BWX Technologies (BWXT) Financials

$203.50 +0.59 (+0.29%)

As of 11:52 AM Eastern

Annual Income Statements for BWX Technologies

This table shows BWX Technologies' 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	131	183	148	227	244	279	306	238	246	282	329
Consolidated Net Income / (Loss)	131	184	148	227	245	279	306	239	246	282	330
Net Income / (Loss) Continuing Operations	141	184	148	227	245	279	306	239	246	282	330
Total Pre-Tax Income	221	257	296	280	314	362	396	314	321	349	398
Total Operating Income	188	249	296	275	319	366	346	349	332	325	330
Total Gross Profit	388	464	496	504	534	575	550	552	621	655	733
Total Revenue	1,416	1,551	1,688	1,800	1,895	2,124	2,124	2,233	2,496	2,704	3,198
Operating Revenue	1,416	1,551	1,688	1,800	1,895	2,124	2,124	2,233	2,496	2,704	3,198
Total Cost of Revenue	1,027	1,086	1,192	1,296	1,361	1,548	1,574	1,681	1,876	2,048	2,466
Operating Cost of Revenue	1,027	1,086	1,192	1,296	1,361	1,548	1,574	1,681	1,876	2,048	2,466
Total Operating Expenses	201	215	200	229	215	210	238	248	288	331	403
Selling, General & Admin Expense	208	210	210	214	217	231	230	234	280	319	394
Research & Development Expense	37	6.41	7.19	15	18	14	11	9.54	7.61	7.48	14
Impairment Charge	-	-	-	-	-	-	-	-	1.03	4.39	-4.97
Total Other Income / (Expense), net	34	8.33	0.14	5.00	-5.45	-3.34	83	13	-11	24	69
Interest Expense	10	8.39	15	28	35	31	36	-	47	39	44
Interest & Investment Income	44	17	15	33	30	28	34	47	53	58	79
Other Income / (Expense), net	-	-	-	-	-	-	85	-34	-17	5.03	34
Income Tax Expense	80	74	147	53	69	83	89	76	75	66	68
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.02	0.56	0.52	0.35	0.56	0.53	0.42	0.43	0.47	0.36	0.92
Basic Earnings per Share	$1.23	$1.79	$1.49	$2.29	$2.56	$2.92	$3.24	$2.60	$2.68	$3.08	$3.59
Weighted Average Basic Shares Outstanding	106.70M	102.47M	99.33M	99.06M	95.38M	95.46M	94.28M	91.45M	91.62M	91.57M	91.57M
Diluted Earnings per Share	$1.22	$1.76	$1.47	$2.27	$2.55	$2.91	$3.24	$2.60	$2.68	$3.07	$3.58
Weighted Average Diluted Shares Outstanding	107.58M	103.84M	100.37M	100.02M	95.81M	95.73M	94.52M	91.70M	91.87M	91.86M	91.86M
Weighted Average Basic & Diluted Shares Outstanding	106.90M	102.30M	99.20M	99.10M	95.08M	94.99M	91.40M	91.28M	91.31M	91.48M	91.45M
Cash Dividends to Common per Share	$0.32	$0.36	$0.42	$0.64	$0.68	$0.76	$0.84	$0.88	$0.92	$0.96	$0.96

This table shows BWX Technologies' 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	60	66	68	73	69	71	75	78	82	93	91
Consolidated Net Income / (Loss)	60	66	69	73	70	71	76	78	82	94	91
Net Income / (Loss) Continuing Operations	60	66	69	73	70	71	76	78	82	94	91
Total Pre-Tax Income	78	86	88	92	91	78	92	98	108	101	107
Total Operating Income	77	90	80	99	81	70	80	84	92	71	85
Total Gross Profit	154	189	149	168	164	174	165	191	189	187	197
Total Revenue	590	726	604	681	672	746	682	764	866	886	860
Operating Revenue	590	726	604	681	672	746	682	764	866	886	860
Total Cost of Revenue	436	537	455	513	508	572	517	573	677	699	663
Operating Cost of Revenue	436	537	455	513	508	572	517	573	677	699	663
Total Operating Expenses	77	99	69	81	83	93	85	108	97	116	112
Selling, General & Admin Expense	80	75	67	80	81	91	88	103	93	111	108
Research & Development Expense	1.16	1.66	1.49	1.27	2.08	2.64	2.01	4.57	3.48	3.81	4.10
Impairment Charge	0.00	-	0.00	-0.00	0.00	-	-4.43	0.01	0.00	-0.56	0.13
Total Other Income / (Expense), net	1.12	-4.31	8.62	4.41	9.58	-3.59	12	14	15	30	22
Interest Expense	12	12	9.60	11	9.91	9.29	7.99	12	14	10	4.73
Interest & Investment Income	13	13	14	12	16	16	17	19	22	20	26
Other Income / (Expense), net	-	-	4.17	2.97	3.29	-	2.46	6.53	7.22	-	0.44
Income Tax Expense	18	19	20	19	21	7.01	16	19	25	7.29	16
Net Income / (Loss) Attributable to Noncontrolling Interest	0.08	0.42	0.07	0.07	0.16	0.06	0.06	0.07	0.09	0.69	0.12
Basic Earnings per Share	$0.66	$0.71	$0.75	$0.80	$0.76	$0.77	$0.82	$0.86	$0.90	$1.01	$0.99
Weighted Average Basic Shares Outstanding	91.66M	91.62M	91.56M	91.56M	91.57M	91.57M	91.59M	91.54M	91.57M	91.57M	91.66M
Diluted Earnings per Share	$0.66	$0.71	$0.75	$0.79	$0.76	$0.77	$0.82	$0.85	$0.89	$1.02	$0.99
Weighted Average Diluted Shares Outstanding	91.90M	91.87M	91.86M	91.80M	91.89M	91.86M	91.87M	91.70M	91.79M	91.86M	91.91M
Weighted Average Basic & Diluted Shares Outstanding	91.51M	91.31M	91.41M	91.42M	91.44M	91.48M	91.36M	91.40M	91.43M	91.45M	91.61M
Cash Dividends to Common per Share	$0.23	-	$0.24	$0.24	$0.24	-	$0.25	$0.25	$0.25	-	$0.27

