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Babcock & Wilcox (BW): Undervalued Penny Stock in Renewable Energy
Mon 14 Oct 24, 03:27 PM10th Annual Gateway Conference to Virtually Showcase Leading Companies on September 8-9, 2021
Tue 24 Aug 21, 05:30 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | -15.50000M | 29.30M | -3.90000M | -124.40000M | -555.80100M |
| Minority interest | -3.72300M | 0.64M | 0.02M | 1.42M | 8.83M |
| Net income | -26.60000M | 30.90M | -12.10000M | -129.70000M | -725.29200M |
| Selling general administrative | 187.00M | 168.00M | 154.60M | 179.00M | 223.33M |
| Selling and marketing expenses | -8.50000M | - | - | - | - |
| Gross profit | 185.60M | 179.60M | 165.80M | 160.20M | -129.64400M |
| Reconciled depreciation | 23.99M | 18.34M | 16.80M | 23.61M | 32.00M |
| Ebit | 29.10M | 57.50M | 11.90M | 2.50M | -432.92100M |
| Ebitda | 53.10M | 75.80M | 28.70M | 26.10M | -400.91800M |
| Depreciation and amortization | 24.00M | 18.30M | 16.80M | 23.60M | 32.00M |
| Non operating income net other | 33.64M | 47.89M | 57.62M | -0.16200M | -79.56100M |
| Operating income | 29.10M | 57.50M | 11.90M | 2.50M | -426.60000M |
| Other operating expenses | 895.00M | 713.40M | 559.50M | 880.80M | 1419.14M |
| Interest expense | 45.00M | 39.40M | 59.80M | 94.90M | 26.67M |
| Tax provision | 11.10M | -2.22400M | 8.20M | 5.29M | 102.22M |
| Interest income | 45.00M | 0.53M | 0.60M | 110.58M | 77.91M |
| Net interest income | -44.34200M | -38.86200M | -60.20000M | -93.97800M | -49.36900M |
| Extraordinary items | 0.00000M | 0.00000M | 1.80M | 0.69M | -66.83200M |
| Non recurring | -1.05200M | -10.86800M | 8.59M | 7.77M | 58.28M |
| Other items | - | - | - | - | - |
| Income tax expense | 11.10M | -2.20000M | 8.20M | 5.30M | 102.22M |
| Total revenue | 889.80M | 723.40M | 566.30M | 859.10M | 1062.39M |
| Total operating expenses | 190.80M | 169.60M | 159.00M | 181.90M | 227.11M |
| Cost of revenue | 704.20M | 543.80M | 400.50M | 698.90M | 1192.03M |
| Total other income expense net | -44.60000M | -28.20000M | -15.80000M | -126.90000M | -149.67700M |
| Discontinued operations | - | - | 1.80M | 0.69M | -66.83200M |
| Net income from continuing ops | -26.58400M | 31.54M | -12.09700M | -129.73300M | -658.02500M |
| Net income applicable to common shares | -37.70000M | 21.77M | -10.31800M | -121.97400M | -725.29200M |
| Preferred stock and other adjustments | 14.86M | 9.13M | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 775.70M | 942.70M | 913.30M | 591.80M | 626.40M |
| Intangible assets | 45.63M | 60.30M | 43.80M | 23.90M | 25.30M |
| Earning assets | - | - | - | - | - |
| Other current assets | 42.41M | 27.10M | 29.30M | 26.50M | 26.90M |
| Total liab | 976.05M | 944.80M | 854.70M | 930.10M | 921.40M |
| Total stockholder equity | -200.96100M | -2.60000M | 33.10M | -339.40000M | -296.40000M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 130.13M | 90.30M | 80.30M | 129.30M | 130.00M |
| Common stock | 5.15M | 5.10M | 5.10M | 4.80M | 4.70M |
| Capital stock | 5.22M | 5.21M | 5.19M | 4.78M | 4.70M |
| Retained earnings | -1570.94200M | -1358.90000M | -1321.20000M | -1350.20000M | -1339.90000M |
| Other liab | - | 169.99M | 217.30M | 274.87M | 280.12M |
| Good will | 101.96M | 157.00M | 116.50M | 47.40M | 47.20M |
| Other assets | 0.00000M | 52.00M | 42.58M | -0.10000M | -0.20000M |
| Cash | 71.04M | 76.70M | 224.90M | 57.30M | 43.80M |
| Cash and equivalents | - | 76.70M | 224.87M | 57.34M | 43.77M |
| Total current liabilities | 350.20M | 372.00M | 253.40M | 270.80M | 602.50M |
