What is Babcock & Wilcox Enterprises, Inc.'s earnings per share (EPS)?

Babcock & Wilcox Enterprises, Inc. (BW) reported diluted earnings per share of -$0.48 for fiscal year 2025. This represents a 41.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Babcock & Wilcox Enterprises, Inc. (BW) Financials

Trailing 12 months to June 30, 2026

Revenue $834.4M +50.9% YoY

Net Income -$15.0M +90.7% YoY

EPS (Diluted) -$0.14 YoY not available

Free Cash Flow -$58.2M +57.3% YoY

Market Cap $741.8M as of Oct 13, 2026

Price / Sales 0.9x on $834.4M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 12.9x on $57.4M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BW SEC filings page.

Babcock & Wilcox Enterprises, Inc. (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).

Rhea AI BW FY2025 2026-10-03

Operating profitability returned as overhead and interest costs fell, but negative cash generation and equity still below zero define the business.

FY2025’s operating margin moved from -1.1% in FY2024 to 3.5% while revenue was nearly unchanged and SG&A declined; that combination points to internal cost reduction rather than sales growth driving the improvement. Yet operating cash flow remained -$69M and free cash flow -$86M, so the accounting rebound has not become operating cash.

Liabilities fell from $1.0B in FY2024 to $794M in FY2025, easing the balance-sheet burden, but balance-sheet repair remains incomplete. Equity remained negative at -$132M and the current ratio slipped to 1.2x, leaving short-term coverage thinner despite the liability reduction.

FY2025’s $197M investing cash inflow exceeded the $69M operating cash outflow, making reported cash movement look better than the core business’s cash production. Capital spending was $17M, yet free cash flow was -$86M; reported liquidity equaled 16.8 months of latest annual operating outflow, a comparison that sits alongside—not instead of—continued operating cash use.

Financial Health Signals

Financial Health Score 20/100

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, Inc.'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.

Profitability

Babcock & Wilcox Enterprises, Inc. 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 23/100, suggesting thin profitability after operating expenses. This is up from -1.1% the prior year.

Growth

Babcock & Wilcox Enterprises, Inc.'s revenue grew a modest 1.1% year-over-year to $587.7M. This slow but positive growth earns a score of 31/100.

Leverage

Liquidity

Babcock & Wilcox Enterprises, Inc.'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.

Cash Flow

Babcock & Wilcox Enterprises, Inc.'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 9/100.

Returns

Altman Z-Score Distress

-1.88

Babcock & Wilcox Enterprises, Inc. scores -1.88, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($741.8M) 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.

Piotroski F-Score Partial

3/8

Babcock & Wilcox Enterprises, Inc. 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.

Earnings Quality No Cash Backing

N/A

Babcock & Wilcox Enterprises, Inc. 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.

Interest Coverage Adequate

4.61x

Babcock & Wilcox Enterprises, Inc. 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

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Earnings & Revenue

Revenue

$319.7M

YoY+130.3%

QoQ+49.1%

Babcock & Wilcox Enterprises, Inc. generated $319.7M in revenue in Q2 2026. This represents an increase of 130.3% from the same quarter a year earlier. Against the prior quarter it is up 49.1%.

EBITDA

$14.3M

YoY+56.1%

QoQ+1589.5%

Babcock & Wilcox Enterprises, Inc.'s EBITDA was $14.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 56.1% from the same quarter a year earlier. Against the prior quarter it is up 1589.5%.

Net Income

$14.3M

YoY+124.4%

QoQ+118.5%

Babcock & Wilcox Enterprises, Inc. reported $14.3M in net income in Q2 2026. This represents an increase of 124.4% from the same quarter a year earlier. Against the prior quarter it is up 118.5%.

EPS (Diluted)

$0.07

5Y CAGR+28.5%

Babcock & Wilcox Enterprises, Inc. earned $0.07 per diluted share (EPS) in Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$24.0M

YoY+14.3%

QoQ-325.4%

Babcock & Wilcox Enterprises, Inc. recorded an outflow of $24.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 14.3% from the same quarter a year earlier. Against the prior quarter it is down 325.4%.

