BROADWIND, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BROADWIND, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	181	147	125	178	198	146	177	203	143	158
Cost of revenue	163	139
Gross profit	18.1	8.16	3.07	15.4	18	5.51	10.7	32.5	21.2	16.1
Selling, general and administrative	15.8	13.8	13.6	16.1	16.8	17.4	16.6	20.7	16.3	15
Operating expenses	16.2	15.6	28.1	17.8	17.6	18.1	17.3	21.4	17	7.48
Operating income	1.91	-7.43	-25.1	-2.36	0.42	-12.6	-6.61	11.1	4.23	8.65
Interest income	0.05	0.01	0.01	0	0	0	0	0.01	0.01	0.01
Other non-operating income	-0.58	-0.8	0.86	-2.19	-1.86	15.5	-3.09	-3.25	-3	-3.32
Pre-tax income	1.33	-8.23	-24.2	-4.55	-1.44	2.87	-9.7	7.89	1.23	5.33
Income tax	-0	-5.05	-0.21	0.04	0.05	0.03	0.04	0.24	0.07	0.09
Income from continuing operations	1.34	-3.18	-24	-4.59	-1.49
Net income	0.32	-3.64	-24.1	-4.52	-1.49	2.85	-9.73	7.65	1.15	5.24
EBITDA	8.82	1.57	-15.9	5.14	6.7	-6.26	-0.55	17.5	10.9	15
EPS, basic	0.02	-0.24	-1.56	-0.28	-0.09	0.15	-0.48	0.36	0.05	0.23
EPS, diluted	0.02	-0.24	-1.56	-0.28	-0.09	0.15	-0.48	0.36	0.05	0.23
Shares, basic (weighted)	14.8	15.1	15.5	16.1	16.7	18.7	20.3	21.2	21.9	22.9
Shares, diluted (weighted)	15.1	15.1	15.5	16.1	16.7	19.4	20.3	21.5	22	23

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	18.7	0.08	1.18	2.42	3.37	0.85	12.7	1.1	7.72	0.46
Short-term investments	3.17	0
Receivables	11.9	13.6	17.5	18.3	15.3	13.8	17	19.2	13.5	11.2
Inventory	21.2	19.3	22.7	31.9	26.7	33.4	44.3	37.4	40	28.1
Other current assets	2.45	1.8	1.78	2.12	2.91	2.66	3.29	3.5	2.37	2.06
Total current assets	58.2	35.4	43.1	54.7	50.6	52.3	79.3	69.7	66.9	64.3
Property, plant and equipment	54.6	55.7	49.1	46.9	45.2	43.7	45.3	47.1	45.6	18.1
Lease right-of-use assets				16	19.3	18	16.4	15.6	13.8	11.9
Goodwill		4.99	4.99	16
Intangible assets	4.57	16.1	6.6	4.92	4.19	3.45	2.73	2.06	1.4	0.74
Other non-current assets	0.29	0.21	0.4	0.31	0.39	0.59	0.84	0.63	0.61	0.44
Total assets	118	112	99.2	123	120	118	145	135	128	117
Accounts payable	15.9	11.8	11.6	21.9	18.2	16.5	26.3	20.7	16.1	7.73
Accrued liabilities	8.43	4.39	3.81	4.91	6.31	3.65	4.31	6.48	3.61	1.77
Short-term debt		0.11	11.9	12.9	2.83	8.71	3.18	8.06	3.72	7.15
Total current liabilities	43.3	41	51.9	64.3	48	42.7	70.2	53.6	43.6	31.7
Long-term debt	2.6	0.8	1.41	0.51	9.38	0.18	7.14	6.25	7.74	4.33
Lease liabilities				16.6	19.6	18.4	16.7	15.9	13.8	11.3
Other non-current liabilities	2.19	3.56	1.97	0.04	0.1	0.17	0.03	0.02	0.02	0
Total liabilities	49.1	46.3	55.8	82.1	79	63.9	98.3	79.1	68.9	50.5
Total debt	4.1	16.8	14.9	0.34	0.23	6.83	8.31	12.2	9.2	9.01
Paid-in capital	379	380	381	383	385	395	397	399	402	403
Retained earnings	-308	-312	-336	-341	-342	-339	-349	-341	-340	-335
Treasury stock	-1.84	-1.84	-1.84	-1.84	-1.84	-1.84	-1.84	-1.84	-1.84	-1.84
Shareholders' equity	68.6	66.1	43.4	40.8	40.7	54.1	46.3	56	59.4	66.3
Total equity	68.6	66.1	43.4	40.8	40.7	54.1	46.3	56	59.4	66.3
Total liabilities and equity	118	112	99.2	123	120	118	145	135	128	117

