BWX Technologies, Inc.
ConvictionModerate
Cost-plus + fixed-price government defense/energy contracts (Naval Nuclear Propulsion Program prime supplier) plus commercial nuclear components, fuel handling, and isotope product sales; long-cycle, backlog-driven, recurring.
Revenue
$3.20B FY2025+18% YoY); $3.38B TTM through Q1 2026; FY2026 guide >$3.75BRev growth
+18% FY2025+26% YoY Q1 2026 (11% organicGross margin
not separately disclosedreported by segment op income); consolidated operating margin ~14%Op margin
~14% consolidatedGov Ops ~17% (Q1'26 $99.1M op income / $577.9M rev), Commercial ~8.5% (Q1'26 $24.0M / $283.6MCapex intensity
Elevated — multi-year growth capex for naval program capacityCambridge expansion) and a new Mount Vernon, Indiana greenfield (~2x Cambridge spend, 2–3 yr buildMarket cap
~$18.1BJun 2026Price · 1-year trend
real · weekly$186+37% 1yUSD
52-week range
$136 – $238
52w lowas of 2026-07-10 · Yahoo Finance52w high
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-02-23. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$2.1B
FY’22
$2.2B+5%
FY’23
$2.5B+12%
FY’24
$2.7B+8%
FY’25
$3.2B+18%
Margins & balance sheet — FY’25
Operating margin12.6%
Net margin10.3%
Net debt$1.5B
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for BWX Technologies, Inc.
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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