Babcock & Wilcox Enterprises, Inc. (BW.PA) stock analysis
Close on Oct 30, 2026Market cap $636.08MP/E –Yield –
StockData Score
Prices as of Oct 30, 2026How the score works
Weak5 of 30 checks passed
Babcock & Wilcox Enterprises passes 5 of the 30 checks behind our score; 18 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 1/6
- Growth
- 2/6
- Past performance
- 1/6
- Financial health
- 1/6
- Dividend
- 0/6
What stands out
Guidance raised
Babcock & Wilcox Enterprises raised its full year 2026 Adjusted EBITDA outlook on Aug 10, 2026.
EV/EBITDA below its 5-year median
Babcock & Wilcox Enterprises's EV/EBITDA of 9.8 is below its 5-year median of 18.7.
Growing faster than the industry
Revenue grew 42.6% over the last twelve months; the Fabricated Metal Products, except Machinery and Transportation Equipment median is 8.7%.
Net margin above its 5-year average
Net margin was -2.2% over the last twelve months, against a 5-year average of -9.9%.
What to watch
Revenue growing under 10% a year
Revenue grew -1.2% a year over the last three fiscal years, short of the 10% we look for.
Interest not well covered
Operating income covers interest expense 0.9 times; we look for at least 5.
Elevated bankruptcy risk
The Altman Z-score is -0.90; above 3 is the safe zone and below 1.8 the distress zone.
P/B above the industry
Babcock & Wilcox Enterprises's price-to-book of 11.09 is above the Fabricated Metal Products, except Machinery and Transportation Equipment median of 2.61.
Valuation1/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA below its 5-year median
Babcock & Wilcox Enterprises's EV/EBITDA of 9.8 is below its 5-year median of 18.7.
P/B above the industry
Babcock & Wilcox Enterprises's price-to-book of 11.09 is above the Fabricated Metal Products, except Machinery and Transportation Equipment median of 2.61.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth2/6
Revenue growing under 10% a year
Revenue grew -1.2% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 42.6% over the last twelve months; the Fabricated Metal Products, except Machinery and Transportation Equipment median is 8.7%.
Guidance raised
Babcock & Wilcox Enterprises raised its full year 2026 Adjusted EBITDA outlook on Aug 10, 2026.
Gross margin slipping
Gross margin was 19.5% over the last twelve months, against 23.0% a year earlier.
Past performance1/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was -2.2% over the last twelve months, against a 5-year average of -9.9%.
Net margin below the industry
Babcock & Wilcox Enterprises's net margin of -2.2% is below the Fabricated Metal Products, except Machinery and Transportation Equipment median of 4.4%.
Financial health1/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest not well covered
Operating income covers interest expense 0.9 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 1.45 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is -0.90; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Babcock & Wilcox Enterprises has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Babcock & Wilcox Enterprises. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Fabricated Metal Products, except Machinery and Transportation Equipment median 23.2
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $26.06M
- Value traded per 1% price move
- $8.26M
Downside
High risk
- Typical loss in a bad month
- 39.1%
- Volatility (annualized)
- 120%
- Sharpe ratio, 1 year
- 0.21
- Beta to the S&P 500 (5Y)
- 2.35
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2012 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.1% | -1.2% | +0.7% | -10.4% | |
| Gross profit | +13.5% | -0.3% | -2.8% | -7.3% | |
| Operating income | – | – | – | -0.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -17.8% | 3.3% | 17.4% | |
| Return on assets | -7.2% | -1.7% | -5.2% | |
| Current ratio | 1.26 | 1.46 | 1.22 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | -29.7× | -0.0× | 0.6× | |
| Inventory turnover | 14.6× | 5.8× | 7.4× | |
| Capex to revenue | 1.6% | 1.5% | 2.9% | |
| Diluted shares | 5M | 49M | 105M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Babcock & Wilcox Enterprises generated $371.73M from operations and spent $67.59M on capital expenditure, dividends and share buybacks. 85% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -6.2% | 0.85× | -3.35× | 17.4% |
| FY2024 | -10.3% | 0.77× | -3.10× | 24.7% |
| FY2023 | -33.6% | 0.68× | -8.44× | 193.8% |
| FY2022 | -3.8% | 0.66× | 60.67× | -149.5% |
| FY2021 | 4.3% | 0.94× | -5.06× | -20.7% |
| FY2020 | -1.8% | 0.92× | -1.95× | 3.3% |
| FY2019 | -14.2% | 1.25× | -2.36× | 41.9% |
| FY2018 | -68.3% | 1.03× | -19.88× | 1394.5% |
| FY2017 | -28.3% | 0.94× | 3.88× | -103.5% |
| FY2016 | -8.1% | 0.89× | 2.46× | -17.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero-$36.16M
- Cash generatingOperating cash flow above zero-$68.89M
- Return on assets improvedROA up on the prior year-7.7% → -5.0%
- Earnings backed by cashOperating cash flow above net income-$68.89M vs -$36.16M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.36 → 1.22
- No dilutionShare count did not rise92M → 105M
- Gross margin improvedGross margin up on the prior year21.81% → 24.48%
- More efficientAsset turnover rose0.75 → 0.81