BWXTNYSEEngines & TurbinesFiscal year ends December 31
BWX Technologies, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q/A on Aug 5, 2026
$135.83−1.18 (-0.86%)
Close on Oct 19, 2026
- Market cap
- $12.50B
- P/E (TTM)
- 35.2
- Dividend yield
- 0.71%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
22.9%−4.2 pts over 5 years
Operating margin
12.6%−4.2 pts over 5 years
Net margin
10.3%−2.8 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 | +18.3% | +12.7% | +8.5% | +8.5% | |
| Gross profit | +11.9% | +9.9% | +5.0% | +6.6% | |
| Operating income | +6.3% | +5.1% | +2.4% | +7.0% | |
| Net income | +16.7% | +11.4% | +3.4% | +9.6% | |
| EPS, diluted | +16.6% | +11.3% | +4.2% | +11.4% | |
| Free cash flow | +15.9% | +85.3% | – | +1.0% | |
| Dividend per share | 0.0% | +2.9% | +4.8% | +11.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 88.1% | 54.5% | 28.4% | |
| Return on assets | 12.4% | 13.3% | 9.2% | |
| Current ratio | 1.58 | 1.46 | 2.32 | |
| Debt to equity | 3.50 | 1.40 | 1.64 | |
| Net debt to EBITDA | 1.37× | 1.94× | 2.95× | |
| Interest coverage | 27.9× | 11.6× | 9.1× | |
| Inventory turnover | 144.8× | 96.5× | 56.8× | |
| Capex to revenue | 3.4% | 12.0% | 5.8% | |
| Diluted shares | 104M | 96M | 92M |
Where the cash went
Fiscal 2021 to 2025, five years combined
BWX Technologies generated $1.88B from operations and spent $1.72B on capital expenditure, dividends and share buybacks. 58% of that went back into the business.
Generated
$1.88B
Used
$1.72B
Capital expenditure$998.85M58%Dividends$426.53M25%Share buybacks$295.79M17%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.3%
×Asset turnover0.90×
×Equity multiplier3.09×
=Return on equity, FY202528.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.3% | 0.90× | 3.09× | 28.4% |
| FY2024 | 10.4% | 0.96× | 2.79× | 28.0% |
| FY2023 | 9.8% | 0.93× | 3.19× | 29.2% |
| FY2022 | 10.7% | 0.87× | 3.70× | 34.4% |
| FY2021 | 14.4% | 0.89× | 3.82× | 48.7% |
| FY2020 | 13.1% | 1.01× | 4.11× | 54.5% |
| FY2019 | 12.9% | 1.06× | 5.57× | 76.3% |
| FY2018 | 12.6% | 1.07× | 6.46× | 87.1% |
| FY2017 | 8.8% | 1.03× | 7.56× | 67.9% |
| FY2016 | 11.8% | 1.05× | 7.11× | 88.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$328.95M
- Cash generatingOperating cash flow above zero$479.85M
- Return on assets improvedROA up on the prior year10.3% → 11.5%
- Earnings backed by cashOperating cash flow above net income$479.85M vs $328.95M
- Less leverageLong-term debt to assets fell36.3% → 47.2%
- Better liquidityCurrent ratio rose1.96 → 2.32
- No dilutionShare count did not rise92M → 92M
- Gross margin improvedGross margin up on the prior year24.23% → 22.91%
- More efficientAsset turnover rose0.98 → 1.11