This table details how cash moves in and out of BWX Technologies' 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	-158	-38	79	-177	56	-44	-8.52	1.22	41	-1.04	427
Net Cash From Operating Activities	335	240	222	169	279	196	386	245	364	408	480
Net Cash From Continuing Operating Activities	335	240	222	169	279	196	386	245	364	408	480
Net Income / (Loss) Continuing Operations	131	184	148	227	245	279	306	239	246	282	330
Consolidated Net Income / (Loss)	131	184	148	227	245	279	306	239	246	282	330
Depreciation Expense	79	51	57	60	62	61	69	74	79	86	109
Non-Cash Adjustments To Reconcile Net Income	116	24	31	38	11	24	-20	66	62	30	34
Changes in Operating Assets and Liabilities, net	8.76	-18	-13	-156	-38	-168	27	-134	-23	11	6.50
Net Cash From Investing Activities	-72	-189	-90	-327	-180	-265	-305	-256	-156	-155	-742
Net Cash From Continuing Investing Activities	-72	-189	-90	-327	-180	-265	-305	-256	-156	-155	-742
Purchase of Property, Plant & Equipment	-69	-62	-97	-109	-182	-255	-311	-198	-151	-154	-185
Acquisitions	0.00	-118	-0.72	-213	0.00	-16	0.00	-47	0.00	0.00	-535
Purchase of Investments	-13	-19	-3.24	-14	-4.21	-4.23	-4.74	-3.80	-2.34	0.00	0.00
Sale and/or Maturity of Investments	6.46	9.26	13	3.93	5.87	6.45	5.55	-7.64	6.00	-0.20	-26
Other Investing Activities, net	3.60	0.04	-1.70	5.25	0.46	3.40	5.59	0.84	-8.01	-0.72	3.87
Net Cash From Financing Activities	-414	-89	-61	-9.32	-44	25	-90	14	-169	-253	694
Net Cash From Continuing Financing Activities	-414	-89	-61	-9.32	-44	25	-90	14	-169	-253	694
Repayment of Debt	-183	-307	-138	-886	46	-799	-1,013	-881	-434	-612	-1,325
Repurchase of Common Equity	-70	-293	0.00	-215	-20	-22	-226	-20	0.00	-20	-30
Payment of Dividends	-34	-37	-42	-64	-65	-73	-80	-81	-85	-88	-92
Issuance of Debt	177	540	109	1,159	-	845	1,324	978	353	456	2,280
Other Financing Activities, net	-305	9.07	9.07	-3.22	-4.74	75	-96	17	-3.90	12	-139
Effect of Exchange Rate Changes	-7.09	-0.35	7.44	-9.98	0.33	-0.27	0.24	-1.21	1.94	-2.13	-4.75
Cash Interest Paid	6.65	6.51	14	17	40	38	51	51	63	72	65
Cash Income Taxes Paid	118	66	38	59	70	74	45	72	84	46	48

This table details how cash moves in and out of BWX Technologies' 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	17	25	-30	2.61	-13	39	-19	-18	43	420	13
Net Cash From Operating Activities	74	222	33	66	33	277	51	159	143	127	93
Net Cash From Continuing Operating Activities	74	222	33	66	33	277	51	159	143	127	93
Net Income / (Loss) Continuing Operations	60	66	69	73	70	71	76	78	82	94	91
Consolidated Net Income / (Loss)	60	66	69	73	70	71	76	78	82	94	91
Depreciation Expense	20	20	21	22	21	22	24	27	28	30	29
Non-Cash Adjustments To Reconcile Net Income	3.73	52	2.73	5.91	-1.07	22	3.19	5.05	4.76	21	8.01
Changes in Operating Assets and Liabilities, net	-9.53	83	-59	-35	-57	161	-52	48	28	-18	-36
Net Cash From Investing Activities	-39	-51	-30	-30	-40	-54	-156	-473	-44	-68	-47
Net Cash From Continuing Investing Activities	-39	-51	-30	-30	-40	-54	-156	-473	-44	-68	-47
Purchase of Property, Plant & Equipment	-31	-51	-30	-30	-40	-53	-33	-33	-48	-70	-43
Acquisitions	-	-	0.00	-	-	-	-103	-435	2.18	0.85	0.00
Sale and/or Maturity of Investments	-	-	0.00	-	-	-0.20	-25	-5.06	2.01	1.32	-4.84
Other Investing Activities, net	-8.16	0.13	0.10	0.10	-	-0.92	4.91	-0.50	-0.34	-0.19	0.41
Net Cash From Financing Activities	-19	-147	-32	-33	-4.89	-183	85	301	-46	354	-34
Net Cash From Continuing Financing Activities	-19	-147	-32	-33	-4.89	-183	85	301	-46	354	-34
Repayment of Debt	-117	-153	-102	-137	-136	-236	-62	-223	-135	-905	2.56
Repurchase of Common Equity	-	-	-20	-	-	-	-30	-	-	-	0.00
Payment of Dividends	-21	-21	-22	-22	-22	-22	-24	-23	-23	-23	-26
Issuance of Debt	121	21	121	121	155	59	205	554	113	1,408	0.00
Other Financing Activities, net	-2.07	5.63	-8.24	5.85	-1.89	16	-4.45	-6.78	-1.39	-127	-11
Effect of Exchange Rate Changes	0.22	1.52	-0.17	-0.14	-0.07	-1.75	2.29	-4.77	-9.71	7.44	1.67
Cash Interest Paid	10	18	15	17	16	24	5.33	25	12	23	0.38
Cash Income Taxes Paid	12	25	2.16	43	-1.84	1.96	10	1.84	16	20	1.93

This table presents BWX Technologies' 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	1,375	1,580	1,712	1,655	1,909	2,294	2,501	2,619	2,747	2,870	4,271
Total Current Assets	647	694	873	542	630	774	774	772	818	930	1,560
Cash & Equivalents	155	126	203	30	87	43	34	35	76	74	500
Restricted Cash	15	6.13	7.11	3.83	3.06	3.07	2.90	2.93	2.86	2.79	3.09
Accounts Receivable	442	518	629	85	70	176	87	88	87	152	288
Inventories, net	-	-	-	-	-	-	-	-	-	40	47
Other Current Assets	32	29	30	420	464	549	646	642	653	661	723
Plant, Property, & Equipment, net	269	300	349	439	580	816	1,046	1,135	1,229	1,278	1,585
Total Noncurrent Assets	459	587	491	673	699	703	682	712	701	662	1,126
Long-Term Investments	38	52	53	71	78	81	95	108	98	110	158
Goodwill	168	211	218	274	276	284	286	293	297	287	501
Intangible Assets	58	115	110	229	191	193	186	194	186	165	330
Noncurrent Deferred & Refundable Income Taxes	181	194	87	64	59	49	21	21	16	6.57	12
Other Noncurrent Operating Assets	13	15	23	36	96	96	95	97	104	92	125
Total Liabilities & Shareholders' Equity	1,375	1,580	1,712	1,655	1,909	2,294	2,501	2,619	2,747	2,870	4,271
Total Liabilities	1,096	1,429	1,427	1,419	1,505	1,676	1,864	1,871	1,814	1,790	3,038
Total Current Liabilities	354	440	528	377	405	530	460	368	375	474	672
Accounts Payable	74	100	93	115	171	184	190	127	127	158	141
Accrued Expenses	58	84	78	73	61	83	86	85	70	65	108
Current Deferred Revenue	139	147	246	-	75	84	112	89	107	161	305
Current Employee Benefit Liabilities	68	82	82	77	83	90	72	61	65	77	118
Total Noncurrent Liabilities	742	990	898	1,042	1,100	1,146	1,405	1,503	1,439	1,315	2,366
Long-Term Debt	278	498	481	754	809	863	1,189	1,283	1,203	1,043	2,016
Asset Retirement Reserve & Litigation Obligation	60	82	80	86	80	84	93	91	91	94	100
Noncurrent Employee Benefit Liabilities	379	376	318	193	196	171	84	76	101	99	157
Other Noncurrent Operating Liabilities	25	34	20	9.35	15	29	39	53	43	79	94
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	280	150	286	236	404	618	637	748	933	1,080	1,233
Total Preferred & Common Equity	266	150	285	236	404	618	637	748	933	1,081	1,232
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	266	150	285	236	404	618	637	748	933	1,081	1,232
Common Stock	24	23	100	117	135	155	176	191	208	230	161
Retained Earnings	739	885	991	1,167	1,344	1,550	1,776	1,933	2,094	2,287	2,524
Treasury Stock	-498	-762	-815	-1,038	-1,068	-1,095	-1,326	-1,353	-1,361	-1,388	-1,433
Accumulated Other Comprehensive Income / (Loss)	0.75	3.81	9.45	-10	-7.45	8.20	12	-22	-7.46	-48	-19
Noncontrolling Interest	14	0.39	0.36	0.04	0.01	0.00	0.06	0.05	-0.05	-0.28	0.53