Cash & Debt

$308.6M

YoY+1217.3%

QoQ+189.7%

5Y CAGR+59.3%

10Y CAGR+2.1%

Babcock & Wilcox Enterprises, Inc. held $308.6M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

149M

5Y CAGR+11.7%

10Y CAGR+11.5%

Babcock & Wilcox Enterprises, Inc. had 149M shares outstanding in Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

14.6%

YoY-15.3pp

QoQ-5.7pp

Babcock & Wilcox Enterprises, Inc.'s gross margin was 14.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 15.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.7 percentage points.

Operating Margin

3.7%

YoY-1.4pp

QoQ+4.5pp

Babcock & Wilcox Enterprises, Inc.'s operating margin was 3.7% in Q2 2026, reflecting core business profitability. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.5 percentage points.

Net Margin

4.5%

YoY+46.6pp

QoQ+40.3pp

Babcock & Wilcox Enterprises, Inc.'s net profit margin was 4.5% in Q2 2026, showing the share of revenue converted to profit. This is up 46.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 40.3 percentage points.

Return on Equity

24.9%

Babcock & Wilcox Enterprises, Inc.'s ROE was 24.9% in Q2 2026, measuring profit generated per dollar of shareholder equity.

Capital Allocation

Capital Expenditures

$6.6M

YoY+140.9%

QoQ-7.1%

Babcock & Wilcox Enterprises, Inc. invested $6.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 140.9% from the same quarter a year earlier. Against the prior quarter it is down 7.1%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

