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BWX Technologies
(NYSE:BWXT)
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Rating:63Neutral
Price Target:
$153.00
â–¼(-0.10% Downside)
Action:Reiterated
Date:08/04/26
The score is anchored by steady underlying financial performance but tempered by higher leverage and recent margin compression. A strong, guidance-raising earnings call with substantial backlog momentum meaningfully supports the outlook, while weak technical trends and a high P/E with a low dividend yield weigh on near-term attractiveness.
Positive Factors
Strong backlog and demand visibility
The large and growing backlog provides multi-year revenue visibility and demonstrates demand for BWXT’s nuclear products and services. A book-to-bill above one indicates customer commitments are accumulating faster than work is being completed, supporting sustained growth over coming quarters.
Negative Factors
Higher leverage reduces financial flexibility
The sharp increase in debt makes BWXT more sensitive to earnings or cash-flow volatility and reduces flexibility if operating conditions weaken. Greater leverage can also constrain future capital allocation, particularly while the company is funding capacity expansion and advanced nuclear initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong backlog and demand visibility
The large and growing backlog provides multi-year revenue visibility and demonstrates demand for BWXT’s nuclear products and services. A book-to-bill above one indicates customer commitments are accumulating faster than work is being completed, supporting sustained growth over coming quarters.
Read all positive factors
BWX Technologies (BWXT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.18B
Dividend Yield0.74%
Average Volume (3M)1.19M
Price to Earnings (P/E)37.1
Beta (1Y)1.12
Revenue Growth22.70%
EPS Growth20.60%
CountryUS
Employees10,400
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)3.88
Shares Outstanding91,621,980
10 Day Avg. Volume1,512,797
30 Day Avg. Volume1,191,424
Financial Highlights & Ratios
PEG Ratio2.84
Price to Book (P/B)12.84
Price to Sales (P/S)4.95
P/FCF Ratio53.60
Enterprise Value/Market Cap1.47
Enterprise Value/Revenue5.50
Enterprise Value/Gross Profit24.92
Enterprise Value/Ebitda34.91
Forecast
1Y Price Target
$210.30Price Target Upside37.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)4.74
Revenue Forecast (FY)$3.81B
BWX Technologies Business Overview & Revenue Model
Company Description
BWX Technologies, Inc. operates globally, specializing in the production and sale of nuclear components across the United States, Canada, and other international regions. The company's multifaceted operations are categorized into three distinct se...
How the Company Makes Money
BWXT primarily makes money by delivering nuclear-related products and services under contracts, with the largest portion of revenue historically tied to U.S. government programs. Key revenue streams include: (1) U.S. Naval Nuclear Propulsion work:...
BWX Technologies Earnings Call Summary
Earnings Call Date:Jun 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call conveyed a clearly positive operational and financial momentum: strong top-line growth (18% quarterly, commercial +72%), backlog up 40% YoY, upgraded cash flow and EBITDA guidance, major strategic actions (PCG acquisition, medical divestiture), and technical milestones (TRISO/Antares criticality, centrifuge prototype). Headwinds are mainly strategic investments that will pressure near-term margins (commercial capacity build, higher CapEx), some accounting-driven revisions to government revenue growth, TRISO demand uncertainty pending firm orders, and modest sequential backlog timing effects. Overall the positives (robust revenue/EBITDA growth, backlog, cash generation, strategic deals and milestones) substantially outweigh the identified challenges.Positive Updates
Quarterly Revenue Growth
Q2 revenue was $902 million, up 18% year-over-year, including 9% organic growth.
Negative Updates
Government Revenue Growth Revision
Government Operations revenue growth guidance was revised down from 'low teens' to 'high single digits' due to accounting for stronger cost performance (lower reported revenue but favorable economics).
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Q2 revenue was $902 million, up 18% year-over-year, including 9% organic growth.