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,672	2,719	2,741	2,777	2,788	2,841	2,947	3,054	3,699	3,782	4,325
Total Current Assets	850	852	839	878	865	910	983	976	997	1,104	1,616
Cash & Equivalents	51	42	34	50	46	48	36	55	37	80	512
Restricted Cash	2.91	2.96	2.99	3.02	2.89	2.93	2.96	2.81	3.05	3.06	3.20
Accounts Receivable	107	89	95	122	98	107	106	132	173	211	252
Inventories, net	-	-	-	-	-	-	-	50	52	58	46
Other Current Assets	685	713	708	703	718	752	838	735	732	753	803
Plant, Property, & Equipment, net	1,083	1,152	1,183	1,186	1,231	1,242	1,275	1,298	1,538	1,536	1,596
Total Noncurrent Assets	739	715	718	713	692	689	689	780	1,164	1,141	1,112
Long-Term Investments	115	114	113	114	101	102	109	133	183	184	166
Goodwill	290	294	297	294	294	293	295	349	513	502	496
Intangible Assets	193	191	191	185	180	176	175	188	325	330	321
Noncurrent Deferred & Refundable Income Taxes	20	21	20	18	15	13	12	4.73	4.73	3.38	3.38
Other Noncurrent Operating Assets	120	94	96	102	102	105	98	106	139	122	126
Total Liabilities & Shareholders' Equity	2,672	2,719	2,741	2,777	2,788	2,841	2,947	3,054	3,699	3,782	4,325
Total Liabilities	1,959	1,931	1,899	1,905	1,842	1,842	1,889	1,954	2,515	2,540	3,045
Total Current Liabilities	407	349	348	351	387	409	437	484	590	647	674
Accounts Payable	147	138	144	151	148	164	172	162	192	212	216
Accrued Expenses	87	75	61	63	79	63	81	72	105	120	114
Current Deferred Revenue	99	90	88	72	112	125	120	194	198	211	272
Current Employee Benefit Liabilities	75	41	49	58	40	47	53	43	83	91	73
Total Noncurrent Liabilities	1,552	1,582	1,551	1,554	1,455	1,434	1,451	1,470	1,925	1,893	2,370
Long-Term Debt	1,341	1,362	1,331	1,334	1,221	1,203	1,221	1,185	1,520	1,497	2,018
Asset Retirement Reserve & Litigation Obligation	94	93	95	96	92	91	93	96	97	98	102
Noncurrent Employee Benefit Liabilities	70	74	72	69	98	95	92	95	186	177	153
Other Noncurrent Operating Liabilities	48	54	54	54	45	45	46	93	123	121	98
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	713	788	842	872	946	998	1,059	1,100	1,184	1,241	1,280
Total Preferred & Common Equity	713	788	842	872	946	998	1,059	1,100	1,184	1,242	1,280
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	713	788	842	872	946	998	1,059	1,100	1,184	1,242	1,280
Common Stock	188	195	199	204	212	218	223	236	244	253	174
Retained Earnings	1,910	1,973	2,010	2,049	2,140	2,191	2,238	2,340	2,395	2,454	2,590
Treasury Stock	-1,353	-1,360	-1,360	-1,361	-1,388	-1,388	-1,388	-1,432	-1,432	-1,433	-1,452
Accumulated Other Comprehensive Income / (Loss)	-32	-19	-7.72	-20	-19	-23	-15	-43	-23	-33	-31
Noncontrolling Interest	0.22	-0.12	-0.13	-0.13	-0.16	-0.24	-0.08	-0.26	-0.26	-0.26	-0.19

