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PARTIAL
Analysis Report
Apr 22, 2026
Partial analysis — no complete end-to-end run on record.
Technology · Information Technology Services
Price
$4.11
Market Cap
$1.5B
Employees
630
Beta
3.05
Avg Volume
44,625,174
CEO
Kevin McAleenan
Business Description
BigBear.ai Holdings, Inc. provides artificial intelligence and machine learning for decision support. The company operates through two segments, Cyber & Engineering and Analytics. The Cyber & Engineering segment offers high-end technology and management consulting services. It focuses in the areas of cloud engineering and enterprise IT, cybersecurity, computer network operations and wireless, systems engineering, and strategy and program planning. The Analytics segment provides high-end technology and consulting services. This segment focuses on the areas of big data computing and analytical solutions, including predictive and prescriptive analytics solutions. Its solutions assist customers in aggregating, interpreting, and synthesizing data to enable real-time decision-making capabilities. The company is headquartered in Columbia, Maryland.
Business History
Generated: Apr 22, 2026 5:24pmPrice Overview
Last updated: May 12, 2026 11:27am (just now)$4.11
-0.22 (-4.98%)
Day Range
$4.09 – $4.30
52-Week Range
$3.01 – $9.39
50-Day MA
$3.79
200-Day MA
$5.46
Volume
13,835,779.00
Analyst Price Targets
Low
$6.00
Consensus
$6.00
High
$6.00
(3 analysts)
Share Structure
Outstanding
358,629,213.00
Float
355,966,552.00
Free Float
99.3%
High free float
— 99.3% of shares trade freely, ~0.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-5.01
Stock Price: $4.11
EPS (Diluted): -0.82
EPS (Diluted): -0.82
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.17
Stock Price: $4.11
Total Equity: $611.87M
Shares: 3,588,013,750
Total Equity: $611.87M
Shares: 3,588,013,750
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-6.26
Market Cap: $1.47B
Total Debt: $24.33M
Cash: $87.13M
EBITDA: -$260.52M
Total Debt: $24.33M
Cash: $87.13M
EBITDA: -$260.52M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$1.9B
Market Cap: $1.47B
Total Debt: $24.33M
Cash: $87.13M
Total Debt: $24.33M
Cash: $87.13M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
22.3%
Gross Profit: $28.48M
Revenue: $127.67M
Revenue: $127.67M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-65.3%
Operating Income: -$83.41M
Revenue: $127.67M
Revenue: $127.67M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-230.2%
Net Income: -$293.91M
Revenue: $127.67M
Revenue: $127.67M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-50.7%
Net Income: -$293.91M
Total Equity: $611.87M
Total Equity: $611.87M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-10.7%
Operating Income: -$83.41M
Tax Rate: 6.9%
Equity: $611.87M
Total Debt: $24.33M
Cash: $87.13M
Tax Rate: 6.9%
Equity: $611.87M
Total Debt: $24.33M
Cash: $87.13M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.78
Current Assets: $330.54M
Current Liabilities: $185.52M
Current Liabilities: $185.52M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.04
Short-Term Debt: $17.66M
Long-Term Debt: $6.67M
Total Debt: $24.33M
Total Equity: $611.87M
Long-Term Debt: $6.67M
Total Debt: $24.33M
Total Equity: $611.87M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.04
Revenue: $127.67M
Shares: 3,588,013,750
Shares: 3,588,013,750
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.17
Total Equity: $611.87M
Shares: 3,588,013,750
Shares: 3,588,013,750
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.01
Operating CF: -$41.95M
CapEx: -$525,000
Shares: 3,588,013,750
CapEx: -$525,000
Shares: 3,588,013,750
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.11
Stock Price: $4.11
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$293.91M
Net Income: -$293.91M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares BBAI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
Not applicable for Pre Profit Growth companies
4b
Earnings Power Value
— Floor value — worth with zero growth
Not applicable for Pre Profit Growth companies
4c
Anchored PE
— Industry PE adjusted for growth differential
Not applicable for Pre Profit Growth companies
4d
Reverse DCF
— What growth is the market pricing in?