| Current deferred revenue | 81.10M | 133.40M | 68.40M | 64.00M | 75.30M |
| Net debt | 365.30M | 335.20M | 177.90M | 331.00M | 274.00M |
| Short term debt | 11.47M | 9.10M | 18.80M | 4.00M | 287.30M |
| Short long term debt | 6.17M | 4.29M | 12.38M | - | 282.95M |
| Short long term debt total | 436.34M | 411.90M | 402.80M | 388.30M | 317.80M |
| Other stockholder equity | 1431.12M | 1423.90M | 1407.90M | 1058.40M | 1036.90M |
| Property plant equipment | - | 115.80M | 115.79M | 95.89M | 109.55M |
| Total current assets | 497.59M | 557.60M | 582.40M | 388.80M | 412.20M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | -219.93700M | -127.18500M | -410.63700M | -368.81600M |
| Short term investments | - | - | - | - | - |
| Net receivables | 270.25M | 335.90M | 246.90M | 223.00M | 257.10M |
| Long term debt | 373.31M | 348.70M | 327.91M | 347.63M | - |
| Inventory | 113.89M | 102.60M | 79.50M | 67.20M | 63.10M |
| Accounts payable | 127.49M | 139.20M | 85.90M | 73.50M | 109.90M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | 0.48M | 25.47M | 1.10M | 1.42M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -66.36100M | -72.80000M | -58.80000M | -52.40000M | 1.90M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | 5.14M | 5.11M | 4.78M | 4.70M |
| Preferred stock total equity | - | 0.08M | 0.08M | - | - |
| Retained earnings total equity | - | -1358.87500M | -1321.15400M | -1350.20600M | -1339.88800M |
| Treasury stock | - | - | -110.93400M | -105.99000M | -105.70700M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 14.51M | 52.00M | 54.80M | 35.90M | 32.30M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 278.11M | 385.10M | 330.90M | 203.10M | 214.40M |
| Capital lease obligations | 56.85M | 58.84M | 62.45M | 40.72M | 43.16M |
| Long term debt total | - | 376.20M | 327.91M | 347.63M | 30.45M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | 3.39M | 3.09M | -2.50500M | 2.63M | 29.15M |
| Change to liabilities | 33.51M | -42.83000M | -35.28000M | -102.28700M | 29.03M |
| Total cashflows from investing activities | -68.70000M | -33.54100M | 2.22M | 8.78M | 179.22M |
| Net borrowings | 5.38M | 278.76M | 44.71M | 126.46M | -191.67200M |
| Total cash from financing activities | -11.20000M | 302.80M | 44.10M | 167.00M | 82.61M |
| Change to operating activities | -53.26700M | -126.95700M | -52.13200M | -90.42900M | 28.46M |
| Net income | -26.60000M | 31.50M | -10.30000M | -129.00000M | -652.54800M |
| Change in cash | -113.20000M | 159.30M | 10.50M | -3.40000M | -9.41800M |
| Begin period cash flow | 226.70M | 67.40M | 56.90M | 60.30M | 69.70M |
| End period cash flow | 113.50M | 226.70M | 67.40M | 56.90M | 60.28M |
| Total cash from operating activities | -30.60000M | -111.20000M | -40.80000M | -176.30000M | -281.88500M |
| Issuance of capital stock | 0.00000M | 274.12M | 0.00000M | 1.39M | 1.24M |
| Depreciation | 24.00M | 18.30M | 16.80M | 23.60M | 32.00M |
| Other cashflows from investing activities | -55.50000M | -29.95100M | 12.95M | 9.95M | 155.55M |
| Dividends paid | -14.90000M | -9.10000M | 9.13M | -482.60000M | 839.05M |
| Change to inventory | -19.00000M | -3.00000M | -4.10000M | -4.10000M | 10.34M |
| Change to account receivables | -28.20000M | 0.20M | 21.70M | 63.90M | 80.38M |
| Sale purchase of stock | -2.80000M | -4.90000M | -0.30000M | -0.10000M | -0.80500M |
| Other cashflows from financing activities | 25.80M | 411.00M | 218.00M | 948.20M | 1655.73M |
| Change to netincome | -1.76100M | -0.48300M | -52.49700M | 7.57M | 83.42M |
| Capital expenditures | 13.20M | 6.70M | 8.20M | 3.80M | 5.47M |
