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Borgwarner Inc. (BWA)

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Borgwarner Inc. (BWA) reported revenue of $3.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 0.3% on the same quarter a year earlier. Net income was $277 million, up 23.7% on the year, and diluted earnings per share $1.34. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$3.6 billionup 0.3%
Net income$277 millionup 23.7%
Diluted EPS$1.34
QuarterQ2 FY2026ended 30 June 2026

Borgwarner (BWA) in brief

Borgwarner (BWA) reported revenue of $14.3 billion for fiscal 2025, the year ended 31 December 2025, up 1.6% on the year before.
Read moreNet income was $277 million and diluted earnings per share $1.28. Revenue was $14.1 billion in fiscal 2024, $14.2 billion in fiscal 2023, $12.6 billion in fiscal 2022 and $11.8 billion in fiscal 2021. Net income in the same years was $338 million, $625 million, $944 million and $537 million. Over the twelve months to 30 June 2026, Borgwarner reported revenue of $14.3 billion and net income of $415 million. Revenue grew 7.1% a year, compounded, over the five years to fiscal 2025. Borgwarner declared $0.56 a share in dividends over the last four quarters and had 204 million shares outstanding at the latest filed count. At the close of 8 October 2026 the market cap of Borgwarner was $12.6 billion, 30.9 times its earnings over the last twelve months.

Ratios

From the filings

ROE7.4%
ROCE7.5%
Operating margin5.0%
Net margin2.9%
FCF marginn/a
Interest cover7.38
Debt to equity0.69
Cash conversionn/a
Share count, 1 year-5.9%
Sales CAGR, 3 years4.3%
Profit CAGR, 3 years-33.5%
EPS, TTM$2.00

At the close of 8 October 2026

Price$61.72
Market cap$12.6 billion
Stock P/E30.86
Price to book2.24
EV / EBITDA11.78
Dividend yield0.9%
Market cap / sales0.88
52-week high$77.03
52-week low$40.96
Price, 1 year44.1%
Price CAGR, 3 years16.1%
Price CAGR, 5 years8.5%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Borgwarner Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
BWAgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BWA

Filings22 in twelve months: 12 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 3 officer or director change; 1 shareholder vote; 1 other events
Planned insider sales28 Form 144 notices in twelve months, $18.3 million; latest 1 September 2026
Options tapeput/call 0.29 by open interest at the 8 October 2026 close; the straddle prices a 4.5% move to 16 October 2026
13F holders11 of the followed funds hold it; largest Geode Capital Management; 9 Schedule 13D or 13G filings in twelve months
Insider trading30 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest6.4 million shares short, 3.84 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 * †Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,6223,5223,5953,6033,4493,4393,5153,6383,5913,5723,5333,648
Cost of revenue2,9702,8632,9512,9182,8132,7562,8762,9982,9272,8412,8562,927
Gross profit652659644685636683639640664731677721
Gross margin18%19%18%19%18%20%18%18%18%20%19%20%
R&D192176187189190170182182189157177176
SG&A330353329341340340315317341331328331
Operating income272281295297270-316237289248-238336370
Operating margin8%8%8%8%8%-9%7%8%7%-7%10%10%
Interest expense21.016.015.017.024.028.028.024.025.022.025.025.0
Pre-tax income23822929029827029.0232284248-240328372
Tax rate56%26%21%-10%5%231%26%18%30%n/a22%22%
Net income50.0154206303234-405157224158-262242277
Net margin1%4%6%8%7%-12%4%6%4%-7%7%8%
Diluted EPS$0.21$0.66$0.90$1.34$1.04-$1.85$0.72$1.03$0.73-$1.23$1.16$1.34
Operating cash flown/an/an/an/an/an/a82.0579n/an/a152586
Capital expenditure10420819016515516111977.011116214396.0
Free cash flown/an/an/an/an/an/a-37.0502n/an/a9.0490
Buybacks0.01771000.03011.00.0108102298150100
Dividends paid26.025.025.025.024.024.024.024.036.035.035.034.0
Shares outstanding235m230m228m228m219m219m220m216m214m207m205m204m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Revenue8,3058,0239,0719,79910,53010,16810,16511,80312,63514,19814,08614,31614,344
Cost of revenue6,5496,3207,1427,6848,3008,0678,2559,63010,26611,63011,43811,64211,551
Gross profit1,7561,7031,9292,1152,2292,1011,9102,1732,3692,5682,6482,6742,793
Gross margin21.1%21.2%21.3%21.6%21.2%20.7%18.8%18.4%18.7%18.1%18.8%18.7%19.5%
Research and development336307343408440413476586701717736710699
Selling, general and administrative6996628188989468739511,0851,2901,3161,3501,3041,331
Operating income9648889731,0721,1901,3036189141,0091,160546536716
Operating margin11.6%11.1%10.7%10.9%11.3%12.8%6.1%7.7%8.0%8.2%3.9%3.7%5.0%
Interest expensen/an/an/an/an/a55.073.082.071.073.084.099.097.0
Pre-tax income9808759431,0641,1961,265964510913991539524708
Income tax29326230658021146839765.0195289111189230
Effective tax rate29.9%29.9%32.5%54.6%17.7%37.0%41.2%12.7%21.4%29.2%20.6%36.1%32.5%
Net income656577595440931746500537944625338277415
Net margin7.9%7.2%6.6%4.5%8.8%7.3%4.9%4.5%7.5%4.4%2.4%1.9%2.9%
Diluted EPS$2.86$2.56$2.76$2.08$4.44$3.61$2.34$2.24$3.99$2.67$1.50$1.28$2.00
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Turbos & Thermal Technologies6,0125,8875,77240.2%
Drivetrain & Morse Systems5,5495,5775,65439.4%
PowerDrive Systems2,1661,9372,34716.3%
Battery & Charging Systems5467295904.1%
Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging Systems
14.3FY202314.1FY202414.4FY2025

