Tearsheet

BorgWarner (BWA)

Market Price (11/6/2025): $44.88 | Market Cap: $9.6 Bil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

BorgWarner (BWA)

Market Price (11/6/2025): $44.88
Market Cap: $9.6 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 12%	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is -1.5%	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 72x
1	Attractive yield FCF Yield is 13%	Weak multi-year price returns 2Y Excs Rtn is -36%, 3Y Excs Rtn is -34%	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1%
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 12%
1	Attractive yield FCF Yield is 13%
2	Low stock price volatility Vol 12M is 30%
3	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is -1.5%
4	Weak multi-year price returns 2Y Excs Rtn is -36%, 3Y Excs Rtn is -34%
5	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 72x
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1%

Market Valuation & Key Metrics

	11/6/25	2024	2023	2022	2021
Share Price CYE	$44.88	$31.44	$35.00	$34.14	$37.59
Market Cap CYE ($ Bil)	9.6	6.8	8.1	7.9	9.0
Total Debt ($ Bil)	4.1	4.3	3.9	4.3	4.5
Total Cash ($ Bil)	2.2	2.1	1.5	1.1	1.8
Enterprise Value ($ Bil)	11.5	11.1	12.0	12.2	13.5
Valuation Ratios
P/S TTM	0.7	0.5	0.6	0.7	0.8
P/EBIT TTM	17.4	11.4	7.8	8.5	16.0
P/E TTM	71.6	21.0	13.3	8.8	17.6
Sector Ratios
P/S TTM (Sector)	0.7	0.8	0.9	0.8	1.3
P/EBIT TTM (Sector)	6.9	6.8	7.0	5.5	7.5
P/E TTM (Sector)	9.3	7.9	9.0	7.4	9.3

	11/6/25	2024	2023
Share Price CYE	$44.88	$31.44	$35.00
Market Cap CYE ($ Bil)	9.6	6.8	8.1
Total Debt ($ Bil)	4.1	4.3	3.9
Total Cash ($ Bil)	2.2	2.1	1.5
Enterprise Value ($ Bil)	11.5	11.1	12.0
Valuation Ratios
P/S TTM	0.7	0.5	0.6
P/EBIT TTM	17.4	11.4	7.8
P/E TTM	71.6	21.0	13.3
Sector Ratios
P/S TTM (Sector)	0.7	0.8	0.9
P/EBIT TTM (Sector)	6.9	6.8	7.0
P/E TTM (Sector)	9.3	7.9	9.0

	BWA	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	14.2
Rev Chg Q	4.1%	6.7%
Rev Chg LTM	0.1%	5.6%
Rev Chg 3Y Avg	7.8%	5.3%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	1.3
CFO LTM ($ Bil)	1.7
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	9.3%	18.8%
CFO/Rev LTM	12.1%	20.4%
Net Inc Mgn	0.9%	12.9%
VALUATION	MODERATE
P/S	0.7	3.1
P/CFO	5.6	15.2
P/FCF	7.6	20.3
P/E	71.6	23.7
STABILITY	GOOD
Debt/Equity	0.42	0.21
Cash/Assets	0.15	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Light Vehicle eProduct Sales Growth (YoY)	47%	5072025	Link
Estimated Outgrowth Above Market Production	200 to 400 basis points	5072025	Link
Total Patents Globally	19765	11062025	Link
Active Patents	11372	11062025	Link
eProduct Sales	$2.3 billion	12312024	Link

BWA Stock

Return (1M):

Factor Drivers of Stock Movement

The 18.4% change in BWA stock from 8/6/2025 to 11/5/2025 was primarily driven by a 83.4% change in the company's P/E Multiple.

	8062025	11052025	Change
Stock Price ($)	37.90	44.88	18.42%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14041.00	14183.00	1.01%
Net Income Margin (%)	1.50%	0.94%	-36.83%
P/E Multiple	39.04	71.57	83.35%
Shares Outstanding (Mil)	216.30	213.70	1.20%
Cumulative Contribution			18.40%

LTM = Last Twelve Months as of date shown

The 49.3% change in BWA stock from 5/7/2025 to 11/5/2025 was primarily driven by a 216.8% change in the company's P/E Multiple.

	5072025	11052025	Change
Stock Price ($)	30.06	44.88	49.30%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14006.00	14183.00	1.26%
Net Income Margin (%)	2.06%	0.94%	-54.21%
P/E Multiple	22.59	71.57	216.82%
Shares Outstanding (Mil)	217.20	213.70	1.61%
Cumulative Contribution			49.27%

LTM = Last Twelve Months as of date shown

The 33.8% change in BWA stock from 11/5/2024 to 11/5/2025 was primarily driven by a 758.0% change in the company's P/E Multiple.

	11052024	11052025	Change
Stock Price ($)	33.54	44.88	33.81%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14169.00	14183.00	0.10%
Net Income Margin (%)	6.33%	0.94%	-85.08%
P/E Multiple	8.34	71.57	758.00%
Shares Outstanding (Mil)	223.10	213.70	4.21%
Cumulative Contribution			33.57%

LTM = Last Twelve Months as of date shown

The 40.0% change in BWA stock from 11/6/2022 to 11/5/2025 was primarily driven by a 679.7% change in the company's P/E Multiple.

	11062022	11052025	Change
Stock Price ($)	32.05	44.88	40.03%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	11479.00	14183.00	23.56%
Net Income Margin (%)	7.13%	0.94%	-86.74%
P/E Multiple	9.18	71.57	679.67%
Shares Outstanding (Mil)	234.30	213.70	8.79%
Cumulative Contribution			38.95%

LTM = Last Twelve Months as of date shown

Why The Stock Moved

AI Generated Analysis | Feedback

Here are the key points explaining the approximate 22.4% stock movement for BorgWarner (BWA) from July 31, 2025, to today (November 6, 2025):

1. Strong Q3 2025 Earnings Beat and Raised Full-Year Guidance: BorgWarner reported adjusted earnings per share (EPS) of $1.24 for Q3 2025, surpassing analyst estimates of $1.16 or $1.17. The company also raised its full-year guidance for sales, margins, and EPS, driven by strong execution and cost controls. This announcement led to a significant 6.39% surge in the stock price on the day of the earnings release. The adjusted operating margin improved to 10.7%, a 60-basis-point increase year-over-year.

2. Strategic Portfolio Optimization for Future Profitability: The company announced strategic actions, including the exit of its charging business during Q2 2025, which is expected to eliminate approximately $30 million in annualized adjusted operating losses by 2026. Additionally, BorgWarner is consolidating its North American Battery Systems operations, projected to generate annual run-rate cost savings of about $20 million by 2026. These moves signal a focus on higher-value, more profitable segments.

