BWX Technologies (BWXT) FY2023 results: revenue $2.5 billion, up 11.8% on the year
BWX Technologies, Inc. (BWXT) reported revenue of $2.5 billion for fiscal 2023, the year ended 31 December 2023, up 11.8% on the year before. Net income was $246 million, up 3.2%, and diluted earnings per share $2.68. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$2.5 billion
+11.8% on the year
FY2016FY2023
Operating margin
15.3%
15.6% a year earlier
FY2016FY2023
Net income
$246 million
+3.2% on the year
FY2016FY2023
Diluted EPS
$2.68
+3.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. 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.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
364
245
386
+48.6%
Capital expenditure
151
198
311
-23.7%
Free cash flow
212
46.4
75.0
+357.9%
Free cash flow margin
8.5%
2.1%
3.5%
Cash from investing
-156
-256
-305
Cash from financing
-169
14.0
-90.1
Depreciation and amortisation
78.6
73.8
69.1
+6.4%
Share-based compensation
15.9
14.1
18.6
+12.5%
Buybacks
0.0
20.0
226
Dividends paid
85.0
81.1
79.7
+4.8%
Dividend per share
$0.92
$0.88
$0.84
+4.5%
Diluted shares, weighted
92m
92m
95m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
933
748
637
+24.7%
Non-controlling interest
-0.1
0.0
0.1
Debt
1,210
1,289
1,189
-6.1%
Other liabilities
604
582
675
+3.8%
Total liabilities and equity
2,747
2,619
2,501
+4.9%
Fixed assets
1,229
1,135
1,046
+8.2%
Goodwill
297
293
286
+1.3%
Intangible assets
186
194
186
-4.2%
Investments
0.0
3.8
3.8
Cash and equivalents
75.8
35.2
33.9
+115.0%
Receivables
70.2
60.8
70.7
+15.5%
Inventory
27.4
22.9
16.3
+19.7%
Other assets
863
875
860
-1.4%
Total assets
2,747
2,619
2,501
+4.9%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.