BWANYSEMotor Vehicle Parts & AccessoriesFiscal year ends December 31
BORGWARNER INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$58.23+0.10 (+0.17%)
Close on Oct 19, 2026
- Market cap
- $12.01B
- P/E (TTM)
- 29.1
- Dividend yield
- 0.96%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
18.7%−0.1 pts over 5 years
Operating margin
3.7%−2.3 pts over 5 years
Net margin
1.9%−3.0 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 | +1.6% | +4.3% | +7.1% | +6.0% | |
| Gross profit | +1.0% | +4.1% | +7.0% | +4.6% | |
| Operating income | -1.8% | -19.0% | -2.8% | -4.9% | |
| Net income | -18.0% | -33.5% | -11.1% | -7.1% | |
| EPS, diluted | -14.7% | -31.5% | -11.4% | -6.7% | |
| Free cash flow | +65.8% | +28.3% | +9.7% | +15.0% | |
| Dividend per share | +27.3% | -6.3% | -3.8% | +0.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 17.6% | 9.0% | 5.0% | |
| Return on assets | 6.6% | 3.9% | 2.0% | |
| Current ratio | 1.39 | 1.62 | 2.07 | |
| Debt to equity | 0.64 | 0.58 | 0.72 | |
| Net debt to EBITDA | 1.19× | 1.76× | 1.26× | |
| Interest coverage | – | 8.5× | 5.4× | |
| Inventory turnover | 10.5× | 7.9× | 9.5× | |
| Capex to revenue | 5.5% | 4.3% | 3.3% | |
| Diluted shares | 215M | 214M | 216M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Borgwarner generated $6.82B from operations and spent $5.11B on capital expenditure, dividends and share buybacks. 61% of that went back into the business.
Generated
$6.82B
Used
$5.11B
Capital expenditure$3.11B61%Dividends$670.00M13%Share buybacks$1.33B26%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.9%
×Asset turnover1.03×
×Equity multiplier2.53×
=Return on equity, FY20255.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.9% | 1.03× | 2.53× | 5.0% |
| FY2024 | 2.4% | 0.99× | 2.50× | 6.0% |
| FY2023 | 4.4% | 0.90× | 2.41× | 9.6% |
| FY2022 | 7.5% | 0.75× | 2.37× | 13.3% |
| FY2021 | 4.5% | 0.72× | 2.44× | 8.0% |
| FY2020 | 4.9% | 0.79× | 2.31× | 9.0% |
| FY2019 | 7.3% | 1.03× | 2.22× | 16.7% |
| FY2018 | 8.8% | 1.06× | 2.50× | 23.4% |
| FY2017 | 4.5% | 1.05× | 2.69× | 12.7% |
| FY2016 | 6.6% | 1.01× | 2.66× | 17.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$277.00M
- Cash generatingOperating cash flow above zero$1.65B
- Return on assets improvedROA up on the prior year2.3% → 2.0%
- Earnings backed by cashOperating cash flow above net income$1.65B vs $277.00M
- Less leverageLong-term debt to assets fell26.9% → 28.3%
- Better liquidityCurrent ratio rose1.79 → 2.07
- No dilutionShare count did not rise225M → 216M
- Gross margin improvedGross margin up on the prior year18.80% → 18.68%
- More efficientAsset turnover rose0.97 → 1.02