Latest Ratios: P/E Ratio 29.3x · EV/EBITDA 24.8x · ROE 28.5%. (2008–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.9B | $15.9B | $10.2B | $7.0B | $5.3B | $4.5B | $5.8B | $5.9B | $3.8B | $6.1B | $4.1B |
| Enterprise Value | $12.5B | $17.4B | $11.2B | $8.2B | $6.6B | $5.7B | $6.7B | $6.7B | $4.6B | $6.4B | $4.5B |
| P/E Ratio → | 29.33 | 48.14 | 36.28 | 28.63 | 22.34 | 14.78 | 20.71 | 24.35 | 16.84 | 41.15 | 22.56 |
| P/S Ratio | 3.04 | 4.96 | 3.78 | 2.82 | 2.39 | 2.13 | 2.72 | 3.14 | 2.12 | 3.60 | 2.66 |
| P/B Ratio | 8.90 | 12.87 | 9.47 | 7.55 | 7.12 | 7.10 | 9.34 | 14.72 | 16.22 | 21.25 | 27.41 |
| P/FCF | 29.41 | 53.77 | 40.16 | 33.19 | 114.81 | 60.36 | — | 61.16 | 63.78 | 48.46 | 22.02 |
| P/OCF | 22.82 | 33.09 | 25.05 | 19.38 | 21.77 | 11.72 | 29.37 | 21.29 | 22.59 | 27.33 | 17.19 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.44 | 4.15 | 3.28 | 2.95 | 2.67 | 3.15 | 3.53 | 2.53 | 3.78 | 2.92 |
| EV / EBITDA | 24.79 | 40.21 | 24.04 | 17.73 | 15.58 | 13.69 | 15.93 | 17.26 | 12.50 | 18.28 | 15.87 |
| EV / EBIT | 38.56 | 39.31 | 28.89 | 22.21 | 18.76 | 13.17 | 16.99 | 19.15 | 14.81 | 20.53 | 17.02 |
| EV / FCF | — | 58.89 | 44.01 | 38.53 | 141.83 | 75.77 | — | 68.75 | 76.09 | 50.90 | 24.15 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.9% | 22.9% | 24.2% | 24.9% | 24.7% | 25.9% | 27.1% | 28.2% | 28.0% | 30.6% | 30.7% |
| Operating Margin | 10.1% | 10.1% | 14.1% | 15.3% | 15.6% | 16.3% | 16.9% | 17.2% | 16.9% | 17.3% | 15.1% |
| Net Profit Margin | 10.3% | 10.3% | 10.4% | 9.8% | 10.7% | 14.4% | 13.1% | 12.9% | 12.6% | 8.8% | 11.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.5% | 28.5% | 28.0% | 29.2% | 34.4% | 48.7% | 54.5% | 76.3% | 87.0% | 67.8% | 85.1% |
| ROA | 9.2% | 9.2% | 10.0% | 9.2% | 9.3% | 12.8% | 13.3% | 13.7% | 13.5% | 9.0% | 12.4% |
| ROIC | 10.1% | 10.1% | 13.8% | 14.1% | 13.8% | 15.6% | 20.2% | 23.1% | 29.2% | 38.4% | 36.1% |
| ROCE | 10.8% | 10.8% | 16.0% | 16.6% | 16.2% | 18.2% | 21.9% | 23.4% | 24.8% | 25.1% | 21.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.63 | 1.63 | 0.98 | 1.30 | 1.72 | 1.87 | 1.54 | 2.04 | 3.26 | 1.78 | 3.49 |
| Debt / EBITDA | 4.66 | 4.66 | 2.26 | 2.62 | 3.05 | 2.87 | 2.27 | 2.13 | 2.10 | 1.46 | 1.84 |
| Net Debt / Equity | — | 1.23 | 0.91 | 1.21 | 1.68 | 1.81 | 1.47 | 1.83 | 3.13 | 1.07 | 2.66 |
| Net Debt / EBITDA | 3.50 | 3.50 | 2.10 | 2.46 | 2.97 | 2.78 | 2.17 | 1.90 | 2.02 | 0.88 | 1.40 |
| Debt / FCF | — | 5.12 | 3.85 | 5.34 | 27.02 | 15.41 | — | 7.59 | 12.31 | 2.44 | 2.13 |
| Interest Coverage | 10.01 | 10.01 | 9.83 | 7.83 | 9.63 | 12.07 | 12.68 | 9.88 | 11.07 | 20.88 | 31.65 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.32 | 2.32 | 1.96 | 2.18 | 2.10 | 1.68 | 1.46 | 1.56 | 1.44 | 1.65 | 1.58 |
| Quick Ratio | 2.25 | 2.25 | 1.88 | 2.11 | 2.09 | 1.68 | 1.45 | 1.55 | 1.43 | 1.64 | 1.56 |
| Cash Ratio | 0.75 | 0.75 | 0.16 | 0.21 | 0.11 | 0.08 | 0.09 | 0.23 | 0.09 | 0.39 | 0.32 |
| Asset Turnover | — | 0.75 | 0.94 | 0.91 | 0.85 | 0.85 | 0.93 | 0.99 | 1.09 | 0.99 | 0.98 |
| Inventory Turnover | 53.01 | 53.01 | 50.83 | 68.46 | 574.08 | 543.44 | 504.27 | 445.37 | 338.00 | 164.79 | 175.29 |
| Days Sales Outstanding | — | 107.83 | 103.10 | 98.67 | 110.28 | 117.78 | 116.87 | 94.93 | 93.54 | 136.08 | 121.93 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.6% | 0.9% | 1.2% | 1.5% | 1.8% | 1.3% | 1.1% | 1.7% | 0.7% | 0.9% |
| Payout Ratio | 28.0% | 28.0% | 31.3% | 34.6% | 34.0% | 26.0% | 26.2% | 26.8% | 28.1% | 28.4% | 20.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 2.1% | 2.8% | 3.5% | 4.5% | 6.8% | 4.8% | 4.1% | 5.9% | 2.4% | 4.4% |
| FCF Yield | 3.4% | 1.9% | 2.5% | 3.0% | 0.9% | 1.7% | — | 1.6% | 1.6% | 2.1% | 4.5% |
| Buyback Yield | 0.3% | 0.2% | 0.2% | 0.1% | 0.4% | 5.0% | 0.4% | 0.3% | 5.6% | 0.0% | 7.1% |
| Total Shareholder Yield | 1.1% | 0.8% | 1.1% | 1.3% | 1.9% | 6.7% | 1.6% | 1.4% | 7.3% | 0.7% | 8.0% |
| Shares Outstanding | — | $92M | $92M | $92M | $92M | $95M | $96M | $96M | $100M | $100M | $104M |
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying BWXT stock.