BW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Revenue	$834.4M	$587.7M+1.1%	$581.0M-1.1%	$587.4M-3.6%	$609.4M-14.3%	$710.9M+25.5%	$566.3M-34.1%	$859.1M-19.1%	$1.1B-20.8%	$1.3B-5.6%	$1.4B-19.1%	$1.8B+18.3%	$1.5B-15.9%	$1.8B
Cost of Revenue	$669.6M	$443.8M-2.3%	$454.3M-2.5%	$466.0M+0.4%	$464.3M-13.3%	$535.8M+12122.3%	$4.4M-51.7%	$9.1M-51.3%	$18.6M+600.5%	$2.7M	$0-100.0%	$1.4B+14.4%	$1.3B-4.8%	$1.3B
Gross Profit	$164.7M	$143.9M+13.5%	$126.7M+4.3%	$121.5M-16.3%	$145.1M-17.1%	$175.0M-68.8%	$561.9M-33.9%	$850.0M-18.6%	$1.0B+4209.9%	$24.2M-82.5%	$138.3M-55.1%	$308.2M+40.7%	$219.0M-49.8%	$436.5M
R&D Expenses	N/A	N/A	N/A	N/A	$3.8M+137.5%	$1.6M-63.6%	$4.4M+51.7%	$2.9M-23.3%	$3.8M-50.4%	$7.6M-14.0%	$8.8M-46.4%	$16.5M-10.7%	$18.5M-12.2%	$21.0M
SG&A Expenses	$135.9M	$119.5M-4.1%	$124.5M-7.7%	$134.9M-11.6%	$152.7M+0.6%	$151.8M+7.1%	$141.7M-6.2%	$151.1M-26.2%	$204.7M-7.4%	$221.1M+1.9%	$217.1M-9.5%	$240.0M+6.5%	$225.3M+10.4%	$204.1M
Operating Income	$25.7M	$20.7M+427.3%	-$6.3M+68.4%	-$20.1M-1638.7%	-$1.2M-105.9%	$19.4M+1218.1%	-$1.7M+94.1%	-$29.4M+93.1%	-$426.6M-34.8%	-$316.4M-187.6%	-$110.0M-603.2%	$21.9M+157.6%	-$38.0M-118.1%	$210.2M
EBITDA	N/A	$30.9M+197.6%	$10.4M+1014.2%	$931K-95.9%	$22.8M-39.5%	$37.8M+150.6%	$15.1M+360.8%	-$5.8M+98.5%	-$394.6M-42.9%	-$276.2M-292.2%	-$70.4M-224.0%	$56.8M+1125.3%	-$5.5M-102.4%	$233.3M
Interest Expense	$5.1M	$4.5M-90.3%	$46.1M+8.4%	$42.6M+7.0%	$39.8M+0.7%	$39.5M-33.9%	$59.8M-37.0%	$94.9M+91.3%	$49.6M+91.3%	$25.9M+600.5%	$3.7M+58.3%	$2.3M+375.2%	$492K+6.5%	$462K
Income Tax	$5.4M	$8.3M-35.3%	$12.8M+128.4%	$5.6M-38.2%	$9.1M+547.3%	-$2.0M-124.8%	$8.2M+54.7%	$5.3M-94.8%	$102.2M+60.5%	$63.7M+2254.4%	$2.7M-26.3%	$3.7M+114.8%	-$24.7M-134.3%	$72.0M
Net Income	-$15.0M	-$32.8M+55.0%	-$72.9M+3.8%	-$75.8M-433.8%	-$14.2M-144.4%	$32.0M+410.1%	-$10.3M+91.5%	-$122.0M+83.2%	-$725.3M-91.0%	-$379.8M-228.4%	-$115.6M-704.2%	$19.1M+172.2%	-$26.5M-115.2%	$174.5M
EPS (Basic)	N/A	-$0.48+41.5%	-$0.82+65.5%	-$2.38-453.5%	-$0.43-265.4%	$0.26+223.8%	-$0.21+94.6%	-$3.87	N/A	-$8.09-250.2%	-$2.31-741.7%	$0.36+173.5%	-$0.49-115.7%	$3.12
EPS (Diluted)	-$0.14	-$0.48+41.5%	-$0.82	-$2.38-453.5%	-$0.43	$0.26	-$0.21	-$3.87	N/A	-$8.09-250.2%	-$2.31-741.7%	$0.36+173.5%	-$0.49-115.8%	$3.10
Diluted Shares (Avg)	N/A	105M+14.9%	92M	89M+0.9%	88M	84M	49M	32M	N/A	47M-6.4%	50M-6.7%	54M-1.0%	54M-3.7%	56M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$319.7M+130.3%	$214.4M+44.3%	$151.2M+34.2%	$149.0M-2.4%	$138.9M-8.3%	$148.6M-9.6%	$112.7M	$152.6M-36.2%
Cost of Revenue	$273.1M+180.4%	$171.0M+41.5%	$113.7M+21.1%	$111.9M-4.0%	$97.4M-17.7%	$120.8M-3.7%	$93.9M	$116.5M-37.4%
Gross Profit	$46.6M+12.5%	$43.5M+56.5%	$37.5M+99.7%	$37.1M+2.8%	$41.5M+25.3%	$27.8M-28.4%	$18.8M	$36.1M-32.3%
SG&A Expenses	$33.7M+1.1%	$44.4M+56.8%	$28.1M+25.5%	$29.8M-10.7%	$33.3M-9.0%	$28.3M-12.1%	$22.4M	$33.3M-27.0%
Operating Income	$11.8M+67.7%	-$1.7M+10.1%	$9.1M+198.8%	$6.5M+314.8%	$7.0M+257.7%	-$1.8M-132.2%	-$9.2M	$1.6M-71.7%
EBITDA	$14.3M+56.1%	$845K+33.5%	$11.7M+483.8%	$9.4M+114.1%	$9.1M+702.8%	$633K-94.0%	-$3.1M	$4.4M-59.4%
Interest Expense	$1.0M-27.7%	$1.4M+211.1%	$1.3M-95.8%	$1.3M+239.1%	$1.4M+6.0%	$452K-96.5%	$31.6M	$386K-97.1%
Income Tax	-$1.1M-126.7%	$4.2M+116.1%	$1.3M-83.1%	$1.0M+302.4%	$4.0M-14.0%	$1.9M+111.9%	$7.7M	-$508K-53.5%
Net Income	$14.3M+124.4%	-$76.9M-249.6%	$12.6M+116.6%	$35.1M+758.1%	-$58.5M-330.2%	-$22.0M-30.7%	-$76.1M	-$5.3M+95.4%
EPS (Basic)	$0.07+111.1%	-$0.60-130.8%	$0.09+112.3%	$0.30+400.0%	-$0.63-362.5%	-$0.26-13.0%	-$0.73+1.4%	-$0.10+92.6%
EPS (Diluted)	$0.07	-$0.60	$0.09+112.3%	$0.30	-$0.63-362.5%	-$0.26-13.0%	-$0.73+1.4%	-$0.10
Diluted Shares (Avg)	155M	134M	N/A	103M	99M+8.3%	98M+9.4%	N/A	92M

