Broadwind, Inc.(BWEN)Earnings, Financials & Key Ratios

BWEN•NASDAQ

$1.98

$46M mkt cap·8.6× P/E·Price updated May 6, 2026

SectorIndustrials IndustryIndustrial Machinery Sub-IndustryMotors, drives and motion control

AboutBroadwind, Inc. manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets. It offers steel towers and adapters primarily to wind turbine manufacturers. The Gearing segment provides gearing, and gearboxes and systems for onshore and offshore oil and gas fracking and drilling, surface and underground mining, wind energy, steel, material handling, and other infrastructure markets. This segment also offers heat treat services for aftermarket and original equipment manufacturer applications. The Industrial Solutions segment provides supply chain solutions for offering instrumentation and controls, valve assemblies, sensor devices, fuel system components, electrical junction boxes and wiring, energy storage services, and electromechanical devices; light fabrication, inventory management, and kitting and assembly services; packaging solutions; and fabricating services for panels and sub-assemblies to combined cycle natural gas turbine market. The company sells its products to the energy, mining, and infrastructure sector customers through its direct sales force and independent sales agents. The company was formerly known as Broadwind Energy, Inc. and changed its name to Broadwind, Inc. in May 2020. Broadwind, Inc. is headquartered in Cicero, Illinois.Show more

Revenue$158M+10.4%
EBITDA$7M-38.0%
Net Income$5M+355.0%
EPS (Diluted)0.23+338.9%
Gross Margin10.21%-31.0%
EBITDA Margin4.28%-43.9%
Operating Margin0.29%-90.3%
Net Margin3.32%+312.1%
ROE8.34%+317.9%
ROIC0.37%-89.5%
Debt/Equity0.43-28.7%
Interest Coverage0.13-90.3%

Technical→

BWEN Key Insights

Broadwind, Inc. (BWEN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Trading at only 0.7x book value
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Negative free cash flow
✗Thin 5Y average net margin of 0.9%
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BWEN Price & Volume

Broadwind, Inc. (BWEN) stock price & volume — 10-year historical chart

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BWEN Growth Metrics

Broadwind, Inc. (BWEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-2.29%

5 Years-4.45%

3 Years-3.66%

TTM10.42%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM355.03%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM325.57%

Return on Capital

10 Years-5.97%

5 Years-1.21%

3 Years6.63%

Last Year0.53%

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AMSCAmerican Superconductor CorporationDirect Competitor	2.74B	57.07	356.69	52.99%	46.7%	24.31%	0.02
SHLSShoals Technologies Group, Inc.Direct Competitor	1.4B	8.33	41.65	19.07%	6.27%	5.67%	0.29
GEVGE Vernova Inc.Product Competitor	300.69B	1118.96	63.25	8.94%	23.81%	79.72%
ENPHEnphase Energy, Inc.Product Competitor	4.72B	35.80	27.75	10.72%	9.64%	13.28%	1.14
ARRYArray Technologies, Inc.Product Competitor	1.24B	8.12	-11.13	40.22%	-5.56%	-20.64%	2.94
HASIHA Sustainable Infrastructure Capital, Inc.Product Competitor	5.54B	43.31	30.72	-36.58%		7.1%	1.91
CWENClearway Energy, Inc.Product Competitor	7.91B	38.49	27.11	4.23%	11.83%	2.98%	1.72
NEENextEra Energy, Inc.Supply Chain	198.92B	95.39	28.99	11%	29.3%	12.66%	1.44

Compare BWEN vs Peers

Broadwind, Inc. (BWEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AMSC

Most directly comparable listed peer for BWEN.

Scale Benchmark

vs NFLX

Larger-name benchmark to compare BWEN against a more recognizable public peer.

