Bwx Technologies, Inc. (BWXT) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Industrials / Manufacturing / Defense · as of Sep 24, 2026
Bwx Technologies, Inc. (BWXT)
A forensic read on Bwx Technologies, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
8.4
Distress distance
Watch
Earnings quality
3
Forensic signals
38.0
P / E (ttm)
26.7%
ROE
$13.0B
Market cap
1.17%
Dividend yield
18.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Bwx Technologies, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 8.4, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+28.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +28.6% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by receivables up +122% against revenue +18% and PP&E up +24% against revenue +18%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 6% of net operating assets, against an accruals ratio of 28.6%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
10.8%
FY2025
Return on invested capital.Return on invested capital is 10.8% in the latest fiscal year and slipping across FY2021–FY2025 from 13% — a modest positive spread over the ~9% cost of capital we hold this sector to — the capital already deployed adds value, though not dramatically. The capital base behind it grew +54% across FY2021–FY2025, from $2.0B to $3.1B, while the return fell 2.5 points, so the dollars added over that window earned less than the 13% the older base was already earning.
+0.1%/yr
FY2022–FY2025
Share count.Diluted share count changed 0% over the last 3 years to FY2025 (+0.1%/yr). Roughly flat — buybacks ($30M) are about offsetting stock comp ($26M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$3.20B
Revenue Growth YoY+18.3%
Revenue CAGR (3yr)+12.7%
Net Margin10.3%
Free Cash Flow$295.3M
Return on Equity26.7%
Debt / Equity1.64x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Bwx Technologies, Inc.'s actual 10-K/10-Q/8-K filings?