Not reported in any period shown, so not listed: R&D Expenses.

BW Balance Sheet

BW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Total Assets	$662.9M-8.8%	$727.0M-6.3%	$775.7M-17.6%	$941.7M+3.1%	$913.3M+52.4%	$599.1M-4.4%	$626.5M-16.0%	$745.5M-43.6%	$1.3B-13.5%	$1.5B-8.1%	$1.7B+9.7%	$1.5B	N/A
Current Assets	$470.7M-15.0%	$553.5M+11.2%	$497.6M-10.8%	$557.6M-4.3%	$582.4M+47.0%	$396.1M-3.9%	$412.2M-25.0%	$549.6M-24.9%	$732.3M-5.8%	$777.5M-20.5%	$978.2M+15.2%	$848.8M	N/A
Cash & Equivalents	$89.5M+233.1%	$26.9M-58.9%	$65.3M-14.8%	$76.7M-65.9%	$224.9M+292.2%	$57.3M+31.0%	$43.8M+1.3%	$43.2M-1.2%	$43.7M-50.0%	$87.4M-76.1%	$365.2M+67.0%	$218.7M+14.3%	$191.3M
Short-Term Investments	$6.5M	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$4.0M+148.7%	$1.6M	$0
Inventory	$60.9M+4.4%	$58.3M-40.3%	$97.6M-4.9%	$102.6M+29.1%	$79.5M+6.8%	$74.4M+18.0%	$63.1M+2.9%	$61.3M-15.9%	$72.9M-15.0%	$85.8M-4.8%	$90.1M-8.7%	$98.7M	N/A
Accounts Receivable	$118.4M+29.0%	$91.8M+18.5%	$77.5M-51.1%	$158.4M+19.9%	$132.1M+2.9%	$128.3M-9.8%	$142.2M-27.9%	$197.2M-21.9%	$252.5M-10.6%	$282.3M-3.1%	$291.2M+9.7%	$265.5M	N/A
Long-Term Investments	$600K	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$1.1M+410.7%	$214K	$0
Goodwill	$53.1M+3.3%	$51.4M-5.3%	$54.3M-35.5%	$84.2M-27.7%	$116.5M+145.9%	$47.4M+0.4%	$47.2M+0.1%	$47.1M-45.0%	$85.7M-47.5%	$163.1M-18.9%	$201.1M-3.9%	$209.3M+100.0%	$104.6M
Total Liabilities	$794.5M-21.4%	$1.0B+3.5%	$976.0M+3.4%	$943.8M+10.4%	$854.6M-8.1%	$930.1M+0.9%	$921.5M-9.9%	$1.0B-9.6%	$1.1B+16.9%	$968.2M+5.9%	$914.6M+10.3%	$829.1M	N/A
Current Liabilities	$386.7M-4.9%	$406.7M+16.1%	$350.2M-5.7%	$371.5M+46.6%	$253.4M-6.4%	$270.8M-55.0%	$602.5M-15.4%	$712.0M-4.3%	$744.3M+20.5%	$617.5M+10.0%	$561.4M+15.0%	$488.1M	N/A
Non-Current Liabilities	$407.8M-32.4%	$603.5M-3.6%	$625.8M+9.4%	$572.2M-4.8%	$601.3M-8.8%	$659.2M+106.7%	$319.0M+2.6%	$310.8M-19.7%	$387.2M+10.4%	$350.7M-0.7%	$353.3M+3.6%	$341.0M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$183.3M	N/A	$30.6M	$0	N/A	N/A	N/A	N/A
