BORGWARNER INC BWA

Consumer discretionary SIC 3714 - Motor Vehicle Parts & Accessories NAICS Manufacturing › Transportation Equipment Manufacturing › Motor Vehicle Parts Manufacturing derived NYSE

BorgWarner Inc. (collectively with its consolidated subsidiaries, the "Company" or "BorgWarner") is a Delaware corporation incorporated in 1987. The Company is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. BorgWarner's products help improve vehicle performance, propulsion efficiency, stability and air quality. The Company manufactures and sells these products worldwide, primarily to original equipment manufacturers ("OEMs") of light vehicles (passenger cars, sport-utility vehicles, vans and light trucks). The Company's products are also sold to OEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway vehicles (agricultural and construction machinery and marine applications). The Company also manufactures and sells its products to certain tier one vehicle systems suppliers and into the aftermarket for light, commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in Europe, the Americas and Asia and is an original equipment supplier to nearly every major automotive OEM in the world.

Last close 54.96 2026-10-23
Market cap $11.19B 2026-06-30 share count
52-week range 40.73 - 78.82

Valuation FY2025 figures against the last close

P/S0.8x
P/E42.9x
P/FCF9.5x
EV/EBITDA10.2x
Dividend yield1.1%
Diluted EPS1.28

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Turbos & Thermal Technologies
  • Drivetrain & Morse Systems
  • PowerDrive Systems
  • Battery & Charging Systems
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Turbos & Thermal Technologies, FY2025: 5.8B (40.3%) 40% Turbos & Thermal Technologies Drivetrain & Morse Systems, FY2025: 5.6B (39.4%) 39% Drivetrain & Morse Systems PowerDrive Systems, FY2025: 2.3B (16.2%) 16% PowerDrive Systems Battery & Charging Systems, FY2025: 590M (4.1%) 4% FY2024 Turbos & Thermal Technologies, FY2024: 5.9B (41.8%) 42% Drivetrain & Morse Systems, FY2024: 5.6B (39.5%) 40% PowerDrive Systems, FY2024: 1.9B (13.5%) 14% Battery & Charging Systems, FY2024: 729M (5.2%) 5% FY2023 Turbos & Thermal Technologies, FY2023: 6B (42.3%) 42% Drivetrain & Morse Systems, FY2023: 5.5B (39.0%) 39% PowerDrive Systems, FY2023: 2.1B (14.8%) 15% Battery & Charging Systems, FY2023: 546M (3.8%) 4%
Segment FY2025FY2024FY2023
Turbos & Thermal Technologies $5.77B $5.88B $6.01B
Drivetrain & Morse Systems $5.63B $5.56B $5.54B
PowerDrive Systems $2.32B $1.91B $2.10B
Battery & Charging Systems $590.0M $729.0M $546.0M

