BWX Technologies, Inc. (BWXT) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.04	$1.07	+2.9%	—	$901.6M	—
Q1 26	$0.93	$1.12	+20.4%	—	$860.2M	—
Q4 25	$0.88	$1.08	+22.7%	—	$885.8M	—
Q3 25	$0.87	$1	+14.9%	—	$866.3M	—
Q2 25	$0.79	$1.02	+29.1%	—	$764M	—
Q1 25	$0.76	$0.91	+19.7%	—	$682.3M	—
Q4 24	$0.82	$0.92	+12.2%	—	$746.3M	—
Q3 24	$0.77	$0.83	+7.8%	—	$672M	—
Q2 24	$0.74	$0.82	+10.8%	—	$681.5M	—
Q1 24	$0.69	$0.76	+10.1%	—	$604M	—
Q4 23	$0.93	$1.01	+8.6%	—	$725.5M	—
Q3 23	$0.63	$0.67	+6.3%	—	$590M	—
Q2 23	$0.59	$0.65	+10.2%	—	$612.4M	—
Q1 23	$0.61	$0.7	+14.8%	—	$568.4M	—
Q4 22	$0.93	$0.93	0.0%	—	$624.2M	—
Q3 22	$0.72	$0.69	-4.2%	—	$523.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.59	—	—	$3.2B	—
FY24	—	$3.08	—	—	$2.7B	—
FY23	—	$2.68	—	—	$2.5B	—
FY22	—	$2.6	—	—	$2.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.6B	$1.7B	$1.8B	$1.9B	$2.1B	$2.1B	$2.2B	$2.5B	$2.7B	$3.2B
YoY change	+9.54%	+8.85%	+6.65%	+5.28%	+12.1%	+0.03%	+5.12%	+11.8%	+8.31%	+18.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.6B	1.7B	1.8B	1.9B	2.1B	2.1B	2.2B	2.5B	2.7B	3.2B
Cost of revenue	1.1B	1.2B	1.3B	1.4B	1.5B	1.6B	1.7B	1.9B	2B	2.5B
Gross profit	464.2M	495.8M	504M	533.9M	575.4M	550.3M	551.9M	620.6M	655.2M	732.9M
Gross margin	29.9%	29.4%	28%	28.2%	27.1%	25.9%	24.7%	24.9%	24.2%	22.9%
Research & development	6.4M	7.2M	15.2M	17.7M	14.2M	11.1M	9.5M	7.6M	7.5M	13.9M
Selling, general & administrative	209.5M	210.1M	214.1M	216.8M	231.2M	230.4M	234.3M	279.7M	318.7M	394.4M
Operating expenses	215.9M	217.3M	229.3M	234.4M	245.4M	241.5M	243.8M	287.3M	326.1M	408.3M
Operating income	248.3M	278.4M	274.7M	299.4M	330M	308.8M	308.1M	333.3M	329.1M	324.6M
Operating margin	16%	16.5%	15.3%	15.8%	15.5%	14.5%	13.8%	13.4%	12.2%	10.1%
Non-operating income, net	16.7M	30.8M	30.8M	48.7M	62.6M	122.2M	41.9M	32.8M	56.6M	113.9M
Pretax income	257.3M	295.8M	280.1M	313.7M	362.2M	395.7M	314.4M	321.4M	348.7M	398.1M
Income tax	73.7M	147.4M	52.8M	69.1M	83M	89.4M	75.8M	75.1M	66.4M	68.3M
Net income	183.6M	148.4M	227.3M	244.7M	279.2M	306.3M	238.6M	246.3M	282.3M	329.9M
Net margin	11.8%	8.79%	12.6%	12.9%	13.1%	14.4%	10.7%	9.87%	10.4%	10.3%
EBITDA	346.2M	367M	368.1M	413.6M	452.5M	497M	430.1M	448M	478.4M	546.5M
EPS	1.79	1.49	2.29	2.56	2.92	3.24	2.6	2.68	3.08	3.59
Diluted EPS	1.76	1.47	2.27	2.55	2.91	3.24	2.6	2.68	3.07	3.58

