BorgWarner (BWA) Financials

$61.28 +3.10 (+5.32%)

Closing price 03:59 PM Eastern

Extended Trading

$61.00 -0.27 (-0.44%)

As of 05:43 PM Eastern

Annual Income Statements for BorgWarner

This table shows BorgWarner's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	577	595	440	931	746	500	537	944	625	338	277
Consolidated Net Income / (Loss)	614	637	483	985	797	567	639	1,026	695	399	335
Net Income / (Loss) Continuing Operations	614	637	483	985	797	567	445	718	702	428	335
Total Pre-Tax Income	875	943	1,063	1,196	1,265	964	510	913	991	539	524
Total Operating Income	888	973	1,072	1,190	1,303	618	914	1,009	1,160	546	536
Total Gross Profit	1,703	1,929	2,115	2,230	2,101	1,910	2,173	2,369	2,568	2,648	2,674
Total Revenue	8,023	9,071	9,799	10,530	10,168	10,165	11,803	12,635	14,198	14,086	14,316
Operating Revenue	8,023	9,071	9,799	10,530	10,168	10,165	11,803	12,635	14,198	14,086	14,316
Total Cost of Revenue	6,320	7,142	7,684	8,300	8,067	8,255	9,630	10,266	11,630	11,438	11,642
Operating Cost of Revenue	6,320	7,142	7,684	8,300	8,067	8,255	9,630	10,266	11,630	11,438	11,642
Total Operating Expenses	815	956	1,043	1,040	798	1,292	1,259	1,360	1,408	2,102	2,138
Selling, General & Admin Expense	662	818	899	946	873	951	1,085	1,290	1,316	1,350	1,304
Other Operating Expenses / (Income)	153	138	144	94	-147	138	66	-8.00	-16	32	109
Impairment Charge	-	-	-	-	-	-	-	30	29	646	624
Restructuring Charge	-	-	-	-	72	203	108	48	79	74	101
Total Other Income / (Expense), net	-13	-31	-9.00	6.00	-38	346	-404	-96	-169	-7.00	-12
Interest Expense	60	85	71	59	43	61	91	0.00	15	13	11
Interest & Investment Income	7.50	49	62	55	32	400	-320	-23	20	7.00	-4.00
Other Income / (Expense), net	40	4.90	-	10	-27	7.00	7.00	-73	-174	-1.00	3.00
Income Tax Expense	262	306	580	211	468	397	65	195	289	111	189
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	194	308	-7.00	-29	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	37	42	43	54	51	67	102	82	70	61	58
Basic Earnings per Share	$2.57	$2.78	$2.09	$4.47	$3.63	$2.35	$2.25	$4.01	$2.68	$1.51	$1.29
Weighted Average Basic Shares Outstanding	224.41M	214.37M	210.40M	208.20M	205.70M	213M	238.10M	235.50M	232.80M	223.50M	214.20M
Diluted Earnings per Share	$2.56	$2.76	$2.08	$4.44	$3.61	$2.34	$2.24	$3.99	$2.67	$1.50	$1.28
Weighted Average Diluted Shares Outstanding	225.65M	215.33M	211.50M	209.50M	206.80M	214M	239.50M	236.80M	234.40M	224.80M	216.40M
Weighted Average Basic & Diluted Shares Outstanding	224.20M	215.50M	210.50M	208.20M	206.41M	239.02M	239.97M	234.13M	229.78M	218.68M	207.05M
Cash Dividends to Common per Share	$0.52	$0.53	$0.59	$0.68	$0.00	$0.68	$0.68	$0.68	$0.56	$0.44	$0.56

This table shows BorgWarner's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	50	154	206	303	234	-405	157	224	158	-262	242
Consolidated Net Income / (Loss)	68	175	221	317	249	-388	171	232	173	-241	255
Net Income / (Loss) Continuing Operations	105	170	228	329	257	-386	171	232	173	-241	255
Total Pre-Tax Income	238	229	290	298	270	-319	232	284	248	-240	328
Total Operating Income	272	281	295	297	270	-316	237	289	248	-238	336
Total Gross Profit	652	659	644	685	636	683	639	640	664	731	677
Total Revenue	3,622	3,522	3,595	3,603	3,449	3,439	3,515	3,638	3,591	3,572	3,533
Operating Revenue	3,622	3,522	3,595	3,603	3,449	3,439	3,515	3,638	3,591	3,572	3,533
Total Cost of Revenue	2,970	2,863	2,951	2,918	2,813	2,756	2,876	2,998	2,927	2,841	2,856
Operating Cost of Revenue	2,970	2,863	2,951	2,918	2,813	2,756	2,876	2,998	2,927	2,841	2,856
Total Operating Expenses	380	378	349	388	366	999	402	351	416	969	341
Selling, General & Admin Expense	330	353	329	341	340	340	315	317	341	331	328
Other Operating Expenses / (Income)	-6.00	-15	1.00	22	5.00	4.00	17	14	52	26	-5.00
Impairment Charge	-	-	0.00	0.00	0.00	-	39	3.00	0.00	582	0.00
Restructuring Charge	56	11	19	25	21	9.00	31	17	23	30	18
Total Other Income / (Expense), net	-34	-52	-5.00	1.00	0.00	-3.00	-5.00	-5.00	0.00	-2.00	-8.00
Interest Expense	3.00	-1.00	3.00	3.00	4.00	1.00	3.00	2.00	3.00	3.00	2.00
Interest & Investment Income	-41	141	0.00	4.00	-2.00	14	-12	-11	-8.00	17	-12
Other Income / (Expense), net	10	-194	-2.00	0.00	6.00	-16	10	8.00	11	-16	6.00
Income Tax Expense	133	59	62	-31	13	67	61	52	75	1.00	73
Net Income / (Loss) Attributable to Noncontrolling Interest	18	21	15	14	15	17	14	8.00	15	21	13
Basic Earnings per Share	$0.21	$0.66	$0.91	$1.34	$1.04	($1.81)	$0.72	$1.04	$0.74	($1.21)	$1.18
Weighted Average Basic Shares Outstanding	233.40M	232.80M	227.70M	226.10M	223.10M	223.50M	217.20M	216.30M	213.70M	214.20M	205.30M
Diluted Earnings per Share	$0.21	$0.66	$0.90	$1.34	$1.04	($1.81)	$0.72	$1.03	$0.73	($1.20)	$1.16
Weighted Average Diluted Shares Outstanding	235.30M	234.40M	228.30M	227.20M	224.50M	224.80M	218.10M	218.20M	216.50M	216.40M	208.30M
Weighted Average Basic & Diluted Shares Outstanding	235.06M	229.78M	227.84M	227.77M	218.70M	218.68M	219.72M	216.39M	213.93M	207.05M	205.11M
Cash Dividends to Common per Share	$0.11	$0.30	$0.11	$0.11	$0.11	$0.33	$0.11	$0.11	$0.17	-	$0.17