Total Equity	-$131.5M+53.6%	-$283.8M-41.2%	-$201.0M-7707.3%	-$2.6M-107.8%	$33.1M+110.0%	-$332.1M-12.1%	-$296.4M-3.6%	-$286.1M-257.1%	$182.1M-67.0%	$552.1M-26.2%	$747.7M+8.9%	$686.4M+30.6%	$525.6M
Retained Earnings	-$1.7B-3.1%	-$1.6B-4.8%	-$1.6B-15.6%	-$1.4B-2.9%	-$1.3B+1.6%	-$1.3B-0.2%	-$1.3B-10.0%	-$1.2B-147.5%	-$492.1M-329.1%	-$114.7M-11984.4%	$965K	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$999.6M+42.1%	$757.8M+5.3%	$662.9M-8.8%	$657.9M-18.2%	$703.5M-17.2%	$719.7M-9.5%	$727.0M-6.3%	$804.6M-3.9%
Current Assets	$725.4M+37.7%	$491.3M+1.7%	$470.7M-15.0%	$479.7M-9.5%	$526.9M-8.3%	$482.9M+0.1%	$553.5M+11.2%	$530.2M-2.2%
Cash & Equivalents	$308.6M+1217.3%	$106.5M+353.6%	$89.5M+233.1%	$25.2M-17.7%	$23.4M-75.5%	$23.5M-46.5%	$26.9M-58.9%	$30.6M-36.7%
Short-Term Investments	$5.4M+35.0%	$6.1M+35.6%	$6.5M	$6.5M	$4.0M	$4.5M	$0	$0
Inventory	$61.0M-7.2%	$60.7M-45.5%	$60.9M+4.4%	$64.6M-44.6%	$65.7M-40.4%	$111.5M-0.8%	$58.3M-40.3%	$116.6M+2.7%
Accounts Receivable	$170.7M+76.3%	$126.4M+20.1%	$118.4M+29.0%	$101.7M+12.9%	$96.9M-0.7%	$105.2M-15.4%	$91.8M+18.5%	$90.0M-41.6%
Long-Term Investments	$1.7M-43.3%	$700K-70.8%	$600K	$600K	$3.0M	$2.4M	$0	$0
Goodwill	$52.1M-2.5%	$52.7M-36.1%	$53.1M+3.3%	$52.6M-37.8%	$53.4M-36.3%	$82.5M-18.0%	$51.4M-5.3%	$84.6M-15.7%
Total Liabilities	$942.2M-6.9%	$929.9M-9.0%	$794.5M-21.4%	$890.1M-11.7%	$1.0B-3.4%	$1.0B+0.4%	$1.0B+3.5%	$1.0B+2.9%
Current Liabilities	$500.3M-5.5%	$494.5M-3.3%	$386.7M-4.9%	$401.0M+34.6%	$529.3M+58.5%	$511.2M+53.6%	$406.7M+16.1%	$297.9M-24.3%
Non-Current Liabilities	$441.9M-8.5%	$435.4M-14.8%	$407.8M-32.4%	$489.1M-31.1%	$482.9M-32.3%	$511.0M-25.4%	$603.5M-3.6%	$709.8M+21.2%
Total Equity	$57.4M+118.6%	-$172.1M+43.2%	-$131.5M+53.6%	-$232.2M-14.0%	-$309.2M-55.4%	-$303.0M-35.9%	-$283.8M-41.2%	-$203.7M-43.1%
Retained Earnings	-$1.8B-1.9%	-$1.8B-6.3%	-$1.7B-3.1%	-$1.7B-7.8%	-$1.7B-10.4%	-$1.7B-5.0%	-$1.6B-4.8%	-$1.6B-4.9%

Not reported in any period shown, so not listed: Long-Term Debt.