Not applicable for Pre Profit Growth companies
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for Pre Profit Growth companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for Pre Profit Growth companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: May 9, 2026 5:06pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $145.6M | $155.0M | $155.2M | $158.2M | $127.7M |
| Cost of Revenue | $111.5M | $112.0M | $114.6M | $113.0M | $99.2M |
| Gross Profit | $34.1M | $43.0M | $40.6M | $45.2M | $28.5M |
| Operating Expenses | $112.5M | $153.5M | $79.6M | $178.6M | $111.9M |
| Operating Income | -$78.5M | -$110.5M | -$39.0M | -$133.4M | -$83.4M |
| Net Income | -$123.6M | -$111.4M | -$70.7M | -$295.5M | -$293.9M |
| EBITDA | -$107.4M | -$48.2M | -$22.3M | -$258.3M | -$260.5M |
| EPS | $-1.15 | $-0.95 | $-0.40 | $-1.27 | $-0.82 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: May 8, 2026 1:59pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $68.9M | $12.6M | $32.6M | $50.1M | $87.1M |
| Total Current Assets | $206.2M | $54.3M | $63.8M | $93.8M | $330.5M |
| Total Assets | $383.3M | $195.3M | $199.9M | $343.8M | $894.5M |
| Current Liabilities | $70.0M | $35.8M | $68.6M | $203.0M | $185.5M |
| Long-Term Debt | $190.4M | $192.3M | $194.3M | $135.4M | $6.7M |
| Total Liabilities | $261.0M | $233.2M | $267.2M | $347.5M | $282.7M |
| Total Equity | $122.4M | -$37.9M | -$67.3M | -$3.7M | $611.9M |
| Retained Earnings | -$131.4M | -$253.1M | -$313.4M | -$571.6M | -$865.6M |
Cash Flow (Annual)
Last updated: May 9, 2026 5:06pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$19.8M | -$48.9M | -$18.3M | -$38.1M | -$42.0M |
| Capital Expenditure | $-639,000 | $-769,000 | -$3.8M | -$11.1M | $-525,000 |
| Free Cash Flow | -$20.4M | -$49.7M | -$22.1M | -$49.2M | -$42.5M |
| Acquisitions (net) | $-224,000 | -$4.5M | $0 | $13.9M | -$229.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$100.9M | -$5.7M | $0 | $0 |
| Net Change in Cash | $160.2M | -$157.3M | $19.9M | $17.6M | $42.5M |
Analyst Estimates (Annual)
Last updated: May 12, 2026 11:27am (just now)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$169.0M $167.7M – $169.6M
|
$133.7M $131.9M – $135.5M
|
$143.0M $140.7M – $145.2M
|
$159.2M $156.6M – $162.0M
|
| EBITDA |
-$107.9M -$108.3M – -$107.1M
|
-$85.4M -$86.5M – -$84.2M
|
-$91.3M -$92.7M – -$89.8M
|
-$101.6M -$103.4M – -$100.0M
|
| Net Income |
-$2.7B -$2.9B – -$2.4B
|
-$3.3B -$3.6B – -$3.0B
|
-$849.2M -$883.2M – -$815.2M
|
-$592.6M -$605.5M – -$579.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: May 9, 2026 5:06pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +6.5% | +0.1% | +2.0% | -19.3% |
| Gross Profit Growth | +26.2% | -5.6% | +11.4% | -37.0% |
| Operating Income Growth | -40.8% | +64.7% | -241.8% | +37.5% |
| Net Income Growth | +9.9% | +36.6% | -318.3% | +0.6% |
| EBITDA Growth | +55.2% | +53.7% | -1,057.4% | -0.9% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-08 | HAYES DOROTHY D | S-Sale | 15,000.00 | $4.11 | $61,575 |
| 2026-03-31 | Ricker Sean Raymond | F-InKind | 4,324.00 | $3.04 | $13,145 |
| 2026-04-01 | Ricker Sean Raymond | F-InKind | 10,665.00 | $3.52 | $37,541 |
| 2026-03-31 | Blankenship Carolyn | F-InKind | 5,606.00 | $3.04 | $17,042 |
| 2026-04-01 | Blankenship Carolyn | F-InKind | 13,649.00 | $3.52 | $48,044 |
| 2026-03-31 | McAleenan Kevin | F-InKind | 22,392.00 | $3.04 | $68,072 |
| 2026-04-01 | McAleenan Kevin | F-InKind | 39,424.00 | $3.52 | $138,772 |
| 2026-03-26 | Ricker Sean Raymond | A-Award | 122,107.00 | $0.00 | $0 |
| 2026-03-26 | Blankenship Carolyn | A-Award | 125,923.00 | $0.00 | $0 |
| 2026-03-26 | McAleenan Kevin | A-Award | 290,730.00 | $0.00 | $0 |
| 2026-03-16 | Braden Pamela Joyce | S-Sale | 80,000.00 | $4.00 | $320,000 |
| 2026-03-06 | HAYES DOROTHY D | S-Sale | 17,000.00 | $3.98 | $67,660 |
| 2026-03-02 | Ricker Sean Raymond | A-Award | 49,999.00 | $0.00 | $0 |
| 2026-03-02 | Ricker Sean Raymond | F-InKind | 18,725.00 | $3.96 | $74,151 |
| 2026-03-02 | Blankenship Carolyn | A-Award | 36,143.00 | $0.00 | $0 |
| 2026-03-02 | Blankenship Carolyn | F-InKind | 15,075.00 | $3.96 | $59,697 |
| 2026-03-02 | McAleenan Kevin | A-Award | 104,311.00 | $0.00 | $0 |
| 2026-03-02 | McAleenan Kevin | F-InKind | 46,449.00 | $3.96 | $183,938 |
| 2026-01-15 | McAleenan Kevin | F-InKind | 48,691.00 | $6.26 | $304,806 |
| 2025-12-31 | Ricker Sean Raymond | F-InKind | 6,625.00 | $5.50 | $36,438 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.199 · e0c1fd0f · 2026-05-11 20:12:48