3. Robust Growth in Electrification and New Business Wins: BorgWarner continued to demonstrate strong performance in its e-product sales, with light vehicle e-product sales increasing by 6% organically in Q3 2025 and 31% in Q2 2025. The company secured multiple new business awards, including a high-volume hybrid eMotor contract with a major North American OEM, advanced All-Wheel Drive (AWD) systems for Chery, and expanded dual inverter programs with Great Wall Motor. These wins underscore its continued leadership and growth in sustainable mobility solutions.

4. Significant Share Repurchase Authorization: On July 31, 2025, BorgWarner's Board of Directors approved a new stock repurchase plan, authorizing the buyback of up to $1.00 billion of its shares. This move represents approximately 13.2% of its stock and demonstrates management's confidence in the company's valuation and commitment to returning capital to shareholders.

5. Positive Analyst Sentiment and Price Target Upgrades: Several Wall Street analysts reacted positively to BorgWarner's performance and outlook during this period. For example, Piper Sandler, JPMorgan Chase & Co., Morgan Stanley, Baird R W, Evercore ISI, and Barclays all raised their price targets for BWA, with some upgrading their ratings from "hold" to "buy" or "strong-buy". This collective bullish sentiment from analysts contributed to increased investor confidence and upward stock momentum, leading to the stock reaching a 52-week high of $44.97 on November 5, 2025.

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
BWA Return	-9%	18%	-9%	3%	-10%	43%	23%
Peers Return	13%	7%	-16%	15%	-10%	-6%	-1%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
BWA Win Rate	50%	75%	33%	42%	42%	60%
Peers Win Rate	50%	45%	30%	40%	47%	42%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
BWA Max Drawdown	-54%	-2%	-29%	-9%	-16%	-22%
Peers Max Drawdown	-38%	-8%	-25%	-6%	-36%	-33%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: APTV, ALSN, LEA, GNTX, 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 11/5/2025 (YTD)

How Low Can It Go

Unique Key	Event	BWA	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-42.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	73.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-55.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	122.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	314 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-46.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	87.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-72.5%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	264.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	601 days	1480 days

Compare to APTV, ALSN, LEA, GNTX, CREV

In The Past

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.

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About BorgWarner (BWA)

BorgWarner Inc. provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging. The E-Propulsion & Drivetrain segment provides rotating electrical components, power electronics, control modules, software, friction, and mechanical products for automatic transmissions and torque-management products. The Fuel Injection segment develops and manufactures gasoline and diesel fuel injection components and systems. The Aftermarket segment sells products and services to independent aftermarket customers and original equipment service customers. This segment provides a range of solutions, including fuel injection, electronics and engine management, maintenance, and test equipment and vehicle diagnostics. The company sells its products to original equipment manufacturers of light vehicles, which comprise passenger cars, sport-utility vehicles, vans, and light trucks; commercial vehicles, including medium-duty and heavy-duty trucks, and buses; and off-highway vehicles, such as agricultural and construction machinery, and marine applications, as well as to tier one vehicle systems suppliers and the aftermarket for light, commercial, and off-highway vehicles. The company was formerly known as Borg-Warner Automotive, Inc. BorgWarner Inc. was incorporated in 1987 and is headquartered in Auburn Hills, Michigan.

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A Bosch or Continental for vehicle propulsion and electrification components.
The Intel for vehicle powertrains and electrification systems.

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Electric Drive Modules (EDMs): Integrated systems comprising an electric motor, gearbox, and power electronics designed for electric and hybrid vehicles.
Electric Motors: Convert electrical energy into mechanical energy, providing propulsion for electric and hybrid vehicles.
Inverters: Convert direct current (DC) from the battery to alternating current (AC) for electric motors and manage energy flow in hybrid and electric vehicles.
Battery Management Systems (BMS): Monitor and optimize the performance, safety, and lifespan of battery packs in electric and hybrid vehicles.
Turbochargers: Increase engine power and efficiency by forcing more air into the combustion chamber of internal combustion engines.
All-Wheel Drive (AWD) Systems: Distribute power to all four wheels, enhancing vehicle traction and stability across various terrains.
Timing Systems: Precisely control engine valve and fuel injection timing for optimized performance and reduced emissions in internal combustion engines.

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BorgWarner (BWA) sells primarily to other companies, specifically global original equipment manufacturers (OEMs) in the automotive industry.

Based on their 2023 Annual Report (10-K), their largest customers include:

Ford Motor Company (NYSE: F)
Volkswagen AG (OTC: VWAGY; XTRA: VOW)
Stellantis N.V. (NYSE: STLA)
Hyundai Motor Company (KRX: 005380)
General Motors Company (NYSE: GM)
Mercedes-Benz Group AG (OTC: MBGAF; XTRA: MBG) and Daimler Truck Holding AG (OTC: DTRUY; XTRA: DTR) (These two companies were formerly part of Daimler AG, which BorgWarner's report refers to. BorgWarner supplies both light and commercial vehicle segments.)

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Joseph F. Fadool, President and Chief Executive Officer (effective February 2025)

Joseph F. Fadool is set to become the President and Chief Executive Officer of BorgWarner in February 2025. He currently serves as Executive Vice President and Chief Operating Officer. Fadool joined BorgWarner in 2010, holding various leadership positions including President and General Manager of Emissions, Thermal and Turbo Systems, Morse Systems, and TorqTransfer Systems. Prior to BorgWarner, he was the Vice President for North American Electronic Operations at Continental. His career also includes roles at Siemens VDO Automotive in general management, operations, sales, and program management, and seven years with Ford Motor Company, where he was involved in product development and launching major vehicles.

Craig Aaron, Executive Vice President and Chief Financial Officer (effective March 2024)

Craig Aaron will assume the role of Executive Vice President and Chief Financial Officer in March 2024. He joined BorgWarner in 2007 and has held several key financial positions within the company, including Controller, Treasurer, and Vice President of Finance for BorgWarner Morse Systems. Before his tenure at BorgWarner, Aaron gained experience at Federal-Mogul Corporation as a Corporate Accounting Manager and at Deloitte & Touche LLP as an In-Charge Auditor.

Frédéric Lissalde, President and Chief Executive Officer (retiring February 2025)

Frédéric Lissalde has served as President and Chief Executive Officer of BorgWarner since August 2018, and is slated to retire in February 2025. Before becoming CEO, he held increasingly significant roles within BorgWarner, including executive vice president and chief operating officer, president and general manager of BorgWarner Turbo Systems, vice president and general manager of BorgWarner Transmission Systems, and vice president of global sales and marketing of BorgWarner Drivetrain Systems. His experience includes the integration of acquired companies and the restructuring of plants globally. Prior to joining BorgWarner in 2000, Lissalde held positions in program management, engineering, operations, and sales at Valeo and ZF Friedrichshafen AG across the U.K., Japan, and France.

