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Borgwarner (BWA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Borgwarner (BWA) Q3 2026 earnings results →
Q3 2026 Revenue down 3% year over year to $3.5B · 6¢ of every $1 of revenue kept as net profit · operating margin 8.7%
Borgwarner made $3.5B in Q3 2026 (-3% Y/Y): Turbos & Thermal Technologies $1.4B, Drivetrain & Morse Systems $1.3B, PowerDrive Systems $699M. Operating margin 8.7%, net earnings $221M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $3.5B in Q3 2026, down 3% year over year and down 4% from the previous quarter. Turbos & Thermal Technologies was the largest line at 39% of revenue. Drivetrain & Morse Systems lost $0.11B year over year (down 7%), 103% of the total change.
Gross margin was 19.0%, up 0.5 points from Q3 2025. Operating profit was $0.30B, a 8.7% margin (up 1.8 points year over year). Operating expenses fell 13% while revenue fell 3%. Net earnings were $0.22B, up 40% year over year. The effective tax rate was 21.8%.
Operating cash flow was $0.32B (down 13% year over year), 137% of net income including minority interests. Non-cash charges added back $0.15B of depreciation and amortization. Working capital and other items used $0.07B. After capital expenditures, including tooling outlays ($0.12B), free cash flow as the company reports it was $0.20B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $3.5B | -3% | 8.7% | $221M | $320M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $3.6B | +0.3% | 10.1% | $277M | $586M |
| Q1 2026 | 10-Q | May 6, 2026 | $3.5B | +0.5% | 9.5% | $242M | $152M |
| Q4 2025 | 10-K | Feb 11, 2026 | $3.6B | +4% | -6.7% | −$241M | $619M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $3.6B | +4% | 6.9% | $158M | $368M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $3.6B | +1% | 7.9% | $224M | $579M |
| Q1 2025 | 10-Q | May 7, 2025 | $3.5B | -2% | 6.7% | $157M | $82.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Volkswagen — 13% of its revenue · Stated in 10-K (sentence) · source
- F — 12% of its revenue · Stated in 10-K (sentence) · source
About Borgwarner
BorgWarner Inc. (collectively with its consolidated subsidiaries, the “Company” or “BorgWarner”) is a Delaware corporation incorporated in 1987. The Company is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. BorgWarner’s products help improve vehicle performance, propulsion efficiency, stability and air quality. The Company manufactures and sells these products worldwide, primarily to original equipment manufacturers (“OEMs”) of light vehicles (passenger cars, sport-utility vehicles, vans and light trucks). The Company’s products are also sold to OEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway vehicles (agricultural and construction machinery and marine applications).
In its own words, from its 10-K, filed Feb 11, 2026.
Borgwarner against its Motor Vehicle Parts & Accessories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +2%. Operating margin: 8.7% against the peers' median 7.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BWA Borgwarner | Q3 2026 | $3.5B | -3% | 8.7% |
| LEA Lear | Q3 2026 | $5.8B | +2% | 3.4% |
| ADNT Adient | Q4 FY26 | $3.7B | +1% | -0.1% |
| APTV Aptiv | Q3 2026 | $3.2B | +2% | 8.8% |
| DCH Dauch | Q3 2026 | $2.9B | +93% | 2.5% |
| ALV Autoliv | Q3 2026 | $2.7B | -0.5% | 9.4% |
| VGNT Versigent | Q3 2026 | $2.5B | +7% | 7.6% |
| DAN Dana | Q3 2026 | $2.0B | +6% | 4.5% |
| ALSN Allison Transmission Holdings | Q3 2026 | $1.5B | +121% | 19.8% |
Source: Borgwarner 10-Q on SEC EDGAR · CIK 908255 · Motor Vehicle Parts & Accessories
Guidance and outlook
13F: who owns BWA and who is buying
More on BWA
- How Borgwarner makes money: revenue by segment
- Borgwarner next earnings date and what analysts expect
- Borgwarner stock forecast, price target and fair value
- Who owns Borgwarner stock: holders, funds and Congress trades
- Borgwarner guidance and outlook
- Is Borgwarner a takeover target? LBO and rumors
- Borgwarner recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Borgwarner guidance history: guided vs reported
- Borgwarner gross margin by quarter
- Borgwarner operating margin by quarter
- Borgwarner net income by quarter
- Borgwarner free cash flow by quarter
- Borgwarner capital expenditures by quarter
- Borgwarner Turbos & Thermal Technologies revenue by quarter
- Borgwarner Drivetrain & Morse Systems revenue by quarter
- Borgwarner PowerDrive Systems revenue by quarter