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Woodward

WWD Nasdaq Electrical Components & Equipment Financials FY2016–FY2025

Woodward's revenue rose 7.3% to $3.6 billion in fiscal 2025. Its net margin was 12.4%, up from 11.2% a year earlier. Free cash flow was $340 million, down 0.7%. It paid out $238 million in dividends and buybacks, 70% of free cash flow. The diluted share count fell 1.0%.

Last close · Oct 23, 2026

$303.55

0.4%
Value it Compare
Revenue Total sales reported in the income statement.
$3.6B
7.3% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$442M
18.5%
Free cash flow Cash from operations minus capital spending.
$340M
0.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
16.8%
1.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$18.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
33.8x
On $8.99 EPS (TTM)

What Woodward does

No business description yet.

Legal name
WOODWARD, INC.
Fiscal year ends
September 30, 2025
Latest annual report
—
Accession · CIK
0001193125-25-296204
0000108312

Revenue and margins

Woodward had $3.6B of revenue in fiscal 2025, up 7.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 10.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $340M in fiscal 2025, 9.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Woodward returned $238M to shareholders in fiscal 2025, 70% of free cash flow. The diluted share count fell 1.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Woodward yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$378M and divides by 61.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 33.8x · peers 27.4x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Woodward can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $449M$108M$137M$282M$327M
Debt incl. finance leases $736M$783M$725M$875M$705M
Net debt / EBITDA 0.7x1.9x1.3x1.0x0.6x
Debt / equity 0.3x0.4x0.4x0.4x0.3x
Interest coverage 8.2x6.8x6.8x10.5x12.4x
Current ratio 4.0x2.4x2.4x1.9x2.1x
Quick ratio 2.9x1.5x1.5x1.2x1.4x
Total assets $4.1B$3.8B$4.0B$4.4B$4.6B
Total liabilities $1.9B$1.9B$1.9B$2.2B$2.1B
Shareholders' equity $2.2B$1.9B$2.1B$2.2B$2.6B
Net debt (− = net cash) $288M$675M$588M$593M$378M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$16.8M