This table details how cash moves in and out of BorgWarner's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-220	-134	101	-932	93	818	-1,013	-1,596	-1,201	-800	-1,484
Net Cash From Operating Activities	868	1,036	1,180	1,126	1,008	1,184	0.00	0.00	0.00	0.00	0.00
Net Cash From Continuing Operating Activities	868	1,036	1,180	0.00	0.00	0.00	1,210	1,180	1,397	1,382	1,648
Net Income / (Loss) Continuing Operations	614	637	483	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash From Investing Activities	-1,759	-404	-752	-514	-489	-866	-1,249	-1,320	-593	-603	-368
Net Cash From Continuing Investing Activities	-1,759	-404	-752	-514	-489	-866	-1,249	-1,320	-593	-603	-368
Purchase of Property, Plant & Equipment	-577	-501	-560	-546	-481	-461	-516	-622	-832	-671	-469
Acquisitions	-1,200	0.00	-186	0.00	-10	-449	-759	-312	-109	0.00	0.00
Purchase of Investments	0.00	0.00	-11	-6.00	-53	-2.00	-20	-473	284	-8.00	0.00
Sale of Property, Plant & Equipment	4.70	11	5.00	36	9.00	16	8.00	20	30	4.00	43
Divestitures	0.00	86	0.00	0.00	24	0.00	22	27	9.00	8.00	7.00
Sale and/or Maturity of Investments	13	0.00	-	2.00	22	10	11	40	25	46	18
Other Investing Activities, net	-	-	-	0.00	0.00	20	5.00	0.00	0.00	18	33
Net Cash From Financing Activities	737	-734	-363	-383	-420	437	294	-564	-521	-167	-1,116
Net Cash From Continuing Financing Activities	737	-734	-363	-383	-420	437	294	-564	-521	-167	-1,116
Repayment of Debt	-343	-316	-112	-115	-219	-346	-710	-13	-454	-534	-414
Repurchase of Common Equity	-350	-288	-100	-150	-100	-216	0.00	-240	-177	-402	-508
Payment of Dividends	-140	-143	-154	-177	-164	-179	-267	-298	-261	-211	-168
Issuance of Debt	1,569	4.60	3.00	59	63	1,178	1,286	5.00	18	1,008	0.00
Other Financing Activities, net	0.00	8.90	-	-	-	-	-15	-18	353	-28	-26
Other Net Changes in Cash	-	-	-	-	-	-	-58	288	-87	-30	0.00

This table details how cash moves in and out of BorgWarner's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-134	-317	-497	-76	336	-563	-491	-273	-235	-485	-348
Net Cash From Operating Activities	-	-	0.00	10	-	-	82	-	-	-	152
Net Cash From Continuing Operating Activities	221	887	0.00	462	356	682	0.00	579	368	619	0.00
Net Income / (Loss) Continuing Operations	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Net Cash From Investing Activities	-102	-55	-175	-138	-147	-143	-94	-64	-88	-122	-130
Net Cash From Continuing Investing Activities	-102	-55	-175	-138	-147	-143	-94	-64	-88	-122	-130
Purchase of Property, Plant & Equipment	-185	-208	-190	-165	-155	-161	-119	-77	-111	-162	-143
Sale of Property, Plant & Equipment	15	1.00	0.00	2.00	1.00	1.00	11	5.00	-	27	0.00
Sale and/or Maturity of Investments	12	-	12	24	10	-	12	-4.00	10	-	9.00
Other Investing Activities, net	-	-	-	-	-	-	2.00	5.00	13	13	4.00
Net Cash From Financing Activities	-70	-243	-183	-59	492	-417	-397	-209	-147	-363	-218
Net Cash From Continuing Financing Activities	-70	-243	-183	-59	492	-417	-397	-209	-147	-363	-218
Repayment of Debt	-441	-7.00	-12	-3.00	-169	-350	-351	-57	-3.00	-3.00	-2.00
Repurchase of Common Equity	-	-177	-100	-	-301	-1.00	0.00	-108	-102	-298	-150
Payment of Dividends	-33	-70	-48	-57	-32	-74	-28	-40	-38	-62	-35
Other Financing Activities, net	401	-	-23	-1.00	-4.00	-	-18	-4.00	-4.00	-	-31

This table presents BorgWarner's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	8,826	8,835	9,788	10,095	9,702	16,029	16,575	16,994	14,453	13,993	13,769
Total Current Assets	3,135	2,912	3,543	3,805	3,836	6,167	6,597	6,617	6,217	6,521	6,795
Restricted Cash	-	-	-	-	-	0.00	1,844	1,083	1,534	2,094	2,313
Accounts Receivable	1,665	1,689	2,019	1,988	1,921	2,919	2,898	2,471	3,109	2,843	2,962
Inventories, net	724	641	766	781	807	1,286	1,534	1,217	1,313	1,251	1,207
Prepaid Expenses	169	137	145	250	276	312	321	230	261	333	313
Plant, Property, & Equipment, net	2,448	2,502	2,864	2,904	0.00	0.00	0.00	0.00	3,783	3,575	3,330
Total Noncurrent Assets	3,242	3,421	3,381	3,386	5,866	9,862	9,978	10,377	4,453	3,897	3,644
Long-Term Investments	461	502	547	592	318	820	530	819	364	356	357
Goodwill	1,758	1,702	1,882	1,853	1,842	2,627	3,279	2,978	3,013	2,357	2,055
Intangible Assets	544	464	493	439	402	1,096	1,091	619	564	474	394
Other Noncurrent Operating Assets	480	753	459	502	3,304	5,319	5,078	3,915	512	710	838
Total Liabilities & Shareholders' Equity	8,826	8,835	9,788	10,095	9,702	16,029	16,575	16,994	14,453	13,993	13,769
Total Liabilities	5,194	5,533	5,962	5,750	4,858	9,305	9,313	9,486	8,387	8,287	8,155
Total Current Liabilities	2,357	2,092	2,425	2,399	2,329	3,810	3,798	4,236	3,767	3,646	3,282
Short-Term Debt	441	176	85	173	286	49	66	60	73	398	5.00
Accounts Payable	1,866	1,847	2,270	2,144	1,325	2,352	2,276	2,146	2,546	2,032	1,996
Other Current Liabilities	-	-	-	-	718	1,409	1,456	1,084	1,148	1,216	1,281
Total Noncurrent Liabilities	2,837	3,441	3,537	3,351	2,529	5,495	5,515	5,250	4,620	4,641	4,873
Long-Term Debt	2,109	2,044	2,104	1,941	1,674	3,738	4,261	4,140	3,707	3,763	3,894
Noncurrent Employee Benefit Liabilities	313	294	302	298	306	576	290	129	146	137	128
Other Noncurrent Operating Liabilities	354	276	356	357	549	1,181	964	686	767	741	851
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,632	3,302	3,826	4,345	4,844	6,724	7,262	7,508	6,069	5,709	5,614
Total Preferred & Common Equity	3,554	3,218	3,717	4,226	4,706	6,428	6,948	7,224	5,828	5,532	5,442
Total Common Equity	3,554	3,218	3,717	4,226	4,706	6,425	6,948	7,224	5,828	5,532	5,442
Common Stock	1,112	1,107	1,121	1,149	1,148	2,614	2,640	2,678	2,692	2,677	2,679
Retained Earnings	4,210	4,215	4,531	5,336	5,942	6,296	6,671	7,454	6,152	6,412	6,570
Treasury Stock	-1,158	-1,382	-1,445	-1,585	-1,657	-1,834	-1,812	-2,032	-2,188	-2,537	-3,008
Accumulated Other Comprehensive Income / (Loss)	-610	-722	-490	-674	-727	-651	-551	-876	-828	-1,020	-799
Noncontrolling Interest	78	84	109	119	138	296	314	284	238	174	172