Kevin Nowlan, Executive Vice President and Chief Financial Officer (retiring March 2024)

Kevin Nowlan has been the Executive Vice President and Chief Financial Officer of BorgWarner since April 2019, and is retiring in March 2024. Before joining BorgWarner, Nowlan served as Senior Vice President and CFO of Meritor Inc. starting in 2013, where he was also responsible for the Trailer and Components businesses. Earlier in his career, he spent 12 years with GMAC and the General Motors' Treasurer's Office in various financial leadership capacities.

Tonit M. Calaway, Executive Vice President, Chief Administrative Officer, General Counsel and Secretary

Tonit M. Calaway was appointed Executive Vice President, Chief Administrative Officer, General Counsel and Secretary in October 2020. Her responsibilities encompass global legal functions, security, facilities, government affairs, real estate, sustainability, environment, and aviation. Before this role, Calaway served as Executive Vice President and Chief Legal Officer and Secretary, and Executive Vice President and Chief Human Resources Officer at BorgWarner. She joined BorgWarner in 2016, following an 18-year career at Harley-Davidson, where her roles included President of The Harley-Davidson Foundation, Vice President of Human Resources, and various legal department positions.

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OEM vertical integration for critical electric vehicle (EV) components, such as e-motors, inverters, and battery management systems, directly threatens BorgWarner's core business model. Major automakers (OEMs) are increasingly investing in and producing these components in-house or through joint ventures, reducing their reliance on external Tier 1 suppliers. This trend diminishes the total addressable market for BorgWarner's EV component offerings and shifts value capture back to the OEMs, fundamentally altering the traditional supplier-customer dynamic in the automotive industry.

AI Generated Analysis | Feedback

BorgWarner (symbol: BWA) provides technologies and solutions for internal combustion, hybrid, and electric vehicles across light, medium, and heavy-duty vehicle segments, as well as off-highway applications. Their product portfolio includes turbochargers, emission and thermal systems, transmission components and systems, timing devices and chains, all-wheel drive torque transfer systems, rotating electrical devices, inverters, onboard chargers, DC/DC converters, eMotors, and battery systems. Here's an overview of the addressable markets for their main products or services:

Vehicle Electrification Market: The global vehicle electrification market is projected to expand from USD 51.84 billion in 2025 to USD 83.87 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.1%. BorgWarner is significantly increasing its focus on this sector, with an anticipated growth in electric vehicle (EV) revenue from less than 3% of its total revenue in 2021 to approximately 45% by 2030. The company specifically projects achieving USD 8 billion in revenue from light vehicle electrification and an additional USD 2 billion from electric commercial trucks by 2030. BorgWarner is also on track to reach USD 4 billion in EV revenue by 2025.
Electric Turbo Assist Market: The global electric turbo assist market, where BorgWarner is a significant participant, was valued at USD 1.15 billion in 2024. It is forecast to grow substantially to USD 3.25 billion by 2033, exhibiting a strong CAGR of 12.3%. This growth is propelled by the automotive industry's increasing shift towards electrification, stricter emission regulations, and the demand for enhanced powertrain efficiency.
Internal Combustion Engine (ICE) Market: The global internal combustion engine market was valued at USD 280.09 billion in 2024 and is projected to reach USD 499.94 billion by 2032, with a CAGR of 7.91%. The Asia Pacific region was the dominant force in this market in 2024, holding a 49.75% share. BorgWarner continues to supply technologies for conventional gasoline and diesel internal combustion vehicles, emphasizing improvements in fuel economy and reductions in emissions.

Specific global or regional addressable market sizes for individual components such as turbochargers, transmission components, or timing systems, which fall under the broader internal combustion or electrification categories, were not explicitly detailed in the provided search results.

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Here are 3-5 expected drivers of future revenue growth for BorgWarner (BWA) over the next 2-3 years:

Electrification Strategy and eProduct Portfolio Expansion: BorgWarner's "Charging Forward" strategy is a primary driver, aiming to generate $10 billion, or nearly 50% of its total sales, from e-mobility products by 2027. The company is on track to achieve at least 25% of its revenues from Battery Electric Vehicles (BEVs) by 2025. This growth is evidenced by strong light vehicle eProduct sales, which increased 47% year-over-year in the first quarter of 2025, and continued organic EV bookings that have exceeded targets.
Strategic Acquisitions and Investments: BorgWarner has actively expanded its e-mobility portfolio through strategic acquisitions. The company has completed five EV-focused acquisitions since 2021, including Delphi Technologies, focusing on battery packs, e-motors, power electronics, and direct current fast charging. These acquisitions are crucial for expanding their technological capabilities and market reach in the electric vehicle sector.
New Business Awards and Organic Growth: The company continues to secure significant new business awards across its product portfolio, including high-volume hybrid eMotor awards and high-voltage coolant heater (HVCH) awards for major OEMs. These new bookings are anticipated to contribute meaningfully to revenue growth and market outperformance, with some expected to launch and contribute to revenue starting in 2027.
Geographic Expansion, particularly in Emerging EV Markets: BorgWarner is strategically focusing on key geographies like India and China to drive future growth. India is considered a crucial pillar for its global growth strategy, with plans for expanded local manufacturing of EV components, increased involvement of Indian R&D teams in global product development for emerging EV platforms, and deeper collaborations with Original Equipment Manufacturers (OEMs). Similarly, BorgWarner is targeting the rapidly growing Chinese EV market, with recent collaborations including Chery and Great Wall Motor.
Market Outgrowth through Product Demand: Despite anticipating a slight decline in its weighted light and commercial vehicle markets in 2025, BorgWarner expects to achieve sales outgrowth above market production of approximately 100 to 300 basis points. This indicates the company's expectation to gain market share through robust demand for its products, particularly its eProducts.

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Share Repurchases

BorgWarner's Board of Directors increased its share repurchase authorization to $1 billion, allowing the company to repurchase outstanding shares through 2028.
The company purchased approximately $108 million of its outstanding shares during the second quarter of 2025.
In the third quarter of 2025, BorgWarner returned about $100 million to stockholders through share repurchases. Annual share buybacks were $402 million in 2024, $177 million in 2023, and $240 million in 2022.

Share Issuance

No significant share issuances (dollar amount of shares issued) were identified in the provided information within the specified timeframe.

Outbound Investments

The Delphi Technologies acquisition in 2020 significantly enhanced BorgWarner's capabilities in power electronics for hybrid and electric vehicles, marking a strategic pivot.
BorgWarner launched its 'Charging Forward' strategic plan in 2021, committing to eMobility, including significant investments in electrification and divestitures of traditional combustion engine assets.
The company is securing new business awards for both foundational products and e-products with major global and Chinese OEMs, with production expected to commence between 2025 and 2028.
Net acquisitions and divestitures for the twelve months ending June 30, 2025, were $23 million; in 2023, they were -$0.1 billion, and in 2022, -$0.285 billion, indicating divestitures outpaced acquisitions in those years.

