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1. Company Snapshot

1.a. Company Description

Broadwind, Inc.manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States.It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions.


The Heavy Fabrications segment provides fabrications to various industrial markets.It offers steel towers and adapters primarily to wind turbine manufacturers.The Gearing segment provides gearing, and gearboxes and systems for onshore and offshore oil and gas fracking and drilling, surface and underground mining, wind energy, steel, material handling, and other infrastructure markets.


This segment also offers heat treat services for aftermarket and original equipment manufacturer applications.The Industrial Solutions segment provides supply chain solutions for offering instrumentation and controls, valve assemblies, sensor devices, fuel system components, electrical junction boxes and wiring, energy storage services, and electromechanical devices; light fabrication, inventory management, and kitting and assembly services; packaging solutions; and fabricating services for panels and sub-assemblies to combined cycle natural gas turbine market.The company sells its products to the energy, mining, and infrastructure sector customers through its direct sales force and independent sales agents.


The company was formerly known as Broadwind Energy, Inc.and changed its name to Broadwind, Inc.in May 2020.


Broadwind, Inc.is headquartered in Cicero, Illinois.

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1.b. Last Insights on BWEN

Recent stock performance of Broadwind, Inc. was negatively driven by a quarterly loss of $0.04 per share in Q4, despite topping revenue estimates. The company's earnings release revealed weak profitability, which likely contributed to the decline. Additionally, an ongoing investigation by Glancy Prongay & Murray LLP into possible violations of state laws by Broadwind's directors and officers may have also weighed on investor sentiment.

1.c. Company Highlights

2. Broadwind's Q3 2025 Earnings: A Strong Foundation for Growth

Broadwind, Inc. reported a 25% year-over-year increase in consolidated revenues to $44.2 million in Q3 2025. The company's adjusted EBITDA declined by $2.4 million due to lower capacity utilization and manufacturing inefficiencies. Despite this, the company is updating its full-year 2025 revenue guidance to $155-160 million and maintaining its adjusted EBITDA range of $9-10 million. The actual EPS came out at $0.04, beating estimates of $0.03.

Publication Date: Nov -18

📋 Highlights
  • Order Growth in Power Generation:: Orders surged 90% YoY to $44M in Q3 2025, driven by power generation and renewables, with power generation orders doubling to 20% of revenue.
  • Asset Sale Boost:: Sale of Wisconsin industrial fabrication operations generated a $8.2M net gain, aiding financial restructuring efforts.
  • Revenue Increase Despite EBITDA Decline:: Q3 revenue rose 25% to $44.2M YoY, but adjusted EBITDA fell $2.4M due to underutilized capacity and manufacturing inefficiencies.
  • 2025 Guidance Update:: Full-year revenue guidance raised to $155–160M, with EBITDA range maintained at $9–10M, reflecting optimism on capacity utilization improvements.
  • 2026 Growth Drivers:: Strategic focus on power generation, gas turbines, and renewables, with 30% YoY gas turbine demand growth in 2025 and 2–3 years of sustained strength anticipated.

Segment Performance

The company's power generation customers more than doubled their orders versus last year, now representing nearly 20% of revenue. In the Gearing segment, the company is moving beyond traditional markets and pursuing new opportunities, with an increase in orders from traditional oil and gas customers due to reshoring efforts. In Industrial Solutions, the company is seeing growth in the natural gas turbine industry, driven by global demand for power.

Growth Drivers and Outlook

The company expects power generation and critical infrastructure to lift both Industrial Solutions and Gearing in 2026. The general business environment for the Gearing segment is positive, with strength in power generation, aggregates, and road maintenance. The company's margin profile for 2026 is expected to be stable, with some increases due to tariffs being passed on to customers.

Valuation and Metrics

With a P/E Ratio of -29.2 and an EV/EBITDA of 16.55, the market is pricing in a certain level of growth for Broadwind. The company's ROE is -3.71%, and ROIC is 0.91%, indicating room for improvement in returns. The Net Debt / EBITDA ratio is 5.81, which may be a concern. Analysts estimate next year's revenue growth at -4.6%, which may put pressure on the stock.

Investment Plans and Capacity Expansion

The company is making investments for growth, particularly in Industrial Solutions, with a focus on expanding capacity. They plan to increase floor space by 35% in 2026 and are making staffing and equipment investments to respond to demand. The demand for electricity and data centers is expected to drive growth, with the gas turbine market projected to remain strong for the next two to three years.

