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Financials · BW

Babcock & Wilcox Enterprises Inc. (BW) financials

For the twelve months ended Jun 30, 2026, Babcock & Wilcox Enterprises Inc. reported $821.95M of revenue and -$18.35M of net income.

Revenue, TTM
$821.95M
Revenue growth, YoY
+42.6%
Net income, TTM
-$18.35M
Net margin
-2.2%
Free cash flow, TTM
-$58.17M
EPS, diluted, TTM
-$0.12
Cash
$308.63M
P/S
0.59
Market cap
$484.1M
Annual revenue$587.68M
FY2016FY2025
Annual net income-$36.16M
FY2016FY2025
Annual free cash flow-$85.66M
FY2016FY2025

BW revenue and earnings growth

BW revenueQ2 2026$319.72M

Quarter YoY
+130.3%
QoQ
+49.1%
FY YoY
+1.1%
5Y CAGR
+0.7%
10Y CAGR
-10.4%

BW revenue was $319.72M in fiscal Q2 2026 (ended Jun 30, 2026), up 130.3% from a year earlier and up 49.1% from the prior quarter. For the full fiscal 2025 it was $587.68M, up 1.1% from fiscal 2024. Compound annual growth was +0.7% over 5 years and -10.4% over 10 years. It rose in 2 of the last 10 fiscal years.

BW net incomeQ2 2026$14.26M

BW net income was $14.26M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$58.49M a year earlier. For the full fiscal 2025 it was -$36.16M, compared with -$59.91M in fiscal 2024.

BW EPSQ2 2026$0.07

BW diluted EPS was $0.07 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$0.48, compared with -$0.82 in fiscal 2024.

BW free cash flowQ2 2026-$24.04M

BW free cash flow was -$24.04M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$28.06M a year earlier. For the full fiscal 2025 it was -$85.66M, compared with -$129.94M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$587.68M$581.04M$587.45M$609.44M$710.87M$566.32M$859.11M$1.06B$1.34B$1.42B
Cost of revenue$443.82M$454.33M$465.98M$464.30M$535.83M$400.46M$698.85M$1.19B$1.32B$1.28B
Gross profit$143.85M$126.71M$121.47M$145.13M$175.05M$165.85M$160.26M-$129.64M$24.22M$138.27M
Research and development---$3.80M$1.60M$4.40M$2.90M$3.78M$7.61M$8.85M
Selling, general and admin$119.48M$124.54M$134.94M$152.70M$151.76M$141.75M$151.07M$204.71M$221.15M$217.08M
Operating income$20.74M-$6.34M-$20.07M-$1.15M$19.42M-$1.74M-$29.38M-$426.60M-$316.36M-$110.02M
Interest expense$37.53M$46.15M$42.56M$39.80M$39.52M$59.80M$94.90M$49.61M$25.93M$3.70M
Pre-tax income-$24.57M-$91.47M-$103.61M-$5.12M$27.29M-$3.92M-$124.45M-$555.80M-$317.55M-$119.63M
Income tax$8.28M$12.80M$5.60M$9.07M-$2.03M$8.18M$5.29M$102.22M$63.71M$2.71M
Net income-$36.16M-$59.91M-$197.21M-$22.86M$30.89M-$10.32M-$121.97M-$725.29M-$379.82M-$115.65M
EPS, basic-$0.48-$0.82-$2.38-$0.43$0.26-$0.21-$3.87-$52.45-$74.43-$21.25
EPS, diluted-$0.48-$0.82-$2.38-$0.43$0.26-$0.21-$3.87-$52.45-$74.43-$21.25
Diluted shares105.4M91.7M89.0M88.3M83.6M48.7M31.5M13.8M5.1M5.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$89.46M$131.06M$65.33M$113.46M$226.72M$67.42M$56.94M$60.28M$69.70M$87.43M
Receivables$118.38M$91.77M$77.47M$158.36M$132.07M$128.32M$142.20M$197.20M$252.51M$282.35M
Inventory$60.88M$58.30M$97.58M$102.64M$79.53M$74.45M$63.10M$61.32M$72.92M$85.81M
Current assets$470.68M$553.47M$497.59M$557.61M$582.43M$396.08M$412.22M$549.62M$732.26M$777.53M
Goodwill$53.10M$51.41M$54.30M$84.17M$116.46M$47.36M$47.16M$47.11M$85.68M$163.09M
Total assets$662.94M$726.99M$775.70M$941.69M$913.26M$599.08M$626.52M$745.50M$1.32B$1.53B
Current liabilities$386.69M$406.65M$350.22M$371.53M$253.38M$270.83M$602.49M$711.99M$744.33M$617.54M
Short-term debt-----$0$103.95M$30.65M--
Long-term debt-------$30.65M$0-
Total debt-----$183.33M-$61.30M$0-
Total liabilities$794.48M$1.01B$976.05M$943.78M$854.64M$930.05M$921.46M$1.02B$1.13B$968.19M
Shareholders' equity-$131.54M-$283.17M-$200.35M-$2.09M$58.62M-$330.98M-$287.65M-$270.01M$190.70M$560.95M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$68.89M-$118.73M-$42.27M-$30.64M-$111.20M-$40.81M-$176.32M-$281.88M-$189.83M$2.27M
Capital expenditures$16.77M$11.21M$9.80M$13.24M$6.68M$8.23M$3.80M$5.47M$14.28M$22.45M
Free cash flow-$85.66M-$129.94M-$52.07M-$43.88M-$117.88M-$49.04M-$180.12M-$287.36M-$204.11M-$20.18M
Investing cash flow$197.01M$109.96M-$7.94M-$68.80M-$33.54M$2.22M$8.78M$179.22M-$63.93M-$190.22M
Financing cash flow-$58.73M$69.73M$8.56M-$11.16M$302.81M$44.10M$167.02M$82.61M$206.13M-$83.43M
Share repurchases$386.0K$336.0K$1.41M$2.82M$4.94M$283.0K$117.0K$805.0K$967.0K$78.41M
Depreciation and amortization$10.14M$16.71M$21.00M$23.99M$18.34M$16.80M$23.61M$32.00M$40.14M$39.58M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY1.1%-1.1%-3.6%-14.3%25.5%-34.1%-19.1%-20.8%-5.6%-19.1%
Gross margin24.5%21.8%20.7%23.8%24.6%29.3%18.7%-12.2%1.8%9.7%
Operating margin3.5%-1.1%-3.4%-0.2%2.7%-0.3%-3.4%-40.2%-23.6%-7.7%
Net margin-6.2%-10.3%-33.6%-3.8%4.3%-1.8%-14.2%-68.3%-28.3%-8.1%
Free cash flow margin-14.6%-22.4%-8.9%-7.2%-16.6%-8.7%-21.0%-27.0%-15.2%-1.4%
Return on equity----52.7%----199.2%-20.6%
Return on assets-5.5%-8.2%-25.4%-2.4%3.4%-1.7%-19.5%-97.3%-28.7%-7.6%
Current ratio1.221.361.421.502.301.460.680.770.981.26
Debt to equity--------0.00-

