Babcock & Wilcox Enterprises I Financials
Babcock & Wilcox Enterprises I (BW) reported $834.4M in revenue over the twelve months to Jun 30, 2026, up 50.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Operating recovery is emerging, but the business still depends on non-operating cash while liabilities exceed assets.
FY2025’s operating income of$20.7M coexisted with operating cash flow of-$68.9M , so accounting improvement did not become cash. Accounts receivable rose from$91.8M in FY2024 to$118.4M in FY2025 while free cash flow remained negative, pointing to working-capital absorption as a key pressure on cash conversion.
Gross margin rebounded to
Liabilities exceeded assets by
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Babcock & Wilcox Enterprises I's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Babcock & Wilcox Enterprises I has an operating margin of 3.5%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 26/100, suggesting thin profitability after operating expenses. This is up from -1.1% the prior year.
Babcock & Wilcox Enterprises I's revenue grew a modest 1.1% year-over-year to $587.7M. This slow but positive growth earns a score of 32/100.
Babcock & Wilcox Enterprises I's current ratio of 1.22 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Babcock & Wilcox Enterprises I's operations used $68.9M of cash, and capex of $16.8M added to the outflow, for a free cash flow shortfall of $85.7M. This results in a cash flow score of 13/100.
Babcock & Wilcox Enterprises I scores -1.64, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.1B) relative to total liabilities ($794.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Babcock & Wilcox Enterprises I passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Babcock & Wilcox Enterprises I reported a net loss of $32.8M while operations used $68.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Babcock & Wilcox Enterprises I earns $4.61 in operating income for every $1 of interest expense ($20.7M vs $4.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Babcock & Wilcox Enterprises I generated $587.7M in revenue in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Babcock & Wilcox Enterprises I's EBITDA was $30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 197.6% from the prior year.
Babcock & Wilcox Enterprises I reported -$32.8M in net income in fiscal year 2025. This represents an increase of 55.0% from the prior year.
Babcock & Wilcox Enterprises I earned -$0.48 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.5% from the prior year.
Cash & Balance Sheet
Babcock & Wilcox Enterprises I recorded an outflow of $85.7M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 34.1% from the prior year.
Babcock & Wilcox Enterprises I held $89.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Babcock & Wilcox Enterprises I's gross margin was 24.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.7 percentage points from the prior year.
Babcock & Wilcox Enterprises I's operating margin was 3.5% in fiscal year 2025, reflecting core business profitability. This is up 4.6 percentage points from the prior year.
Babcock & Wilcox Enterprises I's net profit margin was -5.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.0 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Babcock & Wilcox Enterprises I spent $386K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 14.9% from the prior year.
Babcock & Wilcox Enterprises I invested $16.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 49.7% from the prior year.
Not reported for fiscal year 2025.
BW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $319.7M+49.1% | $214.4M+41.8% | $151.2M+1.5% | $149.0M+7.3% | $138.9M-6.6% | $148.6M+31.8% | $112.7M-26.2% | $152.6M |
| Cost of Revenue | $273.1M+59.7% | $171.0M+50.3% | $113.7M+1.7% | $111.9M+14.9% | $97.4M-19.4% | $120.8M+28.6% | $93.9M-19.4% | $116.5M |
| Gross Profit | $46.6M+7.3% | $43.5M+15.9% | $37.5M+0.9% | $37.1M-10.4% | $41.5M+49.3% | $27.8M+47.9% | $18.8M-48.0% | $36.1M |
| SG&A Expenses | $33.7M-24.1% | $44.4M+58.1% | $28.1M-5.8% | $29.8M-10.7% | $33.3M+17.8% | $28.3M+26.6% | $22.4M-32.9% | $33.3M |
| Operating Income | $11.8M+810.7% | -$1.7M-118.3% | $9.1M+39.4% | $6.5M-7.4% | $7.0M+480.7% | -$1.8M+79.9% | -$9.2M-685.6% | $1.6M |
| Interest Expense | $1.0M-28.0% | $1.4M+5.1% | $1.3M+2.2% | $1.3M-6.4% | $1.4M+209.5% | $452K-98.6% | $31.6M+8088.1% | $386K |
| Income Tax | -$1.1M-125.9% | $4.2M+217.8% | $1.3M+27.1% | $1.0M-74.4% | $4.0M+109.3% | $1.9M-75.1% | $7.7M+1620.5% | -$508K |
| Net Income | $14.3M+118.5% | -$76.9M-710.3% | $12.6M-64.1% | $35.1M+160.0% | -$58.5M-165.8% | -$22.0M+71.1% | -$76.1M-1328.0% | -$5.3M |
| EPS (Diluted) | $0.07 | -$0.60-766.7% | $0.09-70.0% | $0.30+147.6% | -$0.63-142.3% | -$0.26+64.4% | -$0.73 | -$0.10 |
Not reported in any period shown, so not listed: R&D Expenses.