This table presents BorgWarner's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	17,317	14,104	14,453	14,122	14,108	15,137	13,993	13,830	14,399	14,496	13,653
Total Current Assets	6,876	5,900	6,217	5,957	6,004	6,856	6,521	6,379	6,778	6,978	6,742
Cash & Equivalents	-	-	-	-	-	2,000	-	-	-	-	2,110
Accounts Receivable	3,856	3,351	3,109	3,289	3,111	3,215	2,843	3,144	3,198	3,260	3,088
Inventories, net	1,860	1,328	1,313	1,333	1,322	1,366	1,251	1,205	1,216	1,231	1,200
Prepaid Expenses	312	272	261	298	283	275	333	323	323	315	344
Plant, Property, & Equipment, net	0.00	3,569	3,783	3,766	0.00	3,814	3,575	3,552	3,602	3,478	3,259
Total Noncurrent Assets	10,441	4,635	4,453	4,399	8,104	4,467	3,897	3,899	4,019	4,040	3,652
Long-Term Investments	835	624	364	365	342	350	356	355	367	407	343
Goodwill	3,404	2,936	3,013	2,977	2,965	3,027	2,357	2,384	2,467	2,459	2,043
Intangible Assets	1,002	557	564	540	521	514	474	438	430	413	377
Other Noncurrent Operating Assets	5,200	518	512	517	4,276	576	710	722	755	761	889
Total Liabilities & Shareholders' Equity	17,317	14,104	14,453	14,122	14,108	15,137	13,993	13,830	14,399	14,496	13,653
Total Liabilities	9,536	8,097	8,387	8,080	7,823	8,785	8,287	7,940	8,330	8,346	8,011
Total Current Liabilities	4,235	3,573	3,767	3,869	3,712	3,718	3,646	3,230	3,352	3,403	3,165
Short-Term Debt	65	63	73	445	445	398	398	59	6.00	6.00	5.00
Accounts Payable	2,725	2,396	2,546	2,378	2,202	2,176	2,032	2,060	2,093	2,101	2,058
Other Current Liabilities	1,445	1,114	1,148	1,046	1,065	1,144	1,216	1,111	1,253	1,296	1,102
Total Noncurrent Liabilities	5,301	4,524	4,620	4,211	4,111	5,067	4,641	4,710	4,978	4,943	4,846
Long-Term Debt	4,191	3,665	3,707	3,295	3,283	4,195	3,763	3,803	3,901	3,894	3,876
Noncurrent Employee Benefit Liabilities	228	129	146	142	141	146	137	139	148	149	124
Other Noncurrent Operating Liabilities	882	730	767	774	687	726	741	768	929	900	846
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,781	6,007	6,069	6,042	6,285	6,352	5,709	5,890	6,069	6,150	5,642
Total Preferred & Common Equity	7,551	5,768	5,828	5,841	6,093	6,156	5,532	5,720	5,923	5,989	5,479
Total Common Equity	7,551	5,768	5,828	5,841	6,093	6,156	5,532	5,720	5,923	5,989	5,479
Common Stock	2,660	2,683	2,692	2,635	2,648	2,660	2,677	2,624	2,643	2,664	2,628
Retained Earnings	7,796	6,010	6,152	6,325	6,620	6,840	6,412	6,545	6,745	6,867	6,777
Treasury Stock	-2,007	-2,010	-2,188	-2,236	-2,237	-2,536	-2,537	-2,488	-2,597	-2,704	-3,127
Accumulated Other Comprehensive Income / (Loss)	-898	-915	-828	-883	-938	-808	-1,020	-961	-868	-838	-799
Noncontrolling Interest	230	239	238	201	192	196	174	170	146	161	163

