Nextpower vs Woodward
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The short version
- Woodward is the larger business, with $3.6B of revenue in fiscal 2025 against $3.6B for Nextpower.
- Nextpower grew revenue faster (20.3%, against 7.3%).
- Nextpower turned more of its sales into free cash flow (14.4% FCF margin, against 9.5%).
- Nextpower earned a higher return on the capital invested in it (54.5%, against 16.8%).
- Investors pay more for each dollar of Woodward’s earnings: a P/E of 33.8x against 20.4x for Nextpower.
| Latest fiscal year | NXT · FY26 | WWD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.2B | $18.5B |
| Revenue | $3.6B | $3.6B |
| Free cash flow | $514M | $340M |
| Net income | $586M | $442M |
| Growth | ||
| Revenue growth | 20.3% | 7.3% |
| 5-year growth | — | 7.4% |
| Share count change | 2.3% | −1.0% |
| Profitability | ||
| Gross margin | 32.6% | 26.8% |
| Operating margin | 19.6% | — |
| Net margin | 16.5% | 12.4% |
| FCF margin | 14.4% | 9.5% |
| Return on capital | 54.5% | 16.8% |
| Return on equity | 29.6% | 18.6% |
| Balance sheet | ||
| Net debt | −$1.1B | $378M |
| Net debt / EBITDA | −1.5x | 0.6x |
| Dividends and buybacks | $0.4M | $238M |
| Valuation & quality | ||
| P/E | 20.4x | 33.8x |
| Piotroski F-score | 3 | 8 |
Revenue
FY17
NXT —
WWD $2.1B
FY18
NXT —
WWD $2.3B
FY19
NXT —
WWD $2.9B
FY20
NXT —
WWD $2.5B
FY21
NXT —
WWD $2.2B
FY22
NXT —
WWD $2.4B
FY23
NXT $1.9B
WWD $2.9B
FY24
NXT $2.5B
WWD $3.3B
FY25
NXT $3.0B
WWD $3.6B
FY26
NXT $3.6B
WWD —
NXT
WWD
Operating margin
FY17
NXT —
WWD —
FY18
NXT —
WWD —
FY19
NXT —
WWD —
FY20
NXT —
WWD —
FY21
NXT —
WWD —
FY22
NXT —
WWD —
FY23
NXT 8.9%
WWD —
FY24
NXT 23.5%
WWD —
FY25
NXT 21.6%
WWD —
FY26
NXT 19.6%
WWD —
NXT
WWD
Free cash flow
FY17
NXT —
WWD $215M
FY18
NXT —
WWD $172M
FY19
NXT —
WWD $292M
FY20
NXT —
WWD $302M
FY21
NXT —
WWD $427M
FY22
NXT —
WWD $141M
FY23
NXT $104M
WWD $232M
FY24
NXT $423M
WWD $343M
FY25
NXT $622M
WWD $340M
FY26
NXT $514M
WWD —
NXT
WWD
Return on capital
FY17
NXT —
WWD —
FY18
NXT —
WWD —
FY19
NXT —
WWD 10.9%
FY20
NXT —
WWD —
FY21
NXT —
WWD —
FY22
NXT —
WWD 7.9%
FY23
NXT —
WWD 10.4%
FY24
NXT —
WWD 15.2%
FY25
NXT 66.8%
WWD 16.8%
FY26
NXT 54.5%
WWD —
NXT
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.