Peer Set

Compare Top 5

vs AMSC, SHLS, GEV, ENPH

BWEN Income Statement

Broadwind, Inc. (BWEN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Sales/Revenue	146.78M	125.38M	178.22M	198.5M	145.62M	176.76M	203.48M	143.14M	158.05M
Revenue Growth %	-18.83%	-14.58%	42.14%	11.38%	-26.64%	21.38%	15.12%	-29.65%	10.42%
Cost of Goods Sold	138.63M	122.31M	162.81M	180.5M	140.11M	166.05M	170.97M	121.95M	141.92M
COGS % of Revenue	94.44%	97.56%	91.35%	90.93%	96.22%	93.94%	84.02%	85.2%	89.79%
Gross Profit	8.16M▲ 0%	3.06M▼ 62.4%	15.41M▲ 402.8%	18M▲ 16.8%	5.51M▼ 69.4%	10.71M▲ 94.3%	32.51M▲ 203.5%	21.19M▼ 34.8%	16.13M▼ 23.9%
Gross Margin %	5.56%	2.44%	8.65%	9.07%	3.78%	6.06%	15.98%	14.8%	10.21%
Gross Profit Growth %	-55.02%	-62.43%	402.84%	16.8%	-69.38%	94.34%	203.53%	-34.82%	-23.86%
Operating Expenses	15.59M	15.51M	17.77M	17.58M	18.11M	17.32M	21.37M	16.96M	15.02M
OpEx % of Revenue	10.62%	12.37%	9.97%	8.86%	12.43%	9.8%	10.5%	11.85%	9.5%
Selling, General & Admin	13.83M	13.63M	16.09M	0	17.37M	16.59M	20.7M	16.3M	15.02M
SG&A % of Revenue	9.42%	10.87%	9.03%	-	11.93%	9.39%	10.18%	11.39%	9.5%
Research & Development	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-
Other Operating Expenses	3K	2.35M	1.68M	17.58M	733K	725K	664K	661K	0
Operating Income	-7.43M▲ 0%	-25.07M▼ 237.2%	-2.36M▲ 90.6%	422K▲ 117.9%	-12.59M▼ 3084.4%	-6.61M▲ 47.5%	11.14M▲ 268.6%	4.22M▼ 62.1%	451K▼ 89.3%
Operating Margin %	-5.06%	-19.99%	-1.32%	0.21%	-8.65%	-3.74%	5.47%	2.95%	0.29%
Operating Income Growth %	-489.37%	-237.23%	90.6%	117.9%	-3084.36%	47.54%	268.59%	-62.07%	-89.33%
EBITDA	1.57M	-15.88M	5.14M	6.7M	-6.26M	-547K	17.52M	10.91M	6.76M
EBITDA Margin %	1.07%	-12.67%	2.88%	3.38%	-4.3%	-0.31%	8.61%	7.62%	4.28%
EBITDA Growth %	-82.25%	-1114.24%	132.36%	30.37%	-193.39%	91.26%	3303.29%	-37.74%	-38.02%
D&A (Non-Cash Add-back)	9M	9.18M	7.5M	6.28M	6.34M	6.06M	6.38M	6.68M	6.31M
EBIT	-7.43M	-22.71M	-2.24M	422K	4M	-6.48M	11.09M	4.3M	451K
Net Interest Income	-798K	-1.5M	-2.31M	-1.98M	-1.13M	-3.22M	-3.2M	-3.08M	-3.39M
Interest Income	0	0	0	0	0	0	0	0	0
Interest Expense	798K	1.5M	2.31M	1.98M	1.13M	3.22M	3.2M	3.08M	3.39M
Other Income/Expense	-795K	859K	-2.19M	-1.86M	15.47M	-3.09M	-3.25M	-3M	4.88M
Pretax Income	-8.23M▲ 0%	-24.21M▼ 194.2%	-4.55M▲ 81.2%	-1.44M▲ 68.4%	2.87M▲ 299.6%	-9.7M▼ 437.6%	7.89M▲ 181.4%	1.23M▼ 84.5%	5.33M▲ 334.7%
Pretax Margin %	-5.61%	-19.31%	-2.55%	-0.73%	1.97%	-5.48%	3.88%	0.86%	3.37%
Income Tax	-5.04M	-205K	38K	48K	25K	35K	241K	74K	87K
Effective Tax Rate %	61.32%	0.85%	-0.84%	-3.34%	0.87%	-0.36%	3.05%	6.04%	1.63%
Net Income	-3.64M▲ 0%	-24.15M▼ 563.2%	-4.52M▲ 81.3%	-1.49M▲ 67.1%	2.85M▲ 291.5%	-9.73M▼ 441.8%	7.65M▲ 178.6%	1.15M▼ 84.9%	5.24M▲ 355.0%
Net Margin %	-2.48%	-19.26%	-2.54%	-0.75%	1.96%	-5.5%	3.76%	0.8%	3.32%
Net Income Growth %	-1241.38%	-563.17%	81.27%	67.12%	291.46%	-441.76%	178.61%	-84.94%	355.03%
Net Income (Continuing)	-3.18M	-24M	-4.59M	-1.49M	2.85M	-9.73M	7.65M	1.15M	5.24M
Discontinued Operations	0	0	63K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-0.24▲ 0%	-1.56▼ 550.0%	-0.28▲ 82.1%	-0.09▲ 68.3%	0.15▲ 268.9%	-0.48▼ 420.0%	0.36▲ 175.0%	0.05▼ 85.4%	0.23▲ 338.9%
EPS Growth %	-1300%	-550%	82.05%	68.29%	268.92%	-420%	175%	-85.44%	338.93%
EPS (Basic)	-0.24	-1.56	-0.28	-0.09	0.15	-0.48	0.36	0.05	0.23
Diluted Shares Outstanding	15.05M	15.47M	16.13M	16.75M	19.39M	20.3M	21.49M	21.98M	22.98M
Basic Shares Outstanding	15.05M	15.47M	16.13M	16.75M	18.73M	20.3M	21.19M	21.9M	22.87M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