This table displays calculated financial ratios and metrics derived from BorgWarner's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.39%	13.06%	8.03%	7.46%	-3.44%	-0.03%	16.11%	7.05%	12.37%	-0.79%	1.63%
EBITDA Growth	-6.93%	9.69%	8.07%	-18.92%	6.33%	-51.02%	47.36%	1.63%	5.34%	-44.73%	-1.10%
EBIT Growth	-8.18%	5.36%	9.60%	11.94%	6.33%	-51.02%	47.36%	1.63%	5.34%	-44.73%	-1.10%
NOPAT Growth	-7.85%	5.51%	-25.90%	101.21%	-16.24%	-55.72%	119.40%	-0.50%	3.56%	-47.24%	-20.96%
Net Income Growth	-10.71%	3.71%	-24.14%	103.93%	-19.09%	-28.86%	12.70%	60.56%	-32.26%	-42.59%	-16.04%
EPS Growth	-10.49%	7.81%	-24.64%	113.46%	-18.69%	-35.18%	12.70%	60.56%	-33.08%	-43.82%	-14.67%
Operating Cash Flow Growth	8.24%	19.33%	13.93%	-4.58%	-10.48%	17.46%	-100.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Growth	-293.62%	277.42%	-85.40%	324.71%	-64.34%	-846.84%	81.39%	796.83%	-90.14%	272.83%	-4.96%
Invested Capital Growth	34.29%	-11.04%	6.74%	4.51%	10.78%	42.22%	14.60%	-19.86%	7.62%	-6.68%	-7.74%
Revenue Q/Q Growth	1.66%	1.52%	3.45%	-0.11%	-0.15%	15.54%	-21.88%	10.07%	14.02%	-0.59%	0.94%
EBITDA Q/Q Growth	-6.24%	9.44%	-3.98%	-23.26%	16.96%	-29.14%	-24.88%	17.88%	-4.55%	-42.57%	14.19%
EBIT Q/Q Growth	-6.35%	11.62%	-5.90%	6.03%	16.96%	-29.14%	-24.88%	17.88%	-4.55%	-42.57%	14.19%
NOPAT Q/Q Growth	-6.03%	15.96%	-40.34%	62.50%	-1.56%	-17.08%	-5.01%	16.39%	10.76%	-58.10%	75.23%
Net Income Q/Q Growth	-6.76%	16.91%	-40.39%	62.89%	-1.36%	35.32%	-26.55%	13.87%	-13.02%	-58.52%	78.19%
EPS Q/Q Growth	-7.91%	16.46%	-42.70%	66.92%	-0.55%	32.95%	-26.55%	13.87%	-14.15%	-62.69%	103.17%
Operating Cash Flow Q/Q Growth	19.58%	4.53%	10.64%	1.25%	-27.69%	19.35%	-100.00%	100.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-270.13%	302.13%	-76.98%	18.55%	-75.16%	-1,419.24%	87.81%	513.33%	-87.62%	60.31%	-30.53%
Invested Capital Q/Q Growth	24.68%	-13.64%	-8.50%	-3.69%	12.12%	50.92%	-0.44%	-22.34%	-2.62%	-13.71%	-8.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.23%	21.26%	21.58%	21.18%	20.66%	18.79%	18.41%	18.75%	18.09%	18.80%	18.68%
EBITDA Margin	15.56%	15.10%	15.10%	11.40%	12.55%	6.15%	7.80%	7.41%	6.94%	3.87%	3.77%
Operating Margin	11.07%	10.73%	10.94%	11.30%	12.81%	6.08%	7.74%	7.99%	8.17%	3.88%	3.74%
EBIT Margin	11.57%	10.78%	10.94%	11.40%	12.55%	6.15%	7.80%	7.41%	6.94%	3.87%	3.77%
Profit (Net Income) Margin	7.65%	7.02%	4.93%	9.35%	7.84%	5.58%	5.41%	8.12%	4.90%	2.83%	2.34%
Tax Burden Percent	70.13%	67.54%	45.44%	82.36%	63.00%	58.82%	125.29%	112.38%	70.13%	74.03%	63.93%
Interest Burden Percent	94.30%	96.38%	99.16%	99.67%	99.14%	154.24%	55.37%	97.54%	100.51%	98.90%	97.22%
Effective Tax Rate	29.87%	32.46%	54.56%	17.64%	37.00%	41.18%	12.75%	21.36%	29.16%	20.59%	36.07%
Return on Invested Capital (ROIC)	13.88%	13.53%	10.30%	19.63%	15.26%	5.31%	9.24%	9.56%	10.72%	5.64%	4.81%
ROIC Less NNEP Spread (ROIC-NNEP)	12.79%	12.05%	9.95%	20.17%	12.21%	24.44%	-0.45%	34.97%	-3.71%	3.72%	4.28%
Return on Net Nonoperating Assets (RNNOA)	2.88%	4.84%	3.25%	4.48%	2.08%	4.49%	-0.11%	4.33%	-0.48%	1.13%	1.11%
Return on Equity (ROE)	16.77%	18.37%	13.55%	24.11%	17.35%	9.80%	9.14%	13.89%	10.24%	6.78%	5.92%
Cash Return on Invested Capital (CROIC)	-15.39%	25.21%	3.78%	15.21%	5.04%	-29.55%	-4.36%	31.61%	3.37%	12.56%	12.86%
Operating Return on Assets (OROA)	11.56%	11.08%	11.51%	12.07%	12.89%	4.86%	5.65%	5.58%	6.27%	3.83%	3.88%
Return on Assets (ROA)	7.65%	7.21%	5.19%	9.91%	8.05%	4.41%	3.92%	6.11%	4.42%	2.81%	2.41%
Return on Common Equity (ROCE)	16.42%	17.94%	13.19%	23.44%	16.86%	9.43%	8.74%	13.33%	9.84%	6.53%	5.73%
Return on Equity Simple (ROE_SIMPLE)	17.28%	19.78%	13.00%	23.31%	16.94%	8.82%	9.20%	14.20%	11.93%	7.21%	0.00%
Net Operating Profit after Tax (NOPAT)	623	657	487	980	821	363	798	793	822	434	343
NOPAT Margin	7.76%	7.25%	4.97%	9.31%	8.07%	3.58%	6.76%	6.28%	5.79%	3.08%	2.39%
Net Nonoperating Expense Percent (NNEP)	1.10%	1.48%	0.35%	-0.54%	3.05%	-19.14%	9.69%	-25.41%	14.43%	1.93%	0.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.78%	8.34%	4.39%	3.60%
Cost of Revenue to Revenue	78.77%	78.74%	78.42%	78.82%	79.34%	81.21%	81.59%	81.25%	81.91%	81.20%	81.32%
SG&A Expenses to Revenue	8.25%	9.02%	9.17%	8.98%	8.59%	9.36%	9.19%	10.21%	9.27%	9.58%	9.11%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.16%	10.53%	10.64%	9.88%	7.85%	12.71%	10.67%	10.76%	9.92%	14.92%	14.93%
Earnings before Interest and Taxes (EBIT)	928	978	1,072	1,200	1,276	625	921	936	986	545	539
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,249	1,370	1,480	1,200	1,276	625	921	936	986	545	539
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.39	2.32	2.61	1.57	1.77	1.40	1.50	1.27	1.43	1.26	1.77
Price to Tangible Book Value (P/TBV)	6.78	7.10	7.24	3.42	3.39	3.32	4.04	2.53	3.69	2.57	3.22
Price to Revenue (P/Rev)	1.06	0.82	0.99	0.63	0.82	0.88	0.88	0.73	0.59	0.49	0.67
Price to Earnings (P/E)	14.71	12.56	22.07	7.11	11.19	17.95	19.40	9.73	13.31	20.57	34.80
Dividend Yield	1.37%	1.51%	1.28%	2.14%	1.68%	1.85%	1.56%	1.73%	1.47%	1.38%	1.24%
Earnings Yield	6.80%	7.96%	4.53%	14.06%	8.94%	5.57%	5.15%	10.28%	7.51%	4.86%	2.87%
Enterprise Value to Invested Capital (EV/IC)	1.96	1.93	2.24	1.47	1.64	1.32	1.38	1.59	1.31	1.19	1.61
Enterprise Value to Revenue (EV/Rev)	1.26	0.97	1.11	0.71	0.91	1.04	1.07	0.93	0.74	0.63	0.77
Enterprise Value to EBITDA (EV/EBITDA)	8.07	6.45	7.38	6.27	7.28	16.94	13.77	12.57	10.59	16.22	20.48
Enterprise Value to EBIT (EV/EBIT)	10.86	9.03	10.18	6.27	7.28	16.94	13.77	12.57	10.59	16.22	20.48
Enterprise Value to NOPAT (EV/NOPAT)	16.18	13.44	22.41	7.68	11.32	29.13	15.91	14.83	12.70	20.38	32.22
Enterprise Value to Operating Cash Flow (EV/OCF)	11.61	8.53	9.25	6.68	9.22	8.94	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	7.21	61.02	9.90	34.31	0.00	0.00	4.48	40.34	9.16	12.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.67	0.57	0.49	0.40	0.56	0.60	0.56	0.62	0.73	0.69
Long-Term Debt to Equity	0.58	0.62	0.55	0.45	0.35	0.56	0.59	0.55	0.61	0.66	0.69
Financial Leverage	0.23	0.40	0.33	0.22	0.17	0.18	0.23	0.12	0.13	0.30	0.26
Leverage Ratio	2.19	2.55	2.61	2.43	2.15	2.22	2.33	2.27	2.32	2.42	2.45
