Babcock & Wilcox Enterprises reported $2.60B of remaining performance obligations at 30 Jun 2026, up 522% from a year earlier and down 4% from the previous quarter. That is 3.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.69.
Net new backlog added in the latest quarter: -$100M.
Over the last twelve months it turned about 137% of its opening backlog into revenue (12-month conversion).
The company reports 16% of the backlog due within the first 6 months.
Customer prepayments (contract liabilities) cover 3.1% of the backlog.
Twelve-month book-to-bill: 3.62, i.e. 3.62 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +471 points — orders are running ahead of revenue.
By backlog size it ranks 166th among US filers the cockpit tracks.
Babcock & Wilcox Enterprises backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2026
$2.60B
$834M
3.1 yrs
$81.5M
31 Mar 2026
$2.70B
$654M
4.1 yrs
$106M
31 Dec 2025
$424M
$588M
0.7 yrs
$112M
30 Sep 2025
$394M
$549M
0.7 yrs
$79.4M
30 Jun 2025
$418M
$553M
0.8 yrs
$59.1M
31 Mar 2025
$527M
$565M
0.9 yrs
$53.6M
31 Dec 2024
$540M
$581M
0.9 yrs
$57.8M
30 Sep 2024
$362M
n/a
n/a
$37.6M
30 Jun 2024
$472M
n/a
n/a
$60.6M
31 Mar 2024
$650M
n/a
n/a
$63.0M
31 Dec 2023
$644M
$587M
1.1 yrs
$60.3M
30 Sep 2023
$507M
n/a
n/a
$95.4M
Questions
What is Babcock & Wilcox Enterprises's backlog?
Babcock & Wilcox Enterprises reported $2.60B of remaining performance obligations at 30 Jun 2026, up 522% from a year earlier and down 4% from the previous quarter. That is 3.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.69.
How fast does Babcock & Wilcox Enterprises's backlog turn into revenue?
Over the last twelve months Babcock & Wilcox Enterprises recognised revenue equal to about 137% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.