Capital Expenditures

BorgWarner expects capital expenditures to be managed at approximately 4% of sales for 2025, which is lower than the historical range of 4.5% to 5%.
Capital expenditures for the second quarter of 2025 were $77 million, representing a 35.29% decline from the first quarter of 2025 and a 53.33% drop from the second quarter of 2024.
Free cash flow in Q2 2025 was $507 million, partly due to strong capital expenditure performance. Free cash flow in Q3 2025 increased by 32% year-over-year to $266 million, driven by higher net earnings and lower capital expenditures.

Better Bets than BorgWarner (BWA)

	BWA	Better Performance than BWA
Metric	Value	Industry (Automotive Parts & Equipment)
Rev Chg LTM	0.1%	MBLY (7.6%), ALV (0.8%), MOD (8.1%), GNTX (2.4%), DORM (7.9%)
Rev Chg 3Y Avg	7.8%	GNTX (11.1%), DORM (9.5%), MVST (28.7%), SLDP (43.8%), THRM (10.6%)
Op Mgn LTM	9.3%	APTV (10.6%), ALV (10.6%), MOD (11.7%), ALSN (30.8%), GNTX (19.5%)
CFO/Rev LTM	12.1%	MBLY (35.8%), ALSN (26.2%), GNTX (23.2%), GTX (12.6%), VC (13.2%)
FCF/Rev LTM	8.9%	MBLY (32.4%), ALSN (20.5%), GNTX (17.0%), GTX (10.5%), VC (9.7%)
Total Yield	2.0%	APTV (5.6%), MGA (11.2%), ALV (10.6%), MOD (2.3%), ALSN (10.7%)

	BWA	Better Performance than BWA
Metric	Value	Sector (Consumer Discretionary)
Rev Chg LTM	0.1%	AMZN (10.9%), BABA (5.3%), HD (8.5%), TM (6.4%), MCD (1.2%)
Rev Chg 3Y Avg	7.8%	AMZN (11.3%), TSLA (9.3%), TM (13.9%), BKNG (17.8%), MELI (39.5%)
Op Mgn LTM	9.3%	AMZN (11.4%), BABA (14.6%), HD (13.1%), MCD (46.1%), TJX (11.2%)
CFO/Rev LTM	12.1%	AMZN (18.1%), TSLA (16.5%), BABA (15.0%), MCD (39.9%), BKNG (33.2%)
FCF/Rev LTM	8.9%	BABA (15.0%), MCD (28.1%), BKNG (31.9%), LOW (9.2%), MELI (32.9%)
Total Yield	2.0%	AMZN (2.7%), BABA (38.3%), HD (6.4%), TM (2238.3%), MCD (6.2%)

	BWA	Better Performance than BWA
Metric	Value	All Other Sectors
Rev Chg LTM	0.1%	NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AVGO (28.0%)
Rev Chg 3Y Avg	7.8%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AVGO (24.0%), META (17.3%)
Op Mgn LTM	9.3%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
CFO/Rev LTM	12.1%	NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AVGO (42.4%)
FCF/Rev LTM	8.9%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield	2.0%	AAPL (2.8%), MSFT (3.4%), GOOGL (3.9%), META (4.0%), BRK-B (6.4%)

		Best Bets In Consumer Discretionary Sector
	BWA	ABNB	BKNG	MCD	ETSY	LOPE	ALSN	CROX	GRMN	YUM	WH
What You Pay
P/E	71.6	28.7	31.5	25.9	32.9	21.1	9.7	18.9	25.2	29.1	16.4
P/EBIT	17.4	28.9	18.9	17.8	14.5	16.5	7.1	16.5	22.2	17.0	9.7
What You Get
Rev Chg Q	4.1%	12.7%	12.7%	3.0%	2.4%	8.8%	-15.9%	3.4%	11.7%	9.6%	-3.5%
Rev Chg LTM	0.1%	10.2%	13.0%	1.2%	2.0%	6.5%	-4.2%	2.0%	16.6%	11.3%	3.4%
Rev Chg 3Y Avg	7.8%	16.3%	17.8%	4.2%	4.9%	5.8%	4.6%	14.5%	12.2%	5.9%	-2.5%
FCF/Rev 3Y Avg	5.8%	40.5%	35.6%	27.4%	23.8%	22.6%	21.0%	19.8%	20.5%	19.0%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	How Low Can BorgWarner Stock Really Go?	Return
2	After BWA's 17% Climb in a Month, CHTR Looks Like the Stronger Long-Term Play	Counter-Intuitive Comparisons
3	Big Move for BWA, but Do TMHC's Margins and Growth Give It the Edge?	Counter-Intuitive Comparisons
4	How Does BorgWarner Stock Stack Up Against Its Peers?	Peer Comparison
5	Better Bet Than BWA Stock: Pay Less Than BorgWarner To Get More From UAL, IBKR
6	Better Bet Than BWA Stock: Pay Less Than BorgWarner To Get More From DFH, GRBK
7	BWA Dip Buy Analysis
8	BorgWarner Total Shareholder Return (TSR): -9.1% in 2024 and -4.3% 3-yr compounded annual returns (above peer average)
9	BorgWarner (BWA) Operating Cash Flow Comparison	Financials
10	BorgWarner (BWA) Net Income Comparison	Financials
11	ARTICLES
12	Small Cap Stocks Trading At 52-Week High		August 19th, 2025
13	Small Cap Stocks Trading At 52-Week High		August 2nd, 2025
14	Sell EV Makers And Buy Supplier Stocks In 2022?		January 3rd, 2022
15	EV Supplier Stocks To Watch Following Hertz Big EV Order		October 28th, 2021
16	BorgWarner, Amphenol: How Is Our EV Supplier Stocks Theme Faring?		July 12th, 2021

	Title
0	DASHBOARDS
1	How Low Can BorgWarner Stock Really Go?
2	After BWA's 17% Climb in a Month, CHTR Looks Like the Stronger Long-Term Play
3	Big Move for BWA, but Do TMHC's Margins and Growth Give It the Edge?
4	How Does BorgWarner Stock Stack Up Against Its Peers?
5	Better Bet Than BWA Stock: Pay Less Than BorgWarner To Get More From UAL, IBKR
6	Better Bet Than BWA Stock: Pay Less Than BorgWarner To Get More From DFH, GRBK
7	BWA Dip Buy Analysis
8	BorgWarner Total Shareholder Return (TSR): -9.1% in 2024 and -4.3% 3-yr compounded annual returns (above peer average)
9	BorgWarner (BWA) Operating Cash Flow Comparison
10	BorgWarner (BWA) Net Income Comparison
11	ARTICLES
12	Small Cap Stocks Trading At 52-Week High
13	Small Cap Stocks Trading At 52-Week High
14	Sell EV Makers And Buy Supplier Stocks In 2022?
15	EV Supplier Stocks To Watch Following Hertz Big EV Order
16	BorgWarner, Amphenol: How Is Our EV Supplier Stocks Theme Faring?