Compound Leverage Factor	2.07	2.46	2.59	2.43	2.14	3.43	1.29	2.22	2.33	2.39	2.38
Debt to Total Capital	41.26%	40.20%	36.39%	32.73%	28.81%	36.03%	37.34%	35.87%	38.38%	42.16%	40.97%
Short-Term Debt to Total Capital	7.14%	3.19%	1.41%	2.68%	4.20%	0.47%	0.57%	0.51%	0.74%	4.03%	0.05%
Long-Term Debt to Total Capital	34.11%	37.01%	34.98%	30.05%	24.60%	35.56%	36.77%	35.36%	37.64%	38.13%	40.92%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.26%	1.51%	1.81%	1.84%	2.03%	2.82%	2.71%	2.43%	2.42%	1.76%	1.81%
Common Equity to Total Capital	57.49%	58.29%	61.80%	65.43%	69.17%	61.13%	59.95%	61.70%	59.17%	56.05%	57.19%
Debt to EBITDA	2.04	1.62	1.48	1.76	1.54	6.06	4.70	4.49	3.83	7.63	7.23
Net Debt to EBITDA	1.21	0.93	0.74	0.65	0.63	2.11	2.12	2.46	1.91	3.14	2.28
Long-Term Debt to EBITDA	1.69	1.49	1.42	1.62	1.31	5.98	4.63	4.42	3.76	6.90	7.22
Debt to NOPAT	4.09	3.38	4.49	2.16	2.39	10.42	5.43	5.29	4.60	9.60	11.38
Net Debt to NOPAT	2.43	1.94	2.25	0.80	0.99	3.62	2.45	2.90	2.29	3.95	3.59
Long-Term Debt to NOPAT	3.39	3.11	4.32	1.98	2.04	10.28	5.34	5.22	4.51	8.68	11.36
Altman Z-Score	3.01	2.98	3.13	3.03	3.56	2.07	2.33	2.29	2.60	2.53	2.85
Noncontrolling Interest Sharing Ratio	2.08%	2.33%	2.70%	2.79%	2.80%	3.78%	4.38%	4.05%	3.87%	3.55%	3.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.33	1.39	1.46	1.59	1.65	1.62	1.74	1.56	1.65	1.79	2.07
Quick Ratio	0.95	1.02	1.06	1.14	1.18	1.20	0.76	0.58	0.83	0.78	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-690	1,225	179	760	271	-2,024	-376	2,623	259	965	917
Operating Cash Flow to CapEx	151.57%	211.37%	212.61%	220.78%	213.56%	266.07%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-11.43	14.48	2.52	12.88	6.30	-33.17	-4.14	0.00	17.25	74.20	83.33
Operating Cash Flow to Interest Expense	14.37	12.24	16.62	19.08	23.44	19.41	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	4.89	6.45	8.80	10.44	12.47	12.11	-5.58	0.00	-53.47	-51.31	-38.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	1.03	1.05	1.06	1.03	0.79	0.72	0.75	0.90	0.99	1.03
Accounts Receivable Turnover	5.16	5.41	5.29	5.26	5.20	4.20	4.06	4.71	5.09	4.73	4.93
Inventory Turnover	10.28	10.47	10.92	10.73	10.16	7.89	6.83	7.46	9.19	8.92	9.47
Fixed Asset Turnover	3.53	3.67	3.65	3.65	0.00	0.00	0.00	0.00	0.00	3.83	4.15
Accounts Payable Turnover	3.72	3.85	3.73	3.76	4.65	4.49	4.16	4.64	4.96	5.00	5.78
Days Sales Outstanding (DSO)	70.71	67.49	69.06	69.45	70.16	86.90	89.94	77.55	71.72	77.11	74.00
Days Inventory Outstanding (DIO)	35.50	34.87	33.43	34.02	35.93	46.27	53.44	48.90	39.70	40.91	38.53
Days Payable Outstanding (DPO)	98.08	94.89	97.80	97.06	78.48	81.29	87.71	78.61	73.63	73.04	63.14
Cash Conversion Cycle (CCC)	8.12	7.47	4.70	6.41	27.61	51.88	55.68	47.84	37.80	44.98	49.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,143	4,576	4,884	5,104	5,654	8,041	9,215	7,385	7,948	7,417	6,843
Invested Capital Turnover	1.79	1.87	2.07	2.11	1.89	1.48	1.37	1.52	1.85	1.83	2.01
Increase / (Decrease) in Invested Capital	1,313	-568	308	220	550	2,387	1,174	-1,830	563	-531	-574
Enterprise Value (EV)	10,078	8,832	10,916	7,524	9,295	10,588	12,686	11,764	10,437	8,837	11,041
Market Capitalization	8,488	7,475	9,712	6,622	8,347	8,975	10,419	9,182	8,317	6,952	9,640
Book Value per Share	$15.85	$15.11	$17.63	$20.29	$22.79	$26.28	$28.98	$30.85	$24.79	$25.29	$25.44
Tangible Book Value per Share	$5.59	$4.94	$6.37	$9.29	$11.92	$11.05	$10.75	$15.49	$9.58	$12.35	$13.99
Total Capital	6,182	5,521	6,014	6,459	6,804	10,511	11,589	11,708	9,849	9,870	9,516
Total Debt	2,550	2,220	2,188	2,114	1,960	3,787	4,327	4,200	3,780	4,161	3,899
Total Long-Term Debt	2,109	2,044	2,104	1,941	1,674	3,738	4,261	4,140	3,707	3,763	3,894
Net Debt	1,512	1,274	1,096	783	810	1,317	1,953	2,298	1,882	1,711	1,229
Capital Expenditures (CapEx)	573	490	555	510	472	445	508	602	802	667	426
Debt-free, Cash-free Net Working Capital (DFCFNWC)	642	552	657	840	961	756	1,021	1,358	989	1,179	1,205
Debt-free Net Working Capital (DFNWC)	1,219	996	1,203	1,579	1,793	2,406	2,865	2,441	2,523	3,273	3,518
Net Working Capital (NWC)	778	820	1,118	1,406	1,507	2,357	2,799	2,381	2,450	2,875	3,513
Net Nonoperating Expense (NNE)	9.05	21	4.09	-4.94	24	-204	159	-233	127	35	7.67
Net Nonoperating Obligations (NNO)	1,512	1,274	1,058	759	810	1,317	1,953	-123	1,879	1,708	1,226
Total Depreciation and Amortization (D&A)	320	391	408	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	8.00%	6.09%	6.71%	7.98%	9.45%	7.44%	8.65%	10.75%	6.97%	8.37%	8.42%
Debt-free Net Working Capital to Revenue	15.20%	10.98%	12.27%	15.00%	17.63%	23.67%	24.27%	19.32%	17.77%	23.24%	24.57%
Net Working Capital to Revenue	9.70%	9.04%	11.41%	13.35%	14.82%	23.19%	23.71%	18.84%	17.26%	20.41%	24.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.20	$2.07	$1.98	$3.53	$2.68	$1.51	$1.29
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	233.68M	241.98M	270.49M	267.54M	232.80M	223.50M	214.20M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.18	$2.06	$1.97	$3.51	$2.67	$1.50	$1.28
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	234.93M	243.11M	272.08M	269.01M	234.40M	224.80M	216.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	234.49M	271.54M	272.62M	265.98M	229.78M	218.68M	207.05M
Normalized Net Operating Profit after Tax (NOPAT)	623	657	750	980	866	483	892	855	898	1,005	806
Normalized NOPAT Margin	7.76%	7.25%	7.66%	9.31%	8.52%	4.75%	7.56%	6.77%	6.33%	7.14%	5.63%
Pre Tax Income Margin	10.91%	10.39%	10.85%	11.36%	12.44%	9.48%	4.32%	7.23%	6.98%	3.83%	3.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.37	11.56	15.10	20.34	29.67	10.25	10.12	0.00	65.73	41.92	49.00
NOPAT to Interest Expense	10.31	7.77	6.86	16.61	19.09	5.96	8.76	0.00	54.78	33.35	31.15
EBIT Less CapEx to Interest Expense	5.89	5.77	7.28	11.69	18.70	2.95	4.54	0.00	12.27	-9.38	10.27
NOPAT Less CapEx to Interest Expense	0.83	1.98	-0.96	7.97	8.11	-1.34	3.18	0.00	1.31	-17.96	-7.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.81%	22.51%	31.88%	17.97%	20.58%	31.57%	41.78%	29.04%	37.55%	52.88%	50.15%
Augmented Payout Ratio	79.79%	67.74%	52.59%	33.20%	33.12%	69.66%	41.78%	52.44%	63.02%	153.63%	201.79%