This table displays calculated financial ratios and metrics derived from BWX Technologies' 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	-2.42%	9.54%	8.85%	6.65%	5.28%	12.06%	0.03%	5.12%	11.80%	8.31%	18.30%
EBITDA Growth	138.24%	12.53%	17.60%	-4.81%	13.62%	12.06%	18.15%	-23.03%	1.45%	5.52%	13.75%
EBIT Growth	3,070.76%	32.76%	18.76%	-6.93%	16.01%	14.51%	17.93%	-27.07%	0.28%	4.58%	10.26%
NOPAT Growth	2,029.40%	48.92%	-16.53%	50.54%	11.50%	13.19%	-5.00%	-1.16%	-8.67%	10.47%	3.89%
Net Income Growth	512.60%	39.69%	-19.20%	53.21%	7.64%	14.11%	9.70%	-22.09%	3.23%	14.61%	16.85%
EPS Growth	351.85%	44.26%	-16.48%	54.42%	12.33%	14.12%	11.34%	-19.75%	3.08%	14.55%	16.61%
Operating Cash Flow Growth	315.45%	-28.42%	-7.48%	-23.73%	65.02%	-29.68%	96.51%	-36.61%	48.63%	12.30%	17.49%
Free Cash Flow Firm Growth	67.67%	-72.70%	57.71%	-247.67%	162.12%	-114.71%	-461.34%	193.54%	136.25%	75.06%	-230.57%
Invested Capital Growth	-22.67%	32.17%	10.75%	69.31%	17.87%	27.95%	25.27%	11.58%	4.20%	-0.88%	32.78%
Revenue Q/Q Growth	24.13%	2.64%	1.58%	2.73%	1.24%	2.69%	1.68%	1.46%	4.23%	0.77%	4.56%
EBITDA Q/Q Growth	33.23%	14.67%	4.09%	-6.29%	14.23%	4.39%	22.85%	-5.88%	6.24%	-4.10%	9.76%
EBIT Q/Q Growth	117.17%	18.28%	4.55%	-8.17%	17.76%	5.10%	26.54%	-7.28%	7.43%	-5.67%	10.62%
NOPAT Q/Q Growth	129.19%	22.65%	-25.08%	19.85%	19.27%	4.10%	3.51%	1.05%	8.01%	-1.98%	1.47%
Net Income Q/Q Growth	366.72%	23.12%	-25.10%	19.83%	19.24%	1.61%	19.94%	-23.64%	10.44%	1.72%	7.36%
EPS Q/Q Growth	351.85%	23.94%	-25.00%	20.11%	19.16%	1.75%	21.35%	-23.30%	9.84%	1.99%	7.51%
Operating Cash Flow Q/Q Growth	-17.19%	27.09%	-24.05%	146.46%	3.96%	-41.62%	40.92%	-17.74%	45.71%	15.60%	-23.80%
Free Cash Flow Firm Q/Q Growth	-65.79%	-55.81%	26.73%	47.07%	-19.79%	-119.08%	11.68%	59.93%	177.58%	62.21%	-401.60%
Invested Capital Q/Q Growth	-17.13%	8.11%	-6.09%	-12.22%	-5.59%	2.29%	1.78%	0.35%	-3.88%	-9.04%	4.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.42%	29.94%	29.37%	28.00%	28.17%	27.10%	25.91%	24.72%	24.86%	24.23%	22.91%
EBITDA Margin	18.80%	19.32%	20.87%	18.63%	20.10%	20.10%	23.74%	17.39%	15.78%	15.37%	14.78%
Operating Margin	13.25%	16.05%	17.52%	15.29%	16.84%	17.21%	16.28%	15.61%	12.63%	12.20%	10.30%
EBIT Margin	13.25%	16.05%	17.52%	15.29%	16.84%	17.21%	20.29%	14.08%	12.63%	12.20%	11.37%
Profit (Net Income) Margin	9.29%	11.84%	8.79%	12.63%	12.91%	13.15%	14.42%	10.69%	9.87%	10.44%	10.31%
Tax Burden Percent	59.46%	71.37%	50.16%	81.14%	77.99%	77.09%	77.40%	75.90%	76.64%	80.95%	82.85%
Interest Burden Percent	117.89%	103.35%	100.05%	101.82%	98.29%	99.09%	91.80%	100.00%	101.94%	105.77%	109.52%
Effective Tax Rate	36.38%	28.63%	49.84%	18.86%	22.01%	22.91%	22.60%	24.10%	23.36%	19.05%	17.15%
Return on Invested Capital (ROIC)	28.81%	42.38%	29.48%	31.36%	25.53%	23.43%	17.61%	14.79%	12.54%	13.63%	12.04%
ROIC Less NNEP Spread (ROIC-NNEP)	23.60%	45.29%	29.51%	32.26%	24.88%	23.06%	21.93%	12.42%	12.97%	15.25%	17.15%
Return on Net Nonoperating Assets (RNNOA)	-8.49%	43.02%	38.55%	55.82%	50.96%	31.21%	31.21%	19.65%	16.75%	14.40%	16.48%
Return on Equity (ROE)	20.32%	85.39%	68.03%	87.18%	76.48%	54.64%	48.81%	34.44%	29.30%	28.04%	28.52%
Cash Return on Invested Capital (CROIC)	54.38%	14.67%	19.28%	-20.11%	9.12%	-1.09%	-4.83%	3.84%	8.43%	14.52%	-16.12%
Operating Return on Assets (OROA)	8.86%	16.85%	17.96%	16.34%	17.91%	17.40%	17.98%	12.28%	11.75%	11.74%	10.18%
Return on Assets (ROA)	6.21%	12.43%	9.01%	13.50%	13.73%	13.29%	12.78%	9.32%	9.18%	10.05%	9.24%
Return on Common Equity (ROCE)	19.86%	82.55%	67.91%	87.11%	76.48%	54.64%	48.81%	34.44%	29.30%	28.04%	28.51%
Return on Equity Simple (ROE_SIMPLE)	49.47%	122.39%	51.99%	96.45%	60.55%	45.19%	48.07%	31.89%	26.39%	26.12%	0.00%
Net Operating Profit after Tax (NOPAT)	119	178	148	223	249	282	268	265	242	267	273
NOPAT Margin	8.43%	11.46%	8.79%	12.40%	13.14%	13.27%	12.60%	11.85%	9.68%	9.87%	8.54%
Net Nonoperating Expense Percent (NNEP)	5.21%	-2.91%	-0.02%	-0.90%	0.65%	0.37%	-4.32%	2.37%	-0.43%	-1.62%	-5.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	12.99%	11.28%	12.50%	8.40%
Cost of Revenue to Revenue	72.58%	70.06%	70.63%	72.00%	71.83%	72.90%	74.09%	75.28%	75.14%	75.77%	77.09%
SG&A Expenses to Revenue	14.68%	13.51%	12.45%	11.89%	11.44%	10.89%	10.85%	10.49%	11.20%	11.79%	12.33%
R&D to Revenue	2.58%	0.41%	0.43%	0.85%	0.93%	0.67%	0.52%	0.43%	0.31%	0.28%	0.43%
Operating Expenses to Revenue	14.17%	13.88%	11.86%	12.72%	11.33%	9.88%	11.20%	11.10%	12.23%	12.04%	12.61%
Earnings before Interest and Taxes (EBIT)	188	249	296	275	319	366	431	314	315	330	364
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	266	299	352	335	381	427	504	388	394	416	473
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.44	23.83	19.27	14.81	13.71	8.83	6.68	6.92	7.45	9.43	12.82
Price to Tangible Book Value (P/TBV)	78.02	0.00	0.00	0.00	0.00	38.62	25.61	19.81	15.43	16.22	39.33
Price to Revenue (P/Rev)	2.15	2.31	3.26	1.94	2.92	2.57	2.00	2.32	2.79	3.77	4.94
Price to Earnings (P/E)	23.12	19.53	37.20	15.38	22.69	19.58	13.91	21.75	28.30	36.13	48.04
Dividend Yield	30.95%	1.00%	0.76%	1.81%	1.17%	1.33%	1.82%	1.55%	1.21%	0.86%	0.58%
Earnings Yield	4.33%	5.12%	2.69%	6.50%	4.41%	5.11%	7.19%	4.60%	3.53%	2.77%	2.08%
Enterprise Value to Invested Capital (EV/IC)	8.68	8.17	10.86	4.64	5.87	4.58	3.14	3.35	4.06	5.67	6.63
Enterprise Value to Revenue (EV/Rev)	2.21	2.52	3.40	2.31	3.27	2.91	2.50	2.83	3.20	4.09	5.36
Enterprise Value to EBITDA (EV/EBITDA)	11.78	13.03	16.31	12.38	16.25	14.50	10.53	16.28	20.29	26.60	36.30
Enterprise Value to EBIT (EV/EBIT)	16.72	15.67	19.43	15.08	19.39	16.93	12.32	20.10	25.34	33.53	47.20
Enterprise Value to NOPAT (EV/NOPAT)	26.27	21.96	38.73	18.59	24.86	21.96	19.83	23.88	33.07	41.42	62.84
Enterprise Value to Operating Cash Flow (EV/OCF)	9.35	16.27	25.87	24.51	22.16	31.50	13.75	25.82	21.97	27.07	35.76
Enterprise Value to Free Cash Flow (EV/FCFF)	13.92	63.46	59.23	0.00	69.58	0.00	0.00	91.96	49.22	38.90	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.05	3.49	1.78	3.26	2.04	1.40	1.87	1.72	1.30	0.98	1.64
Long-Term Debt to Equity	1.00	3.31	1.68	3.20	2.00	1.40	1.87	1.71	1.29	0.97	1.64
Financial Leverage	-0.36	0.95	1.31	1.73	2.05	1.35	1.42	1.58	1.29	0.94	0.96