BW Cash Flow Statement

BW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Operating Cash Flow	-$34.7M	-$68.9M+42.0%	-$118.7M-180.9%	-$42.3M-38.0%	-$30.6M+72.4%	-$111.2M-172.5%	-$40.8M+76.9%	-$176.3M+37.5%	-$281.9M-48.5%	-$189.8M-8451.6%	$2.3M-98.7%	$170.4M+803.4%	-$24.2M-247.7%	$16.4M
Depreciation & Amortization	N/A	$10.1M-39.3%	$16.7M-20.4%	$21.0M-12.5%	$24.0M+30.8%	$18.3M+9.1%	$16.8M-28.8%	$23.6M-26.2%	$32.0M-20.3%	$40.1M+1.4%	$39.6M+13.3%	$34.9M+7.7%	$32.4M+40.8%	$23.0M
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$7.8M+70763.6%	-$11K+93.6%	-$172K
Capital Expenditures	$23.4M	$16.8M+49.7%	$11.2M+14.3%	$9.8M-26.0%	$13.2M+98.2%	$6.7M-18.8%	$8.2M+116.4%	$3.8M-30.5%	$5.5M-61.7%	$14.3M-36.4%	$22.4M-36.6%	$35.4M+128.7%	$15.5M+33.5%	$11.6M
Free Cash Flow	-$58.2M	-$85.7M+34.1%	-$129.9M-149.5%	-$52.1M-18.7%	-$43.9M+62.8%	-$117.9M-140.4%	-$49.0M+72.8%	-$180.1M+37.3%	-$287.4M-40.8%	-$204.1M-911.6%	-$20.2M-114.9%	$135.0M+440.1%	-$39.7M-925.0%	$4.8M
Investing Cash Flow	$176.5M	$197.0M+79.2%	$110.0M+1485.2%	-$7.9M+88.5%	-$68.8M-105.1%	-$33.5M-1611.5%	$2.2M-74.7%	$8.8M-95.1%	$179.2M+380.3%	-$63.9M+66.4%	-$190.2M	N/A	N/A	N/A
Financing Cash Flow	$130.1M	-$58.7M-184.2%	$69.7M+715.0%	$8.6M+176.6%	-$11.2M-103.7%	$302.8M+586.7%	$44.1M-73.6%	$167.0M+102.2%	$82.6M-59.9%	$206.1M+347.1%	-$83.4M	N/A	N/A	N/A
Share Buybacks	N/A	$386K+14.9%	$336K-76.2%	$1.4M-49.9%	$2.8M-43.0%	$4.9M+1647.0%	$283K+141.9%	$117K-85.5%	$805K-16.8%	$967K-98.8%	$78.4M+208.6%	$25.4M	$0	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$17.4M+31.2%	$17.8M+309.9%	-$3.0M+86.7%	-$32.1M+53.8%	-$25.3M-114.4%	-$8.5M+43.3%	-$22.5M-374.5%	-$69.5M-146.2%
Depreciation & Amortization	$2.5M+17.8%	$2.5M+1.0%	$2.4M-19.8%	$2.9M+2.3%	$2.1M-27.4%	$2.5M-48.9%	$3.0M-34.0%	$2.8M-46.3%
Stock-Based Compensation	N/A	$13.2M+1641.1%	N/A	N/A	N/A	$760K	N/A	N/A
Capital Expenditures	$6.6M+140.9%	$7.1M+64.7%	$4.2M+287.3%	$5.5M+155.8%	$2.7M-39.9%	$4.3M+27.5%	$1.1M+44.5%	$2.2M-56.4%
Free Cash Flow	-$24.0M+14.3%	$10.7M+183.3%	-$7.2M+69.6%	-$37.6M+47.5%	-$28.1M-71.3%	-$12.8M+30.1%	-$23.6M-416.5%	-$71.6M-115.9%
Investing Cash Flow	-$6.3M-143.4%	-$3.5M+9.4%	$24.6M-23.1%	$161.8M+8299.3%	$14.6M-81.5%	-$3.9M-37.1%	$32.0M+4815.1%	$1.9M+143.5%
Financing Cash Flow	$211.7M+6972.4%	-$20.3M-4806.3%	-$21.4M-1828.8%	-$40.0M-270.7%	$3.0M-90.1%	-$414K-100.8%	-$1.1M+67.2%	-$10.8M-166.6%
Share Buybacks	N/A	N/A	$0-100.0%	$386K+49.6%	N/A	N/A	$62K+376.9%	$258K-80.6%

