BWMN Bowman Consulting Group Ltd.

Overview and Growth

In fiscal 2025, Bowman Consulting Group Ltd. recorded $490.02M of revenue, net income of $12.85M, and an operating cash inflow of $35.83M. At $490.02M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $426.56M in fiscal 2024, revenue recorded a 14.9% year-over-year increase. On a per-share basis, diluted EPS was $0.73, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 329.4% increase from fiscal 2024 diluted EPS of $0.17. Asset turnover was 0.85x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $261.54M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 53.4% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $19.66M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 4.0% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $12.85M, after the operating, financing, tax, and other items recognized for the period. Net margin was 2.6%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $11.16M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 2.3%, adding a pre-tax profitability layer between revenue and net income. The reported tax benefit was $1.69M, favorably bridging the pretax and after-tax results. The tax benefit equaled 15.2% of positive pretax income, lifting the after-tax result.

Liquidity and Capital Structure

The company held $579.68M of assets against $318.58M of liabilities and $261.11M of equity, revealing how the asset base was financed. The near-term balance sheet paired $212.96M of current assets with $214.73M of current liabilities at the reporting date. At 0.99x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. The company held $11.07M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 5.2% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $57.60M, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 0.22x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 9.9%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 55.0%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 1.9% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Cash flow from operations was $35.83M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.79x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $2.39M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 6.7% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $33.43M, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 6.8%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 5.8%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.