Tearsheet

BorgWarner (BWA)


Market Price (10/20/2025): $42.6 | Market Cap: $9.3 Bil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

BorgWarner (BWA)


Market Price (10/20/2025): $42.6
Market Cap: $9.3 Bil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
Trading close to highs
Dist 52W High is -4.8%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.8%, Rev Chg QQuarterly Revenue Change % is -2.2%
1 Attractive yield
FCF Yield is 11%
Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -32%
 
2 Low stock price volatility
Vol 12M is 30%
  
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
1 Attractive yield
FCF Yield is 11%
2 Low stock price volatility
Vol 12M is 30%
3 Trading close to highs
Dist 52W High is -4.8%
4 Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -32%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.8%, Rev Chg QQuarterly Revenue Change % is -2.2%

Market Valuation & Key Metrics

BWA Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
BWA Return-9%18%-9%3%-10%35%22%
Peers Return19%5%-13%22%-10%-7%11%
S&P 500 Return16%27%-19%24%23%13%106%

Monthly Win Rates [3]
BWA Win Rate50%75%33%42%42%67% 
Peers Win Rate48%47%33%42%47%47% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
BWA Max Drawdown-54%-2%-29%-9%-16%-22% 
Peers Max Drawdown-50%-9%-31%-8%-43%-39% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: APTV, ALSN, PATK, CVGI, CREV. See BWA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/17/2025 (YTD)

Downturns Compared

Unique KeyEventBWAS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-42.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven73.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-55.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven122.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven314 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-46.7%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven87.5%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-72.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven264.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven601 days1480 days


How Low Can It Go?

BorgWarner's stock fell -42.3% during the 2022 Inflation Shock from a high on 6/4/2021. A -42.3% loss requires a 73.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Better Bets than BorgWarner (BWA)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to BWA. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-8.1%-8.1%-11.7%
BWA_6302022_Dip_Buyer_FCFYield06302022BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
22.3%48.9%-5.5%
BWA_7312019_Dip_Buyer_FCFYield07312019BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-5.8%0.2%-47.0%
BWA_12312018_Dip_Buyer_FCFYield12312018BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
21.8%27.1%-10.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-8.1%-8.1%-11.7%
BWA_6302022_Dip_Buyer_FCFYield06302022BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
22.3%48.9%-5.5%
BWA_7312019_Dip_Buyer_FCFYield07312019BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-5.8%0.2%-47.0%
BWA_12312018_Dip_Buyer_FCFYield12312018BWABorgWarnerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
21.8%27.1%-10.3%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for BorgWarner

Financials

BWAAPTVALSNPATKCVGICREVMedian
NameBorgWarn.Aptiv Allison .Patrick .Commerci.Carbon R. 
Mkt Price42.5982.7680.8897.631.585.3461.73
Mkt Cap9.318.06.83.20.1-6.8
Rev LTM14,00619,7943,2003,817677-3,817
Op Inc LTM1,2922,0891,000266-4-1,000
FCF LTM1,0001,657654234-22-654
FCF 3Y Avg6251,34164634119-625
CFO LTM1,5822,342822344-10-822
CFO 3Y Avg1,3082,16579442137-794

Growth & Margins

BWAAPTVALSNPATKCVGICREVMedian
NameBorgWarn.Aptiv Allison .Patrick .Commerci.Carbon R. 
Rev Chg LTM-2.8%-1.0%2.7%6.1%-13.8%--1.0%
Rev Chg 3Y Avg6.6%7.7%8.0%-8.0%-11.0%-6.6%
Rev Chg Q-2.2%3.1%-0.2%3.0%-11.2%--0.2%
QoQ Delta Rev Chg LTM-0.6%0.8%-0.1%0.8%-3.1%--0.1%
Op Mgn LTM9.2%10.6%31.2%7.0%-0.6%-9.2%
Op Mgn 3Y Avg9.0%9.8%30.3%7.4%2.3%-9.0%
QoQ Delta Op Mgn LTM0.1%0.1%-0.2%-0.0%-0.1%--0.0%
CFO/Rev LTM11.3%11.8%25.7%9.0%-1.4%-11.3%
CFO/Rev 3Y Avg9.3%11.0%25.7%11.2%4.6%-11.0%
FCF/Rev LTM7.1%8.4%20.4%6.1%-3.3%-7.1%
FCF/Rev 3Y Avg4.5%6.8%20.9%9.0%2.2%-6.8%

Valuation

BWAAPTVALSNPATKCVGICREVMedian
NameBorgWarn.Aptiv Allison .Patrick .Commerci.Carbon R. 
Mkt Cap9.318.06.83.20.1-6.8
P/S0.70.92.10.80.1-0.8
P/EBIT17.29.26.713.1-18.9-9.2
P/E32.017.88.925.2-1.4-17.8
P/CFO5.87.78.39.2-5.5-7.7
Total Yield3.6%5.6%11.6%5.6%-71.7%-5.6%
Dividend Yield0.5%0.0%0.4%1.6%0.0%-0.4%
FCF Yield 3Y Avg8.0%7.3%10.1%16.1%-4.2%-8.0%
D/E0.40.50.40.52.4-0.5
Net D/E0.30.40.20.51.6-0.4