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	590M	725.5M	604M	681.5M	672M	746.3M	682.3M	764M	866.3M	885.8M	860.2M	901.6M
Cost of revenue	436.3M	537M	455.4M	513.2M	508M	571.9M	517.1M	572.6M	677.3M	698.6M	662.8M	699.3M
Gross profit	153.7M	188.5M	148.6M	168.3M	164M	174.4M	165.2M	191.4M	189M	187.3M	197.4M	202.3M
Gross margin	26.1%	26%	24.6%	24.7%	24.4%	23.4%	24.2%	25.1%	21.8%	21.1%	22.9%	22.4%
Research & development	1.2M	1.7M	1.5M	1.3M	2.1M	2.6M	2M	4.6M	3.5M	3.8M	4.1M	4.2M
Selling, general & administrative	79.8M	74.6M	67.4M	79.8M	80.8M	90.7M	87.6M	102.9M	93.4M	110.5M	108M	108.4M
Operating expenses	81M	76.3M	68.9M	81.1M	82.9M	93.3M	89.6M	107.5M	96.9M	114.3M	112.1M	112.6M
Operating income	72.7M	112.3M	79.8M	87.2M	81M	81M	75.6M	83.9M	92.1M	72.9M	85.3M	89.7M
Operating margin	12.3%	15.5%	13.2%	12.8%	12.1%	10.9%	11.1%	11%	10.6%	8.23%	9.91%	9.95%
Non-operating income, net	17M	-15.6M	17.4M	14.6M	18.8M	5.8M	23.5M	25.1M	28.4M	36.9M	21.9M	24.7M
Pretax income	78.2M	85.6M	88.4M	91.6M	90.6M	78.1M	91.8M	97.8M	107.6M	101M	107.3M	113.6M
Income tax	17.8M	19.3M	19.8M	18.6M	21M	7M	16.3M	19.3M	25.4M	7.3M	16.1M	24.5M
Net income	60.4M	66.3M	68.5M	73M	69.6M	71.1M	75.5M	78.5M	82.2M	93.7M	91.2M	89.1M
Net margin	10.2%	9.14%	11.3%	10.7%	10.4%	9.52%	11.1%	10.3%	9.49%	10.6%	10.6%	9.88%
EBITDA	110.1M	118.9M	118.5M	123.9M	121.8M	114.2M	119.3M	136.8M	150M	140.4M	141.2M	150.2M
EPS	0.66	0.72	0.75	0.8	0.76	0.78	0.82	0.86	0.9	1.02	0.99	0.97
Diluted EPS	0.66	0.72	0.75	0.79	0.76	0.77	0.82	0.85	0.89	1.01	0.99	0.97

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.1B	6B	3.8B	5.9B	5.8B	4.5B	5.3B	7B	10.2B	15.8B	12.3B
Enterprise value	4.5B	6.3B	4.5B	6.7B	6.7B	5.7B	6.6B	8.2B	11.2B	17.3B	14.1B
Shares outstanding	102.5M	99.3M	99.1M	95.4M	95.5M	94.3M	91.4M	91.6M	91.6M	91.6M	91.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.2	40.5	16.7	24.2	20.6	14.7	22.3	28.5	36.1	48	35.9
P/S	2.62	3.56	2.1	3.12	2.71	2.13	2.38	2.82	3.77	4.95	3.61
P/B	27	21	16.1	14.7	9.31	7.08	7.1	7.53	9.44	12.8	9.51
EV/EBITDA	12.9	17.2	12.3	16.1	14.7	11.4	15.3	18.2	23.4	31.7	29.6
EV/Sales	2.87	3.74	2.51	3.51	3.14	2.67	2.94	3.27	4.14	5.42	4.01
Earnings yield	4.51%	2.47%	6%	4.13%	4.85%	6.79%	4.49%	3.5%	2.77%	2.08%	2.79%
FCF yield	4.6%	2.08%	1.58%	1.64%	-1.02%	1.66%	0.87%	3.02%	2.5%	1.87%	1.18%
PEG	—	—	—	—	—	—	—	—	—	—	2.8

