BWX Technologies, Inc.
BWXT · Engines & Turbines · 91.6M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Reference price $203.78 · est. market cap ~$18.7B — last insider sale, 2026-05-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A85Wide-moat sole-source supplier of naval nuclear components with top-quartile returns and strong cash generation.
Strengths
- High returns — ROE 26.7% (81.8th pct), ROA 7.7% (84.9th pct), operating margin 12.6% (75.9th pct)
- Strong FCF ($295M, 78.5th pct) and a near-irreplaceable position supplying nuclear reactors for US Navy submarines/carriers
Risks
- Elevated leverage (D/E 1.64, 87.9th pct) and low gross margin (22.9%, 22.7th pct)
- ~68% of revenue from US Government contracts subject to appropriations and budget risk
Notable findings
- RestatementAmended and Restated Bylaws; and charters for the Audit and Finance, Governance and Compensation Committees of our Board of Directors 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider sellingInsider selling — 13 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$5M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
22.9%
Operating margin
12.6%
Net margin
10.3%
Return on equity
26.7%
Return on assets
7.7%
ROIC
9.8%
Revenue growth (QoQ)
-2.9%
Net-income growth
16.7%
Debt / equity
1.6×
Net debt / EBITDA
3.0×
Current ratio
2.3×
Free cash flow
$295M
EBITDA
$514M
Tangible book value
$402M
Cash & investments
$500M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | Geveden Rex D | Sell | 3.7K | $203.78 |
| 2026-05-12 | Geveden Rex D | Sell | 1.4K | $205.78 |
| 2026-05-12 | Geveden Rex D | Sell | 1.3K | $207.13 |
| 2026-05-12 | Geveden Rex D | Sell | 3.6K | $204.65 |
| 2026-05-11 | Fitzgerald Michael Thomas | Option exercise | 1.5K | $100.83 |
| 2026-05-11 | Fitzgerald Michael Thomas | Option exercise | 897 | $106.64 |
| 2026-05-11 | Fitzgerald Michael Thomas | Sell | 2.4K | $209.25 |
| 2026-05-06 | Fitzgerald Michael Thomas | Option exercise | 2.8K | $61.70 |
| 2026-05-06 | Fitzgerald Michael Thomas | Tax withheld | 1.6K | $215.20 |
| 2026-04-30 | Krieg Kenneth J | Option exercise | 762 | — |
| 2026-04-30 | NILAND BARBARA A | Option exercise | 762 | — |
| 2026-03-02 | Gorman Kevin James | Sell | 1.3K | $214.71 |
| 2026-03-02 | MacQuarrie John R. | Option exercise | 2.3K | $61.70 |
| 2026-03-02 | MacQuarrie John R. | Tax withheld | 1.1K | $216.47 |
| 2026-02-28 | MacQuarrie John R. | Tax withheld | 249 | $205.98 |
| 2026-02-28 | Gorman Kevin James | Option exercise | 159 | — |
| 2026-02-28 | Gorman Kevin James | Tax withheld | 45 | $205.98 |
| 2026-02-28 | Geveden Rex D | Option exercise | 3.2K | — |
| 2026-02-28 | Geveden Rex D | Tax withheld | 1.3K | $205.89 |
| 2026-02-28 | Fitzgerald Michael Thomas | Option exercise | 215 | — |
| 2026-02-28 | Fitzgerald Michael Thomas | Tax withheld | 86 | $205.98 |
| 2026-02-28 | Miller Joseph Kirwan | Option exercise | 132 | — |
| 2026-02-28 | Miller Joseph Kirwan | Tax withheld | 59 | $205.98 |
| 2026-02-28 | MacQuarrie John R. | Option exercise | 468 | — |
| 2026-02-27 | Fitzgerald Michael Thomas | Tax withheld | 1.2K | $207.24 |
| 2026-02-27 | Miller Joseph Kirwan | Option exercise | 2.0K | — |
| 2026-02-27 | Miller Joseph Kirwan | Tax withheld | 927 | $207.24 |
| 2026-02-27 | Fitzgerald Michael Thomas | Option exercise | 3.0K | — |
| 2026-02-27 | Gorman Kevin James | Tax withheld | 521 | $207.24 |
| 2026-02-27 | Geveden Rex D | Tax withheld | 25K | $207.24 |
| 2026-02-27 | MacQuarrie John R. | Option exercise | 603 | — |
