BWX Technologies, Inc.
- Open
- 187.00
- Day high
- 189.02
- Day low
- 184.73
- Prev close
- 184.11
- Volume
- 520K
- Mkt cap
- $17.1B
- P/E (TTM)
- 49.6
- EPS (TTM)
- $3.77
- P/B
- 13.4
- P/S
- 5.1
- Yield
- 0.56%
- Per share
- $1.04
- ▼Insiders net selling -$2.6M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
BWX Technologies, Inc. (BWXT) is a Industrials company listed on NYSE. The stock is up 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4). Drillr has 2 published research articles covering BWXT.
BWX Technologies, Inc. (BWXT) 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.
BWXT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $0.92 | $1.12 | +21.7% | $860M | +2.7% |
| Feb 27, 2024 | $0.94 | $1.01 | +7.4% | $726M | +10.0% |
| Nov 1, 2023 | $0.63 | $0.67 | +6.3% | $590M | +2.4% |
| Aug 3, 2023 | $0.59 | $0.65 | +10.2% | $612M | +6.5% |
| Feb 23, 2023 | $0.95 | $0.93 | -2.1% | $624M | -2.8% |
| Feb 22, 2022 | $0.93 | $0.95 | +2.2% | $592M | -1.9% |
| May 3, 2021 | $0.71 | $0.73 | +2.8% | $528M | +0.5% |
| Feb 22, 2021 | $0.71 | $0.74 | +4.2% | $557M | +4.4% |
| Nov 2, 2020 | $0.67 | $0.79 | +17.9% | $520M | +17.9% |
| May 4, 2020 | $0.60 | $0.79 | +31.7% | $542M | +31.7% |
| Feb 24, 2020 | $0.64 | $0.71 | +10.9% | $501M | +10.9% |
| May 1, 2019 | $0.60 | $0.51 | -15.0% | $416M | -15.0% |
BWXT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Miller Joseph Kirwanofficer: Pres., Government Operations | Option | 237 | — |
| Jul 2, 2026 | Cajade Gonzalo Raulofficer: Chief HR Officer | Option | 332 | — |
| Jul 2, 2026 | Cajade Gonzalo Raulofficer: Chief HR Officer | Tax | 124 | $194.65 |
| Jul 2, 2026 | Miller Joseph Kirwanofficer: Pres., Government Operations | Tax | 106 | $194.65 |
| Jun 9, 2026 | Burbach Gerhard Fdirector | Grant | 20 | — |
| Jun 9, 2026 | JABLONSKY DANIEL Ldirector | Grant | 1 | — |
| Jun 9, 2026 | Krieg Kenneth Jdirector | Grant | 31 | — |
| Jun 9, 2026 | Bertsch Jandirector | Grant | 35 | — |
| Jun 9, 2026 | PIASECKI NICOLE WEYERHAEUSERdirector | Grant | 7 | — |
| Jun 9, 2026 | Melvin Leland Ddirector | Grant | 13 | — |
| Jun 9, 2026 | JASKA JAMES Mdirector | Grant | 24 | — |
| Jun 9, 2026 | Richardson John Mdirector | Grant | 14 | — |
| May 12, 2026 | Geveden Rex Ddirector, officer: President and CEO | Sell | 3,570 | $204.65 |
| May 12, 2026 | Geveden Rex Ddirector, officer: President and CEO | Sell | 1,402 | $205.78 |
| May 12, 2026 | Fitzgerald Michael Thomasofficer: SVP & Chief Financial Officer | Option | 897 | $106.64 |
Source: BWXT SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full BWXT insider & 13F page →BWXT research & analysis
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BWX Technologies, Inc. company profile
Overview
BWX Technologies, Inc. (NYSE:BWXT) is a specialized nuclear technology company founded in 1867 and headquartered in Lynchburg, Virginia. Originally known as The Babcock & Wilcox Company, the company changed its name to BWX Technologies in June 2015 following a strategic restructuring. BWXT has evolved from its industrial roots to become a leading provider of nuclear components, fuel, and services primarily serving the U.S. government's naval nuclear propulsion program and the commercial nuclear power industry. The company operates through three main segments and has established itself as a critical supplier in the nuclear technology ecosystem, benefiting from growing demand for clean energy solutions and national security applications.
