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Manufactures nuclear reactors and fuel for US Navy submarines and carriers, plus medical isotopes and government nuclear-site cleanup.
Manufactures nuclear reactors and fuel for US Navy submarines and carriers, plus medical isotopes and government nuclear-site cleanup.
Builds naval reactor components and fuel under long-term US government contracts, so revenue follows submarine and carrier build schedules. Buying Kinectrics in 2024 added inspection and servicing work for commercial reactors, mainly in Canada.
Moat: wide (regulatory licence, customer qualification, installed base). Sole qualified supplier of naval reactor fuel/components under multi-decade DOE/Navy contracts.
Headquarters: Lynchburg, Virginia, US · Founded: 2015 · Employees: 10,400
Size BWX Technologies (BWXT) is a United States Industrials company (Aerospace & Defense) with a market value of $11.0B, the 733rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $119.52 on 6 Nov 2026.
Performance Over six months the shares fell 41.8%, against -9.8% 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 17.7% over the last twelve months (peer median +16.8%); the operating margin is 9.8% (peer median 10.6%).
Valuation It trades at 23.8× forward earnings against a peer median of 27.6× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.6 points above its cost of capital (8.1% WACC).
Backlog Backlog (remaining performance obligations) was $8.56B at 30 Sep 2026, up 16% on a year earlier — 2.4 years of trailing revenue. Backlog detail →
Short interest Short interest is 3.7% of the free float (15 Oct 2026).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.60B | $3.20B | $2.70B | $2.50B | $2.23B |
| Revenue growth | — | +18% | +8% | +12% | — |
| Gross profit | $813M | $732M | $654M | $620M | $553M |
| EBITDA | $477M | $432M | $414M | $411M | $383M |
| Net income | $375M | $329M | $282M | $246M | $238M |
| Free cash flow | $372M | $295M | $255M | $212M | $46.4M |
| Capital expenditure | $206M | $185M | $154M | $151M | $198M |
| Total debt | $2.02B | $2.06B | $1.08B | $1.23B | $1.31B |
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 |
|---|---|---|---|---|---|---|
| BWX Technologies BWXT | $11.0B | -42% | +18% | 10% | 23.8× | 19.6% |
| General Dynamics GD | $95.7B | +3% | +10% | 10% | 19.4× | -2.5% |
| Curtiss-Wright CW | $17.1B | -36% | +11% | 19% | 27.4× | 16.2% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| Jacobs Solutions J | $17.4B | +26% | +20% | 5% | 18.6× | 15.8% |
| Lantheus LNTH | $6.57B | +8% | +2% | 19% | 17.5× | -0.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BWXT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.0% | +3.0% | 4th lowest of 21 |
| 6-month return | -41.8% | -9.8% | 2nd lowest of 21 |
| Distance from 52-week high | -50.6% | -32.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +17.7% | +16.8% | 11th highest of 21 |
| Operating margin | 9.8% | 10.6% | 10th lowest of 21 |
| Forward P/E | 23.8× | 27.6× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 19.6% | 15.3% | 3rd most demanding of 12 |
| Growth delivered (Del g) | +8.5% | +6.0% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +11.0 pp | +2.3 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | +1.6 pp | +1.7 pp | 11th highest of 21 |
| EV / EBITDA | 26.0× | 17.8× | 3rd most expensive of 14 |
| Net debt / EBITDA | 3.0× | 1.7× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| BWX Technologies BWXT | United States | $11.0B | -42% | +18% | 10% | 23.8× | 19.6% | +8.5% |
| Jonhon Optronic Technology 002179.SZ | China | $10.7B | -7% | +6% | 11% | 30.4× | n/a | n/a |
| Huntington Ingalls Industries HII | United States | $11.4B | -8% | +13% | 5% | 14.4× | 5.3% | +5.9% |
| Crane CR | United States | $11.6B | +11% | +22% | 18% | 25.8× | 17.5% | -3.5% |
| Moog MOG-A | United States | $10.3B | +3% | +16% | 12% | 27.8× | 15.1% | +6.0% |
| Hensoldt HAG.DE | Germany | $10.0B | +2% | +15% | 10% | 41.3× | 12.2% | +15.3% |
| AVIC Xi'an Aircraft Industry 000768.SZ | China | $9.92B | +1% | -34% | 3% | 55.7× | n/a | n/a |
| Leonardo DRS DRS | United States | $9.08B | -18% | +9% | 11% | 23.1× | 4.6% | +5.6% |
| Raytron Technology 688002.SS | China | $8.64B | -15% | +84% | 29% | 26.4× | 20.1% | +32.1% |
| Embraer S.A. Sponsored ADR EMBJ | United States | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% | +14.5% |
| Textron TXT | United States | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% | +4.9% |
| AVIC Airborne Systems 600372.SS | China | $8.36B | -11% | -2% | 5% | 48.1× | n/a | n/a |
| Csg CSG.AS | Netherlands | $14.6B | -20% | +72% | 25% | 11.7× | n/a | n/a |
| Melrose Industries MRO.L | United Kingdom | $7.80B | -4% | +9% | 11% | 13.4× | 15.3% | -12.8% |
| AECC Aviation Power 600893.SS | China | $15.8B | -15% | +18% | 2% | 173.7× | n/a | n/a |
| Korea Aerospace 047810.KS | South Korea | $7.37B | -39% | +44% | 6% | 45.4× | n/a | n/a |
| Loar LOAR | United States | $7.05B | +26% | +30% | 25% | 52.2× | 29.1% | +27.5% |
| Curtiss-Wright CW | United States | $17.1B | -36% | +11% | 19% | 27.4× | 16.2% | +7.9% |
| Hanwha Systems 272210.KS | South Korea | $6.93B | -57% | +30% | 6% | 82.5× | n/a | n/a |
| Kratos Defense & Security Solutions KTOS | United States | $6.59B | -39% | +26% | 2% | 36.4× | n/a | n/a |
| FTAI Aviation FTAI | United States | $18.4B | -33% | +46% | 23% | 16.7× | n/a | n/a |
BWX Technologies reported $8.56B of remaining performance obligations at 30 Sep 2026, up 16% from a year earlier and up 2% from the previous quarter. That is 2.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.17.