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Auto-parts supplier making powertrain components (turbochargers, transmissions) plus a growing line of EV motors, inverters and battery systems.
Auto-parts supplier making powertrain components (turbochargers, transmissions) plus a growing line of EV motors, inverters and battery systems.
Sells parts under multi-year supply programs won years before a vehicle launches, so its volumes follow its customers' production. Combustion-engine products such as turbochargers still carry the company while electric-drive sales build. It spun off its fuel-injection business as Phinia in 2023 to concentrate on electrification.
Moat: narrow (process know-how, customer qualification, IP / patents). Long-cycle OEM qualification and engineering expertise in turbo/EV powertrain create switching costs.
Headquarters: Auburn Hills, Michigan, USA · Founded: 1928 · Employees: 37,500
Size BorgWarner (BWA) is a United States Consumer Discretionary company (Trucks/Construction/Farm Machinery) with a market value of $9.80B, the 788th largest of 3,117 United States companies the cockpit tracks. Shares closed at $48.81 on 6 Nov 2026.
Performance Over six months the shares fell 20.4%, against -0.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 0.4% over the last twelve months (peer median +5.1%); the operating margin is 10.5% (peer median 11.1%).
Valuation It trades at 8.7× forward earnings against a peer median of 16.6× (cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.9 points above its cost of capital (9.5% WACC).
Credit BorgWarner has 5 bonds outstanding ($2.97B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 106 bp.
Short interest Short interest is 3.3% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $14.2B | $14.3B | $14.1B | $14.2B | $12.6B |
| Revenue growth | — | +2% | -1% | +12% | — |
| Gross profit | $2.79B | $2.68B | $2.61B | $2.57B | $2.37B |
| EBITDA | $2.11B | $2.10B | $1.93B | $1.81B | $1.61B |
| Net income | $478M | $277M | $338M | $625M | $944M |
| Free cash flow | $1.15B | $1.18B | $681M | $477M | $948M |
| Capital expenditure | $526M | $469M | $671M | $832M | $622M |
| Total debt | $3.20B | $4.06B | $4.34B | $3.93B | $4.31B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| BorgWarner BWA | $9.80B | -20% | 0% | 11% | 8.7× | -3.2% |
| Aptiv APTV | $7.98B | -32% | -5% | 10% | 6.8× | -6.8% |
| Magna International MG.TO | $16.1B | +4% | 0% | 6% | 8.2× | 0.1% |
| Denso 6902.T | $32.5B | -1% | +7% | 7% | 12.1× | 3.4% |
| Valeo FR.PA | $3.00B | -15% | -2% | 4% | 7.3× | -8.2% |
| Continental CON.DE | $15.8B | +2% | -35% | n/a | 12.1× | -0.2% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BWA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.9% | +8.5% | 2nd lowest of 21 |
| 6-month return | -20.4% | -0.5% | 2nd lowest of 21 |
| Distance from 52-week high | -38.1% | -19.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | +0.4% | +5.1% | 3rd lowest of 21 |
| Operating margin | 10.5% | 11.1% | 10th lowest of 21 |
| Forward P/E | 8.7× | 16.6× | cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -3.2% | 4.7% | 3rd least demanding of 18 |
| Growth delivered (Del g) | +7.1% | +7.7% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | -10.2 pp | -2.5 pp | 5th least demanding of 18 |
| ROIC minus cost of capital | +5.9 pp | +5.2 pp | 11th highest of 21 |
| EV / EBITDA | 5.5× | 9.7× | cheapest of 19 |
| Net debt / EBITDA | 0.8× | 2.0× | 4th least indebted of 20 |
| Bond spread | 106 bp | 133 bp | 4th tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| BorgWarner BWA | United States | $9.80B | -20% | 0% | 11% | 8.7× | -3.2% | +7.1% |
| Donaldson DCI | United States | $9.77B | -2% | +5% | 16% | 19.5× | 8.3% | +6.4% |
| Allison Transmission ALSN | United States | $9.65B | -6% | +71% | 20% | 11.0× | 2.6% | +7.7% |
| Service Corporation International SCI | United States | $10.0B | -5% | +3% | 22% | 17.5× | 3.4% | +4.2% |
| Murphy USA MUSA | United States | $9.45B | -10% | +20% | 4% | 17.5× | -9.4% | +11.5% |
| Dillard's DDS | United States | $9.41B | +7% | 0% | 11% | 17.4× | 1.6% | +8.2% |
| Life Time LTH | United States | $10.6B | +48% | +13% | 17% | 26.7× | n/a | n/a |
| Chewy CHWY | United States | $9.07B | -2% | +6% | 3% | 24.1× | 16.8% | +12.0% |
| Aurora Innovation AUR | United States | $8.91B | -38% | +250% | -14,357% | n/a | n/a | n/a |
| Autoliv ALV | United States | $8.89B | +2% | +4% | 10% | 11.0× | 2.6% | +7.7% |
| Levi Strauss & LEVI | United States | $8.77B | +1% | +5% | 13% | 14.6× | 5.2% | +7.1% |
| Mohawk Industries MHK | United States | $8.75B | +45% | +4% | 7% | 16.5× | 6.4% | +2.5% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |
| Victoria's Secret & VSXY | United States | $8.62B | +125% | +10% | 8% | 21.4× | 20.0% | +3.9% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Wynn Resorts WYNN | United States | $8.56B | -19% | +6% | 16% | 20.8× | 1.7% | +27.8% |
| Deckers Brands DECK | United States | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% | +16.5% |
| Norwegian Cruise Line NCLH | United States | $8.23B | +5% | +5% | 14% | 13.8× | n/a | n/a |
| Oshkosh OSK | United States | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% | +8.7% |
| MGM Resorts MGM | United States | $8.18B | -17% | +3% | 6% | 24.0× | 16.0% | +27.7% |
| V.F VFC | United States | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% | +0.8% |
BorgWarner has 5 bonds outstanding with $2.97B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 4.84%, a spread of 106 bp over government bonds.