Leverage Ratio	3.27	6.87	7.55	6.46	5.57	4.11	3.82	3.70	3.19	2.79	3.09
Compound Leverage Factor	3.86	7.10	7.55	6.58	5.48	4.07	3.51	3.70	3.25	2.95	3.38
Debt to Total Capital	51.19%	77.73%	64.04%	76.51%	67.10%	58.27%	65.11%	63.27%	56.45%	49.42%	62.05%
Short-Term Debt to Total Capital	2.62%	4.05%	3.51%	1.42%	1.20%	0.00%	0.00%	0.31%	0.29%	0.59%	0.00%
Long-Term Debt to Total Capital	48.57%	73.68%	60.53%	75.10%	65.90%	58.27%	65.11%	62.96%	56.16%	48.83%	62.05%
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	2.43%	0.06%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	0.02%
Common Equity to Total Capital	46.38%	22.21%	35.91%	23.48%	32.90%	41.73%	34.88%	36.73%	43.55%	50.60%	37.93%
Debt to EBITDA	1.10	1.75	1.45	2.29	2.16	2.02	2.36	3.32	3.07	2.54	4.26
Net Debt to EBITDA	0.31	1.09	0.69	1.97	1.71	1.72	2.09	2.93	2.62	2.09	2.87
Long-Term Debt to EBITDA	1.05	1.66	1.37	2.25	2.13	2.02	2.36	3.30	3.06	2.51	4.26
Debt to NOPAT	2.46	2.96	3.43	3.44	3.31	3.06	4.44	4.87	5.01	3.95	7.38
Net Debt to NOPAT	0.68	1.84	1.64	2.95	2.62	2.60	3.94	4.30	4.28	3.25	4.96
Long-Term Debt to NOPAT	2.33	2.80	3.24	3.38	3.25	3.06	4.44	4.85	4.98	3.91	7.38
Altman Z-Score	4.15	3.98	4.92	4.22	4.88	4.48	3.93	4.13	4.85	6.04	5.23
Noncontrolling Interest Sharing Ratio	2.27%	3.33%	0.17%	0.08%	0.01%	0.00%	0.00%	0.01%	0.00%	-0.02%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.83	1.58	1.65	1.44	1.56	1.46	1.68	2.10	2.18	1.96	2.32
Quick Ratio	1.70	1.50	1.58	0.31	0.40	0.42	0.27	0.34	0.43	0.48	1.17
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	225	61	97	-143	89	-13	-73	69	162	284	-366
Operating Cash Flow to CapEx	489.48%	388.21%	229.11%	154.83%	153.39%	77.03%	124.10%	123.39%	240.41%	265.82%	260.00%
Free Cash Flow to Firm to Interest Expense	22.12	7.33	6.52	-5.15	2.52	-0.42	-2.05	0.00	3.45	7.20	-8.27
Operating Cash Flow to Interest Expense	32.92	28.58	14.92	6.08	7.91	6.33	10.80	0.00	7.73	10.35	10.85
Operating Cash Flow Less CapEx to Interest Expense	26.19	21.22	8.41	2.15	2.75	-1.89	2.10	0.00	4.52	6.45	6.68
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	1.05	1.03	1.07	1.06	1.01	0.89	0.87	0.93	0.96	0.90
Accounts Receivable Turnover	3.13	3.23	2.94	5.04	24.44	17.28	16.16	25.52	28.66	22.64	14.52
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	56.79
Fixed Asset Turnover	4.91	5.45	5.21	4.57	3.72	3.04	2.28	2.05	2.11	2.16	2.23
Accounts Payable Turnover	12.60	12.48	12.33	12.45	9.54	8.72	8.41	10.61	14.78	14.39	16.47
Days Sales Outstanding (DSO)	116.47	112.93	124.05	72.41	14.94	21.12	22.59	14.30	12.74	16.12	25.14
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.43
Days Payable Outstanding (DPO)	28.97	29.25	29.61	29.32	38.27	41.86	43.40	34.41	24.69	25.37	22.16
Cash Conversion Cycle (CCC)	87.50	83.68	94.44	43.10	-23.34	-20.74	-20.81	-20.11	-11.96	-9.25	9.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	361	477	529	895	1,055	1,350	1,691	1,887	1,966	1,949	2,588
Invested Capital Turnover	3.42	3.70	3.36	2.53	1.94	1.77	1.40	1.25	1.30	1.38	1.41
Increase / (Decrease) in Invested Capital	-106	116	51	366	160	295	341	196	79	-17	639
Enterprise Value (EV)	3,135	3,902	5,743	4,150	6,190	6,189	5,308	6,319	7,990	11,054	17,157
Market Capitalization	3,039	3,575	5,500	3,490	5,539	5,457	4,255	5,180	6,957	10,186	15,802
Book Value per Share	$2.50	$1.51	$2.87	$2.39	$4.24	$6.48	$6.91	$8.20	$10.20	$11.82	$13.48
Tangible Book Value per Share	$0.37	($1.77)	($0.44)	($2.71)	($0.66)	$1.48	$1.80	$2.87	$4.93	$6.87	$4.39
Total Capital	573	676	795	1,004	1,228	1,480	1,827	2,037	2,143	2,136	3,249
Total Debt	293	525	509	768	824	863	1,189	1,289	1,210	1,055	2,016
Total Long-Term Debt	278	498	481	754	809	863	1,189	1,283	1,203	1,043	2,016
Net Debt	82	327	243	659	651	732	1,054	1,139	1,033	869	1,355
Capital Expenditures (CapEx)	68	62	97	109	182	255	311	198	151	154	185
Debt-free, Cash-free Net Working Capital (DFCFNWC)	135	135	159	142	144	194	274	368	370	391	385
Debt-free Net Working Capital (DFNWC)	309	281	373	179	240	244	314	410	449	468	888
Net Working Capital (NWC)	294	254	345	165	225	244	314	404	443	456	888
Net Nonoperating Expense (NNE)	-12	-5.94	-0.07	-4.06	4.25	2.58	-39	26	-4.70	-15	-57
Net Nonoperating Obligations (NNO)	82	327	243	659	651	732	1,054	1,139	1,033	869	1,355
Total Depreciation and Amortization (D&A)	79	51	57	60	62	61	73	74	79	86	109
Debt-free, Cash-free Net Working Capital to Revenue	9.53%	8.69%	9.44%	7.89%	7.62%	9.16%	12.88%	16.48%	14.84%	14.48%	12.05%
Debt-free Net Working Capital to Revenue	21.80%	18.13%	22.09%	9.96%	12.65%	11.48%	14.79%	18.36%	17.99%	17.32%	27.77%
Net Working Capital to Revenue	20.74%	16.36%	20.44%	9.17%	11.88%	11.48%	14.79%	18.08%	17.74%	16.86%	27.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.23	$1.79	$1.49	$2.29	$2.56	$2.92	$3.24	$2.60	$2.68	$3.08	$3.59
Adjusted Weighted Average Basic Shares Outstanding	106.70M	102.47M	99.33M	99.06M	95.38M	95.46M	94.28M	91.45M	91.62M	91.57M	91.57M
Adjusted Diluted Earnings per Share	$1.22	$1.76	$1.47	$2.27	$2.55	$2.91	$3.24	$2.60	$2.68	$3.07	$3.58
Adjusted Weighted Average Diluted Shares Outstanding	107.58M	103.84M	100.37M	100.02M	95.81M	95.73M	94.52M	91.70M	91.87M	91.86M	91.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	104.79M	99.45M	99.49M	94.87M	95.08M	94.99M	91.40M	91.28M	91.31M	91.48M	91.45M
Normalized Net Operating Profit after Tax (NOPAT)	88	199	148	223	251	281	265	269	242	270	269
Normalized NOPAT Margin	6.24%	12.84%	8.78%	12.41%	13.25%	13.22%	12.47%	12.04%	9.71%	10.00%	8.41%
Pre Tax Income Margin	15.62%	16.59%	17.53%	15.56%	16.56%	17.06%	18.63%	14.08%	12.88%	12.90%	12.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	18.42	29.66	19.87	9.89	9.04	11.79	12.05	0.00	6.70	8.35	8.22
NOPAT to Interest Expense	11.72	21.17	9.97	8.02	7.05	9.09	7.49	0.00	5.14	6.76	6.18
EBIT Less CapEx to Interest Expense	11.69	22.30	13.36	5.96	3.88	3.56	3.36	0.00	3.49	4.46	4.05
NOPAT Less CapEx to Interest Expense	4.99	13.81	3.46	4.09	1.89	0.86	-1.21	0.00	1.92	2.87	2.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.23%	20.35%	28.34%	28.08%	26.72%	26.13%	26.01%	33.98%	34.50%	31.30%	28.03%
Augmented Payout Ratio	79.29%	179.93%	28.34%	122.56%	34.89%	33.99%	99.73%	42.36%	34.50%	38.38%	37.13%

