Bwx Technologies Inc (BWXT)
NYSE:BWXT
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BWX Technologies
(NYSE:BWXT)
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Rating:68Neutral
Price Target:
$224.00
â–¼(-5.00% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by solid underlying financial performance and a strongly positive earnings call with raised guidance and sharply higher backlog. These strengths are tempered by high leverage and margin drift, weak near-term technical momentum, and a premium valuation with a low dividend yield.
Positive Factors
Large, multi-year government backlog
A $8.7B backlog largely tied to naval and government programs provides multi-year revenue visibility and reduces near-term demand cyclicality. That contracted pipeline supports throughput planning, sustainment work, and underpins investment in capacity with predictable cash flow over several years.
Negative Factors
Elevated leverage and debt levels
Meaningful leverage limits balance-sheet flexibility and raises refinancing and interest-rate risk if project timelines slip. High debt increases sensitivity to working-capital swings and could constrain funding for greenfield builds or sizable equity-like investments without raising new capital or slowing deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Large, multi-year government backlog
A $8.7B backlog largely tied to naval and government programs provides multi-year revenue visibility and reduces near-term demand cyclicality. That contracted pipeline supports throughput planning, sustainment work, and underpins investment in capacity with predictable cash flow over several years.
Read all positive factors
BWX Technologies (BWXT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.50B
Dividend Yield0.56%
Average Volume (3M)1.02M
Price to Earnings (P/E)51.4
Beta (1Y)1.04
Revenue Growth21.39%
EPS Growth19.25%
CountryUS
Employees8,700
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)3.77
Shares Outstanding91,614,650
10 Day Avg. Volume1,152,927
30 Day Avg. Volume1,021,723
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 Cap1.08
Enterprise Value/Revenue5.94
Enterprise Value/Gross Profit26.26
Enterprise Value/Ebitda36.98
Forecast
1Y Price Target
$236.67Price Target Upside0.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)4.7
Revenue Forecast (FY)$3.78B
BWX Technologies Business Overview & Revenue Model
Company Description
BWX Technologies, Inc. manufactures and sells nuclear components in the United States, Canada, and internationally. It operates in three segments: Nuclear Operations Group, Nuclear Power Group, and Nuclear Services Group. The Nuclear Operations Gr...
How the Company Makes Money
BWXT primarily makes money through long-term, government-funded contracts to manufacture and support nuclear propulsion and other nuclear-related systems, alongside revenues from commercial and specialty nuclear products and services.
Key revenue...
BWX Technologies Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call portrayed a strongly positive operating and financial performance driven by a commercial surge: 26% total revenue growth (11% organic), a 77% YoY increase in total backlog to $8.7B, sizeable commercial revenue and EBITDA acceleration, and upwardly revised full‑year guidance for EBITDA, revenue and free cash flow. Strategic actions (PCG acquisition, planned U.S. greenfield capacity, completed centrifuge development facility, TRISO production) position BWXT to capture growing defense and commercial nuclear demand. Key near‑term risks include modest Government segment growth, integration and ramp timelines for PCG and TRISO scale‑up, industry EPC/delivery risks on large reactor projects, and some timing volatility in commercial backlog. Overall, the positive growth, record backlog and strengthened guidance meaningfully outweigh the execution and scaling challenges highlighted.Positive Updates
Robust Top-Line Growth
Q1 revenue of $860 million, up 26% year-over-year with 11% organic growth, driven by improved throughput, favorable pacing of work and strong commercial operations.
Negative Updates
Modest Government Segment Growth
Government Operations revenue rose just 4% and adjusted EBITDA increased only 1% in the quarter, indicating more modest near‑term margin expansion in that segment compared with commercial strength.
Read all updates
Q1-2026 Updates
Positive
Negative
Robust Top-Line Growth
Q1 revenue of $860 million, up 26% year-over-year with 11% organic growth, driven by improved throughput, favorable pacing of work and strong commercial operations.
