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BWX TechnologiesBWXT -1.22%94 Net-Net Working Capital is $-25.24 as of Mar. 2026. GuruFocus rates BWXT with a GF Score™ of 94/100 and a GF Value™ of $142.90 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 119 Aerospace & Defense companies, BWX Technologies ranks worse than 840335.29% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
BWX Technologies's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-25.24.
The industry rank for BWX Technologies's Net-Net Working Capital or its related term are showing as below:
BWXT's Price-to-Net-Net-Working-Capital is not ranked *
in the Aerospace & Defense industry.
Industry Median: 9.67 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
BWX Technologies (NYSE:BWXT) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
BWX Technologies Net-Net Working Capital Related Terms
BWX Technologies Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for BWX Technologies's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BWXT vs ARXS, TXT, MOG.A: Net-Net Working Capital Comparison
For the Aerospace & Defense subindustry, BWX Technologies's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
BWX Technologies Price-to-Net-Net-Working-Capital vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, BWX Technologies's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where BWX Technologies's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $-25.24 mean?
BWX Technologies (BWXT) has a Net-Net Working Capital of $-25.24 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on BWX Technologies According to the industry distribution chart, BWX Technologies ranks #999999 out of 119 companies in the Aerospace & Defense industry.
Is BWX Technologies' Net-Net Working Capital too high?
BWX Technologies' current Net-Net Working Capital is $-25.24. Based on the distribution chart, BWX Technologies ranks #999999 out of 119 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, BWX Technologies has a GF Score™ of 94/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BWX Technologies' Net-Net Working Capital compare to ARXS and TXT?
According to the Aerospace & Defense industry distribution chart, BWX Technologies ranks #999999 out of 119 companies for Net-Net Working Capital. This places BWX Technologies in the lower half of its industry. The industry median Net-Net Working Capital is 9.67. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for an Aerospace & Defense company?
The median Net-Net Working Capital among Aerospace & Defense companies is 9.67, based on 119 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on BWX Technologies For the Aerospace & Defense industry, the median Net-Net Working Capital is 9.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BWX Technologies's current Net-Net Working Capital is $-25.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BWX Technologies stock overvalued right now?
Based on GuruFocus' analysis, BWX Technologies (BWXT) is currently considered Modestly Overvalued. The stock's GF Value™ is $142.90, compared to a current price of $174.52 — trading 22.1% above its estimated fair value. The current Net-Net Working Capital is $-25.24. BWX Technologies' overall GF Score™ is 94/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For BWX Technologies (BWXT), the current Net-Net Working Capital is $-25.24 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is BWX Technologies (BWXT) Overvalued in 2026?
Based on GuruFocus' analysis, BWX Technologies stock appears to be overvalued.
The current stock price of $174.52 is trading 22.1% above its estimated GF Value™ of $142.90.
GuruFocus considers BWX Technologies to be Modestly Overvalued.
Key valuation signals for BWXT:
Net-Net Working Capital: $-25.24
GF Value™: $142.90 vs. price of $174.52 (22.1% above fair value)
No single metric tells the full story. See the BWXT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BWX Technologies Inc is a specialty manufacturer and service provider of nuclear components, operating in two segments: Government Operations and Commercial Operations. The Government Operations segment produces naval nuclear reactors and fuel for the U.S. Naval Nuclear Propulsion Program, while the Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, reactor components, and other auxiliary equipment, including containers for the storage of spent nuclear fuel and other high-level nuclear waste. The majority of the company's revenue comes from Government Operations, with sales principally in the United States, Canada, and other regions.
94GF Score
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