BWX Technologies, Inc.
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 23, 2026
BWXT$127.99+7.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
INDEX – FORM 10-K
| PAGE | ||
|---|---|---|
| PART I | ||
| Item 1. | Business | 1 |
| General | 1 | |
| Business Segments | 1 | |
| Contracts | 3 | |
| Backlog | 4 | |
| Competition | 5 | |
| Joint Ventures | 6 | |
| Customers | 7 | |
| Raw Materials and Suppliers | 7 | |
| Human Capital Management | 7 | |
| Patents and Technology Licenses | 9 | |
| Research and Development Activities | 9 | |
| Hazard Risks and Insurance | 9 | |
| Governmental Regulations and Environmental Matters | 11 | |
| Cautionary Statement Concerning Forward-Looking Statements | 13 | |
| Available Information | 14 | |
| Item 1A. | Risk Factors | 14 |
| Item 1B. | Unresolved Staff Comments | 26 |
| Item 1C. | Cybersecurity | 27 |
| Item 2. | Properties | 29 |
| Item 3. | Legal Proceedings | 29 |
| Item 4. | Mine Safety Disclosures | 29 |
| PART II | ||
| Item 5. | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 30 |
| Item 6. | [Reserved] | 31 |
| Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| General | 32 | |
| Critical Accounting Estimates | 33 | |
| Results of Operations | ||
| Years Ended December 31, 2025, 2024 and 2023 | 36 | |
| Effects of Inflation and Changing Prices | 38 | |
| Liquidity and Capital Resources | 38 | |
| Item 7A. | Quantitative and Qualitative Disclosures about Market Risk | 43 |
| Item 8. | Financial Statements and Supplementary Data | |
| Report of Independent Registered Public Accounting Firm | 45 | |
| Consolidated Statements of Income | ||
| Years Ended December 31, 2025, 2024 and 2023 | 47 | |
| Consolidated Statements of Comprehensive Income | ||
| Years Ended December 31, 2025, 2024 and 2023 | 48 | |
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| PAGE | ||
|---|---|---|
| Consolidated Balance Sheets | ||
| December 31, 2025 and 2024 | 49 | |
| Consolidated Statements of Stockholders' Equity | ||
| Years Ended December 31, 2025, 2024 and 2023 | 51 | |
| Consolidated Statements of Cash Flows | ||
| Years Ended December 31, 2025, 2024 and 2023 | 52 | |
| Notes to Consolidated Financial Statements | 53 | |
| Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 94 |
| Item 9A. | Controls and Procedures | |
| Disclosure Controls and Procedures | 94 | |
| Management’s Report on Internal Control Over Financial Reporting | 94 | |
| Changes in Internal Control Over Financial Reporting | 94 | |
| Report of Independent Registered Public Accounting Firm | 95 | |
| Item 9B. | Other Information | 96 |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 96 |
| PART III | ||
| Item 10. | Directors, Executive Officers and Corporate Governance | 97 |
| Item 11. | Executive Compensation | 97 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 97 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 97 |
| Item 14. | Principal Accounting Fees and Services | 97 |
| PART IV | ||
| Item 15. | Exhibits, Financial Statement Schedules | 98 |
| Signatures | 102 | |
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