BWX Technologies, Inc.

Listed Company

BWXTCIK 0001486957NYSELarge AcceleratedEngines & TurbinesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.20B

Net Income

$328.94M

Total Assets

$4.27B

Equity

$1.23B

Shares Out

91.45M

Op. Cash Flow

$479.85M

Business

BWX Technologies, Inc. is a specialty manufacturer of nuclear components, developer of nuclear technologies and service provider focused on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for government and commercial customers. It offers precision nuclear components and assemblies, nuclear fuel and fuel handling systems, commercial heavy nuclear components, steam generators, heat exchangers, medical radioisotopes, radiopharmaceuticals and environmental remediation and site management services. The company operates two reportable segments: Government Operations and Commercial Operations. It serves primarily U.S. Government customers and nuclear utilities, with significant operations and licensed facilities in the U.S. and Canada and sales and project work for global nuclear and radiopharmaceutical customers through competitive contracts and joint ventures.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3,198	2,704	2,496	2,233	2,124
Cost of operations	2,466	2,048	1,876	1,681	1,574
Research and development costs	14	7	8	10	11
Losses (gains) on asset disposals and impairments, net	−5	4	1	—	—
Selling, general and administrative expenses	394	319	280	234	230
Total Costs and Expenses	2,869	2,379	2,164	1,930	1,812
Equity in Income of Investees	75	56	51	46	33
Operating Income	404	381	383	349	346
Interest income	4	3	2	758,000	416,000
Interest expense	−44	−39	−47	−36	—
Other Income (Expense)	34	5	−17	−34	50
Total Other Income (Expense)	−6	−32	−62	—	—
Total before tax	398	349	321	314	396
Provision for Income Taxes	68	66	75	76	89
Net Income	330	282	246	239	306
Net Income Attributable to Noncontrolling Interest	−916,000	−357,000	−472,000	−429,000	−417,000
Net Income Attributable to BWX Technologies, Inc.	329	282	246	238	306
Net Income Attributable to BWX Technologies, Inc. (USD per share)	3.59	3.08	2.68	2.6	3.24
Net Income Attributable to BWX Technologies, Inc. (USD per share)	3.58	3.07	2.68	2.6	3.24
Basic (in shares)	92	92	92	91	94
Diluted (in shares)	92	92	92	92	95

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	500	74	76	35	34
Restricted cash and cash equivalents	3	3	3	3	3
Accounts receivable trade, net	220	99	70	61	71
Accounts receivable other	68	53	16	27	—
Retainages	46	34	55	49	52
Contracts in progress	610	578	533	538	547
Inventories	47	40	—	—	—
Other current assets	66	49	64	55	48
Total Current Assets	1,560	930	818	772	774
Property, Plant and Equipment, Net	1,585	1,278	1,229	1,135	1,046
Investments	8	11	9	8	10
Goodwill	501	287	297	293	286
Deferred Income Taxes	12	7	16	21	21
Investments in Unconsolidated Affiliates	150	99	89	100	85
Intangible Assets	330	165	186	194	186
Other Assets	125	92	104	97	95
TOTAL ASSETS	4,271	2,870	2,747	2,619	2,501
Current maturities of long-term debt	0	13	6	6	0
Accounts payable	141	158	127	127	190
Accrued employee benefits	118	77	65	61	72
Accrued liabilities other	108	65	70	85	86
Advance billings on contracts	305	161	107	89	112
Total Current Liabilities	672	474	375	368	460
Long-Term Debt	2,016	1,043	1,203	1,283	1,189
Accumulated Postretirement Benefit Obligation	78	17	18	18	24
Environmental Liabilities	100	94	91	91	93
Pension Liability	78	83	83	58	59
Other Liabilities	94	79	43	53	39
Total Liabilities	3,038	1,790	—	—	—
Commitments and Contingencies (Note 10)	—	—	—	—	—
Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 128,720,819 and 128,320,295 shares at December 31, 2025 and 2024, respectively	1	1	1	1	1
Preferred stock, par value $0.01 per share, authorized 75,000,000 shares; no shares issued	0	0	0	0	0
Capital in excess of par value	160	229	206	189	174
Retained earnings	2,524	2,287	2,094	1,933	1,776
Treasury stock at cost, 37,289,582 and 36,869,498 shares at December 31, 2025 and 2024, respectively	−1,433	−1,388	−1,361	−1,353	−1,326
Accumulated other comprehensive income (loss)	−19	−48	−7	−22	12
Stockholders' Equity BWX Technologies, Inc.	1,232	1,081	933	748	637
Noncontrolling interest	525,000	−276,000	−50,000	45,000	60,000
Total Stockholders' Equity	1,233	1,080	933	748	637
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	4,271	2,870	2,747	2,619	2,501

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	109	86	79	74	69
Income of investees, net of dividends	19	−11	11	−3	−13
Provision for deferred taxes	49	20	−5	6	40
Recognition of (gains) losses for pension and postretirement plans	−6	14	34	50	−37
Stock-based compensation expense	26	22	16	14	19
Other, net	−13	−83,000	−2	—	—
Accounts receivable	−81	−48	462,000	15	84
Accounts payable	−24	35	−9	−40	29
Retainages	−13	22	−7	4	4
Contracts in progress and advance billings on contracts	134	−7	29	−39	−67
Income taxes	−30	2	−5	−764,000	4
Accrued and other current liabilities	7	865,000	−10	−19	−2
Pension liabilities, accrued postretirement benefit obligations and employee benefits	−23	881,000	−7	−69	−69
Other, net	−174,000	−14	−9	6	3
NET CASH PROVIDED BY OPERATING ACTIVITIES	480	408	364	245	386
Purchases of property, plant and equipment	−185	−154	−151	−198	−311
Acquisition of businesses	−535	0	0	−47	0
Purchases of securities	0	0	−2	−4	−5
Sales and maturities of securities	3	0	6	—	—
Investments, net of return of capital, in equity method investees	−30	−197,000	0	−11	0
Other, net	4	−717,000	−8	844,000	6
NET CASH USED IN INVESTING ACTIVITIES	−742	−155	−156	−256	−305
Payments of short-term borrowing and long-term debt	−13	0	0	—	—
Proceeds from issuance of convertible senior notes	1,250	0	0	—	—
Borrowings of long-term debt	1,030	456	353	—	—
Repayments of long-term debt	−1,280	−612	−434	−878	−999
Payment of debt issuance costs	−33	0	0	−2	−5
Purchase of capped calls related to convertible senior notes	−132	0	0	—	—
Repurchases of common stock	−30	−20	0	−20	−226
Dividends paid to common shareholders	−92	−88	−85	−81	−80
Cash paid for shares withheld to satisfy employee taxes	−14	−8	−8	−7	−5
Settlements of forward contracts, net	6	20	4	24	−2
Other, net	1	−207,000	756,000	6,000	2
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	694	−253	−169	14	−90
EFFECTS OF EXCHANGE RATE CHANGES ON CASH	−5	−2	2	−1	240,000
TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS	427	−1	41	1	−9
Interest	65	72	63	51	51
Income taxes (net of refunds)	48	46	84	72	45
Accrued capital expenditures included in accounts payable	12	18	7	10	27

Filings

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