BorgWarner Inc. (BWA) Income Statement
BWA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBWA revenue and net income
Where BWA's revenue goes
2025Each bar shows an amount and its share of revenue. BWA kept 1.9% of revenue as net income.
BWA profit margins
BWA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.7% | +4.3% | +7.1% | +6.0% |
| Gross profit | +2.4% | +4.1% | +7.0% | +4.6% |
| Operating income | −57.4% | −20.2% | −10.9% | −6.4% |
| Net income | −18.0% | −33.5% | −11.1% | −7.6% |
| EPS (diluted) | +13.7% | +2.2% | +12.8% | +5.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BWA quarterly EPS vs estimates
BorgWarner beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.25).
BWA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.32B | $14.08B | $14.20B | $12.63B | $14.84B | $10.16B | $10.17B | $10.53B | $9.80B | $9.07B |
| Cost of revenue | $11.64B | $11.47B | $11.63B | $10.27B | $11.98B | $8.26B | $8.07B | $8.30B | $7.68B | $7.14B |
| Gross profit | $2.67B | $2.61B | $2.57B | $2.37B | $2.86B | $1.91B | $2.10B | $2.23B | $2.11B | $1.93B |
| Research & development | $710.0M | $736.0M | $717.0M | $701.0M | $707.0M | $476.0M | $413.0M | $440.1M | $407.5M | $343.2M |
| Sales, general & admin | $1.31B | $1.35B | $1.63B | $1.29B | $1.08B | $951.0M | $873.0M | $945.7M | $898.5M | $817.5M |
| Total operating expenses | $2.14B | $1.35B | $1.32B | $1.31B | $1.47B | $952.0M | $873.0M | $945.4M | $899.1M | $817.8M |
| Operating income | $536.0M | $1.26B | $1.16B | $1.06B | $1.39B | $957.0M | $1.23B | $1.29B | $1.21B | $1.12B |
| Interest income | $1.0M | $54.0M | $35.0M | $26.0M | $407.0M | $12.0M | $12.0M | $6.4M | $5.8M | $6.3M |
| Interest expense | $99.0M | $84.0M | $10.0M | $71.0M | $82.0M | $73.0M | $55.0M | $59.0M | $70.5M | $84.6M |
| Income before taxes | $524.0M | $539.0M | $914.0M | $913.0M | $789.0M | $964.0M | $1.26B | $1.20B | $1.06B | $190.5M |
| Income taxes | $189.0M | $111.0M | $289.0M | $195.0M | $150.0M | $397.0M | $468.0M | $211.3M | $580.3M | $30.3M |
| Net income | $277.0M | $338.0M | $625.0M | $944.0M | $537.0M | $500.0M | $746.0M | $930.7M | $439.9M | $118.5M |
| EBITDA | $1.28B | $1.32B | $1.16B | $1.56B | $1.49B | $1.58B | $1.77B | $1.69B | $1.54B | $666.5M |
| EPS (diluted) | $4.91 | $4.32 | $4.02 | $4.60 | $4.15 | $2.69 | $4.13 | $4.49 | $3.89 | $3.27 |
| Gross margin | 18.7% | 18.5% | 18.1% | 18.7% | 19.3% | 18.8% | 20.7% | 21.2% | 21.6% | 21.3% |
| Operating margin | 3.7% | 8.9% | 8.2% | 8.4% | 9.3% | 9.4% | 12.1% | 12.2% | 12.4% | 12.3% |
| Net margin | 1.9% | 2.4% | 4.4% | 7.5% | 3.6% | 4.9% | 7.3% | 8.8% | 4.5% | 1.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.65B | $3.53B | $3.57B | $3.59B | $3.64B | $3.52B | $3.44B | $3.45B | $3.60B | $3.60B | $3.52B | $3.62B |
| Cost of revenue | $2.93B | $2.86B | $2.84B | $2.93B | $3.00B | $2.88B | $2.76B | $2.82B | $2.92B | $2.95B | $2.86B | $2.97B |
| Gross profit | $721.0M | $677.0M | $731.0M | $664.0M | $640.0M | $639.0M | $674.0M | $631.0M | $685.0M | $644.0M | $659.0M | $652.0M |
| Research & development | — | $177.0M | $710.0M | $189.0M | $182.0M | $182.0M | $170.0M | $190.0M | $189.0M | $187.0M | $176.0M | $192.0M |
| Sales, general & admin | $331.0M | $328.0M | $331.0M | $341.0M | $317.0M | $315.0M | $353.0M | $340.0M | $341.0M | $329.0M | $360.0M | $333.0M |