Business
BWX Technologies operates in the highly specialized nuclear technology industry, providing critical components and services across three distinct business segments. The company's expertise centers on nuclear fuel processing, reactor component manufacturing, and nuclear services, serving both government and commercial markets. The Nuclear Operations Group represents the company's largest segment, generating approximately 70% of total revenue. This segment primarily serves the U.S. Department of Energy's Naval Nuclear Propulsion Program, manufacturing precision nuclear components for submarines and aircraft carriers. The group also produces research reactor fuel for universities and national laboratories, converts Cold War-era stockpiles of high-enriched uranium into low-enriched uranium for civilian use, and manufactures missile launch tubes for Navy submarines. Additionally, this segment handles specialized nuclear materials processing and produces components for emerging defense applications like microreactors. The Nuclear Power Group accounts for roughly 25% of revenue and focuses on commercial nuclear power applications. This segment manufactures critical components for nuclear power plants including steam generators, pressure vessels, reactor components, and heat exchangers. The group also provides engineering services, in-plant maintenance, and inspection services for existing nuclear facilities. A growing area within this segment is the production of medical radioisotopes and radiopharmaceuticals used in cancer treatment and diagnostic imaging, representing an emerging high-value market. The Nuclear Services Group, comprising about 5% of revenue, provides environmental remediation services, nuclear materials processing, and management services for government facilities. This segment also develops advanced nuclear technologies including small modular reactors (SMRs) and microreactors for both military and civilian applications. The nuclear industry requires extremely high precision and safety standards, as nuclear components must withstand intense radiation, high temperatures, and pressure while maintaining structural integrity over decades. BWXT's manufacturing processes involve specialized metallurgy, precision machining, and rigorous quality control protocols that few companies possess.
Revenue model
BWX Technologies generates revenue through multiple business models depending on the segment and customer type. The company primarily operates on cost-plus contracts with the U.S. government, where BWXT is reimbursed for costs plus a predetermined fee or profit margin. This model provides stable, predictable revenue streams but typically yields lower margins than commercial work. For government operations, which represent the majority of revenue, BWXT works under long-term contracts with the Department of Energy and Department of Defense. These contracts often span multiple years and include both production work and research and development activities. The company's naval nuclear propulsion work operates under cost-plus arrangements that provide steady cash flow but limit margin expansion potential. In commercial operations, BWXT employs fixed-price contracts for manufacturing nuclear power plant components and providing engineering services. These contracts typically offer higher margins but carry greater execution risk. The company also generates revenue through service fees for ongoing maintenance and inspection services at nuclear facilities. The emerging medical isotope business operates on a product sales model, where BWXT manufactures and sells specialized radioisotopes to pharmaceutical companies and medical institutions. This segment commands premium pricing due to the specialized nature of the products and limited competition. Several factors influence BWXT's profitability margins. Positive margin drivers include the company's specialized expertise that limits competition, long-term contract relationships that provide pricing stability, and growing demand for nuclear technologies driven by clean energy initiatives and national security priorities. The medical isotope business offers particularly attractive margins due to high barriers to entry and strong demand growth. Margin pressures come from labor cost inflation in specialized nuclear manufacturing, material cost increases (particularly for specialized metals like zirconium), and the cost-plus nature of government contracts that limit pricing flexibility. The company also faces challenges from workforce hiring and retention in the specialized nuclear field, which can impact operational efficiency and increase training costs.