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.32	-3.64	-24.1	-4.52	-1.49	2.85	-9.73	7.65	1.15	5.24
Depreciation and amortization	6.91	9	9.18	7.5	6.28	6.34	6.06	6.38	6.68	6.31
Stock-based compensation	0.75	0.81	0.8	0.96	1.3	1.54	0.94	0.88	1.16	0.64
Deferred income tax	5.71	32.1	-6.94	-1.01	4.05	-1.94	-2.56	-1.97	-1.28	-1.53
Change in receivables	-2.14	0.88	-3.78	-0.79	2.63	1.96	-3.19	-2.3	5.78	-2.49
Change in inventory	3.06	7.06	-2.94	-9.19	5.14	-6.65	-10.9	6.86	-2.55	-2.48
Change in payables	0.99	-5.29	0.8	9.77	-3.32	-1.74	9.93	-6.01	-4.39	1.36
Cash from operations	17.3	-9.35	2.05	4.52	5.33	-12.8	16.6	-6.95	13.8	-15.4
Capital expenditures	-6.62	-6.69	-2.32	-1.84	-1.55	-1.71	-3.1	-6.41	-3.62	-3.63
Acquisitions		-16.4
Sales and maturities of investments	9.17	0.95
Cash from investing	-3.16	-19.9	-1.65	-1.84	-1.55	-1.67	-3.1	-6.38	-3.46	8.89
Debt issued		0.46	2.06	177
Debt repaid	-2.8		-0.76	-0.94
Stock issued	0.02		0.03
Cash from financing	-3.32	10.7	0.81	-1.44	-2.83	12	-1.67	1.7	-3.73	-0.77
Net change in cash	12.2	-18.7	1.1	1.24	0.96	-2.52	11.9	-11.6	6.62	-7.27
Free cash flow	10.7	-16	-0.28	2.68	3.78	-14.5	13.5	-13.4	10.2	-19
Interest paid	0.49	0.59	1.17	1.62	1.45	0.74	1.64	2.07	1.56	1.43
Income taxes paid	0.02	0.04	0.12	0.05	0.08	0.1	0.02	0.02	0.19	0.16

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.7%	Gross profit / revenue.
Operating margin	6.7%	Operating income / revenue.
EBITDA margin	9.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.4%	Pre-tax income / revenue.
Net margin	3.3%	Net income / revenue.
Effective tax rate	2.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.9%	Net income / average total assets.
Return on invested capital (ROIC)	20.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	9.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.9%	Capital expenditures / revenue.
D&A / revenue	3.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-4.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-23.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-2.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	104.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	83.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	37.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	17.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	355.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	360.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-211.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-286.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	11.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-9.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-6.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.72x	Current assets / current liabilities.
Quick ratio	1.20x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.60x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.05x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	2.9%	Total debt / total assets.
Liabilities / assets	41.3%	Total liabilities / total assets.
Net debt	-$13.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.85x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$48.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$65.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.47x	Revenue / average total assets.
Fixed asset turnover	8.20x	Revenue / average property, plant and equipment.
Receivables turnover	9.71x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.23	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.03	Revenue / diluted weighted shares.
Book value per share	$2.80	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.78	Tangible book value / shares outstanding.
Cash per share	$0.73	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$100.1M	Share price x shares outstanding.
Enterprise value	$86.3M	Market cap + total debt - cash - short-term investments.
P/E	18.3x	Market cap / net income. Only when net income is positive.
P/S	0.61x	Market cap / revenue.
P/B	1.52x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.53x	Market cap / tangible book value, when positive.
EV/Sales	0.52x	Enterprise value / revenue.
EV/EBIT	7.86x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.33x	Enterprise value / EBITDA, when both are positive.
Earnings yield	5.5%	Net income / market cap (the inverse of P/E).

What was BROADWIND, INC.'s revenue in fiscal 2025?

BROADWIND, INC. reported revenue of $158.1M for fiscal 2025, 10.4% higher than the year before.

Was BROADWIND, INC. profitable in fiscal 2025?

Yes. Net income was $5.2M, a net margin of 3.3%.

How much free cash flow did BROADWIND, INC. generate in fiscal 2025?

Cash from operations of $15.4M minus capital expenditures of $3.6M left free cash flow of -$19.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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