BigBear.ai BBAI Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 25.8%-2.8pp | 22.3%-6.3pp | 27.3%+0.3pp | 28%+1.2pp | 28.5%+3.0pp | |
| Operating margin | -170.4%-135pp | -167.5%-83.2pp | -98.1%-11.8pp | -85.3%+3.9pp | -35.4%+50.2pp | |
| Net margin | -226.7%-83.0pp | -230.2%-43.4pp | -295.6%-179pp | -291%-181pp | -143.7%-29.2pp | |
| EBITDA margin | -155.5%-128pp | -155.6%-78.8pp | -88.3%-8.8pp | -76.5%+6.4pp | -27.3%+52.6pp | |
| Free cash flow margin | -42.4%-23.1pp | -33.3%-8.9pp | -24.5%-9.2pp | -18.1%— | -19.4%— | |
| Returns | ||||||
| Return on equity | -58.4%+76.3pp | —— | -115.6%— | -221.2%— | -134.8%— | |
| Return on assets | -45.9%+13.5pp | -47.5%+61.3pp | -66.9%-2.0pp | -92.5%-35.2pp | -59.4%-1.9pp | |
| Return on invested capital | -47.7%-21.8pp | -58.9%+79.8pp | -56%+20.0pp | —— | -26%+44.6pp | |
| Efficiency | ||||||
| Asset turnover | 0.2×-0.2× | 0.2×-0.4× | 0.2×-0.3× | 0.3×-0.2× | 0.4×-0.1× | |
| Liquidity | ||||||
| Current ratio | 6.1×+4.4× | 1.8×+1.3× | 3.1×+1.1× | 1.9×-0.2× | 1.7×-0.3× | |
| Quick ratio | 6.1×+4.4× | 1.8×+1.3× | 3.1×+1.1× | 1.9×-0.2× | 1.7×-0.3× | |
| Cash ratio | 1.6×+0.4× | 0.5×+0.3× | 2.3×+1.0× | 1.8×+0.4× | 1.2×-0.1× | |
| Leverage | ||||||
| Debt-to-equity | 0×-0.5× | 0.2×— | 0.2×-1.2× | 0.4×-0.9× | 0.6×-0.6× | |
| Debt-to-assets | 0×-0.3× | 0.1×-0.3× | 0.1×-0.4× | 0.2×-0.3× | 0.3×-0.2× | |
| Interest coverage | -16.3×-14.0× | -11.8×-6.6× | -6.9×-1.7× | -5.8×-0.7× | -2.3×+2.6× | |
| Per Share | ||||||
| Book value per share | $1.67+113% | $1.71+10,825% | $1.36+167% | $0.83+52.0% | $0.78+2.5% | |
| Valuation | ||||||
| Market capitalization | $1.68B+103% | $2.36B+111% | $2.42B+562% | $1.52B+309% | $826.56M+115% | |
| Enterprise value | $1.59B+91.9% | $2.38B+96.4% | $2.07B+335% | $1.24B+163% | $830.22M+74.8% | |
| Price / sales | 13.2×+8.0× | 18.5×+11.4× | 16.8×+14.4× | 10×+7.5× | 5.2×+2.5× | |
| Price / book | 2.1×-2.1× | 3.9×— | 4×+1.1× | 5.7×+3.0× | 4.2×+1.5× | |
| EV / sales | 12.5×+7.3× | 18.6×+11.0× | 14.4×+11.3× | 8.2×+4.9× | 5.2×+1.9× | |
| Free cash flow yield | -3.2%+0.5pp | -1.8%+1.7pp | -1.5%+5.0pp | -1.8%— | -3.7%— | |
| Earnings yield | -17.2%+10.6pp | -12.5%+14.0pp | -17.6%+31.9pp | -29.1%+14.6pp | -27.8%+15.8pp |
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.