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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Gross Margin	24.5%+2.7pp	21.8%+1.1pp	20.7%-3.1pp	23.8%-0.8pp	24.6%-74.6pp	99.2%+0.3pp	98.9%+0.7pp	98.2%+96.4pp	1.8%-7.9pp	9.7%-7.8pp	17.5%+2.8pp	14.7%-10.0pp	24.7%
Operating Margin	3.5%+4.6pp	-1.1%+2.3pp	-3.4%-3.2pp	-0.2%-2.9pp	2.7%+3.0pp	-0.3%+3.1pp	-3.4%+36.7pp	-40.2%-16.6pp	-23.6%-15.8pp	-7.7%-9.0pp	1.2%+3.8pp	-2.6%-14.5pp	11.9%
Net Margin	-5.6%+7.0pp	-12.6%+0.4pp	-12.9%-10.6pp	-2.3%-6.8pp	4.5%+6.3pp	-1.8%+12.4pp	-14.2%+54.1pp	-68.3%-40.0pp	-28.3%-20.2pp	-8.1%-9.2pp	1.1%+2.9pp	-1.8%-11.7pp	9.9%
Return on Equity	N/A	N/A	N/A	N/A	96.5%	N/A	N/A	N/A	-208.6%-187.6pp	-20.9%-23.5pp	2.6%+6.4pp	-3.9%-37.1pp	33.2%
Return on Assets	-5.0%+5.1pp	-10.0%-0.3pp	-9.8%-8.3pp	-1.5%-5.0pp	3.5%+5.2pp	-1.7%+17.8pp	-19.5%+77.8pp	-97.3%-68.6pp	-28.7%-21.2pp	-7.6%-8.7pp	1.1%+2.9pp	-1.8%	N/A
Current Ratio	1.22-0.1x	1.36-0.1x	1.42-0.1x	1.50-0.8x	2.30+0.8x	1.46+0.8x	0.68-0.1x	0.77-0.2x	0.98-0.3x	1.26-0.5x	1.740.0x	1.74	N/A
Debt-to-Equity	N/A	N/A	N/A	N/A	25.78	N/A	N/A	N/A	0.00-1.8x	1.75+0.5x	1.220.0x	1.21	N/A
Asset Turnover	0.89+0.1x	0.800.0x	0.76+0.1x	0.65-0.1x	0.78-0.2x	0.95-0.4x	1.37-0.1x	1.43+0.4x	1.01+0.1x	0.93-0.1x	1.06+0.1x	0.98	N/A
FCF Margin	-14.6%+7.8pp	-22.4%-13.5pp	-8.9%-1.7pp	-7.2%+9.4pp	-16.6%-7.9pp	-8.7%+12.3pp	-21.0%+6.1pp	-27.1%-11.8pp	-15.2%-13.8pp	-1.4%-9.1pp	7.7%+10.3pp	-2.7%-2.9pp	0.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	14.6%-15.3pp	20.3%+1.6pp	24.8%+8.1pp	24.9%+1.3pp	29.8%+8.0pp	18.7%-4.9pp	16.7%	23.7%+1.4pp
Operating Margin	3.7%-1.4pp	-0.8%+0.5pp	6.0%+14.1pp	4.4%+3.3pp	5.1%+8.0pp	-1.2%-4.7pp	-8.1%	1.0%-1.3pp
Net Margin	4.5%+46.6pp	-35.9%-21.1pp	8.3%+75.9pp	23.5%+27.0pp	-42.1%-58.9pp	-14.8%-4.6pp	-67.6%	-3.5%+45.3pp
Return on Equity	24.9%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	1.4%+9.7pp	-10.2%-7.1pp	1.9%+12.4pp	5.3%+6.0pp	-8.3%-11.3pp	-3.1%-0.9pp	-10.5%	-0.7%+13.3pp
Current Ratio	1.45+0.5x	0.990.0x	1.22-0.1x	1.20-0.6x	1.00-0.7x	0.94-0.5x	1.36-0.1x	1.78+0.4x
Debt-to-Equity	16.42	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Asset Turnover	0.32+0.1x	0.28+0.1x	0.23+0.1x	0.230.0x	0.200.0x	0.210.0x	0.15	0.19-0.1x
FCF Margin	-7.5%+12.7pp	5.0%+13.6pp	-4.7%+16.2pp	-25.3%+21.7pp	-20.2%-9.4pp	-8.6%+2.5pp	-20.9%	-46.9%-33.1pp