This table displays calculated financial ratios and metrics derived from BWX Technologies' 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	-	-	-	-	-	-	-	-	-	-	91,445,088.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	91,445,088.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.00
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.66%	16.24%	6.26%	11.27%	13.89%	2.86%	12.96%	12.12%	28.92%	18.70%	26.08%
EBITDA Growth	1.75%	-16.24%	9.51%	27.93%	9.04%	-16.10%	1.86%	-4.64%	21.03%	22.51%	7.68%
EBIT Growth	0.60%	-20.16%	9.87%	32.08%	9.46%	-22.05%	-1.69%	-11.17%	17.81%	19.04%	3.72%
NOPAT Growth	21.22%	-18.37%	8.89%	41.22%	4.69%	-8.38%	9.72%	-14.53%	13.03%	11.28%	9.86%
Net Income Growth	-2.40%	54.11%	12.36%	24.51%	15.39%	7.19%	10.20%	7.42%	18.02%	31.80%	20.74%
EPS Growth	-1.49%	51.06%	11.94%	23.44%	15.15%	8.45%	9.33%	7.59%	17.11%	32.47%	20.73%
Operating Cash Flow Growth	14.39%	105.97%	353.58%	-18.26%	-56.11%	24.85%	53.36%	141.36%	338.76%	-54.13%	82.82%
Free Cash Flow Firm Growth	37.73%	91.28%	125.20%	159.42%	67.06%	940.94%	-148.73%	-843.76%	-679.84%	-848.85%	-2,566.20%
Invested Capital Growth	8.79%	4.20%	1.62%	1.44%	4.75%	-0.88%	4.06%	21.17%	15.96%	32.78%	24.20%
Revenue Q/Q Growth	-3.67%	22.97%	-16.75%	12.83%	-1.40%	11.06%	-8.58%	11.99%	13.38%	2.26%	-2.89%
EBITDA Q/Q Growth	0.42%	13.87%	-5.27%	18.10%	-14.41%	-12.38%	15.00%	10.57%	8.63%	-21.30%	13.91%
EBIT Q/Q Growth	-0.01%	16.71%	-6.68%	21.27%	-17.14%	-16.88%	17.69%	9.58%	9.90%	-28.50%	20.46%
NOPAT Q/Q Growth	6.66%	17.07%	-11.19%	27.35%	-20.93%	2.45%	6.36%	-0.80%	4.57%	-6.38%	9.76%
Net Income Q/Q Growth	2.88%	9.87%	3.35%	6.58%	-4.66%	2.06%	6.26%	3.89%	4.75%	13.98%	-2.66%
EPS Q/Q Growth	3.13%	7.58%	5.63%	5.33%	-3.80%	1.32%	6.49%	3.66%	4.71%	14.61%	-2.94%
Operating Cash Flow Q/Q Growth	-7.77%	198.28%	-85.11%	99.52%	-50.48%	748.60%	-81.71%	214.00%	-9.99%	-11.29%	-27.08%
Free Cash Flow Firm Q/Q Growth	-26.93%	90.88%	406.29%	67.62%	-170.36%	332.81%	-117.75%	-2,458.46%	26.23%	-110.93%	23.61%
Invested Capital Q/Q Growth	0.86%	-3.88%	2.98%	1.61%	4.14%	-9.04%	8.11%	18.31%	-0.33%	4.15%	1.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.05%	25.99%	24.61%	24.69%	24.40%	23.37%	24.21%	25.05%	21.82%	21.14%	22.94%
EBITDA Margin	16.42%	15.20%	17.30%	18.11%	15.72%	12.40%	15.60%	15.40%	14.75%	11.36%	13.32%
Operating Margin	13.06%	12.39%	13.21%	14.50%	12.06%	9.39%	12.09%	10.98%	10.64%	8.02%	9.90%
EBIT Margin	13.06%	12.39%	13.90%	14.94%	12.55%	9.39%	12.09%	11.83%	11.47%	8.02%	9.95%
Profit (Net Income) Margin	10.23%	9.14%	11.35%	10.72%	10.36%	9.52%	11.07%	10.27%	9.49%	10.58%	10.60%
Tax Burden Percent	77.21%	77.45%	77.55%	79.72%	76.85%	91.02%	82.26%	80.26%	76.41%	92.78%	84.97%
Interest Burden Percent	101.45%	95.21%	105.31%	90.03%	107.46%	111.40%	111.29%	108.14%	108.27%	142.15%	125.41%
Effective Tax Rate	22.79%	22.55%	22.45%	20.28%	23.15%	8.98%	17.74%	19.74%	23.59%	7.22%	15.03%
Return on Invested Capital (ROIC)	12.30%	12.44%	12.91%	14.72%	11.87%	11.81%	13.39%	11.09%	10.74%	10.49%	12.02%
ROIC Less NNEP Spread (ROIC-NNEP)	12.38%	12.13%	13.49%	14.21%	12.53%	12.57%	14.13%	12.03%	11.76%	12.99%	13.63%
Return on Net Nonoperating Assets (RNNOA)	18.28%	15.66%	17.77%	17.34%	14.65%	11.87%	14.40%	13.06%	11.90%	12.48%	13.42%
Return on Equity (ROE)	30.58%	28.10%	30.68%	32.06%	26.52%	23.68%	27.80%	24.15%	22.64%	22.97%	25.44%
Cash Return on Invested Capital (CROIC)	2.98%	8.43%	10.67%	11.77%	8.37%	14.52%	9.24%	-7.66%	-3.15%	-16.12%	-9.75%
Operating Return on Assets (OROA)	11.48%	11.53%	12.78%	13.92%	11.76%	9.04%	11.52%	10.37%	10.43%	7.18%	9.10%
Return on Assets (ROA)	8.99%	8.50%	10.43%	9.99%	9.71%	9.17%	10.54%	9.00%	8.63%	9.47%	9.70%
Return on Common Equity (ROCE)	30.58%	28.10%	30.68%	32.07%	26.53%	23.68%	27.80%	24.16%	22.64%	22.97%	25.44%
Return on Equity Simple (ROE_SIMPLE)	25.58%	0.00%	26.83%	26.86%	26.21%	0.00%	26.29%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	59	70	62	79	62	64	68	67	70	66	72
NOPAT Margin	10.08%	9.60%	10.24%	11.56%	9.27%	8.55%	9.95%	8.81%	8.13%	7.44%	8.41%
Net Nonoperating Expense Percent (NNEP)	-0.07%	0.31%	-0.59%	0.51%	-0.65%	-0.76%	-0.73%	-0.94%	-1.01%	-2.50%	-1.61%
Return On Investment Capital (ROIC_SIMPLE)	-	3.25%	-	-	-	2.99%	2.95%	2.48%	2.56%	2.03%	2.19%
Cost of Revenue to Revenue	73.95%	74.01%	75.39%	75.31%	75.60%	76.63%	75.79%	74.95%	78.18%	78.86%	77.06%
SG&A Expenses to Revenue	13.53%	10.28%	11.15%	11.71%	12.03%	12.15%	12.84%	13.47%	10.78%	12.48%	12.56%
R&D to Revenue	0.20%	0.23%	0.25%	0.19%	0.31%	0.35%	0.30%	0.60%	0.40%	0.43%	0.48%
Operating Expenses to Revenue	12.99%	13.59%	11.40%	11.89%	12.34%	12.42%	12.12%	14.07%	11.18%	13.12%	13.05%
Earnings before Interest and Taxes (EBIT)	77	90	84	102	84	70	83	90	99	71	86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	97	110	104	123	106	93	106	118	128	101	115
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.78	7.45	9.87	8.68	9.39	9.43	8.20	11.11	13.57	12.82	14.60
Price to Tangible Book Value (P/TBV)	17.25	15.43	19.80	16.37	16.89	16.22	16.02	37.93	41.11	39.33	40.41
Price to Revenue (P/Rev)	2.83	2.79	3.69	3.33	3.70	3.77	3.24	4.59	5.51	4.94	5.54
Price to Earnings (P/E)	30.45	28.30	36.90	32.37	35.90	36.13	31.23	44.71	54.89	48.04	54.27
Dividend Yield	1.23%	1.21%	0.91%	0.99%	0.87%	0.86%	0.98%	0.68%	0.54%	0.58%	0.50%
Earnings Yield	3.28%	3.53%	2.71%	3.09%	2.79%	2.77%	3.20%	2.24%	1.82%	2.08%	1.84%
Enterprise Value to Invested Capital (EV/IC)	3.89	4.06	5.15	4.73	5.14	5.67	4.76	5.80	7.28	6.63	7.66
Enterprise Value to Revenue (EV/Rev)	3.32	3.20	4.12	3.74	4.11	4.09	3.61	5.05	5.92	5.36	5.93
Enterprise Value to EBITDA (EV/EBITDA)	21.48	20.29	25.99	22.72	25.43	26.60	23.79	35.09	42.01	36.30	41.67
Enterprise Value to EBIT (EV/EBIT)	27.13	25.34	32.48	28.13	31.53	33.53	30.17	45.57	55.06	47.20	54.66
Enterprise Value to NOPAT (EV/NOPAT)	35.59	33.07	42.24	36.06	40.47	41.42	36.73	55.40	67.24	62.84	71.68
Enterprise Value to Operating Cash Flow (EV/OCF)	31.89	21.97	25.43	24.61	31.19	27.07	23.55	27.87	28.73	35.76	38.40
Enterprise Value to Free Cash Flow (EV/FCFF)	136.12	49.22	48.61	40.45	62.91	38.90	52.56	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.54	1.30	1.30	1.21	1.16	0.98	1.09	1.29	1.22	1.64	1.58
Long-Term Debt to Equity	1.53	1.29	1.29	1.21	1.15	0.97	1.08	1.28	1.21	1.64	1.58
