Is Babcock & Wilcox Enterprises going out of business?

Babcock & Wilcox Enterprises, Inc. (BWNB) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

Babcock & Wilcox Enterprises, Inc. (BWNB) scores 21 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: ROE quality: -31.99%

Five questions, kept separate

Survival - Fragile

35+ mo of estimated runway from 2026-06-30, based on $309M of cash and short-term investments against $88.4M of annual burn. A disclosed filing event caps this reading; Event Risk carries the detail.

Business quality - Weak

2.1% operating margin and -11.1% FCF margin produce a weak Business Quality assessment.

Trajectory - Accelerating

Revenue, operating margin and cash margin improved together. Revenue improved 57.3%; operating margin improved 4.7pp; FCF margin improved 25.2pp. The TTM window includes a mixed-basis Q4 estimate.

Valuation - Evidence incomplete

A positive current market capitalization is unavailable, so price-to-fundamentals evidence cannot be computed.

Event risk - Critical event risk

Going-Concern Warning is the decisive filing event; one adverse event family is active. It appears across 2 scanned filings. Favorable events are shown separately and do not offset adverse risk.

What the rules read

• Debt / Equity: -3.41x (Net Cash)
• ROE quality: -31.99%
• ROIC: -10.74%
• Filing event risk: Going-Concern Warning (-8 pts)
• FCF margin: -11.09%
• Shares dilution YoY: 40.42% (YoY)
• Asset Efficiency: 0.80x
• Net income trend: 124.37% (Loss narrowing)
• Revenue CAGR (3Y): -1.20%
• Revenue growth YoY: 130.25% (Industrial YoY) - Growth from a low base; sustainability uncertain.
• Gross margin (industrial): 14.59%
• Return on Assets: -1.84%

Read from filings through 2026-09-08.

Price as of 2025-12-22.