Trade Ideas

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

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy	10312025	LRN	Stride	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.7%	5.7%	0.0%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312025	DECK	Deckers Outdoor	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.4%	0.4%	-2.4%
ATGE_10312025_Quality_Momentum_RoomToRun_10%	10312025	ATGE	Adtalem Global Education	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-0.5%	-0.5%	-5.9%
GNTX_10242025_Dip_Buyer_FCFYield	10242025	GNTX	Gentex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.2%	-0.2%	-2.2%
LNW_10172025_Dip_Buyer_FCFYield	10172025	LNW	Light & Wonder	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-3.6%	-3.6%	-6.2%
BWA_6302022_Dip_Buyer_FCFYield	06302022	BWA	BorgWarner	Dip Buy	DB \| 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_FCFYield	07312019	BWA	BorgWarner	Dip Buy	DB \| 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_FCFYield	12312018	BWA	BorgWarner	Dip Buy	DB \| 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 Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy	10312025	LRN	Stride	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.7%	5.7%	0.0%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312025	DECK	Deckers Outdoor	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.4%	0.4%	-2.4%
ATGE_10312025_Quality_Momentum_RoomToRun_10%	10312025	ATGE	Adtalem Global Education	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-0.5%	-0.5%	-5.9%
GNTX_10242025_Dip_Buyer_FCFYield	10242025	GNTX	Gentex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.2%	-0.2%	-2.2%
LNW_10172025_Dip_Buyer_FCFYield	10172025	LNW	Light & Wonder	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-3.6%	-3.6%	-6.2%
BWA_6302022_Dip_Buyer_FCFYield	06302022	BWA	BorgWarner	Dip Buy	DB \| 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_FCFYield	07312019	BWA	BorgWarner	Dip Buy	DB \| 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_FCFYield	12312018	BWA	BorgWarner	Dip Buy	DB \| 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

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
SLDP	Solid Power	1.5	51.6%	350.3%
LMND	Lemonade	5.8	34.2%	114.6%
RIGL	Rigel Pharmaceuticals	0.7	33.4%	125.0%
TDC	Teradata	2.6	32.6%	-11.8%
KW	Kennedy-Wilson	1.4	31.2%	2.7%
SEDG	SolarEdge Technologies	2.4	28.9%	201.6%
VCYT	Veracyte	3.6	27.5%	16.3%
AIP	Arteris	0.6	26.1%	52.4%
DAWN	Day One Biopharmaceuticals	0.9	25.2%	-27.9%
ALGT	Allegiant Travel	1.3	25.1%	-22.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BHVN	Biohaven	0.9	-40.2%	-77.7%
TREX	Trex	3.5	-31.1%	-53.0%
SLNO	Soleno Therapeutics	2.4	-26.6%	4.3%
PRGO	Perrigo	2.1	-25.2%	-39.3%
WWW	Wolverine World Wide	1.4	-24.3%	-23.1%
PINS	Pinterest	17.4	-21.8%	-11.2%
ACMR	ACM Research	2.0	-19.9%	106.2%
RPD	Rapid7	0.9	-19.9%	-64.6%
INNV	InnovAge	0.5	-17.6%	1.5%
SUPN	Supernus Pharmaceuticals	2.6	-17.4%	30.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	126.8%	228.3%
SLDP	Solid Power	1.5	54.2%	350.3%
CSIQ	Canadian Solar	1.7	42.3%	124.8%
CSTL	Castle Biosciences	1.0	41.4%	26.0%
MTSR	Metsera	7.5	36.7%	71379900.0%
GH	Guardant Health	11.8	31.5%	211.1%
KW	Kennedy-Wilson	1.4	31.4%	2.7%
TDC	Teradata	2.6	30.5%	-11.8%
VCYT	Veracyte	3.6	30.0%	16.3%
DAWN	Day One Biopharmaceuticals	0.9	29.8%	-27.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.4	-63.1%	47.6%
SOC	Sable Offshore	0.5	-57.2%	-75.2%
FMC	FMC	1.7	-54.0%	-71.3%
BHVN	Biohaven	0.9	-53.9%	-77.7%
DD	DuPont de Nemours	16.6	-51.8%	-47.2%
ALVO	Alvotech	1.4	-38.2%	-63.1%
WOLF	Wolfspeed	3.2	-36.7%
SVV	Savers Value Village	1.3	-35.2%	-16.1%
NWL	Newell Brands	1.3	-34.7%	-66.5%
APLS	Apellis Pharmaceuticals	2.5	-33.6%	-37.5%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
PRAX	Praxis Precision Medicines	3.5	216.4%	113.9%
INBX	Inhibrx Biosciences	1.3	145.6%	434.2%
TERN	Terns Pharmaceuticals	1.7	127.7%	228.3%
VTYX	Ventyx Biosciences	0.6	126.1%	311.0%
PUMP	ProPetro	1.1	99.3%	16.2%
VICR	Vicor	4.3	95.1%	96.4%
REPL	Replimune	0.8	84.5%	-29.1%
SNDK	SanDisk	31.4	79.0%
CSIQ	Canadian Solar	1.7	73.3%	124.8%
ATXS	Astria Therapeutics	0.7	68.9%	41.2%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	0.5	-70.6%	-75.2%
FMC	FMC	1.7	-57.1%	-71.3%
QURE	uniQure	1.4	-55.0%	47.6%
DD	DuPont de Nemours	16.6	-49.8%	-47.2%
FI	Fiserv	35.3	-49.5%	-68.8%
LRN	Stride	3.1	-48.6%	-30.8%
ONDS	Ondas	0.9	-45.9%	134.4%
BHVN	Biohaven	0.9	-44.5%	-77.7%
LAC	Lithium Americas	1.0	-44.3%	55.2%
ALVO	Alvotech	1.4	-43.5%	-63.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
SLDP	Solid Power	1.5	51.6%	350.3%
LMND	Lemonade	5.8	34.2%	114.6%
RIGL	Rigel Pharmaceuticals	0.7	33.4%	125.0%
TDC	Teradata	2.6	32.6%	-11.8%
KW	Kennedy-Wilson	1.4	31.2%	2.7%
SEDG	SolarEdge Technologies	2.4	28.9%	201.6%
VCYT	Veracyte	3.6	27.5%	16.3%
AIP	Arteris	0.6	26.1%	52.4%
DAWN	Day One Biopharmaceuticals	0.9	25.2%	-27.9%
ALGT	Allegiant Travel	1.3	25.1%	-22.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BHVN	Biohaven	0.9	-40.2%	-77.7%
TREX	Trex	3.5	-31.1%	-53.0%
SLNO	Soleno Therapeutics	2.4	-26.6%	4.3%
PRGO	Perrigo	2.1	-25.2%	-39.3%
WWW	Wolverine World Wide	1.4	-24.3%	-23.1%
PINS	Pinterest	17.4	-21.8%	-11.2%
ACMR	ACM Research	2.0	-19.9%	106.2%
RPD	Rapid7	0.9	-19.9%	-64.6%
INNV	InnovAge	0.5	-17.6%	1.5%
SUPN	Supernus Pharmaceuticals	2.6	-17.4%	30.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	126.8%	228.3%
SLDP	Solid Power	1.5	54.2%	350.3%
CSIQ	Canadian Solar	1.7	42.3%	124.8%
CSTL	Castle Biosciences	1.0	41.4%	26.0%
MTSR	Metsera	7.5	36.7%	71379900.0%
GH	Guardant Health	11.8	31.5%	211.1%
KW	Kennedy-Wilson	1.4	31.4%	2.7%
TDC	Teradata	2.6	30.5%	-11.8%
VCYT	Veracyte	3.6	30.0%	16.3%
DAWN	Day One Biopharmaceuticals	0.9	29.8%	-27.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.4	-63.1%	47.6%
SOC	Sable Offshore	0.5	-57.2%	-75.2%
FMC	FMC	1.7	-54.0%	-71.3%
BHVN	Biohaven	0.9	-53.9%	-77.7%
DD	DuPont de Nemours	16.6	-51.8%	-47.2%
ALVO	Alvotech	1.4	-38.2%	-63.1%
WOLF	Wolfspeed	3.2	-36.7%
SVV	Savers Value Village	1.3	-35.2%	-16.1%
NWL	Newell Brands	1.3	-34.7%	-66.5%
APLS	Apellis Pharmaceuticals	2.5	-33.6%	-37.5%