BWX Technologies, Inc.'s current P/E ratio is 29.3x. The historical average is 27.6x. This places it at the 75th percentile of its historical range.
BWX Technologies, Inc.'s current EV/EBITDA is 24.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
BWX Technologies, Inc.'s return on equity (ROE) is 28.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 42.4%.
Based on historical data, BWX Technologies, Inc. is trading at a P/E of 29.3x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BWX Technologies, Inc.'s current dividend yield is 0.84% with a payout ratio of 28.0%.
BWX Technologies, Inc. has 22.9% gross margin and 10.1% operating margin. Operating margin between 10-20% is typical for established companies.
BWX Technologies, Inc.'s Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Government program timing and leverage opacity
Metrics are mathematically derived from official filings.
Premium Multiples Price in Nuclear Growth
As reported in the supplied valuation data, BWXT trades at 32.02x trailing earnings and 27.85x trailing EV/EBITDA, narrowing to 24.24x forward P/E and 16.08x forward EV/EBITDA, implying meaningful expected earnings growth ahead.
The gap between trailing and forward multiples suggests the market is capitalizing projected earnings expansion rather than current run-rate profitability. Relative to the defense peer set, BWXT's trailing P/E sits between Curtiss-Wright at 33.71x and CACI at 25.02x, which indicates the premium is broadly in line with the nuclear-growth narrative rather than an outlier. The PEG of 7.47 appears elevated and warrants caution, since it implies the growth assumptions embedded in the price may be demanding relative to recent quarterly earnings volatility.
Margins Recovering but Below Prior Peak
Based on the quarterly ratio series, BWXT's gross margin recovered from 21.0% in 2025Q4 to 23.8% in 2026Q3, approaching but not yet matching the 24.4% to 25.1% range seen in 2024 and mid-2025.
The recovery in gross margin suggests cost control and contract mix are improving, though the operating margin of 13.9% in the latest quarter remains close to the 14.2% peak from 2025Q1 rather than showing clear expansion. Net margin of 10.7% versus operating margin of 13.9% indicates a meaningful below-the-line drag that investors should monitor for recurring versus one-time components. Earnings power appears more reliably captured by operating margin than net margin given the volatility in non-operating items.
Returns Thin Against Expanded Asset Base
BWXT's ROIC stepped down from 3.5% in 2024Q3 to 2.3% in 2026Q1 before recovering to 3.5% in 2026Q3, while ROE held in a narrow 6.6% to 7.5% band across the ten quarters reported.
The low ROIC relative to a rising asset base suggests that recent capital deployment has not yet translated into proportionate returns, consistent with the balance sheet expansion from $2.8B to $4.8B in total assets. ROE stability alongside lower ROIC appears to indicate that leverage is supporting equity returns more than operating efficiency is. Investors should watch whether the latest ROIC recovery is sustained as newer investments mature.
Debt Rising Against Coverage Improvement
Based on reported figures, BWXT's debt-to-equity ratio climbed to 1.63 in 2025Q4 before easing to 1.43 in 2026Q3, while interest coverage improved from 9.20x to 26.82x over the same period.
The coverage improvement appears to reflect both higher operating income and lower interest burden relative to earnings, which reduces near-term debt service pressure. However, debt-to-EBITDA of 12.21x in the latest quarter remains elevated, suggesting that the reported D/E figure may understate leverage relative to earnings capacity. The relatively low D/E ratio for a capital-intensive manufacturer warrants verification before relying on it as the primary leverage signal.
Liquidity Normalizing From Elevated Levels
BWXT's current ratio fell from 2.40 in 2026Q2 to 1.88 in 2026Q3 and quick ratio from 2.33 to 1.84, reflecting a retreat from elevated but still adequate liquidity cover.
The decline in current and quick ratios is consistent with working capital normalization and an increase in current liabilities relative to liquid assets. Quick ratios remaining close to current ratios indicate that inventory dependence is limited, which supports the liquidity position under stress. The position appears adequate, though the trend is worth tracking given the quarterly volatility in cash holdings.
Reported Leverage May Understate Obligations
Based on the supplied data, the reported 1.63 debt-to-equity figure is unusually low for a capital-intensive defense manufacturer, suggesting the headline leverage ratio may not capture the full scope of fixed financial commitments.
Debt-to-EBITDA of 12.21x alongside a D/E of 1.43 implies that leverage looks modest on a balance-sheet basis but heavy on an earnings basis, a divergence that warrants further investigation. Investors should monitor whether the reported debt figures fully reflect pension and other long-dated obligations before treating coverage ratios as a sufficient measure of resilience. Relying on interest coverage alone could overstate financial flexibility if program timing slips and cash generation normalizes.