Read all positive updates
Company Guidance
BWXT reiterated 2026 targets: at least $3.75 billion of revenue (up high‑teens vs. 2025), adjusted EBITDA raised to $650–$665 million (up $5M at each end), non‑GAAP EPS of $4.60–$4.75 and free cash flow of $315–$330 million (supported by mid‑ to high‑teens operating cash‑flow growth). Segment guidance calls for Government Operations to grow low‑teens (with >50% of that from defense fuels and HPDU) and margins to exceed 19%, while Commercial Operations is expected to grow ~30% (low‑teens commercial power, high‑teens medical and a full year of Kinectrics contribution). They expect ~55% of full‑year EBITDA in H2, Q2 EBITDA roughly in line with to slightly below Q1, capex around 6% of sales (could rise toward ~7% for greenfield investments), an updated full‑year tax rate of <21.5% (Q1 was 15.8%), and noted PCG (2025 revenue ≈$125M, low‑double‑digit EBITDA margin, mid‑single‑digit 2026 revenue growth) will close in H2 and is not included in the guidance.BWX Technologies Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
57
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.38B | 3.20B | 2.70B | 2.50B | 2.23B | 2.12B |
| Gross Profit | 764.26M | 731.52M | 655.21M | 620.59M | 551.93M | 550.28M |
| EBITDA | 542.68M | 551.51M | 474.06M | 447.00M | 424.63M | 500.55M |
| Net Income | 344.67M | 329.86M | 281.94M | 245.85M | 238.19M | 305.87M |
Balance Sheet | ||||||
| Total Assets | 4.32B | 4.27B | 2.87B | 2.75B | 2.62B | 2.50B |
| Cash, Cash Equivalents and Short-Term Investments | 515.56M | 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 | 3.04B | 3.04B | 1.79B | 1.81B | 1.87B | 1.86B |
| Stockholders Equity | 1.28B | 1.23B | 1.08B | 933.35M | 748.31M | 637.17M |
Cash Flow | ||||||
| Free Cash Flow | 328.10M | 295.29M | 254.78M | 212.41M | 46.39M | 74.97M |
| Operating Cash Flow | 521.80M | 479.85M | 408.43M | 363.70M | 244.70M | 386.03M |
| Investing Cash Flow | -632.70M | -742.11M | -154.56M | -155.64M | -256.24M | -304.65M |
| Financing Cash Flow | 574.64M | 693.64M | -252.78M | -169.37M | 13.95M | -90.14M |
BWX Technologies Technical Analysis
Negative
235.78
Price Trends
213.21
Negative
206.60
Negative
193.76
Positive
Market Momentum
-4.06
Positive
38.71
Neutral
18.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BWXT, the sentiment is Negative. The current price of 235.78 is above the 20-day moving average (MA) of 211.97, above the 50-day MA of 213.21, and above the 200-day MA of 193.76, indicating a neutral trend. The MACD of -4.06 indicates Positive momentum. The RSI at 38.71 is Neutral, neither overbought nor oversold. The STOCH value of 18.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $92.79B | 21.10 | 17.41% | 1.73% | 9.35% | 10.49% | |
69 Neutral | $57.97B | 32.48 | 8.87% | 1.61% | 5.79% | 9.31% | |
68 Neutral | $18.50B | 51.39 | 27.91% | 0.56% | 21.39% | 19.25% | |
67 Neutral | $78.12B | 27.70 | 28.05% | 1.55% | 4.95% | 26.05% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $12.98B | 25.05 | 12.05% | 1.53% | 12.08% | 10.89% | |
59 Neutral | $121.81B | 23.12 | 74.53% | 2.77% | 4.59% | -10.76% |
* Industrials Sector Average
BWXT
BWX Technologies
197.33
90.40
84.53%
GD
General Dynamics
340.14
67.45
24.74%
LHX
L3Harris Technologies
308.15
79.48
34.76%
HII
Huntington Ingalls
324.60
105.31
48.03%
LMT
Lockheed Martin
526.63
68.86
15.04%
NOC
Northrop Grumman
556.34
89.94
19.28%
BWX Technologies Corporate Events
Executive/Board ChangesShareholder Meetings
BWX Technologies Shareholders Back Board, Pay and Auditor
Positive
May 5, 2026
At its April 30, 2026 annual meeting, BWX Technologies’ shareholders elected ten directors, including President and CEO Rex D. Geveden and other incumbent and new board members, each to serve a one-year term ending at the 2027 annual meeting...
Business Operations and StrategyExecutive/Board Changes
BWX Technologies Adds Veteran Director to Board for Growth
Positive
Feb 20, 2026
On February 18, 2026, BWX Technologies’ board of directors voted to expand its membership from nine to ten and appointed aerospace and defense veteran Dan Jablonsky as a director, effective March 2, 2026, with his initial term running throug...
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.