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BWMN

Bowman Consulting Group Ltd.

BWMN

Bowman Consulting Group Ltd. • NASDAQ
$36.18 ▲ 0.36% (+0.13)
Market Cap $628.35 M
52w High $45.83
52w Low $17.90
Dividend Yield 0%
P/E 37.3
Volume 117.31K
Outstanding Shares 17.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $126.033M ▲ $55.174M ▼ $6.315M ▲ 5.011% ▲ $0.38 ▲ $10.161M ▼
Q2-2025 $122.09M ▲ $56.528M ▼ $6.009M ▲ 4.922% ▲ $0.35 ▲ $15.813M ▲
Q1-2025 $112.931M ▼ $56.962M ▼ $-1.744M ▼ -1.544% ▼ $-0.11 ▼ $7.607M ▼
Q4-2024 $113.223M ▼ $58.829M ▼ $5.903M ▲ 5.214% ▲ $0.35 ▲ $9.201M ▲
Q3-2024 $113.932M $59.217M $771K 0.677% $0.043 $7.747M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.221M ▲ $510.176M ▼ $248.371M ▼ $261.805M ▲
Q2-2025 $15.54M ▲ $538.245M ▲ $288.602M ▲ $249.643M ▲
Q1-2025 $10.7M ▲ $528.749M ▲ $284.634M ▲ $244.115M ▼
Q4-2024 $6.698M ▼ $505.881M ▲ $259.766M ▲ $246.115M ▲
Q3-2024 $11.66M $496.957M $253.751M $243.206M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $6.618M ▲ $10.178M ▲ $410K ▲ $-9.907M ▼ $681K ▼ $10.121M ▲
Q2-2025 $6.009M ▲ $4.259M ▼ $-93K ▲ $674K ▲ $4.84M ▲ $4.183M ▼
Q1-2025 $-1.744M ▼ $12.034M ▲ $-1.744M ▲ $-6.288M ▲ $4.002M ▲ $10.991M ▲
Q4-2024 $5.903M ▲ $11.919M ▲ $-3.83M ▼ $-13.051M ▲ $-4.962M ▲ $9.187M ▲
Q3-2024 $771K $6.794M $-3.054M $-15.223M $-11.483M $6.575M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $110.00M ▲$120.00M ▲$130.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been growing steadily year after year, which points to strong demand and successful expansion. Profitability, however, is still quite thin. The company tends to hover around break-even at the bottom line, with only modest operating and EBITDA margins and at least one recent year in the red. In simple terms, Bowman is clearly in growth mode, prioritizing building scale and capabilities over near-term profits. That creates upside if margins improve, but also means current earnings are not yet a major strength and can be volatile from year to year.

Balance Sheet

Balance Sheet The balance sheet shows a company that has scaled up significantly since going public. Total assets and shareholder equity have increased meaningfully, reflecting acquisitions and internal growth. Debt has also climbed, and cash levels are relatively low, which suggests Bowman is actively using its balance sheet to fund expansion. The result is a more substantial company than just a few years ago, but with higher financial obligations and less cash cushion, which raises sensitivity to any slowdown or integration challenges.

Cash Flow

Cash Flow Operating cash flow is consistently positive but modest, broadly matching the company’s relatively thin earnings profile. Free cash flow tracks close to operating cash flow because capital spending is light, typical for an asset-light consulting and engineering business. This means Bowman is not burdened by heavy ongoing investment needs, but it also means that most growth has to be funded through cash from operations and external financing rather than large internal cash surpluses. The cash flow story is stable but not yet robust.

Competitive Edge

Competitive Edge Bowman is carving out a strong position in engineering and infrastructure consulting by focusing on high-demand areas like data centers, renewable energy, transportation, and power infrastructure. Its decentralized model lets acquired firms keep local leadership and client relationships, helping retain talent and preserve customer loyalty. The company offers a full project lifecycle service—from planning to construction support—which makes it attractive as a one-stop provider. Against much larger global competitors, Bowman competes by being more nimble, specialized, and regionally focused rather than trying to match them in overall size.

Innovation and R&D

Innovation and R&D Innovation is a core part of Bowman’s strategy. The company invests in advanced geospatial tools, 3D modeling, drones, and proprietary sensing technologies to deliver faster, more accurate work and win complex contracts, including with federal agencies. It is also building specialized expertise in sustainable building, energy transition, and mission-critical facilities like data centers. The newly launched internal growth fund aimed at AI-enabled workflows, high-definition imaging, and client-facing dashboards underscores a clear push to use technology to boost efficiency and differentiate services. While this spending weighs on near-term margins, it is aimed at creating higher-value, more scalable offerings over time.

Summary

Bowman is a fast-growing engineering and consulting platform that has rapidly expanded through acquisitions and targeted focus on attractive end markets. Revenue growth and an expanding asset base are clear strengths, but profitability is still thin and cash generation, while positive, is not yet strong. The company carries more debt and less cash than in its early days, reflecting an aggressive build-out strategy that increases both opportunity and risk. Its decentralized structure, advanced geospatial and digital capabilities, and focus on energy, infrastructure, and data centers provide a meaningful competitive edge and room for further expansion. The key questions going forward are how well Bowman can convert this larger, more innovative platform into steadily higher margins, stronger cash flow, and smooth integration of its many acquisitions.

NEWS

November 17, 2025 · 4:01 PM UTC

Bowman Awarded $7M Contract to Design West Seattle Fish Passage Infrastructure

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November 11, 2025 · 6:55 AM UTC

Bowman Awarded Planning and Transportation Assignments in The Aurora Highlands, CO

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November 5, 2025 · 4:01 PM UTC

Bowman Reports Third Quarter 2025 Results; Issues 2026 Guidance

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October 16, 2025 · 6:55 AM UTC

Bowman to Attend November Investor Conferences

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October 13, 2025 · 6:55 AM UTC

Bowman Acquires Lazen Power Engineering, Adding High-Voltage Transmission Line Design to Power & Utility Practice

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