Financial Leverage	1.48	1.29	1.32	1.22	1.17	0.94	1.02	1.09	1.01	0.96	0.98
Leverage Ratio	3.44	3.19	3.18	3.03	2.97	2.79	2.86	3.00	2.93	3.09	3.10
Compound Leverage Factor	3.49	3.04	3.34	2.73	3.19	3.11	3.18	3.24	3.17	4.39	3.89
Debt to Total Capital	60.59%	56.45%	56.50%	54.85%	53.77%	49.42%	52.13%	56.41%	54.87%	62.05%	61.18%
Short-Term Debt to Total Capital	0.28%	0.29%	0.36%	0.42%	0.48%	0.59%	0.54%	0.46%	0.45%	0.00%	0.00%
Long-Term Debt to Total Capital	60.31%	56.16%	56.14%	54.42%	53.30%	48.83%	51.58%	55.95%	54.42%	62.05%	61.18%
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	-0.01%	0.00%	-0.01%	-0.01%	0.00%	-0.01%	-0.01%	-0.01%	-0.01%	0.02%	-0.01%
Common Equity to Total Capital	39.41%	43.55%	43.51%	45.16%	46.23%	50.60%	47.88%	43.60%	45.14%	37.93%	38.82%
Debt to EBITDA	3.62	3.07	3.06	2.83	2.84	2.54	2.84	3.72	3.51	4.26	4.20
Net Debt to EBITDA	3.17	2.62	2.69	2.48	2.50	2.09	2.39	3.17	2.89	2.87	2.78
Long-Term Debt to EBITDA	3.60	3.06	3.05	2.81	2.82	2.51	2.81	3.69	3.48	4.26	4.20
Debt to NOPAT	5.99	5.01	4.98	4.50	4.52	3.95	4.39	5.87	5.61	7.38	7.22
Net Debt to NOPAT	5.25	4.28	4.37	3.93	3.98	3.25	3.69	5.01	4.62	4.96	4.78
Long-Term Debt to NOPAT	5.97	4.98	4.95	4.46	4.48	3.91	4.34	5.82	5.56	7.38	7.22
Altman Z-Score	4.35	4.58	5.33	5.15	5.45	5.74	5.04	5.03	5.93	5.00	5.63
Noncontrolling Interest Sharing Ratio	0.01%	0.00%	-0.02%	-0.02%	-0.01%	-0.02%	-0.02%	-0.02%	-0.01%	0.01%	-0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.50	2.18	2.24	2.23	2.25	1.96	2.02	1.69	1.71	2.32	2.40
Quick Ratio	0.49	0.43	0.37	0.38	0.32	0.48	0.39	0.36	0.45	1.17	1.13
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-106	-9.64	30	50	-35	81	-14	-368	-272	-573	-438
Operating Cash Flow to CapEx	240.48%	436.65%	108.56%	216.72%	80.96%	527.20%	151.79%	485.94%	296.60%	180.93%	217.85%
Free Cash Flow to Firm to Interest Expense	-8.68	-0.81	3.08	4.63	-3.52	8.73	-1.80	-31.36	-19.37	-54.80	-92.46
Operating Cash Flow to Interest Expense	6.11	18.74	3.44	6.17	3.29	29.82	6.34	13.55	10.21	12.15	19.56
Operating Cash Flow Less CapEx to Interest Expense	3.57	14.45	0.27	3.32	-0.77	24.16	2.16	10.76	6.77	5.43	10.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.93	0.92	0.93	0.94	0.96	0.95	0.88	0.91	0.90	0.92
Accounts Receivable Turnover	20.96	28.66	27.03	25.80	23.52	22.64	24.16	20.45	19.30	14.52	17.55
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	56.79	54.83
Fixed Asset Turnover	2.11	2.11	2.12	2.15	2.18	2.16	2.20	2.06	2.18	2.23	2.33
Accounts Payable Turnover	12.10	14.78	13.31	12.58	12.44	14.39	13.64	12.20	12.18	16.47	13.82
Days Sales Outstanding (DSO)	17.42	12.74	13.50	14.15	15.52	16.12	15.11	17.84	18.92	25.14	20.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.43	6.66
Days Payable Outstanding (DPO)	30.17	24.69	27.42	29.02	29.33	25.37	26.76	29.93	29.96	22.16	26.41
Cash Conversion Cycle (CCC)	-12.75	-11.96	-13.91	-14.87	-13.81	-9.25	-11.66	-12.08	-11.04	9.41	1.05
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,046	1,966	2,025	2,057	2,143	1,949	2,107	2,493	2,485	2,588	2,617
Invested Capital Turnover	1.22	1.30	1.26	1.27	1.28	1.38	1.35	1.26	1.32	1.41	1.43
Increase / (Decrease) in Invested Capital	165	79	32	29	97	-17	82	435	342	639	510
Enterprise Value (EV)	7,961	7,990	10,422	9,722	11,021	11,054	10,032	14,470	18,094	17,157	20,036
Market Capitalization	6,787	6,957	9,343	8,663	9,937	10,186	9,025	13,161	16,851	15,802	18,700
Book Value per Share	$9.53	$10.20	$10.34	$10.92	$11.58	$11.82	$12.01	$12.96	$13.59	$13.48	$14.00
Tangible Book Value per Share	$4.30	$4.93	$5.15	$5.79	$6.44	$6.87	$6.15	$3.80	$4.48	$4.39	$5.06
Total Capital	2,213	2,143	2,175	2,211	2,290	2,136	2,298	2,716	2,751	3,249	3,298
Total Debt	1,341	1,210	1,229	1,213	1,232	1,055	1,198	1,532	1,510	2,016	2,018
Total Long-Term Debt	1,334	1,203	1,221	1,203	1,221	1,043	1,185	1,520	1,497	2,016	2,018
Net Debt	1,174	1,033	1,079	1,059	1,084	869	1,007	1,309	1,243	1,355	1,337
Capital Expenditures (CapEx)	31	51	30	30	40	53	33	33	48	70	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	480	370	437	459	518	391	446	379	387	385	427
Debt-free Net Working Capital (DFNWC)	533	449	486	511	556	468	504	419	470	888	942
Net Working Capital (NWC)	527	443	478	501	545	456	492	407	457	888	942
Net Nonoperating Expense (NNE)	-0.86	3.33	-6.68	5.72	-7.36	-7.27	-7.66	-11	-12	-28	-19
Net Nonoperating Obligations (NNO)	1,174	1,033	1,079	1,059	1,084	869	1,007	1,309	1,243	1,355	1,337
Total Depreciation and Amortization (D&A)	20	20	21	22	21	22	24	27	28	30	29
Debt-free, Cash-free Net Working Capital to Revenue	20.03%	14.84%	17.25%	17.66%	19.31%	14.48%	16.04%	13.24%	12.66%	12.05%	12.63%
Debt-free Net Working Capital to Revenue	22.25%	17.99%	19.18%	19.63%	20.74%	17.32%	18.13%	14.63%	15.36%	27.77%	27.90%
Net Working Capital to Revenue	21.99%	17.74%	18.87%	19.27%	20.33%	16.86%	17.68%	14.20%	14.96%	27.77%	27.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.66	$0.71	$0.75	$0.80	$0.76	$0.77	$0.82	$0.86	$0.90	$1.01	$0.99
Adjusted Weighted Average Basic Shares Outstanding	91.66M	91.62M	91.56M	91.56M	91.57M	91.57M	91.59M	91.54M	91.57M	91.57M	91.66M
Adjusted Diluted Earnings per Share	$0.66	$0.71	$0.75	$0.79	$0.76	$0.77	$0.82	$0.85	$0.89	$1.02	$0.99
Adjusted Weighted Average Diluted Shares Outstanding	91.90M	91.87M	91.86M	91.80M	91.89M	91.86M	91.87M	91.70M	91.79M	91.86M	91.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	91.51M	91.31M	91.41M	91.42M	91.44M	91.48M	91.36M	91.40M	91.43M	91.45M	91.61M
Normalized Net Operating Profit after Tax (NOPAT)	59	70	62	79	62	64	64	67	70	65	72
Normalized NOPAT Margin	10.08%	9.60%	10.24%	11.56%	9.27%	8.55%	9.41%	8.81%	8.13%	7.38%	8.42%
Pre Tax Income Margin	13.25%	11.80%	14.63%	13.45%	13.49%	10.46%	13.46%	12.80%	12.42%	11.40%	12.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.33	7.60	8.75	9.52	8.51	7.55	10.32	7.70	7.09	6.80	18.08
NOPAT to Interest Expense	4.89	5.88	6.45	7.37	6.29	6.87	8.49	5.73	5.02	6.30	15.28
EBIT Less CapEx to Interest Expense	3.79	3.31	5.58	6.68	4.44	1.89	6.15	4.91	3.64	0.08	9.10
NOPAT Less CapEx to Interest Expense	2.35	1.59	3.28	4.52	2.22	1.22	4.32	2.95	1.58	-0.41	6.30
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.68%	34.50%	33.76%	32.29%	31.50%	31.30%	30.98%	30.80%	29.85%	28.03%	27.38%
Augmented Payout Ratio	37.68%	34.50%	41.64%	39.74%	38.71%	38.38%	41.35%	40.98%	39.62%	37.13%	27.38%