This table displays calculated financial ratios and metrics derived from BorgWarner's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	207,048,768.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	207,048,768.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.28%	98.31%	6.27%	-1.85%	-4.78%	-2.36%	-2.23%	0.97%	4.12%	3.87%	0.51%
EBITDA Growth	4.44%	42.62%	7.35%	-10.43%	-2.13%	-481.61%	-19.11%	0.00%	-6.16%	20.87%	38.46%
EBIT Growth	4.44%	42.62%	7.35%	-10.43%	-2.13%	-481.61%	-19.11%	0.00%	-6.16%	20.87%	38.46%
NOPAT Growth	-38.68%	22.42%	15.98%	10.48%	114.17%	-206.04%	-24.68%	-28.00%	-32.68%	24.68%	49.54%
Net Income Growth	-76.71%	-37.28%	-3.91%	42.79%	266.18%	-321.71%	-22.62%	-26.81%	-30.52%	37.89%	49.12%
EPS Growth	-81.74%	-38.89%	-3.23%	54.02%	395.24%	-374.24%	-20.00%	-23.13%	-29.81%	33.70%	61.11%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	85.37%
Free Cash Flow Firm Growth	2,617.68%	-117.72%	962.21%	557.77%	-111.99%	187.42%	-55.03%	-54.28%	836.93%	31.50%	1.91%
Invested Capital Growth	-14.17%	7.62%	-16.79%	-19.04%	5.31%	-6.68%	-8.23%	-9.72%	-13.08%	-7.74%	-8.06%
Revenue Q/Q Growth	-1.33%	-2.76%	2.07%	0.22%	-4.27%	-0.29%	2.21%	3.50%	-1.29%	-0.53%	-1.09%
EBITDA Q/Q Growth	-18.26%	-69.15%	243.53%	5.82%	-10.68%	-220.29%	171.39%	25.32%	-12.79%	-198.07%	234.65%
EBIT Q/Q Growth	-18.26%	-69.15%	243.53%	5.82%	-10.68%	-220.29%	171.39%	25.32%	-12.79%	-198.07%	234.65%
NOPAT Q/Q Growth	-59.57%	73.84%	11.18%	41.38%	-21.62%	-186.07%	178.97%	35.15%	-26.72%	-196.30%	256.79%
Net Income Q/Q Growth	-69.37%	157.35%	76.80%	43.44%	-21.45%	-255.82%	144.07%	35.67%	-25.43%	-239.31%	205.81%
EPS Q/Q Growth	-75.86%	214.29%	36.36%	48.89%	-22.39%	-274.04%	139.78%	43.06%	-29.13%	-264.38%	196.67%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	200.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	392.32%	-124.14%	642.59%	19.55%	-107.66%	276.02%	179.11%	21.56%	23.40%	-68.59%	116.30%
Invested Capital Q/Q Growth	-21.17%	-2.62%	5.44%	0.04%	2.53%	-13.71%	3.68%	-1.59%	-1.28%	-8.41%	3.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.00%	18.71%	17.91%	19.01%	18.44%	19.86%	18.18%	17.59%	18.49%	20.46%	19.16%
EBITDA Margin	7.79%	2.47%	8.12%	8.58%	8.00%	-9.65%	6.74%	8.16%	7.21%	-7.11%	9.68%
Operating Margin	7.51%	7.98%	8.21%	8.24%	7.83%	-9.19%	6.74%	7.94%	6.91%	-6.66%	9.51%
EBIT Margin	7.79%	2.47%	8.12%	8.58%	8.00%	-9.65%	6.74%	8.16%	7.21%	-7.11%	9.68%
Profit (Net Income) Margin	1.88%	4.97%	6.15%	8.80%	7.22%	-11.28%	4.86%	6.38%	4.82%	-6.75%	7.22%
Tax Burden Percent	28.57%	76.42%	76.21%	106.38%	92.22%	121.63%	73.71%	81.69%	69.76%	100.42%	77.74%
Interest Burden Percent	84.40%	263.22%	99.32%	96.44%	97.83%	96.08%	97.89%	95.62%	95.75%	94.49%	95.91%
Effective Tax Rate	55.88%	25.76%	21.38%	-10.40%	4.81%	0.00%	26.29%	18.31%	30.24%	0.00%	22.26%
Return on Invested Capital (ROIC)	4.67%	10.97%	10.08%	13.93%	12.60%	-11.79%	8.66%	11.42%	8.51%	-9.36%	14.36%
ROIC Less NNEP Spread (ROIC-NNEP)	2.42%	7.14%	9.61%	13.47%	12.24%	-21.09%	8.48%	11.20%	8.51%	-14.44%	13.98%
Return on Net Nonoperating Assets (RNNOA)	0.86%	0.92%	3.31%	4.47%	4.35%	-6.42%	2.94%	3.26%	2.42%	-3.74%	3.91%
Return on Equity (ROE)	5.53%	11.89%	13.39%	18.40%	16.96%	-18.22%	11.61%	14.69%	10.93%	-13.10%	18.27%
Cash Return on Invested Capital (CROIC)	23.65%	3.37%	27.61%	30.68%	7.18%	12.56%	13.27%	13.75%	16.43%	12.86%	14.22%
Operating Return on Assets (OROA)	6.42%	2.23%	7.49%	7.83%	7.76%	-9.56%	6.76%	8.04%	6.90%	-7.33%	10.10%
Return on Assets (ROA)	1.55%	4.49%	5.67%	8.03%	7.00%	-11.17%	4.88%	6.28%	4.61%	-6.96%	7.53%
Return on Common Equity (ROCE)	5.32%	11.43%	12.96%	17.85%	16.36%	-17.57%	11.24%	14.28%	10.62%	-12.70%	17.74%
Return on Equity Simple (ROE_SIMPLE)	13.85%	0.00%	11.74%	12.82%	15.63%	0.00%	6.10%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	120	209	232	328	257	-221	175	236	173	-167	261
NOPAT Margin	3.31%	5.92%	6.45%	9.10%	7.45%	-6.43%	4.97%	6.49%	4.82%	-4.66%	7.39%
Net Nonoperating Expense Percent (NNEP)	2.25%	3.83%	0.46%	0.47%	0.36%	9.30%	0.18%	0.23%	0.00%	5.07%	0.39%
Return On Investment Capital (ROIC_SIMPLE)	-	2.12%	-	-	-	-2.24%	1.79%	2.37%	1.72%	-1.75%	2.74%
Cost of Revenue to Revenue	82.00%	81.29%	82.09%	80.99%	81.56%	80.14%	81.82%	82.41%	81.51%	79.54%	80.84%
SG&A Expenses to Revenue	9.11%	10.02%	9.15%	9.46%	9.86%	9.89%	8.96%	8.71%	9.50%	9.27%	9.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.49%	10.73%	9.71%	10.77%	10.61%	29.05%	11.44%	9.65%	11.58%	27.13%	9.65%
Earnings before Interest and Taxes (EBIT)	282	87	292	309	276	-332	237	297	259	-254	342
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	282	87	292	309	276	-332	237	297	259	-254	342
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.62	1.43	1.39	1.21	1.34	1.26	1.10	1.24	1.59	1.77	2.05
Price to Tangible Book Value (P/TBV)	4.12	3.69	3.50	2.82	3.16	2.57	2.16	2.43	3.05	3.22	3.67
Price to Revenue (P/Rev)	0.75	0.59	0.56	0.51	0.58	0.49	0.45	0.52	0.67	0.67	0.78
Price to Earnings (P/E)	12.90	13.31	13.26	10.30	9.21	20.57	21.68	35.03	70.99	34.80	31.03
Dividend Yield	1.40%	1.47%	1.38%	1.36%	1.21%	1.38%	1.54%	1.31%	1.14%	1.24%	1.14%
Earnings Yield	7.75%	7.51%	7.54%	9.71%	10.85%	4.86%	4.61%	2.85%	1.41%	2.87%	3.22%
Enterprise Value to Invested Capital (EV/IC)	1.44	1.31	1.27	1.15	1.25	1.19	1.07	1.19	1.47	1.61	1.81
Enterprise Value to Revenue (EV/Rev)	0.94	0.74	0.74	0.67	0.76	0.63	0.59	0.64	0.78	0.77	0.89
Enterprise Value to EBITDA (EV/EBITDA)	11.38	10.59	10.78	10.09	11.28	16.22	16.84	18.41	23.29	20.48	20.23
Enterprise Value to EBIT (EV/EBIT)	11.38	10.59	10.78	10.09	11.28	16.22	16.84	18.41	23.29	20.48	20.23
Enterprise Value to NOPAT (EV/NOPAT)	15.85	12.70	12.47	10.67	10.35	20.38	21.88	31.96	56.22	32.22	29.89
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	183.22
Enterprise Value to Free Cash Flow (EV/FCFF)	5.63	40.34	4.19	3.35	17.79	9.16	7.72	8.21	8.33	12.04	12.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.62	0.62	0.62	0.59	0.72	0.73	0.66	0.64	0.63	0.69	0.69
Long-Term Debt to Equity	0.61	0.61	0.55	0.52	0.66	0.66	0.65	0.64	0.63	0.69	0.69
Financial Leverage	0.35	0.13	0.34	0.33	0.36	0.30	0.35	0.29	0.29	0.26	0.28
Leverage Ratio	2.31	2.32	2.28	2.23	2.37	2.42	2.34	2.31	2.37	2.45	2.38
Compound Leverage Factor	1.95	6.10	2.26	2.15	2.31	2.32	2.29	2.21	2.27	2.32	2.29