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	29.9%	29.4%	28%	28.2%	27.1%	25.9%	24.7%	24.9%	24.2%	22.9%	22.4%
Operating margin	16%	16.5%	15.3%	15.8%	15.5%	14.5%	13.8%	13.4%	12.2%	10.1%	10.4%
Net margin	11.8%	8.79%	12.6%	12.9%	13.1%	14.4%	10.7%	9.87%	10.4%	10.3%	10.1%
ROE	122.1%	51.9%	96.4%	60.5%	45.2%	48.1%	31.9%	26.4%	26.1%	26.8%	28.3%
ROA	11.6%	8.66%	13.7%	12.8%	12.2%	12.2%	9.11%	8.97%	9.84%	7.72%	5.53%
ROIC	33.1%	23.7%	23%	20.6%	16.7%	13.4%	11.7%	12.4%	12.9%	9.78%	10.3%
Return on tangible assets	19.8%	14.1%	35%	25.1%	20.8%	19.6%	14.5%	13.8%	14.4%	12.6%	12.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.58	1.65	1.44	1.56	1.46	1.68	2.1	2.18	1.96	2.32	2.4
Quick ratio	1.58	1.65	1.44	1.56	1.46	1.68	2.1	2.18	1.88	2.25	2.33
Debt / equity	3.49	1.78	3.26	2.04	1.54	1.87	1.72	1.3	0.98	1.64	1.51
Debt / assets	0.33	0.3	0.46	0.43	0.41	0.48	0.49	0.44	0.37	0.47	0.46
Net debt / EBITDA	1.11	0.82	1.99	1.77	2	2.32	2.91	2.53	2.05	2.77	2.43
Interest coverage	31.7	20.9	11.1	9.88	12.7	12.1	9.63	7.83	9.83	10	13.5
Effective tax rate	28.6%	49.8%	18.9%	22%	22.9%	22.6%	24.1%	23.4%	19%	17.1%	17.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	15.1	17	18.2	19.9	22.2	22.5	24.4	27.2	29.5	34.9	38.4
EPS (basic)	1.79	1.49	2.29	2.56	2.92	3.24	2.6	2.68	3.08	3.59	3.59
EPS (diluted)	1.76	1.47	2.27	2.55	2.91	3.24	2.6	2.68	3.07	3.58	3.86
Book value per share	1.47	2.88	2.38	4.24	6.47	6.76	8.18	10.2	11.8	13.5	14.6
FCF per share	1.83	1.26	0.61	1.02	-0.61	0.8	0.51	2.32	2.78	3.22	3.44
Cash per share	1.37	2.08	0.34	0.97	0.49	0.4	0.43	0.83	0.81	5.46	6.64
Capex per share	0.51	0.98	1.1	1.91	2.67	3.3	2.17	1.65	1.68	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.39%	5.74%	6.07%	9.61%	12%	14.6%	8.88%	6.06%	5.68%	—	—
Capex / operating cash flow	26.4%	41.5%	83.3%	61.7%	140%	72.9%	91.3%	46.1%	38.4%	—	—
Payout ratio	20.4%	28.3%	28.1%	26.7%	26.1%	26%	34%	34.5%	31.3%	28%	26.9%
Dividend yield	0.92%	0.7%	1.69%	1.1%	1.27%	1.76%	1.53%	1.21%	0.87%	0.58%	0.8%

