Babcock & Wilcox Enterprises, Inc. (BW) intrinsic value & 10-year financials
Babcock & Wilcox Enterprises, Inc. (BW) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 10.4% a year to $587.7M, with an average return on invested capital of 32.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $4.62
- Market cap
- $487.0M
- Revenue (FY2025)
- $587.7M
- Revenue growth (10-yr CAGR)
- -10.4%
- ROIC (10-yr avg)
- 32.4%
- Free cash flow (FY2025)
- -$85.7M
BW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $587.7M | -$36.2M | -$0.48 | -$85.7M | 3.5% | -9.6% |
| FY2024 | $717.3M | -$59.9M | -$0.82 | -$129.9M | 3.5% | -10.8% |
| FY2023 | $999.4M | -$197.2M | -$2.38 | -$52.1M | 2.0% | -16.6% |
| FY2022 | $889.8M | -$22.9M | -$0.43 | -$43.9M | -0.5% | 5.2% |
| FY2021 | $723.4M | $30.9M | $0.26 | -$117.9M | 2.9% | -13.3% |
| FY2020 | $566.3M | -$10.3M | -$0.21 | -$49.0M | -0.3% | 0.9% |
| FY2019 | $859.1M | -$122.0M | -$3.87 | -$180.1M | -3.4% | 12.6% |
| FY2018 | $1.1B | -$725.3M | — | -$287.4M | -40.2% | 598.3% |
| FY2017 | $1.6B | -$379.8M | -$8.09 | -$204.1M | -18.1% | -224.5% |
| FY2016 | $1.6B | -$115.6M | -$2.31 | -$20.2M | -6.5% | -18.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Babcock & Wilcox Enterprises, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Babcock & Wilcox Enterprises, Inc. has historically struggled to out-earn its cost of capital, averaging just -4.6% ROIC.
Babcock & Wilcox Enterprises, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Babcock & Wilcox Enterprises, Inc. is modeled at -10.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-2.76 per share.