BigBear.ai Holdings, Inc. (BBAI)

BigBear.ai Holdings, Inc. provides artificial intelligence-powered decision intelligence solutions for national security, supply chain management, and digital identity markets. It offers supply chain and logistics solutions, such as Data Conflation at Scale, which offers a view of operations enabling real-time tracking of inventory and facilitating predictive analytics to optimize functions, including routes and delivery times; Discrete Event Simulation, a course of action analysis and digital twin solution; and Next-Gen Decision Support solution for macroeconomic and geopolitical forecasting. The company also provides cybersecurity solutions, such as artificial intelligence (AI)-powered/machine-accelerated binary analysis, cyber-physical systems vulnerability testing and evaluation, vulnerability assessment as a service, and specialized services for the department of defense and intelligence community; and autonomous systems solutions, AI/machine learning (ML) decision intelligence solutions, and AI orchestration as a service, as well as specialized consulting services. In addition, it offers digital identity services comprising security solutions specializing in customized digital identity, biometrics, AI/ML, and advanced analytics software and solutions for global trade, travel, and digital identity industries; and Ask Sage Platform, a generative AI platform for secure AI deployment, orchestration, and agentic capabilities across defense, intelligence, and other highly regulated environments. The company was founded in 1988 and is headquartered in McLean, Virginia.

Symbol: BBAI
Exchange: NYSE
Sector: Technology
Industry: Information Technology Services
Market cap: $1.36B
52 week range: 2.59 - 9.39

Valuation

Share price: $2.84 (close of 2026-09-23)
P/E (TTM): -94.67x
Price to book: 1.77x
Price to free cash flow: -18.73x
Enterprise value: $1.35B
Book value per share: $1.61

Price performance

Period	Change
1 day	-1.73%
5 days	+4.03%
1 month	-11.80%
3 months	-24.67%
6 months	-22.83%
Year to date	-47.41%
1 year	-64.46%
3 years	+100.00%
5 years	-71.31%
All time	-71.11%

Profitability and growth

Return on equity: -48.04%
Return on invested capital: -30.05%
Return on assets: -32.86%
Return on capital employed: -30.17%
Gross margin: 22.31%
Net margin: -230.21%
EBITDA margin: -155.57%
Revenue growth: -19.32%
Net income growth: 0.55%
Free cash flow growth: -10.03%

Cash flow and balance sheet

Free cash flow yield (TTM): -5.34%
Current ratio: 5.67x
Net debt to EBITDA: 0.18x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $127.67M
Cost of revenue: $99.19M
Gross profit: $28.48M
EBITDA: $-198.62M
Net income: $-293.91M
Earnings per share: $-0.82
Research and development: $16.75M
Shares outstanding: 358.80M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$127.67M	$28.48M	$-293.91M	$-0.82
2024-12-31	$158.24M	$45.22M	$-295.55M	$-1.27
2023-12-31	$155.16M	$40.60M	$-70.66M	$-0.47
2022-12-31	$155.01M	$42.99M	$-111.37M	$-0.87
2021-12-31	$145.58M	$34.07M	$-123.55M	$-1.15
2019-12-31	$73.63M	$17.50M	$6.25M	$0.00

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	22.31%	-230.21%	-48.04%	-30.05%
2024-12-31	28.58%	-186.78%	7957.65%	-143.88%
2023-12-31	26.17%	-45.54%	235.53%	-38.84%
2022-12-31	27.74%	-71.84%	-1141.64%	-55.04%
2021-12-31	23.40%	-84.87%	-77.37%	-27.50%
2019-12-31	23.76%	8.48%	53.50%	63.53%