Debt to Total Capital	38.29%	38.38%	38.23%	37.23%	41.96%	42.16%	39.60%	39.16%	38.81%	40.97%	40.75%
Short-Term Debt to Total Capital	0.65%	0.74%	4.55%	4.44%	3.64%	4.03%	0.61%	0.06%	0.06%	0.05%	0.05%
Long-Term Debt to Total Capital	37.65%	37.64%	33.68%	32.79%	38.33%	38.13%	39.00%	39.10%	38.75%	40.92%	40.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.46%	2.42%	2.05%	1.92%	1.79%	1.76%	1.74%	1.46%	1.60%	1.81%	1.71%
Common Equity to Total Capital	59.25%	59.17%	59.71%	60.85%	56.24%	56.05%	58.65%	59.37%	59.59%	57.19%	57.53%
Debt to EBITDA	3.61	3.83	3.77	3.90	4.84	7.63	7.90	7.99	8.26	7.23	6.12
Net Debt to EBITDA	2.09	1.91	2.36	2.20	2.36	3.14	3.68	3.07	2.80	2.28	2.25
Long-Term Debt to EBITDA	3.55	3.76	3.32	3.44	4.42	6.90	7.78	7.98	8.25	7.22	6.11
Debt to NOPAT	5.03	4.60	4.37	4.13	4.44	9.60	10.26	13.87	19.94	11.38	9.04
Net Debt to NOPAT	2.90	2.29	2.73	2.32	2.17	3.95	4.78	5.32	6.76	3.59	3.33
Long-Term Debt to NOPAT	4.94	4.51	3.85	3.64	4.05	8.68	10.10	13.85	19.91	11.36	9.03
Altman Z-Score	2.44	2.40	2.50	2.50	2.44	2.32	2.48	2.51	2.68	2.66	2.98
Noncontrolling Interest Sharing Ratio	3.84%	3.87%	3.20%	3.00%	3.52%	3.55%	3.11%	2.74%	2.86%	3.11%	2.89%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.65	1.65	1.54	1.62	1.84	1.79	1.97	2.02	2.05	2.07	2.13
Quick Ratio	0.94	0.83	0.85	0.84	1.40	0.78	0.97	0.95	0.96	0.90	1.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,468	-354	1,923	2,299	-176	310	865	1,051	1,297	407	881
Operating Cash Flow to CapEx	0.00%	0.00%	-5.26%	6.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	106.29%
Free Cash Flow to Firm to Interest Expense	489.33	0.00	384.59	766.30	-44.00	309.80	288.23	525.54	432.33	135.80	440.61
Operating Cash Flow to Interest Expense	0.00	0.00	-2.00	3.33	0.00	0.00	0.00	0.00	0.00	0.00	76.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-40.00	-51.00	0.00	0.00	-36.00	0.00	0.00	0.00	4.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.83	0.90	0.92	0.91	0.97	0.99	1.00	0.99	0.96	1.03	1.04
Accounts Receivable Turnover	3.71	5.09	4.20	4.12	4.32	4.73	4.35	4.45	4.38	4.93	4.60
Inventory Turnover	6.86	9.19	7.52	7.36	8.57	8.92	8.95	9.02	8.90	9.47	9.66
Fixed Asset Turnover	3.29	0.00	3.50	0.00	3.84	3.83	3.83	0.00	3.89	4.15	4.21
Accounts Payable Turnover	4.27	4.96	4.66	4.75	5.05	5.00	5.12	5.33	5.40	5.78	5.64
Days Sales Outstanding (DSO)	98.40	71.72	86.82	88.65	84.57	77.11	83.82	82.00	83.32	74.00	79.35
Days Inventory Outstanding (DIO)	53.20	39.70	48.56	49.63	42.59	40.91	40.76	40.48	41.01	38.53	37.77
Days Payable Outstanding (DPO)	85.45	73.63	78.33	76.84	72.27	73.04	71.28	68.50	67.54	63.14	64.66
Cash Conversion Cycle (CCC)	66.15	37.80	57.04	61.44	54.88	44.98	53.31	53.98	56.79	49.39	52.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,162	7,948	8,380	8,383	8,595	7,417	7,690	7,568	7,471	6,843	7,070
Invested Capital Turnover	1.41	1.85	1.56	1.53	1.69	1.83	1.74	1.76	1.77	2.01	1.94
Increase / (Decrease) in Invested Capital	-1,348	563	-1,691	-1,971	433	-531	-690	-815	-1,124	-574	-620
Enterprise Value (EV)	11,760	10,437	10,680	9,635	10,705	8,837	8,235	9,001	10,995	11,041	12,825
Market Capitalization	9,366	8,317	8,141	7,345	8,266	6,952	6,265	7,356	9,513	9,640	11,234
Book Value per Share	$24.54	$24.79	$25.65	$26.74	$27.03	$25.29	$26.16	$26.96	$27.68	$25.44	$26.46
Tangible Book Value per Share	$9.68	$9.58	$10.21	$11.44	$11.48	$12.35	$13.25	$13.77	$14.40	$13.99	$14.77
Total Capital	9,735	9,849	9,782	10,013	10,945	9,870	9,752	9,976	10,050	9,516	9,523
Total Debt	3,728	3,780	3,740	3,728	4,593	4,161	3,862	3,907	3,900	3,899	3,881
Total Long-Term Debt	3,665	3,707	3,295	3,283	4,195	3,763	3,803	3,901	3,894	3,894	3,876
Net Debt	2,155	1,882	2,338	2,098	2,243	1,711	1,800	1,499	1,321	1,229	1,428
Capital Expenditures (CapEx)	170	207	190	163	154	160	108	72	111	135	143
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,441	989	1,496	1,449	1,536	1,179	1,501	1,391	1,409	1,205	1,472
Debt-free Net Working Capital (DFNWC)	2,390	2,523	2,533	2,737	3,536	3,273	3,208	3,432	3,581	3,518	3,582
Net Working Capital (NWC)	2,327	2,450	2,088	2,292	3,138	2,875	3,149	3,426	3,575	3,513	3,577
Net Nonoperating Expense (NNE)	52	34	11	11	8.00	167	3.69	4.08	0.00	74	6.22
Net Nonoperating Obligations (NNO)	2,155	1,879	2,338	2,098	2,243	1,708	1,800	1,499	1,321	1,226	1,428
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	11.57%	6.97%	10.38%	10.10%	10.84%	8.37%	10.72%	9.91%	9.93%	8.42%	10.27%
Debt-free Net Working Capital to Revenue	19.19%	17.77%	17.58%	19.08%	24.96%	23.24%	22.90%	24.44%	25.25%	24.57%	24.99%
Net Working Capital to Revenue	18.69%	17.26%	14.49%	15.98%	22.15%	20.41%	22.48%	24.40%	25.21%	24.54%	24.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.21	$0.66	$0.91	$1.34	$1.04	($1.81)	$0.72	$1.04	$0.74	($1.21)	$1.18
Adjusted Weighted Average Basic Shares Outstanding	233.40M	232.80M	227.70M	226.10M	223.10M	223.50M	217.20M	216.30M	213.70M	214.20M	205.30M
Adjusted Diluted Earnings per Share	$0.21	$0.66	$0.90	$1.34	$1.04	($1.81)	$0.72	$1.03	$0.73	($1.20)	$1.16
Adjusted Weighted Average Diluted Shares Outstanding	235.30M	234.40M	228.30M	227.20M	224.50M	224.80M	218.10M	218.20M	216.50M	216.40M	208.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.66	$0.00	$0.00	$0.00	($1.81)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	235.06M	229.78M	227.84M	227.77M	218.70M	218.68M	219.72M	216.39M	213.93M	207.05M	205.11M
Normalized Net Operating Profit after Tax (NOPAT)	230	217	247	225	277	-215	226	252	189	262	275
Normalized NOPAT Margin	6.34%	6.15%	6.87%	6.26%	8.03%	-6.25%	6.44%	6.94%	5.26%	7.33%	7.79%
Pre Tax Income Margin	6.57%	6.50%	8.07%	8.27%	7.83%	-9.28%	6.60%	7.81%	6.91%	-6.72%	9.28%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	94.00	0.00	58.40	103.00	69.00	-332.00	79.00	148.50	86.33	-84.67	171.00
NOPAT to Interest Expense	40.00	0.00	46.39	109.30	64.25	-221.20	58.23	118.04	57.67	-55.53	130.61
EBIT Less CapEx to Interest Expense	37.33	0.00	20.40	48.67	30.50	-492.00	43.00	112.50	49.33	-129.67	99.50
NOPAT Less CapEx to Interest Expense	-16.67	0.00	8.39	54.97	25.75	-381.20	22.23	82.04	20.67	-100.53	59.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.04%	37.55%	35.71%	26.63%	21.52%	52.88%	54.73%	65.91%	95.74%	50.15%	41.77%
Augmented Payout Ratio	33.04%	63.02%	76.09%	62.10%	81.60%	153.63%	141.26%	221.21%	207.98%	201.79%	198.81%