BW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $999.6M+31.9% | $757.8M+14.3% | $662.9M+0.8% | $657.9M-6.5% | $703.5M-2.3% | $719.7M-1.0% | $727.0M-9.6% | $804.6M |
| Current Assets | $725.4M+47.7% | $491.3M+4.4% | $470.7M-1.9% | $479.7M-9.0% | $526.9M+9.1% | $482.9M-12.8% | $553.5M+4.4% | $530.2M |
| Cash & Equivalents | $308.6M+189.7% | $106.5M+19.1% | $89.5M+254.7% | $25.2M+7.6% | $23.4M-0.3% | $23.5M-12.5% | $26.9M-12.3% | $30.6M |
| Inventory | $61.0M+0.4% | $60.7M-0.2% | $60.9M-5.7% | $64.6M-1.7% | $65.7M-41.1% | $111.5M+91.2% | $58.3M-50.0% | $116.6M |
| Accounts Receivable | $170.7M+35.1% | $126.4M+6.7% | $118.4M+16.4% | $101.7M+4.9% | $96.9M-7.9% | $105.2M+14.6% | $91.8M+1.9% | $90.0M |
| Goodwill | $52.1M-1.1% | $52.7M-0.8% | $53.1M+1.0% | $52.6M-1.6% | $53.4M-35.2% | $82.5M+60.5% | $51.4M-39.2% | $84.6M |
| Total Liabilities | $942.2M+1.3% | $929.9M+17.1% | $794.5M-10.7% | $890.1M-12.1% | $1.0B-1.0% | $1.0B+1.2% | $1.0B+0.2% | $1.0B |
| Current Liabilities | $500.3M+1.2% | $494.5M+27.9% | $386.7M-3.6% | $401.0M-24.2% | $529.3M+3.5% | $511.2M+25.7% | $406.7M+36.5% | $297.9M |
| Total Equity | $57.4M+133.3% | -$172.1M-30.8% | -$131.5M+43.4% | -$232.2M+24.9% | -$309.2M-2.1% | -$303.0M-6.8% | -$283.8M-39.3% | -$203.7M |
| Retained Earnings | -$1.8B+0.6% | -$1.8B-4.8% | -$1.7B+0.3% | -$1.7B+1.8% | -$1.7B-3.7% | -$1.7B-1.6% | -$1.6B-4.2% | -$1.6B |
Not reported in any period shown, so not listed: Long-Term Debt.
BW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$17.4M-197.9% | $17.8M+694.9% | -$3.0M+90.7% | -$32.1M-26.9% | -$25.3M-198.6% | -$8.5M+62.4% | -$22.5M+67.6% | -$69.5M |
| Capital Expenditures | $6.6M-7.1% | $7.1M+70.7% | $4.2M-24.3% | $5.5M+100.8% | $2.7M-36.5% | $4.3M+301.5% | $1.1M-50.0% | $2.2M |
| Free Cash Flow | -$24.0M-325.4% | $10.7M+248.8% | -$7.2M+81.0% | -$37.6M-34.1% | -$28.1M-119.1% | -$12.8M+45.7% | -$23.6M+67.1% | -$71.6M |
| Investing Cash Flow | -$6.3M-78.8% | -$3.5M-114.4% | $24.6M-84.8% | $161.8M+1011.4% | $14.6M+472.6% | -$3.9M-112.2% | $32.0M+1561.3% | $1.9M |
| Financing Cash Flow | $211.7M+1142.5% | -$20.3M+4.9% | -$21.4M+46.6% | -$40.0M-1434.5% | $3.0M+823.2% | -$414K+62.6% | -$1.1M+89.7% | -$10.8M |
| Share Buybacks | N/A | N/A | $0-100.0% | $386K | N/A | N/A | $62K-76.0% | $258K |
Not reported in any period shown, so not listed: Dividends Paid.