| 2026-02-27 | MacQuarrie John R. | Tax withheld | 321 | $207.24 |
| 2026-02-27 | MacQuarrie John R. | Option exercise | 6.9K | — |
| 2026-02-27 | MacQuarrie John R. | Tax withheld | 3.7K | $207.24 |
| 2026-02-27 | Geveden Rex D | Option exercise | 56K | — |
| 2026-02-27 | Gorman Kevin James | Grant | 1.7K | — |
| 2026-02-26 | Fitzgerald Michael Thomas | Option exercise | 234 | — |
| 2026-02-26 | Geveden Rex D | Option exercise | 3.7K | — |
| 2026-02-26 | Geveden Rex D | Tax withheld | 1.8K | $208.27 |
| 2026-02-26 | Miller Joseph Kirwan | Option exercise | 156 | — |
| 2026-02-26 | Miller Joseph Kirwan | Tax withheld | 78 | $208.27 |
| 2026-02-26 | Fitzgerald Michael Thomas | Tax withheld | 106 | $208.27 |
| 2026-02-26 | Bender Kurt A. | Option exercise | 100 | — |
| 2026-02-26 | Bender Kurt A. | Tax withheld | 29 | $208.27 |
| 2026-02-26 | Gorman Kevin James | Option exercise | 150 | — |
| 2026-02-26 | Gorman Kevin James | Tax withheld | 50 | $208.27 |
| 2026-02-26 | MacQuarrie John R. | Option exercise | 503 | — |
| 2026-02-26 | MacQuarrie John R. | Tax withheld | 268 | $208.27 |
| 2026-02-25 | Burbach Gerhard F | Sell | 2.0K | $208.61 |
| 2026-02-12 | Geveden Rex D | Sell | 454 | $199.71 |
| 2026-02-12 | Geveden Rex D | Sell | 2.2K | $203.23 |
| 2026-02-12 | Geveden Rex D | Sell | 2.5K | $205.03 |
| 2026-02-12 | Geveden Rex D | Sell | 1.9K | $204.05 |
| 2026-02-12 | Geveden Rex D | Sell | 1.2K | $201.17 |
| 2026-02-12 | Geveden Rex D | Sell | 1.8K | $202.24 |
| 2026-01-05 | Meguid Omar Fathi | Tax withheld | 766 | $181.85 |
| 2026-01-05 | Meguid Omar Fathi | Option exercise | 2.9K | — |
| 2025-11-12 | Geveden Rex D | Sell | 2.1K | $199.37 |
| 2025-11-12 | Geveden Rex D | Sell | 709 | $195.08 |
| 2025-11-12 | Geveden Rex D | Sell | 2.0K | $196.74 |
| 2025-11-12 | Geveden Rex D | Sell | 2.9K | $197.69 |
| 2025-11-12 | Geveden Rex D | Sell | 2.4K | $198.67 |
| 2025-10-24 | Fitzgerald Michael Thomas | Option exercise | 1.8K | — |
| 2025-10-24 | Fitzgerald Michael Thomas | Tax withheld | 719 | $199.92 |
| 2025-08-11 | Melvin Leland D | Sell | 600 | $178.26 |
| 2025-08-11 | Whitford Ronald Owen Jr | Option exercise | 2.1K | $61.70 |
| 2025-08-11 | Whitford Ronald Owen Jr | Sell | 2.1K | $177.43 |
| 2025-08-06 | Meguid Omar Fathi | Sell | 2.3K | $179.84 |
| 2025-08-06 | Geveden Rex D | Sell | 24K | $178.99 |
| 2025-08-06 | Geveden Rex D | Sell | 532 | $179.69 |
| 2025-05-02 | NILAND BARBARA A | Option exercise | 1.5K | — |
| 2025-05-02 | Krieg Kenneth J | Option exercise | 1.5K | — |
| 2025-05-02 | Richardson John M | Option exercise | 1.5K | — |
| 2025-03-05 | DUFFY ROBERT L | Sell | 6.0K | $104.03 |
| 2025-02-28 | Whitford Ronald Owen Jr | Option exercise | 430 | — |
| 2025-02-28 | Whitford Ronald Owen Jr | Tax withheld | 129 | $102.13 |
| 2025-02-28 | LeMasters Robb A. | Option exercise | 760 | — |
| 2025-02-28 | LeMasters Robb A. | Tax withheld | 342 | $102.13 |
| 2025-02-28 | McCoy Kevin M | Option exercise | 496 | — |
| 2025-02-28 | McCoy Kevin M | Tax withheld | 141 | $102.13 |
| 2025-02-28 | DUFFY ROBERT L | Option exercise | 25 | — |
| 2025-02-28 | DUFFY ROBERT L | Tax withheld | 25 | $102.13 |
| 2025-02-28 | Meguid Omar Fathi | Option exercise | 264 | — |
| 2025-02-28 | Meguid Omar Fathi | Tax withheld | 85 | $102.13 |
| 2025-02-28 | Geveden Rex D | Option exercise | 3.4K | — |
| 2025-02-28 | Geveden Rex D | Tax withheld | 1.7K | $102.13 |
| 2025-02-28 | Fitzgerald Michael Thomas | Option exercise | 215 | — |
| 2025-02-28 | Fitzgerald Michael Thomas | Tax withheld | 95 | $102.13 |