Yield

0.8%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.27

ex-dividend Aug 18, 2026

Payout ratio

27%

of earnings

Dividend growth

10 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 18, 2026	$0.27
May 19, 2026	$0.27
Mar 11, 2026	$0.27
Nov 19, 2025	$0.25
Aug 18, 2025	$0.25
May 19, 2025	$0.25
Mar 11, 2025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$590M	$725.5M	$604M	$681.5M	$672M	$746.3M	$682.3M	$764M	$866.3M	$885.8M	$860.2M	$901.6M
YoY change	+12.7%	+16.2%	+6.26%	+11.3%	+13.9%	+2.86%	+13%	+12.1%	+28.9%	+18.7%	+26.1%	+18%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	140.2M	206.3M	33.5M	92.4M	46.3M	37.7M	39M	75.8M	74.1M	499.8M
Receivables	161.2M	208.6M	142.8M	116.8M	230.8M	138.8M	136.2M	141.7M	186M	334.6M
Inventory	—	—	—	—	—	—	—	—	40.3M	46.5M
Total current assets	693.6M	873.1M	542.4M	629.8M	773.6M	773.7M	771.6M	817.8M	930M	1.6B
Property, plant & equipment	142.8M	180.7M	233.7M	358.8M	548.7M	723.8M	768.9M	847.4M	861M	1.1B
Goodwill & intangibles	651.1M	657.5M	1B	933.8M	952.9M	942.1M	973.6M	965.1M	905.4M	1.7B
Total assets	1.6B	1.7B	1.7B	1.9B	2.3B	2.5B	2.6B	2.7B	2.9B	4.3B
Accounts payable	100M	93.4M	114.8M	170.7M	184.4M	189.8M	127.1M	126.7M	158.1M	141.3M
Short-term debt	27.4M	27.9M	14.2M	14.7M	88.7M	—	6.3M	6.3M	12.5M	—
Total current liabilities	439.9M	528.1M	377.3M	404.7M	529.7M	459.6M	367.9M	375M	474.2M	672M
Long-term debt	497.7M	481.1M	753.6M	809.4M	862.7M	1.2B	1.3B	1.2B	1B	2B
Total liabilities	1.4B	1.4B	1.4B	1.5B	1.7B	1.9B	1.9B	1.8B	1.8B	3B
Shareholders' equity	150.4M	285.8M	235.7M	404.1M	617.8M	637.2M	748.4M	933.3M	1.1B	1.2B
Total debt	525.1M	508.9M	767.8M	824.2M	951.4M	1.2B	1.3B	1.2B	1.1B	2B
Net debt	399.5M	305.5M	738M	737.6M	908.8M	1.2B	1.3B	1.1B	981.4M	1.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	50.2M	75.8M	45.9M	48.3M	35.5M	74.1M	55.4M	37M	79.6M	499.8M	512.4M	608.2M
Receivables	199.8M	141.7M	179.4M	161.4M	198.5M	186M	177.8M	189.5M	249.1M	334.6M	262.8M	260.6M
Inventory	31.6M	—	41.4M	32.3M	37.5M	40.3M	49.6M	51.6M	57.8M	46.5M	45.6M	46.3M
Total current assets	877.9M	817.8M	864.7M	909.8M	982.9M	930M	975.8M	996.9M	1.1B	1.6B	1.6B	1.7B
Property, plant & equipment	808.6M	847.4M	822.4M	832.2M	864M	861M	875.1M	1B	1B	1.1B	1.1B	1B
Goodwill & intangibles	957.2M	965.1M	948.8M	938.6M	940.7M	905.4M	1.1B	1.7B	1.7B	1.7B	1.6B	1.6B
Total assets	2.8B	2.7B	2.8B	2.8B	2.9B	2.9B	3.1B	3.7B	3.8B	4.3B	4.3B	4.4B
Accounts payable	151.4M	126.7M	147.8M	164.3M	172.2M	158.1M	161.6M	191.5M	211.7M	141.3M	216.2M	212.9M
Short-term debt	6.3M	6.3M	7.8M	9.4M	10.9M	12.5M	12.5M	12.5M	12.5M	—	—	—
Total current liabilities	351.2M	375M	386.8M	408.6M	437.5M	474.2M	483.9M	590.2M	646.6M	672M	674.2M	713.3M