BW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.6%-5.7pp | 20.3%-4.5pp | 24.8%-0.1pp | 24.9%-4.9pp | 29.8%+11.2pp | 18.7%+2.0pp | 16.7%-7.0pp | 23.7% |
| Operating Margin | 3.7%+4.5pp | -0.8%-6.8pp | 6.0%+1.6pp | 4.4%-0.7pp | 5.1%+6.3pp | -1.2%+6.9pp | -8.1%-9.2pp | 1.0% |
| Net Margin | 4.5%+40.3pp | -35.9%-44.2pp | 8.3%-15.2pp | 23.5%+65.7pp | -42.1%-27.3pp | -14.8%+52.8pp | -67.6%-64.1pp | -3.5% |
| Return on Equity | 24.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 1.4%+11.6pp | -10.2%-12.1pp | 1.9%-3.4pp | 5.3%+13.6pp | -8.3%-5.2pp | -3.1%+7.4pp | -10.5%-9.8pp | -0.7% |
| Current Ratio | 1.45+0.5x | 0.99-0.2x | 1.220.0x | 1.20+0.2x | 1.00+0.1x | 0.94-0.4x | 1.36-0.4x | 1.78 |
| Debt-to-Equity | 16.42 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -7.5%-12.5pp | 5.0%+9.7pp | -4.7%+20.5pp | -25.3%-5.0pp | -20.2%-11.6pp | -8.6%+12.3pp | -20.9%+26.0pp | -46.9% |
Note: Shareholder equity is negative (-$131.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Where Babcock & Wilcox Enterprises I Ranks
Frequently Asked Questions
What is Babcock & Wilcox Enterprises I's annual revenue?
Babcock & Wilcox Enterprises I (BW) reported $587.7M in total revenue for fiscal year 2025. This represents a 1.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Babcock & Wilcox Enterprises I's revenue growing?
Babcock & Wilcox Enterprises I (BW) revenue grew by 1.1% year-over-year, from $581.0M to $587.7M in fiscal year 2025.
Is Babcock & Wilcox Enterprises I profitable?
No, Babcock & Wilcox Enterprises I (BW) reported a net income of -$32.8M in fiscal year 2025, with a net profit margin of -5.6%.
What is Babcock & Wilcox Enterprises I's EBITDA?
Babcock & Wilcox Enterprises I (BW) had EBITDA of $30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Babcock & Wilcox Enterprises I's gross margin?
Babcock & Wilcox Enterprises I (BW) had a gross margin of 24.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Babcock & Wilcox Enterprises I's operating margin?
Babcock & Wilcox Enterprises I (BW) had an operating margin of 3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Babcock & Wilcox Enterprises I's net profit margin?
Babcock & Wilcox Enterprises I (BW) had a net profit margin of -5.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Babcock & Wilcox Enterprises I's free cash flow?
Babcock & Wilcox Enterprises I (BW) recorded an outflow of $85.7M in free cash flow during fiscal year 2025. This represents a 34.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Babcock & Wilcox Enterprises I's operating cash flow?
Babcock & Wilcox Enterprises I (BW) recorded an outflow of $68.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Babcock & Wilcox Enterprises I's total assets?
Babcock & Wilcox Enterprises I (BW) had $662.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Babcock & Wilcox Enterprises I's capital expenditures?
Babcock & Wilcox Enterprises I (BW) invested $16.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Babcock & Wilcox Enterprises I's current ratio?
Babcock & Wilcox Enterprises I (BW) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.
What is Babcock & Wilcox Enterprises I's return on assets (ROA)?
Babcock & Wilcox Enterprises I (BW) had a return on assets of -5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Babcock & Wilcox Enterprises I's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Babcock & Wilcox Enterprises I (BW) held $96.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $68.9M over that year. Dividing the one by the other, the reported balance equals about 17 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Babcock & Wilcox Enterprises I's debt-to-equity ratio negative or not reported?
Babcock & Wilcox Enterprises I (BW) has negative shareholder equity of -$131.5M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Babcock & Wilcox Enterprises I's Altman Z-Score?
Babcock & Wilcox Enterprises I (BW) has an Altman Z-Score of -1.64, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Babcock & Wilcox Enterprises I's Piotroski F-Score?
Babcock & Wilcox Enterprises I (BW) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Babcock & Wilcox Enterprises I's earnings high quality?
Babcock & Wilcox Enterprises I (BW) reported a net loss of $32.8M while operations used $68.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Babcock & Wilcox Enterprises I cover its interest payments?
Babcock & Wilcox Enterprises I (BW) has an interest coverage ratio of 4.61x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Babcock & Wilcox Enterprises I?
Babcock & Wilcox Enterprises I (BW) scores 22 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.