BWMN Industrials

Bowman Consulting Group Ltd.

$42.96+0.16%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 744.7M USD
Enterprise value: 798.1M USD
Full-time employees: 2,500

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.48 vs a peer median of 0.64) and less short-term liquidity (current ratio 0.90 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.48 vs peers 0.64) and less liquidity (current ratio 0.90 vs peers 1.62)

Ranks #1,791 of 2,308 industrials companies (bottom 23%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 28% from December 2022 to August 2026.
Bowman Consulting had 28% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Bowman Consulting had 28% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay outran buybacks. Stock-based pay expense $69M vs $43M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Bowman Consulting recorded $69M of stock-based pay expense and spent $43M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Bowman Consulting recorded $69M of stock-based pay expense and spent $43M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Operating margin at a 6-year high. 4.0% in 2025, the best of the last 6 years.
Bowman Consulting kept 4.0% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profits growing faster than sales. Since 2022: revenue +87%, operating profit +284%.
Since 2022, Bowman Consulting's revenue grew 87% while operating profit grew 284%: each extra dollar of sales is adding more profit.

StockQuotient Score

36/ 100

Oct 5 36 → Nov 4 36

Valuation

Is the price right?

28/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.95Sector median: 0.0377 · MAD: 0.0294

EBITDA yield4.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.55Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield1.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.54Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield34.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

70/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.8%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-32.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.61Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth19.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.52Sector median: 0.0421 · MAD: 0.0625

Revenue growth14.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.28Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

27/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin3.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.86Sector median: 0.0773 · MAD: 0.0507

Return on assets1.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.80Sector median: 0.0311 · MAD: 0.0241

Return on invested capital4.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.48Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin53.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity2.9%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.48

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.05Sector median: 0.6440 · MAD: 0.2745

Current ratio0.90×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.34Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.26×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.41Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Bowman Consulting

Is Bowman Consulting getting weaker?: Its latest SEC filing (Aug 10, 2026) showed no major changes. Its overall score is unchanged at 36/100 since Oct 28, 2026.
How is Bowman Consulting valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 28/100 against 2,459 industrials peers. Earnings yield 1.0% vs a peer median of 3.8% (weaker than 75% of peers).Earnings yield 1.0% vs peers 3.8% (weaker than 75% of peers).
Is Bowman Consulting growing?: Yes, faster than most of its peers. Growth scores 70/100 against 2,459 industrials peers. 3-year revenue growth 19.9% vs a peer median of 4.2% (stronger than 91% of peers).3-year revenue growth 19.9% vs peers 4.2% (stronger than 91% of peers). Earnings per share growth -32.9% vs a peer median of 7.1% (weaker than 84% of peers).Earnings per share growth -32.9% vs peers 7.1% (weaker than 84% of peers).
How profitable is Bowman Consulting?: Less profitable than most of its peers. Profitability scores 27/100 against 2,459 industrials peers. Operating margin 3.4% vs a peer median of 7.7% (weaker than 75% of peers).Operating margin 3.4% vs peers 7.7% (weaker than 75% of peers).
How risky is Bowman Consulting?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.26× vs a peer median of 0.40× (stronger than 62% of peers).Debt / equity 0.26× vs peers 0.40× (stronger than 62% of peers). Beta 1.48 vs a peer median of 0.64 (weaker than 93% of peers).Beta 1.48 vs peers 0.64 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	503.6M USD	527.6M USD	+4.8%
Net income (12 months)	10.9M USD	7.4M USD	−32.3%
Operating margin	3.7%	3.4%	−0.3 pts
Free cash flow (12 months)	32.1M USD	12.6M USD	−60.9%
Debt	71.4M USD	67.2M USD	−6.0%
Cash	12.0M USD	10.5M USD	−13.0%
Shares outstanding	17.5M	17.3M	−1.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	50.3%	51.6%	50.8%	52.2%	53.4%	▲ 1.1 pts
Operating margin	0.1%	2.0%	-0.2%	-0.5%	4.0%	▲ 4.5 pts
Net margin	0.2%	1.9%	-1.9%	0.7%	2.6%	▲ 1.9 pts
Return on assets (ROA)	0.2%	2.0%	-1.6%	0.6%	2.2%	▲ 1.6 pts
Return on equity (ROE)	0.4%	4.1%	-4.1%	1.2%	4.9%	▲ 3.7 pts
Free cash flow margin	2.5%	3.2%	2.8%	5.6%	6.8%	▲ 1.3 pts
Current ratio	2.26×	1.48×	1.22×	1.31×	0.99×	▼ 24%
Debt to equity	0.22×	0.30×	0.26×	0.22×	0.31×	▲ 37%

