Babcock & Wilcox Enterprises, Inc. BW
We are a globally-focused energy technologies provider with nearly 160 years of experience providing diversified energy and emissions control solutions to a broad range of industrial, electrical utility, municipal and other customers. We support global energy needs and baseload power demand by providing advanced technologies that utilize coal, natural gas, hydrogen, waste and biomass to produce energy, environmental solutions and carbon capture systems. Our proven platforms help utilities, data centers, oil and gas, and other industries meet rising demand, while our comprehensive aftermarket services keep existing power plants operating efficiently. Our advanced environmental and decarbonization technologies help to reduce greenhouse gases and other emissions and capture carbon. We also are investing in new coal and natural gas technologies to produce steam or hydrogen from solid fuels and simultaneously isolate and capture CO2.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $587.7M | $581.0M | $587.4M | $609.4M | $710.9M | $566.3M | $859.1M | $1.06B | $1.34B | $1.42B |
| Cost of revenue | $443.8M | $454.3M | $466.0M | $464.3M | $535.8M | $400.5M | $698.9M | $1.19B | $1.32B | $1.28B |
| Gross profit | $143.9M | $126.7M | $121.5M | $145.1M | $175.0M | $165.9M | $160.3M | -$129.6M | $24.2M | $138.3M |
| R&D | — | — | — | $3.8M | $1.6M | $4.4M | $2.9M | $3.8M | $7.6M | $8.8M |
| SG&A | $119.5M | $124.5M | $134.9M | $152.7M | $151.8M | $141.7M | $151.1M | $204.7M | $221.1M | $217.1M |
| Total operating expenses | $566.9M | $587.4M | $607.5M | $610.6M | $691.5M | $568.1M | $888.5M | $1.48B | $1.65B | $1.55B |
| Operating income | $20.7M | -$6.3M | -$20.1M | -$1.2M | $19.4M | -$1.7M | -$29.4M | -$426.6M | -$316.4M | -$110.0M |
| Interest expense | $37.5M | $46.1M | $42.6M | $39.8M | $39.5M | $59.8M | $94.9M | $49.6M | $25.9M | $3.7M |
| Pre-tax income | -$24.6M | -$91.5M | -$103.6M | -$5.1M | $27.3M | -$3.9M | -$124.4M | -$555.8M | -$317.6M | -$119.6M |
| Income tax | $8.3M | $12.8M | $5.6M | $9.1M | $2.0M | $8.2M | $5.3M | $102.2M | $63.7M | $2.7M |
| Net income | -$32.8M | -$72.9M | -$75.8M | -$14.2M | $32.0M | -$10.3M | -$122.0M | -$725.3M | -$379.8M | -$115.6M |
| EPS, basic | -0.48 | -0.82 | -2.38 | -0.43 | 0.26 | -0.21 | -3.87 | — | -8.09 | -2.31 |
| EPS, diluted | -0.48 | -0.82 | -2.38 | -0.43 | 0.26 | -0.21 | -3.87 | -52.45 | -8.09 | -2.31 |
| Shares, diluted (wtd. avg.) | $105.4M | $91.7M | $89.0M | $88.3M | $83.6M | $48.7M | $31.5M | — | $46.9M | $50.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $89.5M | $26.9M | $65.3M | $113.5M | $226.7M | $67.4M | $56.9M | $60.3M | $69.7M | $87.4M |
| Short-term investments | $6.5M | — | — | — | — | — | — | — | — | — |
| Receivables | $118.4M | $91.8M | $77.5M | $158.4M | $132.1M | $128.3M | $142.2M | $197.2M | $252.5M | $282.3M |
| Inventory | $60.9M | $58.3M | $97.6M | $102.6M | $79.5M | $74.4M | $63.1M | $61.3M | $72.9M | $85.8M |
| Total current assets | $470.7M | $553.5M | $497.6M | $557.6M | $582.4M | $396.1M | $412.2M | $549.6M | $732.3M | $777.5M |
| Property, plant and equipment | $43.9M | $36.3M | $47.0M | $60.5M | $57.1M | $56.6M | $66.7M | $90.9M | $114.7M | $122.0M |
| Goodwill | $53.1M | $51.4M | $54.3M | $84.2M | $116.5M | $47.4M | $47.2M | $47.1M | $85.7M | $163.1M |
| Other intangibles | $15.3M | $17.6M | $22.1M | $26.3M | $33.2M | $23.9M | $25.3M | $30.8M | $42.1M | $71.0M |
| Total assets | $662.9M | $727.0M | $775.7M | $941.7M | $913.3M | $599.1M | $626.5M | $745.5M | $1.32B | $1.53B |
| Accounts payable | $69.2M | $88.3M | $83.2M | $131.2M | $85.9M | $73.5M | $109.9M | $199.9M | $205.4M | $220.7M |
| Short-term debt | — | — | — | — | — | $0 | $104.0M | $30.6M | — | — |
| Total current liabilities | $386.7M | $406.7M | $350.2M | $371.5M | $253.4M | $270.8M | $602.5M | $712.0M | $744.3M | $617.5M |
| Long-term debt | — | — | — | — | — | $183.3M | — | $30.6M | $0 | — |
| Total liabilities | $794.5M | $1.01B | $976.0M | $943.8M | $854.6M | $930.1M | $921.5M | $1.02B | $1.13B | $968.2M |
| Retained earnings | -$1.70B | -$1.65B | -$1.57B | -$1.36B | -$1.32B | -$1.34B | -$1.34B | -$1.22B | -$492.1M | -$114.7M |
| Total equity | -$131.5M | -$283.8M | -$200.3M | -$2.1M | $58.6M | -$331.0M | -$287.7M | -$270.0M | $190.7M | $561.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$68.9M | -$118.7M | -$42.3M | -$30.6M | -$111.2M | -$40.8M | -$176.3M | -$281.9M | -$189.8M | $2.3M |
| Depreciation and amortisation | $10.1M | $16.7M | $21.0M | $24.0M | $18.3M | $16.8M | $23.6M | $32.0M | $40.1M | $39.6M |
| Capital expenditure | $16.8M | $11.2M | $9.8M | $13.2M | $6.7M | $8.2M | $3.8M | $5.5M | $14.3M | $22.4M |
| Investing cash flow | $197.0M | $110.0M | -$7.9M | -$68.8M | -$33.5M | $2.2M | $8.8M | $179.2M | -$63.9M | -$190.2M |
| Financing cash flow | -$58.7M | $69.7M | $8.6M | -$11.2M | $302.8M | $44.1M | $167.0M | $82.6M | $206.1M | -$83.4M |
| Buybacks | $386.0K | $336.0K | $1.4M | $2.8M | $4.9M | $283.0K | $117.0K | $805.0K | $967.0K | $78.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-042128.
Others in SIC 3433
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BRNX | BRENX LTD. | — | — | — |