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BWA

BorgWarner Inc.

BWA

BorgWarner Inc. • NYSE
$43.07 ▲ 0.26% (+0.11)
Market Cap $9.30 B
52w High $46.39
52w Low $24.40
Dividend Yield 0.50%
P/E 60.66
Volume 999.58K
Outstanding Shares 216.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.59B ▼ $342M ▲ $158M ▼ 4.401% ▼ $0.73 ▼ $498M ▲
Q2-2025 $3.638B ▲ $314M ▼ $224M ▲ 6.157% ▲ $1.04 ▲ $493M ▲
Q1-2025 $3.515B ▲ $317M ▼ $157M ▲ 4.467% ▲ $0.72 ▲ $421M ▲
Q4-2024 $3.437B ▼ $342M ▲ $-405M ▼ -11.784% ▼ $-1.85 ▼ $-107M ▼
Q3-2024 $3.448B $341M $234M 6.787% $1.05 $485M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.172B ▲ $14.496B ▲ $8.346B ▲ $5.989B ▲
Q2-2025 $2.041B ▲ $14.399B ▲ $8.33B ▲ $5.923B ▲
Q1-2025 $1.707B ▼ $13.83B ▼ $7.94B ▼ $5.72B ▲
Q4-2024 $2.094B ▲ $13.993B ▼ $8.287B ▼ $5.532B ▼
Q3-2024 $2B $15.137B $8.785B $6.156B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $173M ▲ $368M ▼ $-88M ▼ $-147M ▲ $131M ▼ $257M ▼
Q2-2025 $-171M ▼ $579M ▲ $-64M ▲ $-209M ▲ $334M ▲ $698M ▲
Q1-2025 $171M ▲ $82M ▼ $-94M ▲ $-397M ▲ $-387M ▼ $-37M ▼
Q4-2024 $-403M ▼ $679M ▲ $-143M ▲ $-417M ▼ $94M ▼ $518M ▲
Q3-2024 $242M $347M $-147M $492M $712M $192M

Revenue by Products

Product Q2-2023Q3-2023Q4-2023Q2-2024
Air Management
Air Management
 $2.00Bn ▲$1.95Bn ▼$1.85Bn ▼$1.97Bn ▲
Drivetrain
Drivetrain
 $0 ▲$0 ▲$0 ▲$1.20Bn ▲
ePropulsion Drivetrain
ePropulsion Drivetrain
 $0 ▲$570.00M ▲$0 ▼$460.00M ▲
Fuel Systems
Fuel Systems
 $550.00M ▲$1.15Bn ▲$0 ▼$0 ▲
After Market
After Market
 $340.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady in recent years, but profits have been more volatile. Sales peaked earlier in the decade and have eased slightly, while gross profit has held up reasonably well. The more noticeable change is at the operating and net income level, where earnings have weakened recently despite solid scale. This suggests margin pressure from factors like cost inflation, product mix shifts, and heavier spending on electrification and restructuring. Overall, it still looks like a healthy top line with profitability under some strain during the EV transition phase.

Balance Sheet

Balance Sheet The balance sheet shows a large, established industrial business that has slimmed down a bit but remains solid. Total assets have edged lower, likely reflecting portfolio reshaping rather than distress. Cash on hand has improved in the most recent period, giving the company more flexibility. Debt levels are meaningful but not out of line for a capital‑intensive supplier, though equity has drifted down, which means leverage has crept higher. There is still a reasonable financial cushion, but less room for prolonged weak profitability without making trade-offs on investment, dividends, or debt reduction.

Cash Flow

Cash Flow Cash generation is a relative bright spot. Operating cash flow has been consistently strong across the cycle, even as reported earnings moved around. Free cash flow has stayed positive every year after funding a steady and, lately, somewhat heavier level of capital spending. That spending reflects investment in new technologies rather than emergency outlays, which is a constructive sign. In practical terms, the company appears able to fund its strategic transition largely from internal cash, reducing reliance on new borrowing—but if margins remain pressured, the buffer between cash generation and investment needs could narrow.

Competitive Edge

Competitive Edge BorgWarner holds a strong position as a key global auto parts supplier, especially in powertrain and driveline systems. It benefits from deep, long-standing relationships with major automakers and is often a top supplier in its traditional product lines. A major advantage is its ability to supply both conventional combustion components and advanced electrified systems, giving customers a one‑stop option across different vehicle types. At the same time, the company operates in a highly competitive and price‑sensitive industry, faces pressure from large global peers and fast‑moving Asian suppliers, and must manage the gradual decline of internal combustion volumes while winning enough electrification business to offset that trend.

Innovation and R&D

Innovation and R&D Innovation is a central part of BorgWarner’s strategy. The “Charging Forward” plan and the Delphi Technologies acquisition have shifted its focus deeper into electric and hybrid propulsion, power electronics, and software. Key areas include integrated electric drive modules, high‑voltage silicon carbide inverters, and advanced thermal management systems for EV batteries and powertrains. The company’s strength lies in providing complete, integrated systems rather than stand‑alone parts, which can make it more valuable to automakers. The flip side is that this demands heavy, sustained R&D spending and flawless execution in a fast‑evolving technology landscape, where design wins can take years to turn into stable, profitable revenue.

Summary

BorgWarner looks like a mature auto supplier in the middle of a major technological transition. The business retains solid scale and dependable cash generation, but earnings and margins have come under pressure as the company invests heavily in electrification and navigates softer profitability in some legacy areas. The balance sheet appears sound, with higher cash and manageable debt, though the gradual reduction in equity means there is less margin for error over the long run. Strategically, its combination of strong customer relationships, leading positions in traditional powertrain, and a growing portfolio of EV systems creates meaningful opportunity—but also exposes it to execution risk around the timing and profitability of the shift from combustion to electric. How well BorgWarner converts its innovation pipeline into durable, higher‑margin EV revenue while protecting its financial strength will be the key theme to watch over the next several years.

NEWS

November 13, 2025 · 6:30 AM UTC

BORGWARNER DECLARES QUARTERLY DIVIDEND

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November 4, 2025 · 9:00 AM UTC

BorgWarner Included in Forbes' America's Best Employers for Engineers 2026 Ranking

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October 30, 2025 · 8:00 AM UTC

BorgWarner Expands Collaboration with Chery to Supply Advanced AWD Products for Global Growth

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October 30, 2025 · 6:30 AM UTC

BorgWarner Reports Strong Third Quarter 2025 Results

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October 23, 2025 · 4:15 PM UTC

Webcast Alert: BorgWarner 2025 Third Quarter Results Conference Call

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