Babcock & Wilcox Enterprises, Inc. (BW) Stock

Babcock & Wilcox Enterprises, Inc. (BW) is a Materials stock trading at $8.46 (as of 2026-08-20), with a market capitalization of $1.26B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Babcock & Wilcox Enterprises, Inc. and subsidiaries provide energy and emissions control technologies and related services for industrial, electrical utility, municipal, and other customers worldwide. It operates through Babcock & Wilcox Renewable, Environmental, and Thermal segments, covering renewable energy systems, environmental emissions control equipment for multiple applications, and steam generation equipment.

Understand Babcock & Wilcox Enterprises, Inc.: how it makes money

Babcock & Wilcox Enterprises provides energy and emissions control solutions for industrial, utility, and municipal customers, with work spanning renewable and waste-to-energy technologies, environmental systems, and thermal systems, and it makes money by delivering these project and technology solutions (including related support and parts and services).

The profit model is primarily about converting contracted work into revenue over time, tracked by Remaining Performance Obligations, and then using the uncontracted project pipeline to replenish future contract awards.

Revenue by segment (latest quarter)
Thermal$0.1B
Renewable$0.0B
Environmental$0.0B

Business quality (Mixed): Scale is supported by a sizable backlog (Remaining Performance Obligations) and large pipeline measures, but the latest quarter showed a negative operating margin (operating margin of -0.8%).

Bull case

  • Backlog visibility: Remaining Performance Obligations (Continuing Operations) are 2.7 USD_B, which provides a base of contracted work for future revenue conversion.
  • Project opportunity funnel: Global Pipeline (Uncontracted Potential Opportunities) is 14.0 USD_B, indicating ongoing opportunity flow beyond the current backlog.

Bear case

  • Current profitability is weak: For the latest quarter, operating margin is -0.8%, which suggests costs and project economics were not fully translating into operating profit.
  • Revenue concentration in one segment: Thermal is the largest reported segment revenue at 0.14 USD_B, while Renewable and Environmental are smaller (0.03 USD_B and 0.01 USD_B), increasing sensitivity to the Thermal segment's execution and demand.
Valuation — source: SEC EDGAR (first-party)
Price$8.46
Market Cap$1.26B
EV / EBITDA34.7
Price / Book21.97
Price / Sales1.58
FCF Yield-4.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$587.68M
Net Margin-6.2%
Revenue Growth (YoY)121.9%
EPS Growth (YoY)-111.1%
FCF Growth (YoY)-14.3%
Financial Health — source: SEC EDGAR
Altman Z-Score-1.58 (distress)
Valuation vs Sector & Industry
Sector P/E (Materials)25.1
Industry P/E (Construction Materials)22.6
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBRC Group Holdings, Inc. ($403.19M)
Institutional Holders Tracked10
Company
SectorMaterials
IndustryConstruction Materials
CEOKenneth Young
Employees1,900
CountryUS
IPO Date2015-06-16

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BW earnings history · BW institutional & insider holders · BW KPIs & operating metrics · BW financials · BW investor presentations & press releases · BW SEC filings · BW peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.