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

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Babcock & Wilcox Enterprises, Inc. BW	FY2025	$587.7M	-$32.8M	-5.6%	$741.8M	20/100
ZJK Industrial Co., Ltd. ZJK	FY2025	$56.1M	$10.2M	18.1%	$124.8M	57/100
Twin Disc, Incorporated TWIN	FY2026	$381.3M	$34.5M	9.1%	$381.6M	60/100
NET Power Inc. NPWR	FY2025	$0	-$578.6M	N/A	$108.8M	—
Taylor Devices Inc TAYD	FY2026	$41.6M	$8.6M	20.6%	$193.6M	72/100
Hurco Cos Inc HURC	FY2025	$178.6M	-$15.1M	-8.5%	$137.6M	40/100

Where Babcock & Wilcox Enterprises, Inc. Ranks

Frequently Asked Questions

What is Babcock & Wilcox Enterprises, Inc.'s annual revenue?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s revenue growing?

Babcock & Wilcox Enterprises, Inc. (BW) revenue grew by 1.1% year-over-year, from $581.0M to $587.7M in fiscal year 2025.

Is Babcock & Wilcox Enterprises, Inc. profitable?

No, Babcock & Wilcox Enterprises, Inc. (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, Inc.'s EBITDA?

Babcock & Wilcox Enterprises, Inc. (BW) had EBITDA of $30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Babcock & Wilcox Enterprises, Inc.'s gross margin?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s operating margin?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s net profit margin?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s free cash flow?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s operating cash flow?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s total assets?

Babcock & Wilcox Enterprises, Inc. (BW) had $662.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Babcock & Wilcox Enterprises, Inc.'s capital expenditures?

Babcock & Wilcox Enterprises, Inc. (BW) invested $16.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Babcock & Wilcox Enterprises, Inc. buy back shares?

Yes, Babcock & Wilcox Enterprises, Inc. (BW) spent $386K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Babcock & Wilcox Enterprises, Inc. have outstanding?

Babcock & Wilcox Enterprises, Inc. (BW) had 135M shares outstanding as of fiscal year 2025.

What is Babcock & Wilcox Enterprises, Inc.'s current ratio?

Babcock & Wilcox Enterprises, Inc. (BW) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.

What is Babcock & Wilcox Enterprises, Inc.'s return on assets (ROA)?

Babcock & Wilcox Enterprises, Inc. (BW) had a return on assets of -5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Babcock & Wilcox Enterprises, Inc.'s P/E ratio?

Babcock & Wilcox Enterprises, Inc. (BW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $741.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Babcock & Wilcox Enterprises, Inc.'s price-to-sales ratio?

Babcock & Wilcox Enterprises, Inc. (BW) trades at 0.9x sales, its market capitalization divided by revenue of $834.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $741.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Babcock & Wilcox Enterprises, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Babcock & Wilcox Enterprises, Inc. (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, Inc.'s debt-to-equity ratio negative or not reported?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s Altman Z-Score?

Babcock & Wilcox Enterprises, Inc. (BW) has an Altman Z-Score of -1.88, 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, Inc.'s Piotroski F-Score?

Babcock & Wilcox Enterprises, Inc. (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, Inc.'s earnings high quality?

Babcock & Wilcox Enterprises, Inc. (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, Inc. cover its interest payments?

Babcock & Wilcox Enterprises, Inc. (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, Inc.?

Babcock & Wilcox Enterprises, Inc. (BW) scores 20 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.