Financials Breakdown Chart

Key Financial Trends

Here is a concise four-year view of BorgWarner (BWA), based on the provided quarterly income statements, balance sheets, and cash flow statements. The bullets below highlight the points that may matter most to retail investors.

Cash generation from operations remained solid in recent quarters. In Q4 2025, net cash from continuing operating activities was $619 million, and CFOs were positive across 2022–2025, indicating ongoing cash generation even when net income fluctuates.
Gross margin has improved over the four-year period. Gross margin rose from about 17% in 2022 to around 20% by 2025, driven by better cost control and mix (example: Q4 2025 gross profit of $731M on $3.57B revenue).
Revenue remained broadly stable around the mid $3 billions in 2025. Q4 2025 revenue was about $3.57B, with 2025 quarterly results generally in the $3.5–$3.6B range, suggesting resilient demand.
Operating profitability was strong in most of 2025 before a large impairment in Q4. Q3 2025 operating income was about $248M, with positive pre-tax income in that period; Q4 2025 swung negative due to a $582M impairment charge.
Balance sheet remains solid, with sizable assets and equity. Total assets typically run around $14–15B and total equity around $5.8–6.6B in recent quarters, providing a reasonable cushion relative to liabilities.
Impairment charge in Q4 2025 is a one-off, non-cash event. A $582M impairment reduced reported earnings in that quarter but does not reflect ongoing cash flow generation.
Restructuring charges in 2025 add to non-cash or one-time costs. Q3 2025 restructuring (~$23M) and Q4 2025 restructuring (~$30M) contribute to a hit to reported income without necessarily signaling repeated yearly ongoing charges.
Share repurchases in 2025 reduced cash and affected financing cash flows. Notably, BorgWarner repurchased a substantial amount of common stock in Q4 2025 (~$298M), influencing per-share metrics and cash position.
Net income to common shareholders fluctuated and was negative in some periods. For example, Q4 2024 and Q4 2025 showed negative amounts, while other 2025 quarters posted positive earnings, indicating volatility in quarterly profitability.
Debt load and liabilities remain sizable. Long-term debt sits around $3.9B and total liabilities around $9.0–$9.5B across recent reports, implying leverage that could pressure liquidity if cash generation weakens.

05/08/26 05:51 PM ETAI Generated. May Contain Errors.

BorgWarner Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BorgWarner's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

BorgWarner's net income appears to be on a downward trend, with a most recent value of $335 million in 2025, falling from $613.90 million in 2015. The previous period was $399 million in 2024. See where experts think BorgWarner is headed by visiting BorgWarner's forecast page.

BorgWarner's total operating income in 2025 was $536 million, based on the following breakdown:

Total Gross Profit: $2.67 billion
Total Operating Expenses: $2.14 billion

Over the last 10 years, BorgWarner's total revenue changed from $8.02 billion in 2015 to $14.32 billion in 2025, a change of 78.4%.

BorgWarner's total liabilities were at $8.16 billion at the end of 2025, a 1.6% decrease from 2024, and a 57.0% increase since 2015.

Over the last 10 years, BorgWarner's book value per share changed from 15.85 in 2015 to 25.44 in 2025, a change of 60.4%.

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Financial statements for NYSE:BWA last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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BorgWarner (BWA) Financials

Annual Income Statements for BorgWarner

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Quarterly Cash Flow Statements for BorgWarner

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When does BorgWarner's financial year end?

How has BorgWarner's net income changed over the last 10 years?

What is BorgWarner's operating income?

How has BorgWarner's revenue changed over the last 10 years?

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How has BorgWarner's book value per share changed over the last 10 years?

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