4 insiders

Of sales under plans

69%

$11.6M

DateInsiderTradeSharesPriceValueFiling
Jul 31, 2026 Shawn M McLevigeEVP and President, Aerospace Sold plan 2,150 $356.82 $0.8M Form 4
Jun 4, 2026 Daniel G. KorteDirector Sold 14,700 $356.05 $5.2M Form 4
May 20, 2026 Karrie M. BemEVP, Gen Counsel & Corp Sec Sold plan 185 $355.00 $0.1M Form 4
May 18, 2026 Karrie M. BemEVP, Gen Counsel & Corp Sec Sold plan 185 $352.48 $0.1M Form 4
May 15, 2026 Karrie M. BemEVP, Gen Counsel & Corp Sec Sold plan 279 $361.44 $0.1M Form 4
May 14, 2026 Karrie M. BemEVP, Gen Counsel & Corp Sec Sold plan 280 $372.66 $0.1M Form 4
Mar 10, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 2,625 $384.80 $1.0M Form 4
Mar 9, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 5,000 $367.40 $1.8M Form 4
Mar 6, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 5,000 $374.84 $1.9M Form 4
Mar 5, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 5,000 $384.75 $1.9M Form 4
Mar 4, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 5,000 $384.45 $1.9M Form 4
Mar 3, 2026 Charles P BlankenshipChairman of the Board and CEO, Director Sold plan 5,000 $384.64 $1.9M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✕
F-score 8 / 96 / 98 / 9
Accruals ratio −2.0%−1.6%−0.7%
Altman Z'' 5.425.456.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Woodward WWD $18.5B 7.3% — 9.5% 16.8% 33.8x 8
Nextpower NXT $12.2B 20.3% 19.6% 14.4% 54.5% 20.4x 3 Compare →
Sensata Technologies ST $5.9B −5.8% 6.4% 13.2% 2.2% 67.3x 6 Compare →
EnerSys ENS $6.2B 3.7% 11.4% 12.5% 13.7% 17.8x 5 Compare →
nVent Electric NVT $20.6B 29.5% 15.8% 9.6% 9.3% 34.4x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.0B $2.1B $2.3B $2.9B $2.5B $2.2B $2.4B $2.9B $3.3B $3.6B
Gross profit $539M $571M $603M $708M $640M $551M $525M $678M $877M $956M
Research and development $126M $127M $148M $159M $133M $117M $120M $132M $141M $148M
Interest expense $26.8M $35.6M $40.5M $44.0M $35.8M $34.3M $34.5M $47.9M $48.0M $45.7M
Pretax income $227M $253M $220M $321M $282M $246M $200M $276M $454M $521M
Income tax $45.6M $52.2M $39.2M $61.0M $41.5M $37.1M $28.2M $43.4M $81.0M $79.3M
Net income $181M $201M $180M $260M $240M $209M $172M $232M $373M $442M
Diluted EPS $2.85 $3.16 $2.82 $4.02 $3.74 $3.18 $2.71 $3.78 $6.01 $7.19
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.07B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $435M $308M $299M $391M $350M $465M $194M $309M $439M $471M
Capital expenditure $176M $92.3M $127M $99.1M $47.1M $37.7M $52.9M $76.5M $96.3M $131M
Free cash flow $260M $215M $172M $292M $302M $427M $141M $232M $343M $340M
Depreciation and amortization $69.0M $80.9M $116M $142M $131M $130M $121M $120M $116M $113M
Stock-based compensation $15.1M $17.3M $18.2M $18.1M $22.9M $21.5M $20.1M $23.4M $33.1M $31.7M
Acquisitions $0.0M $0.0M $771M $0.0M $0.0M $0.0M $21.5M $0.9M $0.0M $41.7M
Share buybacks $126M $71.8M $0.0M $110M $13.3M $33.3M $485M $126M $391M $173M
Dividends paid $26.6M $29.7M $34.0M $39.1M $37.7M $36.0M $45.0M $51.0M $58.3M $65.0M
Dividends and buybacks $152M $102M $34.0M $149M $51.0M $69.4M $530M $177M $449M $238M
Balance sheet
Cash and short-term investments $81.1M $87.6M $83.6M $99.1M $153M $449M $108M $137M $282M $327M
Total debt $727M — $1.2B $1.1B — $735M $777M $722M $873M $702M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $2.8M $1.2M $5.3M $3.5M $2.7M $2.9M
Current assets $944M $1.0B $1.1B $1.3B $1.2B $1.5B $1.3B $1.5B $1.7B $1.9B
Current liabilities $481M $427M $591M $707M $392M $366M $539M $617M $924M $907M
Inventory $462M $474M $550M $517M $438M $420M $514M $518M $609M $655M
Property and equipment, net $876M $922M $1.1B $1.1B $997M $951M $911M $913M $941M $987M
Total assets $2.6B $2.8B $3.8B $4.0B $3.9B $4.1B $3.8B $4.0B $4.4B $4.6B
Total liabilities $1.4B $1.4B $2.3B $2.2B $1.9B $1.9B $1.9B $1.9B $2.2B $2.1B
Shareholders' equity $1.2B $1.4B $1.5B $1.7B $2.0B $2.2B $1.9B $2.1B $2.2B $2.6B
Margins
Gross margin 26.7% 27.2% 25.9% 24.4% 25.7% 24.5% 22.1% 23.3% 26.4% 26.8%
EBITDA margin 15.9% 17.6% 16.2% 17.5% 18.0% 18.2% 14.9% 15.2% 18.6% 19.1%
Net margin 8.9% 9.6% 7.8% 9.0% 9.6% 9.3% 7.2% 8.0% 11.2% 12.4%
FCF margin 12.8% 10.3% 7.4% 10.1% 12.1% 19.0% 5.9% 8.0% 10.3% 9.5%
Returns
Return on capital 10.7% — — 10.9% — — 7.9% 10.4% 15.2% 16.8%
Return on capital employed 11.7% 12.8% 9.4% 11.3% 9.4% 7.7% 6.7% 9.7% 14.7% 15.8%
Return on equity 15.3% 15.5% 12.4% 15.9% 12.9% 9.9% 8.3% 11.7% 17.6% 18.6%
Return on assets 7.0% 7.4% 5.5% 6.7% 6.1% 5.2% 4.4% 6.0% 8.9% 9.8%
Growth
Revenue growth −0.8% 3.7% 10.8% 24.7% −14.0% −10.0% 6.1% 22.3% 14.1% 7.3%
Net income growth −0.3% 10.9% −10.0% 43.9% −7.4% −13.2% −17.7% 35.3% 60.5% 18.5%
EPS growth 3.6% 10.9% −10.8% 42.6% −7.0% −15.0% −14.8% 39.5% 59.0% 19.6%
FCF growth 2,669.1% −17.1% −20.0% 69.4% 3.7% 41.2% −67.0% 64.8% 47.7% −0.7%
Share count change −3.8% −0.1% 0.6% 1.0% −0.5% 2.1% −3.5% −2.8% 1.0% −1.0%
Financial health
Net debt / EBITDA 2.0x — 3.1x 2.0x — 0.7x 1.9x 1.3x 1.0x 0.6x
Debt / equity 0.6x — 0.8x 0.6x — 0.3x 0.4x 0.4x 0.4x 0.3x
Interest coverage 9.5x 8.1x 6.4x 8.3x 8.9x 8.2x 6.8x 6.8x 10.5x 12.4x
Current ratio 2.0x 2.4x 1.9x 1.8x 3.1x 4.0x 2.4x 2.4x 1.9x 2.1x
Quick ratio 1.0x 1.3x 1.0x 1.1x 2.0x 2.9x 1.5x 1.5x 1.2x 1.4x
Capital allocation
Capex / revenue 8.7% 4.4% 5.5% 3.4% 1.9% 1.7% 2.2% 2.6% 2.9% 3.7%
Stock comp / revenue 0.8% 0.8% 0.8% 0.6% 0.9% 1.0% 0.8% 0.8% 1.0% 0.9%
Payouts / FCF 58.6% 47.2% 19.8% 51.2% 16.9% 16.3% 376.7% 76.5% 131.0% 69.9%
Quality scores
Piotroski F-score 5.0 — — 5.0 — — 5.0 8.0 6.0 8.0
Altman Z'' 4.7 5.3 3.8 4.2 5.1 5.5 5.1 5.4 5.5 6.1
Accruals ratio −9.9% −4.0% −3.6% −3.4% −2.8% −6.4% −0.6% −2.0% −1.6% −0.7%

Source: SEC EDGAR XBRL filings (CIK 0000108312). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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