Bowman Consulting Group Ltd. key statistics and ratios

In fiscal 2025, Bowman Consulting Group Ltd. had return on equity of 5.1%, an operating margin of 4.0%, debt equal to 58.6% of equity and a current ratio of 0.99. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bowman Consulting Group Ltd.: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	45.5%	50.3%	51.6%	50.8%	52.2%	53.4%	53.4%
Operating margin	1.5%	0.1%	2.0%	−0.2%	−0.5%	4.0%	3.4%
Net margin	0.8%	0.2%	1.9%	−1.9%	0.7%	2.6%	1.4%
Free-cash-flow margin	8.1%	2.5%	3.2%	2.8%	5.6%	6.8%	2.4%
Return on equity	5.8%	0.6%	5.0%	−4.6%	1.5%	5.1%	2.9%
Return on assets	1.6%	0.3%	2.5%	−2.0%	0.7%	2.4%	1.2%
Asset turnover	1.92	1.49	1.33	1.05	0.94	0.90	0.88
Current ratio	1.50	2.26	1.48	1.22	1.31	0.99	0.90
Debt to equity	36.8%	22.1%	30.4%	45.4%	30.5%	58.6%	70.7%
Effective tax rate	50.0%	—	—	—	—	−15.2%	—
SG&A as % of revenue	42.2%	46.0%	45.0%	45.7%	46.3%	43.9%	44.5%
Capital spending as % of revenue	0.8%	0.6%	0.3%	0.6%	0.1%	0.5%	2.0%
Free cash flow ÷ net income	994.5%	>999%	165.2%	—	780.3%	260.2%	170.2%
Dividends and buybacks ÷ free cash flow	12.8%	15.3%	0.0%	7.7%	98.6%	56.2%	171.8%

US$ thousands unless shown otherwise. Fiscal quarters.

Bowman Consulting Group Ltd.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	52.4%	53.2%	51.4%	53.7%	53.1%	55.0%	52.1%	53.2%
Operating margin	0.4%	1.2%	1.0%	7.4%	4.2%	3.2%	0.1%	5.6%
Net margin	0.7%	5.2%	−1.5%	4.9%	5.3%	1.5%	−2.9%	1.7%
Free-cash-flow margin	5.8%	10.7%	9.7%	3.4%	8.0%	6.3%	7.6%	−10.5%
Current ratio	1.43	1.31	1.25	1.26	1.30	0.99	0.93	0.90
Debt to equity	14.9%	15.5%	14.9%	12.8%	11.4%	22.1%	20.2%	17.6%
SG&A as % of revenue	45.6%	45.6%	44.7%	40.8%	43.8%	46.2%	45.7%	42.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · June 30, 2026

What it owns · $620m

Short-term assets $236mLonger-term assets $385m

What it owes, and who funded it · $620m

Short-term liabilities $261mLonger-term liabilities $102mShareholders' equity $256m

Short-term assets cover short-term liabilities $236m of assets due within a year against $261m of liabilities due within a year.
Short-term assets cover long-term liabilities $236m short-term assets against $102m of longer-dated liabilities.
More cash than debt $10m of cash against $45m of debt.
Debt below 40% of shareholders' equity Debt is 18% of equity.
Debt burden no higher than five years ago Debt to equity moved from 16% to 18% over five years.
A year's operating cash flow covers at least 20% of debt $23m of operating cash flow against $45m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bowman Consulting Group Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

19 /100

Weak moat

How hard Bowman Consulting Group's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median 0.1% of total assets over 5 years.
Pricing power 17 / 20

Gross margin has been a median 51.4%, moving by 2.0 percentage points (standard deviation) across 6 years.
Durability 0 / 20

Operating margin has been a median 0.9%; its worst year was -1.3%.
Cash conversion 11 / 20

Free cash flow was positive in 6 of 6 years, at a median 2.9% of revenue.
Discipline 5 / 20

The diluted share count rose 198.2% over five years; stock-based pay has been a median 5.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (34 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Bowman Consulting Group Ltd.'s SEC filings (10-K and 10-Q), retrieved October 31, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bowman Consulting Group Ltd.