Restructuring and cost reductionsmixed · 5 filings
“The Segment Adjusted Operating margin loss decreased primarily due to the exit of the charging business and restructuring savings.”10-Q · Aug 5, 2026 ↗
BorgWarner Inc.
BWA
Market read
BorgWarner Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
What changed
- Revenue increased 0.3% versus the comparable filing period.
Company+1.6% todayVolume comparison unavailable
Market group0 of 1 activeAuto Parts · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- BorgWarner reported lower sales from unfavorable volume, mix, and net new business, alongside an estimated 1% decline in weighted average market production.
- Unfavorable volume, mix and net new business reduced net sales by approximately $115 million due to lower volumes in Europe.
Invalidation: The isolated read changes if BWA's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 0.3% versus the comparable filing period.
- Operating margin improved 2.2 percentage points.
- Net income increased 23.7% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- BorgWarner reported lower sales from unfavorable volume, mix, and net new business, alongside an estimated 1% decline in weighted average market production.
- Unfavorable volume, mix and net new business reduced net sales by approximately $115 million due to lower volumes in Europe.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements164
Verified relationships12
Evidence supporting the case
- Tariffs and trade policy has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
Questions before a position
- P/E is 201% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 56% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
66.726m+27.1%12m+54.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$11.8B+16.1%$2.24+11.9%
2022-12-31$12.6B+7.0%$3.99-1.1%
2023-12-31$14.2B+12.4%$2.67-1.0%
2024-12-31$14.1B-0.8%$1.50-4.1%
2025-12-31$14.3B+1.6%$1.28-3.7%
What management says matters
Persistent and emerging business drivers
Supply chain and availabilitymixed · 5 filings
“The Segment Adjusted Operating margin decreased due to lower sales, partially offset by supply chain savings and other cost actions.”10-Q · Aug 5, 2026 ↗
Tariffs and trade policymixed · 3 filings
“This was partially offset by the impact of foreign currencies of approximately $105 million due to a strengthening of the Euro and Chinese Renminbi, partially offset by a weakening of the Korean Won, in each case relative to the U.S Dollar, and $16 million of…”10-Q · Aug 5, 2026 ↗
Demand and volumenegative · 3 filings
“Favorable volume, mix and net new business increased net sales by approximately $62 million due to higher sales in Europe and customer recoveries, partially offset by lower volumes in China.”10-Q · Aug 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.0× · EV/sales 1.3×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
66.72+1.6% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BWA. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
Fundamentals strengthened in the latest filing
10-Q filed 2026-08-05 against the comparable filing from 2025-07-31.
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationmixed
Capital and cash conversion
Inventory built faster than revenue
Inventory growth exceeded revenue growth and inventory intensity increased.
- Capital spending YoY
- +21.9%
- Capital spending / revenue
- +3.3%
- Free-cash-flow margin
- +6.9%
- FCF margin change
- +0.4 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 0.3% versus the comparable filing period.
- Operating margin improved 2.2 percentage points.
- Net income increased 23.7% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Unfavorable volume, mix and net new business decreased sales by approximately $55 million, primarily due to a decrease of approximately 1% in the weighted average market production as estimated by the Company and a decrease in the Battery Energy Systems reportable segment.”
“Unfavorable volume, mix and net new business decreased sales by approximately $236 million primarily due to a decrease of approximately 1% in the weighted average market production as estimated by the Company and a decrease in the Battery Energy Systems reportable segment.”
“Fluctuations in foreign currencies resulted in a year-over-year increase in cost of sales of approximately $182 million, primarily due to a strengthening of the Euro and Chinese Renminbi, partially offset by a weakening of the Korean Won, in each case relative to the U.S.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind BWA
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
JYNTFiling-linked namepartnerFeb 11, 2026 ▾
“Certain information concerning the Company's joint ventures is set forth below: Joint venture Products Year organized Percentage owned by the Company Location of operation Joint venture partner Unconsolidated: NSK-Warner K.K.”
CYATYFiling-linked namecompetitorFeb 11, 2026 ▾
“The Company’s major non-OEM competitors are Robert Bosch GmbH, Denso Corporation, Garrett Motion, Hitachi, Ltd., Magna Powertrain (an operating unit of Magna International Inc.), Valeo, Schaeffler Group and Contemporary Amperex Technology Co., Limited.”
Depended on by
CMICummins Inc.competitorFeb 10, 2026 ▾
“Our primary competitors include Daimler, PACCAR, Traton, BYD Company Limited, Dana Incorporated and BorgWarner Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BWA is currently a Leader in the organic co-movement group Auto Parts. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BWA; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.