Bowman Consulting Group Ltd.
- Open
- 27.74
- Day high
- 29.49
- Day low
- 27.65
- Prev close
- 27.91
- Volume
- 91K
- Mkt cap
- $489M
- P/E (TTM)
- 45.0
- EPS (TTM)
- $0.62
- P/B
- 1.9
- P/S
- 1.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$893K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Bowman Consulting Group Ltd. (BWMN) is a Industrials company listed on NASDAQ. The stock is down 10% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Bowman Consulting Group Ltd. (BWMN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BWMN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.21 | $0.14 | -33.3% | $106M | -7.3% |
| Mar 5, 2026 | $0.38 | $0.45 | +18.4% | $129M | -0.1% |
| Nov 5, 2025 | $0.38 | $0.61 | +60.5% | $126M | -2.4% |
| Mar 11, 2025 | $0.39 | $0.71 | +82.1% | $113M | +15.5% |
| Nov 7, 2024 | $0.26 | $0.34 | +30.8% | $114M | +13.8% |
| Mar 11, 2024 | $0.12 | $0.31 | +158.3% | $93M | +17.0% |
| Mar 9, 2023 | $0.15 | $0.10 | -33.3% | $76M | +19.5% |
| Nov 10, 2022 | $0.09 | $0.25 | +177.8% | $71M | -34.2% |
| Aug 11, 2022 | $0.08 | $0.03 | -62.5% | $62M | +29.1% |
| Mar 21, 2022 | $-0.08 | $-0.07 | +12.5% | $42M | +21.5% |
| Nov 10, 2021 | $0.01 | $0.03 | +200.0% | $40M | -57.3% |
| Aug 12, 2021 | — | $-0.00 | — | — | — |
BWMN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 5, 2026 | Grebbien Virginia Leedirector | Sell | 7,500 | $31.65 |
| May 29, 2026 | Grebbien Virginia Leedirector | Grant | 4,077 | — |
| May 29, 2026 | Vicks Raymond Jr.director | Grant | 4,077 | — |
| May 29, 2026 | Riddick Stephen Adirector | Grant | 4,077 | — |
| May 29, 2026 | Mulroy Patriciadirector | Grant | 4,077 | — |
| May 29, 2026 | LAURITO JAMES Pdirector | Grant | 4,077 | — |
| May 13, 2026 | Vicks Raymond Jr.director | Sell | 1,230 | $33.34 |
| May 12, 2026 | Bowman Garydirector, 10 percent owner, officer: Chief Executive Officer | Tax | 1,127 | $34.07 |
| Apr 24, 2026 | Bowman Garydirector, 10 percent owner, officer: Chief Executive Officer | Sell | 12,500 | $30.71 |
| Apr 24, 2026 | Bowman Garydirector, 10 percent owner, officer: Chief Executive Officer | Sell | 7,500 | $30.71 |
| Feb 20, 2026 | Bowman Garydirector, 10 percent owner, officer: Chief Executive Officer | Sell | 7,500 | $32.62 |
| Feb 20, 2026 | Bowman Garydirector, 10 percent owner, officer: Chief Executive Officer | Sell | 12,500 | $32.62 |
| Feb 19, 2026 | Swayze Danielofficer: Chief Operating Officer | Tax | 352 | $32.93 |
| Feb 19, 2026 | Hickey Robert Alanofficer: Chief Legal Officer | Tax | 454 | $32.93 |
| Feb 17, 2026 | Swayze Danielofficer: Chief Operating Officer | Grant | 14,298 | — |
Source: BWMN SEC Form 4 filings, latest Jun 5, 2026. For informational purposes only — not investment advice.
See the full BWMN insider & 13F page →Bowman Consulting Group Ltd. company profile
Overview
Bowman Consulting Group Ltd. (NASDAQ:BWMN) is a professional services firm that provides engineering, environmental, and consulting solutions across the United States. Founded in 1995 and headquartered in Reston, Virginia, the company went public in May 2021 through an initial public offering. Since its IPO, Bowman has pursued an aggressive growth strategy, completing over 20 acquisitions to expand its geographic footprint and service capabilities. The company has grown from a regional player to a national firm with nearly 70 locations across the United States, serving both public and private sector clients in infrastructure development, real estate, and energy markets.
Business
Bowman operates in the professional engineering and environmental consulting industry, providing specialized technical services that support infrastructure development and real estate projects across the United States. The company's work is essential to the planning, design, and execution of construction projects, from residential developments to major transportation infrastructure. The company organizes its services into four main business segments: Building Infrastructure (49-51% of revenue): This segment provides civil engineering, environmental consulting, and site development services primarily for real estate development projects. Services include conceptual land planning, environmental permitting, stormwater management design, utility coordination, and construction administration. The segment serves developers, property owners, and contractors working on residential, commercial, and industrial projects. Transportation (19-21% of revenue): This segment focuses on transportation infrastructure projects including roadway and highway design, traffic studies, bridge engineering, and construction management for government agencies and private clients. The work supports everything from local road improvements to major interstate highway projects funded through federal programs like the Infrastructure Investment and Jobs Act (IIJA). Power and Utilities (18-19% of revenue): This rapidly growing segment provides engineering services for electrical grid infrastructure, renewable energy projects, data centers, and utility system upgrades. Services include commissioning and energy efficiency consulting, electrical system design, and environmental compliance for power generation and distribution projects. Emerging Markets (11-14% of revenue): This segment encompasses newer service areas including geospatial mapping and surveying, ports and harbors engineering, mining and oil & gas consulting, and specialized environmental services. The company has been particularly focused on expanding its geospatial capabilities through acquisitions and technology investments.
