BBAINYSEServices-Prepackaged SoftwareFiscal year ends December 31Also trades as BBAI.WT
BigBear.ai Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$2.12−0.04 (-1.85%)
Close on Oct 19, 2026
- Market cap
- $1.02B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
22.3%
Operating margin
-167.5%
Net margin
-230.2%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -19.3% | -6.3% | – | – | |
| Gross profit | -37.0% | -12.8% | – | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -96.7% | |
| Return on assets | – | – | -47.5% | |
| Current ratio | – | 2.85 | 1.78 | |
| Debt to equity | – | 1.07 | 0.17 | |
| Net debt to EBITDA | – | – | -0.10× | |
| Interest coverage | – | – | -11.8× | |
| Capex to revenue | – | – | 0.4% | |
| Diluted shares | – | – | 359M |
Where the cash went
Fiscal 2021 to 2025, five years combined
BigBear.ai generated $167.08M from operations and spent $103.32M on capital expenditure, dividends and share buybacks. 2% of that went back into the business.
Generated
$167.08M
Used
$103.32M
Capital expenditure$2.43M2%Dividends$00%Share buybacks$100.90M98%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-230.2%
×Asset turnover0.21×
×Equity multiplier2.04×
=Return on equity, FY2025-96.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -230.2% | 0.21× | 2.04× | -96.7% |
| FY2024 | -186.8% | 0.58× | -16.13× | 1753.3% |
| FY2023 | -45.5% | 0.79× | -19.52× | 698.1% |
| FY2022 | -71.8% | 0.54× | 3.41× | -131.5% |
| FY2021 | -84.9% | 0.48× | 2.31× | -95.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$293.91M
- Cash generatingOperating cash flow above zero-$41.95M
- Return on assets improvedROA up on the prior year-147.8% → -85.5%
- Earnings backed by cashOperating cash flow above net income-$41.95M vs -$293.91M
- Less leverageLong-term debt to assets fell39.4% → 10.1%
- Better liquidityCurrent ratio rose0.46 → 1.78
- No dilutionShare count did not rise234M → 359M
- Gross margin improvedGross margin up on the prior year28.58% → 22.31%
- More efficientAsset turnover rose0.79 → 0.37