BWNYSEHeating Equipment, Except Electric & Warm Air FurnacesFiscal year ends December 31Also trades as BW.PA
Babcock & Wilcox Enterprises, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$4.56−0.06 (-1.30%)
Close on Oct 19, 2026
- Market cap
- $704.58M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2025
Gross margin
24.5%−4.8 pts over 5 years
Operating margin
3.5%+3.8 pts over 5 years
Net margin
-6.2%−4.3 pts over 5 years
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.
Generated
$371.73M
Used
$67.59M
Capital expenditure$57.69M85%Dividends$00%Share buybacks$9.90M15%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.2%
×Asset turnover0.85×
×Equity multiplier-3.35×
=Return on equity, FY202517.4%
| 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
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- 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