Revenue model
Bowman generates revenue primarily through professional service fees charged to clients on a project basis. The company operates on a traditional consulting model where it bills clients for the time and expertise of its professional staff, typically engineers, environmental scientists, and other technical specialists. Revenue is recognized as services are performed, with most projects spanning several months to years. The company's clients include real estate developers, government agencies, utility companies, and industrial firms. Payment terms vary by client type, with government contracts often providing more stable, longer-term revenue streams, while private sector work can be more project-dependent and cyclical. Several factors influence Bowman's profitability and margins. Utilization rates of professional staff are critical, as the company must maintain high billable hour ratios to cover fixed costs including salaries and office expenses. Project mix affects margins, with specialized services like geospatial mapping and environmental consulting typically commanding higher rates than basic civil engineering work. Market conditions in real estate and infrastructure spending directly impact demand, with interest rates affecting private development activity and government budget cycles influencing public sector work. The company benefits from several favorable trends including federal infrastructure spending through the IIJA, growing demand for data center development, renewable energy transition requirements, and increasing environmental compliance needs. However, margins can be pressured by competition for skilled technical professionals, which drives up labor costs, and economic downturns that reduce private sector construction activity.
Competitive moat
Bowman operates in a highly fragmented professional services industry with limited structural competitive advantages. The company's primary moat stems from its local market relationships and regulatory expertise. Engineering and environmental consulting services often require deep knowledge of local regulations, permitting processes, and relationships with government agencies. This creates some barriers to entry for competitors unfamiliar with specific markets. The company has built scale advantages through acquisitions, allowing it to serve larger, multi-location clients and cross-sell services across different specialties. Its national footprint provides some competitive advantage when bidding on large infrastructure projects that span multiple states or require diverse technical capabilities. However, Bowman's moat is relatively narrow. The professional services industry has low barriers to entry, with skilled professionals able to start competing firms or clients able to switch providers relatively easily. The company faces competition from large national firms like AECOM and Jacobs, regional specialists, and small local consultancies. Differentiation is primarily based on expertise, relationships, and price rather than proprietary technology or unique assets. The company's recent investments in geospatial technology and digital services represent an attempt to build stronger competitive advantages, but these capabilities are not yet proven to create sustainable differentiation. Overall, Bowman operates in a competitive industry where success depends more on execution, talent retention, and market positioning than on structural competitive advantages.
Risks & safety
Bowman presents a moderate margin of safety with some financial stability concerns: Liquidity and Solvency: • Cash position: $10.7 million (Q1 2025), relatively low for a $465 million market cap company • Current ratio: 1.25x, indicating adequate short-term liquidity • Debt-to-equity ratio: 0.46x, manageable but elevated for a service business • Free cash flow: $11.0 million (Q1 2025), positive but modest relative to size Valuation Metrics: • EV/EBITDA: 20.7x, relatively high for a cyclical consulting business • Price-to-book: 1.46x, reasonable for a service company • Revenue multiple: ~1.1x trailing revenue, typical for professional services Other Considerations: • Acquisition-dependent growth strategy creates integration risks • Cyclical industry exposure to real estate and infrastructure spending • Limited cash reserves relative to acquisition pace and market volatility • Positive operating cash flow generation provides some stability
Recent development
Over the past three years, Bowman has executed an aggressive growth-through-acquisition strategy, completing over 20 acquisitions since going public in 2021. Key strategic moves include the significant acquisition of Surdex in 2024, which substantially expanded the company's geospatial mapping and surveying capabilities. This acquisition represented a strategic pivot toward higher-margin, technology-enabled services that complement traditional engineering work. The company has systematically diversified its revenue base away from building infrastructure, which represented 70% of revenue in 2021 but has declined to approximately 49% by 2025. This diversification strategy has focused on growing the transportation and power/utilities segments, which have benefited from federal infrastructure spending and the energy transition. Technology investments have become a key strategic focus, with the company investing in spatial orientation, geo-location, and automation technologies. Management has begun cautiously integrating artificial intelligence into operations and exploring advanced scanning systems for environmental and infrastructure applications. These investments aim to improve productivity and create differentiated service offerings. The company has also expanded its presence in emerging markets including ports and harbors engineering, mining, and specialized environmental services. The emerging markets segment has shown particularly strong growth, increasing 118% year-over-year in Q1 2025. Recent organizational changes include promoting Dan Swayze to Chief Operating Officer to support operational scaling and integration of acquired companies.
BWMN company profile · for informational purposes only — not investment advice.
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