BROADWIND, INC. BWEN

Basic materials SIC 3360 - Nonferrous Foundries (Castings) NAICS Manufacturing › Primary Metal Manufacturing › Foundries › Nonferrous Metal Foundries derived Nasdaq

Broadwind is a precision manufacturer of structures, equipment and components for power generation, critical infrastructure, and other specialized applications. We provide technologically advanced high value products to customers with complex systems and stringent quality standards that operate in energy, mining and infrastructure sectors, primarily in the United States of America (the "U.S."). Our capabilities include but are not limited to the following: heavy fabrications, welding, metal rolling, coatings, gear cutting and shaping, gearbox manufacturing and repair, heat treatment, precision machining, assembly, engineering and packaging solutions.

We were incorporated in 1996 in Nevada as Blackfoot Enterprises, Inc., and through a series of subsequent transactions, became Broadwind Energy, Inc., a Delaware corporation, in 2008. Through acquisitions in 2007 and 2008, we focused on expanding upon our core platform as a wind tower manufacturer, established our Gearing segment, and developed and broadened our industrial fabrications capabilities. In early 2017, we acquired Red Wolf Company, LLC, a kitter and assembler of industrial components primarily supporting the global gas turbine market. In 2020, we rebranded to Broadwind, Inc., a reflection of our diversification progress to date and our continued strategy to expand our product and customer diversification outside of wind energy. Effective with our 2020 rebranding, we renamed certain segments. Our Towers and Heavy Fabrications segment was renamed to Heavy Fabrications and our Process Systems segment was renamed to Industrial Solutions. Our Gearing segment name remained the same.

Last close 2.90 2026-10-23
Market cap $68.6M 2026-06-30 share count
52-week range 1.90 - 5.70

Valuation FY2025 figures against the last close

P/S0.4x
P/E12.6x
P/FCF—
EV/EBITDA5.2x
Dividend yield—
Diluted EPS0.23

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

Revenue by segment

  • Heavy Fabrications
  • Industrial Solutions
  • Gearing
Revenue by segment, 3 categories over 2 years. The same figures are in the table below. FY2025 Heavy Fabrications, FY2025: 101.2M (63.7%) 64% Heavy Fabrications Industrial Solutions, FY2025: 30.3M (19.1%) 19% Industrial Solutions Gearing, FY2025: 27.4M (17.2%) 17% Gearing FY2024 Heavy Fabrications, FY2024: 82.7M (57.3%) 57% Industrial Solutions, FY2024: 26.1M (18.1%) 18% Gearing, FY2024: 35.6M (24.7%) 25%
Segment FY2025FY2024
Heavy Fabrications $101.2M $82.7M
Industrial Solutions $30.3M $26.1M
Gearing $27.4M $35.6M