Peer Comparisons for BorgWarner

Financials

	BWA	APTV	ALSN	LEA	GNTX	CREV	Median
Name	BorgWarn.	Aptiv	Allison .	Lear	Gentex	Carbon R.
Mkt Price	44.88	83.61	80.76	109.14	23.60	4.47	62.82
Mkt Cap	9.6	18.2	6.8	5.8	5.2	-	6.8
Rev LTM	14,183	19,794	3,069	22,985	2,385	-	14,183
Op Inc LTM	1,317	2,089	944	832	466	-	944
FCF LTM	1,261	1,657	628	735	405	-	735
FCF 3Y Avg	816	1,341	647	591	338	-	647
CFO LTM	1,711	2,342	804	1,294	554	-	1,294
CFO 3Y Avg	1,479	2,165	801	1,173	500	-	1,173

Growth & Margins

	BWA	APTV	ALSN	LEA	GNTX	CREV	Median
Name	BorgWarn.	Aptiv	Allison .	Lear	Gentex	Carbon R.
Rev Chg LTM	0.1%	-1.0%	-4.2%	-20.8%	2.4%	-	-1.0%
Rev Chg 3Y Avg	7.8%	7.7%	4.6%	6.0%	11.1%	-	7.7%
Rev Chg Q	4.1%	3.1%	-15.9%	1.7%	14.8%	-	3.1%
QoQ Delta Rev Chg LTM	1.0%	0.8%	-4.1%	0.4%	3.7%	-	0.8%
Op Mgn LTM	9.3%	10.6%	30.8%	3.6%	19.5%	-	10.6%
Op Mgn 3Y Avg	9.1%	9.8%	30.4%	3.7%	20.3%	-	9.8%
QoQ Delta Op Mgn LTM	0.1%	0.1%	-0.5%	-0.1%	-0.3%	-	-0.1%
CFO/Rev LTM	12.1%	11.8%	26.2%	5.6%	23.2%	-	12.1%
CFO/Rev 3Y Avg	10.5%	11.0%	26.0%	4.8%	21.8%	-	11.0%
FCF/Rev LTM	8.9%	8.4%	20.5%	3.2%	17.0%	-	8.9%
FCF/Rev 3Y Avg	5.8%	6.8%	21.0%	2.4%	14.7%	-	6.8%

Valuation

	BWA	APTV	ALSN	LEA	GNTX	CREV	Median
Name	BorgWarn.	Aptiv	Allison .	Lear	Gentex	Carbon R.
Mkt Cap	9.6	18.2	6.8	5.8	5.2	-	6.8
P/S	0.7	0.9	2.2	0.3	2.2	-	0.9
P/EBIT	17.4	9.3	7.1	7.5	11.1	-	9.3
P/E	71.6	18.0	9.7	13.1	12.9	-	13.1
P/CFO	5.6	7.8	8.4	4.5	9.4	-	7.8
Total Yield	2.0%	5.6%	10.7%	10.5%	9.8%	-	9.8%
Dividend Yield	0.6%	0.0%	0.4%	2.9%	2.1%	-	0.6%
FCF Yield 3Y Avg	9.2%	6.5%	9.6%	9.5%	5.6%	-	9.2%
D/E	0.4	0.5	0.4	0.5	0.0	-	0.4
Net D/E	0.2	0.4	0.2	0.3	-0.0	-	0.2

Returns

	BWA	APTV	ALSN	LEA	GNTX	CREV	Median
Name	BorgWarn.	Aptiv	Allison .	Lear	Gentex	Carbon R.
1M Rtn	1.1%	-4.6%	-4.7%	6.0%	-13.6%	8.0%	-1.7%
3M Rtn	18.4%	28.4%	-8.5%	15.5%	-10.9%	-3.7%	5.9%
6M Rtn	49.3%	41.9%	-16.7%	29.3%	10.2%	56.3%	35.6%
12M Rtn	33.8%	51.4%	-25.8%	17.4%	-20.6%	36.7%	25.6%
3Y Rtn	40.0%	-14.4%	96.1%	-13.6%	-6.8%	-	-6.8%
1M Excs Rtn	4.7%	-3.2%	-4.7%	8.6%	-12.6%	5.5%	0.8%
3M Excs Rtn	10.8%	19.9%	-14.8%	7.3%	-18.3%	-8.3%	-0.5%
6M Excs Rtn	28.6%	21.2%	-37.4%	8.6%	-10.5%	35.6%	14.9%
12M Excs Rtn	17.5%	29.7%	-42.8%	-2.2%	-39.8%	20.2%	7.7%
3Y Excs Rtn	-34.0%	-83.7%	23.3%	-90.5%	-81.7%	-	-81.7%

