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BWX Technologies BWXT Commercial Operations — Purchase price adjustment

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Other financials

Income statement

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Revenue$860.2M+26.1%
Gross profit$197.4M+19.5%
Operating income$106.7M+10.4%
Net income$91.1M+20.7%
EPS (diluted)$0.99+20.7%

Balance sheet

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Cash & equivalents$520.3M+740%
Total debt$2.0B+68.5%
Total equity$1.3B+16.4%
Total assets$4.3B+41.6%

Cash flow

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Operating cash flow$92.6M+82.8%
CapEx$42.5M+27.4%
Free cash flow$50.1M+190%

Valuation

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Market cap$16.23B+29.3%
Enterprise value$17.73B+26.3%
P/E47.1×+4.5×
P/S4.8×+0.4×

Profitability

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Gross margin22.7%-1.5pp
Operating margin12.3%-1.5pp
Net margin10.2%-0.2pp
FCF margin9.7%-0.2pp

Returns & leverage

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Return on equity28.9%+0.7pp
Debt / equity1.6×+0.5×
Current ratio2.4×+0.4×

Where this comes from

Reported directly by BWX Technologies in its filing.

Tagged under the XBRL concept us-gaap:GoodwillPurchaseAccountingAdjustments.

The official record: BWX Technologies’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is BWX Technologies's commercial operations — purchase price adjustment?
BWX Technologies (BWXT) reported commercial operations — purchase price adjustment of $32.51M in Q4 2025.
What does commercial operations — purchase price adjustment mean?
Represents adjustments made to the initial purchase price of an acquisition within the commercial segment, often due to post-closing working capital settlements or earn-out provisions. These adjustments reflect the finalization of asset valuations and liabilities assumed during the integration process. It provides insight into the accuracy of initial acquisition estimates and post-merger financial reconciliation.