BWEN Balance Sheet

Broadwind, Inc. (BWEN) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Current Assets	35.38M	43.08M	54.71M	50.59M	52.33M	79.26M	69.75M	66.87M	64.27M
Cash & Short-Term Investments	78K	1.18M	2.42M	3.37M	852K	12.73M	1.1M	7.72M	456K
Cash Only	78K	1.18M	2.42M	3.37M	852K	12.73M	1.1M	7.72M	456K
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	13.64M	17.45M	18.31M	17.59M	15.44M	18.97M	27.74M	13.45M	19.3M
Days Sales Outstanding	33.93	50.81	37.5	32.34	38.69	39.18	49.76	34.31	44.57
Inventory	19.28M	22.67M	31.86M	26.72M	33.38M	44.26M	37.41M	39.95M	42.01M
Days Inventory Outstanding	50.76	67.65	71.43	54.04	86.95	97.29	79.86	119.57	108.04
Other Current Assets	580K	1.78M	0	0	0	3.29M	3.5M	5.74M	2.5M
Total Non-Current Assets	76.97M	56.09M	68.15M	69.09M	65.72M	65.28M	65.41M	61.42M	52.54M
Property, Plant & Equipment	55.69M	49.09M	62.92M	64.52M	61.68M	61.72M	62.72M	59.41M	51.36M
Fixed Asset Turnover	2.64x	2.55x	2.83x	3.08x	2.36x	2.86x	3.24x	2.41x	3.08x
Goodwill	4.99M	0	0	0	0	0	0	0	0
Intangible Assets	16.08M	6.6M	4.92M	4.19M	3.45M	2.73M	2.06M	1.4M	741K
Long-Term Investments	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	207K	398K	314K	385K	585K	839K	630K	606K	441K
Total Assets	112.35M▲ 0%	99.17M▼ 11.7%	122.87M▲ 23.9%	119.68M▼ 2.6%	118.05M▼ 1.4%	144.54M▲ 22.4%	135.16M▼ 6.5%	128.29M▼ 5.1%	116.81M▼ 9.0%
Asset Turnover	1.31x	1.26x	1.45x	1.66x	1.23x	1.22x	1.51x	1.12x	1.35x
Asset Growth %	-4.51%	-11.74%	23.9%	-2.59%	-1.37%	22.44%	-6.49%	-5.08%	-8.95%
Total Current Liabilities	40.98M	51.85M	64.29M	47.97M	42.68M	70.18M	53.61M	43.56M	31.68M
Accounts Payable	11.76M	11.62M	21.88M	18.18M	16.46M	26.25M	20.73M	16.08M	17.36M
Days Payables Outstanding	30.95	34.67	49.04	36.76	42.89	57.71	44.25	48.13	44.64
Short-Term Debt	15.01M	12.9M	12.92M	1.41M	6.65M	1.17M	5.9M	5.83M	9.45M
Deferred Revenue (Current)	9.79M	23.51M	22.72M	18.82M	12.08M	34.55M	16.5M	18.04M	2.69M
Other Current Liabilities	1.86M	674K	980K	909K	661K	1.16M	12K	-3.89M	2.18M
Current Ratio	0.86x	0.83x	0.85x	1.05x	1.23x	1.13x	1.30x	1.54x	2.03x
Quick Ratio	0.39x	0.39x	0.36x	0.50x	0.44x	0.50x	0.60x	0.62x	0.70x
Cash Conversion Cycle	53.74	83.79	59.89	49.62	82.75	78.76	85.37	105.75	107.97
Total Non-Current Liabilities	5.29M	3.95M	17.81M	31.05M	21.23M	28.09M	25.52M	25.33M	18.83M
Long-Term Debt	797K	1.41M	505K	9.38M	177K	7.14M	6.25M	7.74M	5.09M
Capital Lease Obligations	941K	571K	17.26M	21.57M	20.89M	20.92M	19.26M	17.58M	13.73M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	3.56M	1.97M	44K	104K	167K	26K	15K	15K	4K
Total Liabilities	46.28M	55.8M	82.11M	79.02M	63.91M	98.27M	79.14M	68.89M	50.52M
Total Debt	17.51M	14.88M	32.56M	35.61M	31.55M	33.12M	35.42M	35.53M	28.28M
Net Debt	17.44M	13.7M	30.14M	32.24M	30.7M	20.39M	34.32M	27.81M	27.82M
Debt / Equity	0.27x	0.34x	0.80x	0.88x	0.58x	0.72x	0.63x	0.60x	0.43x
Debt / EBITDA	11.18x	-	6.33x	5.31x	-	-	2.02x	3.26x	4.18x
Net Debt / EBITDA	11.13x	-	5.86x	4.81x	-	-	1.96x	2.55x	4.12x
Interest Coverage	-9.31x	-16.76x	-1.02x	0.21x	-11.16x	-2.05x	3.48x	1.37x	0.13x
Total Equity	66.07M▲ 0%	43.36M▼ 34.4%	40.76M▼ 6.0%	40.66M▼ 0.2%	54.13M▲ 33.1%	46.27M▼ 14.5%	56.02M▲ 21.1%	59.4M▲ 6.0%	66.29M▲ 11.6%
Equity Growth %	-3.66%	-34.37%	-6%	-0.24%	33.13%	-14.52%	21.06%	6.04%	11.6%
Book Value per Share	4.39	2.80	2.53	2.43	2.79	2.28	2.61	2.70	2.88
Total Shareholders' Equity	66.07M	43.36M	40.76M	40.66M	54.13M	46.27M	56.02M	59.4M	66.29M
Common Stock	15K	16K	17K	17K	20K	21K	22K	23K	24K
Retained Earnings	-312.11M	-336.25M	-340.78M	-342.26M	-339.42M	-349.15M	-341.5M	-340.35M	-335.1M
Treasury Stock	-1.84M	-1.84M	-1.84M	-1.84M	-1.84M	-1.84M	-1.84M	-1.84M	-1.84M
Accumulated OCI	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0

