EnerSys vs Woodward
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The short version
- EnerSys is the larger business, with $3.8B of revenue in fiscal 2026 against $3.6B for Woodward.
- Woodward grew revenue faster (7.3%, against 3.7%).
- EnerSys turned more of its sales into free cash flow (12.5% FCF margin, against 9.5%).
- Woodward earned a higher return on the capital invested in it (16.8%, against 13.7%).
- Investors pay more for each dollar of Woodward’s earnings: a P/E of 33.8x against 17.8x for EnerSys.
| Latest fiscal year | ENS · FY26 | WWD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.2B | $18.5B |
| Revenue | $3.8B | $3.6B |
| Free cash flow | $468M | $340M |
| Net income | $294M | $442M |
| Growth | ||
| Revenue growth | 3.7% | 7.3% |
| 5-year growth | 4.7% | 7.4% |
| Share count change | −5.7% | −1.0% |
| Profitability | ||
| Gross margin | 29.3% | 26.8% |
| Operating margin | 11.4% | — |
| Net margin | 7.8% | 12.4% |
| FCF margin | 12.5% | 9.5% |
| Return on capital | 13.7% | 16.8% |
| Return on equity | 15.4% | 18.6% |
| Balance sheet | ||
| Net debt | $674M | $378M |
| Net debt / EBITDA | 1.3x | 0.6x |
| Dividends and buybacks | $409M | $238M |
| Valuation & quality | ||
| P/E | 17.8x | 33.8x |
| Piotroski F-score | 5 | 8 |
Revenue
FY17
ENS $2.4B
WWD $2.1B
FY18
ENS $2.6B
WWD $2.3B
FY19
ENS $2.8B
WWD $2.9B
FY20
ENS $3.1B
WWD $2.5B
FY21
ENS $3.0B
WWD $2.2B
FY22
ENS $3.4B
WWD $2.4B
FY23
ENS $3.7B
WWD $2.9B
FY24
ENS $3.6B
WWD $3.3B
FY25
ENS $3.6B
WWD $3.6B
FY26
ENS $3.8B
WWD —
ENS
WWD
Operating margin
FY17
ENS 10.0%
WWD —
FY18
ENS 10.5%
WWD —
FY19
ENS 7.6%
WWD —
FY20
ENS 6.2%
WWD —
FY21
ENS 7.3%
WWD —
FY22
ENS 6.1%
WWD —
FY23
ENS 7.5%
WWD —
FY24
ENS 9.8%
WWD —
FY25
ENS 12.9%
WWD —
FY26
ENS 11.4%
WWD —
ENS
WWD
Free cash flow
FY17
ENS $196M
WWD $215M
FY18
ENS $141M
WWD $172M
FY19
ENS $127M
WWD $292M
FY20
ENS $152M
WWD $302M
FY21
ENS $288M
WWD $427M
FY22
ENS −$140M
WWD $141M
FY23
ENS $191M
WWD $232M
FY24
ENS $371M
WWD $343M
FY25
ENS $139M
WWD $340M
FY26
ENS $468M
WWD —
ENS
WWD
Return on capital
FY17
ENS 14.3%
WWD —
FY18
ENS 10.9%
WWD —
FY19
ENS 11.4%
WWD 10.9%
FY20
ENS 8.6%
WWD —
FY21
ENS 8.6%
WWD —
FY22
ENS 7.6%
WWD 7.9%
FY23
ENS 9.9%
WWD 10.4%
FY24
ENS 14.1%
WWD 15.2%
FY25
ENS 16.8%
WWD 16.8%
FY26
ENS 13.7%
WWD —
ENS
WWD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.