As the company reported it, from the “REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $14.32B$14.09B$14.20B$12.63B$11.80B$10.16B$10.17B$10.53B$9.80B$9.07B
Cost of revenue $11.64B$11.44B$11.63B$10.27B$9.63B$8.26B$8.07B$8.30B$7.68B$7.14B
Gross profit $2.67B$2.65B$2.57B$2.37B$2.17B$1.91B$2.10B$2.23B$2.12B$1.93B
R&D $710.0M$736.0M$717.0M$701.0M$586.0M$476.0M$413.0M$440.0M$408.0M$343.2M
SG&A $1.30B$1.35B$1.32B$1.29B$1.08B$951.0M$873.0M$946.0M$899.0M$818.0M
Operating income $536.0M$546.0M$1.16B$1.01B$914.0M$618.0M$1.30B$1.19B$1.07B$973.2M
Interest expense $39.0M$20.0M$10.0M$51.0M$91.0M$61.0M$43.0M———
Pre-tax income $524.0M$539.0M$991.0M$913.0M$510.0M$964.0M$1.26B$1.20B$1.06B$942.7M
Income tax $189.0M$111.0M$289.0M$195.0M$65.0M$397.0M$468.0M$211.0M$580.0M$306.0M
Net income $277.0M$338.0M$625.0M$944.0M$537.0M$500.0M$746.0M$931.0M$440.0M$595.0M
EPS, basic 1.291.512.684.012.252.353.634.472.092.78
EPS, diluted 1.281.502.673.992.242.343.614.442.082.76
Shares, diluted (wtd. avg.) 216.4M224.8M234.4M236.8M239.5M214.0M206.8M209.5M211.5M215.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.31B$2.09B$1.53B$1.34B$1.84B$1.65B$832.0M$739.0M$545.0M$444.0M
Receivables $2.96B$2.84B$3.11B$2.47B$2.90B$2.92B$1.92B$1.99B$2.02B$1.69B
Inventory $1.21B$1.25B$1.31B$1.22B$1.53B$1.29B$807.0M$781.0M$766.3M$641.2M
Total current assets $6.79B$6.52B$6.22B$6.62B$6.60B$6.17B$3.84B$3.81B$3.54B$2.91B
Property, plant and equipment ——————$2.92B$2.90B$2.86B$2.50B
Goodwill $2.06B$2.36B$3.01B$2.98B$2.85B$2.63B$1.84B$1.85B$1.88B$1.70B
Other intangibles $394.0M$474.0M$564.0M$619.0M$1.09B$1.10B$402.0M$439.0M$492.7M$463.5M
Total assets $13.77B$13.99B$14.45B$16.99B$16.57B$16.03B$9.70B$10.10B$9.79B$8.83B
Accounts payable ———$2.68B$2.28B—$1.32B$1.49B$1.55B$1.26B
Short-term debt $2.0M$337.0M$3.0M$2.0M$4.0M$4.0M$252.0M$140.0M$15.8M$19.4M
Total current liabilities $3.28B$3.65B$3.77B$4.24B$3.80B$3.81B$2.33B$2.40B$2.43B$2.09B
Long-term debt $3.89B$3.76B$3.71B$4.14B$4.26B$3.74B$1.67B$1.94B$2.10B$2.04B
Total liabilities $8.15B$8.29B$8.39B$9.49B$9.31B$9.30B————
Retained earnings $6.57B$6.41B$6.15B$7.45B$6.67B$6.30B$5.94B$5.34B$4.53B$4.22B
Total equity $5.44B$5.53B$5.83B$7.22B$6.95B$6.43B$4.71B$4.23B$3.72B$3.22B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.65B$1.38B$1.40B$1.18B$1.21B$1.18B$1.01B$1.13B$1.18B$1.04B
Depreciation and amortisation $719.0M$673.0M$582.0M$552.0M$574.0M$568.0M$439.0M$431.0M$408.0M$391.4M
Stock-based compensation $66.0M$62.0M$58.0M$64.0M$50.0M$41.0M$42.0M$53.0M$52.0M$43.6M
Capital expenditure $469.0M$671.0M$832.0M$622.0M$514.0M$441.0M$481.0M$546.0M$560.0M$500.6M
Investing cash flow -$368.0M-$603.0M-$593.0M-$1.32B-$1.25B-$866.0M-$489.0M-$514.0M-$752.0M-$404.2M
Financing cash flow -$1.12B-$167.0M-$521.0M-$564.0M$294.0M$437.0M-$420.0M-$383.0M-$363.0M-$733.8M
Dividends paid $119.0M$98.0M$130.0M$161.0M$162.0M$146.0M$140.0M$142.0M$124.0M$113.4M
Buybacks $508.0M$402.0M$177.0M$240.0M$0$216.0M$100.0M$150.0M$100.0M$288.0M

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 0000908255-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 9.1B Gross profit, FY2016: 1.9B Net income, FY2016: 595M Revenue, FY2017: 9.8B Gross profit, FY2017: 2.1B Net income, FY2017: 440M Revenue, FY2018: 10.5B Gross profit, FY2018: 2.2B Net income, FY2018: 931M Revenue, FY2019: 10.2B Gross profit, FY2019: 2.1B Net income, FY2019: 746M Revenue, FY2020: 10.2B Gross profit, FY2020: 1.9B Net income, FY2020: 500M Revenue, FY2021: 11.8B Gross profit, FY2021: 2.2B Net income, FY2021: 537M Revenue, FY2022: 12.6B Gross profit, FY2022: 2.4B Net income, FY2022: 944M Revenue, FY2023: 14.2B Gross profit, FY2023: 2.6B Net income, FY2023: 625M Revenue, FY2024: 14.1B Gross profit, FY2024: 2.6B Net income, FY2024: 338M Revenue, FY2025: 14.3B Gross profit, FY2025: 2.7B Net income, FY2025: 277M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $9.07B $9.80B $10.53B $10.17B $10.16B $11.80B $12.63B $14.20B $14.09B $14.32B
Gross profit $1.93B $2.12B $2.23B $2.10B $1.91B $2.17B $2.37B $2.57B $2.65B $2.67B
Net income $595.0M $440.0M $931.0M $746.0M $500.0M $537.0M $944.0M $625.0M $338.0M $277.0M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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