BigBear.ai BBAI Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 25.8%+3.5pp | 22.3%-5.0pp | 27.3%-0.7pp | 28%-0.6pp | 28.5%0.0pp | |
| Operating margin | -170.4%-2.8pp | -167.5%-69.4pp | -98.1%-12.8pp | -85.3%-50.0pp | -35.4%+48.9pp | |
| Net margin | -226.7%+3.5pp | -230.2%+65.4pp | -295.6%-4.6pp | -291%-147pp | -143.7%+43.1pp | |
| EBITDA margin | -155.5%0.0pp | -155.6%-67.3pp | -88.3%-11.8pp | -76.5%-49.2pp | -27.3%+49.5pp | |
| Free cash flow margin | -42.4%-9.2pp | -33.3%-8.7pp | -24.5%-6.4pp | -18.1%+1.2pp | -19.4%+5.0pp | |
| Returns | ||||||
| Return on equity | -58.4%— | —— | -115.6%+106pp | -221.2%-86.5pp | -134.8%— | |
| Return on assets | -45.9%+1.6pp | -47.5%+19.5pp | -66.9%+25.5pp | -92.5%-33.1pp | -59.4%+49.3pp | |
| Return on invested capital | -47.7%+11.2pp | -58.9%-2.8pp | -56%— | —— | -26%+113pp | |
| Efficiency | ||||||
| Asset turnover | 0.2×0.0× | 0.2×0.0× | 0.2×-0.1× | 0.3×-0.1× | 0.4×-0.2× | |
| Liquidity | ||||||
| Current ratio | 6.1×+4.3× | 1.8×-1.3× | 3.1×+1.2× | 1.9×+0.3× | 1.7×+1.2× | |
| Quick ratio | 6.1×+4.3× | 1.8×-1.3× | 3.1×+1.2× | 1.9×+0.3× | 1.7×+1.2× | |
| Cash ratio | 1.6×+1.1× | 0.5×-1.8× | 2.3×+0.5× | 1.8×+0.6× | 1.2×+1.0× | |
| Leverage | ||||||
| Debt-to-equity | 0×-0.2× | 0.2×0.0× | 0.2×-0.2× | 0.4×-0.1× | 0.6×— | |
| Debt-to-assets | 0×-0.1× | 0.1×0.0× | 0.1×-0.1× | 0.2×-0.1× | 0.3×-0.1× | |
| Interest coverage | -16.3×-4.5× | -11.8×-4.9× | -6.9×-1.1× | -5.8×-3.5× | -2.3×+2.9× | |
| Per Share | ||||||
| Book value per share | $1.67-2.0% | $1.71+25.3% | $1.36+63.7% | $0.83+6.1% | $0.78+5,030% | |
| Valuation | ||||||
| Market capitalization | $1.68B-28.9% | $2.36B-2.5% | $2.42B+58.7% | $1.52B+84.2% | $826.56M-25.9% | |
| Enterprise value | $1.59B-33.0% | $2.38B+14.8% | $2.07B+66.6% | $1.24B+49.9% | $830.22M-31.5% | |
| Price / sales | 13.2×-5.3× | 18.5×+1.7× | 16.8×+6.8× | 10×+4.8× | 5.2×-1.9× | |
| Price / book | 2.1×-1.7× | 3.9×-0.1× | 4×-1.8× | 5.7×+1.5× | 4.2×— | |
| EV / sales | 12.5×-6.1× | 18.6×+4.3× | 14.4×+6.2× | 8.2×+3.0× | 5.2×-2.5× | |
| Free cash flow yield | -3.2%-1.4pp | -1.8%-0.3pp | -1.5%+0.4pp | -1.8%+1.9pp | -3.7%-0.3pp | |
| Earnings yield | -17.2%-4.8pp | -12.5%+5.2pp | -17.6%+11.5pp | -29.1%-1.4pp | -27.8%-1.3pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are BigBear.ai's profit margins?
- BigBear.ai (BBAI) runs a 25.8% gross margin and a -170.4% operating margin, with a -226.7% net margin.
- Where do BigBear.ai's ratios come from?
- Every ratio is computed from BigBear.ai's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.