$ billion; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Foundational products12,16111,75111,74682.0%
eProducts2,0372,3352,57018.0%
Foundational productseProducts
14.2FY202314.1FY202414.3FY2025

$ billion; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
China2,9982,8622,96820.7%
United States2,3342,2402,29316.0%
Mexico1,7591,6441,74112.2%
Germany1,6691,6801,62411.3%
Other Europe1,3871,5861,50810.5%
PL1,1211,1601,2458.7%
South Korea1,1631,1811,1508.0%
Other foreign8639131,0167.1%
HU9048207715.4%
ChinaUnited StatesMexicoGermanyOther EuropePLSouth KoreaOther
14.2FY202314.1FY202414.3FY2025

$ billion; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Operating cash flow8028681,0361,1801,1261,0081,1841,3061,5691,3121,3521,648n/a
Capital expenditure563577501560547481441514622832671469512
Free cash flow2392915356205805277437929474806811,179n/a
Free cash flow margin2.9%3.6%5.9%6.3%5.5%5.2%7.3%6.7%7.5%3.4%4.8%8.2%n/a
Cash from investing-665-1,759-404-752-514-489-866-1,395-1,418n/an/an/an/a
Cash from financing-202737-734-362-383-420437286-567n/an/an/an/a
Depreciation and amortisation330320391408431439568574552582673719679
Share-based compensation32.140.243.652.052.942.041.050.064.058.062.066.0n/a
Buybacks1403502881001501002160.0240177402508650
Dividends paid11611711312414214014616216113098.0119140
Dividend per share$0.51$0.52$0.53$0.59$0.68$0.00$0.68$0.68$0.68$0.56$0.44$0.56n/a
Diluted shares, weighted229m226m215m212m209m207m214m240m237m234m225m216m206m
Shares outstanding at period end226m219m212m211m208m206m239m240m234m230m219m207m204m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Funded by
Shareholders' equity3,6163,5543,2183,7174,2264,7066,4286,9487,2245,8285,5325,4425,621
Non-controlling interest74.777.883.6109119138296314284238174172177
Short-term borrowingsn/an/an/an/an/a34.0n/an/an/an/an/an/an/a
Debt7392,2702,0632,1202,0801,9263,7384,2614,1403,7073,7633,8943,863
Operating lease liabilitiesn/an/an/an/an/a67.017215285.0112144122162
Finance lease liabilitiesn/an/an/an/an/a0.012.011.09.023.020.016.0n/a
Other liabilities2,7983,3093,4703,8423,6702,8315,3834,8895,2524,5454,3604,1234,111
Total liabilities and equity7,2289,2108,8359,78810,0959,70216,02916,57516,99414,45313,99313,76913,934
Owned
Fixed assets2,0942,4482,5022,8642,9042,925n/an/an/an/an/an/an/a
Goodwill1,2061,7581,7021,8821,8531,8422,6272,8542,9783,0132,3572,0552,038
Intangible assets1515444644934404021,0961,091619564474394364
Investments403461502547592318820n/an/an/an/an/an/a
Cash and equivalents7985784445457398321,6501,8411,3381,5342,0942,313n/a
Receivables1,4441,6651,6892,0191,9871,9212,9192,8982,4713,1092,8432,9623,056
Inventory5067246417667818071,2861,5341,2171,3131,2511,2071,232
Other assets6271,0348916717996555,6316,3578,3714,9204,9744,8387,244
Total assets7,2289,2108,8359,78810,0959,70216,02916,57516,99414,45313,99313,76913,934
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.0%7.1%4.3%2.2%
Profit growth, compounded-7.1%-11.1%-33.5%97.6%
Return on equity, average11.9%8.5%7.3%5.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Automobiles and Trucks