Financials Breakdown Chart

Key Financial Trends

BWX Technologies, Inc. (BWXT) posted meaningful top-line growth in 2025’s Q4 and continued to generate cash, supported by debt financing activity. Below are the key trends drawn from the last four years of quarterly statements (Q1 2023 through Q4 2025), focusing on the latest quarter.

Q4 2025 revenue rose to $885.842 million, up about 18.7% from Q4 2024 at $746.267 million.
Q4 2025 net income to common shareholders was $92.989 million, roughly 32% higher than $71.018 million in Q4 2024.
Q4 2025 diluted earnings per share (EPS) was $1.02, up from $0.89 in Q4 2024.
Operating cash flow remained positive in 2025 quarters, with Q2 2025 at $159.043 million, Q3 2025 at $143.160 million, and Q4 2025 at $126.995 million.
Debt financing activity supported liquidity in 2025, including a Q4 2025 debt issuance of $1.408 billion and a net financing inflow of $354.032 million for the quarter.
The quarterly cash dividend per share stayed at $0.25, providing a steady shareholder return.
Impairment charges were minimal (for example, a negative impairment expense of $0.555 million in Q4 2025; other quarters show little to no impairment).
Research and development expenses remained modest (Q4 2025 RD expense of $3.81 million), a small portion of operating costs.
Gross margin compressed in Q4 2025 to about 21.2% (Gross Profit of $187.275 million on $885.842 million revenue) from roughly 23.3% in Q4 2024.
Cash flow from operations declined in Q4 2025 versus Q4 2024 (CFO of about $126.99 million vs. $276.88 million), pointing to working-capital timing or other quarterly dynamics.
Debt levels remained elevated, with long-term debt near $1.50 billion as of Q3 2025, contributing to total liabilities around $2.54 billion and a meaningful leverage load to manage.

05/26/26 12:09 PM ETAI Generated. May Contain Errors.

BWX Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BWX Technologies' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

BWX Technologies' net income appears to be on an upward trend, with a most recent value of $329.86 million in 2025, rising from $131.45 million in 2015. The previous period was $282.30 million in 2024. Find out what analysts predict for BWX Technologies in the coming months.

BWX Technologies' total operating income in 2025 was $329.55 million, based on the following breakdown:

Total Gross Profit: $732.86 million
Total Operating Expenses: $403.31 million

Over the last 10 years, BWX Technologies' total revenue changed from $1.42 billion in 2015 to $3.20 billion in 2025, a change of 126.0%.

BWX Technologies' total liabilities were at $3.04 billion at the end of 2025, a 69.8% increase from 2024, and a 177.3% increase since 2015.

In the past 10 years, BWX Technologies' cash and equivalents has ranged from $29.87 million in 2018 to $499.78 million in 2025, and is currently $499.78 million as of their latest financial filing in 2025.

Over the last 10 years, BWX Technologies' book value per share changed from 2.50 in 2015 to 13.48 in 2025, a change of 440.2%.

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

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BWX Technologies (BWXT) Financials

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