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WWD

Woodward, Inc.

WWD

Woodward, Inc. • NASDAQ
$300.03 ▲ 0.63% (+1.88)
Market Cap $17.99 B
52w High $303.07
52w Low $146.82
Dividend Yield 1.12%
P/E 41.67
Volume 231.38K
Outstanding Shares 59.97M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $995.264M ▲ $126.625M ▼ $137.623M ▲ 13.828% ▲ $2.3 ▲ $199.165M ▲
Q3-2025 $915.446M ▲ $129.791M ▲ $108.448M ▼ 11.846% ▼ $1.82 ▼ $166.724M ▼
Q2-2025 $883.629M ▲ $121.072M ▲ $108.949M ▲ 12.33% ▲ $1.83 ▲ $172.418M ▲
Q1-2025 $772.725M ▼ $99.903M ▲ $87.091M ▲ 11.271% ▲ $1.47 ▲ $142.071M ▼
Q4-2024 $854.488M $87.334M $83.296M 9.748% $1.4 $144.336M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $327.431M ▼ $4.63B ▼ $2.064B ▼ $2.566B ▲
Q3-2025 $473.159M ▲ $4.712B ▲ $2.243B ▲ $2.469B ▲
Q2-2025 $364.141M ▲ $4.493B ▲ $2.156B ▲ $2.338B ▲
Q1-2025 $283.726M ▲ $4.281B ▼ $2.073B ▼ $2.208B ▲
Q4-2024 $282.27M $4.369B $2.192B $2.176B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $137.623M ▲ $233.318M ▲ $-92.035M ▼ $-287.8M ▼ $-145.728M ▼ $180.927M ▲
Q3-2025 $108.448M ▼ $125.635M ▲ $-23.38M ▼ $-8.524M ▲ $109.018M ▲ $99.088M ▲
Q2-2025 $108.949M ▲ $77.825M ▲ $27.962M ▲ $-36.988M ▼ $80.415M ▲ $59.409M ▲
Q1-2025 $87.091M ▲ $34.516M ▼ $-32.1M ▼ $19.386M ▲ $1.456M ▲ $942K ▼
Q4-2024 $83.296M $141.76M $-20.978M $-159.077M $-26.062M $117.673M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aerospace
Aerospace
 $550.00M ▲$490.00M ▼$560.00M ▲$600.00M ▲
Industrial
Industrial
 $300.00M ▲$280.00M ▼$320.00M ▲$320.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Woodward’s income statement shows a business that has shifted from slow, uneven performance to much stronger momentum. Sales have climbed each year, with especially solid growth in the last two years, suggesting healthy demand in both aerospace and industrial markets. Profitability has improved meaningfully: margins are widening, operating profits have recovered from prior softness, and earnings per share have grown at a fast pace most recently. This points to better pricing, mix, and cost control. The main watchpoint is that recent profitability gains are relatively fresh, so the question is how well they hold up through future aerospace and industrial cycles.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid and supportive of ongoing operations and growth. Total assets have grown, equity has rebuilt after a slight dip, and the company maintains a moderate level of debt that doesn’t appear excessive relative to its size. Cash levels fell a few years ago but have since been rebuilt to more comfortable levels, improving financial flexibility. Overall, leverage seems manageable, but the business still relies on debt financing to a degree, so interest costs and access to capital markets remain relevant risks if conditions tighten.

Cash Flow

Cash Flow Woodward generates positive cash flow from its operations, though the pattern over the past few years has been somewhat uneven. Free cash flow has stayed positive, even in softer years, which is a good sign for the underlying economics of the business. Investment in capital spending has been gradually increasing but remains modest relative to the cash generated, leaving room to fund growth initiatives, reduce debt, or return capital. The key consideration is consistency: the most recent year showed stronger cash generation, and investors will want to see that level sustained across different parts of the cycle.

Competitive Edge

Competitive Edge Woodward operates in specialized niches of aerospace and industrial control systems where reliability, safety, and certification are critical. Its long-standing relationships with major engine and turbine makers, and the fact that most of its products are custom-designed and deeply embedded in customers’ platforms, create high switching costs. Once a Woodward system is designed into an aircraft engine or turbine, changing suppliers can be risky, slow, and expensive for customers. This, combined with regulatory and technical hurdles, forms a meaningful competitive moat. The flip side is dependence on a relatively concentrated customer base and exposure to the health of aerospace and energy markets, which can be cyclical and policy-sensitive.

Innovation and R&D

Innovation and R&D Innovation is a central part of Woodward’s identity. The company has evolved from mechanical governors to advanced electronic controls, software, and complex fuel and motion systems. Today, it is leaning hard into future-facing areas: controls for sustainable aviation fuels and hydrogen, components for more electric aircraft, alternative-fuel injection systems for industrial engines, and solutions that support decarbonization and cleaner power generation. Its involvement in high-profile demonstration programs and alternative-fuel technologies suggests it is positioning itself where regulations and customer demand may be heading. The main uncertainty is how quickly these emerging technologies will be adopted at scale and how much economic value Woodward will ultimately capture from them.

Summary

Overall, Woodward appears to be a mature industrial and aerospace supplier that has recently entered a stronger growth and profitability phase, supported by a reasonable balance sheet and positive cash generation. Its competitive position benefits from deep technical expertise, custom engineered products, long certification cycles, and tight integration with customers’ critical systems, all of which make it hard for rivals to displace. At the same time, the company remains exposed to industry cycles, regulatory developments, and the pace of transition toward cleaner fuels and electrified systems. Future performance will depend on sustaining recent margin gains, maintaining disciplined capital use, and successfully turning its innovation pipeline in sustainable aviation and alternative fuels into durable, profitable revenue streams.

NEWS

November 24, 2025 · 4:00 PM UTC

Woodward Reports Record Sales & Earnings for Fiscal Year 2025

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November 19, 2025 · 5:41 PM UTC

Woodward Named to 2026 Forbes Best Companies List

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November 5, 2025 · 9:00 AM UTC

Travelers Institute Announces Wednesdays with Woodward® Winter Webinar Schedule

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September 17, 2025 · 5:45 PM UTC

Woodward Announces Declaration of Dividend

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September 16, 2025 · 11:07 AM UTC

WWD Partners with OUTFRONT Media for Landmark National Hispanic Heritage Month Campaign

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