Read all positive updates
Company Guidance
BWXT raised its 2026 outlook: it now expects about $3.8 billion of revenue (high‑teens growth vs. 2025), adjusted EBITDA of $662–672 million (midpoint +$10M), non‑GAAP EPS of $4.70–4.80, and increased full‑year free cash flow guidance by $30 million to $345–360 million. Management cited Q2 results that support the update (Q2 revenue $902M, +18% YoY and +9% organic; Q2 adjusted EBITDA ≈ $155M, +7%; Q2 adjusted EPS $1.07, +5%; Q2 free cash flow $115M), backlog of $8.4B (+40% YoY) and a trailing‑12‑month book‑to‑bill of 1.7x. Segment guidance was revised: Government Operations revenue now expected to grow in the high single digits (vs. prior low‑teens) with an adjusted EBITDA margin target of ~20.5% (up from >19%), while Commercial Operations revenue growth was raised to ~45% (from ~30%) with an adjusted EBITDA margin of ~13% (vs. ~14% previously) after incremental capacity investments. Other noted metrics: Q2 Commercial revenue +72% (33% organic) and Commercial adj. EBITDA +123% to $36M (11.9% margin); Q2 GovOps margin 20.9%; full‑year CapEx targeted at ~6% of sales (Q2 CapEx $41M; could approach 7% in future years); Q2 adjusted effective tax rate 21.8%; ~55% of second‑half earnings expected in Q4; and the medical sale removes roughly $130M of 2026 revenue (to be accounted for as equity income post‑close).BWX Technologies Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.51B | 3.20B | 2.70B | 2.50B | 2.23B | 2.12B |
| Gross Profit | 775.17M | 731.52M | 655.21M | 620.59M | 551.93M | 550.28M |
| EBITDA | 553.33M | 551.51M | 474.06M | 447.00M | 424.63M | 500.55M |
| Net Income | 355.30M | 329.86M | 281.94M | 245.85M | 238.19M | 305.87M |
Balance Sheet | ||||||
| Total Assets | 4.42B | 4.27B | 2.87B | 2.75B | 2.62B | 2.50B |
| Cash, Cash Equivalents and Short-Term Investments | 608.20M | 502.86M | 74.11M | 78.62M | 39.05M | 37.70M |
| Total Debt | 2.02B | 2.02B | 1.06B | 1.21B | 1.29B | 1.19B |
| Total Liabilities | 3.09B | 3.04B | 1.79B | 1.81B | 1.87B | 1.86B |
| Stockholders Equity | 1.33B | 1.23B | 1.08B | 933.35M | 748.31M | 637.17M |
Cash Flow | ||||||
| Free Cash Flow | 316.76M | 295.29M | 254.78M | 212.41M | 46.39M | 74.97M |
| Operating Cash Flow | 519.16M | 479.85M | 408.43M | 363.70M | 244.70M | 386.03M |
| Investing Cash Flow | -197.07M | -742.11M | -154.56M | -155.64M | -256.24M | -304.65M |
| Financing Cash Flow | 250.82M | 693.64M | -252.78M | -169.37M | 13.95M | -90.14M |
BWX Technologies Technical Analysis
Neutral
153.16
Price Trends
153.74
Negative
171.11
Negative
188.46
Negative
Market Momentum
-3.79
Negative
47.71
Neutral
70.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BWXT, the sentiment is Neutral. The current price of 153.16 is above the 20-day moving average (MA) of 141.77, below the 50-day MA of 153.74, and below the 200-day MA of 188.46, indicating a neutral trend. The MACD of -3.79 indicates Negative momentum. The RSI at 47.71 is Neutral, neither overbought nor oversold. The STOCH value of 70.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BWXT.
BWX Technologies Risk Analysis
BWX Technologies disclosed 28 risk factors in its most recent earnings report. BWX Technologies reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BWX Technologies Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $11.52B | 30.49 | 18.00% | 0.33% | 15.65% | 78.52% | |
74 Outperform | $89.63B | 19.92 | 17.43% | 1.89% | 9.13% | 10.37% | |
74 Outperform | $68.29B | 15.24 | 26.58% | 1.99% | 5.90% | 16.00% | |
67 Neutral | $18.93B | 35.09 | 20.69% | 0.20% | 10.54% | 22.56% | |
65 Neutral | $10.43B | 15.76 | 12.89% | 2.08% | 13.97% | 25.77% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $13.18B | 37.07 | 27.92% | 0.74% | 22.70% | 20.60% |
* Industrials Sector Average
BWXT
BWX Technologies
143.83
-52.41
-26.71%
CW
Curtiss-Wright
512.60
-37.32
-6.79%
GD
General Dynamics
331.27
2.82
0.86%
HII
Huntington Ingalls
264.80
-18.39
-6.49%
MOG.A
Moog
363.09
157.46
76.58%
NOC
Northrop Grumman
480.72
-128.23
-21.06%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.