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Stellantis N.V. STLA *$13.1 billionn/a-41.8%-17.1%-2.1%0.8616.9%
Borgwarner Inc. BWA$12.6 billion30.867.4%5.0%2.2%0.690.9%
Li Auto Inc. LI *$11.1 billion68.221.5%-0.5%-22.3%0.13n/a
Aptiv plc APTV$9.2 billion41.712.5%5.3%-5.4%0.610.0%
XPeng Inc. XPEV *$9.1 billionn/a-3.8%-3.6%87.7%0.42n/a
Allison Transmission Holdings Inc. ALSN$9.0 billion17.3526.7%19.6%37.6%2.071.0%
NIO Inc. NIO *$8.5 billionn/a-374.3%-16.0%33.1%3.36n/a
Autoliv Inc. ALV$8.1 billion13.0825.8%9.2%5.9%0.682.8%
Oshkosh Corp. OSK$7.9 billion14.5712.3%7.5%2.2%0.131.6%
Lear Corp. LEA$5.8 billion11.0510.7%3.7%3.5%0.520.6%
Gentex Corp. GNTX$4.5 billion11.1916.0%19.3%10.1%0.002.3%
Visteon Corp. VC$2.3 billion11.268.9%n/a-1.1%0.180.4%
All 22 in Automobiles and Trucks
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Tesla, Inc. TSLA$1.48 trillion347.224.4%4.2%11.8%0.09n/a
Toyota Motor Corp. TM *$220.3 billion9.949.6%7.4%5.5%1.083.7%
General Motors Co. GM$72.1 billion41.543.1%1.0%-1.1%2.060.7%
Ferrari N.V. RACE *$68.8 billion38.4940.9%29.5%7.0%0.740.9%
Paccar Inc. PCAR$57.7 billion23.0412.3%n/a-10.6%0.722.5%
Ford Motor Co. F$48.8 billionn/a-20.7%-3.7%1.5%4.516.1%
Honda Motor Co. Ltd. HMC *$42.1 billionn/a-3.6%-1.9%0.5%1.144.5%
Stellantis N.V. STLA *$13.1 billionn/a-41.8%-17.1%-2.1%0.8616.9%
Borgwarner Inc. BWA$12.6 billion30.867.4%5.0%2.2%0.690.9%
Li Auto Inc. LI *$11.1 billion68.221.5%-0.5%-22.3%0.13n/a
Aptiv plc APTV$9.2 billion41.712.5%5.3%-5.4%0.610.0%
XPeng Inc. XPEV *$9.1 billionn/a-3.8%-3.6%87.7%0.42n/a
Allison Transmission Holdings Inc. ALSN$9.0 billion17.3526.7%19.6%37.6%2.071.0%
NIO Inc. NIO *$8.5 billionn/a-374.3%-16.0%33.1%3.36n/a
Autoliv Inc. ALV$8.1 billion13.0825.8%9.2%5.9%0.682.8%
Oshkosh Corp. OSK$7.9 billion14.5712.3%7.5%2.2%0.131.6%
Terex Corp. TEX$6.0 billion26.713.0%5.7%29.2%0.541.3%
Lear Corp. LEA$5.8 billion11.0510.7%3.7%3.5%0.520.6%
Gentex Corp. GNTX$4.5 billion11.1916.0%19.3%10.1%0.002.3%
Thor Industries Inc. THO$3.4 billion19.504.2%n/a0.3%0.203.1%
Polaris Inc. PII$3.0 billionn/a-31.1%-2.6%8.4%2.295.1%
Visteon Corp. VC$2.3 billion11.268.9%n/a-1.1%0.180.4%
6 companies share its SEC industry code (Motor Vehicle Parts & Accessories); the rest are the names nearest in size in its wider industry, Automobiles and Trucks, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202511 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K31 December 20246 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 202431 July 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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