Returns

BWAAPTVALSNPATKCVGICREVMedian
NameBorgWarn.Aptiv Allison .Patrick .Commerci.Carbon R. 
1M Rtn-3.7%-3.0%-8.4%-7.9%-11.7%33.2%-5.8%
3M Rtn22.2%21.3%-7.0%2.3%-10.7%28.4%11.8%
6M Rtn62.2%60.0%-8.7%24.1%75.6%65.3%61.1%
12M Rtn22.7%15.3%-19.0%2.7%-48.9%52.6%9.0%
3Y Rtn49.3%-2.2%133.3%261.9%-61.3%-49.3%
1M Excs Rtn-4.6%-3.5%-9.6%-9.6%-19.0%24.6%-7.1%
3M Excs Rtn15.2%14.3%-11.2%-3.5%-14.4%43.5%5.4%
6M Excs Rtn36.1%33.9%-34.8%-2.0%49.4%39.2%35.0%
12M Excs Rtn8.9%3.6%-31.7%-10.0%-63.5%32.0%-3.2%
3Y Excs Rtn-31.7%-85.1%49.1%158.3%-148.8%--31.7%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Turbos & Thermal Technologies6,0125,455   
Drivetrain & Morse Systems5,5495,0283,660  
PowerDrive Systems2,1661,9061,427  
Battery & Charging Systems546335   
Corporate000  
Inter-segment eliminations-75-89-151-175 
Air Management  6,8675,6786,153
Aftermarket   194 
E-Propulsion & Drivetrain   3,9894,015
Fuel Systems   479 
Total14,19812,63511,80310,16510,168


Operating Income by Segment
$ Mil20242023202220212020
Drivetrain & Morse Systems958783524  
Turbos & Thermal Technologies874783   
Loss (gain) on sale of assets1300  
Loss (gain) on sale of businesses513-29  
Adjustments associated with Spin-Off related balances00   
Change in accounting method00   
Commercial contract settlement00   
Accelerated depreciation-40   
Other non-comparable items-403  
Merger and acquisition expense, net-23-9-48  
Impairment charges-29-30   
Intangible asset amortization expense-67-69-59  
Restructuring expense-79-48-108  
PowerDrive Systems-90-88-48  
Battery & Charging Systems-116-44   
Corporate, including stock-based compensation-278-282-234  
Air Management  1,037  
Asset impairments and lease modifications  0  
Postretirement settlement  -124  
Total1,1601,009914  


Assets by Segment
$ Mil20242023202220212020
Drivetrain & Morse Systems4,2624,2404,229  
Turbos & Thermal Technologies3,9383,882   
PowerDrive Systems3,1852,3491,828  
Corporate1,7331,6831,6562,1331,091
Battery & Charging Systems1,3351,178   
Inter-segment eliminations000  
Air Management  5,1745,7144,536
Aftermarket   806 
E-Propulsion & Drivetrain   5,4124,075
Fuel Systems   1,964 
Total14,45313,33212,88716,0299,702


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity7,144,093
Short Interest: % Change Since 9152025-9.4%
Average Daily Volume2,077,491
Days-to-Cover Short Interest3.44
Basic Shares Quantity217,200,000
Short % of Basic Shares3.3%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/20256.6%10.2%24.3%
5/7/20254.4%14.2%11.3%
2/6/2025-3.0%-7.3%-4.0%
10/31/20240.2%3.9%2.3%
7/31/20248.8%-1.8%3.7%
5/2/20248.4%14.1%8.5%
2/8/2024-6.9%-8.0%-5.0%
11/2/2023-13.1%-12.8%-8.2%
...
SUMMARY STATS   
# Positive14915
# Negative10159
Median Positive4.3%10.2%8.5%
Median Negative-6.1%-4.6%-8.2%
Max Positive8.8%14.2%30.4%
Max Negative-13.1%-12.8%-21.2%

SEC Filings

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Report DateFiling DateFiling
6302025731202510-Q 6/30/2025
3312025507202510-Q 3/31/2025
12312024206202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023208202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022209202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021215202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Weng VolkerVice President9082025Sell43.9710,000439,7072,990,359Form
1Demmerle StefanVice President9082025Sell44.005,000220,0069,858,015Form
2MICHAS ALEXIS P 9032025Sell42.318,772371,1843,338,768Form
3McKenzie IsabelleVice President8292025Sell42.932,690115,4702,286,008Form
4McKenzie IsabelleVice President8142025Sell40.012,500100,0252,238,365Form