Babcock & Wilcox Enterprises, Inc. (BW) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 21, 2026

Risk Assessment Details

Potential Dilution: 219.66% of current shares
Recent Dilution: 55.74% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
150M
Potential Supply
330M
Additional shares possible
Splits
None
Past 2 years

Summary

BW currently has 149M outstanding shares. with significant dilution risk as 327M authorized shares could dilute existing holders by 219.7%. The company has significantly diluted shareholders by 55.74% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 21, 2026

S-3 filing: Resale offering of up to 11,657,221 shares of common stock by selling stockholders, including 1,197,221 shares and 10,460,000 shares issuable upon the exercise of warrants.

150M 330M
May 18, 2026

8-K filing: Babcock & Wilcox Enterprises, Inc. completed an underwritten public offering of 12,432,432 shares of common stock, including 1,621,621 shares issued upon full exercise of the underwriters' option.

130M 320M
May 11, 2026

10-Q filing | 133.8M shares outstanding

130M 320M
Mar 16, 2026

10-K filing | 135.3M shares outstanding

140M 320M
Nov 10, 2025

10-Q filing | 103.0M shares outstanding

100M 320M
May 12, 2025

10-Q filing | 97.9M shares outstanding

98M 320M
Mar 31, 2025

10-K filing | 91.7M shares outstanding

92M 320M
Nov 21, 2024

S-3 filing: Babcock& Wilcox Enterprises, Inc. may offer and sell from time to time our common stock, preferred stock, depositary shares, warrants, subscription rights, debt securities and purchase contracts, as well as units that include any of these securities with an aggregate initial offering price of $600,000,000.

92M 320M
Nov 12, 2024

10-Q filing | 92.3M shares outstanding

92M 11M
Aug 08, 2024

10-Q filing | 91.2M shares outstanding

91M 11M
May 09, 2024

10-Q filing | 89.5M shares outstanding

89M 11M
Mar 15, 2024

10-K filing | 89.0M shares outstanding

89M 11M
Jan 05, 2024

8-K filing: The Babcock & Wilcox Company extended its consulting agreement with Henry E. Bartoli, a board member, and granted him 30,000 restricted stock units as consideration for his consulting services.

89M 11M
Nov 09, 2023

10-Q filing | 89.1M shares outstanding

89M 11M
Aug 08, 2023

10-Q filing | 88.8M shares outstanding

89M 11M
May 10, 2023

10-Q filing | 88.7M shares outstanding

89M 11M
Mar 16, 2023

10-K filing | 88.3M shares outstanding

88M 11M
Nov 08, 2022

10-Q filing | 88.3M shares outstanding

88M 11M
Aug 08, 2022

10-Q filing | 88.0M shares outstanding

88M 11M
May 09, 2022

10-Q filing | 88.0M shares outstanding

88M 11M
Mar 08, 2022

10-K filing | 83.6M shares outstanding

84M 11M
Jan 07, 2022

8-K filing: The Babcock & Wilcox Company amended a Consultant Agreement with Henry E. Bartoli, extending the term through December 31, 2023, and providing compensation including monthly fees, restricted stock units, and incentive awards.

86M 11M
Nov 10, 2021

10-Q filing | 86.0M shares outstanding

86M 11M
Nov 08, 2021

S-3 filing: Babcock & Wilcox Enterprises, Inc. files an S-3 registration statement for the potential offering of common stock, preferred stock, depositary shares, warrants, subscription rights, debt securities, purchase contracts, and units, with an aggregate initial offering price of $500,000,000.

86M 11M
Aug 12, 2021

10-Q filing | 85.7M shares outstanding

86M 11M
Jun 22, 2021

S-3 filing: This prospectus relates to the resale by the selling securityholders identified in this prospectus under the heading "Selling Securityholders," from time to time, of up to 2,916,880 shares of Preferred Stock and 10,720,785 shares of Common Stock.

86M 11M
Jun 04, 2021

8-K filing: Babcock & Wilcox Enterprises, Inc. issued 2,916,880 shares of its 7.75% Series A Cumulative Perpetual Preferred Stock and paid $850,171.45 in cash to B. Riley Financial, Inc. in exchange for a deemed prepayment of $73,330,152.36 of the Company's existing term loans.

86M 0
Jun 01, 2021

8-K filing: Babcock & Wilcox Enterprises, Inc. closed an underwritten public offering of 4,000,000 shares of its 7.75% Series A Cumulative Perpetual Preferred Stock on May 7, 2021, and completed the issuance of an additional 444,700 shares on May 26, 2021, after the Underwriters exercised their option, receiving net proceeds of $10,672,800 from the option exercise.

86M 0
May 13, 2021

10-Q filing | 85.7M shares outstanding

86M 0
May 07, 2021

8-K filing: Babcock & Wilcox Enterprises, Inc. closed its underwritten public offering of 4,000,000 shares of its 7.75% Series A Cumulative Perpetual Preferred Stock on May 7, 2021.

86M 0
Apr 22, 2021

S-3 filing: Babcock & Wilcox Enterprises, Inc. files an S-3 registration statement for the potential offering of various securities, including common stock, preferred stock, depositary shares, warrants, subscription rights, debt securities, purchase contracts, and units, up to an aggregate initial offering price of $350,000,000.

86M 0
Mar 09, 2021

S-3 filing: Babcock & Wilcox Enterprises, Inc. files an S-3 registration statement for $150,000,000 of Debt Securities.

86M 0
Mar 09, 2021

S-3 filing: This prospectus relates to the resale of up to $35,000,000 aggregate principal amount of our 8.125% senior notes due 2026.

86M 0
Mar 08, 2021

10-K filing | 85.6M shares outstanding

86M 0
Feb 12, 2021

8-K filing: Babcock & Wilcox Enterprises, Inc. closed its underwritten public offering of common stock, issuing 29,487,180 shares, and also closed its underwritten public offering of $125 million aggregate principal amount of 8.125% senior notes due 2026.

52M 0
Nov 13, 2020

10-Q filing | 52.0M shares outstanding

52M 0
Aug 12, 2020

10-Q filing | 49.3M shares outstanding

49M 0
May 15, 2020

10-Q filing | 46.4M shares outstanding

46M 0
Mar 30, 2020

10-K filing | 46.4M shares outstanding

46M 0
Feb 04, 2020

S-3 filing: Babcock & Wilcox Enterprises, Inc. files an S-3 registration statement for the potential offering of common stock, preferred stock, depositary shares, warrants, subscription rights, debt securities, purchase contracts, and units, with a total offering price of $300,000,000.

N/A 0
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