3. NewsRoom

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Comparing Coates International (OTCMKTS:COTE) & Broadwind Energy (NASDAQ:BWEN)

Dec -04

Source: defenseworld.net

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Broadwind, Inc. (BWEN) Q3 2025 Earnings Call Transcript

Nov -13

Source: seekingalpha.com

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Broadwind Announces Third Quarter 2025 Results

Nov -13

Source: globenewswire.com

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Broadwind Energy, Inc. (BWEN) Stock Falls Amid Market Uptick: What Investors Need to Know

Nov -04

Source: zacks.com

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Broadwind Announces Third Quarter 2025 Results Conference Call and Webcast Date

Oct -30

Source: globenewswire.com

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Broadwind Energy (NASDAQ:BWEN) versus ZJK Industrial (NASDAQ:ZJK) Critical Contrast

Oct -26

Source: defenseworld.net

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Broadwind Energy, Inc. (BWEN) Suffers a Larger Drop Than the General Market: Key Insights

Oct -22

Source: zacks.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Broadwind, Inc. - BWEN

Oct -18

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.39%)

6. Segments

Heavy Fabrications

Expected Growth: 4.5%

Growing demand for renewable energy, increasing adoption of wind power, and rising investments in infrastructure development are driving the growth of the heavy fabrication market.

Gearing

Expected Growth: 8.5%

Increasing adoption of renewable energy sources, government incentives, and advancements in wind turbine technology drive growth in the gearing segment, as wind energy production becomes more efficient and cost-effective.

Industrial Solutions

Expected Growth: 4.5%

Growing demand for renewable energy, increasing adoption of wind power, and rising investments in industrial infrastructure drive growth in Broadwind's industrial solutions segment.

7. Detailed Products

Wind Towers

Broadwind, Inc. designs and manufactures wind towers for the wind energy industry, providing a critical component for wind turbines.

Gearboxes

Broadwind, Inc. manufactures gearboxes for wind turbines, providing a critical component for efficient energy production.

Fabrication Services

Broadwind, Inc. offers fabrication services for heavy fabrications, including wind towers, gearboxes, and other large steel components.

Industrial Services

Broadwind, Inc. provides industrial services, including repair, maintenance, and upgrade services for heavy equipment and machinery.

8. Broadwind, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Broadwind, Inc. is medium due to the availability of alternative products and services in the heavy steel fabrication industry.

Bargaining Power Of Customers

The bargaining power of customers for Broadwind, Inc. is low due to the company's strong relationships with its customers and the lack of buyer concentration in the industry.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Broadwind, Inc. is medium due to the presence of multiple suppliers in the industry, but the company's dependence on a few key suppliers.

Threat Of New Entrants

The threat of new entrants for Broadwind, Inc. is low due to the high barriers to entry in the heavy steel fabrication industry, including the need for significant capital investment and technical expertise.

Intensity Of Rivalry

The intensity of rivalry for Broadwind, Inc. is high due to the competitive nature of the heavy steel fabrication industry, with multiple players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 38.73%
Debt Cost 9.32%
Equity Weight 61.27%
Equity Cost 10.66%
WACC 10.14%
Leverage 63.22%

11. Quality Control: Broadwind, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Xometry

A-Score: 4.6/10

Value: 6.6

Growth: 6.3

Quality: 2.9

Yield: 0.0

Momentum: 10.0

Volatility: 1.7

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Broadwind

A-Score: 3.9/10

Value: 8.2

Growth: 5.0

Quality: 3.6

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

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Helios Technologies

A-Score: 3.8/10

Value: 3.0

Growth: 4.0

Quality: 5.8

Yield: 1.0

Momentum: 6.0

Volatility: 3.0

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Babcock & Wilcox Enterprises

A-Score: 3.6/10

Value: 7.8

Growth: 3.2

Quality: 4.5

Yield: 0.0

Momentum: 6.0

Volatility: 0.0

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CVD Equipment

A-Score: 3.6/10

Value: 6.6

Growth: 3.6

Quality: 5.0

Yield: 0.0

Momentum: 5.0

Volatility: 1.3

1-Year Total Return ->

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TPI Composites

A-Score: 3.0/10

Value: 10.0

Growth: 3.2

Quality: 4.8

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.1$

Current Price

3.1$

Potential

-0.00%

Expected Cash-Flows