and-materials and fixed-fee government contracts plus performance-based energy efficiency program administration fees from utilities
Inferred
Agent_Inference
pricing_architecture
Cost-plus and competitive-bid government pricing; limited unilateral pricing power; stress scenario shows margin compression if labor costs rise >5% without contract escalators
Inferred
Agent_Inference
pricing_power_rating
Weak-to-moderate (4/10); government procurement rules limit pricing flexibility; cost escalation clauses in long-term contracts provide partial protection
Inferred
Agent_Inference
target_gross_margin_bracket
37.5% Gross Margin (Moderate (20-40%))
High
SEC-XBRL
churn_vulnerability_index
No free-rider problem; services are contracted and billable; churn risk is contract non-renewal at rebid, estimated 15-20% of contracts rebid annually
Inferred
Agent_Inference
headcount_cost_structure
Largely headcount-linear; professional services model requires proportional engineering and analyst staff growth to scale revenue; limited leverage
Inferred
Agent_Inference
marginal_cost_of_growth
High; doubling revenue likely requires ~80-90% proportional headcount increase; minimal operating leverage except in shared back-office functions
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Willdan does not operate a franchise network
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC would rise sharply as government RFP competition intensifies; current CAC estimated low (~$15-30K) but LTV constrained by rebid cycles
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; service quality depends on human expertise and relationships, not user-scale dynamics; durability rating: low
Inferred
Agent_Inference
asset_efficiency_ratio
7.3% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 2 (moderate resilience); federal/state infrastructure and energy mandates provide baseline demand, but municipal budget cuts pressure discretionary consulting spend
Inferred
Agent_Inference
customer_segment_primary
U.S. municipal and county governments (~40-50% of revenue); concentration risk is moderate with top 10 clients representing an estimated 25-35% of revenue
Inferred
Agent_Inference
customer_segment_secondary
U.S. investor-owned and public utilities (~35-40% of revenue); utility regulatory mandates provide stability but CPUC and state PUC policy changes create renewal risk
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "33-0000 Protective Service Occupations", "37-0000 Building and Grounds Cleaning and Maintenance Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "51-0000 Production Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.3 (HIL — ~30% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
1.4% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0001370450
High
SEC-EDGAR
ticker
WLDN
High
SEC-EDGAR