| Total operating expenses | $351.0M | $328.0M | $969.0M | $416.0M | $351.0M | $402.0M | $342.0M | $341.0M | $341.0M | $339.0M | $364.0M | $346.0M |
| Operating income | $370.0M | $349.0M | −$238.0M | $248.0M | $289.0M | $237.0M | $332.0M | $290.0M | $344.0M | $305.0M | $295.0M | $306.0M |
| Interest income | $15.0M | $14.0M | $1.0M | $16.0M | $12.0M | $16.0M | $7.0M | $1.0M | $9.0M | $10.0M | — | $59.0M |
| Interest expense | $10.0M | $11.0M | $34.0M | $25.0M | $12.0M | $28.0M | $34.0M | $30.0M | $17.0M | $15.0M | $22.0M | $27.0M |
| Income before taxes | $372.0M | $328.0M | −$240.0M | $248.0M | $284.0M | $232.0M | −$319.0M | $270.0M | $298.0M | $290.0M | $229.0M | $238.0M |
| Income taxes | $81.0M | $73.0M | $1.0M | $75.0M | $52.0M | $61.0M | $67.0M | $13.0M | −$31.0M | $62.0M | $59.0M | $133.0M |
| Net income | $277.0M | $242.0M | −$262.0M | $158.0M | $224.0M | $157.0M | −$405.0M | $234.0M | $303.0M | $206.0M | $154.0M | $50.0M |
| EBITDA | $527.0M | $484.0M | −$100.0M | $492.0M | $475.0M | $415.0M | −$107.0M | $485.0M | $480.0M | $461.0M | $406.0M | $323.0M |
| EPS (diluted) | $1.42 | $1.24 | $1.35 | $1.24 | $1.21 | $1.11 | $1.01 | $1.09 | $1.19 | $1.03 | $0.90 | $0.98 |
| Gross margin | 19.8% | 19.2% | 20.5% | 18.5% | 17.6% | 18.2% | 19.6% | 18.3% | 19.0% | 17.9% | 18.7% | 18.0% |
| Operating margin | 10.1% | 9.9% | −6.7% | 6.9% | 7.9% | 6.7% | 9.7% | 8.4% | 9.5% | 8.5% | 8.4% | 8.4% |
| Net margin | 7.6% | 6.8% | −7.3% | 4.4% | 6.2% | 4.5% | −11.8% | 6.8% | 8.4% | 5.7% | 4.4% | 1.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BWA's financial statements (latest annual report filed February 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BWA financial results
In fiscal year 2025 (ended December 31, 2025), BorgWarner reported revenue of $14.3 billion, up 1.7% from the year before. It had net income of $277.0 million (down 18.0%), a net profit margin of 1.9%. Diluted earnings per share came to $4.91. Over five years revenue grew at an average rate of 7.1% a year.
See the BWA stock overview for the latest quote and news, or the BWA chart for price history and technical indicators.
BWA income statement FAQ
What is BorgWarner's annual revenue?
BorgWarner reported total revenue of $14.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.7% from $14.1 billion the previous year.
Is BorgWarner profitable?
Yes. BorgWarner reported net income of $277.0 million in fiscal 2025, a net profit margin of 1.9%; its operating margin was 3.7%.
What is BorgWarner's gross margin?
BorgWarner's gross margin was 18.7% in fiscal 2025: for every $100 of revenue, BorgWarner kept $19 after the direct cost of its products and services.
How much does BorgWarner spend on research and development?
BorgWarner spent $710.0 million on research and development in fiscal 2025, 5.0% of revenue.
How fast is BorgWarner growing?
Revenue grew 7.1% a year on average over the last five fiscal years, from $10.2 billion to $14.3 billion.
What are BorgWarner's earnings per share?
BorgWarner earned $4.91 per diluted share in fiscal 2025, compared with $4.32 a year earlier.
When will BorgWarner report its next earnings?
BorgWarner is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does BorgWarner's fiscal year end?
BorgWarner's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 11, 2026.