Comparison Analyses

	Title
0	How Does BorgWarner Stock Stack Up Against Its Peers?
1	Why APTV With 23% Upside May Beat BWA?
2	With 45% Gains On The Table, GNTX May Outshine BWA
3	LEA Could Deliver 10% Returns And Outperform BWA
4	BWA or ALSN - With 12% Return Forecast, ALSN Probably Deserves Your Money
5	BorgWarner vs. Roper Technologies: With Return Forecast Of 26%, BorgWarner Is A Better Bet
6	BorgWarner vs. Edwards Lifesciences: With Return Forecast Of 21%-26%, Both Seem Like Good Bets
7	BorgWarner vs. Synopsys: With Return Forecast Of 26%, BorgWarner Is A Better Bet
8	BorgWarner vs. Teva Pharmaceutical Industries: With Return Forecast Of 23%, BorgWarner Is A Better Bet
9	BorgWarner vs. Newell Rubbermaid: With Return Forecast Of 38%, Newell Rubbermaid Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	2/6/2025	2/8/2024	2/9/2023	2/15/2022	2/22/2021	2/13/2020
Key Financials
Total Revenue	14,183	14,086	14,198	12,635	11,803	10,165	10,168
EBITDA	1,281	1,296	1,646	1,536	1,166	1,605	1,759
Operating Income	1,317	1,303	1,263	1,083	1,099	925	1,230
Net Income	134	338	625	944	537	500	746
EPS	0.65	1.51	2.68	4.01	2.25	2.35	3.63
Growth Rates
Total Revenue Growth	0.1%	-0.8%	12.4%	7.0%	16.1%	-0.0%	-3.4%
EBITDA Growth	-23.8%	-21.3%	7.2%	31.7%	-27.4%	-8.8%	4.3%
Operating Income Growth	3.1%	3.2%	16.6%	-1.5%	18.8%	-24.8%	-4.5%
Net Income Growth	-85.1%	-45.9%	-33.8%	75.8%	7.4%	-33.0%	-19.9%
Margins
EBITDA Margin	9.0%	9.2%	11.6%	12.2%	9.9%	15.8%	17.3%
Operating Income Margin	9.3%	9.3%	8.9%	8.6%	9.3%	9.1%	12.1%
Net Income Margin	0.9%	2.4%	4.4%	7.5%	4.5%	4.9%	7.3%
Cash & Debt
Total Cash	2,172	2,094	1,534	1,083	1,844	1,650	832
Total Debt	4,060	4,343	3,929	4,307	4,522	4,006	2,045
Net Debt / (Cash)	1,888	2,249	2,395	3,224	2,678	2,356	1,213
Cash Flows
Net Cash from Operations	1,711	1,382	1,397	1,180	1,210	1,184	1,008
Free Cash from Operations	1,261	729	565	558	694	723	527
Returns to Shareholders
Dividends	108	98	130	161	162	146	140
Share Repurchases	211	402	177	240	-0	216	100

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/7/2025	2/6/2025	10/31/2024	7/31/2024	5/2/2024	2/8/2024	11/2/2023	8/2/2023	5/4/2023	2/9/2023
Key Financials Quarterly
Total Revenue	3,591	3,638	3,515	3,439	3,449	3,603	3,595	3,522	3,622	3,671	3,383	3,317
Ebitda	492	487	415	-113	479	475	455	273	465	437	407	384
Operating Income	323	320	326	348	296	348	316	317	322	342	285	304
Net Income	158	224	157	-405	234	303	206	154	50	204	217	255
EPS	0.74	1.04	0.72	-1.85	1.04	1.34	0.91	0.67	0.21	0.88	0.93	1.09
Key Financials TTM
Total Revenue TTM	14,183	14,041	14,006	14,086	14,169	14,342	14,410	14,198	13,993	13,597	13,685	14,176
Ebitda TTM	1,281	1,268	1,256	1,296	1,682	1,668	1,630	1,582	1,693	1,547	1,604	1,711
Operating Income TTM	1,317	1,290	1,318	1,308	1,277	1,303	1,297	1,266	1,253	1,213	1,184	1,265
Net Income TTM	134	210	289	338	897	713	614	625	726	949	961	944
Growth Rates Quarterly
Total Revenue Growth	4.1%	1.0%	-2.2%	-2.4%	-4.8%	-1.9%	6.3%	6.2%	12.3%	-2.3%	-12.7%	435.0%
EBITDA Growth	2.7%	2.5%	-8.8%	-141.4%	3.0%	8.7%	11.8%	-28.9%	45.8%	-11.5%	-20.8%	404.8%
Operating Income Growth	9.1%	-8.0%	3.2%	9.8%	-8.1%	1.8%	10.9%	4.3%	14.2%	9.3%	-22.1%	30300.0%
Net Income Growth	-32.5%	-26.1%	-23.8%	-363.0%	368.0%	48.5%	-5.1%	-39.6%	-81.7%	-5.6%	8.5%	97.7%
Margins Quarterly
EBITDA Margin	13.7%	13.4%	11.8%	-3.3%	13.9%	13.2%	12.7%	7.8%	12.8%	11.9%	12.0%	11.6%
Operating Income Margin	9.0%	8.8%	9.3%	10.1%	8.6%	9.7%	8.8%	9.0%	8.9%	9.3%	8.4%	9.2%
Net Income Margin	4.4%	6.2%	4.5%	-11.8%	6.8%	8.4%	5.7%	4.4%	1.4%	5.6%	6.4%	7.7%
Cash & Debt
Total Cash	2,172	2,041	1,707	2,094	2,000	1,288	1,037	1,534	949	848	950	1,083
Total Debt	4,060	4,077	4,040	4,343	4,739	3,874	3,883	3,929	3,860	4,451	4,442	4,307
Net Debt / (Cash)	1,888	2,036	2,333	2,249	2,739	2,586	2,846	2,395	2,911	3,603	3,492	3,224
Cash Flows Quarterly
FCF from Operations	368	579	82	682	356	462	-118	887	221	230	59	628
Cash Flows TTM
FCF from Operations TTM	1,711	1,699	1,582	1,382	1,587	1,452	1,220	1,397	1,138	1,137	1,123	1,180
Returns to Shareholders Quarterly
Dividends	36	24	24	24	24	25	25	25	26	40	39	40
Share Repurchases	102	108	-0	1	301	-0	100	177	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	47.7%	51.4%	41.2%	61.9%	41.1%	53.8%	34.9%	39.3%	19.5%	33.8%	23.8%	34.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	29.8%	37.2%	43.6%	46.2%	42.2%	39.7%	33.0%	37.4%	32.1%	27.5%	26.9%	30.7%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Drivetrain & Morse Systems	4,262	3,963
Turbos & Thermal Technologies	3,938
Other	3,185
Corporate	1,733	1,694	1,722	2,133	1,091
Battery & Charging Systems	1,335
Aftermarket		1,281	1,179	806
Air Management		5,376	6,229	5,714	4,536
Fuel Systems		2,227	2,282	1,964
PowerDrive Systems		2,453
E-Propulsion & Drivetrain			5,163	5,412	4,075
Total	14,453	16,994	16,575	16,029	9,702