Long-term debt	1.3B	1.2B	1.2B	1.2B	1.2B	1B	1.2B	1.5B	1.5B	2B	2B	2B
Total liabilities	1.9B	1.8B	1.8B	1.8B	1.9B	1.8B	2B	2.5B	2.5B	3B	3B	3.1B
Shareholders' equity	871.9M	933.3M	946.1M	998.3M	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.3B	1.3B
Total debt	1.3B	1.2B	1.2B	1.2B	1.2B	1.1B	1.2B	1.5B	1.5B	2B	2B	2B
Net debt	1.3B	1.1B	1.2B	1.2B	1.2B	981.4M	1.1B	1.5B	1.4B	1.5B	1.5B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	183.6M	148.4M	227.3M	244.7M	279.2M	306.3M	238.6M	246.3M	282.3M	329.9M
Depreciation & amortization	50.6M	56.6M	60.1M	61.7M	60.7M	69.1M	73.8M	78.6M	85.9M	109.2M
Stock-based compensation	15.4M	15.2M	11.9M	12.7M	16.8M	18.6M	14.1M	15.9M	21.7M	26.1M
Change in working capital	-29.3M	-80.2M	-183.2M	-28.6M	-181.6M	-12.8M	-122.6M	-6.9M	-10M	-36.5M
Operating cash flow	199.4M	233.2M	131.2M	295.3M	182.2M	426.9M	217.2M	328.2M	399.6M	479.8M
Capital expenditure	-52.6M	-96.9M	-109.3M	-182.1M	-255M	-311.1M	-198.3M	-151.3M	-153.6M	—
Investing cash flow	-188.9M	-89.7M	-326.7M	-180M	-265.3M	-304.7M	-256.2M	-155.6M	-154.6M	-557.6M
Dividends paid	-37.4M	-42M	-63.8M	-65.4M	-72.9M	-79.7M	-81.1M	-85M	-88.3M	-92.5M
Share repurchases	-293M	0	-214.8M	-20M	-22M	-225.8M	-20M	0	-20M	-30M
Financing cash flow	-107.2M	-78.3M	-12.9M	-48.2M	22.2M	-90.1M	14M	-169.4M	-252.8M	693.6M
Net change in cash	-96.7M	65.3M	-208.4M	67.1M	-60.9M	32.1M	-25M	3.2M	-7.7M	615.9M
Free cash flow	187.3M	125.1M	60M	97.2M	-58.6M	75M	46.4M	212.4M	254.8M	295.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	60.4M	66.3M	68.5M	73M	69.6M	71.1M	75.5M	78.5M	82.2M	93.7M	91.2M	89.1M
Depreciation & amortization	19.8M	20.4M	20.6M	21.6M	21.3M	22.4M	23.9M	27.3M	28.5M	29.6M	29M	31.4M
Stock-based compensation	3.6M	3.6M	4.3M	6M	4.6M	6.8M	5M	8.7M	7M	5.4M	10.2M	9.9M
Change in working capital	-6.7M	83.4M	-56.9M	-36.2M	-51.3M	134.5M	-60.3M	46.6M	15.7M	-38.4M	-45.2M	47.1M
Operating cash flow	71.3M	178.8M	36.6M	64.3M	32.8M	246.1M	43.1M	159M	143.2M	127M	92.6M	156.4M
Capital expenditure	-30.9M	-50.8M	-30.4M	-30.4M	-40.3M	-52.5M	-33.4M	—	—	—	—	—
Investing cash flow	-39.1M	-50.7M	-30.3M	-30.3M	-40.3M	-53.4M	-156.3M	-440.4M	3.9M	2M	-4.4M	3.9M
Dividends paid	-21.1M	-21.1M	-22.4M	-22M	-22M	-22M	-23.7M	-23.1M	-22.9M	-22.8M	-25.8M	-24.7M
Share repurchases	0	0	-20M	0	0	0	-30M	0	0	0	0	0
Financing cash flow	-18.9M	-147.2M	-32.2M	-32.8M	-4.9M	-182.9M	84.8M	301M	-46.2M	354M	-34.2M	-22.8M
Net change in cash	13.3M	-19M	-25.9M	1.1M	-12.4M	9.8M	-28.4M	19.7M	100.8M	483M	54M	137.5M
Free cash flow	43.4M	171M	2.6M	35.5M	-7.7M	224.4M	17.3M	126.3M	94.9M	56.8M	50.1M	115M

BWX Technologies, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history