BWEN Cash Flow Statement

Broadwind, Inc. (BWEN) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	-9.35M	2.04M	4.52M	5.33M	-12.83M	16.64M	-6.95M	13.81M	-15.38M
Operating CF Margin %	-6.37%	1.63%	2.54%	2.69%	-8.81%	9.42%	-3.41%	9.65%	-9.73%
Operating CF Growth %	-154.05%	121.87%	121.08%	17.89%	-340.64%	229.76%	-141.74%	298.76%	-211.44%
Net Income	-3.18M	-24M	-4.59M	-1.49M	2.85M	-9.73M	7.65M	1.15M	5.24M
Depreciation & Amortization	9M	9.18M	7.5M	6.28M	6.34M	6.06M	6.38M	6.68M	6.31M
Stock-Based Compensation	1.13M	803K	1.96M	1.29M	2.73M	2.19M	2.21M	2.36M	638K
Deferred Taxes	-5.04M	-307K	-30K	-4K	-2K	-13K	-10K	0	-10K
Other Non-Cash Items	-1.29M	9.73M	-66K	513K	-9.59M	-54K	124K	-119K	-6.83M
Working Capital Changes	-9.96M	6.64M	-250K	-1.27M	-15.15M	18.19M	-23.3M	3.73M	-20.73M
Change in Receivables	884K	-3.78M	-792K	374K	2.58M	-3.51M	-8.85M	10.92M	-2.58M
Change in Inventory	7.06M	-2.94M	-9.19M	5.14M	-6.65M	-10.88M	6.86M	-2.54M	-2.48M
Change in Payables	-5.29M	801K	9.77M	-3.32M	-1.74M	9.93M	-6.01M	-4.39M	1.36M
Cash from Investing	-19.89M	-1.65M	-1.84M	-1.55M	-1.67M	-3.1M	-6.38M	-3.46M	8.89M
Capital Expenditures	-6.69M	-2.32M	-1.84M	-1.55M	-1.71M	-3.1M	-6.41M	-3.62M	-3.63M
CapEx % of Revenue	4.56%	1.85%	1.03%	0.78%	1.17%	1.75%	3.15%	2.53%	2.3%
Acquisitions	-16.45M	676K	1K	0	0	0	0	0	12.52M
Investments	-	-	-	-	-	-	-	-	-
Other Investing	72K	676K	0	0	33K	0	21K	159K	0
Cash from Financing	10.66M	807K	-1.44M	-2.83M	11.98M	-1.67M	1.7M	-3.73M	-772K
Debt Issued (Net)	10.66M	859K	-1.44M	-2.92M	4.09M	-1.35M	2.48M	-3.58M	-516K
Equity Issued (Net)	0	-52K	0	93K	1000K	230K	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	0	-52K	0	-139K	-1.42M	0	0	0	0
Other Financing	0	0	0	0	0	-549K	-783K	-150K	-256K
Net Change in Cash	-18.66M▲ 0%	1.1M▲ 105.9%	1.24M▲ 12.7%	956K▼ 22.8%	-2.52M▼ 363.6%	11.88M▲ 571.4%	-11.63M▼ 197.9%	6.62M▲ 156.9%	-7.26M▼ 209.7%