Competitive moat
BWX Technologies possesses a strong competitive moat built on multiple defensive characteristics that create substantial barriers to entry. The company's primary moat stems from its specialized nuclear manufacturing capabilities and regulatory expertise that few competitors can replicate. The most significant barrier is the company's security clearances and government relationships. BWXT's work on naval nuclear propulsion requires the highest levels of security clearance and involves classified technologies that create an effective duopoly with General Dynamics' Electric Boat division. The company's 150+ year relationship with the U.S. Navy and deep integration into the nuclear submarine supply chain makes it extremely difficult for competitors to displace. Technical expertise and manufacturing capabilities represent another strong moat element. BWXT possesses unique knowledge in nuclear fuel processing, precision component manufacturing, and specialized metallurgy that takes decades to develop. The company's ability to work with highly enriched uranium and manufacture reactor pressure vessels requires specialized facilities, equipment, and workforce that would cost hundreds of millions of dollars and many years for competitors to replicate. Regulatory barriers further strengthen the moat. Nuclear manufacturing requires extensive licensing from the Nuclear Regulatory Commission and other agencies, involving years-long approval processes. BWXT's existing licenses and regulatory relationships provide significant advantages over potential entrants. However, the moat faces some potential challenges. Technological disruption from alternative energy sources could reduce long-term demand for nuclear technologies. Government budget constraints could impact defense spending, though nuclear deterrence remains a strategic priority. The company's heavy dependence on government contracts also creates concentration risk, though this is partially offset by the mission-critical nature of naval nuclear propulsion. The commercial nuclear power market presents both opportunities and risks, as utilities may have more supplier options than the government, but BWXT's specialized capabilities in advanced reactor technologies like SMRs and microreactors provide differentiation in emerging markets.
Risks & safety
BWX Technologies demonstrates a moderate to strong margin of safety with solid financial fundamentals, though some valuation metrics suggest limited upside at current prices. **Financial Strength:** - Cash and liquidity: $74 million in cash and short-term investments as of Q1 2025, with strong operating cash flow generation of $408 million in 2024 - Debt levels: Debt-to-equity ratio of 1.09, indicating moderate leverage but manageable given stable government contract cash flows - Solvency: Strong current ratio of 1.96 and quick ratio of 1.88, indicating good short-term liquidity - Cash generation: Consistent positive free cash flow with $255 million generated in 2024 and guidance of $265-285 million for 2025 **Valuation Metrics:** - P/E ratio: 29.9x trailing earnings, appearing elevated for a government contractor but reflecting growth expectations - EV/EBITDA: 26.5x, suggesting premium valuation relative to industrial peers - Price-to-book: 8.2x, indicating significant premium to tangible assets - Graham number: 14.9, suggesting current price may be above intrinsic value estimates **Other Considerations:** - Backlog strength: $4.8 billion backlog provides revenue visibility and reduces execution risk - Government contract stability: Cost-plus contracts with U.S. government provide predictable cash flows - Cyclical exposure: Limited exposure to economic cycles due to defense and infrastructure nature of business
Recent development
Over the past several years, BWX Technologies has executed a comprehensive strategic transformation focused on expanding beyond its traditional naval nuclear propulsion core into adjacent high-growth markets. The company's "BWXT Battle Plan" emphasizes sustaining core operations while making strategic investments in emerging nuclear technologies. Acquisitions and Capacity Expansion: BWXT has pursued targeted acquisitions to strengthen its capabilities, including the 2024 acquisition of A.O.T. from L3Harris to expand its special materials portfolio, and the pending acquisition of Kinectrics Inc. to enhance its nuclear services offerings. The company has also invested heavily in manufacturing capacity, expanding its Cambridge, Ontario facility and completing the BWXT Innovation Campus to support research and development activities. Medical Isotope Business Development: The company has aggressively expanded its medical isotope capabilities, achieving positive EBITDA in this segment and targeting 23% growth in 2025. Key developments include advancing actinium-225 production for cancer treatment, submitting FDA drug master files, and progressing toward FDA approval for its Tc-99 generator technology expected in late 2025 or early 2026. Advanced Nuclear Technologies: BWXT has positioned itself as a leader in next-generation nuclear technologies, securing significant contracts for microreactor development including the $300 million Project Pele contract and work on the DRACO space nuclear propulsion system. The company is also advancing small modular reactor (SMR) capabilities, manufacturing reactor pressure vessels for GE Hitachi's BWRX-300 design and expanding manufacturing capacity to support multiple SMR projects. Government Contract Diversification: Beyond naval propulsion, BWXT has expanded its government services portfolio by securing management contracts for the Department of Energy's Strategic Petroleum Reserve, the Pantex nuclear weapons facility, and the Hanford nuclear cleanup site. The company is also developing uranium enrichment capabilities with a pilot plant project that could expand based on government strategic needs. These strategic initiatives have resulted in significant backlog growth, with commercial operations backlog increasing 78% year-over-year to $1.3 billion, demonstrating strong market demand for BWXT's expanded capabilities across multiple nuclear technology applications.
BWXT company profile · for informational purposes only — not investment advice.
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