Source: XBRL data Babcock & Wilcox Enterprises Inc. files with the SEC, latest filing dated Aug 10, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 5-for-46, first reported Aug 8, 2019.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

BW peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
BW$821.95M+42.6%-$18.35M-2.2%$484.1M
AYI$4.64B+6.8%$531.30M11.4%$9.59B
GFF$2.75B+26.9%$178.97M6.5%$4.58B
LYTS$689.40M+20.2%$22.58M3.3%$641.6M
JBI$901.80M+0.3%$33.20M3.7%$632.4M
SKYX$96.20M+8.1%-$33.04M-34.3%$101.4M
PCLA¥544.69M-30.6%-¥626.31M-115.0%$58.6M
OESX$94.25M+17.9%-$190.0K-0.2%$51.2M
EFOI$6.50M+53.5%-$1.54M-23.8%$25.7M

BW FAQ

9 questions
  • What is BW revenue?
    Babcock & Wilcox Enterprises Inc. (BW) reported $821.95M of revenue for the twelve months ended Jun 30, 2026. That is up 42.6% from the year before. Revenue for fiscal 2025 was $587.68M.
  • Is BW profitable?
    No. Babcock & Wilcox Enterprises Inc. reported a net loss of $18.35M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does BW have?
    Babcock & Wilcox Enterprises Inc. reported $308.63M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is BW revenue growing?
    Babcock & Wilcox Enterprises Inc.'s revenue changed +1.1% in fiscal 2025, to $587.68M. Its compound annual growth rate was +0.7% over 5 years and -10.4% over 10 years.
  • What is BW gross margin?
    Babcock & Wilcox Enterprises Inc.'s gross profit was $160.14M on $821.95M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 19.5%.
  • What is BW free cash flow?
    Babcock & Wilcox Enterprises Inc. generated -$58.17M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$34.73M less capital expenditures.
  • What is BW earnings per share?
    Diluted earnings per share were -$0.12 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did BW last report financial results?
    The latest statements here come from Babcock & Wilcox Enterprises Inc.'s 10-Q filed on Aug 10, 2026, covering the period ended Jun 30, 2026.
  • Where does this BW financial data come from?
    Quantisnow builds these statements from the structured XBRL data Babcock & Wilcox Enterprises Inc. files with the SEC. It is provided for information only and is not investment advice.