Solv Energy, Inc. is capitalizing on robust data center-driven demand, with an $8.9B backlog and projected 58% FY26 growth. MWH trades at 14.7x FY27E non-GAAP EPS and 10.6x EV/FY26E Adj. EBITDA, with valuation compressed by private equity overhang. Management raised FY26 guidance after strong 2Q26 results, highlighting a shift to higher-margin O&M revenue and expanding EPC backlog.