Free Cash Flow	-16.04M▲ 0%	-279K▲ 98.3%	2.68M▲ 1059.5%	3.78M▲ 41.3%	-14.53M▼ 484.2%	13.54M▲ 193.2%	-13.35M▼ 198.6%	10.19M▲ 176.3%	-19.02M▼ 286.6%
FCF Margin %	-10.93%	-0.22%	1.5%	1.91%	-9.98%	7.66%	-6.56%	7.12%	-12.03%
FCF Growth %	-250.22%	98.26%	1059.5%	41.31%	-484.17%	193.2%	-198.57%	176.31%	-286.64%
FCF per Share	-1.07	-0.02	0.17	0.23	-0.75	0.67	-0.62	0.46	-0.83
FCF Conversion (FCF/Net Income)	2.57x	-0.08x	-1.00x	-3.58x	-4.51x	-1.71x	-0.91x	11.98x	-2.93x
Interest Paid	585K	1.17M	1.62M	1.45M	741K	0	2.07M	1.55M	0
Taxes Paid	44K	116K	49K	81K	102K	0	17K	192K	0

BWEN Key Ratios

Broadwind, Inc. (BWEN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	0.47%	-5.41%	-44.13%	-10.75%	-3.65%	6.01%	-19.38%	14.96%	2%	8.34%
Return on Invested Capital (ROIC)	2.37%	-8.11%	-26.75%	-2.76%	0.44%	-11.98%	-6.54%	10.64%	3.57%	0.37%
Gross Margin	10.03%	5.56%	2.44%	8.65%	9.07%	3.78%	6.06%	15.98%	14.8%	10.21%
Net Margin	0.18%	-2.48%	-19.26%	-2.54%	-0.75%	1.96%	-5.5%	3.76%	0.8%	3.32%
Debt / Equity	0.06x	0.27x	0.34x	0.80x	0.88x	0.58x	0.72x	0.63x	0.60x	0.43x
Interest Coverage	3.05x	-9.31x	-16.76x	-1.02x	0.21x	-11.16x	-2.05x	3.48x	1.37x	0.13x
FCF Conversion	54.23x	2.57x	-0.08x	-1.00x	-3.58x	-4.51x	-1.71x	-0.91x	11.98x	-2.93x
Revenue Growth	-9.2%	-18.83%	-14.58%	42.14%	11.38%	-26.64%	21.38%	15.12%	-29.65%	10.42%

BWEN Frequently Asked Questions

Broadwind, Inc. (BWEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Broadwind, Inc. (BWEN) reported $158.1M in revenue for fiscal year 2025.

Broadwind, Inc. (BWEN) grew revenue by 10.4% over the past year. This is steady growth.

Yes, Broadwind, Inc. (BWEN) is profitable, generating $5.2M in net income for fiscal year 2025 (3.3% net margin).

Dividend & Returns

Broadwind, Inc. (BWEN) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Broadwind, Inc. (BWEN) had negative free cash flow of $19.0M in fiscal year 2025, likely due to heavy capital investments.

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