| 2025-02-27 | DUFFY ROBERT L | Option exercise | 91 | — |
| 2025-02-27 | Geveden Rex D | Option exercise | 4.5K | — |
| 2025-02-27 | Geveden Rex D | Tax withheld | 1.9K | $106.64 |
| 2025-02-27 | McCoy Kevin M | Option exercise | 648 | — |
| 2025-02-27 | McCoy Kevin M | Tax withheld | 282 | $106.64 |
| 2025-02-27 | LeMasters Robb A. | Option exercise | 1.2K | — |
| 2025-02-27 | LeMasters Robb A. | Tax withheld | 524 | $106.64 |
| 2025-02-27 | Whitford Ronald Owen Jr | Option exercise | 540 | — |
| 2025-02-27 | Whitford Ronald Owen Jr | Tax withheld | 232 | $106.64 |
| 2025-02-27 | Whitford Ronald Owen Jr | Sell | 2.0K | $104.92 |
| 2025-02-27 | DUFFY ROBERT L | Tax withheld | 91 | $106.64 |
| 2025-02-27 | Fitzgerald Michael Thomas | Option exercise | 243 | — |
| 2025-02-27 | Fitzgerald Michael Thomas | Tax withheld | 110 | $106.64 |
| 2025-02-27 | Meguid Omar Fathi | Option exercise | 411 | — |
| 2025-02-27 | Meguid Omar Fathi | Tax withheld | 132 | $106.64 |
| 2025-02-26 | Geveden Rex D | Sell | 16K | $107.91 |
| 2025-02-26 | Geveden Rex D | Sell | 30K | $107.13 |
| 2025-02-21 | Geveden Rex D | Tax withheld | 32K | $104.82 |
| 2025-02-21 | Whitford Ronald Owen Jr | Option exercise | 3.6K | — |
| 2025-02-21 | Whitford Ronald Owen Jr | Tax withheld | 1.6K | $104.82 |
| 2025-02-21 | LeMasters Robb A. | Option exercise | 14K | — |
| 2025-02-21 | LeMasters Robb A. | Tax withheld | 6.5K | $104.82 |
| 2025-02-21 | McCoy Kevin M | Tax withheld | 3.1K | $104.82 |
| 2025-02-21 | McCoy Kevin M | Option exercise | 7.2K | — |
| 2025-02-21 | Geveden Rex D | Option exercise | 72K | — |
| 2025-02-18 | Whitford Ronald Owen Jr | Tax withheld | 257 | $106.83 |
| 2025-02-18 | Geveden Rex D | Option exercise | 9.8K | — |
| 2025-02-18 | Geveden Rex D | Tax withheld | 4.1K | $106.83 |
| 2025-02-18 | LeMasters Robb A. | Option exercise | 2.1K | — |
| 2025-02-18 | LeMasters Robb A. | Tax withheld | 1.0K | $106.83 |
| 2025-02-18 | McCoy Kevin M | Option exercise | 1.1K | — |
| 2025-02-18 | McCoy Kevin M | Tax withheld | 502 | $106.83 |
| 2025-02-18 | Whitford Ronald Owen Jr | Option exercise | 532 | — |
| 2025-01-05 | Meguid Omar Fathi | Tax withheld | 1.0K | $113.50 |
| 2025-01-05 | Meguid Omar Fathi | Option exercise | 2.9K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-05 | Shareholder vote | filing ↗ |
| 2026-05-04 | ResultsExhibits | filing ↗ |
| 2026-02-23 | ResultsExhibits | filing ↗ |
| 2026-02-20 | Exec/director changeExhibits | filing ↗ |
| 2025-11-10 | Material agreementDebt obligation3.02OtherExhibits | filing ↗ |
| 2025-11-05 | OtherExhibits | filing ↗ |
| 2025-11-04 | Exec/director change | filing ↗ |
| 2025-11-03 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-05 | 2026-04-30 | 0001486957-26-000031 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001486957-26-000027 ↗ |
| 10-Q | 2026-05-04 | 2026-03-31 | 0001486957-26-000028 ↗ |
| 10-K | 2026-02-23 | 2025-12-31 | 0001486957-26-000007 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001486957-26-000005 ↗ |
| 8-K | 2026-02-20 | 2026-02-18 | 0001104659-26-017868 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001104659-25-109152 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001104659-25-106665 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001104659-25-106427 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001486957-25-000058 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001486957-25-000059 ↗ |
| 8-K | 2025-08-04 | 2025-08-04 | 0001486957-25-000051 ↗ |