As the company reported it, from the “Note 2 - Revenues - 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 $158.1M$143.1M$203.5M$176.8M$145.6M$198.5M$178.2M$125.4M$146.8M$180.8M
Cost of revenue ————————$138.6M$162.7M
Gross profit $16.1M$21.2M$32.5M$10.7M$5.5M$18.0M$15.4M$3.1M$8.2M$18.1M
SG&A $15.0M$16.3M$20.7M$16.6M$17.4M$16.8M$16.1M$13.6M$13.8M$15.8M
Total operating expenses $7.5M$17.0M$21.4M$17.3M$18.1M$17.6M$17.8M$28.1M$15.6M$16.2M
Operating income $8.7M$4.2M$11.1M-$6.6M-$12.6M$422.0K-$2.4M-$25.1M-$7.4M$1.9M
Pre-tax income $5.3M$1.2M$7.9M-$9.7M$2.9M-$1.4M-$4.5M-$24.2M-$8.2M$1.3M
Income tax $87.0K$74.0K$241.0K$35.0K$25.0K$48.0K$38.0K$205.0K$5.0M$2.0K
Net income $5.2M$1.2M$7.6M-$9.7M$2.8M-$1.5M-$4.5M-$24.1M-$3.6M$319.0K
EPS, basic 0.230.050.36-0.480.15-0.09-0.28-1.56-0.240.02
EPS, diluted 0.230.050.36-0.480.15-0.09-0.28-1.56-0.240.02
Shares, diluted (wtd. avg.) 23.0M22.0M21.5M20.3M19.4M16.7M16.1M15.5M15.1M15.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $456.0K$7.7M$1.1M$12.7M$852.0K$3.4M$2.4M$1.2M$78.0K$18.7M
Short-term investments ————————$0$3.2M
Receivables $15.8M$13.5M$19.2M$17.0M$13.8M$15.3M$18.3M$17.5M$13.6M$11.9M
Inventory $42.0M$40.0M$37.4M$44.3M$33.4M$26.7M$31.9M$22.7M$19.3M$21.2M
Total current assets $64.3M$66.9M$69.7M$79.3M$52.3M$50.6M$54.7M$43.1M$35.4M$58.2M
Property, plant and equipment $39.5M$45.6M$47.1M$45.3M$43.7M$45.2M$46.9M$49.1M$55.7M$54.6M
Goodwill ——————$16.0M$5.0M$5.0M—
Other intangibles $741.0K$1.4M$2.1M$2.7M$3.5M$4.2M$4.9M$6.6M$16.1M$4.6M
Total assets $116.8M$128.3M$135.2M$144.5M$118.0M$119.7M$122.9M$99.2M$112.3M$117.7M
Accounts payable $17.4M$16.1M$20.7M$26.3M$16.5M$18.2M$21.9M$11.6M$11.8M$15.9M
Short-term debt $5.0M$1.5M$5.9M$1.2M$6.7M$1.4M$12.9M$11.9M$114.0K—
Total current liabilities $31.7M$43.6M$53.6M$70.2M$42.7M$48.0M$64.3M$51.9M$41.0M$43.3M
Long-term debt $5.1M$7.7M$6.2M$7.1M$177.0K$9.4M$505.0K$1.4M$797.0K$2.6M
Retained earnings -$335.1M-$340.3M-$341.5M-$349.1M-$339.4M-$342.3M-$340.8M-$336.3M-$312.1M-$308.5M
Total equity $66.3M$59.4M$56.0M$46.3M$54.1M$40.7M$40.8M$43.4M$66.1M$68.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$15.4M$13.8M-$6.9M$16.6M-$12.8M$5.3M$4.5M$2.0M-$9.3M$17.3M
Depreciation and amortisation $6.3M$6.7M$6.4M$6.1M$6.3M$6.3M$7.5M$9.2M$9.0M$6.9M
Stock-based compensation $638.0K$1.2M$877.0K$944.0K$1.5M$1.3M$958.0K$803.0K$813.0K$753.0K
Capital expenditure $3.6M$3.6M$6.4M$3.1M$1.7M$1.5M$1.8M$2.3M$6.7M$6.6M
Investing cash flow $8.9M-$3.5M-$6.4M-$3.1M-$1.7M-$1.5M-$1.8M-$1.6M-$19.9M-$3.2M
Financing cash flow -$772.0K-$3.7M$1.7M-$1.7M$12.0M-$2.8M-$1.4M$807.0K$10.7M-$3.3M

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 0001437749-26-012220.

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. -100M 0 100M 200M 300M Revenue, FY2016: 180.8M Gross profit, FY2016: 18.1M Net income, FY2016: 319K Revenue, FY2017: 146.8M Gross profit, FY2017: 8.2M Net income, FY2017: -3.6M Revenue, FY2018: 125.4M Gross profit, FY2018: 3.1M Net income, FY2018: -24.1M Revenue, FY2019: 178.2M Gross profit, FY2019: 15.4M Net income, FY2019: -4.5M Revenue, FY2020: 198.5M Gross profit, FY2020: 18M Net income, FY2020: -1.5M Revenue, FY2021: 145.6M Gross profit, FY2021: 5.5M Net income, FY2021: 2.8M Revenue, FY2022: 176.8M Gross profit, FY2022: 10.7M Net income, FY2022: -9.7M Revenue, FY2023: 203.5M Gross profit, FY2023: 32.5M Net income, FY2023: 7.6M Revenue, FY2024: 143.1M Gross profit, FY2024: 21.2M Net income, FY2024: 1.2M Revenue, FY2025: 158.1M Gross profit, FY2025: 16.1M Net income, FY2025: 5.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $180.8M $146.8M $125.4M $178.2M $198.5M $145.6M $176.8M $203.5M $143.1M $158.1M
Gross profit $18.1M $8.2M $3.1M $15.4M $18.0M $5.5M $10.7M $32.5M $21.2M $16.1M
Net income $319.0K -$3.6M -$24.1M -$4.5M -$1.5M $2.8M -$9.7M $7.6M $1.2M $5.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • 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
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Results announced 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
  • 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
  • Regulation FD disclosure Item 7.01

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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