What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Babcock & Wilcox Enterprises (BW) revenue becomes net income?

For TTM through Q1 2026, Babcock & Wilcox Enterprises turned $668.48M of revenue into −$128.90M of net income — a net margin of -19.3%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Babcock & Wilcox Enterprises (BW) gross, operating, and net margins?

For TTM through Q1 2026, Babcock & Wilcox Enterprises reported a gross margin of 24.7%, an operating margin of 4.2%, and a net margin of -19.3%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Babcock & Wilcox Enterprises (BW) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Babcock & Wilcox Enterprises (BW) Income Statement Waterfall

Revenue

$668.48M

Gross Margin

+24.7%

Operating Margin

+4.2%

Net Margin

-19.3%

Income statement waterfall for Babcock & Wilcox Enterprises (BW) — TTM through Q1 2026

Net income: −$128.90M

Margin breakdown for Babcock & Wilcox Enterprises (BW) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$668.48M	$668.48M
Cost of Revenue	−$503.34M	$165.14M
Gross Profit	$165.14M	$165.14M
Operating Expenses	−$136.90M	$28.24M
Operating Income	$28.24M	$28.24M
Other Income / Expense	−$109.19M	−$80.94M
Pre-tax Income	−$80.94M	−$80.94M
Income Tax	−$10.67M	−$91.62M
Other Items	−$37.28M	−$128.90M
Net Loss	−$128.90M	−$128.90M

Revenue$668.48M
Cost of Revenue−$503.34M
Gross Profit$165.14M
Operating Expenses−$136.90M
Operating Income$28.24M
Other Income / Expense−$109.19M
Pre-tax Income−$80.94M
Income Tax−$10.67M
Other Items−$37.28M
Net Loss−$128.90M

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Income statement waterfall for Babcock & Wilcox Enterprises (BW) — TTM through Q1 2026

Margin breakdown for Babcock & Wilcox Enterprises (BW) — TTM through Q1 2026

Frequently asked questions

+What is an income statement waterfall?

+How much of Babcock & Wilcox Enterprises (BW) revenue becomes net income?

+What are Babcock & Wilcox Enterprises (BW) gross, operating, and net margins?

+Why does Babcock & Wilcox Enterprises (BW) have such a high (or low) gross margin?

+What is the difference between gross, operating, and net margin?

Data & methodology

+What is this view?

+How to read this waterfall

+How is the data calculated?

+What is the USD toggle?

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