How does Babcock & Wilcox Enterprises (BW) make money?

Babcock & Wilcox Enterprises (BW) generates revenue primarily from B&W Thermal Segment, which accounted for 75.9% of total revenue in TTM through Q1 2026. The company reported $668M in revenue and converted -19.3% of it into net profit, equivalent to roughly -$129M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Babcock & Wilcox Enterprises (BW)?

Babcock & Wilcox Enterprises (BW) reported a gross profit margin of 24.7% in TTM through Q1 2026, equivalent to $165M in gross profit on $668M in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Babcock & Wilcox Enterprises (BW)?

Babcock & Wilcox Enterprises (BW) reported an operating profit margin of 4.2% in TTM through Q1 2026, equivalent to $28.2M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Babcock & Wilcox Enterprises (BW)?

Babcock & Wilcox Enterprises (BW) reported a net profit margin of -19.3% in TTM through Q1 2026, equivalent to -$129M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Babcock & Wilcox Enterprises (BW) profitable?

Babcock & Wilcox Enterprises (BW) reported a net loss of $129M for TTM through Q1 2026, a net profit margin of -19.3%. Combined operating expenses, interest, and income taxes exceeded revenue, so the period closed in the red on a reported basis.

How much does Babcock & Wilcox Enterprises (BW) invest in research and development?

Babcock & Wilcox Enterprises (BW) invested $1.95M in research and development during TTM through Q1 2026, roughly 0.3% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Babcock & Wilcox Enterprises (BW) spend on capital expenditures?

Babcock & Wilcox Enterprises (BW) spent $19.6M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 2.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Babcock & Wilcox Enterprises (BW) generate?

Babcock & Wilcox Enterprises (BW) generated -$62.2M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -9.3%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of Babcock & Wilcox Enterprises (BW)?

Babcock & Wilcox Enterprises (BW) reports revenue across 3 reportable product segments, led by B&W Thermal Segment at 75.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Babcock & Wilcox Enterprises Makes Money: 2026 Visual Revenue Map

Babcock & Wilcox Enterprises (BW) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 11, 2026).

Babcock & Wilcox Enterprises discloses geographic revenue only in annual filings. to view the full breakdown.

Babcock & Wilcox Enterprises (BW) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Babcock & Wilcox Enterprises (BW), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
B&W Thermal Segment	$508M	75.9%
B&W Environmental Segment	$82.9M	12.4%
B&W Renewable Segment	$77.9M	11.7%
Total	$668M	100%

B&W Thermal Segment$508M
B&W Environmental Segment$82.9M
B&W Renewable Segment$77.9M
Total$668M

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Babcock & Wilcox Enterprises (BW) reports revenue across 3 reportable product segments; the largest segment was B&W Thermal Segment at 75.9%, followed by B&W Environmental Segment (12.4%) and B&W Renewable Segment (11.7%).

Frequently asked questions

Data & methodology

Babcock & Wilcox Enterprises (BW) Key Financials

Charts, filings, and peer comparison for every metric

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

BW Overview

Counters

Income Statement

Cash Flow

Capital Return

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

Forecast & Valuation