BigBear.ai (BBAI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

BigBear.ai

NYSE•Technology•Information Technology Services

$2.92-0.06(-0.02%)Market closed

Market Cap

$1.34B

P/S

10.2x

P/B

1.7x

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.

How this company scores

WeakMetricSide Score: 33/100

Grade capped at D — Interest coverage below 1× (-126.4x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (17/25); weakest: Cash & Earnings Quality (2/25).

Profitability8/25

Growth6/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality2/25

Strengths

Low leverageProfit converts from growthImproving leverageNet cash position

Grade capped at D

Interest coverage below 1× (-126.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 10.2x5y range 0.5x – 17.8x

Currently above its 19-quarter median.

P/B · 1.7x5y range 1.7x – 81.8x

Currently below its 12-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.34B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $131.63M
Q. Revenue: $36.75M
TTM EBITDA: $-132.95M
TTM Op. Income: $-155.20M
Q. Op. Income: $-28.56M
TTM Net Income: $-85.82M
Q. Net Income: $-25.75M
EPS: $-0.05
Shares Out.: $479.12M

$131.63M in TTM revenue declined 13.7% YoY, reaching $36.75M last quarter. TTM EBITDA of $-132.95M and TTM operating income of $-155.20M show growth is flowing through to the bottom line. However, net income is negative at $85.82M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 14% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 32.8%
EBITDA Margin: -59.2%
Op. Margin: -77.7%
Net Margin: -70.1%

Op. margin of -77.7% is up 200.4% YoY — cost efficiency is improving. Net margin at -70.1% and gross margin of 32.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 72% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 10.2x
P/B Ratio: 1.7x

P/S of 10.2x and P/B of 1.7x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $841.31M
Cash: $36.28M
Long-Term Debt: $16.64M
Book Value: $770.32M
D/E Ratio: 0.0
Debt/EBITDA: N/A

With $841.31M in assets and $16.64M in long-term debt, D/E is 0.0and book value is $770.32M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 94% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-22.21M
TTM Free Cash Flow: $-72.70M
FCF Margin: -55.2%
FCF / Net Income: 0.8

TTM FCF of $-72.70M on $-22.21M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 4 consecutive quarters — a weakening trend.