Babcock & Wilcox Enterprises, Inc. (BW) Financial Statements
Industry: Heating Equipment, Except Electric & Warm Air Furnaces
In fiscal 2025, Babcock & Wilcox Enterprises reported revenue of $587.7M, down 18.1% from $717.3M the year before. Net income was -$36.2M (a -6.2% net margin), or -$0.48 per diluted share. Gross margin was 24.5% and operating margin was 3.5%. Operating activities generated -$68.9M of cash, leaving -$85.7M of free cash flow. At fiscal year end, Babcock & Wilcox Enterprises held $662.9M in total assets against $794.5M in total liabilities, including $89.5M of cash and equivalents.
Open the full interactive Babcock & Wilcox Enterprises financials → Quarterly statements, key ratios, valuation history and price charts.
Babcock & Wilcox Enterprises Key Stats
| Share Price | $4.98 |
|---|---|
| Market Cap | $769.5M |
| Revenue YoY Growth | -18.1% |
| 52-Week Range | $3.16 – $21.85 |
| Shares Outstanding | 142.3 million (basic, 2026 Q2) |
Babcock & Wilcox Enterprises Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $566.3M | $723.4M | $889.8M | $999.4M | $717.3M | $587.7M |
| Cost of Goods Sold | $4.4M | $702.5M | $894.0M | $979.5M | $692.2M | $566.9M |
| Gross Profit | $165.9M | $179.5M | $185.6M | $224.1M | $177.0M | $143.9M |
| Operating Income | -$1.7M | $20.8M | -$4.2M | $19.9M | $25.1M | $20.7M |
| Pre-Tax Income | -$3.9M | $29.3M | -$15.5M | -$70.2M | -$60.8M | -$24.6M |
| Income Tax | $8.2M | -$2.2M | $11.1M | $8.5M | $12.2M | $8.3M |
| Net Income | -$10.3M | $30.9M | -$22.9M | -$197.2M | -$59.9M | -$36.2M |
| Diluted EPS | -$0.21 | $0.26 | -$0.43 | -$2.38 | -$0.82 | -$0.48 |
Babcock & Wilcox Enterprises Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $149.0M | $113.4M | $214.4M | $319.7M |
| Net Income | $35.1M | $9.2M | -$76.9M | $14.3M |
| Diluted EPS | $0.30 | $0.09 | -$0.60 | $0.07 |
Babcock & Wilcox Enterprises Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $57.3M | $224.9M | $76.7M | $65.3M | $26.9M | $89.5M |
| Current Assets | $388.8M | $582.4M | $557.6M | $497.6M | $490.2M | $470.7M |
| Total Assets | $591.8M | $913.3M | $942.7M | $775.7M | $727.0M | $662.9M |
| Current Liabilities | $270.8M | $253.4M | $372.0M | $350.2M | $388.5M | $386.7M |
| Total Long-Term Debt | $183.3M | $343.6M | $353.0M | $379.5M | $473.9M | $86.2M |
| Total Liabilities | $930.1M | $854.6M | $944.7M | $976.0M | $1.01B | $794.5M |
| Shareholders' Equity | -$339.4M | $33.1M | -$2.6M | -$201.0M | -$283.8M | -$131.5M |
Babcock & Wilcox Enterprises Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$40.8M | -$111.2M | -$30.6M | -$42.3M | -$118.7M | -$68.9M |
| Cash From Investing | $2.2M | -$33.5M | -$68.8M | -$7.9M | $110.0M | $197.0M |
| Cash From Financing | $44.1M | $302.8M | -$11.2M | $8.6M | $69.7M | -$58.7M |
| Free Cash Flow | -$49.0M | -$117.9M | -$43.9M | -$52.1M | -$129.9M | -$85.7M |
Figures from Babcock & Wilcox Enterprises' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Babcock & Wilcox Enterprises financials page for every line item.
Babcock & Wilcox Enterprises Company Profile
| Ticker | BW |
|---|---|
| Exchange | NYSE |
| Industry | Heating Equipment, Except Electric & Warm Air Furnaces |
| Headquarters | Akron, Ohio |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001630805 |
Frequently Asked Questions
What was Babcock & Wilcox Enterprises' revenue in fiscal 2025?
Babcock & Wilcox Enterprises (BW) reported revenue of $587.7M for fiscal 2025.
What is Babcock & Wilcox Enterprises' annual revenue history?
Babcock & Wilcox Enterprises' annual revenue by fiscal year: 2020: $566.3M; 2021: $723.4M; 2022: $889.8M; 2023: $999.4M; 2024: $717.3M; 2025: $587.7M.
What was Babcock & Wilcox Enterprises' net income in fiscal 2025?
Babcock & Wilcox Enterprises reported net income of -$36.2M for fiscal 2025.
What was Babcock & Wilcox Enterprises' earnings per share (EPS) in fiscal 2025?
Babcock & Wilcox Enterprises' diluted EPS was -$0.48 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Babcock & Wilcox Enterprises generate in fiscal 2025?
Babcock & Wilcox Enterprises generated -$85.7M of free cash flow in fiscal 2025.
What was Babcock & Wilcox Enterprises' revenue last quarter?
In its most recent reported quarter (2026 Q2), Babcock & Wilcox Enterprises reported revenue of $319.7M.
How much debt does Babcock & Wilcox Enterprises have?
Babcock & Wilcox Enterprises reported $86.2M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Babcock & Wilcox Enterprises are outstanding?
Babcock & Wilcox Enterprises reported a weighted average of 142.3 million basic shares outstanding in 2026 Q2.
What is Babcock & Wilcox Enterprises' market cap?
Based on its latest closing price, Babcock & Wilcox Enterprises (BW) has a market capitalization of about $769.5M.
When does Babcock & Wilcox Enterprises' fiscal year end?
Babcock & Wilcox Enterprises' fiscal year end, as registered with the SEC, is December 31.
Where is Babcock & Wilcox Enterprises headquartered?
Babcock & Wilcox Enterprises lists its business address in Akron, Ohio in its SEC filings.