| Change receivables | -28.21700M | 0.23M | 21.67M | 63.91M | 80.38M |
| Cash flows other operating | -17.80100M | -122.85400M | 6.13M | -97.12000M | 222.20M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | -110.60200M | 158.07M | 5.51M | -0.52000M | -20.04800M |
| Change in working capital | -39.70000M | -143.30000M | -56.20000M | -132.60000M | 79.93M |
| Stock based compensation | 10.00M | 7.80M | 4.60M | 3.10M | 2.25M |
| Other non cash items | -4.20000M | -17.80000M | 2.50M | 59.50M | 158.41M |
| Free cash flow | -43.80000M | -117.90000M | -49.00000M | -180.10000M | -287.35800M |
Sector: Industrials Industry: Specialty Industrial Machinery
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| BW Babcock & Wilcox Enterprises Inc |
0.55 4.08% | 14.04 | - | 140.85 | 0.22 | 60.56 | 0.78 | 29.06 |
| SIEGY Siemens AG ADR |
3.48 2.67% | 133.93 | 17.07 | 15.75 | 1.88 | 2.76 | 2.37 | 11.38 |
| SMAWF Siemens AG Class N |
-1.68 0.62% | 268.82 | 16.98 | 15.53 | 1.83 | 2.72 | 2.35 | 11.32 |
| GE GE Aerospace |
4.59 1.43% | 326.52 | 12.87 | 26.60 | 1.61 | 4.69 | 1.61 | 8.43 |
| SBGSY Schneider Electric SA |
0.66 1.14% | 58.79 | 25.90 | 20.92 | 3.12 | 3.98 | 3.50 | 17.37 |
Babcock & Wilcox Enterprises, Inc., together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal. The Babcock & Wilcox Renewable segment offers technologies divert the waste from landfills for power generation and replacing fossil fuels and recovering metals and reducing emissions. It offers BrightLoop, a hydrogen generation technology that generates hydrogen from a range of fuels, including solid fuels, such as biomass and coal. This segment also provides technologies for power and heat generation comprising waste-to-energy; OxyBright, an oxygen-fired biomass-to-energy technology; and black liquor systems for the pulp and paper industry. The Babcock & Wilcox Environmental segment offers a range of emissions control and environmental technology solutions for utility, waste to energy, biomass, carbon black, and industrial steam generation applications. This segment provides systems for cooling, ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control under the SolveBright, OxyBright, BrightLoop, and BrightGen names. The Babcock & Wilcox Thermal segment offers aftermarket parts, construction, maintenance, engineered upgrades, and field services for its installed bases, as well as the installed base of other OEMs for power generation, oil and gas, petrochemical, food and beverage, metals and mining, and others. This segment also provides steam generation systems, including package boilers, watertube and firetube waste heat boilers, and other boilers to medium and heavy industrial customers. Babcock & Wilcox Enterprises, Inc. was founded in 1867 and is based in Akron, Ohio.
1200 East Market Street, Akron, OH, United States, 44305
| Name | Title | Year Born |
|---|---|---|
| Mr. Kenneth M. Young | CEO & Chairman | 1964 |
| Mr. Louis Salamone Jr. | CFO & Chief Accounting Officer | 1947 |
| Mr. Jimmy B. Morgan | Exec. VP & COO | 1969 |
| Mr. John J. Dziewisz | Exec. VP, Gen. Counsel, Corp. Sec. & Chief Compliance Officer | 1966 |
| Ms. Brandy Johnson | Chief Strategy & Technology Officer | NA |
| Mr. Wassim Moussaoui | Managing Director of Babcock & Wilcox Middle East Holdings | NA |
| Mr. Gary Cochrane | Managing Director of European region | NA |
| Kim Bredahl | Sr. VP of Green Energy Unit | NA |
| Mr. Kim Bredhal | Sr. VP | NA |
| Mr. Joe Buckler | Sr. VP of Clean Energy | NA |
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