BWMN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.48 vs a peer median of 0.64) and less short-term liquidity (current ratio 0.90 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.48 vs peers 0.64) and less liquidity (current ratio 0.90 vs peers 1.62)

Ranks #1,791 of 2,308 industrials companies (bottom 23%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 28% from December 2022 to August 2026.

Bowman Consulting had 28% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Bowman Consulting had 28% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay outran buybacks. Stock-based pay expense $69M vs $43M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Bowman Consulting recorded $69M of stock-based pay expense and spent $43M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Bowman Consulting recorded $69M of stock-based pay expense and spent $43M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Operating margin at a 6-year high. 4.0% in 2025, the best of the last 6 years.

Bowman Consulting kept 4.0% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profits growing faster than sales. Since 2022: revenue +87%, operating profit +284%.

Since 2022, Bowman Consulting's revenue grew 87% while operating profit grew 284%: each extra dollar of sales is adding more profit.

Questions investors ask about Bowman Consulting

Is Bowman Consulting getting weaker?

Its latest SEC filing (Aug 10, 2026) showed no major changes. Its overall score is unchanged at 36/100 since Oct 28, 2026.

How is Bowman Consulting valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 28/100 against 2,459 industrials peers. Earnings yield 1.0% vs a peer median of 3.8% (weaker than 75% of peers).Earnings yield 1.0% vs peers 3.8% (weaker than 75% of peers).

Is Bowman Consulting growing?

Yes, faster than most of its peers. Growth scores 70/100 against 2,459 industrials peers. 3-year revenue growth 19.9% vs a peer median of 4.2% (stronger than 91% of peers).3-year revenue growth 19.9% vs peers 4.2% (stronger than 91% of peers). Earnings per share growth -32.9% vs a peer median of 7.1% (weaker than 84% of peers).Earnings per share growth -32.9% vs peers 7.1% (weaker than 84% of peers).

How profitable is Bowman Consulting?

Less profitable than most of its peers. Profitability scores 27/100 against 2,459 industrials peers. Operating margin 3.4% vs a peer median of 7.7% (weaker than 75% of peers).Operating margin 3.4% vs peers 7.7% (weaker than 75% of peers).

How risky is Bowman Consulting?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.26× vs a peer median of 0.40× (stronger than 62% of peers).Debt / equity 0.26× vs peers 0.40× (stronger than 62% of peers). Beta 1.48 vs a peer median of 0.64 (weaker than 93% of peers).Beta 1.48 vs peers 0.64 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

503.6M USD

527.6M USD

+4.8%

Net income (12 months)

10.9M USD

7.4M USD

−32.3%

Operating margin

3.7%

3.4%

−0.3 pts

Free cash flow (12 months)

32.1M USD

12.6M USD

−60.9%

Debt

71.4M USD

67.2M USD

−6.0%

Cash

12.0M USD

10.5M USD

−13.0%

Shares outstanding

17.5M

17.3M

−1.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

50.3%

51.6%

50.8%

52.2%

53.4%

▲ 1.1 pts

Operating margin

0.1%

2.0%

-0.2%

-0.5%

4.0%

▲ 4.5 pts

Net margin

0.2%

1.9%

-1.9%

0.7%

2.6%

▲ 1.9 pts

Return on assets (ROA)

0.2%

2.0%

-1.6%

0.6%

2.2%

▲ 1.6 pts

Return on equity (ROE)

0.4%

4.1%

-4.1%

1.2%

4.9%

▲ 3.7 pts

Free cash flow margin

2.5%

3.2%

2.8%

5.6%

6.8%

▲ 1.3 pts

Current ratio

2.26×

1.48×

1.22×

1.31×

0.99×

▼ 24%

Debt to equity

0.22×

0.30×

0.26×

0.22×

0.31×

▲ 37%