Price Behavior

Price Behavior

Market Price	$44.88
Market Cap ($ Bil)	9.6
First Trading Date	08/13/1993
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$43.44	$34.94
DMA Trend	up	up
Distance from DMA	3.3%	28.4%
	3M	1YR
Volatility	23.9%	30.3%
Downside Capture	-4.14	67.35
Upside Capture	84.83	84.61
Correlation (SPY)	23.1%	55.6%

BWA Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.09	0.25	0.46	0.82	0.85	0.95
Up Beta	0.34	1.03	1.71	1.32	0.97	0.99
Down Beta	0.13	0.05	-0.17	0.29	0.84	0.81
Up Capture	-16%	16%	69%	111%	73%	83%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	14	27	40	74	143	408
Down Capture	16%	18%	-6%	30%	76%	101%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	9	17	25	53	108	342

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of BWA With Other Asset Classes (Last 1Y)
	BWA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	35.4%	23.3%	20.3%	44.6%	1.0%	-2.3%	44.1%
Annualized Volatility	30.1%	24.8%	19.5%	19.9%	16.3%	18.0%	37.0%
Sharpe Ratio	1.01	0.79	0.82	1.74	-0.12	-0.28	0.78
Correlation With Other Assets		54.0%	55.4%	-2.7%	13.1%	47.7%	24.4%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of BWA With Other Asset Classes (Last 5Y)
	BWA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	8.4%	11.5%	17.3%	15.8%	13.5%	7.1%	50.1%
Annualized Volatility	32.9%	23.8%	17.1%	15.6%	18.9%	19.1%	49.2%
Sharpe Ratio	0.31	0.44	0.83	0.81	0.59	0.28	0.77
Correlation With Other Assets		49.5%	52.6%	5.6%	19.1%	43.4%	18.8%

Based On 10-Year Data

		Comparison of BWA With Other Asset Classes (Last 10Y)
	BWA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.7%	12.8%	14.4%	12.7%	5.1%	5.1%	78.7%
Annualized Volatility	34.3%	21.9%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.17	0.54	0.69	0.71	0.22	0.21	0.96
Correlation With Other Assets		56.3%	58.2%	-0.2%	27.3%	42.5%	12.1%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	7,454,712
Short Interest: % Change Since 9302025	4.4%
Average Daily Volume	2,077,049
Days-to-Cover Short Interest	3.59
Basic Shares Quantity	213,700,000
Short % of Basic Shares	3.5%

Returns Analyses

	Title
0	How Low Can BorgWarner Stock Really Go?
1	BWA YTD Stock Return Of 0.7% Outperforms LEA by 10% and Underperforms ALSN by -29%
2	BorgWarner Stock Return Comparison
3	BorgWarner Total Shareholder Return (TSR): -9.2% in 2022 and -0.8% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/30/2025	3.1%
7/31/2025	6.6%	10.2%	24.3%
5/7/2025	4.4%	14.2%	11.3%
2/6/2025	-3.0%	-7.3%	-4.0%
10/31/2024	0.2%	3.9%	2.3%
7/31/2024	8.8%	-1.8%	3.7%
5/2/2024	8.4%	14.1%	8.5%
2/8/2024	-6.9%	-8.0%	-5.0%
...
SUMMARY STATS
# Positive	14	8	14
# Negative	10	16	10
Median Positive	4.2%	8.3%	9.9%
Median Negative	-6.1%	-4.6%	-8.2%
Max Positive	8.8%	14.2%	30.4%
Max Negative	-13.1%	-12.8%	-21.2%

	Forward Returns
10/30/2025	3.1%
7/31/2025	6.6%	10.2%	24.3%
5/7/2025	4.4%	14.2%	11.3%
2/6/2025	-3.0%	-7.3%	-4.0%
10/31/2024	0.2%	3.9%	2.3%
7/31/2024	8.8%	-1.8%	3.7%
5/2/2024	8.4%	14.1%	8.5%
2/8/2024	-6.9%	-8.0%	-5.0%
11/2/2023	-13.1%	-12.8%	-8.2%
8/2/2023	-7.5%	-9.8%	-12.4%
5/4/2023	-7.9%	-4.6%	3.0%
2/9/2023	2.8%	5.9%	3.2%
10/27/2022	0.9%	-0.5%	15.6%
8/3/2022	2.5%	-1.3%	-1.8%
5/4/2022	2.2%	-4.8%	5.9%
2/15/2022	5.9%	-0.9%	-10.4%
11/3/2021	-0.1%	-1.2%	-5.6%
8/4/2021	-5.3%	-7.1%	-13.4%
5/5/2021	5.4%	6.5%	12.3%
2/11/2021	-1.9%	-1.4%	15.6%
10/29/2020	-3.3%	-2.2%	7.8%
8/5/2020	4.2%	12.3%	16.0%
5/6/2020	4.1%	4.7%	30.4%
1/28/2020	-7.6%	-10.4%	-21.2%
SUMMARY STATS
# Positive	14	8	14
# Negative	10	16	10
Median Positive	4.2%	8.3%	9.9%
Median Negative	-6.1%	-4.6%	-8.2%
Max Positive	8.8%	14.2%	30.4%
Max Negative	-13.1%	-12.8%	-21.2%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	5072025	10-Q 3/31/2025
12312024	2062025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	7312024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2082024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8022023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2092023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	8032022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	2152022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Weng Volker	Vice President	9082025	Sell	43.97	10,000	439,707	2,990,359	Form
1	Demmerle Stefan	Vice President	9082025	Sell	44.00	5,000	220,006	9,858,015	Form
2	MICHAS ALEXIS P		9032025	Sell	42.31	8,772	371,184	3,338,768	Form
3	McKenzie Isabelle	Vice President	8292025	Sell	42.93	2,690	115,470	2,286,008	Form
4	McKenzie Isabelle	Vice President	8142025	Sell	40.01	2,500	100,025	2,238,365	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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BorgWarner (BWA)

Market Price (11/6/2025): $44.88 | Market Cap: $9.6 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment

BorgWarner (BWA)

Market Price (11/6/2025): $44.88Market Cap: $9.6 BilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment

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BWA Stock

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Market Price (11/6/2025): $44.88 | Market Cap: $9.6 Bil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Market Price (11/6/2025): $44.88
Market Cap: $9.6 Bil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment